Subtenant Improvement Allowance. (a) Subtenant shall be entitled to an improvement allowance, to be applied to construction costs associated with the Plans and Specifications, of $30.00 for each rentable square foot of the Unimproved Space, for a total allowance of $362,970.00 (the “Subtenant Improvement Allowance”). Subtenant shall be responsible for all costs associated with constructing the Subtenant Improvements in excess of the Subtenant Improvement Allowance, including the costs of any Subtenant Change Orders or NonStandard Work.
(b) Sublandlord shall reimburse Subtenant for any Subtenant Improvement Costs for the Subleased Premises up to a maximum of the Subtenant Improvement Allowance. Sub landlord shall pay the Subtenant Improvement Allowance within 30 days of receiving the following:
(i) final releases of lien signed by the Subtenant Improvement Contractor and all subcontractors who provided any labor or materials with respect to the Subtenant Improvements (which releases may be contingent upon the receipt of sums reflected in the final payment application and/or which may exclude reasonable holdbacks for punchlist items);
(ii) a certificate executed by Subtenant confirming the amount of Subtenant Improvement Costs incurred by Subtenant and that all Subtenant Improvement Costs have been paid by Subtenant except for reasonable holdbacks related to punchlist items as specified in such certificate;
(iii) a set of the Plans and Specifications marked to show as built conditions, which shall be in a reproducible electronic media format; and
(iv) Sublandlord’s receipt of the Sublandlord’s improvement allowance from Master Landlord in accordance with the terms of the Master Lease.
(c) Sub landlord’s obligation to reimburse Subtenant in accordance with subparagraph (b) above shall be conditioned upon the following:
(i) No Event of Default shall have occurred and be continuing hereunder at the time any such payment is requested; and
(ii) Construction of the Subtenant Improvements shall have been substantially completed. In the event that the cost of the Subtenant Improvements is less than the Subtenant Improvement Allowance, Subtenant shall receive a credit in the amount of up to fifty percent (50%) such savings, if and to the extent Sub landlord receives such credit from Master Landlord, to be applied against the installments of Base Rent first falling due following Sub landlord’s receipt of such credit from Master Landlord.
Subtenant Improvement Allowance. Sublandlord shall provide Subtenant with an improvement allowance in amount equal to Nine Hundred Ten Thousand Eight Hundred Twelve and 60/100 Dollars ($910,812.60) for the cost of constructing the Initial Subtenant Improvements (the “Subtenant Improvement Allowance”). Sublandlord and Subtenant agree and acknowledge that the Subtenant Improvement Allowance will be used only for the Subtenant Improvements Costs and that the Subtenant Improvement Allowance, and all of it, shall be utilized only for the benefit of the Subleased Premises. If any unused or unfunded portion of the Subtenant Improvement Allowance remains on December 1, 2015, at the written request of Subtenant delivered to Sublandlord, Subtenant shall have the right to credit all or a portion of such unused or unfunded Subtenant Improvement Allowance toward Subtenant’s payment of monthly Base Rent. Any cost incurred in the design or construction of the Initial Subtenant Improvements in excess of the Subtenant Improvement Allowance shall be borne solely by Subtenant.
Subtenant Improvement Allowance. Subtenant shall accept the space in “as is” condition. Sublandlord shall be required to have the Premises in “broom clean” condition and free of equipment and other personal property not covered under this Agreement. Moreover, Sublandlord will remove all logos and trademark fixtures found in the premises, but will not be responsible for repainting. Should the removal of such items cause damage to the walls or premises, Sublandlord shall be responsible for repairing said damage. Sublandlord will also construct a demising wall at their sole expense between the Subtenant Premises and the Sublandlord.
Subtenant Improvement Allowance. Twenty Thousand Nine Hundred and ------------------------------- Sixty-Five Dollars ($20,965.00). The Subtenant Improvement Allowance shall be used to construct the Subtenant Improvements in accordance with the Work Letter Agreement attached hereto and incorporated herein as Exhibit D. All Subtenant Improvements shall be and remain the property of Sublandlord.
Subtenant Improvement Allowance. $1,530,000 ($25.00 per rentable square foot of the Premises).
