Payment of Excess Costs. (1) If Improvement Costs for the Interior Improvements exceed the Interior Improvement Allowance, Tenant shall pay the cost in excess of the Interior Improvement Allowance ("Tenant's Contribution") in installments, with each installment to be paid within five (5) days after Landlord notifies Tenant in writing that a progress payment toward the Interior Improvements is to be made, and the installment due shall be an amount which bears the same relationship to the amount of the Improvement Costs for the Interior Improvements that are to be paid, as Tenant's Contribution bears to the total of all estimated Improvement Costs for the Interior Improvements. Notwithstanding the foregoing, in no event shall Tenant be required to contribute to the Improvement Costs for the Interior Improvements any amount in excess of the Final Cost Estimate for the Interior Improvements (plus any increases in cost approved by Tenant pursuant to the change order procedure provided for in paragraph 8 of this Agreement).
Payment of Excess Costs. Within fifteen days of Landlord’s request, Tenant shall pay to Landlord that portion of the Excess Costs payable with respect to each construction draw presented by Landlord’s contractor based on the percentage that the Excess Costs bear to the total cost of Landlord’s Work. Notwithstanding the foregoing, if the amount of the Excess Costs changes as a result of a change order, Tenant shall pay such increased amount within ten business days of receipt by Tenant of an invoice, together with reasonable supporting documentation, for such increased costs.
Payment of Excess Costs. Within five days of Landlord’s request (which request shall include reasonable backup documentation), Tenant shall pay to Landlord that portion of the Excess Costs payable with respect to each construction draw presented by Landlord’s contractor based on the percentage that the Excess Costs bear to the total cost of Landlord’s Work. Notwithstanding the foregoing, if the amount of the Excess Costs changes as a result of a change order. Tenant shall pay such increased amount within ten (10) days of receipt by Tenant of an invoice, together with reasonable supporting documentation, for such increased costs. Notwithstanding the foregoing, Landlord shall pay (i) the cost of the new entry to the Premises at the existing storefront to the extent such cost is in excess of what the typical interior glass entry system costs and (ii) the cost of the underground sawcutting/trenching/concrete work for the two bathrooms.
Payment of Excess Costs. The Excess Costs shall be paid by Tenant to Landlord in monthly installments within five (5) days following Landlord's delivery to Tenant of (i) periodic draw requests substantially in accordance with applicable AIA draw forms, requesting payment for work performed by the Contractor in accordance with the Contract Documents, which draw requests shall be signed by Contractor and approved by Michxxx Xxxxxxxxx xx Insite Architects ("Architect"); and (ii) lien waivers signed by the general contractor and from any major subcontractors (i.e. subcontractors performing work costing in excess of $15,000.00 during the period covered by the draw request) covering all work performed and materials delivered prior to the date of the draw request. Periodic draw requests pursuant to this First Amendment shall be made as soon as reasonably possible following Landlord's receipt of draw requests from the Contractor for payment of the Tenant Improvements, and the amount of each draw request for funds to be advanced under this First Amendment shall be based upon the proportion that the work completed as of the effective date of the draw request bears to the total work covered by the construction contract, subject to any retainages required by the construction contract. When Landlord desires to receive a disbursement from Tenant, Landlord shall deliver to Tenant a written request for disbursement together with the draw request and other documents described above ("Disbursement Request"). Within five (5) days following the date that Landlord delivers the Disbursement Request to Tenant, Tenant shall deliver good funds to Landlord in full payment thereof. Upon final completion of the Tenant Improvements and the Contractor being entitled to full and final payment of the cost of the Tenant Improvements pursuant to the construction contract therefor, Landlord shall deliver to Tenant as a part of the documents comprising the final Disbursement Request a certificate of substantial completion in the form promulgated by the AIA signed by the Architect confirming the substantial completion of the Tenant Improvements in accordance with the Contract Documents.
