Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment. C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”). D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations. E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly. F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution. G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications. H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 2 contracts
Samples: Office Lease (Ameriquest, Inc.), Office Lease (Ameriquest, Inc.)
Landlord’s Contribution. A. Landlord shall provide to Tenant a special allowance equal to $3,000,000 (the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. The Landlord’s Contribution shall be payable within 60 days after presentation used and applied by Tenant solely on account of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of Tenant’s Work; provided however that the maximum amount of Landlord’s Contribution which may be requisitioned and used by Tenant to pay for Soft Costs shall not exceed $300,000 (the “Soft Costs Cap”). Provided that (i) Tenant has completed and paid for all of Tenant’s Work in accordance with the terms of the Lease, (ii) Tenant has delivered the items required under Section 2.0(E) above, (iii) Tenant has delivered to Landlord its certificate specifying the cost of such Tenant’s Work and all contractors, subcontractors and suppliers involved with Tenant’s Work, together with evidence of such cost in the form of paid invoices, receipts and the like, (iv) Tenant has satisfied the requirements of (i) through (iii) above and made request for such payment on or before the date that is the first anniversary of the Commencement Date, (v) no Event of Default exists under the Lease, and (vi) there are no liens (unless bonded to the reasonable satisfaction of Landlord) against Tenant’s interest in the Lease or against the Building or the Site arising out of Tenant’s Work or any litigation in which Tenant is a party, then within thirty (30) days after the satisfaction of the foregoing conditions, the Landlord shall pay to the Tenant Improvements in excess the lesser of the amount of such costs so certified or the amount of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes after taking into account any disbursement of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect made pursuant to the Tenant Improvementsfollowing sentence). Fifty Notwithstanding the foregoing, Landlord will disburse up to fifty percent (50%) of Landlord’s Contribution which when Tenant’s Approved Architect certifies to Landlord that Tenant’s Work is at least fifty percent (50%) complete based upon a schedule of values submitted by Xxxxxx’s Architect to Landlord prior to commencement of Tenant’s Work, provided however that such disbursement shall be (i) limited to the costs of the Tenant’s Work paid for by Tenant does not use through the date of such request for the Tenant Improvements may be utilized to offset the cost associated with construction costsdisbursement, the purchase as evidenced by paid invoices from Tenant’s contractors, subcontractors and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costssuppliers, and the termination penalty at AmeriQuest(ii) conditioned upon (A) delivery of Lien Waivers for all of Tenant’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work Work for which Xxxxxx will contract directly, disbursement of such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward is requested, (B) no Event of Default exists under the Lease, and (C) there are no liens (unless bonded to the reasonable satisfaction of Landlord) against Xxxxxx’s interest in the Lease or against the Building or the Site arising out of Tenant’s Work or any litigation in which Tenant is a party. Notwithstanding the foregoing, Landlord shall be under no obligation to apply any portion of the Landlord’s Contribution for any purposes other than as provided in this Section 3.0, nor shall Landlord be deemed to have assumed any obligations, in whole or in part, of Tenant to any contractors, subcontractors, suppliers, workers or materialmen. Further, the Landlord’s Contribution shall only be applied towards the cost of leasehold improvements and in no event shall Landlord be required to make application of any portion of the Landlord’s Contribution towards Tenant’s personal property, trade fixtures or moving expenses or on account of any supervisory fees, overhead, management fees or other payments to Tenant, or any partner or affiliate of Tenant Improvementsor any other Soft Costs above the Soft Costs Cap. In the event that such cost of Tenant’s Work is less than the Landlord’s Contribution, Tenant shall not be entitled to any payment or credit nor shall there be any application of the same toward Annual Fixed Rent or Additional Rent owed by Tenant under the Lease; however, if for any reason Tenant does not use the entire Landlord’s Contribution as provided above towards Tenant’s Work, Tenant shall have the right to use up to a $600,000 portion of Landlord’s Contribution towards alterations made to the Premises subject to Landlord’s consent pursuant to Section 5.12 of the Lease provided request for disbursement is made within thirty-six (36) months of the Rent Commencement Date and Tenant complies with the all disbursement conditions applicable to Landlord’s Contribution set forth above. Landlord shall receive reasonable assurances be entitled to deduct from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor Landlord’s Contribution reasonable third party expenses incurred by Landlord to review Tenant’s Plans and Xxxxxx’s ArchitectWork. For purposes of this Exhibit B-1, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.term “
Appears in 2 contracts
Samples: Lease Agreement (Fractyl Health, Inc.), Lease (Fractyl Health, Inc.)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Landlord agrees to pay to Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect an amount not to the Tenant Improvements. Fifty percent (50%) of exceed Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Initial Installations, provided as of the date on which Landlord is required to make payment thereof pursuant to Section 5.2(b), (i) this Lease is in full force and effect, (ii) Tenant Improvementshas delivered to Landlord the Letter of Credit described in Section 34.2 and (iii) no Event of Default then exists and is continuing. Tenant shall pay all costs of the Initial Installations in excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to the Initial Installations and materials delivered to the Premises in connection with the Initial Installations, and architectural, consulting and engineering fees incurred in connection with the Initial Installations.
(b) Landlord shall receive reasonable assurances pay Landlord's Contribution to Tenant following commencement of Tenant's business operations at the Premises and the final completion of the Initial Installations, within 30 days after submission by Tenant to Landlord of a written requisition therefor, signed by the chief financial officer of Tenant and accompanied by (i) copies of paid invoices covering all of the Initial Installations, (ii) a written certification from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, 's architect stating that the portion of the Tenant Improvements for which payment is being sought has in fact Initial Installations described on such invoices have been completed in accordance with the Final Plans plans and Specifications.
H. It is understood specifications approved by Landlord, that such work has been paid in full by Tenant and agreed that neither all contractors, subcontractors and material suppliers have delivered to Tenant waivers of lien with respect to such work (copies of which shall be included with such architect's certification), (iii) proof of the satisfactory completion of all required inspections and the issuance of any required approvals and sign-offs by Governmental Authorities with respect thereto, (iv) final "as-built" plans and specifications for the Initial Installations as required pursuant to Section 6.1(c) and (v) such other documents and information as Landlord nor its designated agent shall have any responsibility for construction meansmay reasonably request, methods or techniques or safety precautions including in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans title drawdowns and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsendorsements.
Appears in 2 contracts
Samples: Office Building Lease (Imanage Inc), Office Building Lease (Imanage Inc)
Landlord’s Contribution. A. a. Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to Landlord for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications in a form ready for use as construction drawings (“Tenant’s Plans”) for the installation of alterations, installations, decorations and improvements in the Second Additional Space to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Second Additional Space Alteration Work”). Landlord hereby grants its approval to The Xxxxxxxx Group (“TPG”) for retention by Tenant as the architect preparing Tenant’s Plans in accordance with the terms of the Lease subject, however, to Landlord’s right to revoke such approval in the event that hereinafter there occurs any negative experience with TPG (in that they: (i) fail to prosecute work in a manner consistent with good business or trade practice, (ii) default on their obligations to Landlord, Tenant or other tenants of the Building, or (iii) conduct themselves in an unprofessional or disreputable manner in or about the Building) or reasonable concerns regarding the financial stability of, or any criminal proceedings pending against, TPG. All such construction plans and specifications and all such work shall be effected in accordance with all applicable provisions of the Lease, including, without limitation, Article 8, at Tenant’s sole cost and expense. Simultaneously with the execution and delivery of this Agreement by Landlord to Tenant, Landlord shall provide furnish to Tenant as many copies of a Form ACP-5 for Tenant’s Second Additional Space Alteration Work as are required by any governmental and quasi-governmental agencies and authorities having jurisdiction. In connection with any Tenant’s Second Additional Space Alteration Work, Landlord shall reasonably cooperate with Tenant in connection with obtaining necessary permits for any Tenant’s Second Additional Space Alteration Work, which may include, without limitation, executing applications reasonably required by Tenant for such permits prior to completion of Landlord’s review of Tenant’s Plans, provided that (i) execution of any such application by Landlord shall not constitute Landlord’s consent to Tenant’s Second Additional Space Alteration Work in question (which consent shall still be required in accordance with all applicable provisions of the Premises Lease, including, without limitation, Article 8, prior to the performance of any Tenant’s Second Additional Space Alteration Work), (ii) no such application shall include a proposed change in its “as-is” condition. the Certificate of Occupancy for the Building, and (iii) Tenant shall reimburse Landlord, within thirty (30) days after demand therefor, for all reasonable costs and expenses reasonably incurred by Landlord in connection with Landlord’s cooperation in obtaining such permits.
b. If and so long as Tenant is not in monetary or material nonmonetary default under the Lease after notice, (in which event Tenant’s rights under this Article shall be suspended until such time, if ever, as Tenant fully cures the default alleged in such notice, at which time Tenant’s rights hereunder shall be reinstated), then subject to and in accordance with the provisions of this Section 7, Landlord shall contribute up to the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved 555,115.00 (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal ) to the cost of labor and materials for the Tenant Improvements in excess portion of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs Second Additional Space Alteration Work which constitutes Qualified Renovations. “Qualified Renovations” shall not include any architectural, engineering or other consulting fees, be defined as: (i) the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted labor and materials used by Tenant to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated construct permanent leasehold improvements and alterations to the Second Additional Space in compliance with such installations.
E. For purposes of this Rider, the soft costs Lease after the date hereof and prior to the last day of the Tenant Improvements shall include, twenty-fourth (24th) calendar month following the Second Additional Space Commencement Date and (ii) up to but not exceeding the sum of $111,023.00 of Landlord’s Contribution may be utilized to pay for; applied towards the Soft Costs (aas defined below) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without incurred in connection therewith. Without limitation, its structure or systems)for purposes of this Article, the fees Qualified Renovations shall be deemed not to include and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) Landlord’s Contribution shall not be applied to the cost of permits; (c) costs of construction escrow with a title companyinterest, if any; and (d) late charges, trade fixtures, furniture, furnishings, moveable business equipment or any other costs reasonably incurred with respect personal property whatsoever, or to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of labor, materials or services used to furnish or provide the Tenant Improvements pursuant to same. For the Final Plans and Specifications on purposes hereof, the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord term “Soft Costs” shall make payments of Landlord’s Contribution on account of mean the cost of Tenant Improvements upon compliance with the requirements of this Riderarchitectural, but planning, engineering and filing fees, equipment, workstations, related cabinetry, and/or work surfaces (whether or not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order affixed to provide title insurance over any and all possible mechanics’ lien claimswalls and/or convector covers), or rights thereto, incurred in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers performance of lien, architectTenant’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contributionSecond Additional Space Alteration Work.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 2 contracts
Samples: Lease Agreement (Schrodinger, Inc.), Lease Agreement (Schrodinger, Inc.)
Landlord’s Contribution. A. Provided there is no uncured Event of Default by Tenant hereunder, Landlord shall provide to Tenant a construction allowance (the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”)) for Premises A in the amount of $139,660.00 (i.e., $20.00 per square foot in Premises A) and for Premises B in the amount of $108,960.00 (i.e., $20.00 per square foot in Premises B) and for Premises C in an amount of $103,180.00 (i.e., $20.00 per square foot in Premises C) to be applied as designated by Tenant in accordance with the terms of this Work Letter toward (a) the hard Total Construction Costs, and soft costs (b) Tenant’s Moving and Relocation Costs (as hereinafter defined) to the extent set forth in paragraph 9 below. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse any portion of the Tenant ImprovementsLandlord’s Contribution during the continuance of an uncured Event of Default under the Lease, which amountand Landlord’s obligation to disburse shall only resume when and if such Event of Default is cured. In addition, at Landlord has paid or shall pay the option cost of a space plan for the Premises and one revision thereto in an amount not to exceed $2,110.80 (i.e., $0.12 per rentable square foot in the Premises). Tenant, maybe disbursed directly by delivery of written notice (a “Deferral Notice”) to TenantLandlord, Xxxxxxshall have the right to defer the receipt of up to $175,900.00 (i.e., $10.00 per rentable square foot in the Premises) of the Landlord’s contractorsContribution for the payment for Work in the Premises to be performed at a later date, or jointly such date to Tenant and Tenantbe specified in such notice (the “Deferred Landlord’s contractorsContribution”). The Deferred Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed applied to the date of any Total Construction Costs in performing such payment.
C. Tenant shall contribute an amount equal Work in the Premises, subject to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent terms of this Work Letter after the date set forth in such notice. To the extent any portion of the Deferred Landlord’s Contribution remains unused on May 1, 2011, Tenant shall have any responsibility be entitled to apply such unused portion, at Tenant’s option exercised by delivery of written notice to Landlord, as a credit against payments of Rent next due under the Lease for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, balance of the initial Term or for additional tenant improvements in the accuracy Premises or completeness a combination of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsforegoing.
Appears in 2 contracts
Samples: Lease (Enova International, Inc.), Lease Agreement (Enova International, Inc.)
Landlord’s Contribution. A. The Refurbishment Work shall be performed at the sole cost and expense of Tenant, except for the amount of the Landlord’s Contribution. Landlord shall provide the Premises in its “asa total of Ninety-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two One Thousand Seven Hundred Twenty Dollars ($32.00) Dollars 91,720; based on $10.00 per square foot of on 9,172 rentable area of square feet in the Premises (9,290 rsf) to be improved (Existing Premises; “Landlord’s Contribution”), toward as provided in this Paragraph 8(c) in payment or partial payment for the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building Refurbishment Work (including, without limitation, its structure design, permit, and construction costs). Subject to the provisions of Paragraph 8(d) below, Landlord shall apply Landlord’s Contribution to the cost of performing (including, without limitation, design, permit and construction costs) the Refurbishment Work and for the other purposes specifically provided in this Paragraph 8. If, following the substantial completion of the Refurbishment Work, any portion of the Landlord’s Contribution is unused and unapplied, following Tenant’s written request therefor, Landlord shall apply such unused and unapplied portion of the Landlord’s Contribution toward the installment of Base Rent next coming due under the Lease and subsequent installments of Base Rent, until such time as such unused and unapplied portion of the Landlord’s Contribution has been fully applied to Base Rent. Notwithstanding anything to the contrary set forth herein: (a) the obligation of Landlord to make any one or systems)more payments pursuant to the provisions of this Paragraph 8(c) or to proceed with the performance of the Refurbishment Work shall be suspended without further act of the parties during any such time as there exists a Default under the Lease or any event or condition which, with the fees passage of time or the giving of notice or both would constitute such a Default; and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding obligation of Landlord contribution.
G. As a condition to the payment by Landlord of pay any unexpended portion of Landlord’s Contribution toward the cost shall terminate as of the first anniversary of the Extension Date. Nothing in this Paragraph 8(c) shall affect the obligations of Tenant Improvementsunder the Lease with respect to any alterations, Landlord shall receive reasonable assurances from additions and improvements within the title insurer as provided in paragraph 4.F.Premises, and certifications from the General Contractor and Xxxxxx’s Architectincluding, Tenantwithout limitation, any inspecting architect, that obligation to obtain the portion prior written consent of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and SpecificationsLandlord thereto.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 2 contracts
Samples: Lease Agreement (Adamas Pharmaceuticals Inc), Lease Agreement (Adamas Pharmaceuticals Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and Landlord agrees to pay to Tenant an amount not to exceed the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of applicable Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Tenant ImprovementsInitial Installations for Area A and Area B, provided as of the date on which Landlord shall receive reasonable assurances from is required to make payment thereof pursuant to paragraph 9(b), (i) the title insurer as provided Lease is in paragraph 4.F.full force and effect, and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion (ii) no Event of Default then exists. Tenant shall pay all costs of the Tenant Improvements for which payment is being sought has Initial Installations in fact been completed in accordance with excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to the Final Plans Initial Installations and Specifications.
H. It is understood materials delivered to Area A and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions Area B in connection with the Initial Installations, except that Tenant Improvementsmay apply up to 5% of Landlord's Contribution to pay "soft costs", consisting of architectural, consulting, engineering and legal fees incurred in connection with the Initial Installations. Tenant shall not be entitled to receive any portion of Landlord's Contribution not actually expended by Tenant in the performance of the Initial Installations in accordance with this paragraph 8, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in paragraph 9(b), or upon the occurrence of the date which is twelve months after the Rent Commencement Date for the accuracy or completeness applicable space, whichever first occurs, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord.
(b) Landlord shall pay Landlord's Contribution for Area A and Area B to Tenant following commencement of Tenant's business operations in Area A and Area B, respectively, and the final completion of the Plans Initial Installations in such space, within 30 days after submission by Tenant to Landlord of a written requisition therefor, signed by the chief financial officer of Tenant and Specificationsaccompanied by (i) copies of paid invoices covering all of the Initial Installations, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in (ii) a written certification from Tenant's architect stating that the Plans and Specifications.Initial Installations described on such invoices have
Appears in 2 contracts
Samples: Office Building Lease (Imanage Inc), Lease (Imanage Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Landlord agrees to pay to Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect an amount not to the Tenant Improvements. Fifty percent (50%) of exceed Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Initial Installations (excluding any "soft-costs" (other than architectural, engineering, permit and construction consulting fees not in excess of $88,053) and Tenant's Property), provided that as of the date on which Landlord is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists. Tenant Improvementsshall pay all costs of the Initial Installations in excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to the Initial Installations and materials delivered to the Premises in connection with the Initial Installations (excluding any "soft-costs" (other than architectural, engineering, permit and construction consulting fees not in excess of $88,053) and Tenant's Property). Tenant shall not be entitled to receive any portion of Landlord's Contribution not actually expended by Tenant in the performance of the Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in Section 4.2, or upon the occurrence of the date which is twelve months after the Commencement Date (which date shall be extended by reason of strikes, labor trouble or any other similar cause beyond Tenant's control in performing the Initial Installations), whichever first occurs, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord; provided, however, that notwithstanding anything contained herein to the contrary, the applicable portion of such retained amounts shall continue to be held for the benefit of Tenant by Landlord if Tenant delivers a notice to Landlord prior to satisfaction of the conditions set forth in Section 4.2 that it is in dispute with any contractors, subcontractors, vendors or other providers of service and refuses to make payments at such time.
(b) Landlord shall receive reasonable assurances make progress payments to Tenant on a monthly basis, for the work performed during the previous month, up to 90% of Landlord's Contribution. Each of Landlord's progress payments shall be limited to an amount equal to the aggregate amounts theretofore paid by Tenant (as certified by an authorized officer of Tenant and by Tenant's independent architect) to Tenant's contractors, subcontractors and material suppliers which have not been subject to previous disbursements from Landlord's Contribution multiplied by 90%. Provided that Tenant delivers requisitions to Landlord on or prior to the title insurer as provided in paragraph 4.F.10th day of any month, such progress payments shall be made within 30 days next following the delivery to Landlord of requisitions therefor, signed by an authorized officer of Tenant. which requisitions shall set forth the names of each contractor and subcontractor to whom payment is due, and certifications the amount thereof, and shall be accompanied by (i) with the exception of the first requisition, copies of partial waivers of lien from all contractors, subcontractors, and material suppliers covering all work and materials which were the General Contractor subject of previous progress payments by Landlord and Xxxxxx’s Architect, Tenant, any inspecting architect, (ii) a written certification from Tenant's architect that the portion of the Tenant Improvements work for which payment the requisition is being sought made has in fact been completed substantially in accordance with the Final Plans plans and Specifications.
H. It is understood specifications approved by Landlord and agreed that neither (iii) such other documents and information as Landlord nor its designated agent shall have any responsibility for construction meansmay reasonably request, methods or techniques or safety precautions including in connection with title drawdowns and endorsements. Any requisition made following the 10th day of any month shall be paid no later than the last day of the month following the month in which such requisitions are made. Landlord shall disburse any amount retained by it hereunder upon submission by Tenant Improvementsto Landlord of Tenant's requisition therefor accompanied by all documentation required under this Section 4.2(b), together with (A) proof of the satisfactory completion of all required inspections and issuance of any required approvals, permits and sign-offs for the Initial Installation by Governmental Authorities having jurisdiction thereover, (B) final plans and specifications for the Initial Installations as required pursuant to Section 5.l(c) and (C) issuance of final lien waivers by all contractors, subcontractors and material suppliers covering all of the Initial Installations. The right to receive Landlord's Contribution is for the exclusive benefit of Tenant, and in no event shall such right be assigned to or be enforceable by or for the accuracy benefit of any third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsother Person.
Appears in 1 contract
Samples: Lease (Greenhill & Co Inc)
Landlord’s Contribution. A. Landlord shall provide 44.1 Subject to Tenant’s satisfaction of the Premises in its “as-is” condition. requirements of this Article 44, Landlord shall contribute the sum of $297,280.00as hereinafter provided, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved an amount (“Landlord’s Contribution”), ) not to exceed the maximum sum of $195,000.00 toward the actual hard costs of performing and soft completing Tenant’s Initial Installations provided that Tenant may use up to $19,500 of Landlord’s Contribution for any “soft” costs relating to Tenant’s Initial Installations.
44.2 Provided that the Lease is in full force and effect and no event of default shall then exist and be continuing hereunder, and provided further that there are no outstanding mechanic’s lien, financing statement or other lien, charge or order (collectively, a “Work Lien”) in existence filed against Landlord, or against all or any portion of the Premises, or the Building due to any act or omission of Tenant or any of Tenant’s contractors or affiliates that has not been actually released and discharged of record or bonded or insured over to the reasonable satisfaction of Landlord, Landlord shall make progress payments to Tenant on account of the Landlord’s Contribution on a periodic basis (but not more frequently than as permitted below) in reimbursement of the actual hard costs of the work performed by or on behalf of Tenant Improvementsor for “soft” costs paid by Tenant (to the extent provided herein) and paid for by Tenant for Tenant’s Initial Installations. Concurrently with a request by Tenant for re imbursement out of the Landlord’s Contribution, Tenant shall provide documentation to Landlord evidencing that Tenant has retained a portion of the total amounts then due to Tenant’s general contractor which amountportion shall not be less than (a) ten percent (10%) until at least fifty percent (50%) of the Tenant’s Initial Installations have been substantially completed and (b) five percent (5%) until all of Tenant’s Initial Installations have been substantially completed. All requisitions shall be submitted on AIA Form 702 and 703. Each of Landlord’s progress payments will be an amount equal to the aggregate amounts theretofore paid by Tenant (as certified by an authorized officer of Tenant) to Tenant’s contractors, at subcontractors and material suppliers (excluding any payments for which Tenant has previously been reimbursed out of previous disbursements from Landlord’s Contribution) for the option performance of all of Tenant’s Initial Installations and Landlord shall withhold any such retainage from distribution to Tenant until the Tenant’s Initial Installations have been substantially completed and Tenant shall have otherwise fulfilled the conditions set forth in Section 44.3 below. Provided that Tenant delivers requisitions to Landlord no more than once every thirty (30) days, such progress payments shall be made within thirty (30) days after the delivery to Landlord of requisitions therefor, signed by an officer of Tenant, maybe disbursed directly which requisitions shall set forth the names of each contractor and subcontractor to Tenantwhom payment was made, Xxxxxx’s and the amount thereof, and shall be accompanied by (i) copies of partial waivers of lien from all contractors, subcontractors and material suppliers covering all work and materials that were the subject of previous progress payments by Landlord and Tenant (ii) a written certification from Tenant that the work for which the requisition is being made has been completed substantially in accordance with the Plans approved by Landlord, and (iii) such other documents and information as Landlord may reasonably request. If only a portion of the requisition is rejected by Landlord as provided in this Article, Landlord shall cause the non-rejected portion of such requisition to be paid within the original thirty (30)-day timeframe set forth above. If by reason of a Work Lien Landlord refuses to pay any part of Landlord’s Contribution, upon Tenant’s discharge of same by bonding or jointly otherwise, Landlord shall within thirty (30) days thereafter pay to Tenant and such portion of Landlord’s Contribution.
44.3 The amounts requested under Tenant’s final requisition of the Landlord’s Contribution (which shall include, without limitation, the 5% Retainage) shall not be disbursed until all documentation required under this Article 44, together with (A) proof of the satisfactory completion of all required inspections and issuance of any required approvals, permits and signoffs for Tenant’s Initial Installations by all Governmental Authorities having jurisdiction thereover (it being acknowledged that a copy of the back of the building permit with “sign-offs” from the applicable inspectors shall satisfy the requirements of this subsection (A)), (B) final “as-built” Plans, and (C) the issuance of final lien waivers by all contractors, subcontractors and material covering all of Tenant’s Initial Installations.
