Lessee Improvement Allowance. Lessor agrees to provide to Lessee a building improvement allowance in an amount of up to Three Hundred Ninety Seven Thousand Four Hundred Dollars ($397,400.00) (the “Lessee Improvement Allowance”) subject to each and all of the following conditions:
(a) The Lessee Improvement Allowance shall be used solely for those improvements to the Premises required for Lessee’s occupancy that are permanent in nature and of a character that adds permanent value to the Building including but not limited to reasonable architectural and engineering expenses, installation and distribution of HVAC in warehouse and lab areas, additional electrical power panels and distribution, demolition and reconfiguration of interior offices, installation of ESD flooring in production areas, reasonable design fees, permit fees, construction material and supplies, and amounts paid to contractors and subcontractors or are included within the categories set forth on Exhibit “C” attached hereto (“Lessee Improvement Work”). The Lessee Improvement Work shall be subject to approval of Lessor in accordance with the provisions of Paragraph 7.3(b) and 60.(c). The Lessee Improvement Allowance may not be used for Lessee’s furniture, fixtures or equipment.
(b) The Lessee Improvement Work shall be of a quality and quantity consistent with that of a first class research and development (R&D) property.
(c) Prior to commencing the Lessee Improvement Work, Lessee shall present to Lessor for Lessor’s review and written approval plans, specifications and a schedule of the Lessee Improvement Work providing detailed information such as make, model and specifications of equipment to be installed, quantities, unit pricing, specific location of the Building where improvements will be performed, the name of the contractor, phasing of work and total contract price for the Lessee Improvement Work.
(d) Lessee shall comply with all terms and conditions set forth in the Declaration in connection with the construction of the Lessee Improvement Work, including, without limitation, obtaining all necessary approvals of the Lessee Improvement Work by the Architectural Committee, and complying with all Architectural Standards (as defined in the Declaration), if any, established pursuant to the Declaration.
(e) Lessor shall not have any obligation to provide the Lessee Improvement Allowance unless all of the following conditions are met:
(i) Lessor shall have received written verification of all hard and soft costs actually ...
Lessee Improvement Allowance. Lessor shall provide a lessee improvement allowance (the “Lessee Improvement Allowance”) in the amount of Two Million One Hundred Eighteen Thousand Three Hundred and 00/100 Dollars ($2,118,300.00) to be used by Lessee solely for improving the Premises pursuant to the Design Drawings (as defined in Section 3.2 below). The Lessee Improvement Allowance shall be used towards the costs of Lessee Improvement Allowance Items (defined below) and Lessor shall be under no obligation to fund costs relating to furniture, equipment, including, without limitation, screening or viewing equipment, trade fixtures, moving expenses and other personal property. In no event shall Lessor be obligated to make disbursements of Lessor’s funds pursuant to this Work Letter in a total amount which exceeds the cost of the Lessee Improvement Allowance Items. All such improvements shall be subject to all of the terms of this Exhibit E. The Lessee Improvement Allowance must be used on or before November 1, 2007 or any unused portion of the Lessee Improvement Allowance shall be waived and forfeit as to Lessee. Also, if the actual cost of such improvements is less than the amount of the Allowance, the unused portion of the Allowance shall be forfeited by Lessee.
Lessee Improvement Allowance. Eight and 50/100ths Dollars ($8.50) per square foot of Rentable Area in the Premises. (EXHIBIT "C")
Lessee Improvement Allowance. Lessee shall be entitled to a one-time tenant improvement allowance (the "Lessee Improvement Allowance") in an amount up to Eight and 50/100ths Dollars ($8.50) per square foot of Rentable Area within the Premises, which Lessee Improvement Allowance shall be used for the costs relating to the initial construction of Lessee's improvements which are permanently affixed to the Premises (the "Lessee Improvements"). In no event shall Lessor be obligated to make disbursements pursuant to this Exhibit in a total amount which exceeds the Lessee Improvement Allowance.
Lessee Improvement Allowance. The cost of the Lessee Improvements and Additional Lessee Improvements shall include the cost of all labor and materials for the construction and installation of the Lessee Improvements and Additional Lessee Improvements respectively; the cost of all permits, licenses and fees; all amounts paid to Lessor's contractors under and pursuant to contracts for the construction and installation of the Lessee Improvements and Additional Lessee Improvements respectively; all architectural, engineering, space planning and other consultants' fees; all amounts paid for mechanical drawings, plans, specifications, shop drawings, designs and layouts; and incidental costs related to the foregoing. The cost of Lessee Improvements and Additional Lessee Improvements shall not include, and Lessor shall not charge, any fees for Lessor's profit, overhead or supervision. The Lessee Improvement Allowance shall not include, and Lessee shall be responsible for, the cost to remove or alter the excess mezzanine area of the Premises. Lessee, at its option, may retain, alter, move or remove all or any portion of the mezzanine. At the expiration of the term, Lessee shall remove the mezzanine at Lessee's sole cost and expense.
