Payment of Construction Allowance Sample Clauses

Payment of Construction Allowance. The Allowance shall be payable by Lessor to Lessee on a progress payment basis. In connection with each request for payment, Lessee shall submit to Lessor a detailed requisition request reasonably satisfactory to Lessor (each, a “Requisition Request”). Each disbursement to Lessee shall be made within thirty (30) days after Lessee has delivered to Lessor evidence of the completion of the Leasehold Improvements (or any portion thereof) pursuant to the Approved Plans and shall be in an amount equal to the substantiated amount of the expense paid or incurred by Lessee with respect to the Work Cost. Lessor shall not be obligated to pay any portion of the Allowance to Lessee if Lessee is in default of any of its obligations under this Lease. In no event shall Lessor be responsible for any sums in excess of the Allowance, and as a result, after Lessor has disbursed the full amount of the Allowance, Lessee shall be financially responsible for all remaining construction expenses for its Leasehold Improvements. Each Requisition Request shall be accompanied by reasonably detailed invoices and billing statements evidencing the completion of the work that is the subject of such Requisition Request. Lessee must submit all Requisition Requests on or before July 31, 2012, and Lessor shall have no obligation to pay any further monies with respect to the Leasehold Improvements after such date, excepting only any Requisitions submitted before such date.
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Payment of Construction Allowance. Payments shall be made directly to the Contractor performing the Landlord Work. Landlord shall make progress payments to the Contractor out of the Construction Allowance in 3 installments. The first installment in the amount of 1/3 of the Construction Allowance (less 10% retainage) shall be paid within 30 days after Landlord’s receipt of Contractor’s written request which has been approved by Tenant and Landlord, which request may be made after the first third of construction of the Landlord Work has been completed. The second installment in the amount of 1/3 of the Construction Allowance (less 10% retainage) shall be paid within 30 days after Landlord’s receipt of Contractor’s written request which has been approved by Tenant and Landlord, which request may be made after the second third of the construction of the Landlord Work has been completed. The final installment in the amount of the balance of the Construction Allowance due Contractor shall be paid when the requirements in Paragraph 5(b)(ii) below are fulfilled.
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Payment of Construction Allowance. (i) The term “
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Payment of Construction Allowance. 7.8.1 Tenant may draw upon the Construction Allowance to pay for labor and materials provided for the Tenant Work (and to pay Tenant's architect's and engineer's and other professional fees incurred in connection with the design and construction of the Tenant Work as provided in Section 7.3.5 if the Plans Allowance is exhausted) (herein called "Tenant's Costs") in accordance with the terms of this Section 7.8. At the time Tenant's Construction Documents are finalized, Tenant will deliver to Landlord an estimated budget reasonably detailing the anticipated Tenant's Costs. Tenant shall submit to Landlord on or before the twenty-eighth (28th) day of each month, a voucher for Tenant's Costs executed by Tenant's Construction Representative and by a partner or officer of Tenant, setting forth in reasonable detail the amount of such Tenant's Costs and identifying the material, labor, fees, and costs to which they relate. Landlord shall pay to Tenant the amount of each Tenant voucher within thirty (30) days after receipt of such voucher from Tenant. Notwithstanding anything set forth in this Section 7.8.1, any amounts held back as retainage under contracts for the Tenant Work shall not constitute a part of Tenant's Costs unless and until paid to the contractor under the terms of the subject contract.
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Payment of Construction Allowance. The Construction Allowance shall be payable by Landlord to Tenant on a progress payment basis (but not more frequently than monthly) in an amount equal to "LANDLORD'S SHARE" (defined below) of the Construction Expenses within twenty (20) days after Tenant has delivered to Landlord evidence of the completion of the Leasehold Improvements (or any portion thereof) pursuant to the Approved Plans. Prior to Landlord's payment of the full amount of the Construction Allowance, Landlord and Tenant agree that both shall make payment of their respective obligations for the Construction Expenses on an equal basis; after Landlord's disbursement of the Construction Allowance, Tenant shall be financially responsible for all remaining Construction Expenses for its Leasehold Improvements. In no event shall Landlord be responsible for any sums in excess of the Construction Allowance. In connection with each request for payment, Tenant shall submit to Landlord a detailed requisition form (reasonably satisfactory to Landlord) broken down by categories identified in the Construction Budget and signed by Tenant's Architect and Tenant's construction manager together with:
