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. (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).
(2) If it is estimated that Tenant will be required to make a cash contribution toward the Interior Improvement Costs based on the Final Cost Estimates for the Interior Improvements, such amount must be placed in escrow or made available in the form of a letter of credit. During the course of construction, Tenant shall contribute to each progress payment its pro rata share of the amount due for the Interior Improvements in question.
(3) If the Interior Improvement Allowance is not fully utilized in accordance with the foregoing, the balance of any such allowance shall reduce the Base Monthly Rent otherwise due under the Lease as provided in Paragraph 3.1.D. of the Lease.
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. (a) Lessor shall pay for the Improvement Costs upon presentation of invoices therefor from the person(s) performing the work or rendering the services and such supporting documentation as Lessor may reasonably request in connection therewith. Any invoice presented to Lessor for payment for other than Improvement Costs (except as otherwise set forth herein), and initiated by, or at the request of, Lessee, shall be paid by Lessee within thirty (30) days of presentation of invoices therefor by Lessor or from the person(s) performing the work or rendering the services. Lessor may, but shall not be obligated to, upon written notice to Lessee, pay any such invoice and the same shall be deemed an Excess Cost (as that term is hereinafter defined) under this Work Letter. Subject to the foregoing, any default by Lessee in payment of invoices for work that is not included in Improvement Costs shall constitute an Event of Default by Lessee under the Lease, entitling Lessor to exercise any and all remedies available to Lessor under the Lease, at law or in equity, for nonpayment of rent, and Lessor shall be entitled to cease all work on the construction of the Lessee Improvements until the default in payment is cured.
(b) Any additional costs incurred in connection with the construction of the Lessee Improvements due to changes in the scope of work of the Lessee Improvements solely requested or initiated by or at the request of Lessee (the “Excess Cost”) shall be paid by Lessee. Upon Substantial Completion, it is the intent of both parties to invoice within thirty (30) days of such Substantial Completion for any Excess Costs, if any, including any County approved change orders. Lessee shall pay Lessor no more than thirty (30) days after receipt of invoice including documentation of all actual costs. Lessor acknowledges that Lessee cannot make progress payments under California statutes. Any default in payment of the Excess Cost by Lessee shall constitute an Event of Default by Lessee under the Lease, entitling Lessor to exercise any and all remedies available to Lessor under the Lease, at law or in equity, for nonpayment of rent, and Lessor shall be entitled to cease all work on the construction of the Lessee Improvements until the default in payment is cured.
Payment of Excess Costs. Landlord shall submit to Tenant, no more frequently than monthly, a copy of the General Contractor’s applications for payment of portions of the costs of Landlord’s Work, together with all supporting documentation submitted by the General Contractor with such application for payment and a written invoice from Landlord stating Tenant’s Share (as hereinafter defined). Within 15 business days after receiving such application for payment, supporting documentation and invoice, Tenant shall pay Tenant’s Share to Landlord. Tenant’s Share with respect to each application for payment shall be an amount equal to the Excess Cost Percentage (as hereinafter defined) of the portion of Landlord’s Construction Costs payable under such application for payment, less a sum equal to five percent of such amount to be retained by Tenant until final completion of Landlord’s Work (the total of such retained sums being the “Retained Sum”). Notwithstanding any other provision of this Work Letter or the Lease, Tenant shall have no obligation to pay amounts in excess of the Excess Costs nor any right to retain sums in excess of five percent of the Excess Costs. The “Excess Cost Percentage” shall be the ratio, from time to time, of the Excess Costs to Landlord’s Construction Costs. Tenant shall pay the Retained Sum to Landlord upon final completion of Landlord’s Work and Tenant’s receipt of the General Contractor’s final application for payment.
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. If the estimated cost of any Restoration determined as provided in Section 7.2 hereof exceeds the net insurance proceeds then, prior to the commencement of any Restoration, Tenant hereby covenants to deposit with Landlord, a bond, cash or other security satisfactory to Landlord (in its sole and absolute discretion) in the amount of ten percent (10%) of such excess, to be held and applied by Landlord in accordance with the provisions of Section 7.2 hereof, as security for the completion of the work, free of public improvement, vendors’, mechanics’, laborers’ or materialmen’s statutory or other similar liens.
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. 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. 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.
