Tenant Allowances. Tenant shall be entitled to a one-time tenant improvement allowance (the “General Allowance”) in the amount of Sixty-Five Dollars ($65.00) for each rentable square foot of the Premises (i.e., $9,759,815.00) for the costs relating to the initial design (including consultant and project management fees), permitting and construction of Tenant’s improvements which are affixed to the Premises (collectively, the “Tenant Improvements”) and for the “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2(a) below, plus a one-time demolition allowance (the “Demolition Allowance”) in the amount of Five Dollars ($5.00) for each rentable square foot of the Premises (i.e., $750,755.00) only for the costs relating to the demolition of existing improvements, plus a one-time bathroom upgrade allowance (the “Restroom Allowance”) in the amount of One Dollar ($1.00) for each rentable square foot of the Premises (i.e., $150,151.00) only for the costs relating to any upgrades required to the restrooms within the Building when upgrades are required to cause the same to be compliance with applicable Laws. The General Allowance, Demolition Allowance and Restroom Allowance shall collectively be referred to herein as the “Tenant Improvement Allowance”. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance except as expressly provided in this Work Letter. Tenant shall have no claim for any Tenant Improvement Allowance, and Landlord shall have no obligation to reimburse Tenant for any Tenant Improvement costs, that have not been requested in writing by the date which is twenty-four (24) months following the Delivery Date.
Tenant Allowances. (A) Landlord shall provide to Tenant an allowance equal to the product of (i) $28.00 and
Tenant Allowances. Provided Tenant is not in default under the terms of the Lease, has taken possession of the Premises and paid the Base Rent due for the initial one (1) month of the Term, Landlord shall provide and pay to Tenant the following allowances:
Tenant Allowances. Solely with respect to the Future Advance (TI/LCs), in connection with any Tenant Improvement Work performed or to be performed by the tenant under a Lease and Borrower’s obligation thereunder is to pay to such tenant an allowance (all as more specifically provided for in each Lease), Borrower shall (i) provide Administrative Agent with the Lease and identify the section of such Lease detailing the requirements and conditions to Borrower’s obligation to fund under such Lease (together with evidence reasonably satisfactory to Administrative Agent that each of the material conditions has been satisfied), (ii) to the extent Borrower has the right to receive or request the same under such Lease, Borrower shall deliver a budget for such Tenant Improvement Work to Administrative Agent prior to making the first request of a Future Advance with respect to the applicable Tenant Improvement Allowance, together with the plans and specifications for such work, (iii) certify in writing that the conditions have been satisfied and that Borrower is obligated to disburse the funds to the Tenant under such Lease, (iv) use commercially reasonable efforts to cause Tenant to perform all Tenant Improvement Work that is the subject of the Tenant Improvement Allowance in accordance with the Lease and (v) deliver to Administrative Agent, concurrently with the request for any Future Advance, all of the materials delivered by the applicable tenant to Borrower in connection with such Future Advance.
Tenant Allowances. 38.1 Tenant will be provided with an Architectural Allowance (“Architectural Allowance”) of $0.10 per square foot from Landlord. Tenant will provide Landlord with receipts for payment and Landlord will reimburse Tenant for its architectural costs, in an amount not to exceed the Architectural Allowance, within thirty (30) days after receipt of Tenant’s invoices therefor provided such invoices are not in dispute.
38.2 Tenant will be provided with a moving allowance (“Moving Allowance”) of $7.00 per square foot to be used for Tenant relocation to the Premises. Tenant will provide Landlord with receipts for payment and Landlord will reimburse Tenant for its moving costs, in an amount not to exceed the Moving Allowance, within thirty (30) days after receipt of Tenant’s invoices therefor provided such invoices are not in dispute. In the event that any Moving Allowance is unused following the completion of the move, Tenant can apply the remainder as a credit against rent.
Tenant Allowances. The Tenant shall have an allowance for the completion of the following Landlord Improvements that the Landlord anticipates the Tenant will require for its proposed use of the Premises:
Tenant Allowances. Seller waives any right to receive payment or repayment for any unused tenant improvement or other inducement allowance provided to Tenant under the Lease. This Section 7.20 shall survive Closing.
Tenant Allowances. Landlord shall provide Tenant with a construction allowance as set forth in Section 39 of the Lease. The Tenant Regular Allowance and the Tenant Special Allowance shall be collectively referred to as the "Tenant Allowances. "
Tenant Allowances. Tenant shall be entitled to a tenant improvement allowance (the “Tenant Improvement Allowance”) in the amount of Seventy Dollars ($70.00) for each rentable square foot of the entire Premises ($10,160,850), for the costs relating to the design (including consultant and project management fees), permitting and construction of Tenant’s improvements which are affixed to the Premises or the Building (collectively, the “Tenant Improvements”) and for the “Tenant Improvement Allowance Items,” as that term is defined in Section 2.2(a) below. Tenant may apply Tenant Improvement Allowance towards the cost of any Tenant Improvement Allowance Items as such costs are incurred and shall not be required to allocate the Tenant Improvement Allowance proportionately among the Suites. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance except as expressly provided in this Work Letter. 2.2
Tenant Allowances. Amounts due from Seller under the Leases (other than Leases or Lease modifications approved by Buyer under Section 6), but unpaid as of the Closing Date, shall be credited to Buyer on the Closing Date, and at Closing, Buyer shall assume the liability for payment thereof, to pay for:
(1) tenant improvements commenced prior to the Closing Date;
(2) Leasing commissions (excluding any commissions which may be due after the Effective Date with respect to options, extensions, expansions or renewals); and
(3) with respect to a Lease for Suite 410 at the Glendale Property, which Seller anticipated leasing prior to the Effective Date, Buyer shall be credited for an amount equal to (x) $68,588.10 for leasing commissions, (y) $163,305.00 for tenant improvements to be performed prior to the commencement of such Lease, irrespective of when or whether such improvements commence, and (z) $114,313.50, for an amount equal to six months of rent which would have been due under such Lease, but offset by an amount equal to $38,104.50 if Suite 710 at the Glendale Property is leased prior to the Closing Date; each of which such credits compensate Buyer for amounts which would have been the obligation of Seller had such Lease been entered into prior to the Effective Date.