44.4 All requisitions must be submitted on or before December 31, 2015 (the ‘‘Final Submission Date”), time being of the essence as to such date. Notwithstanding anything to the contrary set forth in this Lease, the Landlord’s Contribution shall be payable paid by Landlord in not less than three (3) installments with each installment other than the final installment constituting no more than thirty-three and one-third percent (33-1/3%) of the Landlord’s Contribution. If Landlord fails to timely pay any requisition for an installment of the Landlord’s Contribution, within 60 forty-five (45) days after presentation Tenant has made the appropriate requisition therefor in compliance with Sections 44.2 or 44.3 above, as applicable, Tenant, as Tenant’s sole remedy hereunder, shall be entitled to offset the unpaid portion of invoices and
B. upon Xxxxxxthe installment against the next ensuing installment(s) of Fixed Rental payable hereunder. Notwithstanding anything to the contrary set forth in this Article 44, if Tenant fails to pay when due any sums due and payable to any of Tenant’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of liencontractors or material suppliers, and Tenant shall fail to remove or bond any lien within thirty (30) days after notice from Landlord of such failure, such failure shall constitute an event of default under the Lease without the requirement of any other documentation customarily provided notice of any kind, and, without limitation of Landlord’s other rights and remedies hereunder, Landlord shall have the right, but not the obligation, to evidence performance promptly bond any such liens, and sums so paid by Landlord shall be deemed Additional Rental and shall be paid by Tenant within ten (10) days after Landlord delivers to Tenant an invoice therefor. Under no circumstance shall Landlord be required pursuant to this Lease to contribute in excess of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements Landlord’s Contribution. Any costs in excess of the Landlord’s Contribution shall be the sole responsibility of Tenant. For the sake of certainty, in the event that as of the day immediately following the Final Submission Date, with time being of the essence, Tenant shall have failed to requisition (“in accordance with the Lease) all or any portion of the Landlord’s Contribution, Tenant shall forever waive Tenant’s Contribution”).
D. For purposes of this Riderright to receive (in every respect, hard costs shall not include any architecturalincluding, engineering or other consulting fees, the cost of procurement without limitation as a rent credit and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with as a work contribution) such installations.
E. For purposes of this Rider, the soft costs portion of the Tenant Improvements shall include, and Landlord’s Contribution. No portion of the Landlord’s Contribution may be utilized assigned by Tenant prior to pay for; (a) fees and expenses the actual payment thereof by Landlord. Landlord has made no representations as to the projected cost of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlyInitial Installations.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Office Lease (PCI Media, Inc.)
Landlord’s Contribution. A. Landlord shall, in the manner hereinafter set forth and subject to paragraph (4) below, provide Tenant with an allowance (the “Allowance”) not to exceed $19,613,044.00 (“Maximum Amount”) towards the Cost (as hereinafter defined) of Tenant’s Work. “Cost” shall provide include, without limitation, the Premises in its “as-is” conditionfollowing: (i) all actual and documented architectural, engineering, and construction fees and expenses, (ii) all actual and documented contractor charges for the cost of work and materials, (iii) all actual and documented profit and general conditions, and (iv) all filing fees and other permitting costs. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution” shall be the lesser of (x) the actual Cost of Tenant’s Work or (y) the Allowance. The Allowance represents the sum of a base allowance not to exceed $15,325,120.00 (the “Base Allowance”) and an additional allowance in the amount of $4,287,924.00 (the “Additional Allowance”). Tenant shall be entitled to use up to $2,298,768.00 (i.e., toward the hard and soft costs $6.00 per rentable square foot of the Tenant Improvements, which amount, at Office Premises of 383,128 rentable square feet) of the option Base Allowance towards the so-called “Soft Costs” of Tenant’s Work (i.e., maybe disbursed directly to Tenantarchitectural and engineering costs, Xxxxxx’s contractorsmoving costs, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavitscabling costs, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of furniture, fixtures and equipment purchased by Tenant for use in the Office Premises, the cost of installing any signage on the exterior of the Building which Tenant Improvements is permitted to install pursuant to the Lease, as amended by this Second Amendment), and Tenant may use the entire Additional Allowance for Soft Costs without limitation, for a total of $6,586,692.00 of the Allowance that may be used by Tenant for Soft Costs. In the event the entire Additional Allowance has not been requisitioned by Tenant for Costs (including Soft Costs) by December 31, 2020, Tenant shall have no right to use any unused portion of the Additional Allowance. Solely for the potential adjustment in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, based upon the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs exercise of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal Initial Contraction Option by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this RiderSection 9 hereof, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment Base Allowance allocable to the 9th floor is being sought has in fact been completed in accordance with $1,842,480.00 and the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness portion of the Plans and Specifications, or any design error therein, or failure Additional Allowance allocable to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications9th floor is $609,314.00.
Appears in 1 contract
Samples: Lease (Wiley John & Sons, Inc.)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution Provided this Lease shall be payable within 60 days after presentation in full force and effect and that no Event of invoices and
B. upon Xxxxxx’s request as work progresses provided that Default shall have occurred and be continuing, Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized agrees to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Landlord’s Work. Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer pay any and all costs of Landlord’s Work (including both “hard costs,” such as provided in paragraph 4.F.costs of construction labor and materials, and certifications from the General Contractor “soft costs”, such as costs of obtaining permits and Xxxxxxapprovals, and inspection, architectural and engineering costs), in excess of Landlord’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed Contribution in accordance with the Final Plans terms and Specifications.
H. It is understood conditions set forth herein and agreed that neither Landlord in Exhibit D. Landlord’s Contribution shall be payable solely on account of work related to the Landlord’s Work (including, without limitation, (i) actual architectural, consulting and engineering fees and costs incurred by Tenant in connection therewith and (ii) costs of electricity and other utilities incurred in connection therewith) except as otherwise specifically provided in this Lease. Tenant shall not be entitled to receive any portion of Landlord’s Contribution not actually expended in the performance of the Landlord’s Work in accordance with Exhibit D, nor its designated agent shall Tenant have any responsibility right to apply any unexpended portion of Landlord’s Contribution as a credit against Fixed Rent, Additional Rent or any other obligation of Tenant under this Lease; provided, however (and subject to the first sentence of this Section 4.4), that if, after payment of all costs of Landlord’s Work and the costs set forth in Section 12.9(c), there shall be any unexpended balance of Landlord’s Contribution, then such balance shall be applied to reimburse Tenant for construction meanscosts incurred by Tenant for installing Tenant’s initial telecommunications and computer data wiring and initial built-in furniture in the Premises, methods or techniques or safety precautions provided that Tenant provides to Landlord, not later than sixty (60) days after the Substantial Completion Date (as hereinafter defined) (with TIME OF THE ESSENCE), a request for such reimbursement accompanied by evidence reasonably satisfactory to Landlord substantiating that such work has been performed and completed and that such costs actually have been incurred and paid by Tenant; but Tenant shall pay the costs for such wiring and built-in connection with furniture to the Tenant Improvementsextent that the unexpended balance of Landlord’s Contribution (if any), or for the accuracy or completeness after payment of the Plans costs and Specificationsexpenses to which said Landlord’s Contribution otherwise is to be applied, or any design error thereinincluding the costs set forth in Section 12.9(c), or failure shall be insufficient therefor. Such reimbursement out of the unexpended balance of Landlord’s Contribution shall be provided by Landlord to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans Tenant not later than thirty (30) days after request by Tenant for such reimbursement made as and Specificationswhen provided herein, accompanied by such substantiating evidence.
Appears in 1 contract
Samples: Lease Agreement (Pzena Investment Management, Inc.)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the lesser of (i) the total cost of the Tenant Improvements Improvements, Plans and Change Orders, or (ii) $25.00 per rentable square foot in excess of the 10th Floor Premises, i.e. $289,925.00 (the lesser amount is the “Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard ) to be applied toward the costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the incurred by Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (includingImprovements, without limitation, its structure or systems), the fees Plans and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant ImprovementsChange Orders. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of If the cost of the Tenant Improvements pursuant to the Final Improvements, Plans and Specifications on Change Orders exceeds the basis Landlord’s Contribution, Tenant shall pay all of a construction contract or contracts executed by such excess costs. Tenant for the Tenant Improvements. Landlord shall make payments of not be entitled to Landlord’s Contribution on account until after Landlord has received (a) all invoices, (b) evidence satisfactory to Landlord that the work covered by such invoices has been completed in a satisfactory manner, (c) all necessary lien waivers and sworn affidavits, (d) marked reproducible copies of the cost originally approved Plans showing all substantial changes made in constructing the Improvements during such period from the Plans as originally approved, (e) such other documentation as Landlord may reasonably require under the circumstances. Tenant shall deliver reproducible as-built Plans to Landlord at the conclusion of Tenant Improvements. Following completion of the Improvements upon and Tenant’s compliance with the requirements of this Rider, but not more often than monthly.
F. The cost all of the terms herein, Landlord’s Contribution will be provided to Tenant Improvements shall be paid in the form of a monthly Rent credit, amortized evenly over the remaining Term of the Lease. The undersigned (“Guarantor”) in consideration of, and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over induce X.XXXXXXX-LANDMARK TOWERS LLC, INEICHEN-LANDMARK TOWERS LLC, PLASTIC-LANDMARK TOWERS LLC, CATTANEO-LANDMARK TOWERS LLC, DND-LANDMARK TOWERS LLC, XXXXXXX-LANDMARK TOWERS LLC, XXXXXXX-LANDMARK TOWERS LLC, XXXXXX-LANDMARK TOWERS LLC, XXXXXXXXXX-LANDMARK TOWERS LLC, XXXXXX-LANDMARK TOWERS LLC, XXXXXXX-LANDMARK TOWERS LLC, XXXXXXXXXXX-LANDMARK TOWERS LLC, PAREDERO-LANDMARK TOWERS LLC, XXXXXXX-LANDMARK TOWERS LLC, SMG-LANDMARK TOWERS LLC, X. X’XXXXXXX-LANDMARK TOWERS LLC, X. X’XXXXXXX-LANDMARK TOWERS LLC, PILLSBURY-LANDMARK TOWERS LLC, XXXXX-LANDMARK TOWERS LLC, R&R-LANDMARK TOWERS LLC, SHARP-LANDMARK TOWERS LLC, XXXXX-LANDMARK TOWERS LLC, XXXXXXX-LANDMARK TOWERS LLC, VENTURI-LANDMARK TOWERS LLC, XXXXXXXXX-LANDMARK TOWERS LLC, SGB-LANDMARK TOWERS LLC, XXXXXXX-LANDMARK TOWERS LLC, AND BSITES-LANDMARK TOWERS LLC, each a Delaware limited liability company (“Landlord”), their successors and assigns, acting by and through TNPPM LANDMARK, LLC (“Agent” for Landlord), wholly-owned by TNP Property Manager, LLC to enter into the attached Agreement of Lease (“Lease”) with Green Tree Servicing LLC, a Delaware limited liability company (“Tenant”), does hereby jointly and severally unconditionally guarantee to Landlord and Landlord’s heirs, successors and assigns the payment of rent and the performance of all obligations expressed as to be performed by Tenant under the terms and provisions of the Lease, including payment of damages for any breach of the Lease, and all possible mechanics’ lien claimsany liability of Tenant accruing under the Lease for any period preceding as well as any period following the Term of the Lease (collectively, the “Lease Obligations”). Guarantor’s obligation under this Guaranty shall extend through the Term of the Lease, and any renewals, extensions or holdovers thereof, and shall be binding upon Guarantor’s heirs, successors and assigns. Whether or not any existing relationship between the Guarantor and Tenant has been changed or ended and whether or not this Guaranty has been revoked, Landlord may, but shall not be obligated to, enter into transactions resulting in the modification, creation or continuance of the Lease Obligations, without any consent or approval by Guarantor and without any notice to Guarantor. The liability of Guarantor shall not be affected or impaired by any of the following acts or things (which Landlord is expressly authorized to do, omit or suffer from time to time, both before and after revocation of this Guaranty): (i) any one or more extensions or renewals of the Lease Obligations (whether or not for longer than the original period) or any modification of the contractual terms applicable to the Lease Obligations; (ii) any waiver or indulgence granted to Tenant, any delay or lack of diligence in the enforcement of the Lease Obligations, or rights theretoany failure to institute proceedings, me a claim, give any required notices or otherwise protect any other person liable in respect of any of the Lease Obligations; (iii) the assertion by Landlord of any right or remedy available under the Lease, including without limitation the termination thereof; (iv) any full or partial release of, settlement with, or agreement not to xxx, Tenant or any other guarantor or other person liable in respect of any of the Lease Obligations; or (v) any release or discharge of Tenant in any creditor, receivership, bankruptcy or other proceeding; the impairment, limitation or modification of any liability of Tenant or remedy against Tenant in any such proceeding; or the rejection, disaffirmance, disallowance or the like of the Lease or this Guaranty in any such proceeding. Notwithstanding anything contained herein to the contrary, by acceptance of this Lease Guaranty, Landlord acknowledges that Landlord must first exhaust or pursue Landlord’s remedies available under the Lease, before Landlord proceeds directly, and recovers, against the Guarantor. Guarantor hereby waives notice of acceptance hereof, or any action taken or omitted in reliance hereof, or of any default of Tenant under the Lease. Guarantor will not exercise or enforce any right of contribution, reimbursement, recourse or subrogation available to Guarantor against any person liable for payment of the Lease Obligations, or as to any collateral security therefor, unless and until all of the Lease Obligations shall have been fully paid and discharged. Guarantor jointly and severally agrees to pay all costs and expenses, including reasonable attorney’s fees, incurred by Landlord in connection with the Tenant Improvementsprotection, defense or enforcement of this Guaranty. Tenant shall provideGREEN TREE INVESTMENT HOLDINGS II LLC, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance a Delaware limited liability company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.By: Name: Its:
Appears in 1 contract
Samples: Lease Agreement (Walter Investment Management Corp)
Landlord’s Contribution. A. (A) As an inducement for Tenant to enter into this Lease, Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) agrees to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly pay to Tenant and Tenant’s contractorsan allowance (the "Landlord's Contribution") in an amount not to exceed *** (calculated by ***). The Landlord’s 's Contribution shall be payable within 60 days after presentation applied towards the payment of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavitscosts incurred in connection with (i) the alterations, waivers of lien, additions and other documentation customarily provided to evidence performance of improvements furnished or installed in the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal Premises by Tenant which could have a material effect on the Building (in accordance with Article 35 hereof, including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and datadesign, architectural and engineering feesdrawings and (ii) such other expenses, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of including the cost of the Tenant Improvements pursuant furnishings, fixtures and equipment as are related to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant ImprovementsLease. Landlord shall make payments of The Landlord’s 's Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, applicable only in connection with the Tenant Improvementsinitial preparation for occupancy of the Premises. Tenant shall provide, for To the extent that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of the Landlord’s 's Contribution toward is used for the purchase of furnishings, fixtures or equipment, Tenant agrees that Landlord shall have a security interest in such furnishings, fixtures or equipment, and Tenant agrees to execute, upon Landlord's request, security agreements, UCC financing statements or other documents evidencing Landlord's security interest in such items.
(B) It shall be a condition of Landlord's obligation to pay any installment of the Landlord's Contribution for work performed by any contractor or supplier, other than those engaged by Landlord, that Tenant shall provide or cause to be provided to Landlord (to the extent customarily required by title insurance companies) contractor's affidavits and waivers of lien covering all labor and material used and expended for which contractors are requesting payment, and (if applicable) invoices establishing the actual cost of items purchased and labor provided, all ___________________ *** Confidential Information has been omitted and filed separately with the Securities and Exchange Commission. in form and content reasonably satisfactory to Landlord. it shall be a further condition to Landlord's obligation to pay or credit any amount of Landlord's Contribution at any time that Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided is not then in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, monetary default or in default under any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans other material terms, covenants and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent conditions of this Lease. Landlord's Contribution shall have any responsibility for construction meansbe advanced, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness upon satisfaction of the Plans and Specificationsforegoing conditions, or any design error thereinas costs are incurred, or failure subject to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationscustomary retainage.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Landlord agrees to pay to Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect an amount not to the Tenant Improvements. Fifty percent (50%) of exceed Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Initial Installations (excluding any "soft costs" (other than architectural, engineering, permit and construction consulting fees not in excess of $119,172) and Tenant's Property (other than the cost of Tenant's moveable walls and partitions)), provided that as of the date on which Landlord is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists. Accordingly, Tenant Improvementsmay use any amount of Landlord's Contribution to purchase and install moveable walls and partitions. Tenant shall pay all costs of the Initial Installations in excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to the Initial Installations and materials delivered to the Premises in connection with the Initial Installations (excluding any "soft costs" (other than architectural, engineering, permit and construction consulting fees not in excess of $119,172) and Tenant's Property (other than the cost of Tenant's moveable walls and partitions)). Tenant shall not be entitled to receive any portion of Landlord's Contribution not actually expended by Tenant in the performance of the Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in this Section 4.2, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord; provided, however, that notwithstanding anything contained herein to the contrary, the applicable portion of such retained amounts shall continue to be held for the benefit of Tenant by Landlord if Tenant delivers a notice to Landlord prior to satisfaction of the conditions set forth in this Section 4.2 that it is in dispute with any contractors, subcontractors, vendors or other providers of service and refuses to make payments at such time or if any contracts provide for retainage which has not then been finally paid.
(b) Landlord shall receive reasonable assurances from pay Landlord's Contribution to Tenant after the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion first anniversary of the Rent Commencement Date following commencement of Tenant's business operations at the Premises and the final completion of the Initial Installations, within 30 days after submission by Tenant Improvements for which payment is being sought has in fact to Landlord of a written requisition therefor, signed by the chief financial officer of Tenant and accompanied by (i) copies of paid invoices covering all of the Initial Installations, (ii) a written certification from Tenant's architect stating that (A) the Initial Installations described on such invoices have been completed in accordance with the Final Plans plans and Specifications.
H. It specifications approved by Landlord, (B) such work has been paid in full by Tenant and (C) all contractors, subcontractors and material suppliers have delivered to Tenant waivers of lien with respect to such work (copies of which shall be included with such architect's certification), (iii) proof of the satisfactory completion of all required inspections and the issuance of any required approvals and sign-offs by Governmental Authorities with respect thereto, (iv) final "as-built" plans and specifications for the Initial Installations as required pursuant to Section 5.1(c), (v) final lien waivers from all contractors, subcontractors and material suppliers covering all of the Initial Installations, and (vi) such other documents and information as Landlord may reasonably request, including title drawdowns and endorsements. The right to receive Landlord's Contribution is understood for the exclusive benefit of Tenant, and agreed that neither Landlord nor its designated agent in no event shall have any responsibility for construction means, methods such right be assigned to or techniques or safety precautions in connection with the Tenant Improvements, be enforceable by or for the accuracy benefit of any third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsother Person.
Appears in 1 contract
Samples: Lease (Advent Software Inc /De/)
Landlord’s Contribution. A. On completion of each of the Leases, the Landlord will carry out the following works and/or make the following contributions to the Tenant in respect of each of the Leases:
3.1 in respect of the Level 24 Lease, the Landlord shall provide its own cost and if requested by the Tenant supply and fit high quality carpet tiles from Xxxxxxxx sufficient to fully cover the floor area of the Xxxxx 00 Premises at a Net Internal Area of 10,723 sq ft;
3.2 in respect of the Xxxxx 00 Lease, the Landlord shall at its “as-is” conditionown cost and if requested by the Tenant supply and fit high quality carpet tiles from Xxxxxxxx sufficient to fully cover the floor area of the Xxxxx 00 Premises at a Net Internal Area of 10,727 sq ft;
3.3 in respect of the Xxxxx 00 Lease, the Landlord shall at its own cost and if requested by the Tenant supply and fit high quality carpet tiles from Xxxxxxxx sufficient to fully cover the floor area of the Xxxxx 00 Premises at a Net internal Area of 10,718 sq. ft;
3.4 the Landlord shall contribute the a sum of $297,280.00£22, which is Thirty Two ($32.00) Dollars per square foot of rentable area of 413.75 plus VAT towards the floor boxes in the Premises (9,290 rsfcalculated on the basis of £75 (plus VAT) to be improved (“Landlord’s Contribution”per floor box at a ratio of one box per 10 sq metres), toward ;
3.5 the hard Landlord shall supply and soft costs fit venetian horizontal perforated window blinds on the inside of all of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance external windows of the work Premises;
3.6 the Landlord shall deduct 100 sq ft from the Net Internal Area of the Xxxxx 00 Premises set out in the Xxxxxxx Xxxxxx Measurement Report dated April 2006 and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to £10,000 (exclusive of VAT) towards the cost of the Tenant Improvements in excess installation of the Landlord’s Contribution (“disabled toilet in the Level 26 Premises. Provided that, in relation to the carrying out of such works as set out in clauses 3.1, 3.2, 3.3 and 3.5 the Landlord shall ensure the works are carried out in a good and professional workmanlike manner and further in co-ordination with the Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other intended fit out works and duly consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, as to times of access and Landlord’s Contribution may be utilized to pay for; the Landlord ensuring (a) fees the minimum amount of interference and expenses of Tenant’s Architect disruption as is reasonably possible is caused and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect making good as soon as possible to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost reasonable satisfaction of the Tenant Improvements pursuant any damage or injury thereby caused to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlyPremises.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses Landlord agrees to pay to Tenant after the earlier to occur of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (bx) the cost of permits; (c) costs of construction escrow with a title company, if any; Commencement Date and (dy) any other costs reasonably incurred with respect the 17th Floor Premises Commencement Date an amount not to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of exceed Landlord’s Contribution toward the cost of the Tenant ImprovementsInitial Installations (excluding any “soft-costs” (other than architectural, engineering, permit and construction consulting fees not in excess of 15% of Landlord’s Contribution) and Tenant’s Property), provided that as of the date on which Landlord shall receive reasonable assurances from the title insurer as provided is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in paragraph 4.F.full force and effect, and certifications from the General Contractor and Xxxxxx(ii) no Event of Default then exists. Tenant may apply Landlord’s Architect, Tenant, Contribution to any inspecting architect, that the portion of the Premises, the 17th Floor Premises and/or the 22nd Floor Premises as Tenant Improvements sees fit. Tenant shall pay all costs of the Initial Installations in excess of Landlord’s Contribution. Landlord’s Contribution shall be payable solely on account of labor directly related to the Initial Installations and materials delivered to the Premises in connection with the Initial Installations (excluding any “soft-costs” (other than architectural, engineering, permit and construction consulting fees not in excess of 15% of Landlord’s Contribution) and Tenant’s Property). Tenant shall not be entitled to receive any portion of Landlord’s Contribution not actually expended by Tenant in the performance of the Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right to apply any unexpended portion of Landlord’s Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in Section 4.2, or upon the occurrence of the date which is 36 months after the Commencement Date (which date shall be extended by reason of strikes, labor trouble or any other similar cause beyond Tenant’s control in performing the Initial Installations), whichever first occurs, any amount of Landlord’s Contribution which has not been previously requisitioned shall be retained by Landlord; provided, however, that notwithstanding anything contained herein to the contrary, the applicable portion of such retained amounts shall continue to be held for the benefit of Tenant by Landlord if Tenant delivers a notice to Landlord prior to satisfaction of the conditions set forth in Section 4.2 that it is in dispute with any contractors, subcontractors, vendors or other providers of service and refuses to make payments at such time. Landlord acknowledges that Tenant may perform the Initial Installations in stages and that the completion of one stage of such work shall in no event limit Tenant’s right to obtain then unapplied portions of Landlord’s Contribution. Final completion of the Initial Installations shall not preclude Tenant from submitting requisitions in respect of costs incurred by Tenant prior to completing such work, provided such requisitions are submitted within 36 months after the Commencement Date (as extended as aforesaid).
(b) Landlord shall make progress payments to Tenant on a monthly basis, for the work performed during the previous month, up to 90% of Landlord’s Contribution. Each of Landlord’s progress payments shall be limited to an amount equal to the aggregate amounts theretofore paid by Tenant (as certified by an authorized officer of Tenant and by Tenant’s independent architect) to Tenant’s contractors, subcontractors and material suppliers which have not been subject to previous disbursements from Landlord’s Contribution multiplied by 90%. Provided that Tenant delivers requisitions to Landlord on or prior to the 10th day of any month, such progress payments shall be made within 30 days next following the delivery to Landlord of requisitions therefor, signed by an authorized officer of Tenant, which requisitions shall set forth the names of each contractor and subcontractor to whom payment is due, and the amount thereof, and shall be accompanied by (i) with the exception of the first requisition, copies of partial waivers of lien from all contractors, subcontractors, and material suppliers covering all work and materials which were the subject of previous progress payments by Landlord and Tenant, (ii) a written certification from Tenant’s architect that the work for which payment the requisition is being sought made has in fact been completed substantially in accordance with the Final Plans plans and Specifications.
