Common use of TI Allowance Clause in Contracts

TI Allowance. Upon completion of the Work, Tenant shall furnish Landlord with full and final waivers of liens and contractors’ affidavits and statements, in such form as may be reasonably required by Landlord, Landlord’s title insurance company and Landlord’s construction or permanent lender, if any, from all parties performing labor or supplying materials or services in connection with the Work showing that all of said parties have been compensated in full and waiving all liens in connection with the Premises and Building. Tenant shall submit to Landlord a detailed breakdown of Tenant’s total construction costs, together with such evidence of payment as is reasonably satisfactory to Landlord. Upon Tenant’s satisfaction of the requirements set forth in this Section 8 and completion of the Work, Landlord shall provide Tenant with a tenant improvement allowance in the maximum amount of $25.00 per rentable square foot of Suites 400 (which consists of 12,018 rentable square feet), and 606/690 (which consists of 3,184 rentable square feet) (the “TI Allowance”) for application to the extent thereof to the cost of the Work. If the cost of the Work exceeds the TI Allowance, Tenant shall have sole responsibility for the payment of such excess cost. If the cost of the Work is less than the TI Allowance, Tenant shall not be entitled to any payment or credit for such excess amount. Notwithstanding the foregoing, Landlord shall pay to Tenant the TI Allowance within thirty (30) days of satisfying the conditions set forth in this Paragraph 8. In the event Landlord does not pay to Tenant the TI allowance within said thirty (30) days, then the TI Allowance shall be offered as a rent credit against Tenant’s Base Rent, and any additional rents due, until the full TI Allowance amount is credited.

TI Allowance. Upon completion Tenant may periodically (but no more frequently than monthly) submit written requests for disbursements of the Work, Tenant shall furnish Landlord with full and final waivers of liens and contractors’ affidavits and statements, in such form as may be reasonably required by Landlord, Landlord’s title insurance company and Landlord’s construction or permanent lender, if any, from all parties performing labor or supplying materials or services in connection with the Work showing that all of said parties have been compensated in full and waiving all liens in connection with the Premises and Building. Tenant shall submit to Landlord a detailed breakdown of Tenant’s total construction costs, together with such evidence of payment as is reasonably satisfactory to Landlord. Upon Tenant’s satisfaction of the requirements set forth in this Section 8 and completion of the Work, Landlord shall provide Tenant with a tenant improvement allowance in the maximum amount of $25.00 per rentable square foot of Suites 400 (which consists of 12,018 rentable square feet), and 606/690 (which consists of 3,184 rentable square feet) (the “TI Allowance”) for application to the extent thereof to the cost of the Work. If the cost of the Work exceeds the TI Allowance. Each request for funding (a “Fund Request”) shall include the following: (i) the total amount of the TI Allowance requested, (ii) a summary of the Tenant shall have sole responsibility Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect or other reasonable form, (iii) invoices from the general contractor, the architect, and any subcontractors, material suppliers and other parties requesting payment with respect to the amount of the TI Allowance then being requested, (iv) unconditional lien releases from the general contractor and each subcontractor and material supplier with respect to previous payments made by either Landlord or Tenant for the payment Tenant Improvements in a form reasonably acceptable to Landlord and complying with Applicable Laws and (v) conditional lien releases from the general contractor and each subcontractor and material supplier with respect to the Tenant Improvements performed that correspond to the Fund Request, each in a form reasonably acceptable to Landlord and complying with Applicable Laws; provided, however, for purposes of such excess cost. If the cost of the Work is clauses (iv) and (v) above, with respect to subcontractors and material suppliers providing less than $50,000 in the TI Allowanceaggregate of labor, materials or services, Tenant shall not be entitled required to any payment or credit provide lien releases so long as the total amount of the unpaid labor, services and materials for such excess amountall subcontractors for which no lien releases have been obtained, is less than $50,000 in the aggregate. Notwithstanding Within thirty (30) days following receipt by Landlord of a Fund Request and the foregoingaccompanying materials required by this Section, Landlord shall pay to (as elected by Tenant) the applicable contractors, subcontractors and material suppliers or Tenant the TI Allowance within thirty (30) days amount of satisfying the conditions Tenant Improvement costs set forth in such Fund Request; provided, however, that Landlord shall not be obligated to make any payments under this Paragraph 8. In Section until the event Landlord does not pay to budget for the Tenant the TI allowance within said thirty (30) days, then the TI Allowance shall be offered as a rent credit against Tenant’s Base RentImprovements is approved in accordance with Section 6.2, and any additional rents due, until Fund Request under this Section shall be subject to the full TI Allowance amount is creditedpayment limits set forth in Section 6.2 above and Article 4 of the Lease.

