Common use of Tenant Work Allowance Clause in Contracts

Tenant Work Allowance. Landlord shall provide Tenant with an allowance for the costs (the “Allowance Costs”) of constructing Tenant’s Initial Construction in the Leased Premises for Tenant’s initial occupancy (including, without limitation, architectural and engineering fees with respect thereto and costs of cabling, conduits, consulting fees, and Tenant’s furniture, fixtures and equipment) in an amount not to exceed the Tenant Work Allowance set forth in the Basic Lease Information sheet; provided that no more than $10.00 per square foot of Net Rentable Area of the Tenant Work Allowance may be used for architectural and engineering fees and other so-called soft costs. All construction and design costs for the Leased Premises in excess of the Tenant Work Allowance shall be paid for entirely by Tenant, and Landlord shall not provide any reimbursement therefor. The Tenant Work Allowance is sometimes referred to as the “Allowance.” The Allowance shall be disbursed as requisitioned by Tenant not more frequently than monthly, within thirty (30) days after requisition in accordance herewith. For each disbursement, Tenant shall submit a requisition package to Landlord, with an itemization of the costs being requisitioned, a certificate by an officer of Tenant that all such costs are Allowance Costs and have been incurred and paid for by Tenant, and appropriate back up documentation including, without limitation, lien releases (in a form reasonably approved by Landlord) and paid invoices and bills. If the total estimated cost of Tenant’s Initial Construction exceeds the Allowance, Landlord reserves the right to disburse each individual disbursement of the Allowance in the proportion that the Allowance bears to the total estimated cost of Tenant’s Initial Construction, and further reserves the right to withhold disbursement of the last ten percent (10%) of the Allowance until such time as the Tenant’s Initial Construction is completed, and Tenant has provided Landlord with a copy of the final certificate of occupancy for the Leased Premises and completed all construction-related requirements under the Lease. Tenant shall not be entitled to any unused portion of the Tenant Work Allowance that is not requisitioned within one (1) year after the Term Commencement Date. Landlord shall have no obligation to disburse any portion of the Tenant Work Allowance at any time when there exists a default under the Lease (provided that such disbursement shall be made promptly after the event or condition giving rise to such default has been corrected or cured by Tenant).

Tenant Work Allowance. Landlord shall agrees to provide Tenant with an allowance for the costs (the “Allowance CostsTenant Work Allowance”) in the amount of constructing Tenant’s Initial Construction Forty Dollars ($40.00) per square foot of rentable area in the Leased Premises for Tenant’s initial occupancy Premises, to be applied against the actual out-of-pocket third party costs and expenses incurred in connection with the design and construction of the Tenant Work (including, without limitation, including the actual construction costs and architectural and engineering fees incurred in connection therewith); provided, however, a portion of the Tenant Work Allowance, but in no event more than Five Dollars ($5.00) per square foot of rentable area in the Leased Premises, may be applied against the actual out-of-pocket expenses incurred by Tenant in connection with respect thereto telephone and computer cabling and furniture and equipment for the Leased Premises. The Tenant Work Allowance shall not be applied to the costs of cabling, conduits, consulting fees, and Tenant’s any furniture, fixtures and computers, equipment, personal property, or for any other costs other than as provided above. After Tenant has completed fifty percent (50%) in an amount not of the Tenant Work, Tenant shall deliver to exceed Landlord a written request for partial payment of the Tenant Work Allowance set forth in and evidence of satisfaction of the Basic Lease Information sheet; provided following conditions (the “50% Allowance Request”): (a) receipt by Landlord of a signed statement from Tenant and Tenant’s architect certifying that no more than $10.00 per square foot Tenant has completed at least fifty percent (50%) of Net Rentable Area of the Tenant Work and Tenant has incurred out-of-pocket construction and/or design costs for the Tenant Work (for which Tenant has not previously been reimbursed) against which the Tenant Work Allowance may be used applied in the amount requested to be paid from the Tenant Work Allowance (but in no event more than fifty percent of the Tenant Work Allowance); (b) receipt by Landlord of appropriate paid receipts or invoices approved by Tenant and lien waivers in a form satisfactory to Landlord from the contractors and subcontractors performing the Tenant Work, which lien waivers must cover the work for architectural and engineering fees and other so-called soft costs. All construction and design costs which such contractors has then provided (but such lien waivers may be conditioned upon receipt of payment for the Leased Premises work that is the subject of such 50% Allowance Request); and (c) Tenant shall not be in excess default of any term, condition or provision of this Lease. If a complete 50% Allowance Request (complying with the foregoing requirements) is received by Landlord from Tenant, Landlord shall use reasonable efforts to pay to Tenant the amount covered by the 50% Allowance Request, but no more than fifty percent (50%) of the unapplied Tenant Work Allowance, within fifteen (15) days after receipt of the 50% Allowance Request (and satisfaction of the foregoing conditions). After Tenant has substantially completed the Tenant Work, Tenant shall deliver to Landlord a written request for partial payment of the Tenant Work Allowance shall and evidence of satisfaction of the following conditions (the “80% Allowance Request”): (a) receipt by Landlord of a signed statement from Tenant and Tenant’s architect certifying that Tenant has substantially completed the Tenant Work and Tenant has incurred out-of-pocket construction and/or design costs for the Tenant Work (for which Tenant has not previously been reimbursed) against which the Tenant Work Allowance may be applied in the amount requested to be paid from the Tenant Work Allowance (but in no event shall such amount plus any other prior distributions of Tenant Work Allowance be more than eighty percent (80%) of the Tenant Work Allowance); (b) receipt by Landlord of appropriate paid receipts or invoices approved by Tenant and lien waivers in a form satisfactory to Landlord from the contractors and subcontractors performing the Tenant Work, which lien waivers must cover the work for entirely which such contractors has then provided; and (c) Tenant shall not be in default of any term, condition or provision of this Lease. If a complete 80% Allowance Request (complying with the foregoing requirements) is received by Landlord from Tenant, Landlord shall pay to Tenant the amount covered by the 80% Allowance Request, but no more than an amount which when added to the previously distributed Tenant Work Allowance equals eighty percent (80%) of the unapplied Tenant Work Allowance. Landlord shall use reasonable efforts to make such payment within fifteen (15) days after receipt of the 80% Allowance Request (and satisfaction of the foregoing conditions). After Tenant has completed one hundred percent (100%) of the Tenant Work and received all final lien waivers, Tenant shall deliver to Landlord a written request for final payment of the Tenant Work Allowance and evidence of satisfaction of the following conditions (the “Final Allowance Request”): (a) receipt by Landlord of a signed statement from Tenant and Tenant’s architect certifying that Tenant has completed the Tenant Work in accordance with the Plans and Tenant has incurred out-of-pocket construction and/or design costs for the Tenant Work (for which Tenant has not previously been reimbursed) against which the Tenant Work Allowance may be applied in the amount requested to be paid from the Tenant Work Allowance (but in no event more than remainder of the Tenant Work Allowance); (b) receipt by Landlord of an occupancy permit for the Leased Premises, and Tenant’s occupancy of the Leased Premises, (c) receipt by Landlord of appropriate paid receipts or invoices and final lien waivers from all contractor and subcontractors performing any Tenant Work in a form satisfactory to Landlord, and (d) Tenant shall have fully performed all of its obligations under this Work Agreement and not be in default of any monetary provision under the Lease or in Default (as defined in Section 16.01) of any non-monetary monetary provision under the Lease. If a complete Final Allowance Request (complying with the foregoing requirements) is received by Landlord from Tenant, Landlord shall use reasonable efforts to pay to Tenant the amount covered by the Final Allowance Request, but no more than the remaining unapplied Tenant Work Allowance, within fifteen (15) days after receipt of the Final Allowance Request (and satisfaction of the foregoing conditions). Notwithstanding the foregoing, Landlord shall have the right, without the obligation, to apply all or any portion of the undisbursed Tenant Work Allowance to remedy any default by Tenant occurring hereunder; provided, however, it is expressly covenanted and agreed that such remedy by Landlord shall not be deemed to waive, or release, the default of Tenant. In addition, Landlord shall provide any reimbursement therefor. The to Tenant Work Allowance is sometimes referred an allowance, in the amount of Ten Cents ($.10) per rentable square foot of the Leased Premises, to as be applied against the “Allowance.” The Allowance shall be disbursed as requisitioned out-of-pocket expenses incurred by Tenant not more frequently than monthly, in undertaking a test fit for the Leased Premises. Such allowance will be paid to Tenant within thirty (30) days after requisition in accordance herewith. For each disbursement, Tenant shall submit a requisition package to Landlord, with an itemization of completion of such work and receipt by Landlord of invoices substantiating the costs being requisitioned, a certificate by an officer of Tenant that all such costs are Allowance Costs and have been thereof incurred and paid for by Tenant, and appropriate back up documentation including, without limitation, lien releases (in a form reasonably approved by acceptable to Landlord) and paid invoices and bills. If Notwithstanding anything contained in this Paragraph 6 to the contrary, Tenant shall not be required to obtain a lien waiver from any contractor or subcontractor to the extent the total estimated cost of Tenant’s Initial Construction exceeds the Allowancework in, Landlord reserves the right to disburse each individual disbursement of the Allowance in the proportion that the Allowance bears to the total estimated cost of Tenant’s Initial Construction, and further reserves the right to withhold disbursement of the last ten percent (10%) of the Allowance until such time as the Tenant’s Initial Construction is completed, and Tenant has provided Landlord with a copy of the final certificate of occupancy or for the Leased Premises and completed all construction-related requirements under the Lease. Tenant shall not be entitled to any unused portion of the Tenant Work Allowance that provided by such contractor or subcontractor is not requisitioned within one less than Ten Thousand Dollars (1) year after the Term Commencement Date. Landlord shall have no obligation to disburse any portion of the Tenant Work Allowance at any time when there exists a default under the Lease (provided that such disbursement shall be made promptly after the event or condition giving rise to such default has been corrected or cured by Tenant$10,000.00).

