Common use of Tenant Improvements and Allowance Clause in Contracts

Tenant Improvements and Allowance. In consideration of the extension of the current term of the Lease, Lessor shall provide a tenant improvement allowance up to a maximum of One Hundred Fifty-six Thousand Four Hundred Eight-eight Dollars ($ ) (the actual disbursed amount of the tenant improvement allowance is hereinafter referred to as “Tenant Improvement Allowance”). The Tenant Improvement Allowance shall be used to construct alterations, additions and improvements to the Premises (hereinafter referred to as the “Tenant Improvements”) that are more particularly described in the plans and specifications attached hereto as Exhibit A and made a part hereof. Any material modification or amendment of the plans and specifications in Exhibit A shall require the prior written consent of Lessor before installation in the Premises. The Tenant Improvement Allowance shall be paid to Lessee in a single disbursement which shall be due within thirty (30) days after Lessee has satisfied each of the following conditions precedent. a. Lessee shall have furnished to Lessor copies of all invoices and other supporting documentation which indicates the actual costs incurred for the construction of the Tenant improvements. b. Lessee shall have furnished to Lessor properly executed mechanic’s lien releases from all persons or entities that might be able to claim a mechanic’s lien on account of the Tenant Improvements. c. Lessee shall have furnished to Lessor a copy of the final certificate of occupancy, if any, for the Tenant Improvements. Lessor shall have no obligation to disburse funds in excess of the maximum amount of the Tenant Improvement Allowance or to make the single disbursement of the Tenant Improvement Allowance if Lessee has not satisfied the conditions precedent described above on or before December 1, 2010. Further, Lessor shall not be obligated to disburse all or any part of the Tenant Improvement Allowance if an event of default has occurred under the Lease or an event has occurred, which with notice or lapse of time, or both, would constitute an event of default under the Lease. Any costs and expenses of the Tenant Improvements in excess of the Tenant Improvement Allowance shall be paid solely by Lessee. Lessee shall procure all necessary licenses, permits, approvals and authorizations for the Tenant Improvements, and shall promptly and diligently construct the Tenant Improvements in a good and workmanlike manner. Except as otherwise provided herein, all Tenant Improvements shall be subject to the provisions of Section 6.10 of the Lease.

Tenant Improvements and Allowance. In consideration Tenant, following the delivery of the extension Premises by Landlord and the full and final execution and delivery of the current term of Lease to which this Work Letter is attached and all prepaid rental and security deposits required under such agreement, shall have the Lease, Lessor shall provide a tenant improvement allowance up right to a maximum of One Hundred Fifty-six Thousand Four Hundred Eight-eight Dollars ($ ) (the actual disbursed amount of the tenant improvement allowance is hereinafter referred to as “Tenant Improvement Allowance”). The Tenant Improvement Allowance shall be used to construct alterations, additions perform alterations and improvements to in the Premises (hereinafter referred to as the “Tenant Improvements”) that are more particularly described ). Notwithstanding the foregoing, Tenant and its contractors shall not have the right to perform Tenant Improvements in the plans Premises unless and specifications attached hereto as Exhibit A and made a part hereof. Any material modification or amendment until Tenant has complied with all of the terms and conditions of Section 6 of the Lease, including, without limitation, approval by Landlord of the final plans for the Tenant Improvements and specifications the contractors to be retained by Tenant to perform such Tenant Improvements; provided, however, that Landlord’s approval, which shall not be unreasonably withheld, shall only be required for contractors and subcontractors that perform work that affects the Building’s structure or systems. Landlord hereby approves the following contractors as Tenant’s general contractor for the Tenant Improvements: DPR Construction, Xxxx Xxxxx Construction or GCI Construction. Tenant shall be responsible for all elements of the design of Tenant’s plans (including, without limitation, compliance with law, functionality of design, the structural integrity of the design, the configuration of the premises and the placement of Tenant’s furniture, appliances and equipment), and Landlord’s approval of Tenant’s plans shall in Exhibit A no event relieve Tenant of the responsibility for such design. Landlord’s approval of the contractors to perform the Tenant Improvements shall require the prior written consent of Lessor before installation in the Premisesnot be unreasonably withheld. The Tenant Improvement Allowance shall be paid to