TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. 2.5.1 Upon receipt of possession of the Premises, the Tenant shall prepare the Premises for Tenant’s occupancy and complete the Tenant Improvements in accordance with the Plans and Specifications in all material respects and at the Tenant’s sole cost and expense (all such costs and expenses, including all hard and soft costs such as and without limitation, all labor and materials, architectural, engineering, permitting, and space planning fees are hereinafter collectively referred to as the “Tenant Improvement Costs”). Tenant shall make no material changes to the Plans and Specifications or the work reflected in the Plans and Specifications without the consent of the Landlord, which consent shall not be unreasonably withheld provided such changes do not affect any structural elements of the Building or Building systems. In no event shall Tenant make any changes to the Plans and Specifications or the work reflected in the Plans and Specifications without the consent of the Landlord if such changes affect any structural elements of the Building or Building systems and/or the location of any door or wall. Tenant’s completion of the Tenant Improvements shall be performed by Tenant’s contractors, who shall (a) be selected by Tenant and approved by Landlord (such approval not to be unreasonably withheld or delayed), and (b) work under the direction of Tenant or, if directed in writing by Tenant, Tenant’s qualified representative. In the event of any dispute as to whether Substantial Completion as occurred, a certificate of occupancy shall be deemed conclusive. Landlord shall have the right, at Landlord’s sole cost and expense, to have its representative at the Premises at all times during the construction of the Tenant Improvements to review and monitor the performance of same, and Tenant shall pay Landlord a construction monitoring fee equal to one percent (1%) of the Tenant Improvement Costs (the “Construction Monitoring Fee”). The Tenant Improvements shall be performed by contractors approved by Landlord and employed by Tenant under one or more construction contracts that require the prime contractor and the respective subcontractors of any tier: (a) be parties to, and bound by, a collective bargaining agreement with a labor organization affiliated with the Building and Construction Trades Council of the AFL-CIO and (b) employ only members of such organization to perform work within their respective jurisdictions). However, at Landlord’s sole option, in claus...
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. If the cost of the Tenant Improvements exceeds the Tenant Improvement Allowance, Tenant shall pay to Landlord such excess within ten (10) Business Days after demand by Landlord. If Tenant fails to pay to Landlord the cost of any such excess Tenant Improvements as and when due, Landlord may elect to suspend work on the Tenant Improvements pending such timely payment, and the Commencement Date shall be deemed to have occurred on the date that the Tenant Improvements would have achieved Substantial Completion absent such suspension of work. Upon the expiration or sooner termination of this Lease, all Tenant Improvements and all additions or alterations to the Premises made by Tenant or performed by Landlord on Tenant's behalf, shall become the property of Landlord, subject only to Tenant's right to remove property under the paragraph captioned "Tenant Alterations". At Landlord's election and upon notice to Tenant, Tenant shall be required to remove all Tenant Improvements or Tenant Alterations upon the expiration or earlier termination of this Lease. Tenant shall construct its tenant improvements in the Premises in accordance with the approved Plans and Specifications at its own cost and expense using contractors selected by Tenant and approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. If the cost of the Tenant Improvements exceeds the Tenant Improvement Allowance, Tenant shall pay to Landlord such excess in accordance with the terms of the Work Letter Agreement attached hereto as Exhibit C. All Tenant Improvements, regardless of which party constructed them, shall become the property of Landlord and shall remain upon and be surrendered with the Premises upon the expiration or earlier termination of this Lease and, provided that Tenant pays the Removal Fee (as defined below), then notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to remove the same upon the expiration or earlier termination of this Lease. Upon the expiration or earlier termination of this Lease (other than a termination of this Lease by Tenant pursuant to Section 4.5 of the Tenant Work Letter), as consideration for Landlord's agreement not to require Tenant to remove the Tenant Improvements, Tenant shall pay to Landlord an amount equal to Twenty Thousand and 00/100 Dollars ($20,000.00) (the "Removal Fee") which Landlord may (but shall not be obligated to) use for the removal of some or all of the Tenant Improvements. If Tenant does not pay the Removal Fee within five (5) days after such expiration or earlier termination, Landlord may apply the Security Deposit towards the Removal Fee.