Common use of PAYMENT OF TENANT'S COST Clause in Contracts

PAYMENT OF TENANT'S COST. Landlord and Tenant acknowledge that the Basic Rent has been computed based on Landlord's allowance of $2,288,380.00 (the "ALLOWANCE") towards the cost of the Original Leasehold Improvements. To the extent the Approved Tenant's Costs (as increased or decreased by Original Change Orders): (A) are less than the Allowance, the "savings" will be credited to the next installment(s) of Original Basic Rent due after such determination, (B) exceed the Allowance, Tenant will pay such excess to Landlord as herein required. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION 3.10 (up to a maximum of an amount equal to $572,095.00 (the "FINANCED AMOUNT") shall be paid by Tenant to Landlord in monthly installments, amortized over the remaining months of the initial 11-year term of this Lease at a rate of nine percent (9%) per annum, with the Original Basic Rent to be increased by an amount equal to such amortized installments. Landlord and Tenant will, upon request of the other, promptly enter into an amendment to this Lease to evidence the increase in the Original Basic Rent. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION 3.10 in excess of the Financed Amount shall be paid by Tenant to Landlord within thirty (30) days following the determination of the sum due to Landlord by Tenant and delivery to Tenant of supporting documentation of the entire amount paid. Tenant will own all of the Original Leasehold Improvements until the end of the Term, at which time the Original Leasehold Improvements will become Landlord's property in accordance with SECTION 14. 1. During the Term, Tenant may, in its sole discretion, remove or replace any of the personal property, equipment, trade fixtures or movable partitions owned by Tenant and placed or installed in the Premises at Tenant's expense. Subject to SECTION 10.1, Tenant may also remove or replace the Original Leasehold Improvements. Landlord warrants that the Original Base Building and Original Leasehold Improvements will be free of all defects in design, materials or construction for a period of one year from the Original Commencement Date.

PAYMENT OF TENANT'S COST. Landlord and Tenant acknowledge that the Basic Rent has been computed based on Landlord's allowance of $2,288,380.00 (the "ALLOWANCEAllowance") towards the cost of the Original Leasehold Improvements. To the extent the Approved Tenant's Costs (as increased or decreased by Original Change Orders): (A) are less than the Allowance, the "savings" will be credited to the next installment(s) of Original Basic Rent due after such determination, (B) exceed the Allowance, Tenant will pay such excess to Landlord as herein required. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION Section 3.10 (up to a maximum of an amount equal to $572,095.00 (the "FINANCED AMOUNTFinanced Amount") shall be paid by Tenant to Landlord in monthly installments, amortized over the remaining months of the initial 11-year term of this Lease at a rate of nine percent (9%) per annum, with the Original Basic Rent to be increased by an amount equal to such amortized installments. Landlord and Tenant will, upon request of the other, promptly enter into an amendment to this Lease to evidence the increase in the Original Basic Rent. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION Section 3.10 in excess of the Financed Amount shall be paid by Tenant to Landlord within thirty (30) days following the determination of the sum due to Landlord by Tenant Xxxxxx and delivery to Tenant of supporting documentation of the entire amount paid. Tenant will own all of the Original Leasehold Improvements until the end of the Term, at which time the Original Leasehold Improvements will become Landlord's property in accordance with SECTION 14. 1Section 14.1. During the Term, Tenant may, in its sole discretion, remove or replace any of the personal property, equipment, trade fixtures or movable partitions owned by Tenant and placed or installed in the Premises at Tenant's expense. Subject to SECTION Section 10.1, Tenant may also remove or replace the Original Leasehold Improvements. Landlord warrants that the Original Base Building and Original Leasehold Improvements will be free of all defects in design, materials or construction for a period of one year from the Original Commencement Date.

