Common use of LESSOR'S WORK Clause in Contracts

LESSOR'S WORK. Lessee confirms that its current information technology needs are serviced by that certain IT room located on the third floor of the Building (the “Existing IT Room”) servicing both Lessee and the third floor tenant of the Building; the Existing IT Room constitutes a Common Area; and all costs associated with the maintenance, repair and operation of the Existing IT Room now constitute an Operating Expense (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”, which generally comprises the “splitting out” of the information technology portion of the Existing IT Room that currently services the Premises and its relocation to a new room (the “New IT Room”) to be constructed within the Premises. Lessee shall perform Lessor’s Work at Lessor’s sole cost. Lessor’s Work shall be as more particularly described in: (a) that certain Southland Industries Work Authorization Form dated August 5, 2011; (b) that certain proposal dated September 29, 2011 from Vector Resources addressed to Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July 30, 2011 from LCS Constructors Inc. to Lessee, and (d) online specifications for an OptiPlex Dell computer, all of which Lessee hereby accepts and approves. The New IT Room shall be of a size and in a location as shall be reasonable and practicable. Except for the performance of Lessor’s Work, Lessee shall accept the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation to perform any work or to provide any allowance in lieu thereof (except for the abated Base Rent as set forth above). Lessee shall advise the Lessor of any changes to the expected cost to complete the Lessor’s Work (which is currently estimated at $33,000) and shall obtain approval for any material cost increases over the original cost projections, (all of which shall be borne by Lessor). If approved costs are paid directly by the Lessee, appropriate invoices and evidence of payment shall be submitted to the Lessor and reimbursement shall be paid to Lessee within ten (10) days of receipt by Lessor. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty (20) days following a second written request from Lessee, Lessee shall have an offset right against Base Rent to the extent of any unpaid reimbursement amounts, provided that in no event shall the rental offset in any month exceed fifty percent (50%) of such month’s Base

Appears in 2 contracts

Samples: Standard Office Lease (Xencor Inc), Standard Office Lease (Xencor Inc)

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LESSOR'S WORK. Lessee confirms that On or before the Commencement Date Lessor, at its current information technology needs are serviced by that certain IT room located on sole cost, shall complete the third floor preparation of the Building (Premises for the “Existing IT Room”) servicing both Lessee and the third floor tenant occupancy needs of the Building; the Existing IT Room constitutes Tenant, expressly identified and attached hereto as Exhibit “B” and made a Common Area; and all costs associated with the maintenance, repair and operation of the Existing IT Room now constitute an Operating Expense part hereof by this reference (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”, which generally comprises the “splitting out” of the information technology portion of the Existing IT Room that currently services ). Lessor shall deliver the Premises and its relocation to a new room (Tenant in satisfaction of all the “New IT Room”) to be constructed within the Premises. Lessee shall perform following conditions: Lessor’s Work at Lessorand the Premises are substantially complete in accordance with this Lease; the Premises satisfies all applicable building codes then in effect relating to Landlord’s sole cost. Lessor’s Work shall be as more particularly described in: (a) that certain Southland Industries Work Authorization Form dated August 5, 2011Work; (b) that certain proposal dated September 29, 2011 from Vector Resources addressed to Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July 30, 2011 from LCS Constructors Inc. to Lessee, and (d) online specifications the Premises is in suitable condition for an OptiPlex Dell computer, all of which Lessee hereby accepts and approves. The New IT Room shall be occupancy with the receipt of a size valid certificate of occupancy, or its equivalent, if applicable, allowing Tenant to conduct its business at the Premises; upon receipt of an approval letter from the State Fire Xxxxxxxx, if applicable; and in a location as shall be reasonable and practicable. Except for the performance upon acceptance of Lessor’s Work, Lessee shall accept the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation to perform any work or to provide any allowance in lieu thereof (except for the abated Base Rent as set forth above). Lessee shall advise the Lessor of any changes to the expected cost to complete the Lessor’s Work (which is currently estimated at $33,000) and shall obtain approval for any material cost increases over the original cost projections, (all of which shall be borne by Lessor). If approved costs are paid directly writing by the Lessee. Tenant must accept or reject the Premises, appropriate invoices and evidence of payment shall be submitted to the Lessor and reimbursement shall be paid to Lessee in writing, within ten (10) days of Tenant’s receipt by Lessorof a valid certificate of occupancy. Upon acceptance and receipt of Xxxxxx’s work not to exceed $ invoice, Tenant shall reimburse the full cost of Xxxxxx’s Work to Lessor included with the first month’s Base Rent. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty does not receive any written notice from Tenant regarding its acceptance or rejection of the Premises within ten (2010) days following of its receipt of a second written request from Lesseevalid certificate of occupancy, Lessee then the Premises shall be deemed accepted by Tenant. In the event the date on which Xxxxxx delivers the Premises to Tenant after the Commencement Date, said delivery of the Premises under this Section shall have an offset right against Base Rent no effect on the definition of Commencement Date and shall not change the Term as specified under Section 2 above. All of Landlord’s Work will be in compliance with Fire Xxxxxxxx Regulations, Americans with Disabilities Act of 1990, and all other building codes and industry standards as required by local, State and Federal codes and the authority having jurisdiction. The contractor and any sub- contractors shall pay the higher of the U.S. Department of Labor minimum wage rates or the West Virginia Department of Labor wage rates as established for the County in which the work is being performed pursuant to the extent of any unpaid reimbursement amountsWest Virginia Code § 21-5A-1, provided that in no event shall the rental offset in any month exceed fifty percent (50%) of such month’s Baseet seq.

