Common use of TI Allowance Clause in Contracts

TI Allowance. (a) Landlord shall provide Tenant with the TI Allowance stated in Section 1.1 plus an allowance for Tenant’s cost of the preliminary fit plan for the Premises in an amount up to $18,862.35 (payable within thirty days following Landlord’s receipt of a paid invoice for such cost). The TI Allowance shall be used by Tenant for hard costs of construction and any related architectural, engineering and construction management fees in connection with the TIW. Within four (4) weeks after the Final Plans have been approved, Tenant shall deliver to Landlord its total budget for the hard costs of construction, which shall include the costs of all mechanical systems installed by Tenant for Tenant’s use, Pre-Escrow Costs, and soft costs for the TIW (the “Total Costs”). The “Pre-Escrow Costs” shall be Tenant’s out-of-pocket expenditures for design and materials made prior to funding the first installment under the Construction Escrow Agreement (defined below), currently estimated to be $14,000,000.00. Landlord shall review Tenant’s budget for the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarifications. Any requests for clarification shall be addressed promptly by Tenant. If Landlord does not notify Tenant, Landlord shall be deemed to have no comments nor require clarifications. No later than September 30, 2022, Tenant shall provide Landlord with its most recent budget even if it is not finalized. It is understood that the budget for the Total Costs must be finalized and Tenant’s Share (hereinafter defined) must be determined prior to funding the first installment under the Construction Escrow Agreement. Landlord and Tenant shall determine the amount by which the estimated Total Costs exceed the TI Allowance, and such amount will be referred to as “Tenant’s Share” (subject to adjustment in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount of Tenant’s Share and Landlord shall be under no obligation to pay any costs in excess of the TI Allowance.

Appears in 1 contract

Samples: Rooftop Area Plan (Vericel Corp)

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TI Allowance. (a) Landlord shall provide Tenant the sum of $901,121.90 in tenant improvement allowance (the “TI Allowance”). Provided that Tenant is not then in default under this Lease, at Tenant’s request (or at the request of the Construction Manager with Tenant’s approval) Landlord shall disburse portions of the TI Allowance stated to Tenant to reimburse Tenant or Construction Manager for the cost of Tenant Work. However, a portion of the TI Allowance in Section 1.1 plus an allowance for Tenant’s the amount of $39,697 may be utilized by Tenant in connection with design and engineering services related to the Tenant Work. If the actual cost of the preliminary fit plan Tenant Work is less than the TI Allowance any such excess shall be disbursed to Tenant upon Tenant’s request to Landlord to reimburse Tenant for costs incurred to purchase or install moveable walls, office furniture, cubicles and work stations and/or for the Premises in an amount up cost of Direct Tenant Work. Tenant shall be required to $18,862.35 provide to Landlord reasonable evidence of the Tenant’s incurring of the applicable Tenant Work (payable e.g. copies of vendor invoices) or as to the excess nature of funds concerning which Tenant seeks a disbursement of the TI Allowance. Landlord shall pay Tenant within thirty (30) days following Landlordafter Tenant’s receipt request for a disbursement of a paid invoice for such cost)the TI Allowance. The cost of all final plans may be reimbursed to Tenant out of the TI Allowance shall be used by Tenant for hard costs of construction and any related architecturalAllowance. Tenant, engineering and construction management fees at its sole cost, may engage a project manager to assist it in connection with the TIWconstruction of the Tenant Work. Within four (4) weeks after In the Final Plans have been approvedevent Tenant fails to request all of the TI Allowance by December 31, 2008 from Landlord, Tenant shall deliver to Landlord its total budget for the hard costs of construction, which shall include the costs of all mechanical systems installed by Tenant for Tenant’s use, Pre-Escrow Costs, and soft costs for the TIW (the “Total Costs”). The “Pre-Escrow Costs” shall be Tenant’s out-of-pocket expenditures for design and materials made prior to funding the first installment under the Construction Escrow Agreement (defined below), currently estimated to be $14,000,000.00. Landlord shall review Tenant’s budget for the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarifications. Any requests for clarification shall be addressed promptly by Tenant. If Landlord does not notify Tenant, Landlord shall be deemed to have no comments nor require clarifications. No later than September 30, 2022, Tenant shall provide Landlord with its most recent budget even if it is not finalized. It is understood that the budget for the Total Costs must be finalized and Tenant’s Share (hereinafter defined) must be determined prior right to funding the first installment under the Construction Escrow Agreement. Landlord and Tenant shall determine the amount by which the estimated Total Costs exceed the TI Allowance, and such amount will be referred to as “Tenant’s Share” (subject to adjustment in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount of Tenant’s Share and Landlord shall be under no obligation to pay any costs in excess of the TI Allowanceundisbursed balance thereafter.

