Payment of Tenant Improvement Allowance. Landlord shall contribute up to the Tenant Improvement Allowance toward the cost of designing and constructing the Tenant Improvements. For the purposes hereof, the cost of the Tenant Improvements shall include, without limitation, all building permit fees and all preparatory work and the cost of any construction management firm hired by Tenant. The Tenant Improvement Allowance shall be paid as follows: (a) Tenant may request disbursement of the Tenant Improvement Allowance on a progress payment basis (a “Disbursement”). Any request for a Disbursement shall be accompanied by certification of the Tenant that the Tenant Improvements for which disbursement is requested have been completed (and in the case of the Final Disbursement, that all of the Tenant Improvements have been substantially completed), copies of paid invoices showing cost paid, in at least the amount requested by Tenant, as well as waivers of lien from all contractors, subcontractors or suppliers of materials to the Tenant Improvements, in form and substance satisfactory to Landlord in its reasonable discretion (which shall be final and unconditional in the case of the Final Disbursement of the Tenant Improvement Allowance hereunder (the “Final Disbursement”)). The aggregate amount of all Disbursements from time to time outstanding hereunder will not at any time will not exceed (x) the lower of (i) the Tenant Improvement Allowance or (ii) the Guaranteed Maximum Price specified in the Contract, multiplied by (y) the percentage completion of the work, determined by Landlord in Landlord’s reasonable discretion (the “Maximum Outstanding”). Upon satisfaction of the foregoing conditions, Landlord shall make any Disbursement up to the Maximum Outstanding hereunder. The Final Disbursement, which may include any amount of Retainage required to be released to the Approved Contractor, shall not be required to be made sooner than thirty (30) days following completion of the Tenant Improvements. Landlord may not deduct from the Tenant Improvement Allowance, and is not charging, any construction administration fee for the Tenant Improvements. (b) Any amount of the Tenant Improvement Allowance that is not expended by Tenant on Tenant Improvements shall be available as a credit against Monthly Base Rent up to the full remaining balance thereof.
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Samples: Lease (Marrone Bio Innovations Inc), Lease (Marrone Bio Innovations Inc)
Payment of Tenant Improvement Allowance. Landlord shall contribute up pay to --------------------------------------- Tenant from the Tenant Improvement Allowance toward monthly, as progress payments, amounts necessary to reimburse Tenant for the cost of designing and constructing the Tenant Improvements. For the purposes hereof, the cost costs of the Tenant Improvements paid or incurred by Tenant. Payment of any Tenant Improvement Allowance progress payment shall includebe made only after satisfaction of the following conditions precedent: (i) receipt of Landlord of a written request for payment of a Tenant Improvement Allowance progress payment, in form and content reasonably satisfactory to Landlord; (ii) receipt by Landlord of conditional mechanics' lien releases from the Contractor and all major subcontractors and labor suppliers (hereafter defined) (the major subcontractors and labor suppliers are collectively referred to herein as the "Subcontractors") for all work completed and materials supplied by the Contractor and the Subcontractors to be paid by the subject Tenant Improvement Allowance progress payment, conditioned only upon payment of the sum due the Contractor and the Subcontractors for such work completed and materials supplied; (iii) receipt by Landlord of any and all documentation requested by Landlord detailing the Tenant Improvement work which has been completed and the materials and supplies used, including, without limitation, invoices, bills, or statements for such work materials and supplies; (iv) completion by Landlord or Landlord's agents or any inspections of the Tenant Improvement work completed and the materials and supplies used as deemed necessary by Landlord; (v) receipt by Landlord of unconditional mechanics' lien releases from the Contractor and the Subcontractors for all building permit fees progress payments prior to the progress payments for which Tenant is requesting payment; and (vi) satisfaction of any and all preparatory work and other reasonable conditions which may be imposed by Landlord or Landlord's lender providing the cost of any construction management firm hired by Tenant. The Tenant Improvement Allowance shall be paid as follows:
(a) Tenant may request disbursement financing for the funding of the Tenant Improvement Allowance on a progress payment basis (a “Disbursement”"Lender"). Any A request for payment of a Disbursement Tenant Improvement Allowance progress payment, together with all other additional required documentation in connection therewith, shall be accompanied submitted by certification Tenant on the first (1st) business day of the Tenant that the Tenant Improvements for which disbursement is requested have been completed (and in the case of the Final Disbursement, that all of the Tenant Improvements have been substantially completed), copies of paid invoices showing cost paid, in at least the amount requested by Tenant, as well as waivers of lien from all contractors, subcontractors or suppliers of materials to the Tenant Improvements, in form and substance satisfactory to Landlord in its reasonable discretion (which shall be final and unconditional in the case of the Final Disbursement a calendar month. Payment of the Tenant Improvement Allowance hereunder (the “Final Disbursement”)). The aggregate amount of all Disbursements from time to time outstanding hereunder will not at any time will not exceed (x) the lower of (i) the Tenant Improvement Allowance or (ii) the Guaranteed Maximum Price specified in the Contract, multiplied by (y) the percentage completion of the work, determined progress payment shall be paid by Landlord in Landlord’s reasonable discretion (the “Maximum Outstanding”). Upon satisfaction of the foregoing conditions, Landlord shall make any Disbursement up to the Maximum Outstanding hereunder. The Final Disbursement, which may include any amount of Retainage required to be released to the Approved Contractor, shall not be required to be made sooner than Tenant within thirty (30) days after receipt by Landlord of Tenant's request for payment and satisfaction of all other conditions described above in this Subparagraph 6(b); provided, however, if Landlord does not, within such thirty (30) day period, receive proceeds from its loan from Lender to pay such Tenant Improvement Allowance progress payment, then Landlord shall pay such progress payment within three (3) business days after receipt of such loan proceeds from its Lender. Notwithstanding the foregoing to the contrary, Landlord shall be entitled to withhold and retain from each Tenant Improvement Allowance progress payment ten percent (10%) of such Tenant Improvement Allowance progress payment amount until thirty (30) days after the last of the following completion has occurred: (x) the last of the matters described in Subparagraphs 5(h)(i) through (vi) above has occurred; and (y) the Usable Square Footage of the Building has been calculated as provided for in Subparagraph 2(d) of the Lease. Further notwithstanding the foregoing to the contrary, Landlord shall not be obligated to pay any Tenant Improvement Allowance progress payment or the Tenant Improvement Allowance retention if on the date Tenant is entitled to receive any such Tenant Improvement Allowance progress payment or the Tenant Improvement Allowance retention Tenant is in default under this Work Letter Agreement or the Lease. For purposes of this Subparagraph 6(b) a "major subcontractor or labor supplier" shall be a subcontractor or EXHIBIT "C" ----------- 63 supplier providing in excess of Fifty Thousand and 00/100ths Dollars ($50,000.00) of services, labor, supplies, or materials in connection with the construction of the Tenant Improvements. Landlord may not deduct from the Tenant Improvement Allowance, and is not charging, any construction administration fee for the Tenant Improvements.
(b) Any amount of the Tenant Improvement Allowance that is not expended by Tenant on Tenant Improvements shall be available as a credit against Monthly Base Rent up to the full remaining balance thereof.
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Payment of Tenant Improvement Allowance. Tenant shall be entitled to monthly disbursements of Tenant Improvement Allowance to be paid by Landlord to Tenant, up to a maximum aggregate amount equal to the amount set forth in Paragraph 1.14 (and, if Tenant exercises it’s Expansion Option pursuant to Rider B, the amount set forth in Paragraph (a)(v) thereof), for Construction Costs of the Tenant Improvements. A disbursement shall contribute up be made to Tenant at such time as: (1) Tenant certifies that the portion of the work relating to the Tenant Improvements to be paid for with the proceeds of such disbursement is complete and Tenant has obtained all permits relating to such work required at such time; (2) Tenant provides Landlord with properly executed mechanics lien releases for all Construction Costs to be paid for with the proceeds of such disbursement; and (3) Tenant provides Landlord with such other information and documents relating to the Construction Costs and other amounts to be paid for with the proceeds of such disbursement and the Tenant Improvements as Landlord may reasonably request. If Landlord elects, Landlord may make disbursements payable by joint check issued in the name of Tenant and the applicable contractor. Should Tenant not use any portion of its Tenant Improvement Allowance by February 1, 2008, Tenant shall be deemed to have waived all rights to the remaining balance to the Tenant Improvement Allowance toward the cost of designing and constructing the Tenant Improvements. For the purposes hereof, the cost of the Tenant Improvements shall include, without limitation, all building permit fees and all preparatory work and the cost of any construction management firm hired by Tenant. The Tenant Improvement Allowance Landlord shall be paid as follows:
(a) Tenant may request disbursement of the Tenant Improvement Allowance on a progress payment basis (a “Disbursement”). Any request for a Disbursement shall be accompanied by certification of the Tenant that the Tenant Improvements for which disbursement is requested have been completed (and in the case of the Final Disbursement, that all of the Tenant Improvements have been substantially completed), copies of paid invoices showing cost paid, in at least the amount requested by Tenant, as well as waivers of lien released from all contractors, subcontractors obligation and liability to provide or suppliers fund such balance of materials to the Tenant Improvements, in form and substance satisfactory to Landlord in its reasonable discretion (which shall be final and unconditional in the case of the Final Disbursement of the Tenant Improvement Allowance hereunder (the “Final Disbursement”)). The aggregate amount of all Disbursements from time to time outstanding hereunder will not at any time will not exceed (x) the lower of (i) the Tenant Improvement Allowance or (ii) the Guaranteed Maximum Price specified in the Contract, multiplied by (y) the percentage completion of the work, determined by Landlord in Landlord’s reasonable discretion (the “Maximum Outstanding”). Upon satisfaction of the foregoing conditions, Landlord shall make any Disbursement up to the Maximum Outstanding hereunder. The Final Disbursement, which may include any amount of Retainage required to be released to the Approved Contractor, shall not be required to be made sooner than thirty (30) days following completion of the Tenant Improvements. Landlord may not deduct from the Tenant Improvement Allowance, subject, however, to Tenant’s rights set forth in subsection (v) of Tenant’s Expansion Option and is not chargingRight of First Opportunity to Lease, any construction administration fee for the Tenant Improvementsattached as Rider B to this Lease.