H. It is understood specifications approved by Landlord and agreed that neither (iii) such other documents and information as Landlord nor its designated agent shall have any responsibility for construction meansmay reasonably request, methods or techniques or safety precautions including in connection with title drawdowns and endorsements. Any requisition made following the 10th day of any month shall be paid no later than the last day of the month following the month in which such requisitions are made. Landlord shall disburse any amount retained by it hereunder upon submission by Tenant Improvementsto Landlord of Tenant’s requisition therefor accompanied by all documentation required under this Section 4.2(b), together with (A) proof of the satisfactory completion of all required inspections and issuance of any required approvals, permits and sign-offs for the Initial Installation by Governmental Authorities having jurisdiction thereover, (B) final plans and specifications for the Initial Installations as required pursuant to Section 5.1(c) and (C) issuance of final lien waivers by all contractors, subcontractors and material suppliers covering all of the Initial Installations. Notwithstanding the foregoing, if at the time of disbursement of Landlord’s Contribution, Tenant has not obtained lien waivers from any contractor, subcontractor or material supplier, then Landlord shall disburse the unpaid portion of Landlord’s Contribution in respect of the Initial Installations to the extent Tenant has obtained lien waivers in respect thereof and shall disburse the remainder of Landlord’s Contribution in respect thereof when Tenant has received the lien waivers issued by such contractor, subcontractor and/or material supplier in respect threrof. The right to receive Landlord’s Contribution is for the exclusive benefit of Tenant, and in no event shall such right be assigned to or be enforceable by or for the accuracy benefit of any third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsother Person.
Appears in 1 contract
Samples: Lease Agreement (Greenhill & Co Inc)
Landlord’s Contribution. A. Subject to the provisions of Article 5 of this Lease, and except for the work to be performed by Landlord shall provide pursuant to Section 2.02, Tenant agrees to perform the initial work and installations required to make the Demised Premises in its “as-is” conditionsuitable for the conduct of Tenant's business. Tenant agrees to deliver to Landlord, for Landlord's approval the plans and specifications for Tenant's initial work within sixty (60) days following the Commencement Date (the "initial work"). Landlord shall agrees to contribute up to the sum of $297,280.001,912,500.00 ("Landlord's Contribution") toward the cost of such work, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the shall include hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly costs. Landlord shall pay to Tenant, Xxxxxx’s contractorsfrom time to time, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided but not more often that Landlord is provided contractors’ affidavitsonce a month, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution ninety (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (5090%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord percent of the cost of the work requested by Tenant Improvements pursuant theretofore performed by the contractor, provided Tenant delivers to Landlord concurrently with its request, receipted bills of the contractor involved approved by Tenant, a certificate by Tenant's architect that such bills have been approved and the work or materials evidenced by such bills have been satisfactorily performed or delivered and a waiver of mechanic's lien signed by the contractor with respect to the Final Plans amount paid as evidenced by the receipted xxxx, such payment to be made to Tenant within ten (10) days after receipt of Tenant's request together with the aforesaid documentation. Within ten (10) days after Landlord receives a certificate from Tenant's architect stating that Tenant's work has been substantially completed, that the same has been performed in compliance with all applicable Governmental Requirements and Specifications on the basis approved plans and specifications and delivery to Landlord, if applicable, of a construction contract or contracts executed the final "sign-off" letters and equipment use permits (as necessary) for all work performed from the applicable municipal authorities, Landlord shall pay to Tenant the aggregate of the ten (10%) percent sums retained by Tenant for the Tenant ImprovementsLandlord. Landlord shall make payments have no obligation or responsibility to pay any cost exceeding the amount of Landlord’s Contribution on account 's Contribution. If the amount Tenant expends for the cost exceeds the amount of Landlord's Contribution, Tenant shall be responsible for the payment to the contractors of the cost excess. If said amount is less than the amount of Landlord's Contribution, Landlord shall apply such difference to the payment of minimum rent as and when the same would otherwise become due and payable under this Lease. Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid indemnify and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over hold Landlord harmless from and against any and all possible mechanics’ lien claims, or rights thereto, costs and expenses in connection with such work exceeding the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion amount of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications's Contribution.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Cmgi Inc)
Landlord’s Contribution. A. Landlord shall shall, in the manner hereinafter set forth, provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty to Tenant up to One Hundred Three Thousand Two Hundred and 00/100 ($32.00103,200.00) Dollars per square foot ("Landlord's Contribution") towards the cost of rentable area of leasehold improvements to be installed by Tenant in the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”"Tenant's Work"), toward the hard and soft costs of the . Provided that Tenant Improvements, which amount, is not in Default at the option time that Tenant submits any requisition on account of TenantLandlord's Contribution, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution Landlord shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to pay the cost of the work shown on each requisition (as hereinafter defined) submitted by Tenant Improvements to Landlord within thirty (30) days of submission thereof by Tenant to Landlord. Tenant shall perform Tenant's Work in excess of accordance with the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this RiderLease including, hard costs without limitation, Article 9 thereof. Without limiting the foregoing, Tenant shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, commence Tenant's Work unless and Landlord’s Contribution may be utilized to pay for; until (ai) fees and expenses of Landlord has approved Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings 's plans and specifications for such work and Tenant's architect and contractors therefor, and (ii) Landlord has received certificates of insurance satisfactory to Landlord from Tenant's contractors. Tenant's Work shall be performed so as not to cause any conflict or labor dispute with other work being performed in the Tenant Improvements Building. Tenant's Work may be performed during business hours, other than painting which may be performed only during non-business hours. However, Landlord shall have the right, upon notice to Tenant, to require that any or by all portions of Tenant's Work be performed during non-business hours if any such work interferes, in Landlord's judgment, with other tenants in the Building.
B. For the purposes hereof, a proposal by Tenant which could have a material effect on the Building "requisition" shall mean AIA Form 3702 For Application of Payment, and written documentation (including, without limitation, its structure or systems)invoices from Tenant's contractor, written lien waivers in a form acceptable to Landlord, and such other documentation as Landlord's mortgagee may reasonably request) showing in reasonable detail the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow the renovations to date in the premises, accompanied by certifications from Tenant, Tenant's architect, and Tenant's contractor that the work performed to date has been performed in accordance with a title companyapplicable laws and in accordance with Tenant's approved plans, if any; and (d) any other costs reasonably incurred with respect to that the Tenant Improvements. Fifty percent (50%) amount of Landlord’s Contribution which the Tenant requisition in question does not use for exceed the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any amount of the unused tenant improvement allowance work covered by such requisition. Each requisition shall be used as additional rent abatement against accompanied by evidence reasonably satisfactory to Landlord that all work covered by previous requisitions has been fully paid by Tenant. Landlord shall have the first rent dollars owing under right, upon reasonable advance notice to Tenant, to inspect Tenant's books and records relating to each requisition in order to verify the leaseamount thereof. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not submit requisition(s) no more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Office Lease (Purchasesoft Inc)
Landlord’s Contribution. A. Landlord shall provide Subject to the Premises in its “as-is” condition. terms and conditions hereinafter set forth, Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved an amount (“Landlord’s Contribution”), toward ) equal to the hard and soft costs sum of (a) $49.99 multiplied by the RSF of the Initial Office Space (excluding the RSF of the Short Term Expansion Space if leased by Tenant Improvementshereunder) and (b) if the Short Term Expansion Space is leased by Tenant hereunder pursuant to Section 1.03 hereof, which amount$45.00 multiplied by the RSF of the Short Term Expansion Space to be applied towards the Hard Costs and, at subject to the option provisions of Section 36.06 hereof, Soft Costs of Tenant, maybe disbursed directly ’s Initial Work. No portion of Landlord’s Contribution shall be permitted to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractorsbe used for the FF&E Work. Landlord’s Contribution shall be payable within 60 days after presentation of invoices anddisbursed to Tenant as hereinafter provided.
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“shall be disbursed in Pro Rata Installments upon Tenant’s Contribution”).
D. For purposes of this Riderrequest for payment, hard costs and shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted be paid to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs Tenant as provided in Section 36.02 hereof upon satisfaction of the following conditions with respect to each such request for payment:
(i) Tenant Improvements shall includehave delivered to Landlord a completed requisition AIA Form G702/703, signed by Tenant’s general contractor or construction manager, signed and Landlordcertified as true (to such person’s Contribution may be utilized to pay for; (aknowledge) fees by Tenant and by Tenant’s Architect, stating the amount requested for payment, which shall include an itemized breakdown of the costs and expenses actually paid by or on behalf of Tenant on account of Tenant’s Architect Initial Work, stating the percentage of Tenant’s Initial Work that has been completed, and shall indicate retainage of payments by Tenant to the Consulting Engineerscontractors, andsub-contractors, consultants, materialmen, engineers, architects and others performing Tenant’s Initial Work or providing services in respect thereof (collectively, “Contractors”) equal to ten percent (10%) until Tenant’s Initial Work is eighty percent (80%) complete and thereafter five percent (5%), except that no such retainages need be required under contracts for less than $50,000 or which, in accordance with good construction practice, do not customarily include retainages (it being understood that any request for payment hereunder shall not be on account of such required retainage). Notwithstanding the foregoing, if required the work, labor and/or services performed by any particular trade(s) in connection with Tenant’s Initial Work shall have been fully completed, any retainage solely attributable thereto shall be released by Landlord to Tenant upon and subject to the complexity other applicable terms of plansthis Article 36, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems)the receipt by Landlord of executed final lien waivers therefrom;
(ii) Except as provided in Section 36.03 hereof, each Pro Rata Installment of Landlord’s Contribution shall be in an amount not to exceed the fees aggregate amounts theretofore actually paid (as certified by Tenant and expenses Tenant’s Architect) to the Contractors that have not been the subject of other consultants a previous disbursement from Landlord’s Contribution;
(iii) Landlord shall have received (a) copies of all receipts, invoices and professionals engaged bills for the work completed and materials furnished in connection with Tenant’s Initial Work which have been paid by Xxxxxxxx; Tenant and for which Tenant is seeking reimbursement and (b) if requested by Landlord, copies of all contracts, work orders, change orders and other materials relating to the work or materials which are the subject of the requested disbursement or reimbursement;
(iv) A certificate signed by Tenant and Tenant’s Architect, dated not more than ten (10) days prior to such request, setting forth (A) an itemized account of the sums paid by Tenant for amounts justly due to all Contractors who have rendered services or furnished materials in connection with Tenant’s Initial Work, (B) that the work described in the certificate has been completed substantially in accordance with the Final Working Drawings previously approved (or deemed approved) by Landlord, (C) that Tenant has not received notice of the filing with respect to the Premises or the Building or any part thereof or any improvements thereon, any vendor’s, mechanic’s, laborer’s, materialmen’s or other liens arising out of Tenant’s Initial Work which have not been discharged of record or bonded over, (D) that to Tenant’s knowledge, Tenant has complied with all of the material conditions set forth in this Lease applicable to Tenant’s Initial Work reflected in the requisition then pending and (E) that to Tenant’s knowledge, Tenant has complied with Legal Requirements applicable to Tenant’s Initial Work reflected in the requisition then pending;
(v) A statement from Tenant’s Architect setting forth the total remaining cost of permitsTenant’s Initial Work to be performed, including without limitation, an itemization of any additional costs not theretofore disclosed to Landlord;
(vi) Tenant shall have fully paid all bills for labor, materials and services in connection with Tenant’s Initial Work performed through the date of the prior Pro Rata Installment for the costs with respect to which such prior request for payment was made and Tenant shall provide Landlord with (a) evidence reasonably satisfactory to Landlord to evidence of payment thereof, including paid bills and cancelled checks, and (b) executed partial lien waivers in respect of such prior payment from the general contractor or construction manager performing Tenant’s Initial Work and all other Contractors performing portions of Tenant’s Initial Work, respecting work performed and, if the work, labor and/or services performed by any such particular Contractor shall have been completed, executed final lien waivers;
(vii) Tenant has not requested reimbursement with respect to any Long Lead Items or any materials stored off-site unless the same have been incorporated into Tenant’s Initial Work and reasonable evidence thereof has been provided to Landlord; and
(viii) Tenant shall not then be in monetary default or material non-monetary default under this Lease, in each instance beyond the expiration of any applicable notice and/or cure period under this Lease and no Bankruptcy Event has occurred.
36.02 The payment of all Pro Rata Installments of Landlord’s Contribution by Landlord to Tenant will be made not more often than once each month and within twenty (20) days after a complete requisition package (i.e., all of the required items referred to above in the proper form) shall have been received by Landlord. To the extent applicable, Landlord agrees to use good faith efforts to provide Tenant with a notice setting forth a reasonably detailed list of the reasons why any requisition package is not complete within ten (10) days after receipt of Tenant’s requisition package. In the event any mechanic’s lien shall have been filed relating to any work that has been performed by or for Tenant, the additional amount of such lien may be withheld from payment until such lien has been removed by bond or otherwise; provided, however, that Landlord shall promptly disburse the amount withheld upon the bonding or other removal of such lien.
36.03 The final Pro Rata Installment of Landlord’s Contribution, shall not be paid until, in addition to satisfaction of the provisions above, (a) all municipal department(s) and governmental authorities have issued all required sign-off(s) relating to Tenant’s Initial Work, (b) a certificate signed by Tenant’s Architect and Tenant certifying that Tenant’s Initial Work has been Substantially Completed in accordance with the approved Final Working Drawings, (c) costs of a general release or final lien waiver from the general contractor or construction escrow with a title companymanager performing Tenant’s Initial Work and all other Contractors performing Tenant’s Initial Work or providing services in respect thereof, if any; releasing Landlord and Tenant from any and all liability for any work or materials and (d) any such other costs documentation as Landlord may reasonably incurred with respect require and is reasonably available. At such time as Tenant shall have provided to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any Landlord all of the unused tenant improvement allowance shall be used as additional rent abatement against items required hereby and provided Tenant is not then otherwise in monetary default or material non-monetary default under this Lease, in each instance, beyond the first rent dollars owing under the lease. Tenant shall advise Landlord expiration of the cost of the Tenant Improvements pursuant to the Final Plans any applicable notice and/or cure period and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. there is then no Bankruptcy Event, Landlord shall make payments of Landlord’s Contribution on account of release to Tenant the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the that was withheld pursuant to Section 36.01B(i) hereof (or, if Tenant Improvementshas not theretofore submitted any requisitions for Pro Rata Installments, Landlord shall receive reasonable assurances from pay 100% of the title insurer as provided in paragraph 4.F.requisitioned amount, and certifications from not to exceed, however, the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the then unused portion of the aggregate Landlord’s Contribution that is then available to Tenant Improvements for which payment is being sought has in fact been completed in accordance with pursuant to this Lease). In no event shall the Final Plans aggregate amount paid by Landlord to Tenant pursuant to this Article 36 exceed the aggregate Landlord’s Contribution that shall become available to Tenant upon and Specificationssubject to the terms of this Article.
H. It is understood 36.04 Tenant agrees that it shall pay and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or be solely responsible for the accuracy or completeness payment of all amounts necessary to fully complete all of Tenant’s Initial Work to the Plans and Specificationsextent the cost thereof exceeds Landlord’s Contribution.
36.05 For the purposes of this Article, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.term “
Appears in 1 contract
Samples: Lease Agreement (Legg Mason Inc)
Landlord’s Contribution. A. (A) Tenant shall submit to Landlord complete and detailed architectural, mechanical and engineering plans and specifications showing the alterations and improvements required by Tenant to the demised premises to prepare the same for Tenant's occupancy ("Tenant's Initial Installation") consistent with the provisions of Article 55. Tenant shall provide Landlord with a copy of the final contract with the general contractor (or, if Tenant is performing Tenant's Initial Installation without a general contractor, then a copy of all contracts relating to Tenant's Initial Installation), which contract(s) shall be certified by Tenant and the general contractor (or contractors) as being true and complete.
(B) Subject to the terms and conditions set forth below, Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum reimburse Tenant up to a maximum amount of $297,280.00, which is Thirty One Million Two Hundred Ten Thousand and 00/100 ($32.001,210,000.00) Dollars per square foot ("Landlord's Contribution") for costs incurred by Tenant in connection with Tenant's Initial Installation (inclusive of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or engineering, legal and other consulting fees, the cost of procurement and/or installation of furnituremoving expenses, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) permit fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systemsinterest), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Riderdisburse from time to time, but not more often than monthly.
F. The cost once in any thirty (30) day period, within ten (10) business days of receipt of each Tenant's request, that portion of Landlord's Contribution equal to ninety percent (90%) of the Tenant Improvements amount set forth in Tenant's requisition, provided, however, that no advance shall be paid made if and disbursed so long as required Tenant shall be in default under this lease beyond any applicable notice and cure period. No advance shall be made until receipt of a request therefor from Tenant and the submission by Tenant of the title insurance company insuring following:
(i) A certificate signed by Tenant and Tenant's architect dated not more than fifteen (15) days prior to such request setting forth (a) the Building in order sum then justly due to provide title insurance over any contractors, subcontractors, materialmen, engineers, architects and all possible mechanics’ lien claims, other persons who have rendered services or rights thereto, furnished materials in connection with Tenant's Initial Installation, (b) a brief description of such services and materials and the Tenant Improvements. Tenant shall provideamounts paid or to be paid from such requisition to each of such persons in respect thereof, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, (c) that the portion of work described in the Tenant Improvements for which payment is being sought certificate has in fact been completed substantially in accordance with the Final Plans, (d) that there has not been filed with respect to the demised premises or the Building or any part thereof or any improvements thereon, any vendor's, mechanic's, laborer's, materialmen's or other like liens arising out of Tenant's Initial Installation which has not been discharged of record or which Tenant is proceeding with diligence to have discharged of record, and (e) that Tenant has complied with all of the conditions set forth in Articles 3, 54 and 55 of this lease, including the requirement that Tenant comply with all applicable governmental and quasi-governmental laws, rules and regulations; and Re: 18th, 19th, 20th, 21st and Xxxxxxxxx Xxxxxx 0 Xxxx 00xx Xxxxxx
(ii) Partial lien waivers, paid receipts or such other proof of payment as Landlord shall reasonably require for all work done and material supplied prior to the current requisition. Upon the substantial completion of Tenant's Initial Installation, Landlord shall, upon receipt of all of the foregoing, disburse to Tenant the amount, if any, equal to the amount by which ninety percent (90%) of the portion of Landlord's Contribution for which Tenant has submitted payment requests exceeds the amount of Landlord's Contribution theretofore disbursed. Landlord shall disburse the remaining ten percent (10%) balance of the portion of Landlord's Contribution for which Tenant has submitted payment requests upon receipt of all of the foregoing plus (w) final "as built" plans of the demised premises showing Tenant's Initial Installation, (x) delivery of Building Department filing documents, permits, approvals and Building and Fire Department signoffs, (y) delivery of lien waivers by the general contractor and all major subcontractors involved with the installation, and (z) the completion of an inspection by Landlord confirming that the work set forth in the Final Plans has been completed, which Landlord agrees to conduct within three (3) business days after Tenant's request. Notwithstanding the foregoing, Tenant's right to collect Landlord's Contribution shall exist only with respect to work performed by Tenant during the first twelve (12) months of the Term subject to delays beyond Tenant's control; to the extent not utilized within such period, Landlord's Contribution shall be deemed waived by Tenant and SpecificationsLandlord shall be under no further obligation to make any further payments to Tenant for Landlord's Contribution or otherwise with respect to Tenant's Initial Installation.
H. It is understood and agreed that neither (C) Notwithstanding anything to the contrary contained in this Article 63, Tenant may defer the 19th Floor portion of Tenant's Initial Installation until Landlord nor its designated agent shall have delivered the possession of the entire 19th Floor to Tenant, and Tenant shall be entitled to receive all disbursements of Landlord's Contribution, including the final ten (10%) percent of Landlord's Contribution, even though the 19th Floor portion of Tenant's Initial Installation shall not be complete on the date of Tenant's request therefor. In the event that Tenant does not otherwise expend an amount sufficient to receive the entire amount of Landlord's Contribution, Tenant shall be entitled to apply the remaining balance of Landlord's Contribution to the 19th Floor portion of Tenant's Initial Installation and any responsibility request for construction means, methods or techniques or safety precautions disbursement in connection with therewith may be made within twelve (12) months after the Tenant Improvements, or for the accuracy or completeness date on which Landlord has delivered possession of the Plans and Specificationsentire 19th Floor to Tenant, or any design error therein, or failure subject to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsdelays beyond Tenant's control.
Appears in 1 contract
Samples: Office Lease (Mounger Corp)
Landlord’s Contribution. A. (A) Following the approval by Landlord shall provide of final, coordinated architectural and engineering so-called “issued for construction” plans prepared by Tenant (the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00"Plans") Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of for the work and waiver installations to be performed for the initial occupancy of claims for lien for work performed the Demised Premises by Tenant (the “Initial Work”) Tenant shall perform the Initial Work in accordance with this lease as a Tenant's Change (as hereinafter defined). Tenant hereby agrees that such Initial Work shall include a complete renovation of the core restrooms (the “New Core Restrooms”) located in the Demised Premises, subject to the date terms and conditions hereof. In consideration of any such payment.
C. Tenant shall contribute an amount equal to the cost performing all of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building Initial Work (including, without limitation, its structure installation of the New Core Restrooms) and for Tenant completing such work, Landlord shall, subject to the terms and conditions of Subsection 4.03(B) hereof, reimburse or systemscause to be reimbursed to Tenant or otherwise disbursed in connection with the Initial Work, an amount equal to the lesser of (i) the actual cost of physical improvements performed as part of the Initial Work and related Soft Costs (as hereinafter defined); or (ii) Seven Million Five Hundred Eighty Thousand Five Hundred Sixty and 00/100 ($7,580,560.00) Dollars ("Landlord's Contribution"), the fees it being understood and agreed that Landlord's Contribution shall not exceed such sum, and that all costs and expenses in excess of other consultants and professionals engaged said sum shall be borne solely by Xxxxxxxx; Tenant. An amount not to exceed twenty (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (5020%) percent of Landlord’s Contribution which the Tenant does not use shall be available to pay for the Tenant Improvements may be utilized to offset the cost associated with construction costsSoft Costs, provided that Landlord shall have received reasonably satisfactory evidence of such Soft Costs. For purposes of this Article, the purchase term "Soft Costs" shall mean out-of-pocket costs incurred by Tenant in connection with the Initial Work for architectural, engineering, preparation of the Plans and installation issuance of permits, furniture and telephone systemsequipment acquired for use in the Demised Premises, cabling the premise for voice and data, architectural and engineering consulting fees, project management acoustical and lighting specialists, permitting and expeditor fees, moving costs, instalments, data, cabling and the termination penalty at AmeriQuest’s current facilitywiring, telecommunications systems and project management fees. Any of the unused tenant improvement allowance Satisfactory evidence, for such purposes, shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant deemed to the Final Plans be invoices, paid receipts, cancelled checks and Specifications on the basis of a construction contract or contracts executed by Tenant bills for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlysuch items.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Original Bark Co)
Landlord’s Contribution. A. (a) Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) pay to be improved (“Tenant an amount not to exceed Landlord’s Contribution”), Allowance toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Initial Installations and the Initial Installations in the Xxxxxxx Park Space (provided that any requisition shall clearly designate which portions, if any, of Landlord’s Allowance that are being applied to Initial Installations in the Xxxxxxx Park Space), provided that as of the date on which Landlord is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists; provided that if an Event of Default exists, Landlord shall be required to make such payments after Tenant Improvements has cured such Event of Default. Tenant shall pay all costs of the Initial Installations in excess of the Landlord’s Contribution (“Allowance. Landlord’s Allowance shall be payable with respect to all matters associated with the construction of the Initial Installations and Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs occupancy of the Tenant Improvements shall includePremises, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering feesclosing costs, project management fees, moving expenses, architectural and engineering costs, wiring and cabling work, special electrical power equipment, telephone and security systems, signage, and any furniture, fixtures or equipment installed in the Premises. In addition, Landlord shall provide a space planning allowance (the “Space Planning Allowance”) of up to $14,302.80 to reimburse Tenant for the architectural and engineering fees incurred by Tenant in preparing initial space plans for the Premises. The Space Planning Allowance shall be paid by Landlord to Tenant within thirty (30) days after Tenant’s delivery to Landlord of Tenant’s invoice therefor accompanied by copies of third party invoices evidencing the amount of the reimbursed costs. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in this Section 4.2, or upon the occurrence of the date which is thirty-six (36) months after the 6th Floor Premises Commencement Date, whichever first occurs, any amount of Landlord’s Allowance and/or the Space Plan Allowance which has not been previously disbursed shall be retained by Landlord and Tenant shall have no further right or claim thereto. In addition, Landlord shall pay to Tenant an amount not to exceed Landlord’s Bathroom Upgrade Allowance toward the costs and expenses incurred by Tenant in renovating the upgrading the bathrooms on the 4th floor and the termination penalty at AmeriQuest’s current facility. Any 5th floor of the unused tenant improvement allowance Building. Tenant agrees that the bathroom upgrading work shall be used as additional rent abatement against at least the first rent dollars owing under minimum necessary to enable the leaseBuilding to obtain the lowest form of LEED certification. Tenant shall advise Landlord Landlord’s approval of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant ImprovementsInitial Installations shall conclusively evidence that the bathroom work contemplated thereby satisfies the requirements of the preceding sentence. The Landlord’s Allowance and the Landlord’s Bathroom Upgrade Allowance are sometimes referred to herein collectively as the “Landlord’s Contribution.”