Lessee in a single disbursement which shall be due within thirty (30) days after Lessee has satisfied each parties agree that Landlord’s approval of the following conditions precedent. a. Lessee general contractor to perform the Tenant Improvements shall not be considered to be unreasonably withheld if any such general contractor (i) does not have furnished trade references reasonably acceptable to Lessor copies Landlord, (ii) does not maintain insurance as required pursuant to the terms of all invoices and other supporting documentation which indicates this Lease, (iii) does not have the actual costs incurred ability to be bonded for the construction work in an amount of no less than 150% of the Tenant improvements. b. Lessee shall have furnished to Lessor properly executed mechanic’s lien releases from all persons or entities that might be able to claim a mechanic’s lien on account total estimated cost of the Tenant Improvements. c. Lessee shall have furnished , (iv) does not provide current financial statements reasonably acceptable to Lessor Landlord, or (v) is not licensed as a copy contractor in the state/municipality in which the Premises is located. Tenant acknowledges the foregoing is not intended to be an exclusive list of the final certificate of occupancy, if any, for the Tenant Improvements. Lessor shall have no obligation reasons why Landlord may reasonably withhold its consent to disburse funds in excess of the maximum amount of the Tenant Improvement Allowance or to make the single disbursement of the Tenant Improvement Allowance if Lessee has not satisfied the conditions precedent described above on or before December 1, 2010. Further, Lessor shall not be obligated to disburse all or any part of the Tenant Improvement Allowance if an event of default has occurred under the Lease or an event has occurred, which with notice or lapse of time, or both, would constitute an event of default under the Lease. Any costs and expenses of the Tenant Improvements in excess of the Tenant Improvement Allowance shall be paid solely by Lessee. Lessee shall procure all necessary licenses, permits, approvals and authorizations for the Tenant Improvements, and shall promptly and diligently construct the Tenant Improvements in a good and workmanlike manner. Except as otherwise provided herein, all Tenant Improvements shall be subject to the provisions of Section 6.10 of the Leasegeneral contractor.

Tenant Improvements and Allowance. In consideration Following and subject to the substantial completion of permanent improvements to the Leased Premises by Tenant, Landlord shall make available to Tenant a tenant improvement allowance of up to $481,500.00 (the “TI Allowance ”) for the hard costs for improvements in the Leased Premises desired by and performed by Tenant and which improvements shall be of a fixed and permanent nature (the “Tenant Improvements ”). The term “hard costs" shall mean the actual third party out of pocket costs and expenses for construction and demolition which Tenant incurs for the Tenant Improvements including third-party architectural fees paid by Xxxxxx and properly documented tradepersons employed by Tenant, but which shall in no event include any other fees including in-house charges or fees Tenant acknowledges that (i) the Tenant Improvements shall be constructed pursuant to space plans mutually agreed upon by Landlord and Tenant pursuant to this paragraph, and (ii) upon the expiration of the extension of the current term Term of the Lease, Lessor the Tenant Improvements shall provide a tenant improvement allowance up become the property of Landlord and Tenant shall not be obligated to a maximum of One Hundred Fifty-six Thousand Four Hundred Eight-eight Dollars ($ ) (remove, and may not remove, the actual disbursed amount Tenant Improvements at any time during the lease term including upon the expiration or earlier termination of the tenant improvement allowance is hereinafter referred Lease. Tenant shall deliver to as “Landlord space plans detailing Tenant’s requirements for the Tenant Improvement Improvements following the preparation of the same by Xxxxxx’s architect. Not more than ten (10) days thereafter, Landlord shall deliver to Tenant either written consent to the space plans, which consent of the space plans shall not be unreasonably withheld, conditioned or delayed, or the written objections, questions or comments of Landlord with regard to the space plans. The parties shall promptly meet and confer and negotiate in good faith to reach agreement on any disputed matters. Tenant shall cause the space plans to be revised to address any reasonable Landlord- requested changes and shall resubmit said space plans to Landlord for approval within five (5) business days thereafter. Such process shall continue until Landlord has reasonably approved the space plans. The foregoing process also shall apply to Tenant’s preparation of final plans and specifications which describe the Tenant Improvements and are based on the approved space plans, and Landlord’s approval of