Appears in 1 contract

Samples: Contract of Lease

LESSOR'S WORK. Lessee confirms that On or before the Commencement Date Lessor, at its current information technology needs are serviced by that certain IT room located on sole cost, shall complete the third floor preparation of the Building (Premises for the “Existing IT Room”) servicing both Lessee and the third floor tenant occupancy needs of the Building; the Existing IT Room constitutes Tenant, expressly identified and attached hereto as Exhibit “B” and made a Common Area; and all costs associated with the maintenance, repair and operation of the Existing IT Room now constitute an Operating Expense part hereof by this reference (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”, which generally comprises the “splitting out” of the information technology portion of the Existing IT Room that currently services ). Lessor shall deliver the Premises and its relocation to a new room (Tenant in satisfaction of all the “New IT Room”) to be constructed within the Premises. Lessee shall perform following conditions: Lessor’s Work at Lessorand the Premises are substantially complete in accordance with this Lease; the Premises satisfies all applicable building codes then in effect relating to Landlord’s sole cost. Lessor’s Work shall be as more particularly described in: (a) that certain Southland Industries Work Authorization Form dated August 5, 2011Work; (b) that certain proposal dated September 29, 2011 from Vector Resources addressed to Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July 30, 2011 from LCS Constructors Inc. to Lessee, and (d) online specifications the Premises is in suitable condition for an OptiPlex Dell computer, all of which Lessee hereby accepts and approves. The New IT Room shall be occupancy with the receipt of a size valid certificate of occupancy, or its equivalent, if applicable, allowing Tenant to conduct its business at the Premises; upon receipt of an approval letter from the State Fire Xxxxxxxx, if applicable; and in a location as shall be reasonable and practicable. Except for the performance upon acceptance of Lessor’s Work, Lessee shall accept the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation to perform any work or to provide any allowance in lieu thereof (except for the abated Base Rent as set forth above). Lessee shall advise the Lessor of any changes to the expected cost to complete the Lessor’s Work (which is currently estimated at $33,000) and shall obtain approval for any material cost increases over the original cost projections, (all of which shall be borne by Lessor). If approved costs are paid directly writing by the Lessee. Tenant must accept or reject the Premises, appropriate invoices and evidence of payment shall be submitted to the Lessor and reimbursement shall be paid to Lessee in writing, within ten (10) days of Tenant’s receipt by of a valid certificate of occupancy. Upon acceptance and receipt of Lessor’s work not to exceed $ invoice, Tenant shall reimburse the full cost of Lessor’s W ork to Lessor included with the first month’s Base Rent. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty does not receive any written notice from Tenant regarding its acceptance or rejection of the Premises within ten (2010) days following of its receipt of a second written request from Lesseevalid certificate of occupancy, Lessee then the Premises shall be deemed accepted by Tenant. In the event the date on which Lessor delivers the Premises to Tenant after the Commencement Date, said delivery of the Premises under this Section shall have an offset right against Base Rent no effect on the definition of Commencement Date and shall not change the Term as specified under Section 2 above. All of Landlord’s Work will be in compliance with Fire Xxxxxxxx Regulations, Americans with Disabilities Act of 1990, and all other building codes and industry standards as required by local, State and Federal codes and the authority having jurisdiction. The contractor and any sub- contractors shall pay the higher of the U.S. Department of Labor minimum wage rates or the West Virginia Department of Labor wage rates as established for the County in which the work is being performed pursuant to the extent of any unpaid reimbursement amountsWest Virginia Code § 21-5A-1, provided that in no event shall the rental offset in any month exceed fifty percent (50%) of such month’s Baseet seq.