Appears in 1 contract

Samples: Agreement of Lease (MEDecision, Inc.)

TI Allowance. (a) Landlord shall provide Tenant with the TI Allowance stated in Section 1.1 plus an allowance for Tenant’s cost of the preliminary fit plan for the Premises in an amount up to $18,862.35 (payable within thirty days following Landlord’s receipt of a paid invoice for such cost). The First Expansion Space TI Allowance shall be used made available to Tenant by Landlord only to reimburse Tenant for the cost of Tenant’s First Expansion Space Work (as said term is hereinafter defined). The First Expansion Space TI Allowance under this Section 4 shall be payable to Tenant by Landlord within thirty (30) days after request therefor by Tenant for hard costs and satisfaction of construction each of the following conditions: (a) the First Expansion Space Rent Commencement. Date shall have occurred and any related architectural, engineering and construction management fees in connection with the TIW. Within four (4) weeks after the Final Plans all of Tenant’s First Expansion Space Work shall have been approvedcompleted and fully paid for by Tenant, (b) lien waivers and proof of payment of all costs related to Tenant’s First Expansion Space Work shall have been provided to Landlord, all in form and substance satisfactory to Landlord, (c) Tenant shall deliver have commenced use and occupancy of the First Expansion Space for the Permitted Uses and shall have commenced paying First Expansion Space Basic Rent and other sums and charges hereunder allocable thereto, (d) no Default of Tenant shall have occurred under the Lease and be continuing, (e) Tenant shall have certified to Landlord its total budget that all of Tenant’s First Expansion Space Work has been completed and fully paid for and that there are no disputes or disagreements outstanding with respect thereto, (f) Tenant shall have delivered to Landlord (i) a final set of “as built” plans certified to Landlord as such by Tenant and Tenant’s architect and engineer showing all of the Tenant’s First Expansion Space Work and (ii) all permits related thereto including, without limitation, a final unconditional certificate of occupancy for the hard costs First Expansion Space. In no event shall Landlord have any obligation to make payment of constructionany portion of the First Expansion Space TI Allowance with respect to any requests for payment thereof which is not delivered to Landlord within nine (9) months of the First Expansion Space Rent Commencement Date, which As used herein, the term “Tenant’s First Expansion Space Work” shall include mean the costs performance of all mechanical systems installed by Tenant the work necessary to initially prepare the First Expansion Space for Tenant’s useoccupancy and business operations, Pre-Escrow Costsincluding, without limitation, the installation of all demising walls, corridors, kitchens, restrooms, sprinklers, HVAC distribution and soft control systems, doors, outlets, ceilings, carpeting, walls, wiring, thermostats, electrical controls, cabling, plumbing, life and safety equipment and signs, conference rooms, server rooms, supplemental air conditioning, office cubicles, floor coverings, signs, paintings, furniture and fixtures, telecom and interior partitions and including all architectural and engineering plans and costs for related thereto as well as other work performed by Tenant to unify the TIW (original Premises with the “Total Costs”)First Expansion Space. The “Pre-Escrow Costs” shall be As and to the extent that the cost of Tenant’s out-of-pocket expenditures for design and materials made prior to funding First Expansion Space Work is less than the first installment under the Construction Escrow Agreement (defined below), currently estimated to be $14,000,000.00. Landlord shall review Tenant’s budget for the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarifications. Any requests for clarification shall be addressed promptly by Tenant. If Landlord does not notify TenantFirst Expansion Space TI Allowance allocable thereto, Landlord shall be deemed entitled to have no comments nor require clarifications. No later than September 30, 2022, Tenant shall provide Landlord with its most recent budget even if it is not finalized. It is understood that retain the budget for the Total Costs must be finalized and Tenant’s Share (hereinafter defined) must be determined prior to funding the first installment under the Construction Escrow Agreement. Landlord same and Tenant shall determine the amount by which the estimated Total Costs exceed the TI Allowance, and such amount will be referred to as “Tenant’s Share” (subject to adjustment in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount of Tenant’s Share and Landlord shall be under have no obligation to pay any costs in excess of the TI Allowanceclaim thereto.