the final plans and specifications shall not be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the contrary contained herein, Tenant shall not have the right to use the TI Allowance to purchase and install within the Premises furnishings, cubicles and other personal property and non-Building system materials and equipment, including, but not limited to, Xxxxxx’s voice or data lines or cabling. Except for the TI Allowance”), Tenant shall be solely responsible for all of the costs of the Tenant Improvements. The Tenant Improvement Allowance Improvements shall be treated in accordance with Section 16 of the Lease. Prior to the commencement of construction of the Tenant Improvements, Tenant shall deliver to Landlord a copy of any contract with Xxxxxx’s contractors (including the architect), and certificates of insurance from any contractor performing any part of the Tenant Improvements evidencing industry standard commercial general liability, automotive liability, “builder’s risk”, and workers’ compensation insurance. Tenant shall cause the general contractor to provide a certificate of insurance naming Tenant, Landlord, and Landlord’s lender (if any) as additional insureds for the general contractor’s liability insurance. Coverage will be provided in an amount not less than $300,000 per occurrence and $1,000,000 aggregate. The amount of Landlord’s contribution shall be used to construct alterationsreimburse Tenant dollar for dollar for Tenant’s actual out-of-pocket expenditures for the hard cost of Tenant Improvements, additions and improvements to the Premises (hereinafter referred extent of Tenant’s actual expenditures and up to as the “maximum amount of $481,500.00. Upon the substantial completion of the Tenant Improvements”) , as certified by Xxxxxx’s architect, Tenant shall submit to Landlord its request for payment, contractors’ sworn statements, final lien waivers, copies of municipal inspection reports and approvals, and such other evidence as Landlord may reasonably request, to evidence that are more particularly described the Tenant Improvements have been completed and that the costs set forth in the plans and specifications attached hereto as Exhibit A and made a part hereofrequest for payment relate solely to the hard cost of such tenant improvements. Any material modification or amendment of the plans and specifications in Exhibit A Landlord shall require the prior written consent of Lessor before installation in the Premises. The then issue its reimbursement payment to Tenant Improvement Allowance shall be paid to Lessee in a single disbursement which shall be due within thirty (30) days after Lessee has satisfied each Xxxxxxxx’s receipt and approval of the following conditions precedent. a. Lessee documentation supplied by Tenant, which approval shall have furnished not be unreasonably withheld. Notwithstanding the foregoing or anything contained in this Lease to Lessor copies of all invoices and other supporting documentation which indicates the actual costs incurred for contrary, once Xxxxxx has received the construction of the Tenant improvements. b. Lessee shall have furnished to Lessor properly executed mechanic’s lien releases from all persons or entities that might be able to claim a mechanic’s lien on account of the Tenant Improvements. c. Lessee shall have furnished to Lessor a copy of the final certificate of occupancy, if any, for the Tenant Improvements. Lessor shall have no obligation to disburse funds in excess of the maximum required amount of the Tenant Improvement Allowance or to make for the single disbursement payment of the Tenant Improvement Allowance if Lessee has not satisfied the conditions precedent described above on or before December 1, 2010. Further, Lessor shall not be obligated to disburse all or any part of the Tenant Improvement Allowance if an event of default has occurred under the Lease or an event has occurred, which with notice or lapse of time, or both, would constitute an event of default under the Lease. Any hard costs and expenses of the Tenant Improvements that have been constructed by Tenant within the Leased Premises as provided above, Tenant shall not be entitled to receive any additional funds from Landlord to complete the construction of any remaining Tenant Improvements or any other improvements within the Leased Premises, all of which shall be paid in excess full by Tenant at Tenant's sole cost and expense thereafter. Landlord shall not be responsible for Tenant’s progress toward completion of the Tenant Improvement Allowance shall be paid solely by Lessee. Lessee shall procure all necessary licenses, permits, approvals Improvements and authorizations for any delay in completion or other reason pertaining to the Tenant Improvements, and shall promptly and diligently construct the Tenant Improvements in a good and workmanlike manner. Except as otherwise provided herein, all construction of said Tenant Improvements shall be subject to not affect or delay the provisions payment of Section 6.10 of the Leaserent hereunder.