Payment of Excess Costs. Refund of Unused Lessor's Allowance. As soon as practicable following Substantial Completion, Lessee and Lessee's contractor shall perform an accounting of the total costs incurred to accomplish Lessee's Work (including all costs for design, permitting, inspection and utilities). If the total cost for Lessee's Work exceeds the amount of Lessor's Allowance, then Lessee shall pay such excess. If the total cost of Lessee's Work is less than the amount of Lessor's Allowance then the following shall apply:
Payment of Excess Costs. Prior to the commencement of Landlord's Work ----------------------- and within 10 days of approval, or deemed approval, of the Excess Cost Summary by Tenant, Tenant shall pay to Landlord the Excess Costs. If the amount of the Excess Costs changes as a result of a change order, Tenant shall pay such increased amount within 10 days of receipt by Tenant of an invoice, together with reasonable supporting documentation, for such increased costs.
Payment of Excess Costs. Within thirty (30) calendar days after Substantial Completion of Tenant’s Improvements and receipt of an invoice for the Excess Costs, Tenant shall pay Landlord for the Excess Costs. All sums due Landlord under this Section c shall be considered Rent under the terms of the Lease and nonpayment shall constitute a default under the Lease and entitle Landlord to any and all remedies specified in the Lease.
Payment of Excess Costs. Any payments required by Sections 6.04 and 6.05 above and Section 7.01 below shall be paid by SELLER within fourteen (14) working days after SELLER's receipt of a written statement from PURCHASER itemizing such charges. At PURCHASER's election, such charges may be credited against amounts owed by PURCHASER to SELLER hereunder.
Payment of Excess Costs. In the event the Final Costs exceed the Allowance (such amounts exceeding the Tenant Improvement Allowance being herein referred to as the "EXCESS COSTS"), Tenant shall pay the estimated Excess Costs to Landlord within forty five (45) days after approval of the Tenant Improvement Costs. Landlord will provide Tenant with the option to amortize these Excess Costs over an approximately ten (10) year period at an interest rate of ten percent (10%) per annum. Tenant may elect such option within thirty (30) days of receipt of Landlord's invoice for Excess Costs (not to exceed $250,000.00) by written notice to Landlord. Upon such election an amendment to this Lease will be executed within thirty (30) days of Landlord's receipt of Tenant's election to document the addition of such Excess Costs to Tenant's Base Rent payments. The Excess Costs will be fully amortized over a period equal to 120 months minus the number of months (and partial months) between the Commencement Date and the date of the execution by both parties of the amendment to this Lease that documents the adjusted Base Rent payments.
Payment of Excess Costs. Notwithstanding anything to the contrary contained in Paragraph 6 of Exhibit D of the Original Lease, in lieu of paying to Landlord the Excess Costs as provided therein Tenant shall pay to Landlord the “Rounded Excess Cost Amount” (defined below) in five (5) equal monthly installments on or before the 15th day of December, 2005, January, February, March and April, 2006 (the “Monthly Installments”). No later than April 30, 2006, Landlord shall furnish Tenant with an updated calculation of the Excess Costs, and (a) if the Rounded Excess Cost Amount exceeds the actual Excess Costs, then Landlord shall refund such difference to Tenant no later than May 15, 2006, and (ii) if the Rounded Excess Cost Amount is less than the actual Excess Costs, then Tenant shall pay such difference to Landlord no later than May 15, 2006. Landlord and Tenant acknowledge and agree that a further final reconciliation may be required if not all costs of the Work are available by April 30, 2006. The “Rounded Excess Cost Amount” shall be the amount of the Excess Cost (based upon Landlord’s estimate of the cost of Landlord’s Work on November 18, 2005) rounded to the nearest $100,000.00. If the scope of the Landlord’s Work shall be changed pursuant to the Work Letter such that the Excess Costs shall be increased or decreased by more than $250,000, then the Rounded Excess Cost Amount shall be modified accordingly, and the unpaid Monthly Installments shall also be modified so that the total of such Monthly Installments do not exceed the adjusted Rounded Excess Cost Amount.