(b) Landlord shall make progress payments on account of Landlord’s Contribution to Tenant on account a monthly basis, for the work performed during the previous month. Each of Landlord’s progress payments shall be limited to an amount equal to the cost amounts due (as certified by a duly authorized officer of Tenant Improvements and by Tenant’s independent architect) to Tenant’s contractors, subcontractors and material suppliers which have not been subject to previous disbursements from Landlord’s Contribution multiplied by a fraction, the numerator of which is the amount of Landlord’s Contribution, and the denominator of which is the total contract price (or, if there is no specified or fixed contract price for the Initial Installations, then based upon compliance with Tenant’s budget as to the requirements of this Rider, but not more often than monthly.
F. The estimated cost of the Initial Installations, which budget Tenant Improvements shall share with Landlord) for the performance of all of the Initial Installations shown on all plans and specifications approved by Landlord, provided that in no event shall such fraction be paid greater than one. Notwithstanding the foregoing, for and disbursed as required by the title insurance company insuring the Building in order with respect to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, each progress payment that reimburses Tenant solely for so-called “soft costs” incurred in connection with the Tenant Improvementsdesign of the Initial Installations shall be in an amount equal to one hundred percent (100%) of the amount of the requisition for such soft costs. Tenant Such progress payments shall providebe made within thirty (30) days following the delivery to Landlord of requisitions therefor. Each requisition shall be executed by a duly authorized officer of Tenant, for and shall be accompanied by (i) with the exception of the first requisition, copies of partial waivers of lien from all contractors, subcontractors, and material suppliers covering all work and materials which were the subject of previous progress payments by Landlord and Tenant, (ii) a certification from Tenant’s architect that the work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial the requisition is being made has been performed substantially in accordance with the plans and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested specifications approved by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or and (iii) such other documents and information as Landlord may reasonably request. Landlord shall disburse the final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion requisition of Landlord’s Contribution toward upon submission by Tenant to Landlord of Tenant’s requisition therefor accompanied by all documentation required under the cost foregoing provisions of this Section 4.2(b), together with (A) proof of the Tenant Improvementssatisfactory completion of all required inspections and issuance of any required approvals, Landlord shall receive reasonable assurances permits and sign-offs for the Initial Installations by Governmental Authorities having jurisdiction thereover (including issuance of a permanent certificate of occupancy for the Premises), (B) final “as-built” plans and specifications for the Initial Installations as well as record drawings from the title insurer as provided Tenant’s architect and engineer in paragraph 4.F.AutoCAD format, and certifications from (C) issuance of final, unconditional lien waivers by all contractors, subcontractors and material suppliers covering all of the General Contractor and XxxxxxInitial Installations. The right to receive Landlord’s Architect, Contribution is for the exclusive benefit of Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has and in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent no event shall have any responsibility for construction means, methods such right be assigned to or techniques or safety precautions in connection with the Tenant Improvements, be enforceable by or for the accuracy benefit of any third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or completeness other person or entity. Notwithstanding the foregoing, if Tenant submits a valid and proper requisition for payment of the Plans Landlord’s Contribution, and Specificationsall of the conditions thereto as set forth above have been timely, or any design error thereinfully and completely satisfied in full, or and Landlord shall fail timely to pay the amount requested and such failure shall continue for sixty (60) days after Tenant provides a written notice to Landlord which expressly and specifically identifies such failure to comply with any laws or codes or any costs attributable pay the amount requested and specifically references this Section 4.2, then Tenant shall have the right to any lack set-off such unpaid amount, plus interest accruing at the Interest Rate from the date that such amounts were due from Landlord until paid, against the next monthly installments of adequacy of or any design error in the Plans and SpecificationsFixed Rent payable under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Pegasystems Inc)
Landlord’s Contribution. A. Subject to the provisions of Article 5 of this Lease, and except for the work to be performed by Landlord shall provide pursuant to Section 2.02, Tenant agrees to perform the initial work and installations required to make the Demised Premises in its “as-is” conditionsuitable for the conduct of Tenant's business. Tenant agrees to deliver to Landlord, for Landlord's approval the plans and specifications for Tenant's initial work within sixty (60) days following the Commencement Date (the "initial work"). Landlord shall agrees to contribute up to the sum of $297,280.00525,000.00 ("Landlord's Contribution") toward the cost of such work, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the shall include hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly costs. Landlord shall pay to Tenant, Xxxxxx’s contractorsfrom time to time, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided but not more often that Landlord is provided contractors’ affidavitsonce a month, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution ninety (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (5090%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord percent of the cost of the work requested by Tenant Improvements pursuant theretofore performed by the contractor, provided Tenant delivers to Landlord concurrently with its request, receipted bills of the contractor involved approved by Tenant, a certificate by Tenant's architect that such bills have been approved and the work or materials evidenced by such bills have been satisfactorily performed or delivered and a waiver of mechanic's lien signed by the contractor with respect to the Final Plans amount paid as evidenced by the receipted xxxx, such payment to be made to Tenant within ten (10) days after receipt of Tenant's request together with the aforesaid documentation. Within ten (10) days after Landlord receives a certificate from Tenant's architect stating that Tenant's work has been substantially completed, that the same has been performed in compliance with all applicable Governmental Requirements and Specifications on the basis approved plans and specifications and delivery to Landlord, if applicable, of a construction contract or contracts executed the final "sign-off" letters and equipment use permits (as necessary) for all work performed from the applicable municipal authorities, Landlord shall pay to Tenant the aggregate of the ten (10%) percent sums retained by Tenant for the Tenant ImprovementsLandlord. Landlord shall make payments have no obligation or responsibility to pay any cost exceeding the amount of Landlord’s Contribution on account 's Contribution. If the amount Tenant expends for the cost exceeds the amount of Landlord's Contribution, Tenant shall be responsible for the payment to the contractors of the cost excess. If said amount is less than the amount of Landlord's Contribution, Landlord shall apply such difference to the payment of minimum rent as and when the same would otherwise become due and payable under this Lease. Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid indemnify and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over hold Landlord harmless from and against any and all possible mechanics’ lien claims, or rights thereto, costs and expenses in connection with such work exceeding the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion amount of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications's Contribution.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease (Cmgi Inc)
Landlord’s Contribution. A. 49.01 Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to Landlord shall provide for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications in a form ready for use as construction drawings for the installation of alterations, installations, decorations and improvements in the Premises to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Initial Alteration Work”). All such construction plans and specifications and all such work shall be effected in its “as-is” conditionaccordance with all applicable provisions of the Lease at Tenant’s sole cost and expense. If and so long as Tenant is not in default under the Lease, subject to and in accordance with the provisions of this Article, Landlord shall contribute up to the sum of $297,280.00, which is Thirty Two 355,880.00 ($32.00"Landlord's Contribution") Dollars per square foot to the cost of rentable area labor and materials for the portion of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractorsInitial Alteration Work which constitutes Qualified Renovations. "Qualified Renovations" shall be defined as the labor and materials used by Tenant to construct permanent leasehold improvements and alterations to the Premises in compliance with this Lease after the date hereof and prior to November 1, 2006. Without limitation, for purposes of this Article, Qualified Renovations shall be deemed not to include and Landlord’s Contribution shall not be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal applied to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Riderinterest, hard costs shall not include any architecturallate charges, engineering or other consulting trade fixtures, furniture, furnishings, equipment, professional fees, workstations, work surfaces (whether or not affixed to walls and/or convector covers), related cabinetry, moveable business equipment or any personal property whatsoever, or to the cost of procurement and/or installation of furniturelabor, furniture and/or demountable partitions, indirect lighting mounted materials or services used to furniture and/or demountable partitions furnish or significant areas of raised computer flooring including all infrastructure associated with such installationsprovide the same.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Fusion Telecommunications International Inc)
Landlord’s Contribution. A. (a) Landlord shall provide agrees to pay to Tenant, toward payment of the Premises cost of the work to be performed by Tenant in its “as-is” condition. Landlord shall contribute the sum connection with Tenant's initial occupancy of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area each Portion of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”the "Initial Installations"), toward an amount not to exceed Landlord's Contribution for such Portion of the hard Premises, provided that as of the date on which Landlord is required to make each respective payment pursuant to Section 4.2(b): (i) this Lease is in full force and soft effect, and (ii) no Event of Default then exists. Tenant shall pay all costs of the Tenant Improvements, which amount, at the option Initial Installations in excess of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractorsLandlord's Contribution. Landlord’s 's Contribution shall be payable within 60 days after presentation solely on account of invoices and
B. upon Xxxxxx’s request as work progresses provided labor directly related to the Initial Installations and materials delivered to the Premises in connection with the Initial Installations, except that Landlord is provided contractors’ affidavitsTenant may apply up to 5% of Landlord's Contribution to pay "soft costs" incurred in connection with the Initial Installations, waivers which shall be limited to the actual architectural, consulting and engineering fees incurred by Tenant in connection therewith. Tenant shall not be entitled to receive any portion of lien, and other documentation customarily provided to evidence Landlord's Contribution not actually expended by Tenant in the performance of the work and waiver Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right to apply any unexpended portion of claims Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Notwithstanding anything to the contrary contained in this Section 4.2, Tenant shall not be entitled to receive any portion of Landlord's Contribution payable with respect to any Portion of the Premises prior to delivery to Tenant of the applicable Portion of the Premises.
(b) Landlord shall make progress payments of Landlord's Contribution to Tenant on a monthly basis, for lien for the work performed during the previous month, less a retainage of 10% of each progress payment (the "Retainage"). Each of Landlord's progress payments will be limited to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost aggregate amounts (reduced by the Retainage) theretofore paid by Tenant (as certified by the chief financial officer of Tenant and by Tenant's independent, licensed architect) to Tenant's contractors, subcontractors and material suppliers which have not been the subject of a previous disbursement from Landlord's Contribution for such Portion of the Tenant Improvements in excess Premises, multiplied by a fraction, the numerator of which is the amount of Landlord's Contribution for such Portion of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costsPremises, and the termination penalty at AmeriQuest’s current facility. Any denominator of which is the total contract price (or, if there is no specified or fixed contract price for the Initial Installations for such Portion of the unused tenant improvement allowance Premises, then Landlord's reasonable estimate thereof) for the performance of all of the Initial Installations for such Portion of the Premises shown on all plans and specifications approved by Landlord, provided that in no event shall such fraction be greater than 1. Such progress payments shall be used as additional rent abatement against made no more than once each calendar month within 30 days next following the delivery to Landlord of requisitions therefor, signed by a financial officer of Tenant, which requisitions shall set forth the names of each contractor, subcontractor and material supplier to whom payment is due, and the amount thereof, and shall be accompanied by (1) with the exception of the first rent dollars owing under requisition, copies of partial waivers of lien from all contractors, subcontractors and material suppliers covering all work and materials which were the lease. Tenant shall advise subject of previous progress payments by Landlord of and Tenant, (2) a written certification from Tenant's architect that the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment requisition is being sought made has in fact been completed in accordance with the Final Plans plans and Specifications.
H. It is understood specifications approved by Landlord, and agreed that neither (3) such other documents and information as Landlord nor its designated agent may reasonably request. Landlord shall disburse the Retainage upon submission by Tenant to Landlord of a requisition therefor, accompanied by all documentation required under clauses (1), (2) and (3) above, together with (A) proof of the satisfactory completion of all required inspections and issuance of any required approvals, permits and sign-offs for the Initial Installations by all Governmental Authorities having jurisdiction thereover, (B) final "as-built" plans and specifications for the Initial Installations, and (C) the issuance of final lien waivers by all contractors, subcontractors and material suppliers covering all of the Initial Installations. Notwithstanding anything to the contrary set forth in this Section 4.2, if Tenant fails to pay when due any sums due and payable to any of Tenant's contractors, subcontractors or material suppliers, Landlord shall have any responsibility the right, but not the obligation, to pay to such contractor, subcontractor or supplier all sums so due from Tenant, and sums so paid by Landlord shall be deemed additional rent and shall be paid by Tenant within 10 Business Days after Landlord delivers to Tenant an invoice therefor. The right to receive Landlord's Contribution is for construction meansthe exclusive benefit of Tenant, methods and in no event shall such right be assigned to or techniques or safety precautions in connection with the Tenant Improvements, be enforceable by or for the accuracy or completeness benefit of the Plans and Specificationsany third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsother Person.
Appears in 1 contract
Samples: Lease (Sports Club Co Inc)
Landlord’s Contribution. A. (a) Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) pay to be improved (“Tenant an amount not to exceed Landlord’s Contribution”), Allowance toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Initial Installations and the Initial Installations in the One Xxxxxx Street Space (as that term is defined in Section 4.4 below) (provided that any requisition shall clearly designate which portions, if any, of Landlord’s Allowance that are being applied to Initial Installations in the One Xxxxxx Street Space), provided that as of the date on which Landlord is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists; provided that if an Event of Default exists, Landlord shall be required to make such payments after Tenant Improvements has cured such Event of Default. Tenant shall pay all costs of the Initial Installations in excess of the Landlord’s Contribution (“Allowance. Landlord’s Allowance shall be payable with respect to all matters associated with the construction of the Initial Installations and Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs occupancy of the Tenant Improvements shall includePremises, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering feesclosing costs, project management fees, moving expenses, architectural and engineering costs, wiring and cabling work, special electrical power equipment, telephone and security systems, signage, and any furniture, fixtures or equipment installed in the termination penalty at AmeriQuest’s current facilityPremises. Any In addition, Landlord shall provide a space planning allowance (the “Space Planning Allowance”) of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant up to the Final Plans and Specifications on the basis of a construction contract or contracts executed by $1,982.60 to reimburse Tenant for the architectural and engineering fees incurred by Tenant Improvementsin preparing initial space plans for the Premises. The Space Planning Allowance shall be paid by Landlord to Tenant within thirty (30) days after Tenant’s delivery to Landlord of Tenant’s invoice therefor accompanied by copies of third party invoices evidencing the amount of the reimbursed costs. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in this Section 4.2, or upon the occurrence of the date which is thirty-six (36) months after the Commencement Date, whichever first occurs, any amount of Landlord’s Allowance and/or the Space Plan Allowance which has not been previously disbursed shall be retained by Landlord and Tenant shall have no further right or claim thereto. The Landlord’s Allowance is sometimes referred to herein as the “Landlord’s Contribution.”
(b) Landlord shall make progress payments on account of Landlord’s Contribution to Tenant on account a monthly basis, for the work performed during the previous month. Each of Landlord’s progress payments shall be limited to an amount equal to the cost amounts due (as certified by a duly authorized officer of Tenant Improvements and by Tenant’s independent architect) to Tenant’s contractors, subcontractors and material suppliers which have not been subject to previous disbursements from Landlord’s Contribution multiplied by a fraction, the numerator of which is the amount of Landlord’s Contribution, and the denominator of which is the total contract price (or, if there is no specified or fixed contract price for the Initial Installations, then based upon compliance with Tenant’s budget as to the requirements of this Rider, but not more often than monthly.
F. The estimated cost of the Initial Installations, which budget Tenant Improvements shall share with Landlord) for the performance of all of the Initial Installations shown on all plans and specifications approved by Landlord, provided that in no event shall such fraction be paid greater than one. Notwithstanding the foregoing, for and disbursed as required by the title insurance company insuring the Building in order with respect to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, each progress payment that reimburses Tenant solely for so-called “soft costs” incurred in connection with the Tenant Improvementsdesign of the Initial Installations shall be in an amount equal to one hundred percent (100%) of the amount of the requisition for such soft costs. Tenant Such progress payments shall providebe made within thirty (30) days following the delivery to Landlord of requisitions therefor. Each requisition shall be executed by a duly authorized officer of Tenant, for and shall be accompanied by (i) with the exception of the first requisition, copies of partial waivers of lien from all contractors, subcontractors, and material suppliers covering all work and materials which were the subject of previous progress payments by Landlord and Tenant, (ii) a certification from Tenant’s architect that the work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial the requisition is being made has been performed substantially in accordance with the plans and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested specifications approved by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or and (iii) such other documents and information as Landlord may reasonably request. Landlord shall disburse the final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion requisition of Landlord’s Contribution toward upon submission by Tenant to Landlord of Tenant’s requisition therefor accompanied by all documentation required under the cost foregoing provisions of this Section 4.2(b), together with (A) proof of the Tenant Improvementssatisfactory completion of all required inspections and issuance of any required approvals, Landlord shall receive reasonable assurances permits and sign-offs for the Initial Installations by Governmental Authorities having jurisdiction thereover (including issuance of a permanent certificate of occupancy for the Premises), (B) final “as-built” plans and specifications for the Initial Installations as well as record drawings from the title insurer as provided Tenant’s architect and engineer in paragraph 4.F.AutoCAD format, and certifications from (C) issuance of final, unconditional lien waivers by all contractors, subcontractors and material suppliers covering all of the General Contractor and XxxxxxInitial Installations. The right to receive Landlord’s Architect, Contribution is for the exclusive benefit of Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has and in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent no event shall have any responsibility for construction means, methods such right be assigned to or techniques or safety precautions in connection with the Tenant Improvements, be enforceable by or for the accuracy benefit of any third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or completeness other person or entity. Notwithstanding the foregoing, if Tenant submits a valid and proper requisition for payment of the Plans Landlord’s Contribution, and Specificationsall of the conditions thereto as set forth above have been timely, or any design error thereinfully and completely satisfied in full, or and Landlord shall fail timely to pay the amount requested and such failure shall continue for sixty (60) days after Tenant provides a written notice to Landlord which expressly and specifically identifies such failure to comply with any laws or codes or any costs attributable pay the amount requested and specifically references this Section 4.2, then Tenant shall have the right to any lack set-off such unpaid amount, plus interest accruing at the Interest Rate from the date that such amounts were due from Landlord until paid, against the next monthly installments of adequacy of or any design error in the Plans and SpecificationsFixed Rent payable under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Pegasystems Inc)
Landlord’s Contribution. A. Provided that there is no uncured Event of Default by Tenant under the terms and conditions of the Lease, Landlord shall provide pay Tenant as Landlord’s contribution for the Premises in its “as-is” condition. Landlord shall contribute costs of construction of the Tenant’s Work, a sum equal to the lesser of: (i) the actual cost of $297,280.00, which is Thirty Two the Tenant’s Work; or (ii) SEVEN HUNDRED FIFTY THOUSAND AND NO/100 ($32.00750,000.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved DOLLARS (“Landlord’s Contribution”). Notwithstanding the foregoing, toward the hard Landlord and soft costs Tenant acknowledge and agree that a minimum of FOUR HUNDRED THOUSAND AND NO/100 ($400,000.00) of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxxused solely for Tenant’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided Work related to evidence performance repairs or replacements of the work and waiver parking lot at the Premises, the roof of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to Building, the Building HVAC system, or other Building systems. The cost of the Tenant Improvements all Tenant’s Work (including, but not limited to, all labor, material, permits and to pay architectural fees, permit fees and engineering fees) in excess of the Landlord’s Contribution shall be the responsibility of Tenant. The Landlord’s Contribution shall be paid in installments (“no more than once per month) by the Landlord to the Tenant as the Tenant’s Contribution”).
D. For purposes Work progresses, within ten (10) business days of this RiderTenant’s presentation of reasonable documentation evidencing, hard costs shall not include any architecturalamong other things, engineering or other consulting fees(i) the amounts due, in relation to the Tenant’s Work, and if such information is applicable, the cost amounts due to the general contractor and any subcontractors and materialmen, including, but not limited to, general contractor’s statement and partial and final lien waivers, as the case may be, covering all Tenant’s Work for which the Tenant is requesting payment; (ii) a sworn statement from Tenant setting forth in detail all contractors and material suppliers with whom Tenant has contracted for the portion of procurement and/or installation Tenant’s Work for which Landlord’s Contribution is being requested, and the addresses, work or materials to be furnished, amounts of furniturecontracts, furniture and/or demountable partitionsamounts paid to date, indirect lighting mounted amounts of current payments and balances due; (iii) if applicable, a certification from the architect who prepared the Tenant’s Plans certifying that the portion of the Tenant’s Work for which Tenant is requesting payment is fully complete in accordance with the Tenant’s Plans and all applicable laws and ordinances. Tenant shall be responsible for obtaining and submitting to furniture and/or demountable partitions or significant areas Landlord such documentation reasonably required by the Landlord in relation to draw requests for any portion of raised computer flooring including all infrastructure associated with such installations.
E. For purposes the Landlord’s Contribution made by Tenant. Subject to the provisions of this Riderthe immediately following paragraph, the soft Landlord’s Contribution may only be applied toward costs and expenses incurred by Tenant in connection with Tenant’s Work and may not, under any circumstances, be applied toward Rent payable by Tenant under the Lease. Notwithstanding anything herein to the contrary, if, at any time during the Extended Term, Landlord is required to fund a portion of the Landlord Contribution, pursuant to the terms hereof and, provided that: (a) Tenant Improvements shall includehas delivered, or caused to be delivered to Landlord, all of those documents which are the responsibility of Tenant to deliver pursuant to the terms hereof; (b) there exists no uncured Event of Default by Tenant under the terms and conditions of the Lease; and (c) Landlord has failed to pay such sum to Tenant (or to Escrowee, as set forth below) within thirty (30) days after Tenant has delivered to Landlord written request therefor (accompanied by all required documentation), Tenant may, in such instance, and upon written notice to Landlord, offset the amount of any such payment against the Base Rent thereafter due and payable by Tenant to Landlord under this Lease, as amended hereby. At Landlord’s sole option, the disbursement of the all or any portion of the Landlord’s Contribution may be made through a construction escrow (“Construction Escrow”) established with Chicago Title Insurance Company (“Escrowee”). The parties shall execute a standard form of construction escrow agreement utilized by the Escrowee with such revisions thereto as may be necessary to pay for; (a) fees conform to the provisions hereof. Landlord may fund the Landlord’s Contribution into the Construction Escrow periodically by the transfer of funds upon approval of documents submitted in connection with each draw request made by Tenant and expenses upon the Escrowee’s determination, with respect to any disbursements to be made through the Construction Escrow, that it is prepared to advise Landlord that all statements and lien waivers are in proper form for the purpose of releasing and waiving any and all rights to file mechanics lien claims against the Premises or any portion thereof and that there are no liens of public record filed in connection with Tenant’s Work or otherwise as a result of Tenant’s Architect and action or inaction through the Consulting Engineers, anddate of disbursement of funds. Notwithstanding the foregoing, if required by at any time during the complexity course of plans, drawings and specifications for completion of Tenant’s Work the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the total unpaid cost of permits; (c) costs completing Tenant’s Work as indicated by any of construction escrow with a title companythe sworn statements provided to Escrowee hereunder exceeds the balance of the Landlord’s Contribution, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) Landlord need not make further disbursements of Landlord’s Contribution which until Tenant has deposited in the Tenant does not use for Construction Escrow the Tenant Improvements may be utilized to offset sum necessary, along with the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any balance of the unused tenant improvement allowance shall be used as additional rent abatement against Landlord’s Contribution, to make all available funds equal to the first rent dollars owing under the lease. Tenant shall advise Landlord of the unpaid cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlyhas paid such excess costs directly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Landlord’s Contribution. A. (a) Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) agrees to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly advance up to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Initial Installations, provided as of the date of such funding (i) this Lease is in full force and effect, (ii) no Event of Default then exists, (iii) Citicorp Real Estate, Inc. has approved this Lease and executed and delivered a SNDA or Tenant Improvementshas waived its right to receive such SNDA as contemplated by Article 10, and (iv) any excess cost of the Initial Installations shall be paid by Tenant. Landlord's Contribution shall be payable on account of labor directly related to the Initial Installations and materials delivered to the Premises or off-site and to be delivered to the Premises in connection with the Initial Installations. Landlord's Contribution may also be used to pay "soft costs" incurred in connection with the Initial Installations (consisting of architectural, consulting, engineering, planning, permit and legal fees, and furniture and equipment (exclusive of computer equipment other than cables installed in connection therewith) acquired for use in the Premises), including deposits and downpayments, in an amount which shall not exceed 15 percent of Landlord's Contribution, including computer cabling, which costs of computer cabling shall not exceed 4 percent of Landlord's Contribution. Upon the completion of the Initial Alterations and satisfaction of the conditions set forth in Section 4.2, or upon the occurrence of the date which is eighteen months after the date Landlord delivers to Tenant vacant possession of the 21st floor of the Building (which date shall be extended by reason of strikes, labor trouble or any other similar cause beyond Tenant's control in performing the Initial Alterations), whichever first occurs, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord; provided, however, that notwithstanding anything contained herein to the contrary, (A) such retained amounts shall continue to be held for the benefit of Tenant by Landlord if Tenant delivers a notice to Landlord prior to satisfaction of the conditions set forth in Section 4.2 that it is in dispute with any contractors, subcontractors, vendors or other providers of service and refuses to make payments at such time or if any contracts provide for retainage which has not then been finally paid, and (B) an amount of Landlord's Contribution not in excess of $525,445 which has not then been previously disbursed shall be applied against the Rent next coming due rather than retained by Landlord. If Tenant shall have satisfied all of the conditions to a disbursement of Landlord's Contribution contained in Section 4.2(b) and Landlord shall receive reasonable assurances fail to make the full amount or any part of such disbursement for a period of seven Business Days after receipt of notice from Tenant that such unpaid amounts are overdue, Tenant may offset the unpaid amount from any amount payable by Tenant hereunder, including, without limitation, from the title insurer as provided in paragraph 4.F.next succeeding monthly installment or installments of Rent due and payable hereunder.