TI Allowance. Upon completion of the Work, Tenant shall furnish Landlord with full and final waivers of liens and contractors’ affidavits and statements, in such form as may be reasonably required by Landlord, Landlord’s title insurance company and Landlord’s construction or permanent lender, if any, from all parties performing labor or supplying materials or services in connection with the Work showing that all of said parties have been compensated in full and waiving all liens in connection with the Premises and Building. Tenant shall submit to Landlord a detailed breakdown of Tenant’s total construction costs, together with such evidence of payment as is reasonably satisfactory to Landlord. Upon Tenant’s satisfaction of the requirements set forth in this Section 8 and completion of the Work, (a) Landlord shall provide Tenant with a tenant improvement allowance in the maximum contribute an amount of $25.00 50.00 per rentable usable square foot of Suites 400 the Premises (which consists of 12,018 rentable square feet), and 606/690 (which consists of 3,184 rentable $5,100,000.00) based on 102,000 usable square feet) (the “TI Allowance”), the total amount of which shall be subject to adjustment as set forth in the definition of “Premises” in Paragraph 1 of the Lease, toward the costs incurred for the Tenant Improvements and Change Orders, including, without limitation, painting, carpeting, voice and data cabling, signage, tile, wall covering, light fixtures, plans, permits, insurance and architectural fees (but expressly excluding Tenant’s Property); provided, however, that if all or any portion of the TI Allowance is not used on or before the date that is one (1) year after the Commencement Date, the TI Allowance or such portion that is not used shall be lost and shall no longer be available to Tenant. In calculating the cost of Tenant Improvements and Change Orders, Landlord shall give Tenant the benefit of any cash, trade and quantity discounts actually received by Landlord. (b) Except as expressly provided in this Paragraph 3: (i) Landlord has no obligation to pay for application to the extent thereof to cost of any Tenant Improvements or Change Orders in excess of the TI Allowance; and (ii) if the cost of the Work. If the cost of the Work Tenant Improvements and Change Orders exceeds the TI Allowance, Tenant shall have sole responsibility for pay such overage to Landlord within ten (10) business days after the payment receipt of an invoice therefor, accompanied by such excess cost. If detail as may reasonably be requested by Tenant, which invoice may be delivered prior to the cost commencement of the Work is less than the TI Allowance, Tenant shall not be entitled to any payment or credit for such excess amount. Notwithstanding the foregoing, Landlord shall pay to Tenant the TI Allowance within thirty (30) days of satisfying the conditions set forth in this Paragraph 8. In the event Landlord does not pay to Tenant the TI allowance within said thirty (30) days, then the TI Allowance shall be offered as a rent credit against Tenant’s Base Rent, and any additional rents due, until the full TI Allowance amount is creditedconstruction.