Tenant Work Allowance. Landlord shall agrees to provide Tenant with an allowance for ("Tenant Work Allowance") in the costs amount of Thirty-five Dollars (the “Allowance Costs”$35.00) per square foot of constructing Tenant’s Initial Construction rentable area in the Leased Premises for Tenant’s initial occupancy Premises, to be applied against the actual out-of-pocket third party costs and expenses incurred in connection with the design and construction of the Tenant Work (including, without limitation, including the actual construction costs and architectural and engineering fees with respect thereto and costs incurred in connection therewith); provided, however, a portion of cabling, conduits, consulting fees, and Tenant’s furniture, fixtures and equipment) in an amount not to exceed the Tenant Work Allowance set forth Allowance, but in the Basic Lease Information sheet; provided that no event more than Five Dollars ($10.00 5.00) per square foot of Net Rentable Area rentable area in the Leased Premises, may be applied against the actual out-of-pocket expenses incurred by Tenant in connection with the relocation into the Leased Premises, telephone and computer cabling and furniture and equipment for the Leased Premises. The Tenant Work Allowance shall not be applied to the costs of any furniture, computers, equipment, personal property, or for any other costs other than as provided above. If the full amount of the Tenant Work Allowance may has not been used in accordance with the foregoing as of the date the Tenant Work is complete, the balance thereof shall be used for architectural retained by Landlord and engineering fees and other so-called soft costsbe applied against the next installments of Minimum Rent next coming due. All construction and design costs for the Leased Premises in excess of Landlord shall pay the Tenant Work Allowance directly to the contractor(s) performing the Tenant Work. Notwithstanding the foregoing, Landlord shall be paid for entirely have the right, without the obligation, to apply all or any portion of the undisbursed Tenant Work Allowance to remedy any default by TenantTenant occurring hereunder; provided, however, it is expressly covenanted and agreed that such remedy by Landlord shall not be deemed to waive, or release, the default of Tenant. In addition, Landlord shall provide any reimbursement therefor. The to Tenant Work Allowance is sometimes referred an allowance, in the amount of Ten Cents ($.10) per rentable square foot of the Leased Premises, to as be applied against the “Allowance.” The Allowance shall be disbursed as requisitioned out- of-pocket expenses incurred by Tenant not more frequently than monthly, in undertaking a test fit for the Leased Premises. Such allowance will be paid to Tenant within thirty (30) days after requisition in accordance herewith. For each disbursement, Tenant shall submit a requisition package to Landlord, with an itemization of completion of such work and receipt by Landlord of invoices substantiating the costs being requisitioned, a certificate by an officer of Tenant that all such costs are Allowance Costs and have been thereof incurred and paid for by Tenant, and appropriate back up documentation including, without limitation, lien releases (in a form reasonably approved by acceptable to Landlord) and paid invoices and bills. If the total estimated cost of Tenant’s Initial Construction exceeds the Allowance, Landlord reserves the right to disburse each individual disbursement of the Allowance in the proportion that the Allowance bears to the total estimated cost of Tenant’s Initial Construction, and further reserves the right to withhold disbursement of the last ten percent (10%) of the Allowance until such time as the Tenant’s Initial Construction is completed, and Tenant has provided Landlord with a copy of the final certificate of occupancy for the Leased Premises and completed all construction-related requirements under the Lease. Tenant shall not be entitled to any unused portion of the Tenant Work Allowance that is not requisitioned within one (1) year after the Term Commencement Date. Landlord shall have no obligation to disburse any portion of the Tenant Work Allowance at any time when there exists a default under the Lease (provided that such disbursement shall be made promptly after the event or condition giving rise to such default has been corrected or cured by Tenant).

