Payment for Tenant Improvements. Within two (2) business days after ------------------------------- the Budget is approved by Lessor and Lessee, Lessee shall deposit Lessee's share of the amount budgeted for the entire Tenant Improvement construction schedule (together with the cost of any Tenant Improvements already made) with Lessor's construction lender to be held in an escrow account. Lessee's share is the portion of the budgeted amount not paid from the Tenant Improvement Allowance as described in the following sentence. Said construction lender shall issue payments from said account pursuant to the construction contract for the Tenant Improvements with a portion of each payment being taken from the Tenant Improvement Allowance (in the same ratio as the Tenant Improvement Allowance bears to the entire Budget total) and the balance being paid from Lessee's deposit, until the Tenant Improvement Allowance is exhausted, whereupon any remaining payments shall be made 100% by Lessee. Lessor shall manage the construction of the Tenant Improvements for a supervision fee of 4% of the Budget (as the same may change by agreement of the parties) due and payable in nine equal monthly installments beginning on the first day of the calendar month following the calendar month in which the Budget is first approved.
Payment for Tenant Improvements. (a) Landlord will provide to Tenant an allowance of Forty Dollars ($40.00) per usable square foot of the Premises (“Tenant Allowance”). Landlord and Tenant agree that the usable square foot area of the Premises is 59,038 square feet as previously measured in accordance with the “American National Standard ASNI/BOMA Z65.1-2010: Standard Method for Measuring Floor Area in Office Buildings” issued by the Building Owners and Managers Association International (“BOMA Standard”).
(b) Except as provided otherwise herein, the cost of constructing the Tenant Improvements, project management on behalf of Tenant, preparing the Space Plans and Working Drawings, Tenant’s signage permitted under the Lease, built-in furniture, cabinetry and other millwork and any communications infrastructure shall be charged against the Tenant Allowance.
(c) In the event that Tenant shall request any changes or substitutions to the Tenant Improvements after the Tenant Improvement Plans have been prepared and the Contractor’s bid for the Tenant Improvements has been accepted, any additional costs which cause the Tenant Improvements to exceed the Tenant Allowance shall be paid by Tenant, provided that Tenant approves such additional costs in writing before the work is done. If Tenant does not approve such additional costs in a timely manner, the change or substitution will not be performed.
(d) If the costs described in Paragraph 8(b) above are less than $37.50 per usable square foot in the Premises, the difference between the Tenant Allowance and such costs shall be split evenly between Landlord and Tenant. If the costs described in Paragraph 8(b) are between $37.51 and $39.99 per usable square foot, the difference between the Tenant Allowance and such costs shall belong entirely to Landlord.
(e) If the costs described in Paragraph 8(b) above are greater than $40.00 per usable square foot in the Premises, the difference between the Tenant Allowance and such costs shall be paid by Tenant. Such payment shall be made from the Tenant deposit (if any) made pursuant to Paragraph 5(b). If such deposit is insufficient (or no such deposit has been made), Tenant shall pay any amounts due within 10 days after invoice.
Payment for Tenant Improvements. The Tenant Improvement Costs shall be paid solely by Tenant as follows:
Payment for Tenant Improvements. The Tenant Improvement Costs shall be ------------------------------- paid solely by Tenant as follows:
Payment for Tenant Improvements. Lessee shall pay when due, to all third parties involved in the design, permitting, engineering and construction of same, the entire cost of the Tenant Improvements so that construction shall be complete pursuant to the approved construction schedule described in the Work Letter Agreement.
Payment for Tenant Improvements. Landlord shall pay, pursuant to the terms and conditions of the Work Letter Agreement, the cost and expense of Tenant Improvements in an amount not to exceed the Tenant Improvement Allowance. The cost and expense of any Tenant Improvements in excess of the Tenant Improvement Allowance, shall be paid by the Tenant in accordance with the provisions of the Work Letter Agreement.
Payment for Tenant Improvements. 4.1 All costs and expenses incurred for the construction of the Improvements shall be paid by the Tenant, less credit to the Tenant from the Landlord.
4.2 Any modifications or additions required to the Premises' life safety systems brought about by final schematic drawings and specifications (such as the addition and/or relocation of demising walls, sprinkler heads, exit lights, emergency lighting, firehorns, or the like) shall be a cost of the Improvements.
4.3 Tenant's Cost shall be payable as follows:
(a) Tenant shall pay to Landlord prior to the commencement of construction of the improvements, an amount equal to fifty percent (50%) of the Tenant's Costs (as then estimated by Landlord).
(b) Prior to occupancy of the Premises, Tenant shall pay to Landlord the unpaid balance (as such amount can then be reasonably estimated based on available data) of Tenant's Costs, plus any approved modifications thereto.
4.4 The amounts payable hereunder shall constitute additional rent due under the Lease and shall be due at the time specified herein. Tenant's failure to make any such payments when due shall constitute a default under the Lease, entitling Landlord to all of its remedies thereunder.
Payment for Tenant Improvements. Within ten (10) business days after the Budget is approved by Lessor and Lessee, Lessee shall deposit the entire amount (together with the cost of any Tenant Improvements already made) with Lessor’s construction lender to be held in an interest-bearing escrow account with interest being credited to Lessee. Said construction lender shall issue payments from said account pursuant to the construction contract for the Tenant Improvements, remaining payments shall be made 100% by Lessee. Lessor shall manage the construction of the Tenant Improvements for a supervision fee equal to four percent (4%) of the Budget (as the same may change by agreement of the parties) due and payable in nine equal monthly installments beginning on the first day of the calendar month following the calendar month in which the Budget is first approved.
Payment for Tenant Improvements. If payment is made directly to contractors, Tenant shall comply with Landlord’s reasonable requirements for final lien releases and waivers in connection with Tenant’s payment for work to contractors. Landlord shall not be entitled to receive an administrative or supervision fee with regard to repairs, Alterations or any other work arising from or related to this Lease except as expressly set forth herein. Tenant shall pay to Landlord, as additional rent, the reasonable costs of Landlord’s third party engineers and other third party consultants (but not Landlord’s on-site management personnel) which are reasonably required to be engaged by Landlord for review of all plans, specifications and working drawings for the Alterations, within thirty (30) days after Tenant’s receipt of invoices from Landlord together with reasonable supporting evidence.
Payment for Tenant Improvements. Landlord shall pay all costs ------------------------------- and expenses (collectively, the "TI Costs") associated with the completion of the Tenant Improvements hereunder, including without limitation the costs and expenses comprising the Tenant Improvement Allowances Items, up to a maximum aggregate amount equal to the Tenant Improvement Allowance. Tenant shall pay to Landlord the TI Costs in excess of the Tenant Improvement Allowance within five (5) days of written request by Landlord. Tenant shall not be entitled to any credit, abatement or allowance from Landlord for any portion of the Tenant Improvement Allowance not used by Tenant.
