Tenant Improvement Cost. 3.1 The cost of the Tenant Improvements shall be paid for by Tenant, including, without limitation, the cost of: Standards; space plans and studies; architectural and engineering fees; permits, approvals and other governmental fees; labor, material, equipment and supplies; construction fees and other amounts payable to contractors or subcontractors; taxes; off-site improvements; remediation and preparation of the Premises for construction of the Tenant Improvements; taxes; filing and recording fees; premiums for insurance and bonds; attorneys' fees; financing costs; and all other costs expended or to be expended in the construction of the Tenant Improvements. Tenant shall reimburse Landlord for actual expenses, estimated to be approximately $1,500, which Landlord may incur in connection with the Tenant Improvements.
3.2 Provided Tenant is not in material default under the Lease, including this Improvement Agreement, Landlord shall contribute a one-time tenant improvement allowance not to exceed $100,000 ("TENANT IMPROVEMENT ALLOWANCE") toward the cost of the initial Tenant Improvements. Provided Tenant is not then in material default under the Lease, including this Improvement Agreement, Landlord shall disburse the Tenant Improvement Allowance to Tenant upon completion of construction of the Tenant Improvements and expiration of the time for filing of any mechanics' liens claimed or which might be filed on account of any work ordered by Tenant or its contractor or any subcontractor, and upon receipt by Landlord of a certificate of completion executed by the Space Planner and Tenant's contractor, and unconditional mechanics' lien releases (which mechanics' lien releases shall be executed by the subcontractors, labor suppliers and materialmen in addition to Tenant's contractor), in each case in form and substance reasonably satisfactory to Landlord, and all appropriate bills and supporting documentation for the work ordered by Tenant or its contractor or any subcontractor.
3.3 No credit shall be given to Tenant if the cost of the Tenant Improvements is less than the Tenant Improvement Allowance.
Tenant Improvement Cost. 4.1. Except for the Tenant Improvement Allowance (defined below), the cost of the Tenant Improvements shall be paid for by Tenant, including, without limitation, the cost of: space plans and studies; architectural and engineering fees; permits, approvals and other governmental fees; labor, material, equipment and supplies; construction fees and other amounts payable to contractors or subcontractors; taxes; sales taxes on materials used; filing and recording fees; premiums for insurance and bonds, and all other costs expended or to be expended in the construction of the Tenant Improvements to the extent approved by Tenant pursuant to Section 4.4 below. To the extent that any services performed pursuant to this Agreement are performed by a party affiliated with Landlord, the costs and fees charged by such affiliated entity must be equivalent to those costs or fees charged by a non-affiliated entity involved in an arms-length transaction with Landlord.
4.2. Provided Tenant is not in default (following notice and passage of the applicable cure period) under the Lease, including this Improvement Agreement, Landlord shall contribute a one-time tenant improvement allowance not to exceed $28.00 per rentable square foot, or $700,000.00 based upon 25,000 rentable square feet (which may be adjusted per Section l(c), (“Tenant Improvement Allowance”) to be credited by Landlord toward the cost of the initial Tenant Improvements. If the cost of the Tenant Improvements exceeds the Tenant Improvement Allowance, and Tenant has approved such excess in writing, Tenant shall pay Landlord such excess cost within twenty (20) business days following Substantial Completion. If the final cost of construction is less than the Tenant Improvement Allowance, Landlord shall credit the unused balance against Tenant’s rent obligation.
4.3. If Tenant requests any change(s) in the Plans after approval of the estimate of the cost of the Tenant Improvements and any such requested changes are approved by Landlord in writing in Landlord’s sole discretion, Landlord shall advise Tenant promptly of any cost increases and/or delays such approved change(s) will cause in the construction of the Tenant Improvements. Tenant shall approve or disapprove any or all such change(s) within three (3) business days after notice from Landlord of such cost increases and/or delays. To the extent Tenant disapproves any such cost increase and/or delay attributable thereto, Landlord shall have the right, in its sole...