Tenant Work Allowance. Landlord shall provide Tenant with an allowance for the costs (the “Allowance Costs”) of constructing Tenant’s Initial Construction in the Leased Premises for Tenant’s initial occupancy (including, without limitation, architectural and engineering fees with respect thereto and costs of cabling, conduits, consulting fees, and Tenant’s furniture, fixtures and equipmentthereto) in an amount not to exceed the Tenant Work Allowance set forth in the Basic Lease Information sheet; provided that no more than . Tenant may requisition up to $10.00 5 per square foot of Net Rentable Area of the Leased Premises from the Tenant Work Allowance may be used for architectural and engineering fees design and other so-called soft costscosts incurred. All construction and design costs for the Leased Premises in excess of the Tenant Work Allowance shall be paid for entirely by Tenant, and Landlord shall not provide any reimbursement therefor. The Tenant Work Allowance is sometimes referred to as the “Allowance.” The Allowance shall be disbursed as requisitioned by Tenant not more frequently than monthly, within thirty (30) days after requisition in accordance herewith. For each disbursement, Tenant shall submit a requisition package to Landlord, with an itemization of the costs being requisitioned, a certificate by an officer of Tenant that all such costs are Allowance Costs and have been incurred and paid for by Tenant, and appropriate back back-up documentation including, without limitation, lien releases (in a form reasonably specified or approved by Landlord) and paid invoices and bills. (If the total estimated cost of an invoice has not previously been paid by Tenant, at Tenant’s Initial Construction exceeds request Landlord shall fund the Allowance, Landlord reserves the right disbursement directly to disburse each individual disbursement of the Allowance in the proportion that the Allowance bears to the total estimated cost of Tenant’s Initial Constructiongeneral contractor, and further reserves the right provided that such funding shall not be deemed an assumption by Landlord of any obligation under Tenant’s construction contract.) Tenant may use up to withhold disbursement a maximum of the last ten percent (10%) of the Allowance until such time as the Tenant’s Initial Construction is completed, and Tenant has provided Landlord with a copy of the final certificate of occupancy for the Leased Premises and completed all construction-related requirements under the Leasetelecommunication wiring. Tenant shall not be entitled to any unused portion of the Tenant Work Allowance that is not requisitioned within one (1) year after the Term Commencement Date. Landlord shall have no obligation to disburse any portion of the Tenant Work Allowance at any time when there exists a default an Event of Default under the Lease (provided that such disbursement shall be made promptly after the event or condition giving rise to such default has been corrected or cured by Tenant)Lease.

Tenant Work Allowance. Landlord shall provide Tenant with an allowance for the costs (the “Allowance Costs”) of constructing construction of Tenant’s Initial Construction in the Leased Premises for Tenant’s initial occupancy Work (including, without limitation, architectural and engineering fees with respect thereto and costs of cabling, conduits, consulting fees, and Tenant’s furniture, fixtures and equipmentthereto) in an amount not to exceed the Tenant Work Allowance set forth in the Basic Lease Information sheet; provided that no more than $10.00 per square foot of Net Rentable Area . Tenant may requisition up to ten percent (10%) of the Tenant Work Allowance may be used for architectural and engineering fees design and other so-called soft costscosts incurred. All construction and design costs for the Leased Premises in excess of the Tenant Work Allowance shall be paid for entirely by Tenant, and Landlord shall not provide any reimbursement therefor. The Tenant Work Allowance is sometimes referred to as the “Allowance.” The Allowance shall be disbursed as requisitioned by Tenant Tenant, not earlier than the Term Commencement Date and not more frequently than monthly, within thirty (30) days after requisition in accordance herewith. For each disbursement, Tenant shall submit a requisition package to Landlord, with an itemization of the costs being requisitioned, a certificate by an officer of Tenant that all such costs are Allowance Costs and have been incurred and paid for by Tenant, and appropriate back back-up documentation including, without limitation, lien releases (in a form reasonably specified or approved by Landlord) and paid invoices and bills. If the total estimated cost Tenant may use up to a maximum of Tenant’s Initial Construction exceeds the Allowance, Landlord reserves the right to disburse each individual disbursement of the Allowance in the proportion that the Allowance bears to the total estimated cost of Tenant’s Initial Construction, and further reserves the right to withhold disbursement of the last ten percent (10%) of the Allowance until such time as the for any combination (at Tenant’s Initial Construction is completed, election by notice to Landlord) of (i) the costs of hereafter purchasing and Tenant has provided Landlord with a copy of the final certificate of occupancy for installing furniture and equipment in the Leased Premises and completed all construction-related requirements under (including, without limitation, telecommunication wiring) and/or (ii) a credit against the LeaseNet Rent first due after the Term Commencement Date. Except as set forth in the preceding sentence, Tenant shall not be entitled to any unused portion of the Tenant Work Allowance that is not requisitioned within one (1) year after the Term Commencement DateDelivery Date for the Additional Premises. Landlord shall have no obligation to disburse any portion of the Tenant Work Allowance (or to provide the aforesaid credit against Base Rent, if applicable) at any time when there exists a default an Event of Default under the Lease (provided that such disbursement shall be made promptly after the event or condition giving rise to such default has been corrected or cured by Tenant)Lease.

