Tenant Allowance Sample Clauses
A Tenant Allowance clause defines the amount and terms under which a landlord provides funds or credits to a tenant, typically to cover costs related to improvements or modifications to the leased premises. This allowance may be paid as a lump sum or reimbursed upon completion of approved work, and often requires the tenant to submit documentation or invoices for eligible expenses such as construction, fixtures, or design upgrades. The core function of this clause is to facilitate the tenant’s customization of the space while clearly outlining financial responsibilities, thereby reducing disputes and ensuring both parties understand the scope and limits of the landlord’s contribution.
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Tenant Allowance. Landlord agrees to provide to Tenant an allowance with respect to the Suite 150 Premises, of $10.00 per rentable square foot (the “Tenant Improvement Allowance”) (i.e., a total of 3,317 sf x $10.00 prsf = $33,170.00) for leasehold improvements to the Premises. Fifty percent (50%) of the Tenant Improvement Allowance for each suite must be applied to the Tenant’s Work for that particular suite or for other suites leased by Tenant at Two Paragon Centre. If the foregoing condition is satisfied, up to fifty percent (50%) of the Tenant Improvement Allowance (i.e. $16,585.00) may be applied to the cost of space planning, architectural and mechanical drawings, Tenant’s cabling, furniture, fixtures and equipment, moving-related expenses and the like, for the Premises or any of Tenant’s premises at Two Paragon Centre. The Tenant Improvement Allowance shall be disbursed by Landlord to Tenant within ten (10) days after the date Landlord delivers possession of such suite to Tenant. Upon completion of Tenant’s Work for Suite 150, Tenant shall promptly deliver to Landlord final and unconditional lien waivers for Tenant’s Work and copies of paid invoices evidencing the cost of all of Tenant’s Work. Any unused portion of the Tenant Improvement Allowance shall be retained by Landlord. To the extent that the cost of Tenant’s Work exceeds the Tenant Improvement Allowance, Tenant shall be fully responsible for payment of the same and shall provide evidence of payment thereof to Landlord.
Tenant Allowance. Landlord shall provide Tenant an allowance for each Building in an amount not to exceed the sum set forth in the Basic Lease Information for the Tenant Allowance for the applicable Building (collectively, the “Tenant Allowance”), to be applied toward the cost of the following items in respect of the Tenant Improvements in the applicable Building: Architectural and engineering fees, space planning, building permits or other governmental fees, and the cost of labor, materials, contractors fees and overhead, and other charges included in the construction contract for construction of Tenant Improvements, including the contractor’s fee, overhead and general conditions, sales and use taxes, the cost of the builder’s risk insurance during construction and all testing and inspection costs. If Landlord elects to itself construct the Restroom Improvements, Landlord shall make payments to its contractor for the Restroom Improvements as and when such costs are incurred and deduct the amount of such payments from the Tenant Allowance for Building 2 up to the maximum amount stated in Paragraph I of this Work Letter. Landlord shall not be obligated to disburse any remaining portion of the Tenant Allowance attributable to a Building until such time as (i) the Commencement Date for the applicable Building has occurred and Tenant has accepted delivery of the Building and made the initial prepayment of Rent with respect to the applicable portion of the Premises; and (ii) Tenant has delivered to Landlord and Landlord has approved, in Landlord’s reasonable discretion, all of the following: (A) invoices, paid receipts and/or related evidence reasonably acceptable to Landlord establishing that Tenant has paid an amount equal to that portion of the Tenant Allowance requested by Tenant to third parties in connection with the Tenant Improvements in the applicable Building; (B) executed unconditional final mechanics’ lien releases, in statutory form, from Tenant’s contractor and all subcontractors, laborers, materialmen and suppliers used by Tenant with respect to all work in and to the Premises located in the applicable Building; (C) a certificate from Tenant’s architect or space planner, in a form reasonably acceptable to Landlord, certifying that the construction of the Tenant Improvements in the applicable Building has been substantially completed and meets all applicable building codes; (D) a copy of the certificate of occupancy (or similar governmental authorization) for the a...
Tenant Allowance. (a) Provided this Lease is in full force and effect and Tenant is not then in default of the payment of basic annual rent under this Lease or of any other obligations under this Lease beyond any applicable notice and cure periods, Landlord shall pay Tenant toward the cost of the Initial Work up to an amount equal to the Initial Premises Allowance, as adjusted by Schedule C and by the last sentence of Section 2.04 hereof, for Hard Costs (as hereinafter defined) and Soft Costs (as hereinafter defined); provided, that Landlord shall not be required to pay from the Initial Premises Allowance for Soft Costs to the extent such Soft Costs exceed the Initial Premises Soft Costs Maximum (hereinafter defined). The “Initial Premises Soft Costs Maximum” equals ten percent (10%) of the difference between: (a) the Initial Premises Allowance and (b) the total amount set forth in Schedule C hereof. Subject to the terms of this Article, Landlord shall pay Tenant the Initial Premises Allowance, it being understood that in no event shall Landlord be obligated to expend any amounts (x) in excess of the Initial Premises Allowance or (y) for Soft Costs in excess of the Initial Premises Soft Costs Maximum. Tenant shall pay its contractors, subcontractors, materialmen and other professionals for performing the Initial Work, including all costs of the Initial Work in excess of the Initial Premises Allowance.