Appears in 1 contract

Samples: Contract of Lease

LESSOR'S WORK. Lessee confirms that On or before the Commencement Date Lessor, at its current information technology needs are serviced by that certain IT room located on sole cost, shall complete the third floor preparation of the Building (Premises for the “Existing IT Room”) servicing both Lessee and the third floor tenant occupancy needs of the Building; the Existing IT Room constitutes Tenant, expressly identified and attached hereto as Exhibit “B” and made a Common Area; and all costs associated with the maintenance, repair and operation of the Existing IT Room now constitute an Operating Expense part hereof by this reference (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”, which generally comprises the “splitting out” of the information technology portion of the Existing IT Room that currently services ). Lessor shall deliver the Premises and its relocation to a new room (Tenant in satisfaction of all the “New IT Room”) to be constructed within the Premises. Lessee shall perform following conditions: Lessor’s Work at Lessorand the Premises are substantially complete in accordance with this Lease; the Premises satisfies all applicable building codes then in effect relating to Landlord’s sole cost. Lessor’s Work shall be as more particularly described in: (a) that certain Southland Industries Work Authorization Form dated August 5, 2011Work; (b) that certain proposal dated September 29, 2011 from Vector Resources addressed to Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July 30, 2011 from LCS Constructors Inc. to Lessee, and (d) online specifications the Premises is in suitable condition for an OptiPlex Dell computer, all of which Lessee hereby accepts and approves. The New IT Room shall be occupancy with the receipt of a size valid certificate of occupancy, or its equivalent, if applicable, allowing Tenant to conduct its business at the Premises; upon receipt of an approval letter from the State Fire Xxxxxxxx, if applicable; and in a location as shall be reasonable and practicable. Except for the performance upon acceptance of Lessor’s Work, Lessee shall accept the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation to perform any work or to provide any allowance in lieu thereof (except for the abated Base Rent as set forth above). Lessee shall advise the Lessor of any changes to the expected cost to complete the Lessor’s Work (which is currently estimated at $33,000) and shall obtain approval for any material cost increases over the original cost projections, (all of which shall be borne by Lessor). If approved costs are paid directly writing by the Lessee. Tenant must accept or reject the Premises, appropriate invoices and evidence of payment shall be submitted to the Lessor and reimbursement shall be paid to Lessee in writing, within ten (10) days of Tenant’s receipt by of a valid certificate of occupancy. Upon acceptance and receipt of Lessor’s work not to exceed $ invoice, Tenant shall reimburse the full cost of Lessor’s Work to Lessor included with the first month’s Base Rent. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty does not receive any written notice from Tenant regarding its acceptance or rejection of the Premises within ten (2010) days following of its receipt of a second written request from Lesseevalid certificate of occupancy, Lessee then the Premises shall be deemed accepted by Tenant. In the event the date on which Lessor delivers the Premises to Tenant after the Commencement Date, said delivery of the Premises under this Section shall have an offset right against Base Rent no effect on the definition of Commencement Date and shall not change the Term as specified under Section 2 above. All of Landlord’s Work will be in compliance with Fire Xxxxxxxx Regulations, Americans with Disabilities Act of 1990, and all other building codes and industry standards as required by local, State and Federal codes and the authority having jurisdiction. The contractor and any sub- contractors shall pay the higher of the U.S. Department of Labor minimum wage rates or the West Virginia Department of Labor wage rates as established for the County in which the work is being performed pursuant to the extent of any unpaid reimbursement amountsWest Virginia Code § 21-5A-1, provided that in no event shall the rental offset in any month exceed fifty percent (50%) of such month’s Baseet seq.