PAYMENT OF TENANT'S COST. Tenant shall approve in writing the Total Cost and Tenant’s Cost (if any) within five (5) business days of receiving the notice from Landlord specifying the same, and such approval shall constitute Tenant’s authorization to Landlord to complete the Tenant Improvements in accordance with the Plans, except only as otherwise expressly provided to the contrary in Tenant’s approval (it being contemplated that, subject to the provisions of Paragraph 6 below, Tenant might approve and authorize Landlord to proceed with portions of the work while Tenant works to reduce the Total Cost through value engineering or otherwise works on refining the pricing and/or scope of the work). If such written authorization is not received by Landlord, Landlord shall not be obligated to commence work on the Tenant Improvements, and Tenant acknowledge that shall be chargeable with any additional costs associated with the Basic Rent has been computed based on Landlord's allowance of $2,288,380.00 (delay in the "ALLOWANCE") towards the cost completion of the Original Leasehold Tenant Improvements. To Within five (5) business days after receipt of Landlord’s invoice or other form of written billing therefor (which may be in one or more monthly progress payment xxxxxxxx, each rendered substantially contemporaneously with Landlord’s corresponding payment to the extent Contractor, followed by a final billing after the Approved completion of the Tenant Improvements), Tenant shall pay Tenant's Costs ’s Share of the amount due to the Contractor. “Tenant’s Share” shall be a fraction, the numerator of which is the portion of Tenant’s Cost remaining in connection with the Tenant Improvements and the denominator of which is the portion of the Total Cost remaining in connection with the Tenant Improvements (which fraction is subject to change if the Tenant’s Cost and Total Cost change throughout the project). As soon as increased or decreased may be practicable following completion of the Tenant Improvements, Landlord shall prepare a final written reconciliation of the Total Cost for the Tenant Improvements, less the Landlord’s Allowance, less all payments made by Original Change Orders): (A) are Tenant toward the Tenant’s Cost. If Tenant has paid less than the Allowance, the "savings" will be credited to the next installment(s) of Original Basic Rent due after such determination, (B) exceed the AllowanceTenant’s Cost, Tenant will shall pay such excess to Landlord as herein required. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION 3.10 (up to a maximum of an amount equal to $572,095.00 (the "FINANCED AMOUNT") shall be paid by Tenant to Landlord in monthly installments, amortized over the remaining months of the initial 11-year term of this Lease at a rate of nine percent (9%) per annum, with the Original Basic Rent to be increased by an amount equal to such amortized installments. Landlord and Tenant will, upon request of the other, promptly enter into an amendment to this Lease to evidence the increase in the Original Basic Rent. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION 3.10 in excess of the Financed Amount shall be paid by Tenant shortfall to Landlord within thirty five (305) business days following after receipt of such reconciliation. If Tenant has paid more than Tenant’s Cost, Landlord shall promptly pay such overage to Tenant or credit such overage to the determination monthly Base Rent next becoming due from Tenant. If Tenant fails to make any payment hereunder when due, or if Tenant fails to increase the Amount of the sum due Undertaking if required pursuant to Landlord by Tenant and delivery to Tenant of supporting documentation Paragraph 5 of the entire amount paid. Tenant will own all of Lease, in addition to any remedy that Landlord has under the Original Leasehold Improvements until the end of the TermLease, at which time law or in equity, Landlord shall be permitted to stop any or all work on the Original Leasehold Tenant Improvements will become Landlord's property in accordance with SECTION 14. 1and any delay attributable thereto shall constitute a Tenant Delay under Paragraph 6 hereof. During the Term, All payments due from Tenant may, in its sole discretion, remove or replace any of the personal property, equipment, trade fixtures or movable partitions owned by Tenant and placed or installed hereunder shall constitute Rent (as defined in the Premises at Tenant's expense. Subject to SECTION 10.1, Tenant may also remove or replace the Original Leasehold Improvements. Landlord warrants that the Original Base Building and Original Leasehold Improvements will be free of all defects in design, materials or construction for a period of one year from the Original Commencement DateLease).

PAYMENT OF TENANT'S COST. Tenant shall approve in writing the Total Cost and Tenant’s Cost (if any) within five (5) business days of receiving the notice from Landlord specifying the same, and such approval shall constitute Tenant’s authorization to Landlord to complete the Sublease Improvements in accordance with the Plans, except only as otherwise expressly provided to the contrary in Tenant’s approval (it being contemplated that, subject to the provisions of Paragraph 6 below, Tenant might approve and authorize Landlord to proceed with portions of the work while Tenant works to reduce the Total Cost through value engineering or otherwise works on refining the pricing and/or scope of the work). If such written authorization is not received by Landlord, Landlord shall not be obligated to commence work on the Sublease Improvements, and Tenant acknowledge that shall be chargeable with any additional costs associated with the Basic Rent has been computed based on Landlord's allowance of $2,288,380.00 (delay in the "ALLOWANCE") towards the cost completion of the Original Leasehold Tenant Improvements. To Tenant shall transmit to Landlord with such approval payment to Landlord of the extent total amount of the Approved Tenant's Costs (’s Cost. If such written authorization and check are not received by Landlord, Landlord shall not be obligated to commence work on the Sublease Improvements. As soon as increased or decreased may be practicable following completion of the Tenant Improvements, Landlord shall prepare a final written reconciliation of the Total Cost for the Sublease Improvements, less the Landlord’s Sublease Allowance, less the amount of the Tenant’s Cost paid by Original Change Orders): (A) are Tenant. If Tenant has paid less than the Allowance, the "savings" will be credited to the next installment(s) of Original Basic Rent due after such determination, (B) exceed the AllowanceTenant’s Cost, Tenant will shall pay such excess to Landlord as herein required. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION 3.10 (up to a maximum of an amount equal to $572,095.00 (the "FINANCED AMOUNT") shall be paid by Tenant to Landlord in monthly installments, amortized over the remaining months of the initial 11-year term of this Lease at a rate of nine percent (9%) per annum, with the Original Basic Rent to be increased by an amount equal to such amortized installments. Landlord and Tenant will, upon request of the other, promptly enter into an amendment to this Lease to evidence the increase in the Original Basic Rent. Any such excess sums owing by Tenant to Landlord pursuant to this SECTION 3.10 in excess of the Financed Amount shall be paid by Tenant shortfall to Landlord within thirty five (305) business days following the determination after receipt of the sum due to such reconciliation. If Tenant has paid more than Tenant’s Cost, Landlord by Tenant and delivery shall promptly pay such overage to Tenant of supporting documentation of or credit such overage to the entire amount paidmonthly Basic Monthly Rental next becoming due from Tenant under the Master Lease. If Tenant will own all of fails to make any payment hereunder when due, in addition to any remedy that Landlord has under the Original Leasehold Improvements until the end of the TermMaster Lease, at which time law or in equity, Landlord shall be permitted to stop any or all work on the Original Leasehold Sublease Improvements will become Landlord's property in accordance with SECTION 14. 1and any delay attributable thereto shall constitute a Tenant Delay under Paragraph 6 hereof. During the Term, All payments due from Tenant may, in its sole discretion, remove or replace any of the personal property, equipment, trade fixtures or movable partitions owned by Tenant and placed or installed hereunder shall constitute Rental (as defined in the Premises at Tenant's expense. Subject to SECTION 10.1, Tenant may also remove or replace the Original Leasehold Improvements. Landlord warrants that the Original Base Building and Original Leasehold Improvements will be free of all defects in design, materials or construction for a period of one year from the Original Commencement DateMaster Lease).