TI Allowance. Upon completion of the Work, Tenant shall furnish Landlord with full and final waivers of liens and contractors’ affidavits and statements, in such form as may be reasonably required by Landlord, Landlord’s title insurance company and Landlord’s construction or permanent lender, if any, from all parties performing labor or supplying materials or services in connection with the Work showing that all of said parties have been compensated in full and waiving all liens in connection with the Premises and Building. Tenant shall submit to Landlord a detailed breakdown of Tenant’s total construction costs, together with such evidence of payment as is reasonably satisfactory to Landlord. Upon Tenant’s satisfaction of the requirements set forth in this Section 8 and completion of the Work, Landlord shall provide to Tenant with a tenant improvement allowance in the maximum amount of $25.00 per rentable square foot of Suites 400 (which consists of 12,018 rentable square feet), and 606/690 (which consists of 3,184 rentable square feet) (the “TI Allowance”) for application to the extent thereof to the cost of $180.00 per rentable square foot of the WorkBasement Space (which, based on 4,006 rentable square feet of Basement Space demised under the Lease, equates to $721,080.00 in the aggregate). If the cost Within 10 business days of receipt of the Work exceeds the TI AllowanceBudget from Landlord, Tenant shall have sole responsibility for the payment notify Landlord how much of such excess cost. If the cost of the Work is less than the TI Allowance, Tenant shall not be entitled to any payment or credit for such excess amount. Notwithstanding the foregoing, Landlord shall pay to Tenant the TI Allowance within thirty (30) days of satisfying the conditions set forth Tenant has elected to receive from Landlord. Such election shall be final and binding on Tenant, and may not thereafter be modified without Landlord’s consent, which may be granted or withheld in this Paragraph 8Landlord’s sole and absolute subjective discretion. In the event Landlord does not pay to Tenant the TI allowance within said thirty (30) days, then the The TI Allowance shall be offered as a rent credit against Tenant’s disbursed in accordance with this Work Letter. Tenant shall have no right to the use or benefit (including any reduction to or payment of Base Rent, and ) of any additional rents due, until portion of the full TI Allowance amount is creditednot required for TI Costs (“Unrequired TI Allowance”), except that Tenant shall be entitled to receive any Unrequired TI Allowance with respect to any space leased to Tenant directly by Landlord in the Building (pursuant to this Lease or otherwise), for Alterations thereto provided that (i) such Alterations are completed no later than twenty-four (24) months after the Commencement Date, (ii) the disbursement of such Unrequired TI Allowance shall be subject to Landlord’s reasonable requirements consistent with the Lease and this Work Letter and (iii) a written request for such disbursement satisfying all such requirements shall have been received by Landlord no later than twenty-four (24) months after the Commencement Date.

TI Allowance. Upon completion of the Work, Tenant shall furnish Landlord with full and final waivers of liens and contractors’ affidavits and statements, in such form as may be reasonably required by Landlord, Landlord’s title insurance company and Landlord’s construction or permanent lender, if any, from all parties performing labor or supplying materials or services in connection with the Work showing that all of said parties have been compensated in full and waiving all liens in connection with the Premises and Building. Tenant shall submit to Landlord a detailed breakdown of Tenant’s total construction costs, together with such evidence of payment as is reasonably satisfactory to Landlord. Upon Tenant’s satisfaction of the requirements set forth in this Section 8 and completion of the Work, (a) Landlord shall provide Tenant with a tenant improvement allowance in the maximum contribute an amount of $25.00 52.00 per rentable usable square foot of Suites 400 the Premises (which consists of 12,018 rentable square feet), and 606/690 (which consists of 3,184 rentable $1,893,372.00 based on 36,411 usable square feet) (the “TI Allowance”), the total amount of which shall be subject to adjustment as set forth in the definition of “Premises” in Paragraph 1 of the Lease, toward the costs incurred for the Tenant Improvements and Change Orders, including, without limitation, painting, carpeting, tile, wall covering, light fixtures, plans, permits, insurance, architectural and engineering fees, signage, data cabling and card access systems (but expressly excluding Tenant’s Property not expressly set forth in the foregoing list); provided, however, that if all or any portion of the TI Allowance is not used on or before the date that is one (1) year after the Commencement Date, the TI Allowance or such portion that is not used shall be lost and shall no longer be available to Tenant. In calculating the cost of Tenant Improvements and Change Orders, Landlord shall give Tenant the benefit of any cash, trade and quantity discounts actually received by Landlord. (b) Except as expressly provided in this Paragraph 3: (i) Landlord has no obligation to pay for application to the extent thereof to cost of any Tenant Improvements or Change Orders in excess of the TI Allowance; and (ii) if the cost of the Work. If the cost of the Work Tenant Improvements and Change Orders exceeds the TI Allowance, Tenant shall have sole responsibility for pay such overage to Landlord within ten (10) business days after the payment receipt of an invoice therefor, accompanied by such excess cost. If detail as may reasonably be requested by Tenant, which invoice may be delivered prior to the cost commencement of the Work is less than the TI Allowance, Tenant shall not be entitled to any payment or credit for such excess amount. Notwithstanding the foregoing, Landlord shall pay to Tenant the TI Allowance within thirty (30) days of satisfying the conditions set forth in this Paragraph 8. In the event Landlord does not pay to Tenant the TI allowance within said thirty (30) days, then the TI Allowance shall be offered as a rent credit against Tenant’s Base Rent, and any additional rents due, until the full TI Allowance amount is creditedconstruction.