(b) Landlord shall make progress payments to Tenant on a monthly basis, for the work performed to date and/or for materials delivered to the Premises during the previous month. Each of such progress payments shall be made within 20 days next following the delivery to Landlord of requisitions therefor, signed by a financial officer of Tenant, which requisitions shall set forth the names of each contractor and subcontractor to whom payment is due, and certifications the amount thereof, and shall be accompanied by (i) with the exception of the first requisition, copies of partial waivers of lien from all contractors, subcontractors and materialman covering all work and materials which were the General Contractor subject of previous progress payments by Landlord and Xxxxxx’s Architect, Tenant, any inspecting architect, (ii) a written certification from Tenant's architect that the portion of the Tenant Improvements work for which payment the requisition is being sought made has in fact been completed substantially in accordance with the Final Plans plans and Specifications.
H. It is understood specifications approved by Landlord, (iii) to the extent appropriate, proof of the satisfactory completion of all required inspections and agreed that neither issuance of any required approvals and sign-offs by public authorities, and issuance of final lien waivers, with respect thereto, and (iv) such other documents and information as Landlord nor its designated agent may reasonably request. If Tenant does not pay any contractor as required by this provision, Landlord shall have the right, but not the obligation, to promptly pay to such contractor all sums so due from Tenant, and Tenant agrees the same shall be deemed Additional Rent and Landlord shall have all remedies available under this Lease, at law or in equity for collection from Tenant of all sums so paid by Landlord, provided, however, that Landlord shall in no event pay any responsibility for construction means, methods contractor or techniques or safety precautions subcontractor whose right to payment Tenant is disputing in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsgood faith.
Appears in 1 contract
Samples: Lease (Kasper a S L LTD)
Landlord’s Contribution. A. Landlord shall provide After the Premises in its “as-is” condition. Commencement Date, Landlord shall contribute the sum of up to $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved 117,648.00 (“Landlord’s Contribution”), toward ) towards the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as initial work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of in the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution Premises (“Tenant’s ContributionInitial Work”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal Initial Work to be performed by Tenant which could have a material effect on the Building in accordance with applicable Lease terms (including, including without limitation, its structure or systemslimitation Article 7), the fees and expenses of other consultants and professionals engaged . Landlord shall reimburse Tenant for Tenant’s Initial Work performed by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect Tenant up to the Tenant Improvements. Fifty percent (50%) amount of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costsContribution, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance in accordance with the requirements of this Riderterms hereof, but not more often than monthly.
F. The cost of provided that Tenant supplies Landlord with an appropriate requisition (the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request “Requisition”) satisfactory to Landlord, which must shall include at a minimum bills, receipts, lien waivers and releases in form reasonably satisfactory to Landlord from contractors, subcontractors, vendors and materialmen; and Tenant’s certification of completion of Tenant’s Initial Work. If Tenant Sworn Statementis not in default under this Lease beyond any applicable grace and cure period and provided that all documents and information required by Landlord have been provided, when requesting partial or final funding within thirty (30) days after Landlord receives a complete Requisition upon the completion of Tenant’s Initial Work, Landlord contribution.
G. As a condition shall pay Tenant up to the payment by Landlord amount of any Landlord’s Contribution. Tenant shall endeavor to complete Tenant’s Initial Work within six (6) months of the Commencement Date. Any remaining portion of Landlord’s Contribution toward the cost not disbursed to Tenant after submission of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed a final Requisition in accordance with the Final Plans express provisions hereof shall be and Specifications.
H. It is understood forever remain the property of Landlord. In the event of any conflict or inconsistency between these rules and agreed that neither Landlord nor its designated agent shall have any responsibility for construction meansregulations and the attached Lease, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness provisions of the Plans Lease shall govern. All such rules shall be consistently and Specifications, or any design error therein, or failure to comply uniformly enforced with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsall tenants.
Appears in 1 contract
Samples: Lease Agreement (Audiocodes LTD)
Landlord’s Contribution. A. 49.01 Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at its sole cost and expense, and submit to Landlord shall provide for its approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications (“Tenant’s Plans”) in a form ready for use as construction drawings for the installation of alterations, installations, decorations and improvements in the Premises to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Initial Alteration Work”). All such construction plans and specifications and all such work shall be effected in its “as-is” conditionaccordance with all applicable provisions of the Lease at Tenant’s sole cost and expense. If and so long as Tenant is not in default under the Lease, subject to and in accordance with the provisions of this Article, Landlord shall contribute up to the sum of (i) $297,280.00, 332,200.00 to be applied to the cost of labor and materials for the portion of Tenant’s Initial Alteration Work which is Thirty Two ($32.00) Dollars per square foot of rentable area constitutes Qualified Renovations made in and to the portion of the Premises designated as Space A (9,290 rsfthe “Space A Contribution”), and (ii) $433,175.00 to be improved applied to the cost of labor and materials for the portion of Tenant’s Initial Alteration Work which constitutes Qualified Renovations made in and to the portion of the Premises designated as Space B (the “Space B Contribution” and Space A Contribution collectively referred to as, “Landlord’s Contribution”). Notwithstanding anything to the contrary contained in this Article, toward from and after the hard and soft costs Space B Commencement Date, all or any portion of the Space A Contribution may be applied towards Qualified Renovations made in and to the portion of the Premises designated as Space B, subject to, and to be disbursed in accordance with, the applicable provisions of this Article. “Qualified Renovations” shall be defined as the labor and materials used by Tenant Improvementsto construct permanent leasehold improvements and alterations to the Premises in compliance with this Lease after the date hereof and prior to twelve (12) months following the Space B Commencement Date. Without limitation, which amountfor purposes of this Article, at the option of Tenant, maybe disbursed directly Qualified Renovations shall be deemed not to Tenant, Xxxxxx’s contractors, or jointly to Tenant include and Tenant’s contractors. Landlord’s Contribution shall not be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal applied to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Riderinterest, hard costs shall not include any architecturallate charges, engineering or other consulting trade fixtures, furniture, furnishings, equipment, professional fees, workstations, work surfaces (whether or not affixed to walls and/or convector covers), related cabinetry, moveable business equipment or any personal property whatsoever, or to the cost of procurement and/or installation of furniturelabor, furniture and/or demountable partitionsmaterials or services used to furnish or provide the same, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Riderprovided, the soft costs of the Tenant Improvements shall includehowever, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect that notwithstanding anything to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costscontrary contained in this Article, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward up to but not exceeding the sum of $76,537.50 may be applied towards the cost of the Tenant Improvementsarchitectural, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F.planning, engineering and certifications from the General Contractor filing fees (“Soft Costs”), subject to and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed to be disbursed in accordance with the Final Plans and Specificationsapplicable provisions of this Article.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Nymagic Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess design, construction and installation of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building Initial Alterations (including, without limitation, its structure or systemsthe Alteration Operations Fee provided for in Section 5.6 of the Lease (as modified pursuant below in this Paragraph B) an amount not to exceed Landlord’s Contribution of $312,152.50 (which equals $27.50 per rentable square foot of the Premises); provided, however, that (i) not more than $56,755.00 (which equals $5.00 per rentable square foot of the Initial Premises) of Landlord’s Contribution may be applied to Tenant’s reasonable space planning and architectural and engineering costs for the design of the Initial Alterations, and (ii) Landlord’s Contribution may be applied to the reasonable purchase and installation costs of projection screens, mecho shades and a dishwasher in the Premises. Except as set forth in the preceding clause (ii), the fees and expenses no portion of other consultants and professionals engaged by Xxxxxxxx; (b) Landlord’s Contribution may be applied to the cost of permits; personal property, equipment, trade fixtures, moving expenses, furniture (c) costs including work stations and modular office furniture, regardless of construction escrow with a title companythe method of attachment to walls and/or floors), if any; and (d) any signage, voice, data or other costs reasonably incurred with respect cabling, or Fixed Rent, Additional Rent or other amounts payable pursuant to this Lease. Tenant acknowledges that Landlord’s Contribution is to be applied to the Initial Alterations (and the associated costs described above) covering the entire Premises. Tenant Improvements. Fifty may allocate Landlord’s Contribution between the Initial Premises and the Expansion Premises as it determines, provided that Tenant spends not less than eighty percent (5080%) of Landlord’s Contribution which towards the Tenant does not use for Initial Alterations (and soft costs associated therewith) in the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costsInitial Premises, and the termination penalty at AmeriQuest’s current facility. Any provided further that after completion of the unused tenant improvement allowance Initial Alterations in the Initial Premises and the Expansion Premises, each has been improved so as to allow it to be occupied for general offices purposes in compliance with applicable Requirements. Notwithstanding anything to the contrary in this Paragraph B, Landlord’s Contribution shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements available for disbursement pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant terms hereof only for the Tenant Improvementsfirst twelve (12) months after the Initial Premises Rent Commencement Date. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this RiderAccordingly, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of if any portion of Landlord’s Contribution toward is not requested by Tenant, with all conditions herein to the disbursement thereof satisfied by Tenant, prior to the date that is twelve (12) months from the Initial Premises Rent Commencement Date, such unused portion shall be forfeited by Tenant. Notwithstanding the foregoing, in the event that the Expansion Premises Commencement Date shall be delayed beyond February 15, 2011, the aforesaid twelve (12) month period shall be extended, day for day, by the period of such delay, but only as respects the availability of Landlord’s Contribution for the costs of the Initial Alterations, if any, in the Expansion Premises. If the cost of construction of the Initial Alterations (including the Alteration Operations Fee) exceeds the funds available therefor from Landlord’s Contribution, then Tenant Improvementsshall pay all such excess (the “Excess Cost”). Based on the estimated cost (the “Estimated Costs”) of the construction of the Initial Alterations, the prorata share of the Estimated Costs payable by Landlord and Tenant shall be determined and an appropriate percentage share established for each (a “Share of Costs”). Tenant and Landlord shall fund the cost of such work as the same is performed, in accordance with their respective Share of Costs for such work. At such time as Landlord’s Contribution has been entirely disbursed, Tenant shall pay the remaining Excess Cost, if any, which payments shall be made in installments as construction progresses in the same manner as Tenant’s payments of Tenant’s Share of Costs were paid. Landlord shall disburse the Landlord’s Contribution directly to Contractor, and/or to the applicable subcontractors, and/or to Tenant, as Landlord shall determine (except where Tenant shall have previously paid the requested amount to the applicable party, in which case Landlord’s disbursement shall be made directly to Tenant as a reimbursement of such amount upon satisfaction of the following conditions), within thirty (30) days after Landlord’s receipt of (A) invoices of Contractor furnished to Landlord by Tenant covering work actually performed, construction in place and materials delivered to the site (as may be applicable) describing in reasonable detail such work, construction and/or materials, (B) conditional lien waivers executed by Contractor, subcontractors or suppliers, as applicable, for their portion of the work covered by the requested disbursement, and (C) unconditional lien waivers executed by Contractor and the persons and entities performing the work or supplying the materials covered by Landlord’s previous disbursements for the work or materials covered by such previous disbursements (all such waivers to be in the forms prescribed by California Civil Code Section 3262). No payment will be made for materials or supplies not incorporated into the construction, regardless of whether the materials or supplies are located on the Premises. Landlord may withhold the amount of any and all retentions provided for in original contracts or subcontracts until expiration of the applicable lien periods or Landlord’s receipt of unconditional lien waivers and full releases upon final payment (in the form prescribed by California Civil Code Section 3262) from Tenant’s Contractor and all subcontractors and suppliers involved in the Initial Alterations. Notwithstanding anything to the contrary contained herein, in no event shall Landlord be obligated to disburse any portion of Landlord’s Contribution during any period that Tenant is in breach of or in default under this Lease (but the foregoing shall not relieve Landlord from its disbursement obligation hereunder after such default is cured within any applicable cure period under this Lease). At the time Landlord makes any disbursement of Landlord’s Contribution, Landlord shall receive retain from Landlord’s Contribution, as a partial payment of the Alteration Operations Fee, a proportionate amount of the Alteration Operations Fee based upon Landlord’s reasonable assurances estimation of the amount required to be withheld from each disbursement in order to ensure that the title insurer entire Alteration Operations Fee is retained over the course of construction on a prorata basis. At such time as provided in paragraph 4.F.Landlord’s Contribution has been entirely disbursed, Tenant shall, within fifteen (15) days of written demand by Landlord from time to time during the course of construction of the Initial Alterations, pay to Landlord the remainder, if any, of the Alteration Operations Fee theretofore due and not yet paid to Landlord. Upon completion of the Initial Alterations, Tenant shall furnish Landlord with invoices and other documentation reasonably required by Landlord to evidence the total cost of the Initial Alterations, so that the final amount of the Alteration Operations Fee may be calculated, and certifications from Tenant shall, within fifteen (15) days of written demand, pay to Landlord the General Contractor and Xxxxxx’s Architectremainder, Tenantif any, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness Alteration Operations Fee not yet paid to Landlord. Notwithstanding Section 5.6 of the Plans Lease, the Alteration Operations Fee with respect to the Initial Alterations shall be calculated on hard costs only, and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack a percentage factor of adequacy of or any design error one and one-half percent (1 1/2%) rather than five percent (5%) shall be used in the Plans and Specificationscalculation of the Alteration Operations Fee with respect to the Initial Alterations.
Appears in 1 contract
Samples: Lease Agreement (Inphi Corp)
Landlord’s Contribution. A. Landlord shall provide reimburse Tenant for the Premises in its “as-is” condition. Landlord shall contribute costs incurred by Tenant with respect to the sum design of $297,280.00the Approved Plans and the performance of Tenant’s Work, including, without limitation, the construction management fee of Landlord’s agent, which is Thirty Two shall not exceed three percent ($32.003%) Dollars per square foot of rentable area of the Premises total costs of Tenant’s construction contract (9,290 rsfthe “Cost of Tenant’s Work”) up to be improved (“the amount of Landlord’s Contribution”), toward provided that a requisition is submitted by Tenant in accordance with the hard and soft costs provisions of the Tenant Improvementsthis Section 3 on or before September 30, which amount, at the option 2012. The Costs of Tenant’s Work shall not include costs arising from an Event of Default or from any facts or circumstances that could become an Event of Default, maybe disbursed directly to Tenant, Xxxxxxsuch as legal fees or bonding costs arising in connection with a mechanic’s contractors, lien placed on the Premises or jointly to Tenant and Tenant’s contractorsinterest therein. Tenant shall be entirely responsible for any excess. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. by Landlord to Tenant (or, at Landlord’s election, directly to Tenant’s contractor) upon Xxxxxxwritten requisition to Landlord in monthly installments, as provided below, according to reasonable construction disbursement procedures and as Tenant’s request as work progresses provided that Landlord is provided contractors’ affidavitsWork progresses. In any case, waivers of lien, and other documentation customarily provided prior to evidence performance of the work and waiver of claims for lien for work performed to the date payment of any such payment.
C. installment Tenant shall contribute an amount equal deliver to the cost of the Tenant Improvements in excess of the Landlord’s Contribution Landlord a written request, which request shall be given no more frequently than once every thirty (“30) days, for such disbursement, which shall be accompanied by: (i) invoices for Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with Work covered such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay forrequisition; (aii) fees and expenses copies of partial lien waivers or final lien waivers (in the case of a final installment); (iii) a certificate signed by the Tenant’s Architect and the Consulting Engineers, and, if required architect certifying that Tenant’s Work represented by the complexity of plans, drawings and specifications for aforementioned invoices has been completed substantially in accordance with the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by XxxxxxxxApproved Plans; (biv) a certificate of substantial completion and as-built plans for Tenant’s Work (in the cost case of permits; (c) costs of construction escrow with a title company, if anyfinal installment); and (dv) any all other costs information and materials reasonably incurred with respect to requested by Landlord. Landlord shall pay each required installment within thirty (30) days of receiving the Tenant Improvementsmaterials enumerated in the previous sentence. Fifty percent (50%) Each installment by Landlord will be in the amount of Landlord’s pro-rata share based on the ratio of Landlord’s Contribution which to the Tenant does not use for total Cost of Tenant’s Work (as evidenced by reasonably detailed documentation delivered to Landlord with the Tenant Improvements may be utilized requisition first submitted by Tenant), less a retainage equal to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any greater of the unused tenant improvement allowance shall be used as additional rent abatement against retainage set forth in the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for ten percent (10%) of amount due under the Tenant Improvementsconstruction contract, but in no event shall Landlord be required to pay more than Landlord’s Contribution. ) Landlord shall make payments of Landlord’s Contribution on account of not be obligated to disburse funds for materials stored off-site. Notwithstanding anything to the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights theretocontrary contained herein, in connection with the Tenant Improvements. Tenant no event shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and Landlord be obligated to fund any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written disbursement request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specificationsthis Section 3 below submitted to Landlord after September 30, 2012.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Howard Bancorp Inc)
Landlord’s Contribution. A. (a) Landlord shall provide shall, in the Premises in its “asmanner hereinafter set forth, contribute up to One Million Nine Hundred Ninety-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two Five Thousand Five Hundred Fifty and 00/100 Dollars ($32.001,995,550.00) Dollars (i.e., $50.00 per rentable square foot of rentable area of the Premises (9,290 rsfPremises, plus $75,000.00) to be improved (“Landlord’s Contribution”), toward ) towards the hard and soft costs of the Tenant Improvementscosts, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems)project management fees, of the fees initial leasehold improvements to be installed by Tenant in the Premises and expenses of other consultants and professionals engaged the cosmetic alterations to be made by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect Tenant to the core restrooms on the third (3rd) floor of the Building (collectively, “Tenant’s Work”). Tenant Improvements. Fifty percent shall have the right to apply up to One Hundred Ninety-Two Thousand Fifty-Five and 00/100 Dollars (50%$192,055.00) (i.e., $5.00 per rentable square foot of the Premises) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset towards the cost associated with construction costs, the purchase of telecommunications and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuestdata cabling. Tenant’s current facility. Any of the unused tenant improvement allowance Work shall be used performed in accordance with Articles 12 and 13 hereof.
(b) Provided that Tenant is not in default of its monetary or material non-monetary obligations under this Lease at the time that Tenant submits any Requisition (as additional rent abatement against the first rent dollars owing under the lease. Tenant hereinafter defined) on account of Landlord’s Contribution, Landlord shall advise Landlord pay Landlord’s Share, as hereinafter defined, of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications work shown on the basis of a construction contract or contracts executed each Requisition submitted by Tenant for to Landlord within thirty (30) days of Landlord’s receipt thereof. “Landlord’s Share” shall be defined as of the Tenant Improvements. Landlord commencement of Tenant’s Work and shall make payments be a fraction, the numerator of which is the maximum amount of Landlord’s Contribution on account and the denominator of which is the total cost of designing and performing the Tenant Work based upon Xxxxxx’s contracts with its architect and general contractor. If Tenant is prevented from receiving payment of a Requisition based upon Xxxxxx’s default, Tenant shall have the right, so long as the Lease is in full force and effect, and Tenant is in full compliance with its obligations under the Lease, to resubmit such Requisition after Tenant cures such default. Upon request by Xxxxxx, Landlord shall notify Tenant in writing of the cost remaining amount of Landlord’s Contribution due and payable to Tenant Improvements at the time of such request. In addition, upon compliance with request by Xxxxxx, Landlord shall notify Tenant in writing when Xxxxxxxx’s Contribution has been paid in full. For the requirements purposes hereof, a “Requisition” shall mean written documentation showing in reasonable detail the costs of this Riderthe improvements then installed by Tenant in the Premises. Each Requisition shall be accompanied by evidence reasonably satisfactory to Landlord that all work covered by previous Requisitions has been fully paid by Xxxxxx. Landlord shall have the right, but not upon reasonable advance notice to Tenant, to inspect Tenant’s books and records relating to each Requisition in order to verify the amount thereof. Tenant shall submit Requisition(s) no more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide the Premises in its “asagrees to contribute up to Twenty-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two four and 00/100 Dollars ($32.0024.00) Dollars per square foot of rentable area Additional Space towards the actual amount expended by Tenant to construct and improve the Additional Space in accordance with plans approved by Landlord. Notwithstanding the foregoing, (i) Tenant may allocate up to $9.00 per square foot of the Premises foregoing contribution for the Additional Space, towards Tenant’s improvements to the original Premises, and (9,290 rsfii) if, upon completion of Tenant’s improvements to be improved the Additional Space in accordance with approved plans, a portion of Landlord’s Contribution to improve the Additional space has not been expended by Tenant, Tenant may allocate the unexpended portion to the improvements to the original Premises. Such costs will include all architectural or engineering design costs, the costs of obtaining permits and approvals for the work, plan review and similar charges, and, in the event Landlord, as General Contractor, supervises the construction of Tenant’s improvements to the Additional Space, a construction supervision fee of not more than eight percent (“8%) of Landlord’s Contribution”). Landlord’s Contribution will be payable to Tenant within thirty (30) days from the date Tenant substantially completes the work in accordance with plans reasonably approved by Landlord as provided in the Lease, toward commences business operations in the hard Additional Space and soft costs the original Premises and delivers to Landlord each of the Tenant Improvementsfollowing:
(a) executed and notarized final lien releases in the form substantially as shown on Exhibit C, which amountattached hereto and made a part hereof, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s from all contractors, or jointly to Tenant subcontractors and materialmen performing work on the Additional Space;
(b) Tenant’s contractorsexecuted commencement and estoppel certificate for the Premises as increased herein; and
(c) final, unconditional approval for occupancy from the applicable governmental jurisdiction for the Additional Space. Tenant shall provide Landlord with a Certificate of Occupancy for the Premises upon receipt of same from the applicable governmental jurisdiction. All costs exceeding Landlord’s Contribution shall be payable within 60 days after presentation paid for by Tenant. In the event of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of a default by Tenant or its contractor in performing the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements set forth herein in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated accordance with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of approved plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from have the title insurer as provided in paragraph 4.F.right, at its sole option and certifications from the General Contractor and Xxxxxxat Tenant’s Architectexpense, with five (5) days written notice to Tenant, to perform any inspecting architectwork as required due to errors or omissions, that the portion working drawings, field conditions, or requirement of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with City of Gaithersburg, Mxxxxxxxxx County or the Final Plans State of Maryland to obtain building and Specificationsoccupancy permits.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease (Seracare Life Sciences Inc)
Landlord’s Contribution. A. (A) As an inducement for Tenant to enter into this Lease, Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) agrees to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly pay to Tenant and Tenant’s contractorsan allowance (the "Landlord's Contribution") in an amount not to exceed /***/ (calculated by /***/). The Landlord’s 's Contribution shall be payable within 60 days after presentation applied towards the payment of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavitscosts incurred in connection with (i) the alterations, waivers of lien, additions and other documentation customarily provided to evidence performance of improvements furnished or installed in the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal Premises by Tenant which could have a material effect on the Building (in accordance with Article 35 hereof, including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and datadesign, architectural and engineering feesdrawings and (ii) such other expenses, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of including the cost of the Tenant Improvements pursuant furnishings, fixtures and equipment as are related to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant ImprovementsLease. Landlord shall make payments of The Landlord’s 's Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, applicable only in connection with the Tenant Improvementsinitial preparation for occupancy of the Premises. Tenant shall provide, for To the extent that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of the Landlord’s 's Contribution toward is used for the purchase of furnishings, fixtures or equipment, Tenant agrees that Landlord shall have a security interest in such furnishings, fixtures or equipment, and Tenant agrees to execute, upon Landlord's request, security agreements, UCC financing statements or other documents evidencing Landlord's security interest in such items.