Appears in 1 contract

Samples: Sublease (Salary. Com, Inc.)

TI Allowance. (a) Landlord shall provide to Tenant with a tenant improvement allowance (“TI Allowance”) of $5,208,850 in the TI Allowance stated in Section 1.1 plus an allowance for Tenant’s cost of the preliminary fit plan for the Premises in an amount up to $18,862.35 (payable within thirty days following Landlord’s receipt of a paid invoice for such cost)aggregate. The TI Allowance shall be disbursed in accordance with this Work Letter. The TI Allowance shall be disbursed in accordance with this Work Letter. Except as otherwise expressly provided in this Section 5, Tenant shall have no right to the use or benefit (including any reduction to Base Rent) of any portion of the TI Allowance not required for the construction of (i) the Seventh Amendment Tenant Improvements described in the TI Construction Drawings approved pursuant to Section 2(d) or other Alterations in the Premises approved by Landlord (“Seventh Amendment Alterations”), or (ii) any Changes pursuant to Section 4. Tenant shall have no right to any portion of the TI Allowance that is not disbursed before the date that is 21 months after the Sixth Expansion Premises Commencement Date. Notwithstanding anything to the contrary contained herein, any unused portion of the TI Allowance may be used by Tenant for hard either the Staircase Improvements, the Base Building Improvements or the Restroom Improvements. In addition to the TI Allowance, Landlord shall provide to Tenant an allowance for the costs incurred by Tenant, of $800,000 (the “Restroom Allowance”) for the renovation of the restrooms located in the Fourth Floor Sixth Expansion Premises and the Third Floor Sixth Expansion Premises (the “Restroom Improvements). Tenant shall be responsible for the cost of the Restroom Improvements in excess of the Restroom Allowance. Notwithstanding anything to the contrary contained herein, any unused portion of the Restroom Allowance may be used by Tenant for either the Staircase Improvements, the Base Building Improvements or the Seventh Amendment Tenant Improvements. Landlord shall also provide Tenant with an allowance, in the amount of $150,000 (the “Staircase Allowance”), for costs incurred by Tenant for the installation of a staircase interconnecting the Fourth Floor Sixth Expansion Premises and the Third Floor Sixth Expansion Premises (“Staircase Improvements”), which Staircase Allowance shall, to the extent used, result in Additional Rent as set forth in Section 9 of the Seventh Amendment. Tenant shall be responsible for the cost of the Staircase Improvements in excess of the Staircase Allowance. Notwithstanding anything to the contrary contained herein, any unused portion of the Staircase Allowance may be used by Tenant for either the Restroom Improvements, the Base Building Improvements or the Seventh Amendment Tenant Improvements. Landlord shall also provide Tenant with an allowance, in the amount of $4,250,000 (the “Base Building Allowance”), for costs incurred by Tenant to be comprised of (i) $1,000,000 for the construction of certain improvements to the Base Building affecting the Existing Premises in accordance with the plans approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, including, without limitation, improvements to the boilers, controls and any related architecturalHVAC distribution affecting the Existing Premises, engineering (ii) $750,000 for costs incurred for the HVAC system to be installed in the Third Floor Sixth Expansion Premises, (iii) $750,000 for costs incurred for the HVAC system to be installed in the Fourth Floor Sixth Expansion Premises, and construction management fees (iv) $1,750,000 for costs incurred in connection with the TIW. Within four purchase and installation of skylights to be installed in the Fourth Floor Sixth Expansion Premises as shown on the roof plan attached hereto as Schedule 2, the approximately size and location of which has been agreed upon y Landlord and Tenant (4) weeks after the Final Plans have been approvedcollectively, Tenant shall deliver to Landlord its total budget for the hard costs of construction, which shall include the costs of all mechanical systems installed by Tenant for Tenant’s use, Pre-Escrow Costs, and soft costs for the TIW (the Total CostsBase Building Improvements”). The “Pre-Escrow Costs” shall be Tenant’s out-of-pocket expenditures for design and materials made prior to funding the first installment under the Construction Escrow Agreement (defined below), currently estimated to be $14,000,000.00. Landlord shall review reasonably assist Tenant’s budget , at no cost to Landlord, in obtaining any permits required for the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarificationsBase Building Improvements. Any requests for clarification shall be addressed promptly by Tenant. If Landlord does not notify Tenant, Landlord shall be deemed to have no comments nor require clarifications. No later than September 30, 2022, Tenant shall provide Landlord with its most recent budget even if it is not finalized. It is understood that the budget for the Total Costs must be finalized and Tenant’s Share (hereinafter defined) must be determined prior to funding the first installment under the Construction Escrow Agreement. Landlord and Tenant shall determine the amount by which the estimated Total Costs exceed the TI Allowance, and such amount will be referred to as “Tenant’s Share” (subject to adjustment in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount cost of Tenant’s Share and Landlord shall be under no obligation to pay any costs the Base Building Improvements in excess of the TI Base Building Allowance. Any unused portion of the Base Building Allowance may be used by Tenant for either the Restroom Improvements, the Staircase Improvements or the Seventh Amendment Tenant Improvements.

