Unused Allowance. If the actual cost of the Improvements does not exceed the Improvement Allowance, Tenant may use up to $59,800.00 of the unused portion of the Improvement Allowance (the “Maximum Amount”) to reimburse Tenant for the actual out-of-pocket costs it pays to unrelated third parties in order to (a) move its existing furniture and equipment into the Expansion Space, (b) purchase new furniture and equipment for use in the Expansion Space and (c) install telephone and computer cabling in the Expansion Space (collectively, “Expenses”). If Tenant desires to use the unused portion of the Improvement Allowance (not to exceed the Maximum Amount) to reimburse itself for Expenses, Tenant shall provide to Landlord bills, invoices and other information reasonably acceptable to Landlord to document monies paid by Tenant for Expenses, and Landlord shall reimburse Tenant within thirty (30) days after receiving such information for the lesser of the Maximum Amount and amount of the unused Improvement Allowance. After the Improvements are completed, Tenant shall have the right to make one request for the reimbursement of Expenses (the “Reimbursement Request”) and the Reimbursement Request shall include all Expenses for which Tenant requests reimbursement. Landlord shall have no obligation to reimburse Tenant for any Expense that is not included in the Reimbursement Request. Any portion of the Improvement Allowance that has not been expended on or before December 31, 2017 on the construction of the Improvements or on the reimbursement of Expenses shall be retained by Landlord, and Tenant shall have no further right to the use of such unused portion of the Improvement Allowance for any purpose.
Unused Allowance. In the event that there remains any unused portion of the Tenant Improvement Allowance following all required disbursements by Landlord in connection with completing the Tenant Improvements, any such amount shall be retained by Landlord. Tenant shall have no entitlement to any excess of the Tenant Improvement Allowance not in good faith consumed in the construction of the Tenant Improvement Allowance Items.
Unused Allowance. Any allowance made available to Tenant under this Construction Agreement must be utilized for its intended purpose during the initial Term or be forfeited with no further obligation on the part of Landlord.
Unused Allowance. If any portion of the Construction Allowance remains unexpended after the earlier of: (a) the payment of the Permitted Costs, and (b) 210 days following the Commencement Date, then the unexpended portion of the Construction Allowance shall become and remain the sole property of Landlord, and neither Tenant nor Tenant’s Contractors shall have any right or interest therein.
Unused Allowance. Upon notice from Tenant to Landlord (the “Election Notice”) delivered on or before the date (the “Outside Date”) which is ninety (90) days following the New Premises Commencement Date, Tenant shall be entitled to utilize any unused portion of the Improvement Allowance (but in no event in excess of $1.00 for each rentable square foot of the New Premises (i.e., in no event greater than $41,718.00)) for reimbursement of Tenant’s actual out of pocket costs incurred to hire a project manager to monitor construction of the Improvements (“Project Manager Costs”), provided that Tenant provides Landlord with all invoices and reasonable supporting documentation evidencing that such Project Manager Costs have been paid. Upon the occurrence of the Outside Date, any portion of the Improvement Allowance which has not been previously disbursed in connection with the Improvements and/or designated by Tenant in the Election Notice for reimbursement of Project Manager Costs shall be retained by Landlord, and Tenant shall have no right to use such amount.
Unused Allowance. No portion of the Allowance may be credited toward Annual Basic Rent or Additional Rent.
Unused Allowance. Any unused part of the Allowance shall be ---------------- credited toward the first payments due from Tenant for the Annual Basic Rent and Additional Rent.
Unused Allowance. (a) If the final Cost of the TI Work is less than the Allowance, Tenant may draw upon such balance and to the extent thereof (only within the first 180 days after the Early Occupancy Date) up to $1.50 per square foot of NRA within the Premises to pay for Tenant’s cost of move-in and up to $2.00 per square foot of NRA within the Premises to pay for the installation of equipment, including the acquisition and installation of cabling, telecommunications and voice data equipment, but in no event may any balance of the Allowance be used for the acquisition of any furniture, fixtures or equipment. Further, any remaining balance of the Allowance may be drawn upon by Tenant for future Alterations to the Premises prior to the last twelve (12) months of the initial Term. Any items paid for (in whole or in part) with the Allowance shall be the property of Landlord upon acquisition thereof and, except as provided in Paragraph 33 of the Lease, Tenant shall not be required to remove same upon termination of the Lease. Tenant shall provide Landlord with reasonable documentation of such costs as a condition to any such draw. Any remaining balance of the Allowance not used prior to the last twelve (12) months of the initial Term shall be forfeited by Tenant and shall thereafter be the sole property of Landlord.
(b) Landlord shall not be required to segregate or escrow any unused balance of the Allowance that Tenant may draw upon hereunder. Landlord’s only obligation for such funds shall be to provide them when and if required herein and subject to the conditions provided for herein. All improvements to the Premises made by Tenant after completion of the TI Work shall in any event be subject to all of the terms and conditions of the Lease pertaining to Alterations by Tenant. Landlord shall not be required to fund any unused portion of the Allowance under this Paragraph 10 at any time that a Tenant Default exists.
Unused Allowance. In the event the Suite 1100 Tenant Improvement Allowance exceeds the total cost of Tenant Improvement Allowance Items for the Suite 1100 Tenant Improvements, then Tenant shall have the right, during the Allowance Period only, to request reimbursement from Landlord for work and improvements permanently affixed to the Existing Premises. In no event shall any unused amount of the Tenant Improvement Allowance be used for furniture, fixtures or equipment or as a credit towards Rent.
Unused Allowance. Upon the completion of the Tenant Improvements with respect to a portion of the Premises, as applicable, Tenant shall have the right, exercisable by written notice to Landlord following the twenty-fourth (24th) month of the commencement of the Term relative to such portion of the Premises, to elect to use any unused amount of the Tenant Improvement Allowance applicable to such portion of the Premises to offset Base Rent, Additional Rent, and other sums next becoming due under this Lease, not to exceed two (2) months’ Base Rent, Additional Rent, and other charges then applicable to such portion of the Premises.