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. If the cost of the Tenant Improvements exceeds the Tenant Improvement Allowance, Tenant shall pay to Landlord such excess within ten (70) Business Days after demand by Landlord. If Tenant fails to pay to Landlord the cost of any such excess Tenant Improvements as and when due, Landlord may elect to suspend work on the Tenant Improvements pending such timely payment, and the Commencement Date shaft be deemed to have occurred on the date that the Tenant improvements would have achieved Substantial Completion absent such suspension of work. All Tenant Improvements, regardless of which party constructed them, shall become the property of Landlord and shall remain upon and be surrendered with the Premises upon the expiration or earlier termination of this Lease provided that, at Landlord’s election and upon notice to Tenant at the time the Plans and specifications are approved, Tenant shall be required to remove all or any portion of the Tenant Improvements (other than building standard items) upon the expiration or earlier termination of this Lease.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. Tenant's obligation to pay the cost of constructing the Tenant Improvements ("Tenant's Cost Obligation") shall be limited to the actual Tenant Improvement less the Tenant Improvement Allowance. Tenant shall not be required to post a letter of credit in an amount equal to the Tenant Improvement Cost less the Tenant Improvement Allowance nor shall Tenant be required to post cash. Tenant shall covenant to pay to Landlord Tenant's Cost Obligation no later than Ten (10) days after receipt of a statement and reasonable documentation of the Tenant Improvement Costs from Landlord. Tenant shall be entitled to all investment tax credit, depreciation, and other tax attributes relating to the Tenant Improvements paid for by Tenant. At the Expiration Date or sooner termination of the Lease, all Tenant Improvements shall be surrendered to Landlord in accordance with the terms of the Lease.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. 2.5.1 Before any construction of Additional Tenant Improvements occurs, Landlord and Tenant shall agree on the cost thereof. If the cost of the Additional Tenant Improvements exceeds the Tenant Improvement Allowance, Tenant shall pay to Landlord such excess within twenty (20) Business Days after receipt of Landlord's demand made from time to time and accompanied by reasonably detailed documentation of the excess cost incurred by Landlord. If Tenant fails to pay to Landlord the cost of any such excess Tenant Improvements as and when due, Landlord may elect to suspend work on the Tenant Improvements pending such timely payment, and the Commencement Date shall be deemed to have occurred on the date that Substantial Completion would have been achieved absent such suspension of work. Any savings or unused portion of the Tenant Improvement Allowance may be applied by Tenant as a credit against the Monthly Base Rent Installment coming due under this Lease on the first day of the thirteenth month of the Lease Term.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. If the cost of the Tenant Improvements exceeds the Tenant Improvement Allowance and Excess Allowance, if any, Tenant shall pay to Landlord such excess in accordance with the terms of the Work Letter Agreement attached hereto as EXHIBIT C. All Tenant Improvements, regardless of which party constructed them, shall become the property of Landlord and shall remain upon and be surrendered with the Premises upon the expiration or earlier termination of this Lease; PROVIDED THAT, at Landlord's election and upon notice to Tenant, Tenant shall be required to remove all or any portion of the Tenant Improvements upon the expiration or earlier termination of this Lease. 2.7
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. Subject to the ------------------------------------------------- provisions of paragraph 4.3 of the Work Letter Agreement, if the cost of the Tenant Improvements exceeds the Tenant Improvement Allowance and Tenant elects not to have Landlord amortize such amounts as set forth in Section 1.41, Tenant shall pay to Landlord such excess within fifteen (15) Business Days after demand by Landlord. All Tenant Improvements, regardless of which party constructed them, shall become the property of Landlord upon the expiration or earlier termination of this Lease and shall remain upon and be surrendered with the Premises upon the expiration or earlier termination of this Lease; provided that, at Landlord's election and upon notice to ------------- Tenant at the time of Landlord's approval of the plans and specifications, Tenant shall be required to remove all or any portion of the Tenant Improvements upon the expiration or earlier termination of this Lease.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS. Landlord’s obligation to pay for the cost of completing the New Premises Tenant Improvements shall not exceed the Tenant Improvement Allowance. The Tenant Improvement Allowance, subject to the limitations on the amount thereof, is intended to apply to all Permitted Costs. The Tenant Improvement Allowance shall include a fee payable to Landlord’s construction manager for construction oversight services in an amount equal to Twelve Thousand Dollars ($12,000.00) per month, which fee shall be included within the Tenant Improvement Allowance and shall be capped at a maximum of Two Hundred Sixteen Thousand Dollars ($216,000.00). If the cost of the New Premises Tenant Improvements exceeds the Tenant Improvement Allowance, Tenant shall be responsible for any such excess (the “Excess Costs”). Landlord shall have, in connection with such Excess Costs, all the rights and remedies granted under the Lease in connection with the enforcement of collection of Monthly Base Rent.
TENANT'S CONTRIBUTION TO TENANT IMPROVEMENT COSTS