(b) Any amount of the Tenant Improvement Allowance that is not expended by Tenant on Tenant Improvements shall be available as a credit against Monthly Base Rent up to the full remaining balance thereof.
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Samples: Lease Agreement (Spacedev, Inc.)
Payment of Tenant Improvement Allowance. Landlord shall contribute up to pay the Tenant Improvement Allowance toward for the cost of designing and constructing the Tenant Improvements. For the purposes hereof, the cost of the Phase 1 Tenant Improvements to Tenant when the Phase 1 Tenant Improvements are substantially complete, as provided below. Landlord shall include, without limitation, all building permit fees and all preparatory work and pay the cost of any construction management firm hired by Tenant. The remaining Tenant Improvement Allowance for the Phase 2 Tenant Improvements upon substantial completion thereof as provided below. Landlord shall be paid as follows:
(a) Tenant may request disbursement pay each installment of the Tenant Improvement Allowance on a progress payment basis to Tenant within thirty (a “Disbursement”). Any 30) days after Landlord receives from Tenant its written request for a Disbursement shall be accompanied by certification of therefor, provided that (i) Tenant has substantially completed the Tenant that the Phase 1 Tenant Improvements for which disbursement is requested or Phase 2 Tenant Improvements, as applicable, in accordance with this Work Letter, as determined by certificate of Tenant's architect (Landlord and Landxxxx'x xrchitect shall have been completed (and in the case of right to inspect the Final Disbursement, relevant tenant improvements to see that all of the Tenant Improvements they have been substantially completed), (ii) Tenant is not in default under the terms of this Lease after the expiration of all applicable grace or cure periods and (iii) Tenant's written request is accompanied by the following: (1) copies of invoices paid invoices showing cost paid, by Tenant for Tenant Improvements paid for by the Tenant Improvement Allowance for the applicable phase of construction in at least the amount requested by Tenant, as well as (2) unconditional lien waivers of lien from Tenant's Contractor and all contractorssubcontractors, subcontractors materialmen and suppliers that have performed work or suppliers of supplied materials for work performed and materials installed by or for Tenant prior to the date of Tenant's request, (3) a certificate from Tenant's Architect identifying the Phase 1 Tenant ImprovementsImprovements and Phase 2 Tenant Improvements that have been completed, in form as applicable, and substance satisfactory certifying that those Tenant Improvements have been completed, and (4) a copy of the "finaled" building permit with respect to Landlord in its reasonable discretion (which shall be final the Phase 1 Tenant Improvements and unconditional Phase 2 Tenant Improvements that have been completed and, in the case of the Final Disbursement of the Tenant Improvement Allowance hereunder (the “Final Disbursement”)). The aggregate amount of all Disbursements from time to time outstanding hereunder will not at any time will not exceed (x) the lower of (i) the Tenant Improvement Allowance or (ii) the Guaranteed Maximum Price specified in the Contract, multiplied by (y) the percentage completion of the work, determined by Landlord in Landlord’s reasonable discretion (the “Maximum Outstanding”). Upon satisfaction of the foregoing conditions, Landlord shall make any Disbursement up to the Maximum Outstanding hereunder. The Final Disbursement, which may include any amount of Retainage required to be released to the Approved Contractor, shall not be required to be made sooner than thirty (30) days following completion of the Tenant Improvements. Landlord may not deduct from last request for the Tenant Improvement Allowance, and is not charging, any construction administration fee a certificate of occupancy for the Tenant Improvements.