Appears in 1 contract

Samples: Lease (Sarepta Therapeutics, Inc.)

TI Allowance. (a) The TI Allowance shall be disbursed and applied by Landlord shall provide to pay or reimburse Tenant with for TI Costs. Disbursement of the TI Allowance stated to or at the direction of Tenant to pay or reimburse Tenant for TI Costs shall be conditioned upon the subject TI Work having been performed in Section 1.1 plus an allowance for Tenant’s cost accordance with the provisions of the preliminary fit plan for the Premises in an amount up this Lease, and shall be subject to $18,862.35 (payable within thirty days following Landlord’s receipt of a paid invoice request for payment in form and with backup reasonably satisfactory to Landlord, including but not limited to such cost). The TI Allowance shall be used by Tenant for hard costs of construction certifications, lien waivers and any related architecturalother documents from Tenant, engineering and construction management fees in connection with the TIW. Within four (4) weeks after the Final Plans have been approved, Tenant shall deliver to Landlord its total budget for the hard costs of construction, which shall include the costs of all mechanical systems installed by Tenant for Tenant’s use, Pre-Escrow Costs, and soft costs for the TIW (the “Total Costs”). The “Pre-Escrow Costs” shall be Tenant’s out-of-pocket expenditures for design and materials made prior to funding the first installment under the Construction Escrow Agreement (defined below), currently estimated to be $14,000,000.00. Landlord shall review Tenant’s budget for the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarifications. Any requests for clarification shall be addressed promptly by Tenant. If Landlord does not notify Tenant, Landlord shall be deemed to have no comments nor require clarifications. No later than September 30, 2022, Tenant shall provide Landlord with its most recent budget even if it is not finalized. It is understood that the budget for the Total Costs must be finalized contractor and Tenant’s Share Architect as Landlord may reasonably require (hereinafter defined) must provided that lien waivers shall not be determined prior required from subcontractors performing work with an aggregate value of less than $50,000 in any one instance). Tenant may request disbursements of the TI Allowance from time to funding time as the first installment under TI Work progresses, but not more frequently than monthly. Prior to commencement of the Construction Escrow Agreement. TI Work, Landlord and Tenant shall determine the amount by which and agree upon the estimated Total TI Costs on the basis of the TI Plan and Tenant’s contract(s) for the performance of the TI Work (the “Estimated TI Costs”), and if the Estimated TI Costs exceed the TI Allowance, and such amount will Landlord may limit each requested disbursement of the TI Allowance to a percentage of the TI Costs which are the subject of the disbursement request, which percentage shall be referred determined by dividing the TI Allowance by the Estimated TI Costs. Landlord shall make disbursements of the TI Allowance to as “or at the direction of Tenant within 30 days after receipt of Tenant’s Share” (subject written request and reasonably satisfactory backup documentation. Landlord may inspect the TI Work as a condition to adjustment making any requested disbursement of the TI Allowance to confirm the status of the TI Work and that the TI Work is being performed in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount provisions of Tenant’s Share and Landlord shall be under no obligation to pay any costs this Lease. All TI Costs in excess of the TI Allowance shall be paid by Tenant, without reimbursement by Landlord; subject, however, to the availability of the Supplemental Allowance as provided in Section 3.5(b)(iv) and the availability of any Excess Base Building Allowance as provided in Section 3.5(a). Any unused portion of the TI Allowance remaining after payment of all TI Costs shall be available for application to payment or reimbursement of Tenant for any Base Building Costs in excess of the Base Building Allowance. Tenant shall have the right to apply the TI Allowance towards general construction, data/telecommunications cabling, architectural costs (including space plans, mechanical, electrical, and plumbing work drawings), and construction management fees for the TI Work.