(B) It shall be a condition of Landlord's obligation to pay any installment of the Landlord's Contribution for work performed by any contractor or supplier, other than those engaged by Landlord, that Tenant shall provide or cause to be provided to Landlord (to the extent customarily required by title insurance companies) contractor's affidavits and waivers of lien covering all labor and material used and expended for which contractors are requesting payment, and (if applicable) invoices establishing the actual cost of items purchased and labor provided, all _____________________ *** Confidential Information has been omitted and filed separately with the Securities and Exchange Commission. in form and content reasonably satisfactory to Landlord. it shall be a further condition to Landlord's obligation to pay or credit any amount of Landlord's Contribution at any time that Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided is not then in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, monetary default or in default under any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans other material terms, covenants and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent conditions of this Lease. Landlord's Contribution shall have any responsibility for construction meansbe advanced, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness upon satisfaction of the Plans and Specificationsforegoing conditions, or any design error thereinas costs are incurred, or failure subject to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationscustomary retainage.
Appears in 1 contract
Landlord’s Contribution. A. Subject to the provisions of Article 5 of this Lease, and except for the work to be performed by Landlord shall provide pursuant to Section 2.02, Tenant agrees to perform the initial work and installations required to make the Demised Premises in its “as-is” conditionsuitable for the conduct of Tenant's business. Tenant agrees to deliver to Landlord, for Landlord's approval the plans and specifications for Tenant's initial work no later than thirty (30) days following the Commencement Date. In addition to the work to be performed by Landlord shall pursuant to Section 2.02 of this Lease, Landlord agrees to contribute up to the sum of $297,280.003,640,000 (Landlord's Contribution") toward the cost of such work, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the shall include hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly costs. Landlord shall pay to Tenant, Xxxxxx’s contractorsfrom time to time, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided but not more often that Landlord is provided contractors’ affidavitsonce a month, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution ninety (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (5090%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord percent of the cost of the Tenant Improvements pursuant work (such cost shall include any hold-back to the Final Plans contractor) requested by Tenant theretofore performed by the contractor, provided Tenant delivers to Landlord concurrently with its request, receipted bills (including any contractor's hold-back) of the contractor involved approved by Tenant, a certificate by Tenant's architect that such bills have been approved and Specifications the work or materials evidenced by such bills have been satisfactorily performed or delivered and a waiver of mechanic's lien signed by the contractor with respect to the amount paid, if any, to such contractor for the immediately preceding month, or prior payment, as evidenced by the receipted xxxx, such payment to be made by Landlord to Tenant within ten (10) days after receipt of Tenant's request together with the aforesaid documentation. Within ten (10) days after Landlord receives a certificate from Tenant's architect stating that Tenant's work has been substantially completed, that the same has been performed in compliance with all applicable Governmental Requirements and the approved plans and specifications and delivery to Landlord of the final "sign-off" letters and equipment use permits (as necessary) for all work performed from the applicable municipal authorities, Landlord shall pay to Tenant the aggregate of the ten (10%) percent sums retained by Landlord. Landlord shall have no obligation or responsibility to pay any cost exceeding the amount of Landlord's Contribution. If the amount Tenant expends for the cost exceeds the amount of Landlord's Contribution, Tenant shall be responsible for the payment to the contractors of the excess. If said amount is less than the amount of Landlord's Contribution, Landlord shall not be obligated to pay such difference to Tenant. Tenant shall indemnify and hold Landlord harmless from and against any and all claims, costs and expenses in connection with such work exceeding the amount of Landlord's Contribution. Notwithstanding the foregoing provisions of this Article 37, if this Lease shall be terminated by reason of tenant's default hereunder, in addition to the damages set forth in Section 16.06, Landlord shall be entitled to recover from Tenant the unamortized amount of Landlord's Contribution, determined on the basis of a construction contract or contracts executed by Tenant for that the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements then remaining term of this Rider, but Lease (as if this Lease had not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition terminated) bears to the payment by Landlord initial term of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specificationsthis Lease.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (TMP Worldwide Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. On April 1, 2015, Landlord shall contribute the sum of an amount not to exceed $297,280.00, which is Thirty Two ($32.00) Dollars 10.00 per rentable square foot of rentable area of in the Premises – i.e. $568,880.00 (9,290 rsf) to be improved (the “Landlord’s Contribution”), ) to be applied toward the hard and soft costs of incurred by Tenant for the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant Plans and Tenant’s contractorsChange Orders. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to If the cost of the Improvements, Plans and Change Orders exceeds the Landlord’s Contribution, Tenant Improvements in shall pay all of such excess costs. Upon written request of Tenant (not more frequently than twice each month), Landlord shall pay all or any portion of the Landlord’s Contribution (“to Tenant’s Contribution”).
D. For purposes , within 30 days after receipt of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineersinvoices, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) evidence satisfactory to Landlord that the cost of permits; work covered by such invoices has been completed in a satisfactory manner, (c) costs of construction escrow with a title companyall necessary lien waivers and sworn affidavits, if any; and (d) any marked reproducible copies of the originally approved Plans showing all substantial changes made in constructing the Improvements during such period from the Plans as originally approved, and (e) such other costs documentation as Landlord may reasonably incurred with respect require under the circumstances. Tenant shall deliver reproducible as-built Plans to Landlord at the Tenant conclusion of Improvements. Fifty percent (50%) Up to $3.00 of Landlordthe $10.00 per rentable square foot Construction Allowance may, at Tenant’s Contribution which the Tenant does not use for the Tenant Improvements may option, be utilized used as an offset to Rent coming due prior to December 31, 2015, used to offset the cost associated with construction costs, the purchase and installation costs of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, space evaluation in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions project management in connection with the Tenant Improvements, furniture, fixtures or for the accuracy equipment, or completeness wiring/cabling costs. Any unspent portion of the Plans and SpecificationsConstruction Allowance existing after December 31, 2015, may be retained by Landlord without credit or any design error therein, or failure reimbursement to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and SpecificationsTenant.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide Subject to the provisions of Article 5 of this Lease, Tenant agrees to perform the initial work and installations required to make the Demised Premises in its “as-is” conditionsuitable for the conduct of Tenant's business. Tenant agrees to deliver to landlord, for Landlord's approval the plans and specifications for Tenant's initial work within thirty (30) days from the date hereof. Landlord shall agrees to contribute up to the sum of $297,280.00148,500.00 (Landlord's Contribution") toward the cost of such work, which is Thirty Two shall be only for hard costs, design and engineering costs, furniture ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”)including built-in furniture and fixtures, toward the hard equipment, and moving expenses and excluding all other soft costs of the Tenant Improvements, which amount, at the option of shall be paid for by Tenant, maybe disbursed directly . Landlord shall pay to Tenant, Xxxxxx’s contractorsfrom time to time, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided but not more often that Landlord is provided contractors’ affidavitsonce a month, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution ninety (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (5090%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord percent of the cost of the work requested by Tenant Improvements pursuant theretofore performed by the contractor, provided Tenant delivers to Landlord concurrently with its request, receipted bills of the contractor involved approved by Tenant, a certificate by Tenant's architect that such bills have been approved and the work or materials evidenced by such bills have been satisfactorily performed or delivered and a waiver of mechanic's lien signed by the contractor with respect to the Final Plans amount paid as evidenced by the receipted xxxx, such payment to be made to Tenant within ten (10) days after receipt of Tenant's request together with the aforesaid documentation. Within ten (10) days after Landlord receives a certificate from Tenant's architect stating that Tenant's work has been substantially completed, that the same has been performed in compliance with all applicable Governmental Requirements and Specifications on the basis approved plans and specifications and delivery to Landlord of a construction contract or contracts executed the final "sign-off" letters and equipment use permits (as necessary) for all work performed from the applicable municipal authorities, Landlord shall pay to Tenant the aggregate of the ten (10%) percent sums retained by Tenant for the Tenant ImprovementsLandlord. Landlord shall make payments have no obligation or responsibility to pay any cost 57 exceeding the amount of Landlord’s Contribution on account 's Contribution. If the amount Tenant expends for the cost exceeds the amount of Landlord's Contribution, Tenant shall be responsible for the payment to the contractors of the cost excess. If said amount is less than the amount of Landlord's Contribution, Landlord shall not be obligated to pay such difference to Tenant. Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid indemnify and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over hold Landlord harmless from and against any and all possible mechanics’ lien claims, or rights thereto, costs and expenses in connection with such work exceeding the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion amount of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications's Contribution.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease (Global Technologies LTD)
Landlord’s Contribution. A. In consideration of Tenant's demise of the First Amendment Premises, Landlord shall shall, in the manner hereinafter set forth, provide the Premises in its “asto Tenant up to Thirty-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two Nine Thousand Seven Hundred Forty and no/100 ($32.0039,740.00) Dollars per square foot of rentable area of the Premises (9,290 rsf"Landlord's Contribution") to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to towards the cost of leasehold improvements to be installed by Tenant in the Tenant Improvements First Amendment Premises ("Tenant's Work"). All such Tenant's Work shall be performed in excess accordance with the terms and conditions of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this RiderLease, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees Articles 12 and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to 13 thereof.
B. Provided that the Tenant Improvements. Fifty percent (50%) is not in default, beyond the expiration of any applicable grace periods, of its obligations under the Lease at the time that Tenant submits any requisition on account of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs's Contribution, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance Landlord shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of pay the cost of the Tenant Improvements pursuant to the Final Plans and Specifications work shown on the basis of a construction contract or contracts executed each requisition (as hereinafter defined) submitted by Tenant for to Landlord within thirty (30) days of submission thereof by Tenant to Landlord.
C. For the Tenant Improvementspurposes hereof, a "requisition" shall mean written documentation showing in reasonable detail the costs of the improvements installed to date in the premises, accompanied by certifications from Tenant, Tenant's architect, and Tenant's contractor that the work performed to date has been performed in accordance with Tenant's approved plans, and that the amount of the requisition in question does not exceed the amount of the work covered by such requisition. Each requisition shall be accompanied by evidence reasonably satisfactory to Landlord that all work covered by previous requisitions has been fully paid by Tenant. Landlord shall make payments of Landlord’s Contribution on account of have the cost of right, upon reasonable advance notice to Tenant, to inspect Tenant's books and records relating to each requisition in order to verify the amount thereof. Tenant Improvements upon compliance with the requirements of this Rider, but not shall submit requisition(s) no more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Amendment (Edocs Inc)
Landlord’s Contribution. A. (a) Landlord shall provide reimburse Tenant for the Premises cost of Initial Tenant Work in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the lesser of (i) the Work Allowance and (ii) the actual cost of Initial Tenant Work, upon the following terms and conditions:
(i) The Work Allowance shall be payable to Tenant Improvements (or to Tenant’s general contractor or construction manager, as directed by Tenant) in excess installments as Initial Tenant Work progresses, but in no event more frequently than monthly. Installments of the Landlord’s Contribution (“Work Allowance shall be payable by Landlord within 30 days following Tenant’s Contribution”satisfaction of each of the conditions required for disbursement set forth in this Section 3.05(a).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (aii) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition Prior to the payment by Landlord of any portion of Landlord’s Contribution toward installment, Tenant shall deliver to Landlord a request for disbursement which shall be accompanied by (1) paid or payable invoices for the cost Initial Tenant Work performed or incurred since the last disbursement of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architectWork Allowance; provided, that the portion any invoice requesting a funding of the Restroom Allowance shall identify the work being paid for with such allowance as a separate line item on such invoice and provide separate documentation supporting the requested disbursement for such work, (2) a certificate signed by Tenant’s architect and an officer of Tenant Improvements for which payment is being sought has in fact certifying that the Initial Tenant Work and services represented by the aforesaid invoices have been satisfactorily completed in accordance with the Final Plans plans and Specifications.
H. It is understood specifications therefor approved by Landlord and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with not been the Tenant Improvements, or for the accuracy or completeness subject of a prior disbursement of the Plans Work Allowance, and Specifications(3) lien waivers by architects, or any design error thereincontractors, or failure subcontractors and all materialmen for all such work and services. Landlord shall be permitted to comply with any laws or codes or any costs attributable retain from each disbursement an amount equal to any lack 10% of adequacy of or any design error in the Plans and Specifications.amount requested to be disbursed by
Appears in 1 contract
Samples: Lease (Justworks, Inc.)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Landlord agrees to pay to Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect an amount not to the Tenant Improvements. Fifty percent (50%) of exceed Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Tenant ImprovementsInitial Installations in respect of the 24th Floor Premises, provided that as of the date on which Landlord shall receive reasonable assurances from the title insurer as provided is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in paragraph 4.F.full force and effect, and certifications from (ii) no Event of Default then exists. Tenant shall pay all costs of the General Contractor Initial Installations in excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to such Initial Installations and Xxxxxx’s Architectmaterials delivered to the 24th Floor Premises in connection with such Initial Installations, Tenantexcept that Tenant may apply up to 5% of Landlord's Contribution to pay "soft costs", architectural, consulting, engineering and legal fees, and furniture and equipment (exclusive of computer equipment) acquired for use in the 24th Floor Premises, incurred in connection with such Initial Installations. Tenant shall not be entitled to receive any inspecting architect, that the portion of Landlord's Contribution not actually expended by Tenant in the Tenant Improvements for which payment is being sought has in fact been completed performance of such Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the Final Plans completion of such Initial Installations and Specificationssatisfaction of the conditions set forth in Section 4.2, or upon the occurrence of the date which is twelve months after the Commencement Date in respect of the 24th Floor Premises, whichever first occurs, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord.
H. It is understood and agreed that neither (b) Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions pay Landlord's Contribution in connection with the Tenant Improvements, or for the accuracy or completeness respect of the Plans 24th Floor Premises to Tenant following commencement of Tenant's business operations at the 24th Floor Premises and Specificationsthe final completion of the Initial Installation in respect of the 24th Floor Premises, or any design error thereinwithin 30 days after submission by Tenant to Landlord of a written requisition therefor, or failure to comply with any laws or codes or any costs attributable to any lack signed by the chief financial officer of adequacy tenant and accompanied by (i) copies of or any design error in the Plans and Specifications.paid invoices covering all of such Initial Installations, (ii) a written certification from Tenant's architect stating that (A) such Initial Installations described on such invoices have been
Appears in 1 contract
Samples: Lease Agreement (Martha Stewart Living Omnimedia Inc)
Landlord’s Contribution. A. In accordance with and subject to the terms and conditions of this Section 4.2, Landlord shall provide Tenant with a tenant improvement allowance (the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), in an amount of up to the Landlord’s Contribution Amount, provided that as of the date on which Landlord is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists which has not been cured after the giving of any required notice and expiration of any applicable period of grace. Landlord’s Contribution shall be applied toward the hard costs and soft expenses of the Initial Installations, and Tenant shall pay all costs of the Tenant Improvements, which amount, at the option Initial Installations in excess of Tenant, maybe disbursed directly to Tenant, XxxxxxLandlord’s contractors, or jointly to Tenant and Tenant’s contractorsContribution. Landlord’s Contribution shall be payable within 60 days after presentation solely on account of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, hard construction costs and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed labor directly related to the date of any such payment.
C. Tenant shall contribute an amount equal Initial Installations and materials delivered to the cost of Premises in connection with the Tenant Improvements in excess Initial Installations; provided, however, up to but not more than fifteen percent (15%) of the Landlord’s Contribution (may be applied against “Tenant’s Contribution”).
D. For purposes of this Ridersoft costs” incurred by Tenant in connection with the Initial Installations, hard costs shall not which may include any architectural, design engineering or services, networking, wiring, project management, IT and telecommunication consultants, and other consulting fees, direct moving expenses. Upon the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs completion of the Tenant Improvements shall includeInitial Installations and satisfaction of the conditions set forth in this Section 4.2, and Landlord’s Contribution may be utilized to pay for; or upon the occurrence of the date which is twelve (a12) fees and expenses of Tenant’s Architect and months after the Consulting EngineersCommencement Date, andwhichever first occurs, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) amount of Landlord’s Contribution which the Tenant does has not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement been previously disbursed or applied against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed Fixed Rent in accordance with the Final Plans provisions of Section 4.2(c) shall be retained by Landlord and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent Tenant shall have any responsibility for construction means, methods no further right or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsclaim thereto.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide reimburse Tenant for the Premises in its “as-is” condition. Landlord shall contribute costs incurred by the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area Tenant with respect to the design and performance of the Premises Initial Work (9,290 rsfthe “Cost of Initial Work”) up to be improved $1,683,160 (the “Landlord’s Contribution”), toward subject to the hard and soft costs provisions hereof. If the Cost of the Initial Work is less than the Landlord’s Contribution, the remaining balance (not to exceed $126,237) may be used by Tenant Improvementsfor moving and voice and data cabling expenses (the “Moving Allowance”), which amountsubject to the provisions hereof. To the extent that the Cost of Initial Work exceeds the Landlord’s Contribution, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractorsshall be entirely responsible for such excess. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that by Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed directly to the date general contractor in installments as the Initial Work progresses. Prior to payment of any such payment.
C. installment, Tenant shall contribute deliver to Landlord a written request, to be submitted no more frequently than once every thirty (30) days, for such disbursement, which request shall be accompanied by: (i) invoices for the Initial Work covered by any previous requisition; (ii) copies of partial lien waivers or final lien waivers (in the case of a final installment); and (iii) a certificate signed by the Architect and an amount equal to the cost officer of the Tenant Improvements in excess of certifying that the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required Initial Work represented by the complexity of plans, drawings and specifications for aforementioned invoices has been completed substantially in accordance with the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on that the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any remaining portion of Landlord’s Contribution toward is sufficient to pay in full for the cost completion of the Tenant Improvements, Landlord shall receive reasonable assurances from Initial Work. If at any time the title insurer as provided in paragraph 4.F., and certifications from amount of Landlord’s Contribution remaining is insufficient to pay for the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion remaining amount of the Initial Work, then Tenant Improvements for shall pay from its own funds all further sums necessary to enable Tenant and Tenant’s architect to again make the certification required under subsection (iii) above. Notwithstanding the foregoing, Tenant may elect to fund any sums necessary to complete the Initial Work up to $420,790.00, which payment is being sought has in fact been completed in accordance with may be financed by Landlord pursuant to a promissory note made by Tenant to the Final Plans and Specifications.
H. It is understood and agreed that neither order of Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with (the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error “Note”) in the Plans form attached hereto as Exhibit PN. Any default under the Note continuing beyond applicable notice and Specificationscure periods shall be an Event of Default under the Lease.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide the Premises in its “asagrees to contribute up to Twenty-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two four and 00/100 Dollars ($32.0024.00) Dollars per square foot of rentable area Additional Space towards the actual amount expended by Tenant to construct and improve the Additional Space in accordance with plans approved by Landlord. Notwithstanding the foregoing, (i) Tenant may allocate up to $9.00 per square foot of the Premises foregoing contribution for the Additional Space, towards Tenant’s improvements to the original Premises, and (9,290 rsfii) if, upon completion of Tenant’s improvements to be improved the Additional Space in accordance with approved plans, a portion of Landlord’s Contribution to improve the Additional Space has not been expended by Tenant, Tenant may allocate the unexpended portion to the improvements to the original Premises. Such costs will include all architectural or engineering design costs, the costs of obtaining permits and approvals for the work, plan review and similar charges, and, in the event Landlord, as General Contractor, supervises the construction of Tenant’s improvements to the Additional Space, a construction supervision fee of not more than eight percent (“8%) of Landlord’s Contribution”). Landlord’s Contribution will be payable to Tenant within thirty (30) days from the date Tenant substantially completes the work in accordance with plans reasonably approved by Landlord as provided in the Lease, toward commences business operations in the hard Additional Space and soft costs the original Premises and delivers to Landlord each of the Tenant Improvementsfollowing:
(a) executed and notarized final lien releases in the form substantially as shown on Exhibit C, which amountattached hereto and made a part hereof, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s from all contractors, or jointly to Tenant subcontractors and materialmen performing work on the Additional Space;
(b) Tenant’s contractorsexecuted commencement and estoppel certificate for the Premises as increased herein; and
(c) final, unconditional approval for occupancy from the applicable governmental jurisdiction for the Additional Space. Tenant shall provide Landlord with a Certificate of Occupancy for the Premises upon receipt of same from the applicable governmental jurisdiction. All costs exceeding Landlord’s Contribution shall be payable within 60 days after presentation paid for by Tenant. In the event of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of a default by Tenant or its contractor in performing the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements set forth herein in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated accordance with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of approved plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from have the title insurer as provided in paragraph 4.F.right, at its sole option and certifications from the General Contractor and Xxxxxxat Tenant’s Architectexpense, with five (5) days written notice to Tenant, to perform any inspecting architectwork as required due to errors or omissions, that the portion working drawings, field conditions, or requirement of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with City of Gaithersburg, Mxxxxxxxxx County or the Final Plans State of Maryland to obtain building and Specificationsoccupancy permits.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease (Seracare Life Sciences Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of 6.1 Provided that the Tenant Improvementsis not in default of its obligations under the Lease, which amount, at the option of Tenant, maybe disbursed directly Landlord hereby agrees to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to twenty six dollars and twenty cents ($26.20) (plus applicable G.S.T. and Q.S.T.) per square foot of gross rentable are of Premises (the cost “Contribution”) in order to help the Tenant set up its business and equipment, and towards the construction of the Tenant’s initial leasehold improvements in the Premises. It is understood that the Tenant Improvements in excess shall use the Contribution to execute work within the Premises, install wiring, purchase equipment, furniture, or offset relocation costs. All expenses at the sole discretion of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. 6.2 Fifty percent per cent (50%) of Landlord’s the Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required to the Tenant by the title insurance company insuring Landlord after the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with signature of the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contributionLease.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost 6.3 The balance of the Tenant Improvements, Landlord Contribution shall receive reasonable assurances from be payable only if the title insurer as provided in paragraph 4.F., following conditions have been fulfilled upon Tenant’s written demand to that effect and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion presentation of the Tenant Improvements for which payment is being sought has in fact appropriate invoices:
a) all of the Tenant’s leasehold improvements work shall have been completed in accordance conformity with the Final Plans provisions of this Lease;
b) the Tenant shall have provided the Landlord with sufficient proof showing that all invoices pertaining to the Tenant’s leasehold improvements work have been fully paid;
c) the Tenant shall have provided the Landlord with proof that no hypothec has been and Specificationswill be registered against the Premises and/or the Building after a delay of thirty-five (35) days following completion of the Tenant’s leasehold improvements work;
d) the Tenant shall not be in monetary default of any of its obligations under the Lease.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with 6.4 Any unused amounts are to be paid to the Tenant Improvements, or for who shall be entitled to use the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsremaining Contribution at its discretion.
Appears in 1 contract
Landlord’s Contribution. A. Provided no default exists under the Lease, Landlord shall provide pay as Landlord's contribution for the Premises in its “as-is” condition. Landlord shall contribute the sum costs of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area construction of the Premises Improvements
(9,290 rsfi) the amounts due to be improved (“Landlord’s Contribution”)Tenant's Contractors, toward including presentation of a contractor's statement and partial and final lien waivers, as the hard and soft costs of case may be, covering all work for which the Tenant Improvements, which amount, at is requesting payment; (ii) the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance percentage of the work completed; (iii) a sworn statement from Tenant setting forth in detail all contractors and waiver material suppliers with whom Tenant has contracted, their addresses, work or materials to be furnished, amounts of claims contracts, amounts paid to date, amounts of current payments and balances due; and (iv) a certification by the architect who prepared Tenant's Plans that the Improvements for lien which payment is requested have been completed and materials are in place as indicated by the request for payment and that all work performed which has progressed to the date of any such payment.
C. conforms to Tenant's Plans. Tenant shall contribute an be responsible for obtaining and submitting to Landlord all documentation reasonably required by the Landlord in relation to draw requests made by Tenant. Tenant's draw amounts shall never exceed, in the aggregate, the lesser of: (i) the remaining unpaid amount of Landlord's Contribution, or (ii) that amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty ninety percent (5090%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvementsthen completed. Landlord shall make payments of Landlord’s Contribution on account The ten percent (10%) of the cost of Improvements not disbursed shall be disbursed to Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of final payment for the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Landlord reserves the right to disburse any fiends pursuant to an escrow with Chicago Title Insurance Company and Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and pay all costs associated therewith. . The final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward shall not be made until the cost of architect or contractor who prepared the Tenant's Plans shall have certified to Landlord and Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed are substantially complete in accordance with the Final Plans Tenant's Plans, any applicable certificate of occupancy or other governmental license or permit has been issued, all final waivers of lien have been deposited with Landlord and Specificationsthere are no liens of public record resulting from the Improvements.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Industrial Building Lease (Nanophase Technologies Corporation)
Landlord’s Contribution. A. Landlord shall provide the Premises Except as provided otherwise in its “as-is” condition. Landlord shall contribute the sum Paragraph E herein, Tenant shall, at Tenant's expense, and as part of $297,280.00, which is Thirty Two Tenant's Changes ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”as defined in Article 42), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance perform all of the work and waiver of claims in the entire demised premises necessary for lien for work performed Tenant's occupancy thereof, subject to the date provisions of this lease. Tenant agrees with respect to its activities and work that it will conform to all of Landlord's labor regulations and shall not do or permit anything to be done that might create any work stoppage, picketing or other labor disruption or dispute. Tenant agrees that it will, prior to the commencement of any such paymentwork in the demised premises, deliver to Landlord all policies of insurance required to be supplied to Landlord by Tenant pursuant to the terms of this lease.