Subtenant Improvement Allowance. Subtenant shall construct the Subtenant Improvements in accordance with the terms hereof and the Subtenant Work Letter, at Subtenant’s cost, provided, that, Sublandlord shall provide Subtenant with an improvement allowance equal to One Hundred Twenty-Five Dollars ($125.00) per rentable square foot of the Premises (the “Subtenant Improvement Allowance”). Subtenant shall be entitled to apply the Subtenant Improvement Allowance to hard and soft costs incurred by Subtenant to construct the Subtenant Improvements and to prepare for Subtenant’s occupancy to the Premises, including, without limitation, all architectural and engineering services, project management, design supervision and construction management fees, moving expenses, costs and expenses to acquire and install security systems, furniture, fixtures and equipment, permitting fees, signage, and data/telephone cabling. Sublandlord confirms that Sublandlord shall not charge Subtenant any construction management or supervision fee which Sublandlord may be charged or may incur (and Sublandlord shall pay any such fees and related costs and expenses charged by Master Landlord). Sublandlord shall disburse the Subtenant Improvement Allowance in accordance with the Disbursement Procedures set forth in Section 10.4.3 below.
Subtenant Improvement Allowance. Sublandlord shall provide Subtenant with a subtenant improvement allowance in the amount of One Million Five Hundred Fifty Thousand and 00/100 Dollars ($1,550,000) (the "Subtenant Improvement Allowance"). Subtenant shall use the Subtenant Improvement Allowance solely to construct tenant improvements in the Sublease Premises in accordance with the terms of the work letter attached hereto as Exhibit "E" (the "Work Letter") and for Sublease Premises-related expenses, all of which shall be subject to the prior approval of Sublandlord, which shall not be unreasonably withheld, conditioned or delayed, and Master Landlord pursuant to the Master Lease (the "Sublease Premises Improvements").
Subtenant Improvement Allowance. Sublessor shall give to Subtenant a ------------------------------- one time tenant improvement allowance of $4.50 per rentable square foot (the "Subtenant Improvement Allowance") for Subtenant's use to cover any and all costs related to Subtenant's construction of a board room, executive office and other interior improvements on the Premises and for Subtenant's costs related to signage for the Premises as set forth in Section 1C above. Subtenant shall submit plans for such construction to Sublessor for approval by Sublessor and Landlord. Subtenant shall be responsible for obtaining any and all required permits and approvals for such construction, and shall ensure that such construction complies with all applicable Laws (as defined in Section 6). Any portion of the Subtenant Allowance not used for such construction or signage may be used to purchase furniture, fixtures or equipment. Subtenant shall have access to the Premises thirty (30) days prior to the Commencement Date (as defined below) for purposes of completing such construction. Subtenant shall protect, indemnify, defend and hold Sublessor harmless from any and all loss, liability, damage, costs, expense or claims (including, without limitation, attorneys' fees), arising from or as a result of Subtenant's (or its agents', invitees', employees' or contractors') occupancy or construction activity on the Premises, unless otherwise caused by the negligence or willful misconduct of Sublessor, Landlord or their agents, employees or assigns.
Subtenant Improvement Allowance. The design and construction of Subtenant’s desired initial leasehold improvements to the Premises (the “Subtenant Improvements”) will be constructed in accordance with Sublandlord’s tenant improvement procedures set forth in Exhibit G attached hereto and incorporated herein. Sublandlord hereby agrees to provide Subtenant with a Subtenant Improvement Allowance (“TI Allowance”) of Thirty Eight Dollars and Fifty Cents ($38.50) per rentable square foot. Such TI Allowance shall be usable for space planning, construction drawings, project/construction management, hard and soft construction costs, and permits. Sublandlord and its contractor will allow the Subtenant and its subcontractors to work in parallel with the Sublandlord’s contractors only with approval from the Sublandlord’s contractor whose consent will not unreasonably be withheld as provided in Exhibit G attached hereto and incorporated herein.
Subtenant Improvement Allowance. Upon the Commencement Date, Sublandlord shall provide Subtenant with One Hundred Twenty-Five Thousand Dollars ($125,000) to be utilized for improvement of the Premises. Sublandlord shall net Subtenant's Advance Rent and Security Deposit against the Subtenant Improvement Allowance for a net payment to Subtenant of Seventy Thousand Three Hundred Thirty-Seven and 60/100 Dollars. ($70,337.60). The Subtenant Improvements to be constructed by Subtenant shall be constructed by XxXxxxxxxx Construction pursuant to plans and specifications to be prepared by Xxxxx Xxxxxxx/XxXxxxxxxx Construction based on the description of tenant improvements attached hereto and incorporated herein as EXHIBIT B and the final plans and specifications are subject to Master Landlord's consent and approval as required under Paragraph 8 of the Master Lease. Sublandlord hereby consents to Subtenant's construction of said Subtenant Improvements and Construction of the alterations shall be made in accordance with the terms of Paragraph 8 of the Master Lease, subject to obtaining Master Landlord's consent.
