Common use of Tenant Funds Clause in Contracts

Tenant Funds. Any additional funds required to complete the cost of the work, that are in excess of or elected by Tenant to be used in place of the Tenant Improvement Allowance, or the Additional TI Allowance shall be considered “Tenant Funds.” The total cost to construct the Tenant Improvements as managed by Landlord and the Project Manager under this Work Letter shall be the “Project Budget.” Landlord understands that at the time it enters into the Guaranteed Maximum Price (GMP) construction contract and establishes the Project Budget, the Tenant Funds amount is an estimate and exact costs will not be known until project closeout. Tenant shall be required, at the time Landlord enters into the GMP construction contract, to provide a purchase order to Landlord for the full estimated amount of the Tenant Funds, provided that Tenant shall not be required to make payment, if any, until the close out of the project and a true up of costs is provided to Tenant. In the event the amount of the Tenant Funds at project closeout are less than the amount agreed upon within the Project Budget, Landlord will only xxxx Tenant for the Tenant Funds that have been utilized. In the event the Tenant Funds exceed the amount agreed upon within the Project Budget, through added scope changes, Tenant shall provide additional purchases orders to Landlord, which will be included in the Tenant Change Request process that Landlord’s representative administers.

Tenant Funds. Any For additional funds required to complete the cost of the work, that are in excess of of, or elected by Tenant to be used in place of the Tenant Improvement Allowance, or and the Additional TI Allowance Allowance, these shall be considered “"Tenant Funds.” " The total cost to construct the Tenant Improvements as managed by Landlord and the Project Manager under this Work Letter shall be the “"Project Budget.” " Landlord understands that at the time it enters into of the agreed upon Guaranteed Maximum Price (GMP) construction contract and establishes the Project Budget), the Tenant Funds amount is an estimate and exact costs will not be known until project closeout. Tenant shall be is required, at the time Landlord enters into of agreement of the GMP construction contractGMP, to provide a 792986.06/WLA 186772-00003/2-28-19/gjn/gjn EXHIBIT B -5- Bayside Area Development, LLC [285 East Grand Avenue] [Unity Biotechnology, Inc.]. purchase order to Landlord for the full estimated amount of the Tenant Funds, provided that Tenant shall not be required to make payment, if any, until the close out of the project and a true up of costs is are provided to Tenant. In the event the amount of the Tenant Funds at project closeout are less than the amount agreed upon within the Project Budget, Landlord will only xxxx bxxx Tenant for the Tenant Funds that have been utilized. In the event the Tenant Funds exceed the amount agreed upon within the Project Budget, through added scope changeschanges requested by Tenant, the Tenant shall provide additional purchases purchase orders to Landlord, which will be included in the Tenant Change Request process that the Landlord’s representative administers.

Tenant Funds. Any For additional funds required to complete the cost of the work, that are in excess of of, or elected by the Tenant to be used in place of the Tenant Improvement Allowance, or and the Additional TI Allowance Allowance, these shall be considered “Tenant Funds.” The total cost to construct the Tenant Improvements as managed by Landlord and the Project Manager EXHIBIT B -10- THE COVE AT OYSTER POINT [First Amendment] [Global Blood Therapeutics, Inc.] under this Work Letter shall be the “Project Budget.” The Landlord understands that at the time it enters into of the agreed upon Guaranteed Maximum Price (GMP) construction contract and establishes the Project Budget), the Tenant Funds amount is an estimate and exact costs will not be known until project closeout. The Tenant shall be is required, at the time Landlord enters into of agreement of the GMP construction contractGMP, to provide a purchase order to the Landlord for the full estimated amount of the Tenant Funds, provided that Tenant shall not be required to make payment, if any, until the close out of the project and a true up of costs is are provided to Tenant. In the event the amount of the Tenant Funds at project closeout are less than the amount agreed upon within the Project Budget, the Landlord will only xxxx the Tenant for the Tenant Funds that have been utilized. In the event the Tenant Funds exceed the amount agreed upon within the Project Budget, through added scope changes, the Tenant shall provide additional purchases orders to the Landlord, which will be included in the Tenant Change Request process that the Landlord’s representative administers.

Tenant Funds. Any For additional funds required to complete the cost of the work, that are in excess of or elected by the Tenant to be used in place of the Tenant Improvement Allowance, or the First Additional TI Allowance Allowance, and the Second Additional TI Allowance, these shall be considered “Tenant Funds.” The total cost to construct the Tenant Improvements as managed by Landlord and the Project Manager under this Work Letter shall be the “Project Budget.” The Landlord understands that at the time it enters into of the agreed upon Guaranteed Maximum Price (GMP) construction contract and establishes the Project Budget), the Tenant Funds amount is an estimate and exact costs will not be known until project closeout. The Tenant shall be is required, at the time Landlord enters into of agreement of the GMP construction contractGMP, to provide a purchase order to the Landlord for the full estimated amount of the Tenant Funds, provided that Tenant shall not be required to make payment, if any, until the close out of the project and a true up of costs is provided to Tenant. In the event the amount of the Tenant Funds at project closeout are less than the amount agreed upon within the Project Budget, the Landlord will only xxxx the Tenant for the Tenant Funds that have been utilized. In the event the Tenant Funds exceed the amount agreed upon within the Project Budget, through added scope changes, the Tenant shall provide additional purchases orders to the Landlord, which will be included in the Tenant Change Request process that the Landlord’s representative administers.