Tenant Improvements and Allowance. In consideration of the extension of the current term of the Lease, Lessor shall provide a tenant improvement allowance up Landlord hereby understands and agrees that Tenant desires to a maximum of One Hundred Fifty-six Thousand Four Hundred Eight-eight Dollars ($ ) (the actual disbursed amount of the tenant improvement allowance is hereinafter referred to as “Tenant Improvement Allowance”). The Tenant Improvement Allowance shall be used to construct alterations, additions and make certain additional leasehold improvements to the Premises in Tenant’s reasonable discretion (hereinafter referred to as the “"Tenant Improvements”"). Tenant hereby agrees that any such Tenant Improvements shall be approved by Landlord and constructed by Tenant in accordance with the terms and conditions set forth in Section 8 of the Lease. Landlord shall reimburse Tenant for its actual costs of completing the Tenant Improvements, up to an amount equal to $396,877.50 as and for a construction allowance (the "Allowance") that are more particularly described for use by Tenant in the plans and specifications attached hereto as Exhibit A and made a part hereof. Any material modification or amendment of the plans and specifications in Exhibit A shall require the prior written consent of Lessor before installation in the Premises. The Tenant Improvement Allowance shall be paid to Lessee in a single disbursement which shall be due within thirty (30) days after Lessee has satisfied each of the following conditions precedent. a. Lessee shall have furnished to Lessor copies of all invoices and other supporting documentation which indicates the actual costs incurred for the construction of the Tenant improvements. b. Lessee shall have furnished to Lessor properly executed mechanic’s lien releases from all persons or entities that might be able to claim a mechanic’s lien on account performance of the Tenant Improvements.. The parties hereby further agree as follows: c. Lessee (a) The Allowance shall have furnished to Lessor a copy of the final certificate of occupancy, be payable if any, for the applicable within ten (10) business days after Tenant (i) has completed its Tenant Improvements. Lessor shall have no obligation , (ii) has furnished evidence reasonably satisfactory to disburse funds Landlord of such completion (including without limitation, visual inspections by Landlord, the local fire department and any other applicable government agencies and representatives, required building permits, occupancy permits and all other permits required by Law, and Tenant's certificates of insurance) and payment in excess of the maximum amount full of the Tenant Improvement Allowance or to make Improvements as they are completed (including full lien waivers from Tenant's general contractor and other contractors as applicable), and no liens have attached as the single disbursement of the Tenant Improvement Allowance if Lessee has result thereof, and (iii) is not satisfied the conditions precedent described above on or before December 1, 2010. Further, Lessor shall not be obligated to disburse all or any part of the Tenant Improvement Allowance if an event of default has occurred under the Lease or an event has occurred, which with notice or lapse of time, or both, would constitute an event of otherwise in default under the Lease. Any costs Landlord shall have the right to set-off and expenses deduct from the Allowance any sums past due Landlord from Tenant. Tenant agrees that no part or portion of the Allowance shall vest in Tenant nor shall Tenant sell, assign, encumber or create a security interest in the Allowance. (b) The Allowance may be used for the cost of (x) all space planning, design, architectural, engineering, consulting or review services, construction management, and construction drawings, and (y) demolition work and construction of the Tenant Improvements in excess Improvements. Additionally, up to $88,195.50 of the Tenant Improvement Allowance shall may be paid solely by Lessee. Lessee shall procure all necessary licenses, permits, approvals and authorizations used for the Tenant Improvementsactual costs of (i) cabling the Premises for voice and data, (ii) installation of security systems, including card-key access to the Premises, (iii) signage on the Monument Sign as described in Section 1(j) of the Lease, (iv) moving expenses, including the installation of furniture and equipment in the Premises, and shall promptly and diligently construct the Tenant Improvements in a good and workmanlike manner. Except as otherwise provided herein, all Tenant Improvements shall be subject (v) modifications to the provisions of Leased FF&E retained by Tenant pursuant to Section 6.10 35 of the Lease. (c) The Allowance made available to Tenant under Section 3 of this Work Letter must be utilized by Tenant for its intended purposes no later than that date which is one (1) year from the Commencement Date, or the Allowance shall be forfeited by Tenant with no further obligation on the part of Landlord.