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Payment of Construction Allowance. Although Landlord and Tenant currently expect that Landlord or its affiliate will manage the performance of the Third Floor Premises Work and the Sixth Floor Premises Work, if Tenant or its agent is managing the performance of such work, then Tenant shall not become entitled to full credit for the applicable Construction Allowance until the Third Floor Premises Work or the Sixth Floor Premises Work (as the case may be) has been substantially completed and Tenant has caused to be delivered to Landlord (a) all invoices from contractors, subcontractors, and suppliers evidencing the cost of performing the Third Floor Premises Work or the Sixth Floor Premises Work (as the case may be), together with lien waivers from such parties, and a consent of the surety to the finished Third Floor Premises Work or the Sixth Floor Premises Work, as the case may be (if applicable), and (b) a certificate of occupancy from the appropriate governmental authority, if applicable to the Third Floor Premises Work or the Sixth Floor Premises Work (as the case may be), or evidence of governmental inspection and approval of the Third Floor Premises Work or the Sixth Floor Premises Work (as the case may be).
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Payment of Construction Allowance. No advance of the Construction Allowance shall be made by Landlord until Txxxxx has first paid from its own funds (and provided reasonable evidence thereof to Landlord) the amount of the Construction Allowance sought for reimbursement. Tenant shall promptly pay all contractors, vendors and suppliers as work is performed rather than waiting for Landlord to disburse the Construction Allowance. Provided Tenant has satisfied all of the conditions in Section 5 above, this Lease is in effect and Tenant is not in Default, Landlord shall reimburse Tenant for the Total Construction Costs and/or the Soft Costs from the Construction Allowance as follows: fifty percent (50%) if and when The J.X. Xxxxxxxxx Company, a Delaware corporation and its subsidiaries, satisfies all of the conditions set forth on Exhibit B-1 (collectively, the “Stabilization Event”) and fifty percent (50%) upon Tenant evidencing to Landlord’s reasonable satisfaction a Term Loan debt reduction of The J.X. Xxxxxxxxx Company, a Delaware corporation and its subsidiaries, from $449,000,000 to $275,000,000 or less (the “Debt Reduction Event”). If by the first anniversary of the Commencement Date both of the Stabilization Event and Debt Reduction Event have not occurred, but all of the other conditions to disbursement of the Construction Allowance are met, Landlord shall disburse ten percent (10%) of the Construction Allowance on each anniversary of the Commencement Date, unless sooner paid upon achievement of the Stabilization Event and Debt Reduction Event. Landlord shall not be required to disburse more than the total amount of the Construction Allowance then actually expended by Txxxxx. EXHIBIT B-1 STABILIZATION EVENTS B-3 The Stabilization Event is defined as (1) Debt to EBITDA less than or equal to 6.0 in two consecutive quarters at any point after the Commencement Date and (2) no Debt maturities greater than $50M in forward 36 month period beyond the current maturity of February 2019. Debt = Term Loan Debt (or similar replacement debt) as publicly reported, referenced in the Term Loan Payable Footnote of the J. X. Xxxxxxxxx Company’s financial statements . This Debt maturity is specific to the Term Loan Debt (or similar replacement debt). EBITDA = Adjusted EBITDA as publicly reported on a historical basis according to the Term Loan Agreement referenced in the Business Segments Section of the 10-Q Footnote 22. B-1-2 EXHIBIT B-2 LANDLORD’S PLANS B-2-1 EXHIBIT B-3 SPACE PLAN FOR INITIAL TENANT WORK...
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Payment of Construction Allowance. Based upon the applications for payment (individually, an "Application for Payment") submitted to Landlord by Tenant, Landlord will make progress payments to Tenant on account of the Construction Allowance as set out below; provided, however, Tenant may not make more than three (3) Applications for Payment prior to the final Application for Payment, and each such interim Applications for Payment must relate to constructed Work exceeding $100,000.00 in the aggregate.
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Payment of Construction Allowance. Landlord agrees to make disbursements of the Construction Allowance in accordance with and subject to the following procedures:
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Related to Payment of Construction Allowance