Appears in 1 contract

Samples: Contract of Lease

LESSOR'S WORK. Lessee confirms that Lessor at its current information technology needs are serviced by that certain IT room located sole cost and expense shall make the following improvements to the Expansion Premises, Existing Premises, or the Project, as the case may be: (a) enclose and expand the office area portion on the third first floor of the Building Existing Premises as depicted on Exhibit B, including eliminating the hallway and widening the door opening as shown thereon, (b) install two (2) new restrooms totaling approximately 170 square feet in the Expansion Premises as depicted on Exhibit A, providing a women’s restroom with 2-toilets and a men’s restroom with 1-toilet and 1-urinal, (c) demolish and remove the existing demising wall between the Existing IT Room”) servicing both Lessee Premises and the third floor tenant of Expansion Premises as depicted on Exhibit A and relocate utilities therein, if applicable, (d) install a new demising wall as depicted on Exhibit A, (e) relocate the Building; fence in the Existing IT Room constitutes a Common Area; truck court as depicted on Exhibit A, and all costs associated with (f) repair or replace (as appropriate) the maintenancemotor on the security gate serving the Premises (collectively, repair and operation of the Existing IT Room now constitute an Operating Expense (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”). Except for Lessor’s Work and the Improvements and except as expressly set forth in this Amendment, which generally comprises the “splitting out” of the information technology portion of the Existing IT Room that currently services the Expansion Premises and its relocation to a new room (the “New IT Room”) to shall be constructed within the Premisesdelivered in it AS-IS condition. Lessee Lessor shall perform Lessor’s Work in a good and workmanlike manner, in compliance with all Applicable Requirements, and, subject to Lessee Delays, shall Substantially Complete Lessor’s Work on or before January 1, 2021. Lessor warrants that, except for damages caused by Lessee or its agents or contractors, the existing electrical, plumbing, fire sprinkler, lighting, loading doors, man doors, and all other elements in the Expansion Premises, other than those constructed by Lessee, shall be in good operating condition on the Premises Modification Date, that the structural elements of the roof, bearing walls and foundation of the Expansion Premises shall be free of material defects, and that the Expansion Premises do not contain hazardous levels of any mold or fungi defined as toxic under applicable state or federal law. If any non-compliance with such warranty exists on the Premises Modification Date, or if one of such systems or elements should malfunction or fail within the appropriate warranty period, Lessor shall, as Lessor’s sole obligation with respect to such matter, except as otherwise provided in the Lease or this Amendment, promptly after receipt of written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, malfunction or failure, rectify same at Lessor’s sole costexpense. The warranty periods shall be six (6) months as to the systems and other elements of the Expansion Premises, excluding HVAC systems, heating, and sump pumps, if any. If Lessee gives Lessor written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, malfunction or failure within the appropriate warranty period, Lessor shall cause its contractor to perform warranty-related work required under its contract with Lessor (including, for the avoidance of doubt, with respect to Lessor’s Work and the Improvements). If Lessee does not give Lessor the required notice within the appropriate warranty period, correction of any such non-compliance, malfunction or failure shall be as more particularly described in: (a) that certain Southland Industries Work Authorization Form dated August 5, 2011; (b) that certain proposal dated September 29, 2011 from Vector Resources addressed to the obligation of Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July 30, 2011 from LCS Constructors Inc. to at Lessee, ’s sole cost and (d) online specifications for an OptiPlex Dell computer, all of which Lessee hereby accepts and approves. The New IT Room shall be of a size and in a location as shall be reasonable and practicable. Except for the performance of Lessor’s Work, Lessee shall accept the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation to perform any work or to provide any allowance in lieu thereof expense (except for the abated Base Rent repairs to the fire sprinkler systems, roof, foundations, and/or bearing walls, which shall be performed and paid for in accordance with the Lease, including, without limitation, Paragraph 7). Lessor also warrants, that unless otherwise specified in writing, Lessor is unaware of (i) any recorded Notices of Default affecting the Expansion Premises; (ii) any delinquent amounts due under any loan secured by the Expansion Premises; and (iii) any bankruptcy proceeding affecting the Premises. Lessor warrants that to the best of its knowledge the improvements on the Expansion Premises will comply with the Applicable Requirements in effect on the Premises Modification Date. Said warranty does not apply to the specific and unique use to which Lessee will put the Expansion Premises, modification which may be required by the Americans with Disabilities Act or any similar laws as set a result of Lessee’s specific and unique use (see Paragraph 49 of the Lease), or to any Alterations or Utility Installations made or to be made by Lessee. If the Expansion Premises do not comply with said warranty, Lessor shall, except as otherwise provided, promptly after receipt of written notice from Lessee setting forth above)with specificity the nature and extent of such non-compliance, rectify the same at Lessor’s expense. If Lessee does not give Lessor written notice of non-compliance with this warranty within twelve (12) months following the Premises Modification Date, correction of that non-compliance shall be the obligation of Lessee at Lessee’s sole cost and expense. If the Applicable Requirements are hereafter changed so as to require during the term of the Lease a Capital Expenditure, it shall be allocated between Lessor and Lessee in accordance with Paragraph 2.3 of the Lease. Lessor shall retain the responsibility and pay for any investigations or remediation measures required by governmental entitles having jurisdiction with respect to the existence of Hazardous Substances on the Expansion Premises prior to the Premises Modification Date, unless such remediation measure is required as a result of Lessee's specific and unique use (including "Alterations", as defined in paragraph 7.3(a) below) of the Premises, in which event Lessee shall be responsible for such payment. Lessee shall advise cooperate fully in any such activities at the request of Lessor, including allowing Lessor of any changes and Lessor's agents to have reasonable access to the expected cost Expansion Premises at reasonable times in order to complete the carry out Lessor’s Work (which is currently estimated at $33,000) 's investigative and shall obtain approval for any material cost increases over the original cost projections, (all of which shall be borne by Lessor). If approved costs are paid directly by the Lessee, appropriate invoices and evidence of payment shall be submitted to the Lessor and reimbursement shall be paid to Lessee within ten (10) days of receipt by Lessor. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty (20) days following a second written request from Lessee, Lessee shall have an offset right against Base Rent to the extent of any unpaid reimbursement amounts, provided that in no event shall the rental offset in any month exceed fifty percent (50%) of such month’s Baseremedial responsibilities.