Lessee Improvement Allowance. Lessee shall be entitled to a lessee improvement allowance (the "Lessee Improvement Allowance") in the amount of $7,600.00 for costs relating to the design and construction of Lessee improvements to the Premises (the "Lessee Improvements").
Lessee Improvement Allowance. Lessor shall provide to Lessee a building allowance (the "Lessee Improvement Allowance"), not to exceed $183,867.30, to be disbursed to Lessee in reimbursement of costs reasonably incurred by Lessee in the design and construction of improvements in the Premises in accordance with plans and specifications reasonably approved by Lessor (the "Approved Plans"). Provided that such improvements shall have been completed substantially in accordance with the Approved Plans, as reasonably determined by Lessor, Lessor shall disburse the Lessee Improvement Allowance to Lessee one time only, 30 days following the date on which Lessee commences its ordinary business operations in the Premises, upon receipt by Lessor of invoices and other evidence in form and substance reasonably satisfactory to Lessor in support of the performance of the work and the payment therefor by Lessee, together with appropriate lien releases. Lessor shall have no obligation to make any disbursement of the Lessee Improvement Allowance after December 31, 1998.
Lessee Improvement Allowance. Lessor shall provide a lessee improvement allowance (the “Allowance”) in the amount of One Million One Hundred Sixty-Five Thousand Eight Hundred and Sixty Dollars ($1,165,860) to be used by Lessee solely for retrofitting the Premises pursuant to those certain plans and specifications therefor dated 4/13/05, as such plans and specifications are ultimately approved as the Final Space Plan (as defined below). The Allowance shall be used towards the costs of Lessee Improvement Allowance Items (defined below) and Lessor shall be under no obligation to fund costs relating to equipment, including, without limitation, screening or viewing equipment, trade fixtures, moving expenses and other personal property, but costs for telecommunications, security, data, alarm systems and equipment which is an integral part thereof (and wiring and cabling therefore) shall be included in Lessee Improvement Allowance Items. In no event shall Lessor be obligated to make disbursements of Lessor’s funds pursuant to this Work Letter in a total amount which exceeds the cost of the Lessee Improvement Allowance Items. All such improvements shall be subject to all of the terms of this Exhibit E. The Allowance must be used on or before June 30, 2006 or any unused portion of the Allowance shall be waived and forfeit as to Lessee. Also, if the actual cost of such improvements is less than the amount of the Allowance, the unused portion of the Allowance shall be forfeited by Lessee.
Lessee Improvement Allowance. Lessee shall be solely responsible for payment on a timely, lien-free basis the entire Lessee Improvement Costs; provided, however, that Lessor shall contribute for the benefit of Lessee an allowance of up to, but not exceeding, one hundred twenty-five thousand dollars ($125,000.00) (the “Lessee Improvement Allowance”) to pay the Lessee Improvement Costs. The Lessee Improvement Allowance shall be disbursed in the manner described in Paragraph 2.3, below, and shall be used solely to assist Lessee in the payment of the Lessee Improvement Costs. All items of Lessee Improvements, whether or not the cost thereof is covered by the Lessee Improvement Allowance, shall become the property of Lessor upon their installation in the Premises and shall remain on the Premises at all times during and upon expiration of the Term.
Lessee Improvement Allowance. The Base Monthly Rent set forth in Paragraph 1.5 of the Lease and Insert 2 of the Addendum is predicated upon a base Lessee Improvement Allowance to be provided by Lessor of Twenty Dollars ($20) per square foot, or a total base Lessee Improvement Allowance of $612,000 (30,600 square feet x $20). Lessor has also agreed (1) that no less than $550,800 (30,600 square feet x $18) shall be contributed by Lessor as the minimum Lessee Improvement Allowance and (2) that Lessor shall contribute up to a maximum amount of $765,000 as the maximum Lessee Improvement Allowance (30,600 square feet x $25). The Base Monthly Rent shall be adjusted in accordance with Paragraph 8(d) of this Work Letter if the amount of the Lessee Improvement Allowance actually spent is less than or greater than $612,000. If construction of any Lessee Interior Improvements is deferred, Lessor and Lessee shall mutually agree on the timing of subsequent construction. To the extent that the total Improvements Costs initially equal less than $765,000, then the unused portion of that amount shall be made available to Lessee for future improvements during the Lease term with adjustments to be made at that time in Base Monthly Rent as provided in Paragraph 8(d) of this Work Letter.