C. B. In consideration of Tenant performing all of the work necessary for its occupancy of the demised premises (except for Landlord's Work as provided in Paragraph D herein) and for Tenant completing such work in the entire demised premises, Landlord agrees that if Tenant, within a period of six (6) months from the commencement of the term of this lease shall contribute have submitted to Landlord (a) a detailed itemization of the building standard leasehold improvements installed by Tenant in the entire demised premises, (b) together with receipted paid bills therefor, (c) an opinion of counsel or other evidence satisfactory to Landlord to the effect that there has not been filed with respect to the building and/or the demised premises or any part thereof or upon Tenant's leasehold interest therein any vendor's, mechanic's, laborer's, materialman's or other lien which has not been discharged of record and (d) Tenant's Changes shall have been uniformly performed in the entire demised premises, Landlord shall reimburse or cause to be reimbursed to Tenant an amount equal to the lesser of (i) the actual cost of the building standard leasehold improvements performed by Tenant Improvements in the entire demised premises or (ii) TWO HUNDRED SEVENTY-TWO THOUSAND SIX HUNDRED FORTY AND 00/100 ($272,640.00) Dollars, representing "Landlord's Contribution" to such work, it being understood and agreed that Landlord's Contribution shall not exceed the sum of TWO HUNDRED SEVENTY-TWO THOUSAND SIX HUNDRED FORTY AND 00/100 ($272,640.00) DOLLARS, and that all costs and expenses in excess of the Landlord’s Contribution (“said sum shall be borne solely by Tenant’s Contribution”).
D. For purposes C. Upon Tenant's request (but not more frequently than monthly), Landlord's Contribution as provided in Paragraph B hereof shall be paid out from time to time (in contradistinction to completion and receipt by Landlord of this Riderpaid bills) as Tenant's Changes progress, hard costs which request by Tenant shall not include any architectural, engineering or other consulting fees, be accompanied by the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.following:
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees A certificate signed by Tenant or Tenant's architect, dated not more than ten (10) days prior to such request, setting forth the following:
(i) that the sum then requested is justly due to persons who have rendered services or furnished materials for the work therein specified, and expenses giving a brief description of Tenant’s Architect such services and materials and the Consulting Engineersseveral amounts due to each of said persons in respect thereof, andand stating that no part of such expenditure is being made the basis, in any previous or then pending prior request, for the receipt of Landlord's Contribution or has been made out of the proceeds of Landlord's Contribution received by Tenant, and that the sum then requested does not exceed the value of the services and materials described in the certificate;
(ii) that except for the amount, if required by any, stated pursuant to the complexity foregoing subdivision (a) (i) in such certificate to be due for services or materials, there is no outstanding indebtedness (except for withholding of plansten (10%) percent of such amount) known to the persons signing such certificate, drawings which is then due for labor, wages, materials, supplies or services in connection with such work which, if unpaid, might immediately become the basis of a vendor's, mechanic's, laborer's or material man's statutory or similar lien upon such work or upon the land and specifications for the Tenant Improvements building or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure any part thereof or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; upon Tenant's leasehold interest.
(b) an opinion of counsel or other evidence, reasonably satisfactory to Landlord to the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred effect that there has not been filed with respect to the Tenant Improvementsland and building or any part thereof any lien which has not been discharged of record. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant Subject to the Final Plans and Specifications on the basis provisions of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements Paragraph B hereof, upon compliance with the requirements foregoing provisions of this RiderParagraph C, but Landlord shall pay or cause to be paid to Tenant or the persons named (pursuant to subdivision (a)(i) of this Paragraph) in such certificate, the respective amounts stated therein to be due to them provided, however, that (i) each installment of Landlord's Contribution shall be in a sum equal to forty (40.0%) percent of the amounts stated in each such certificate (it being agreed and understood by Tenant that it shall pay sixty (60.0%) percent of the amounts stated in each such certificate out of Tenant's own funds); and (ii) Landlord's Contribution shall not more often than monthlyexceed the sum of TWO HUNDRED SEVENTY-TWO THOUSAND SIX HUNDRED FORTY AND 00/100 ($272,640.00) DOLLARS and that all costs and expenses in excess of said sum shall be borne solely by Tenant.
F. The cost D. As an additional Landlord's Contribution, Landlord shall pay to Tenant the sum of ONE HUNDRED SIX THOUSAND TWO HUNDRED FIVE AND 67/100 ($106,205.67) DOLLARS, as follows: (i) the Tenant Improvements sum of Seventy Thousand and 00/100 ($70,000.00) Dollars shall be paid by Landlord to Tenant within ten (10) days after the date of execution and disbursed as unconditional delivery of this lease by Landlord and Tenant (including Landlord obtaining any non-disturbance agreement required pursuant to Paragraph J of Article 52 herein); and (ii) provided Tenant is not then in default under this lease, the sum of Thirty-Six Thousand Two Hundred Five and 67/100 ($36,205.67) Dollars shall be paid by Landlord to Tenant within thirty (30) days after the title insurance company insuring date on which Tenant commences payment of regular monthly installments of fixed rent under this lease after the Building in order to provide title insurance over expiration of any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvementsfree fixed rent period (excluding any installments of fixed rent paid upon execution of this lease). Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which Such additional Landlord's Contribution may be reasonably requested applied by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Initial Tenant's Changes and/or any brokerage commissions, attorney's fees, moving expenses and/or other costs and expenses incurred by Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with its leasing of, and move into, the demised premises.
E. In coordination with the performance of Tenant's Changes made to prepare the demised premises for initial occupancy by Tenant Improvements("Initial Tenant's Changes"), Landlord, at its sole expense, shall perform the following work (collectively, "Landlord's Work"): (i) construct all building standard demising walls necessary to physically separate the demised premises from the balance of the space on the twenty-fourth (24th) floor of the building; (ii) remove or encapsulate, if and to the extent required by law, any asbestos-containing materials determined to be present in the demised premises during the performance of Initial Tenant's Changes; and (iii) finish the common areas of the twenty-fourth (24th) floor in the building to building standards with reasonable diligence after the Commencement Date. In addition to the foregoing, and as part of Landlord's Work, Landlord, at Tenant's expense (up to a maximum sum of $15,000.00), payable by Tenant to Landlord within twenty (20) days after demand therefor, shall furnish and install one (1) gas riser (together with a gas meter) running to a point at the perimeter of the
F. As part of Initial Tenant's Changes, Tenant shall have the right to install a kitchen exhaust for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure kitchen facility to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error be installed by Tenant in the Plans demised premises. The location, dimensions, finish and Specificationsmanner of installation of such vent and louvre shall be subject to Landlord's prior written approval, which approval shall not be unreasonably withheld.
Appears in 1 contract
Samples: Lease Agreement (Martha Stewart Living Omnimedia Inc)
Landlord’s Contribution. A. (a) Tenant shall have prepared by a registered architect and/or a licensed professional engineer, at Tenant’s sole and exclusive cost and expense, and submit to Landlord for Landlord’s prior written approval in accordance with the applicable provisions of the Lease, final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications, self-certified, in a form ready for use as construction drawings for the installation of alterations, installations, decorations and improvements in the Premises to prepare the same for Tenant’s initial occupancy thereof (“Tenant’s Initial Alteration Work”). All such construction plans and specifications and all such work shall be effected in accordance with all applicable provisions of the Lease at Tenant’s sole and exclusive cost and expense. Landlord has received the basic work plan annexed hereto as Schedule Q, which Landlord approves in principal, however Landlord approval shall at all times remain subject to Landlord receipt and review of final and complete dimensioned architectural, mechanical, electrical and structural drawings and specifications, self-certified, in a form ready for use as construction drawings for the installation of alterations, installations, decorations and improvements in the Premises to prepare the same for Tenant’s initial occupancy thereof. Landlord hereby approves X. Xxxxxx & Associates as Tenant’s contractor in connection with Tenant’s Initial Alteration Work.
(b) Provided that at the time that any requisition for reimbursement is requested by Tenant and at the time that any requisition of the Work Allowance is payable from Landlord to Tenant: (i) Tenant is not in default under any of the terms or conditions of this Lease, beyond any notice and cure periods, including, without limitation being current on all rent and additional rent and (ii) the Lease is in full force and effect, Landlord shall provide reimburse Tenant for the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option cost of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute Work In an amount equal to the lesser of: (y) Four Hundred Twenty-Eight Thousand Eight Hundred and Twenty dollars and 001100 ($428,820.00); and (z) the actual cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s ContributionWork (such lesser amount being deemed, the “Work Allowance”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“As Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims 's contribution for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Initial Alterations, Landlord shall give Tenant Improvements an allowance in excess the amount of the seventy-three thousand six hundred twenty-four dollars ($73,624.00) ("Landlord’s Contribution (“Tenant’s 's Contribution”").
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments disburse Landlord's Contribution directly to the contractor performing the work ("Contractor"), and/or to the applicable subcontractors, and/or to Tenant, as Landlord shall determine, within thirty (30) days after Landlord's receipt of (A) invoices of Contractor furnished to Landlord by Tenant covering work actually performed, construction in place and materials delivered to the site (as may be applicable) describing in reasonable detail such work, construction and/or materials, (B) Landlord’s Contribution 's receipt of a waiver of lien rights from Contractor or the subcontractors or suppliers whose invoices are applicable to the respective disbursement for, and/or on account of, the work or materials covered by such invoice, such waiver to be in such form as Landlord shall reasonably require. No payment will be made for materials or supplies not incorporated into the construction, regardless of whether the cost materials or supplies are located on the Premises. Landlord may withhold the amount of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ retentions provided for in original contracts or subcontracts until expiration of the applicable lien claimsperiods or Landlord's receipt of final lien waivers in such form as Landlord shall reasonably require from Contractor and all subcontractors and suppliers. Notwithstanding anything to the contrary contained herein, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial not be entitled to receive (and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims Landlord shall have no obligation to disburse) all or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward in the cost event Tenant is in default under this Lease at the time Tenant requests such disbursement or at the time such disbursement is to be made. Notwithstanding anything to the contrary in this Section 3, Landlord's Contribution shall be available for disbursement pursuant to the terms hereof no later than December 31, 2003. Accordingly, if any portion of Landlord's Allowance is not utilized prior to December 31, 2003, such unused portion shall be forfeited by Tenant. EXHIBIT C - COMMENCEMENT DATE MEMORANDUM attached to and made a part of the Tenant ImprovementsLease bearing the Lease Reference Date of June 27, Landlord shall receive reasonable assurances from the title insurer 2003 between CALWEST INDUSTRIAL HOLDINGS, LLC, a Delaware limited liability company, as provided in paragraph 4.F.Landlord, and certifications from the General Contractor and Xxxxxx’s ArchitectROCKFORD CORPORATION, an Arizona corporation, as Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness Premises. COMMENCEMENT DATE MEMORANDUM THIS MEMORANDUM, made as of the Plans ______,20 ________, by and Specificationsbetween CALWEST INDUSTRIAL HOLDINGS, or any design error thereinLLC, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans a Delaware limited liability company ("Landlord"), and SpecificationsROCKFORD CORPORATION, an Arizona corporation ("Tenant").
Appears in 1 contract
Samples: Lease (Rockford Corp)
Landlord’s Contribution. A. (a) Landlord shall provide reimburse Tenant for the Premises cost of Initial Tenant Work in its an amount (the “as-is” conditionWork Allowance”) equal to $500,000.00, upon the following terms and conditions:
(A) The Work Allowance shall be payable to Tenant in installments as Initial Tenant Work progresses, but in no event more frequently than monthly;
(B) Prior to the payment of any installment, Tenant shall deliver to Landlord a request for disbursement which shall be accompanied by (x) paid invoices for the Initial Tenant Work performed or incurred since the last disbursement of the Work Allowance, (y) a certificate signed by an officer of Tenant certifying that the Initial Tenant Work and services represented by the aforesaid invoices have been satisfactorily completed, if the Initial Tenant Work involves Alterations, in accordance with the plans and specifications therefor approved by Landlord, and (z) lien waivers by architects, contractors, subcontractors and all materialmen for all such work and services. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) be permitted to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute retain from each disbursement an amount equal to the cost 5% of the Tenant Improvements in excess amount requested to be disbursed by Tenant. The aggregate amount of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements retainages shall be paid by Landlord to Tenant upon the completion of all Initial Tenant Work and disbursed as required upon receipt from Tenant of (1) a certificate signed by the title insurance company insuring the Building in order to provide title insurance over any and an officer of Tenant certifying that all possible mechanics’ lien claimsInitial Tenant Work has been satisfactorily completed, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvementsextent it involves Alterations, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans plans and Specifications.
H. It is understood specifications therefor approved by Landlord, (2) all Building Department sign-offs and agreed that neither Landlord nor its designated agent shall have inspection certificates and any responsibility for construction meanspermits, methods or techniques or safety precautions in connection with if any, required to be issued by the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, Building Department or any design error thereinother governmental entities having jurisdiction thereover, or failure to comply with and (3) a general release from all contractors and subcontractors performing Initial Tenant Work releasing Landlord and Tenant from all liability for any laws or codes or any costs attributable to any lack of adequacy of or any design error Initial Tenant Work; and
(C) Tenant is not then in the Plans and Specificationsdefault under this Lease.
Appears in 1 contract
Samples: Lease (Open Link Financial, Inc.)
Landlord’s Contribution. A. (a) Landlord shall provide reimburse Tenant for the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area cost of the 12th Floor Premises Tenant Work (9,290 rsfas hereinafter defined) to be improved in an amount (“Landlord’s Contribution”) equal to the lesser of (i) one million one hundred seventy five thousand three hundred seventy ($1,175,370) Dollars, or (ii) the actual cost of 12th Floor Premises Tenant Work, upon the terms and conditions set forth in Section 10(b), toward the hard and soft costs .
(b) For purposes of the preceding sentence, actual cost of performing the 12th Floor Premises Tenant ImprovementsWork shall include all construction costs, which amountincluding so-called ”soft” construction costs, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant such as costs and fees for design and engineering and Tenant’s professional and construction consultants (“Soft Costs”), provided, however, that notwithstanding any provision to the contrary contained in this Section 10, Landlord shall not be obligated to contribute toward Soft Costs an amount in excess of 25% of Landlord’s Contribution. Tenant shall submit to Landlord a line item budget setting forth estimated construction costs and Soft Costs prior to commencement of the 12th Floor Premises Tenant Work. Provided that there shall not then be existing a monetary or material non-monetary default which continues beyond notice and the expiration of any applicable grace period under the provisions of the Lease, Landlord shall pay for such costs by paying the contractors, suppliers or consultants designated by Tenant or by reimbursing Tenant (at Tenant’s option) from time to time during the progress of the 12th Floor Premises Tenant Work (but not more than once per month) within 30 days after receipt from Tenant of (i) supporting documentation therefor approved by Tenant, accompanied by a certification of the architect supervising the work (for work covered by such architect’s design), stating that the portion of the work for which Tenant is applying for payment has been completed substantially in accordance with the plans and specifications approved by Landlord, (ii) itemized bills for labor and materials constituting portions of such work submitted by the contractors, suppliers or consultants of the services or materials rendered (and where Tenant elects to be reimbursed, such bills shall have been marked “paid” by the contractor, supplier or consultant), and (iii) waivers of liens evidencing the payment for any prior work performed and materials supplied for which Tenant previously applied for payment, executed and acknowledged by the contractors, suppliers and consultants which are entitled by statute to file mechanics liens. Notwithstanding the foregoing, Landlord may withhold up to $100,000 of Landlord’s Contribution until after Tenant shall have completed the 12th Floor Premises Tenant Work and Tenant shall have delivered to Landlord (A) all Building Department sign-offs and inspection certificates and any permits required to be issued by the Building Department or any other government entities having jurisdiction thereover, (B) “as built” plans and specifications for the 12th Floor Premises Tenant Work, and (C) general releases and waivers of lien from all contractors, subcontractors and materialmen who have performed work in excess of $15,000 or furnished materials in excess of $15,000 in connection with the 12th Floor Premises Tenant Work. Without limiting the generality of the foregoing, a material non-monetary default shall include any default by Tenant in its obligations under this Agreement, including any default in the performance of any of the 12th Floor Premises Tenant Work. Any amounts withheld due to any default by Tenant shall be payable within 60 days after presentation paid to Tenant in accordance with the terms of invoices and
B. upon Xxxxxx’s request as this Section 10 when such default (and any other defaults by Tenant) has been cured. If Tenant elects to perform work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to 12th Floor Premises which results in the cost of the 12th Floor Premises Tenant Improvements in excess of the Work exceeding Landlord’s Contribution (“Tenant’s Contribution”), Landlord shall have no obligation to reimburse Tenant for such excess costs.
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, (c) the right to receive reimbursement for the cost of procurement and/or installation 12th Floor Premises Tenant Work as set forth in this Section 10 shall be for the exclusive benefit of furnitureTenant, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, it being the soft costs express intent of the Tenant Improvements parties hereto that in no event shall include, and Landlord’s Contribution may such right be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications conferred upon or for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (benefit of any third party, including, without limitation, its structure any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costsperson, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract firm or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlyentity.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease (Dow Jones & Co Inc)
Landlord’s Contribution. A. Landlord shall provide pay the Premises Landlord's Contribution to Tenant to reimburse Tenant for the costs actually incurred by Tenant in its “as-is” conditionperforming the TI Work ("Tenant's Costs"). Landlord The Landlord's Contribution may be applied toward hard construction costs incurred by Tenant in performing the TI Work, but shall contribute not be applied toward soft costs or toward the sum acquisition or leasing of $297,280.00furniture, which is Thirty Two ($32.00) Dollars per square foot office equipment or other personal property of rentable area Tenant. The payment of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s 's Contribution shall be payable within 60 days after presentation subject to the satisfaction of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance all of the work following conditions precedent:
(i) all of the TI Work shall have been finally completed and waiver all of claims Tenant's obligations with respect thereto shall have been completed and performed in all respects in accordance therewith;
(ii) Tenant shall have furnished to Landlord evidence reasonably satisfactory to Landlord that all of the TI Work has been paid for lien for work performed in full;
(iii) Tenant shall have furnished to Landlord evidence reasonably satisfactory to Landlord of the total amount that has been expended by Tenant on account of Tenant's Costs;
(iv) Tenant shall have furnished to Landlord an affidavit of Tenant's general contractor, in form and substance reasonably satisfactory to Landlord, dated no earlier than the date of final completion, stating that any such payment.and all amounts due to said general contractor and all subcontractors and other parties attributable to labor and materials furnished in connection with the TI Work have been paid in full;
C. (v) Tenant shall contribute an amount equal have furnished to Landlord executed affidavits and lien waivers from said general contractor and said subcontractors and other parties stating that such parties have been paid all amounts due to them through and including the cost date of final completion and waiving any and all liens attributable to labor and materials furnished by such parties in connection with the TI Work through and including such date;
(vi) Tenant Improvements in excess shall have furnished Landlord with copies of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Riderall governmental approvals, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems)a permanent certificate of occupancy, necessary for Tenant to occupy the fees and expenses of other consultants and professionals engaged by XxxxxxxxPremises; and
(bvii) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does is not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing then in default under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlyLease.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Landlord’s Contribution. A. (A) With respect to Tenant's ----------------------- installation of alterations, installations, decorations and improvements in the Additional Space to prepare the same for Tenant's initial occupancy thereof ("Tenant's Alterations"), within forty-five (45) days of Tenant's receipt of a fully executed counterpart of this Lease, Tenant shall submit full architectural and engineering plans and specifications to Landlord for Landlord's approval ("Tenant's Plans"). All such construction plans and specifications and all such work shall provide be effected in accordance with Article 7, as supplemented, and the Premises other provisions of the Lease. If and so long as Tenant is not in its “as-is” condition. default of this Agreement and the Lease after notice in accordance with the terms of this Lease (in which event Tenant's rights under this Article shall not be extinguished but, rather, suspended through the earlier of the cure by Tenant and the expiration of the applicable cure period) of any of the terms, covenants and conditions of the Lease then, subject to and in accordance with the provisions of this Article, Landlord shall will contribute a sum up to but not exceeding the sum of $297,280.0049,764.00 to be applied to the costs for labor and materials for the portion of Tenant's Alterations which constitute permanent leasehold improvements (including paint, which is Thirty Two carpeting, wall coverings and telephone wiring) made in the Additional Space prior to Tenant's initial occupancy thereof ($32.00"Landlord's Contribution"). Without limitation, for purposes of this Article, ----------------------- permanent leasehold improvements shall be deemed not to include, and Landlord's Contribution shall not be applied to the cost of professional fees, trade fixtures, equipment, filing fees or interest relating to or in connection with Tenant's Alterations.
(B) Dollars per square foot Tenant may from time to time during the performance of rentable area of Tenant's Alterations submit to Landlord contractor's invoices for work completed in connection with Tenant's Alterations. The submission must include the following documents covering the invoiced work and materials.
1. Contractor's Application For Payment (AIA G702 - See Exhibit B).
2. Lien Waiver from Contractor and from subcontractors or suppliers who have supplied materials or performed work in the Premises (9,290 rsf) to AIAG7O6A - See Exhibit B).
3. Receipt for Payment from Contractor and from subcontractors or suppliers who have supplied materials or performed work in the Premises (Payment Receipt - See Exhibit B)
4. Architect's Certificate For Payment (AIAG7O2 - See Exhibit B). Provided that Tenant is not in default under any of the terms, covenants, provisions and conditions of this Lease after notice in accordance with the terms of this Lease (in which event Tenant's rights under this Article shall not be improved (“Landlord’s Contribution”extinguished but, rather, suspended through the earlier of the cure by Tenant and the expiration of the applicable cure period), toward Landlord shall make payment to Tenant (collectively, the hard and soft costs "Progress Payments") no more than ten (10) business days after Tenant has completed all requirements set forth herein for the funding therefor, ninety (90%) percent of the Tenant Improvements, aggregate amount for which amount, at invoices have been submitted (including any retainage specified in such invoices). In no event shall Progress Payments exceed ninety (90%) percent of the option Landlord's Contribution in the aggregate.
(C) The balance of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. the Landlord’s 's Contribution shall be payable within 60 ten (10) business days after presentation the substantial completion of invoices and
B. upon Xxxxxx’s request as work progresses Tenant's Alterations provided that all of the following conditions have been met:
(1) Tenant is not then in default under the terms, covenants and conditions of this Agreement and the Lease, after notice in accordance with the terms of this Lease (in which event Tenant's rights under this Article shall not be extinguished but, rather, suspended through the earlier of the cure by Tenant and the expiration of the applicable cure period);
(2) Tenant shall have substantially completed all construction and installations substantially in accordance with Tenant's Plans as approved by Landlord;
(3) Tenant shall have submitted to Landlord a breakdown of Tenant's final and total construction costs, detailed by contractor and major subcontractors and suppliers;
(4) The submission for the balance of Landlord's Contribution is provided contractors’ affidavitsaccompanied by the same documentation required under Section (B) 1, waivers of lien2, 3, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes 4 of this RiderArticle for the remaining monies due, hard costs shall not include any architectural, engineering or other consulting feesexcept that documents will be marked "Final". In addition, the cost submission must include a letter of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses completion of Tenant’s Architect and 's Alterations from the Consulting Engineers, andCity of New York Department of Buildings, if required by applicable law.
(D) It is expressly understood and agreed that if the complexity amount of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) Landlord's Contribution is less than the cost of permits; (c) costs of construction escrow with a title companyTenant's Alterations, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use shall remain solely responsible for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase payment and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costscompletion of, and the termination penalty shall complete at AmeriQuest’s current facilityits sole cost and expense, Tenant's Alterations. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward not credited (or disbursed) shall be retained by Landlord.
(E) Landlord consents in concept only and as part of Tenant's Alterations, to Tenant's installation of a recessed intercom system located outside of and adjacent to the cost entrance door of the Tenant ImprovementsDemised Premises provided, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architecthowever, that Tenant shall first submit plans and specifications to Landlord for the portion installation of the Tenant Improvements for which payment is being sought has in fact been completed same in accordance with the Final Plans provisions hereof for Landlord's prior written approval and Specifications.