(b) Any amount Premises. EXHIBIT C-10 71 C. Allocation of the Tenant Improvement Allowance that is not expended by Tenant on Tenant Improvements shall be available as a credit against Monthly Base Rent up to the full remaining balance thereof.Allowance
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Payment of Tenant Improvement Allowance. Landlord shall contribute up to the Tenant Improvement Allowance toward the cost of designing and constructing the Tenant Improvements. For the purposes hereof, the cost of the Tenant Improvements shall include, without limitation, all building permit fees and all preparatory work and the cost of any construction management firm hired by Tenant. The Tenant Improvement Allowance shall be disbursed to Tenant by Landlord within twenty (20) days of receipt of Tenant’s request accompanied by paid as follows:
invoices and lien free endorsements executed by the appropriate payee. Landlord’s sole obligation to reimburse for Tenant Improvements shall not exceed that amount set forth in the Paragraph 19 of the Basic Lease Information. If any installment is not paid when due, the same shall bear interest at the Interest Rate from the due date until the payment date, and Tenant shall have the right to setoff the amount of such installments and such interest against the rent due under the Lease. Landlord acknowledges that Tenant will be occupying the Premises prior to the Commencement Date pursuant to a Sublease Agreement with MarketTools, Inc. (athe “Sublease”), which Sublease has been approved by Landlord. Notwithstanding any provision of this Lease to the contrary, but subject to the terms and conditions of this Section 30, Tenant shall be permitted to construct some or all of the Tenant Improvements to the Premises during the term of the Sublease, and Landlord agrees to make the Tenant Improvement Allowance available during such time period for such purposes. Landlord further agrees that (i) Tenant may request disbursement use a portion of the Tenant Improvement Allowance to construct an interior staircase connecting the Premises with the premises leased by Tenant on a progress payment basis (a “Disbursement”). Any request for a Disbursement shall be accompanied by certification the third floor of the Tenant that the Tenant Improvements for which disbursement is requested have been completed (Building, and in the case of the Final Disbursement, that all of the Tenant Improvements have been substantially completed), copies of paid invoices showing cost paid, in at least the amount requested by Tenant, as well as waivers of lien from all contractors, subcontractors or suppliers of materials to the Tenant Improvements, in form and substance satisfactory to Landlord in its reasonable discretion (which shall be final and unconditional in the case of the Final Disbursement of the Tenant Improvement Allowance hereunder (the “Final Disbursement”)). The aggregate amount of all Disbursements from time to time outstanding hereunder will not at any time will not exceed (x) the lower of (i) the Tenant Improvement Allowance or (ii) subject to Landlord’s approval as to the Guaranteed Maximum Price specified location, capacity and means of installing the same, Tenant may install, at its cost, an emergency back-up generator at a location mutually acceptable to Landlord and Tenant in compliance with all applicable governmental regulations. The generator shall support all Building Systems, including electrical, plumbing, heating, ventilating, sprinkler and life-safety equipment, serving the ContractBuilding, multiplied by (y) including the percentage completion Premises and any common areas of the work, determined by Landlord in Landlord’s reasonable discretion (the “Maximum Outstanding”). Upon satisfaction of the foregoing conditions, Landlord shall make any Disbursement up to the Maximum Outstanding hereunder. The Final Disbursement, which may include any amount of Retainage required to be released to the Approved Contractor, shall not be required to be made sooner than thirty (30) days following completion of the Tenant ImprovementsBuilding. Landlord may not deduct from will cooperate with Tenant in obtaining any permits or other governmental approvals required by the Tenant Improvement Allowance, City of Mill Valley to install and is not charging, any construction administration fee for operate the Tenant Improvementsemergency back-up generator.
(b) Any amount of the Tenant Improvement Allowance that is not expended by Tenant on Tenant Improvements shall be available as a credit against Monthly Base Rent up to the full remaining balance thereof.