Tenant Improvement Cost. 4.1 The cost of the Tenant Improvements shall be paid for by Tenant, including, without limitation, the cost of: Standards; space plans and studies; architectural and engineering fees; permits, approvals and other governmental fees; labor, material, equipment and supplies; construction fees and other amounts payable to contractors or subcontractors; taxes; off-site improvements; remediation and preparation of the Premises for construction of the Tenant Improvements; taxes; filing and recording fees; premiums for insurance and bonds; attorneys' fees; financing costs; and all other costs expended or to be expended in the construction of the Tenant Improvements.
Tenant Improvement Cost. Upon Sublessor's and Master Lessor's written approval of the budget for the Sublessee Improvements ("Sublessee Improvement Budget") furnished by the Sublessee's General Contractor (as defined in Article 5 of the Master Lease), Sublessee shall furnish a copy of the Sublessee Improvement Budget (as defined in Section 5.C. of the Master Lease) to Sublessor and Master Lessor. Thereafter, Sublessee shall cause the General Contractor to proceed with the construction of the Sublessee Improvements in accordance with the terms of Section 5.B. of the Master Lease. Pursuant to Section 5.C. of the Master Lease, Master Lessor agreed to provide to Sublessor a work allowance ("Sublessor's Work Allowance") to be utilized by Sublessor for the construction of its tenant improvements in the Premises, in the amount of One Million Six Hundred Eighty-Seven Thousand One Hundred and No/100 Dollars ($1,687,100.00). Sublessor, upon receipt of such sums from Master Lessor pursuant to the provisions of Paragraph 6.B. below, shall make available to Sublessee a work allowance ("Sublessee's Work Allowance") in the amount of Twenty-Five and No/100 Dollars ($25.00) per rentable square foot of the Subleased Premises, or One Million Six Hundred Sixty-Seven Thousand One Hundred and No/100 ($1,667,100.00), to be used in connection with Sublessee's construction of the Sublessee Improvements. The remainder of the Sublessor's Work Allowance, in the amount of Thirty Cents ($0.30) per rentable square foot, or Twenty Thousand and No/100 Dollars ($20,000.00), shall be paid by Master Lessor to Sublessor as reimbursement for Sublessor's costs incurred for architectural and planning fees in connection with the Premises. Sublessee shall pay all costs associated with the Sublessee Improvements, less the Sublessee's Work Allowance. The cost of the Sublessee Improvements shall consist of only the following to the extent actually incurred by Sublessee in connection with the construction of the Sublessee Improvements: construction costs, all permit fees, construction taxes or other costs imposed by governmental authorities related to the Sublessee Improvements, architectural fees (including the supervision of the design and construction of the Sublessee Improvements), engineering fees, builder's risk insurance, any sales and use taxes, plan check and license fees, alarm and security systems, all testing and inspection costs for the Sublessee Improvements, and the General Contractor overhead and general condi...
Tenant Improvement Cost. The Tenant Improvements cost (“Tenant Improvements Cost”) to be paid from the Tenant Improvements Allowance (or the Additional Allowance) shall include, but not be limited to:
(a) All costs of preliminary and final architectural and engineering plans and specifications for the Tenant Improvements, and engineering costs associated with completion of the State of California energy utilization calculations under Title 24 legislation;
(b) All costs of obtaining building permits and other necessary authorizations for the Tenant Improvements from the City of Palo Alto, other governmental agencies, and Stanford University;
(c) All costs of interior design and finish schedule plans and specifications including as-built drawings;
(d) All direct and indirect costs of constructing and installing the Tenant Improvements, including, but not limited to, the construction fee for overhead and profit and the cost of all on-site supervisory and administrative staff, office, equipment and temporary services rendered by Landlord’s contractor in connection with construction of the Tenant Improvements;
(e) All fees payable to Tenant’s architect, Landlord’s General Contractor and/or Landlord’s architect if they are required to redesign any portion of the Tenant Improvements following Landlord and Tenant’s approval of the Tenant Improvements Plans and Specifications; and
(f) Sewer, water, or other utility or municipal connection fees not included in the Building Shell costs. In no event shall the Tenant Improvements Cost include any costs of procuring, constructing or installing in the Premises any of Tenant’s personal property or Landlord’s general and administrative expense.