H. It is understood provided that all other aspects of construction and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions installation are performed in connection accordance with the Tenant Improvementsterms of this Agreement and the Lease. Said plans and specification shall include, or for but not be limited to, the accuracy or completeness location of the Plans recessed intercom system on the area adjacent to the entrance door of the Demised Premises and Specificationsthe type, style and method installation and materials to be utilized by Tenant, its agents or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error servants in the Plans and Specificationsinstallation of same.
Appears in 1 contract
Samples: Lease Agreement (Phase2media Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a) fees and expenses of Tenant’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications for the Landlord agrees to pay to Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) any other costs reasonably incurred with respect an amount not to the Tenant Improvements. Fifty percent (50%) of exceed Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s 's Contribution toward the cost of the Initial Installations (excluding any "soft-costs" (other than architectural, engineering, permit and construction consulting fees not in excess of $67,812.50 plus an amount equal to any "tap-in" fee paid by Tenant Improvementspursuant to Section 11.11) and Tenant's Property), provided that as of the date on which Landlord is required to make payment thereof pursuant to Section 4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists. Tenant shall pay all costs of the Initial Installations in excess of Landlord's Contribution. Landlord's Contribution shall be payable solely on account of labor directly related to the Initial Installations and materials delivered to the Premises in connection with the Initial Installations (excluding any "soft-costs" (other than architectural, engineering, permit and construction consulting fees not in excess of $67,812.50 plus an amount equal to any "tap-in" fee paid by Tenant pursuant to Section 11.11) and Tenant's Property). Tenant shall not be entitled to receive any portion of Landlord's Contribution not actually expended by Tenant in the performance of the Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction of the conditions set forth in Section 4.2, or upon the occurrence of the date which is twelve months after the Commencement Date (which date shall be extended by reason of strikes, labor trouble or any other similar cause beyond Tenant's control in performing the Initial Installations), whichever first occurs, any amount of Landlord's Contribution which has not been previously disbursed shall be retained by Landlord; provided, however, that notwithstanding anything contained herein to the contrary, the applicable portion of such retained amounts shall continue to be held for the benefit of Tenant by Landlord if Tenant delivers a notice to Landlord prior to satisfaction of the conditions set forth in Section 4.2 that it is in dispute with any contractors, subcontractors, vendors or other providers of service and refuses to make payments at such time or if any contracts provide for retainage which has not then been finally paid.
(b) Landlord shall receive reasonable assurances make progress payments to Tenant on a monthly basis, for the work performed during the previous month, up to 90% of Landlord's Contribution. Each of Landlord's progress payments shall be limited to an amount equal to the aggregate amounts theretofore paid by Tenant (as certified by the chief financial officer of Tenant and by Tenant's independent architect) to Tenant's contractors, subcontractors and material suppliers which have not been subject to previous disbursements from Landlord's Contribution multiplied by 90%. Provided that Tenant delivers requisitions to Landlord on or prior to the title insurer as provided in paragraph 4.F.10th day of any month, such progress payments shall be made within 30 days next following the delivery to Landlord of requisitions therefor, signed by the chief financial officer of Tenant, which requisitions shall set forth the names of each contractor and subcontractor to whom payment is due, and certifications the amount thereof, and shall be accompanied by (i) with the exception of the first requisition, copies of partial waivers of lien from all contractors, subcontractors, and material suppliers covering all work and materials which were the General Contractor subject of previous progress payments by Landlord and Xxxxxx’s Architect, Tenant, any inspecting architect, (ii) a written certification from Tenant's architect that the portion of the Tenant Improvements work for which payment the requisition is being sought made has in fact been completed substantially in accordance with the Final Plans plans and Specifications.
H. It is understood specifications approved by Landlord and agreed that neither (iii) such other documents and information as Landlord nor its designated agent shall have any responsibility for construction meansmay reasonably request, methods or techniques or safety precautions including in connection with title drawdowns and endorsements. Any requisition made following the 10th day of any month shall be paid no later than the last day of the month following the month in which such requisitions are made. Landlord shall disburse any amount retained by it hereunder upon submission by Tenant Improvementsto Landlord of Tenant's requisition therefor accompanied by all documentation required under this Section 4.2(b), together with (A) proof of the satisfactory completion of all required inspections and issuance of any required approvals, permits and sign-offs for the Initial Installation by Governmental Authorities having jurisdiction thereover, (B) final "as-built" plans and specifications for the Initial Installations as required pursuant to Section 5.1(c) and (C) issuance of final lien waivers by all contractors, subcontractors and material suppliers covering all of the Initial Installations. Notwithstanding anything to the contrary set forth in this Section 4.2(b), if Tenant does not pay any contractor or supplier as required by this provision, Landlord shall have the right, but not the obligation, to promptly pay to such contractor or supplier all sums so due from Tenant, and Tenant agrees the same shall be deemed Additional Rent and shall, at Landlord's election, (x) be paid by Tenant within 10 days after Landlord delivers to Tenant an invoice therefor or (y) offset by Landlord against Landlord's Contribution. The right to receive Landlord's Contribution is for the exclusive benefit of Tenant, and in no event shall such right be assigned to or be enforceable by or for the accuracy benefit of any third party, including any contractor, subcontractor, materialman, laborer, architect, engineer, attorney or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specificationsother Person.
Appears in 1 contract
Samples: Lease (Greenhill & Co Inc)
Landlord’s Contribution. A. Landlord shall provide the Premises in its “as-is” condition. Landlord shall contribute the sum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward reimburse Tenant for the hard and soft costs incurred by Tenant with respect to certain Alterations Tenant intends to perform ("Tenant's Work") in the Premises up to [***] ("Landlord’s Contribution") provided that a requisition is submitted by Tenant in accordance with the provisions of this Section on or before December 31, 2026 (the Tenant Improvements"Outside Requisition Date"). Landlord’s Contribution may not be applied to costs arising from an Event of Default or from any facts or circumstances that could become an Event of Default, which amount, at such as legal fees or bonding costs arising in connection with a mechanic's lien placed on the option of Tenant, maybe disbursed directly to Tenant, Premises or Xxxxxx’s contractors, or jointly to interest therein. Tenant and Tenant’s contractorsshall be entirely responsible for any excess. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon by Landlord to Tenant (or, at Landlord’s election, directly to Xxxxxx’s contractor) upon written request, which request as work progresses provided that Landlord is provided contractors’ affidavitsshall be given no more frequently than once every thirty (30) days, waivers of lienfor such disbursement, and other documentation customarily provided to evidence performance of the work and waiver of claims which shall be accompanied by: (i) invoices for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to the cost of the Tenant Improvements in excess of the Landlord’s Contribution (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with Work covered such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay forrequisition; (aii) fees and expenses copies of partial lien waivers or final lien waivers (in the case of a final installment); (iii) a certificate signed by the Tenant’s Architect and the Consulting Engineers, and, if required architect certifying that Xxxxxx’s Work represented by the complexity of plans, drawings and specifications for the Tenant Improvements or aforementioned invoices has been completed substantially in accordance with plans approved by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by XxxxxxxxLandlord; (biv) a certificate of substantial completion and as-built plans for Tenant’s Work (in the cost case of permits; (c) costs of construction escrow with a title company, if anyfinal installment; and (dv) all other information and materials reasonably requested by Landlord. Landlord shall pay each required installment within thirty (30) days of receiving the materials enumerated in the previous sentence. Notwithstanding the foregoing, Tenant may elect, by written notice to Landlord at any other costs reasonably incurred with respect to the Tenant Improvements. Fifty time prior fifty percent (50%) of Landlord’s Contribution the next due installments of Base Rent payable under the Lease, in which the case, such credit elected by Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthlyso applied until fully utilized.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Hologic Inc)
Landlord’s Contribution. A. Section 43.01. Supplementing the provisions of Article 9 and Article 42 hereof, provided that Tenant shall not then be in monetary default or in default of a material obligation under this Lease beyond applicable notice and cure periods, Landlord shall provide (subject to, and in accordance with, the Premises provisions of this Article) contribute an amount, not to exceed in its “as-is” condition. Landlord shall contribute aggregate (including soft costs), the sum of $297,280.00, which is Thirty Two 260,968.00 ($32.00"Landlord's Contribution") Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved (“Landlord’s Contribution”), toward the hard and soft costs of the Tenant Improvements, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and Tenant’s contractors. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. upon Xxxxxx’s request as work progresses provided that Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of any such payment.
C. Tenant shall contribute an amount equal to towards the cost of performing Tenant's Work to prepare the Tenant Improvements in excess portion of the Landlord’s Contribution Demised Premises located on the eighth (“8th) floor for Tenant’s Contribution”).'s initial occupancy, but not any costs associated with the design and construction of a staircase connecting the seventh (7th) and eighth (8th) floors of the Demised Premises. Tenant shall deliver to Landlord evidence of the expenses incurred in the installation and construction of Tenant's Work, such as paid invoices, receipted bills, or cancelled checks to the contractors or sub-contractors employed in the performance of said Tenant's Work. The evidence of the expenses incurred with respect to labor and materials theretofore performed and incorporated into the Demised Premises, shall be allocated as follows:
D. For purposes of this Rider(i) expenses with respect to "soft costs" (which shall be defined herein to mean all costs, hard costs shall not include fees and charges for permits and licenses and any architectural, engineering or other and design consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated and construction management fees incurred in connection with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall includeTenant's Work), and Landlord’s Contribution may (ii) the amount of "hard costs" (which shall be utilized defined herein to pay for; (a) fees mean all costs and expenses of labor, materials and supplies incurred in connection with Tenant’s Architect and the Consulting Engineers's Work, and, if required by the complexity of plans, drawings and specifications for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure carpeting). The terms "soft costs" and "hard costs" shall specifically exclude any expenses for the purchase or systems)installation of moveable communications equipment, the fees moveable computer equipment, furniture and expenses of other consultants art work and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d) Landlord shall have no obligation to make any other costs reasonably incurred Landlord's Contribution with respect to such items. Landlord's obligation to pay Landlord's Contribution toward soft costs in connection with the Tenant Improvements. Fifty Tenant's Work shall not exceed seventeen percent (5017%) of Landlord’s 's Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the leasedisbursed. Tenant shall advise Landlord provide a reasonable initial estimate (the "Initial Estimate") of the cost of the Tenant Improvements pursuant Tenant's Work, which Initial Estimate may be reasonably updated from time to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvementstime. Landlord shall make payments of Landlord’s Contribution on account reimburse Tenant, or in the event Tenant shall use one of the cost of Tenant Improvements upon compliance with contractors on Landlord's then approved list, shall make payment to such contractor, in the requirements of this Ridersame proportion that Landlord's Contribution bears to the Initial Estimate, but as reasonably updated from time to time, not more often than monthly.
F. The cost one (1) time per month, for the expenses incurred in performing Tenant's Work to the extent that such expenses do not exceed Landlord's Contribution and subject to a 10% holdback. Such reimbursement shall be made as the performance of Tenant's Work progresses within thirty (30) days of receipt of evidence of such expenses. Provided that Tenant shall not then be in default under this Lease beyond the expiration of applicable notice and cure period, within thirty (30) days following the last to occur of: (v) Tenant's request for payment of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion installment of Landlord’s Contribution toward the cost 's Contribution, (w) completion of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed 's Work in accordance with the Final Plans provisions of this Lease, (x) the certification of Tenant's architect that the same has been completed in a good and Specifications.
H. It is understood workmanlike manner, to the satisfaction of Tenant's architect, substantially in accordance with Tenant's plans and agreed that neither specifications and in compliance with all governmental permits, (y) delivery by Tenant to Landlord nor its designated agent of waivers of lien from all contractors desiring final payment for all work performed by such Contractors and (z) delivery by Tenant to Landlord of "as built" drawings with respect to Tenant's Work, the balance of Landlord's Contribution which has not been previously disbursed shall have any responsibility for construction meansbe disbursed to much contractor, methods or techniques Tenant, am the came may be. Landlord Shall be entitled to deduct from Landlord's Contribution the supervisory fee referred to in Article 9 of this Lease, if any. Notwithstanding the foregoing, if Landlord has not received, on or safety precautions before January 1, 1994, a request from Tenant in connection accordance with the Tenant Improvements, provisions of this Article 43 for payment of all or for the accuracy or completeness any portion of the Plans Landlord's Contribution, then, at Landlord's option, Landlord shall be relieved of any further obligations with respect to Landlord's Contribution and Specifications, or shall credit any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack unpaid Landlord's Contribution against the monthly installments of adequacy of or any design error in Fixed Rent and additional rent next due under the Plans and SpecificationsLease.
Appears in 1 contract
Samples: Lease (Ogara Co /Oh/)
Landlord’s Contribution. A. (a) Landlord shall provide reimburse Tenant (or, at Tenant’s request, pay directly to Tenant’s general contractor or construction manager) for costs incurred by Tenant for Tenant’s Initial Work performed within 3 years after the Premises Commencement Date (the “Work Reimbursement Period”) up to (and in its no event in excess of) an amount (the “as-is” condition. Landlord shall contribute the sum of Work Allowance”) equal to $297,280.00, which is Thirty Two ($32.00) Dollars 125.00 per rentable square foot of rentable area the Premises initially demised under this Lease, upon the following terms and conditions:
(A) The Work Allowance shall be payable to Tenant (or to Tenant’s general contractor or construction manager, as directed by Tenant) in installments as Tenant’s Initial Work progresses, but in no event more frequently than monthly. Installments of the Premises Work Allowance shall be payable by Landlord within 30 days following Tenant’s satisfaction of (9,290 rsf) or substantial compliance to be improved (“Landlord’s Contributionreasonable satisfaction with) each of the conditions required for disbursement set forth in this Section 3.03(a), it being understood that minor or insubstantial deviations from any documentary requirements included in said conditions that are otherwise reasonably satisfactory to Landlord shall not result in a withholding of the installment of the Work Allowance requested by Tenant.
(B) Prior to the payment of any installment, Tenant shall deliver to Landlord a request for disbursement (each being hereinafter called a “Tenant Requisition”), toward which shall be accompanied by (1) invoices for Tenant’s Initial Work performed or incurred since the hard last Tenant Requisition and soft costs disbursement of the Tenant ImprovementsWork Allowance, which amount, at the option of Tenant, maybe disbursed directly to Tenant, Xxxxxx’s contractors, or jointly to Tenant and (2) a certificate signed by Tenant’s contractors. Landlordarchitect and an officer of Tenant certifying that to such architect’s Contribution shall be payable within 60 days after presentation of and officer’s knowledge, Tenant’s Initial Work and services represented by the aforesaid invoices and
B. upon Xxxxxx’s request as work progresses provided that have been satisfactorily completed in substantial accordance with the plans and specifications therefor approved by Landlord is provided contractors’ affidavits, waivers of lien, and other documentation customarily provided to evidence performance of the work and waiver of claims for lien for work performed to the date of such certification, and have not been the subject of a prior disbursement of the Work Allowance, and (3) lien waivers by architects, contractors, subcontractors and all materialmen for all such work and services (it being understood and agreed that conditional lien waivers shall be delivered for work which is the subject of Tenant Requisition in question and unconditional lien waivers shall be delivered for all completed work which was the subject of the previous Tenant Requisition). If any matter concerning a Tenant Requisition is disputed by Landlord, any undisputed portion thereof shall be funded by Landlord without limiting Landlord’s rights to dispute the disputed portion, and such payment.
C. Tenant dispute with respect to such disputed portion shall contribute be resolved by arbitration in accordance with the provisions of Section 8.09. Each installment payment of the Work Allowance shall be limited to an amount equal to the cost amount requested by Tenant pursuant to clause (1) of this paragraph. In addition, if the amount requested by Tenant does not already reflect the Minimum Retainage against the amount requested by the applicable contractor or subcontractor, then Landlord shall be permitted to retain from each disbursement an amount equal to the Minimum Retainage of the Tenant Improvements in excess of the Landlord’s Contribution amount requested to be disbursed by Tenant. “Minimum Retainage” means (“Tenant’s Contribution”).
D. For purposes of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may be utilized to pay for; (a1) fees and expenses 10% until at least 50% of Tenant’s Architect Initial Work is substantially complete and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications paid for the Tenant Improvements or by a proposal by Tenant which could have a material effect on the Building (including, without limitation, its structure or systems), the fees and expenses of other consultants and professionals engaged by Xxxxxxxx; (b) the cost of permits; (c) costs of construction escrow with a title company, if any; and (d2) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty percent (50%) of Landlord’s Contribution which the Tenant does not use for the Tenant Improvements may be utilized to offset the cost associated with construction costs, the purchase and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this Rider, but not more often than monthly5% thereafter.
F. The cost of the Tenant Improvements shall be paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, for that work for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition to the payment by Landlord of any portion of Landlord’s Contribution toward the cost of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and Specifications.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Landlord’s Contribution. A. Landlord shall provide reimburse Tenant for the Premises in its hard costs and costs of architectural and engineering services incurred by Tenant with respect to the performance of Tenant’s Work (the “as-is” condition. Landlord shall contribute the sum Cost of Tenant’s Work”) up to a maximum of $297,280.00, which is Thirty Two ($32.00) Dollars per square foot of rentable area of the Premises (9,290 rsf) to be improved 314,425.00 (“Landlord’s Contribution”), toward ) provided that a requisition is submitted by Tenant in accordance with the hard and soft costs provisions of this Exhibit C on or before the Tenant Improvements, which amount, at date that is twelve (12) months after the option Commencement Date. The Costs of Tenant’s Work shall not include costs arising from an Event of Default or from any facts or circumstances that could become an Event of Default, maybe disbursed directly to Tenant, Xxxxxxsuch as legal fees or bonding costs arising in connection with a mechanic’s contractors, lien placed on the Premises or jointly to Tenant and Tenant’s contractorsinterest therein. Tenant shall be entirely responsible for any excess. Landlord’s Contribution shall be payable within 60 days after presentation of invoices and
B. by Landlord to Tenant (or, at Landlord’s election, directly to Tenant’s contractor) upon Xxxxxxwritten requisition to Landlord in monthly installments, as provided below, according to reasonable construction disbursement procedures and as Tenant’s request as work progresses provided that Landlord is provided contractors’ affidavitsWork progresses. In any case, waivers of lien, and other documentation customarily provided prior to evidence performance of the work and waiver of claims for lien for work performed to the date payment of any such payment.
C. installment Tenant shall contribute an deliver to Landlord a written request, which request shall be given no more frequently than once every thirty (30) days, for such disbursement, which shall be accompanied by: (i) invoices for Tenant’s Work covered such requisition; (ii) copies of partial lien waivers or final lien waivers (in the case of a final installment); (iii) a certificate signed by the Tenant’s architect certifying that Tenant’s Work represented by the aforementioned invoices has been completed substantially in accordance with the Approved Plans; (iv) a certificate of substantial completion and as-built plans for Tenant’s Work (in the case of a final installment); and (v) all other information and materials reasonably requested by Landlord. Landlord shall pay each required installment within thirty (30) days of receiving the materials enumerated in the previous sentence. Each installment by Landlord will be in the amount of Landlord’s pro-rata share based on the ratio of Landlord’s Contribution to the total Cost of Tenant’s Work (as evidenced by reasonably detailed documentation delivered to Landlord with the requisition first submitted by Tenant), less a retainage equal to the cost greater of the Tenant Improvements retainage set forth in excess the construction contract or five percent (5%) of amount due under the construction contract, but in no event shall Landlord be required to pay more than Landlord’s Contribution. Landlord shall not be obligated to disburse funds for materials stored off-site. In the event that any amount of Landlord’s Contribution (“remains after reimbursement for the total Costs of Tenant’s Contribution”).
D. For purposes Work, Tenant may apply up to $62,885.00 from such remaining amount of this Rider, hard costs shall not include any architectural, engineering or other consulting fees, the cost of procurement and/or installation of furniture, furniture and/or demountable partitions, indirect lighting mounted to furniture and/or demountable partitions or significant areas of raised computer flooring including all infrastructure associated with such installations.
E. For purposes of this Rider, the soft costs of the Tenant Improvements shall include, and Landlord’s Contribution may against the first due amounts of Basic Rent due hereunder. RE: [Name of Tenant] Dear [Name of Contact]: Reference is made to that certain Lease, dated as of __________________, 20__, between [Landlord], as Landlord and [Tenant] as Tenant, with respect to Premises on the ____ floor of the above-referenced building. In accordance with Exhibit C of the Lease, this is to confirm that the Commencement Date of the Term of the Lease occurred on ________________, and that the Term of the Lease shall expire on ________________. If the foregoing is in accordance with your understanding, kindly execute the enclosed duplicate of this letter, and return the same to us. Very truly yours, By: Name: Title: Accepted and Agreed: By: Name: Title: Date: Operating Expenses shall include the following, without limitation:
1. All expenses incurred by Landlord or Landlord’s agents which shall be utilized directly related to pay for; (a) fees employment of personnel, including amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and similar taxes, workmen’s compensation insurance, disability benefits, pensions, hospitalization, retirement plans and group insurance, uniforms and working clothes and the cleaning thereof, and expenses of Tenantimposed on Landlord or Landlord’s Architect and the Consulting Engineers, and, if required by the complexity of plans, drawings and specifications agents pursuant to any collective bargaining agreement for the Tenant Improvements services of employees of Landlord or by a proposal by Tenant which could have a material effect on Landlord’s agents in connection with the Building (operation, repair, maintenance, cleaning, management and protection of the Property, including, without limitation, its structure or systems)day and night supervisors, manager, accountants, bookkeepers, janitors, carpenters, engineers, mechanics, electricians and plumbers and personnel engaged in supervision of any of the fees persons mentioned above; provided that, if any such employee is also employed on other property of Landlord, such compensation shall be suitably prorated among the Property and expenses of such other consultants and professionals engaged by Xxxxxxxx; (b) the properties.
2. The cost of permits; (c) services, utilities, materials and supplies furnished or used in the operation, repair, maintenance, cleaning, management and protection of the Property.
3. The cost of replacements for tools and other similar equipment used in the repair, maintenance, cleaning and protection of the Property, provided that, in the case of any such equipment used jointly on other property of Landlord, such costs shall be suitably prorated among the Property and such other properties.
4. Where the Property is managed by Landlord or an affiliate of construction escrow Landlord, management fees at reasonable rates for self-managed buildings consistent with a title companythe class of building and the services rendered, if any; and (d) any other costs reasonably incurred with respect to the Tenant Improvements. Fifty which management fees shall not exceed four percent (504%) of Landlord’s Contribution which the Tenant does gross annual income, whether or not use for the Tenant Improvements may be utilized to offset the cost associated with construction costsactually paid, or where managed by other than Landlord or an affiliate thereof, the purchase amounts accrued for management, together with, in either case, amounts accrued for legal and installation of furniture and telephone systems, cabling the premise for voice and data, architectural and engineering fees, project management fees, moving costs, and the termination penalty at AmeriQuest’s current facility. Any of the unused tenant improvement allowance shall be used as additional rent abatement against the first rent dollars owing under the lease. Tenant shall advise Landlord of the cost of the Tenant Improvements pursuant other professional fees relating to the Final Plans and Specifications on the basis of a construction contract or contracts executed by Tenant for the Tenant Improvements. Landlord shall make payments of Landlord’s Contribution on account of the cost of Tenant Improvements upon compliance with the requirements of this RiderProperty, but not more often than monthly.
F. The cost of the Tenant Improvements shall be excluding such fees and commissions paid and disbursed as required by the title insurance company insuring the Building in order to provide title insurance over any and all possible mechanics’ lien claims, or rights thereto, in connection with the Tenant Improvements. Tenant shall provide, services rendered for that work securing or renewing leases and for which Xxxxxx will contract directly, such contractors’ affidavits, sworn statements, undertakings, partial and final waivers of lien, architect’s certificates and any other documentation which may be reasonably requested by such title insurance company for the purpose of insuring over such mechanics’ lien claims or rights thereto. Tenant is required to submit a written request to Landlord, which must include a Tenant Sworn Statement, when requesting partial or final funding of Landlord contribution.
G. As a condition matters not related to the payment by Landlord of any portion of Landlord’s Contribution toward the cost normal administration and operation of the Tenant Improvements, Landlord shall receive reasonable assurances from the title insurer as provided in paragraph 4.F., and certifications from the General Contractor and Xxxxxx’s Architect, Tenant, any inspecting architect, that the portion of the Tenant Improvements for which payment is being sought has in fact been completed in accordance with the Final Plans and SpecificationsProperty.
H. It is understood and agreed that neither Landlord nor its designated agent shall have any responsibility for construction means, methods or techniques or safety precautions in connection with the Tenant Improvements, or for the accuracy or completeness of the Plans and Specifications, or any design error therein, or failure to comply with any laws or codes or any costs attributable to any lack of adequacy of or any design error in the Plans and Specifications.
Appears in 1 contract
Samples: Lease Agreement (Arsanis, Inc.)