Tenant Work Allowance. Landlord shall provide Tenant with an allowance for the hard costs (the “Allowance Costs”) of constructing Tenant’s the Initial Construction Tenant Work in the Leased Premises for Tenant’s initial occupancy (including, without limitation, architectural and engineering fees with respect thereto and costs of cabling, conduits, consulting fees, and Tenant’s furniture, fixtures and equipment) in an amount not to exceed the Tenant Work Allowance set forth in the Basic Lease Information sheet; provided that no more than $10.00 per square foot of Net Rentable Area Section 1 of the Tenant Work Allowance may be used for architectural and engineering fees and other so-called soft costsLease (such amount sometimes being referred to herein as the “Allowance”). All hard construction and design costs for the Leased Premises in excess of the Tenant Work Allowance shall be paid for entirely by Tenant, and Landlord shall not provide any reimbursement therefor. The Tenant Work Allowance is sometimes referred to as the “Allowance.” The Allowance shall be disbursed as requisitioned by Tenant not Tenant, but no more frequently than monthly, within thirty (30) days after requisition in accordance herewith. For each disbursement, Tenant shall submit a requisition package to LandlordLandlord prior to the first day of the month, with an itemization of the costs being requisitioned, a certificate by an officer of Tenant that all such costs are Allowance Costs and have been incurred and paid for by Tenant, and appropriate back back-up documentation including, without limitation, customary AIA forms of progress payment certifications and lien releases (in a customary form provided or reasonably approved by Landlord) ), and copies of paid invoices and bills. If the total Allowance Costs for the Initial Tenant Work are reasonably estimated cost of Tenant’s Initial Construction exceeds to exceed the Allowance, Landlord reserves the right to disburse each individual disbursement make pro-rata disbursements of the Allowance for each requisition, in the proportion ratio that the Allowance bears to the total estimated cost Allowance Costs, subject to a final reconciliation of Tenant’s Initial Construction, and the Allowance upon completion of the work. Landlord further reserves the right to withhold disbursement of fund the last final ten percent (10%) of the Allowance until such time as the within thirty (30) days after Tenant’s submission to Landlord of the Close-Out Materials. The “Close-Out Materials” shall mean the requisition package for the final amount of the Allowance as provided above, together with (i) a final AIA certificate from Tenant’s architect evidencing substantial completion of the Initial Tenant Work in accordance with the approved Construction is completedDocuments, (ii) a set of “as built” or final record plans for such work, (iii) final lien waivers for such work from all contractors, subcontractors, and Tenant has provided Landlord with other parties who would be entitled to a copy of lien on the final Property if not paid, (iv) a certificate of occupancy for the Leased entire Premises after the performance of such work, and completed all construction-related requirements (v) any other items required under the LeaseBuilding’s construction rules and regulations for closing out the particular work in question. Tenant shall not be entitled to any unused portion of the Tenant Work Allowance that is not requisitioned within one (1) year after the Term Commencement Delivery Date; provided, that, in the event that any portion of the Allowance has not been disbursed for Allowance Costs following the completion of the Initial Tenant Work and Tenant’s delivery to Landlord of the Close-Out Materials, then such undisbursed portion shall be applied by Landlord against the next due monthly installments of Base Rent until fully expended. Notwithstanding the foregoing, Landlord shall have no obligation to disburse any portion of the Tenant Work Allowance or credit any portion thereof against the next due monthly installments of Base Rent as set forth hereinabove at any time when there exists a default Default under the Lease (provided that or for so long as an event or condition has occurred which with notice and the passage of time would constitute such disbursement shall be made promptly after a Default), until such time as the Default (or the event or condition giving rise to such default condition) has been corrected or cured by Tenant).