Appears in 1 contract

Samples: Lease (Infinity Pharmaceuticals, Inc.)

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TI Allowance. (a) In accordance with the terms and conditions of this Second Amendment, Landlord shall provide make available to Tenant (i) a tenant improvement allowance [***] (the “Base TI Allowance”) plus (ii) if properly requested by Tenant pursuant to this Section 6.a, an additional tenant allowance [***] the “Additional TI Allowance”), [***] for use for any purpose elected by Xxxxxx, in Tenant’s sole discretion, which may include, among others, improvements to the Premises (the “Tenant Improvements”) as described in the Work Letter attached to this Amendment as Exhibit C (the “Work Letter”) and as otherwise provided in this Section 6.a. The Base TI Allowance, together with the Additional TI Allowance stated in (if properly requested by Tenant pursuant to this Section 1.1 plus 6.a), shall be referred to herein as the “TI Allowance.” Landlord shall disburse the Base TI Allowance to Tenant [***] by wire transfer of immediately available funds to an allowance for Tenant’s cost account specified by Xxxxxx. If Tenant desires all or any portion of the preliminary fit plan for the Premises in an amount up to $18,862.35 (payable within thirty days following Landlord’s receipt of a paid invoice for such cost). The Additional TI Allowance shall be used by Tenant for hard costs of construction and any related architecturalAllowance, engineering and construction management fees in connection with the TIW. Within four (4) weeks after the Final Plans have been approved, then Tenant shall deliver to Landlord its total budget a written request for such Additional TI Allowance, in the hard costs form attached to this Amendment as Exhibit D, executed by an authorized officer of construction, which shall include the costs of all mechanical systems installed by Tenant for Tenant’s use, Pre-Escrow Costs, and soft costs for the TIW (the an Total CostsAdditional TI Allowance Request”), and, provided that no monetary or material non-monetary Default has occurred and is then continuing, Landlord shall disburse the requested amount of the Additional TI Allowance b wire transfer of immediate) available funds [***]. The “Pre-Escrow Costs” shall be Tenant’s out-of-pocket expenditures for design and materials made prior to funding Tenant may make multiple draws against the first installment under Additional TI Allowance until such time as the Construction Escrow Agreement entire Additional TI Allowance has been disbursed or the occurrence of the TI Deadline (as defined below), currently estimated whichever occurs first. Tenant may use the Base TI Allowance (and Additional TI Allowance, if properly requested by Tenant pursuant to be $14,000,000.00this Section 6.a) in Tenant’s sole discretion for, among other things, financing hard and soft costs of the Tenant Improvements, purchasing furniture, fixtures and equipment for Tenant’s use at the Premises or defraying the cost of moving expenses and costs incurred by Tenant for any other 4813-5202-3331.13 9 lease obligations, or for any other purpose desired by Tenant. Landlord shall review Tenant’s budget for not be obligated to disburse any portion of the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarifications. Any requests for clarification shall be addressed promptly by Tenant. If Landlord does not notify Tenant, Additional TI Allowance unless and until Landlord shall be deemed to have received from Tenant an Additional TI Allowance Request. In no comments nor require clarifications. No later than September 30, 2022, Tenant event shall provide Landlord with its most recent budget even if it is not finalized. It is understood that the budget for the Total Costs must be finalized and Tenant’s Share (hereinafter defined) must be determined prior to funding the first installment under the Construction Escrow Agreement. Landlord and Tenant shall determine the amount by which the estimated Total Costs exceed the TI Allowance, and such amount will be referred to as “Tenant’s Share” (subject to adjustment in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount of Tenant’s Share and Landlord shall be under no obligation to pay any costs in excess portion of the TI AllowanceAllowance not properly requested by Tenant pursuant to this Section 6.a entitle Tenant to a credit against Rent payable under this Lease.