Tenant Allowance. As a material part of this leasing transaction, ---------------- Landlord agrees to provide to Tenant an allowance ("Tenant Improvement Allowance") of $20.00 per square foot (i.e., a total of 5,376 sf x $20.00 psf = $107,520.00). Such Tenant Improvement Allowance shall be usable for, but shall not be limited to, the cost of all construction documents/drawings, permits, actual construction costs (materials and labor), general contractor fees, reasonable (and documented) moving related expenses (not to exceed $2.00 per square foot of the total Tenant Improvement Allowance), and a five percent (5%) construction management fee (such total costs hereinafter referred to as "Tenant Improvement Costs"). To the extent that the Tenant Improvement Costs exceed the Tenant Improvement Allowance (a "Shortfall"), Landlord will ▇▇▇▇ to Tenant the Shortfall in two (2) equal installments, due as follows: the first installment of fifty percent (50%) of the shortfall to be made at the commencement of construction, and the second installment of fifty percent (50%) upon substantial completion of construction. To the extent that the Tenant Improvement Costs are less than the Tenant Improvement Allowance, Landlord shall credit the unused portion of the Tenant Improvement Allowance against the first rental payment(s) when due or, at Tenant's sole -- option, Landlord shall place the unused portion of the Tenant Improvement Allowance in an interest-bearing account, and Tenant may use said unused portion of the Tenant Improvement Allowance for future Tenant Improvements within the New Premises. In all events, ten percent (10%) of the total cost of the job will be held back from the general contractor until all punch list items are complete, to the reasonable satisfaction of Tenant's architect.
Tenant Allowance. Landlord shall provide Tenant with an allowance (the “Tenant Allowance”) in the amount of $245,000.00 to reimburse Tenant for costs incurred by Tenant (not in excess of $245,000.00) for the construction of additional improvements in the Premises (including design fees and construction costs), and for cabling and furniture installed in the Premises. The Tenant Allowance shall be paid in accordance with Schedule ”A” attached hereto and by reference made a part hereof.
Tenant Allowance. Landlord shall provide Tenant with a $75,000 relocation allowance to be used for furniture, wiring, and other costs
Tenant Allowance. Landlord shall provide an allowance for improvement of the 6th Floor Additional Premises and Tenant’s stairwell in the amount of $1,818,740.00 (“Landlord’s Contribution”) and an allowance for the preparation of Tenant’s plans and specifications in the amount of $3,968.16 (the “Plan Contribution”), in accordance with the Work Letter attached hereto as Exhibit B. The Landlord’s Contribution and the Plan Contribution shall be used only for costs associated with the 6th Floor Additional Premises.
Tenant Allowance. Tenant shall be responsible to design and construct all improvements within Expansion Block 5, at Tenant's sole expense, which design and construction shall be conducted in accordance with the provisions of Section 10B of the Lease. Landlord will provide Tenant with a tenant improvement allowance for construction of improvements in Expansion Block 5 in the aggregate amount of $112,375.00 ($25.21 per rentable square foot) (the "Tenant Allowance"). During construction of the improvements in Expansion Block 5 (but no more often than once per month), Tenant shall submit a bill ▇▇ bills to Landlord for reimbursement of the actual costs incurred by Tenant to date to produce plans, construct improvements, purchase furniture, fixtures or equipment or pay moving expenses. Tenant shall attach to such bill ▇▇ bills all relevant and available invoices and other evidence of the completion of work as Landlord may require in its reasonable discretion. Within fifteen (15) business days of its receipt of such bill ▇▇ bills from Tenant, provided Tenant is not in default hereunder, Landlord shall reimburse Tenant for all reasonably verifiable costs incurred by Tenant in constructing the improvements to Expansion Block 5 up to the maximum Tenant Allowance. In the event that Tenant completes construction of the improvements to Expansion Block 5 and the actual costs to complete such improvements are less than the Tenant Allowance, the Base Rent due and payable by Tenant to Landlord for Expansion Block 5 shall be reduced on a dollar for dollar basis until such Tenant Allowance is expended in full.
Tenant Allowance. Landlord grants to Tenant an allowance of $5.00 per rentable square foot ($82,230) to be applied to previously accrued charges for after hours HVAC, electric charges and plumbing repairs. A spreadsheet detailing the total cost owed/paid by Tenant is attached as Exhibit “B”. The remaining balance of $14,975.01 will be paid to Landlord by Tenant on the Effective Date.
Tenant Allowance. (A) Landlord shall provide to Tenant an allowance of $5,302,770.00 (i.e., $165.00 per rentable square foot of the Premises) (the “Allowance”). The Allowance shall be used and applied by Tenant solely on account of the hard and soft costs of Tenant’s Work. “Landlord’s Contribution” shall be equal to the lesser of: (a) the actual cost of Tenant’s Work (the “Cost”) or (b) the Allowance. For purposes of this paragraph, “Cost” shall include all so-called hard and soft costs and expenses, including, without limitation, space planning, permits and approvals, construction documents, demolition, and construction associated with Tenant’s Work, the cost of architectural, engineering and project management fees and the cost of furniture, fixtures and equipment for the Premises. If the Cost of Tenant’s Work exceeds the Allowance, Tenant shall be responsible for the payment of all such excess.