  • Commencement of Construction Construction of the Project will start within thirty (30) days after notification to the Developer by the Owner, or as soon thereafter as weather and ground conditions permit.

  • Construction Allowance Landlord shall provide to Tenant a construction allowance not to exceed $45.00 per rentable square foot in the Premises (the “Construction Allowance”) to be applied toward the Total Construction Costs, as adjusted for any changes to the Tenant’s Work. No advance of the Construction Allowance shall be made by Landlord until Tenant has first paid to the contractor from its own funds (and provided reasonable evidence thereof to Landlord) the anticipated Excess Amount. Thereafter, Landlord shall pay to Tenant the Construction Allowance, to be applied solely toward the remaining Total Construction Costs and not in reimbursement of the Excess Amount paid by Tenant, in multiple disbursements (but not more than once in any calendar month) following the receipt by Landlord of the following items: (i) a request for payment, (ii) final, unconditional or partial lien waivers, as the case may be, from all persons performing work or supplying or fabricating materials for the Tenant’s Work, fully executed, acknowledged and in recordable form, (iii) copies of all invoices and proof of payment of same, and (iv) the Architect’s certification that the Tenant’s Work for which reimbursement has been requested has been finally completed, including (with respect to the last application for payment only) any punch-list items, on the appropriate AIA form or another form approved by Landlord, and, with respect to the disbursement of the last 10% of the Construction Allowance: (1) the permanent certificate of occupancy issued for the Premises, (2) Tenant’s occupancy of the Premises, (3) delivery of the “as-built” plans for the Tenant’s Work as constructed (and as set forth above) to Landlord’s construction representative (set forth below), and (4) an estoppel certificate confirming such factual matters as Landlord or Landlord’s Mortgagee may reasonably request (collectively, a “Completed Application for Payment”). Landlord shall pay the amount requested in the applicable Completed Application for Payment to Tenant within 30 days following Tenant’s submission of the Completed Application for Payment. If, however, the Completed Application for Payment is incomplete or incorrect, Landlord’s payment of such request shall be deferred until 30 days following Landlord’s receipt of the corrected Completed Application for Payment. Notwithstanding anything to the contrary contained in this Exhibit, Landlord shall not be obligated to make any disbursement of the Construction Allowance during the pendency of any of the following: (A) Landlord has received written notice of any unpaid claims relating to any portion of the Tenant’s Work or materials in connection therewith, other than claims which will be paid in full from such disbursement, (B) there is an unbonded lien outstanding against the Project or the Premises or Tenant’s interest therein by reason of work done, or claimed to have been done, or materials supplied or specifically fabricated, claimed to have been supplied or specifically fabricated, to or for Tenant or the Premises, (C) the conditions to the advance of the Construction Allowance are not satisfied, or (D) an Event of Default by Tenant exists. If the Total Construction Costs for the Premises are less than the Construction Allowance, then Tenant shall not be entitled to receive payment or credit for such difference and Landlord shall retain the same. The Construction Allowance must be used (that is, the Tenant’s Work must be fully complete and the Construction Allowance disbursed) within twenty-four (24) months following the Commencement Date or shall be deemed forfeited with no further obligation by Landlord with respect thereto, time being of the essence with respect thereto. The Construction Allowance may be used in Tenant’s discretion for Tenant’s Work with no stipulation from Landlord as to how much of the Construction Allowance is allocated within the various spaces in the Premises.