Appears in 1 contract

Samples: Lease (Macrogenics Inc)

TI Allowance. Landlord shall, subject to the terms of the Work Letter, make available to Tenant the Tenant Improvement Allowance (aas defined in the Work Letter). Commencing on the Commencement Date, and continuing thereafter on the first day of each month during the Base Term, Tenant shall pay the amount necessary to fully amortize the portion of the Tenant Improvement Allowance actually funded by Landlord, if any, in equal monthly payments with interest at a rate of 8% per annum over the Base Term, which interest shall begin to accrue on the date that Landlord first disburses such Tenant Improvement Allowance or any portion(s) Landlord shall provide thereof. Tenant with acknowledges that because the TI Tenant Improvement Allowance stated may be disbursed to Tenant in multiple disbursements following the Commencement Date, the Additional Rent payable by Tenant pursuant to this Section 1.1 plus an allowance for 4(b) may be adjusted following each such disbursement. Notwithstanding anything to the contrary contained herein, Tenant may, at Tenant’s cost sole election, accelerate or pre-pay all or any portion of the preliminary fit plan for outstanding and unamortized portion of the Premises Tenant Improvement Allowance that was actually funded by Landlord in an amount up full at any time without penalty, in which event the amortizing payments shall be appropriately adjusted. Any of the Tenant Improvement Allowance and applicable interest remaining unpaid as of the expiration or earlier termination of this Lease shall be paid to $18,862.35 (payable within thirty days following Landlord’s receipt Landlord in a lump sum at the expiration or earlier termination of a paid invoice for such cost)this Lease. The TI Tenant Improvement Allowance shall be used available for use by Tenant for hard costs of construction and any related architectural, engineering and construction management fees in connection with until the TIW. Within four date that is twelve (412) weeks months after the Final Plans have Commencement Date. Any portion of the Additional Tenant Improvement Allowance which has not been approved, Tenant shall deliver to Landlord its total budget for the hard costs of construction, which shall include the costs of all mechanical systems installed properly requested by Tenant for Tenant’s usefrom Landlord on or before the date that is twelve (12) months after the Commencement Date, Pre-Escrow Costs, and soft costs for the TIW (the “Total Costs”). The “Pre-Escrow Costs” shall be Tenant’s out-of-pocket expenditures forfeited and shall not be available for design and materials made prior to funding the first installment under the Construction Escrow Agreement (defined below), currently estimated to be $14,000,000.00. Landlord shall review Tenant’s budget for the Total Costs and, within seven (7) days of delivery by Tenant of such budget, notify Tenant whether Landlord has any comments or requires any clarifications. Any requests for clarification shall be addressed promptly use by Tenant. If Landlord does not notify Tenant, Landlord shall be deemed to have no comments nor require clarifications. No later than September 30, 2022, Tenant shall provide Landlord with its most recent budget even if it is not finalized. It is understood that the budget for the Total Costs must be finalized and Tenant’s Share (hereinafter defined) must be determined prior to funding the first installment under the Construction Escrow Agreement. Landlord and Tenant shall determine the amount by which the estimated Total Costs exceed the TI Allowance, and such amount will be referred to as “Tenant’s Share” (subject to adjustment in accordance with the Construction Escrow Agreement), Tenant shall be solely responsible for the entire amount of Tenant’s Share and Landlord shall be under no obligation to pay any costs in excess of the TI Allowance.

Appears in 1 contract

Samples: Lease Agreement (Singular Genomics Systems, Inc.)

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