Common use of Tenant Improvement Allowance Clause in Contracts

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Allowance (as defined in Section 12 of the Summary) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the ‘Tenant Improvements”). 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 to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant.

Appears in 4 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

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Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Expansion Premises Allowance (as defined in Section 12 Paragraph 9 of the Summarythis Amendment) for the costs relating to the initial design and construction of Tenant’s 's improvements, which are permanently affixed to the Expansion Premises (the Tenant Improvements”). 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 Expansion Premises Allowance, except to the extent specifically required by the terms of the this Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Expansion Premises Allowance has been utilized shall be deemed Landlord’s 's property under the terms of the Lease. In the event that Tenant shall fail fails to use the entire Tenant Improvement Expansion Premises Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Expansion Premises Allowance is to be applied to Tenant Improvements covering the entirety of the Expansion Premises such that, following the completion of the Tenant Improvements, the entire Expansion Premises has been built out by Tenant.

Appears in 3 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Allowance (as defined in Section 12 of the Summary) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the Tenant Improvements”). 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 to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant.

Appears in 2 contracts

Samples: Office Lease (CrowdStrike Holdings, Inc.), Office Lease (CrowdStrike Holdings, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Expansion Premises Allowance (as defined in Section 12 Paragraph 9 of the Summarythis Amendment) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Expansion Premises (the Tenant Improvements”). 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 Expansion Premises Allowance, except to the extent specifically required by the terms of the this Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Expansion Premises Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail fails to use the entire Tenant Improvement Expansion Premises Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Expansion Premises Allowance is to be applied to Tenant Improvements covering the entirety of the Expansion Premises such that, following the completion of the Tenant Improvements, the entire Expansion Premises has been built out by Tenant.

Appears in 2 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Allowance (as defined in Section 12 of the Summary) for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the Tenant Improvements”). 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 to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant.

Appears in 2 contracts

Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to the a one-time tenant improvement allowance (the “Tenant Improvement Allowance (as defined Allowance”) in the amount set forth in Section 12 5 of the Summary) Summary for the costs relating to the initial design and construction of Tenant’s improvements, which are permanently affixed to the Premises (the Tenant Improvements”), except as otherwise provided herein. In Except as set forth herein, 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 to . In the extent specifically required event that the Tenant Improvement Allowance is not fully utilized by Tenant on or before the terms of date that occurs twelve (12) months following the Lease Commencement Date, then such unused amounts shall revert to Landlord, and this Tenant Work Lettershall have no further rights with respect thereto. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized made available shall be deemed Landlord’s property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord Lease and Tenant shall have no claim not be required to any such unused amounts. Tenant acknowledges that remove the Tenant Improvement Allowance is to be applied to Tenant Improvements covering upon the entirety expiration of earlier termination of the Premises such that, following the completion of the Lease Term. “Tenant Improvements” shall not include any Tenant trade fixtures, the entire Premises has been built out by Tenantequipment, or Tenant personal property.

Appears in 1 contract

Samples: Lease (Sorrento Therapeutics, Inc.)

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Tenant Improvement Allowance. Tenant shall be entitled to the a one-time ---------------------------- tenant improvement allowance (the "Tenant Improvement Allowance (as defined Allowance") in Section 12 the amount of $27.00 per usable square foot of the Summary) Premises for the costs relating to the initial design and construction of Tenant’s improvements, 's improvements which are permanently affixed to the Premises (the "Tenant Improvements"). In addition, Landlord shall contribute an amount not to exceed $0.12 per usable square foot of the Premises ("Landlord's Drawing Contribution") toward the cost of one (1) preliminary space plan to be prepared by "Architect," as that term is defined in Section 3.1, below, and no portion of the Landlord's Drawing Contribution remaining, if any, following the completion of construction of the Tenant Improvements shall be available for use by Tenant. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the sum of the Tenant Improvement Allowance, except to the extent specifically required by the terms of the Lease Allowance and this Tenant Work LetterLandlord's Drawing Contribution. All Tenant Improvements for which the Tenant Improvement Allowance has been utilized made available shall be deemed Landlord’s 's property under the terms of the Lease. In the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenant.

Appears in 1 contract

Samples: Temporary Space Agreement (Ecommercial Com Inc)

Tenant Improvement Allowance. Tenant shall be entitled to the one-time Tenant Improvement Expansion Premises Allowance (as defined in Section 12 Paragraph 9 of the Summarythis Amendment) for the costs relating to the initial design and construction of Tenant’s 's improvements, which are permanently affixed to the Expansion Premises (the Tenant Improvements”). 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 Expansion Premises Allowance, except to the extent specifically required by the terms of the this Lease and this Tenant Work Letter. All Tenant Improvements for which the Tenant Improvement Expansion Premises Allowance has been utilized shall be deemed Landlord’s 's property under the terms of the Lease. In the event that Tenant shall fail Xxxxxx fails to use the entire Tenant Improvement Expansion Premises Allowance within one (1) year following the Delivery Date, such unused amounts shall be the sole property of Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Expansion Premises Allowance is to be applied to Tenant Improvements covering the entirety of the Expansion Premises such that, following the completion of the Tenant Improvements, the entire Expansion Premises has been built out by Tenant.

Appears in 1 contract

Samples: Office Lease (Recursion Pharmaceuticals, Inc.)

Tenant Improvement Allowance. Tenant shall be entitled to an improvement allowance (the one-time "Tenant Improvement Allowance (as defined Allowance") in the amount set forth in Section 12 13 of the Summary) Summary for the costs relating to the initial design and construction of Tenant’s improvements, the improvements which are permanently affixed to the Premises (the "Tenant Improvements"). The Tenant Improvements shall be constructed on a floor by floor basis, with floors 1 and 2 of the Building constructed concurrently, and floor 3 of the Building constructed separately. In no event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in the event that Tenant fails to immediately pay any portion of the "Over-Allowance Amount," as defined in Section 4.2.1, nor shall Landlord be obligated to pay a total amount which exceeds the Tenant Improvement Allowance. Notwithstanding the foregoing or any contrary provision of this Lease, except to the extent specifically required by the terms of the Lease and this Tenant Work Letter. All all Tenant Improvements for which the Tenant Improvement Allowance has been utilized shall be deemed Landlord’s 's property under the terms of the this Lease. In Any unused portion of the event that Tenant shall fail to use the entire Tenant Improvement Allowance within one (1) year following remaining as of the Delivery Lease Commencement Date, such unused amounts shall be the sole property of remain with Landlord and Tenant shall have no claim to any such unused amounts. Tenant acknowledges that the Tenant Improvement Allowance is to be applied to Tenant Improvements covering the entirety of the Premises such that, following the completion of the Tenant Improvements, the entire Premises has been built out by Tenantfurther right thereto.

Appears in 1 contract

Samples: Office Lease (Roku, Inc)

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