Appears in 1 contract
Samples: Lease Agreement (Redwood Trust Inc)
Payment of Tenant Improvement Allowance. Not more often than once --------------------------------------- each month during Tenant's construction process, Tenant shall submit to Landlord shall contribute up a invoice for work done to the date described in the invoice, together with copies of xxxxxxxx from Tenant's general contractor, invoices and other back-up documentation reasonably requested by Landlord. Tenant Improvement Allowance toward the cost of designing and constructing the Tenant Improvements. For the purposes hereof, the cost of the Tenant Improvements shall include, without limitation, indicate in a cover sheet (i) that Tenant's architect has certified that all building permit fees and all preparatory work and the cost of any construction management firm hired by Tenant. The Tenant Improvement Allowance shall be paid as follows:
(a) Tenant may request disbursement of the Tenant Improvement Allowance on a progress payment basis (a “Disbursement”). Any request for a Disbursement shall be accompanied by certification of the Tenant that the Tenant Improvements for which disbursement payment is requested have has been completed (and in or identifying that work that the case of the Final Disbursement, that all of the Tenant Improvements have architect believes has not been substantially completed), copies of paid invoices showing cost paid, in at least the amount requested by Tenant, as well as waivers of lien from all contractors, subcontractors or suppliers of materials to the Tenant Improvements, in form and substance satisfactory to Landlord in its reasonable discretion (which shall be final and unconditional in the case of the Final Disbursement of the Tenant Improvement Allowance hereunder (the “Final Disbursement”)). The aggregate amount of all Disbursements from time to time outstanding hereunder will not at any time will not exceed (x) the lower of (i) the Tenant Improvement Allowance or (ii) the Guaranteed Maximum Price specified in amount for which Tenant is requesting reimbursement and (iii) certifying that there are then no liens on the ContractPremises as a result of Tenant' s Improvement work and that, multiplied by to Tenant's knowledge, all bills that are then due and owing to laborers, materialmen and contractors have been paid -accordance with contract terms (ythe "Payment Request"). Within fifteen (15) the percentage completion days after receipt of a complete Payment Request, Xxxxxxx shall pay to Tenant's contractor a sum equal to ninety percent (90%) of the workamounts certified by Tenant, determined and by Landlord in Landlord’s reasonable discretion (Tenant architect, for payment under the “Maximum Outstanding”)Payment Request. Upon satisfaction of If the foregoing conditions, Landlord shall make any Disbursement up to the Maximum Outstanding hereunder. The Final Disbursement, which may include any amount of Retainage required to be released to the Approved Contractor, shall not be required to be made sooner than thirty (30) days following completion of the Tenant Improvements. Landlord may not deduct from Cost Estimate exceed the Tenant Improvement Allowance, and at the time each payment is not chargingdue pursuant to a Payment Request, any construction administration fee for Landlord shall pay a fraction of the Tenant Improvements.
(b) Any total amount described in the Payment Request, the numerator of the fraction to be the amount of the Tenant Improvement Allowance and the denominator of the fraction to be the amount of the Cost Estimate. If any lien is placed on the Premises, Landlord shall have no obligation to disburse any further portion of the Tenant Improvement Allowance until such time as the lien has been removed and a bond posted for its payment. The ten percent (10%) that is not expended by Tenant Landlord has withheld from each monthly disbursement shall be-paid to Tenant's contractor thirty (30) days after recordation of a proper Notice of Completion with regard to Tenant's improvement work, but in no event until any and all liens placed on Tenant Improvements shall be available the Premises as a credit against Monthly Base Rent up result of Tenant's Improvement work have been removed. Within the (10) days following the recordation of the Notice of Completion, Tenant shall deliver to Landlord Conditional Lien Releases (in the full remaining balance thereof.form specified in the California Civil Code) from the genera contractor and all parties having lien rights. Schedule A to EXHIBIT "B" XXXXXXX JOB #4376 Plan ARCHITECT Sheet Date Rev. # Rev. Date Rev. Date ---- --------- ----- ---- ------ --------- --------- Number ------ Architectural TSH Architects 11/10/95 11/20/95 12/06/95 01/96 ------------- Title Sheet * AD * ----------- Site Plan * A1 * --------- Demolition Plan Exterior * D1 * ------------------------ Floor Plan * A2 * ---------- Roof Plan * A3 * --------- Exterior Elevations * A4 * ------------------- Building Sections * A5 * ----------------- Wall Sections/Details * A6 * --------------------- Details * A7 * ------- Details * A8 * ------- Civil Xxxx & Xxxxxx ----- Grading & Drainage * C-1 * ------------------ Grading & Drainage * C-2 * ------------------ Structural Xxxxx Design, Inc. ---------- Foundation Plan * S-1 * --------------- Roof Framing Plan * S-2 No Date ----------------- Brace Elevation & Details * S-3 * ------------------------- General Notes & Typical * S-4 * ----------------------- Details --------- Foundation & Roof Detail * S-5 * ------------------------
Appears in 1 contract