  • Completion of Construction (a) For the purposes of this Agreement, the terms "

  • Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the internal laws of the State of New York.

  • General Construction Principles Words in any gender are deemed to include the other genders. The singular is deemed to include the plural and vice versa. The headings and underlined paragraph titles are for guidance only and have no significance in the interpretation of this Agreement.

  • General Construction 20.2.1. Binding Nature.............................................. 20.2.2. Entire Agreement............................................ 20.2.3. Governing Law............................................... 20.2.4. Indulgences Not Waivers..................................... 20.2.5. Titles Not to Affect Interpretation......................... 20.2.6.

  • Specific Shall Not Limit General; Construction No specific provision contained in this Note shall limit or modify any more general provision contained herein. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any person as the drafter hereof.

  • Initial Construction Landlord shall fully construct the base Building in accordance with the preliminary base building plans, including, without limitation, floor plans, elevations and site plan(s) (collectively, the "PBBP") and Base Building Outline Specifications attached hereto as Exhibits B-1 and B-2, respectively (all of such work being collectively referred to as the "Landlord's Work"). In the event of differences between the PBBP or the Landlord's Plans (as hereinafter defined) and the Base Building Outline Specifications, the Base Building Outline Specifications shall govern and control until the Landlord's Plans (as hereinafter defined) are prepared. A complete set of final base Building plans and construction drawings and specifications, such drawings and specifications to include a detail schedule of core base Building finish items such as, but not limited to, carpets, doors, hardware, ceiling grids/tiles, lavatory fixtures, light fixtures, window blinds, lobby finishes and paint/wall coverings (collectively, the "Landlord's Plans") shall be prepared by Landlord, at its sole cost and expense. Landlord and Tenant agree to work together with Landlord's architect, Symmes Maini and McKex Xxxociates, Inc. in order to achieve a design that meets the standard set forth below. Furthermore, Landlord agrees to use good faith and diligent efforts to deliver the Landlord's Plans to Tenant on or before May 1, 2000. Upon receipt, Tenant shall have seven (7) business days to comment upon the Landlord's Plans. Landlord and Tenant shall use reasonable efforts to reach agreement on the Landlord's Plans as soon thereafter as possible. In reaching agreement, Landlord and Tenant shall each approve portions of the Landlord's Plans that are in acceptable form and shall note their respective objections to the portions that are unacceptable to each of them so as to enable Landlord to continue construction and order materials in a timely manner. In the event that Landlord's Plans conform with the PBBP, but Tenant does not approve the Landlord's Plans within seven (7) business days of receipt thereof from Landlord, then the Outside Delivery Date (as hereinafter defined) shall be extended for a number of days equal to the number of Tenant Plan Delay Days, as such term is hereinafter defined. The number of Tenant Plan Delay Days are defined as and shall be calculated by determining the actual number of days as certified by Landlord and its architect that the Term Commencement Date was delayed by such Tenant's failure to approve the Landlord's Plans within the required seven (7) business days. Landlord agrees to provide Tenant with written notice of such determination, such notice to include reasonable detail describing the cause of the delay and the number of Tenant Plan Delay Days as certified by Landlord and its architect. If Tenant and Tenant's Architect (as hereinafter defined)

  • Rule of Construction The general rule of construction for interpreting a contract, which provides that the provisions of a contract should be construed against the party preparing the contract, is waived by the parties hereto. Each party acknowledges that such party was represented by separate legal counsel in this matter who participated in the preparation of this Agreement or such party had the opportunity to retain counsel to participate in the preparation of this Agreement but elected not to do so.

  • Disbursement of Tenant Improvement Allowance During the construction of the Tenant Improvements, Landlord shall make monthly disbursements of the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows.

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