Appears in 1 contract

Samples: Lease (e.l.f. Beauty, Inc.)

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LESSOR'S WORK. Lessee confirms that Lessor shall, at its current information technology needs are serviced by that certain IT room located on sole cost and expense, perform the third floor work described in Attachments A-1 and A-2 to this Workletter (collectively, "Lessor's Work") with respect to the Office Space. Lessor shall commence Lessor's Work following execution and delivery of the Building Lease and this Workletter and proceed with the same in order to substantially complete that portion of Lessor's Work described on Attachment A-1 (the “Existing IT Room”"Initial Base Building Work") servicing both Lessee on or before December 1, 1995 (the "Projected Delivery Date") and the third floor tenant of the Building; the Existing IT Room constitutes a Common Area; and all costs associated with the maintenance, repair and operation of the Existing IT Room now constitute an Operating Expense (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”, which generally comprises the “splitting out” of the information technology substantially complete that portion of the Existing IT Room that currently services the Premises and its relocation to a new room Lessor's Work described on Attachment A-2 (the “New IT Room”"Remaining Base Building Work") to be constructed within on or before the Premises. Lessee shall perform Lessor’s Work at Lessor’s sole cost. Lessor’s Work shall be as more particularly described in: (a) Commencement Date, provided that certain Southland Industries Work Authorization Form dated August 5, 2011; (b) that certain proposal dated September 29, 2011 from Vector Resources addressed to Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July 30, 2011 from LCS Constructors Inc. to Lessee, and (d) online specifications for an OptiPlex Dell computer, all of which Lessee hereby accepts and approves. The New IT Room shall be of a size and in a location as shall be reasonable and practicable. Except for the performance of Lessor’s Work, Lessee shall accept the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation liability for failure to perform any work substantially complete on or before the applicable date required hereinabove or to provide any allowance in lieu thereof (except for tender the abated Base Rent as set forth above). Lessee shall advise the Lessor of any changes to the expected cost to complete the Lessor’s Work (which is currently estimated at $33,000) and shall obtain approval for any material cost increases over the original cost projections, (all of which shall be borne by Lessor). If approved costs are paid directly by the Lessee, appropriate invoices and evidence of payment shall be submitted to the Lessor and reimbursement shall be paid Office Space to Lessee within ten (10) days of receipt by Lessor. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty (20) days following a second written request from Lessee, Lessee shall have an offset right against Base Rent on or before the Projected Delivery Date except to the extent expressly provided in this Workletter or the Lease. For purposes hereof, (a) the Initial Base Building Work shall be deemed to be "substantially complete" if the same is complete to the extent necessary for Lessee to commence construction of Lessee's Work and the Office Space is free of rubbish and debris and in broom clean condition, and (b) the Remaining Base Building Work shall be deemed to be "substantially complete" if the same is complete to the extent necessary for Lessee to occupy the Office Space for purposes of conducting its business therein. Lessor's Work shall be performed in a good and workmanlike manner, using new, high-quality materials, and in compliance with all applicable laws, ordinances and governmental rules and regulations and shall meet or exceed the standards for construction and quality of materials of first-class office buildings in downtown Chicago. Lessor's general contractor and all subcontractors which Lessor or its general contractor uses in the construction of Lessor's Work shall be qualified, insured contractors who are capable of working in harmony with the contractors for Lessee's Work (as hereinafter defined). Notwithstanding anything set forth in this Workletter to the contrary, Lessor shall be responsible for complying with (i) any unpaid reimbursement amountslaw, provided that ordinance, regulation or requirements in no event shall effect as of the rental offset date hereof relating to the removal or handling of asbestos as they apply to the asbestos in any month exceed fifty percent the rentable areas of the Office Space to be removed as part of the Lessor's Work, and (50%ii) the Americans with Disabilities Act, as it is in effect as of such month’s Basethe date hereof, as it applies to the installation of the unisex washroom in the Office Space as part of the Lessor's Work.