Tenant Improvement Cost. The Tenant Improvement Cost shall include, ----------------------- but not be limited to, the following:
(1) all costs of preliminary and final architectural and engineering plans and specifications for the Tenant Improvements, and engineering costs associated with completion of the State of California energy utilization calculations under Title 29 legislation;
(2) all costs of interior design and finish schedule plans and specifications including the General Contractor's as-built drawings;
(3) all direct and indirect costs of procuring and installing Tenant Improvements in the Premises, including the approved construction fee for overhead and profit payable to the General Contractor, and the cost of general conditions to be provided by the General Contractor; and
(4) all fees payable to the Architect and Landlord's engineering firm, if required by Landlord and Tenant to re-design any portion of the Tenant Improvements following Tenant's and Landlord's approval of the Construction Drawings. In no event will the Tenant Improvement Costs include, nor will the Tenant Improvement Allowance or the Additional Tenant Improvement Allowance be applied to the cost of procuring, constructing or installing in the Premises any of Tenant's personal property, including voice and data equipment and cabling.
Tenant Improvement Cost. Tenant agrees to pay all costs associated with constructing the Tenant Improvements pursuant to the terms of the Construction Contract. Tenant shall pay all costs incurred as a result of any change orders signed by Tenant affecting the Final Plans. Tenant agrees that the Tenant Improvements and all other costs Tenant incurs relating to such improvements, including, without limitation, architectural and legal fees, permits and insurance shall not be less than One Million Dollars ($1,000,000).
Tenant Improvement Cost. The cost of the Tenant Improvements shall be paid for by Tenant, including, without limitation, the cost of: Plans and studies; architectural and engineering fees; consulting fees in connection with obtaining U.S. Food and Drug Administration approval for the operation of the Permitted Use from the Premises; permits, approvals and other governmental fees; labor, material, equipment and supplies; construction fees and other amounts payable to contractors or subcontractors; taxes; off-site improvements; remediation and preparation of the Premises for construction of the Tenant Improvements; filing and recording fees; premiums for insurance and bonds; code compliance and related expenses triggered as a result of the construction of the Tenant Improvements; attorney's fees; financing costs; and all other costs expended or to be expended in the construction of the Tenant Improvements.
Tenant Improvement Cost. Landlord shall provide Tenant with a written expense summary of its cost of completing the Tenant Improvements prior to the Commencement Date, which cost is referred to as the “Tenant Improvement Cost.”
Tenant Improvement Cost. Tenant agrees to pay all costs associated with constructing the Tenant Improvements pursuant to the terms of the Construction Contract. Tenant shall pay all costs incurred as a result of any change orders signed by Tenant affecting the Final Plans. Tenant agrees that the Tenant Improvements and all other costs Tenant incurs relating to such improvements, including, without limitation, architectural and legal fees, permits and insurance shall not be less than One Million Dollars ($1,000,000). Notwithstanding the foregoing to the contrary, Landlord agrees to reimburse Tenant for the following amounts paid by Tenant to Xxxxx-Xxxxxxxx Construction, Inc.: (i) $35,350.00 for improvements to the parking lot as specified in Northwest Asphalt’s proposal dated April 29, 1996 and (ii) $28,195.00 for upgrades to mechanical and HVAC systems and removal of abandoned equipment. Landlord shall reimburse Tenant for such amounts within ten (10) days after Tenant’s payment of such amounts and notice to Landlord requesting reimbursement. If Landlord fails to so reimburse Tenant, Tenant shall be entitled to offset the amounts due to it from Landlord pursuant to this paragraph 4.1(c) against the next ensuing rent payment(s) due under the Lease.