Appears in 1 contract

Samples: Sublease Agreement (Web Street Inc //)

LESSOR'S WORK. Lessee confirms that its current information technology needs are serviced by that certain IT room located on the third floor of the Building (the “Existing IT Room”) servicing both Lessee and the third floor tenant of the Building; the Existing IT Room constitutes a Common Area; and all costs associated with the maintenanceLessor, repair and operation of the Existing IT Room now constitute an Operating Expense (hereinafter, “Lessee’s IT Room Payment Obligations”). Lessee shall perform “Lessor’s Work”, which generally comprises the “splitting out” of the information technology portion of the Existing IT Room that currently services the Premises and its relocation to a new room (the “New IT Room”) to be constructed within the Premises. Lessee shall perform Lessor’s Work at Lessor’s sole costcost and expense, shall provide a Tenant Improvement Allowance in the amount of $20,000.00 (the “Tenant Improvement Allowance”). The Tenant Improvement Allowance may be used for any and all costs related to the improvement of the Premises or Common Areas as approved by Lessor or as recommended or required by Applicable Requirements. Lessee shall use Lessor’s Work contractor and shall submit all plans and designs for the improvements to Lessor for approval which shall not be as more particularly described in: (a) that certain Southland Industries Work Authorization Form dated August 5unreasonably withheld. The Tenant Improvement Allowance shall not be used for furniture, 2011; (b) that certain proposal dated September 29equipment, 2011 from Vector Resources addressed data cabling, or any other item considered to Lessee under cover of letter dated October 3, 2011; (c) that certain letter dated July be Lessee’s personal property. On or before June 30, 2011 from LCS Constructors Inc. 2021, Lessee must submit to LesseeLessor all receipts, lien releases, proof of payments, and (d) online specifications for an OptiPlex Dell computerany other necessary paperwork requested by Lessor, all of which Lessee hereby accepts and approves. The New IT Room shall be of a size and in a location as shall be reasonable and practicable. Except along with written notice requesting reimbursement for the performance Tenant Improvement Allowance. Lessor will reimburse Lessee within thirty (30) days of Lessor’s Workreceipt of such notice and all documentation referenced above for actual expenses incurred, Lessee shall accept not to exceed the Premises in their then “as is” physical condition as of the New Effective Date and Lessor shall have no obligation to perform any work or to provide any allowance in lieu thereof (except for the abated Base Rent as set forth above)Tenant Improvement Allowance. Lessee shall advise the Lessor of any changes to the expected cost to complete the not commence Tenant Improvements without Lessor’s Work (which is currently estimated at $33,000) and shall obtain approval for any material cost increases over written consent of the original cost projections, (all of alterations which shall not be borne by Lessor)unreasonably withheld or delayed. If approved costs are paid directly by the Lessee, appropriate invoices and evidence of payment Lessor shall be submitted to the Lessor and reimbursement shall be paid to inform Lessee that consent has been granted or denied within ten (10) days of Lessor’s receipt of the plans and designs for the improvements required under this Paragraph 4. Lessor agrees that any Tenant Improvement Allowance granted under the lease at 000 Xxxxxxxxx Xxxxxxx, Xxxxxx 00-00 may be used interchangeably by Lessor. If Lessor fails to timely reimburse Lessee and such failure continues for more than twenty (20) days following a second written request from Lesseethe improvement of the Premises at 000 Xxxxxxxxx Xxxxxxx, Lessee shall have an offset right against Base Rent to the extent of any unpaid reimbursement amounts, provided that in no event shall the rental offset in any month exceed fifty percent (50%) of such month’s BaseXxxxx 00.

Appears in 1 contract

Samples: Lease (Artius Acquisition Inc.)

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