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.
Appears in 1 contract
Samples: Lease (Iteris, Inc.)
Unused Allowance. If Except as provided below in this Section 7, Landlord shall only be obligated to make disbursements from the actual cost Refurbishment Allowance to the extent costs are incurred by Tenant for Refurbishment Allowance Items. All Refurbishment Allowance Items for which the Refurbishment Allowance has been made available shall be deemed Landlord’s property. Notwithstanding the foregoing, if Tenant uses less than the entire amount of the Improvements does not exceed the Improvement AllowanceRefurbishment Allowance for Refurbishment Allowance Items, then Tenant may use up to $59,800.00 of the unused portion of the Improvement Allowance request, by providing written notice (the “Maximum AmountRequest Notice”) to reimburse Tenant for the actual out-of-pocket costs it pays Landlord at any time after January 1, 2006 but no later than December 31, 2006, an amount (“Rent Credit”) equal 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 following amounts: (A) the remaining portion of the unused Improvement AllowanceRefurbishment Allowance and (B) an amount equal to Three and 50/100 Dollars ($3.50) per rentable square foot of the Premises. After If Tenant timely delivers a Request Notice, the Improvements are completedRent Credit will be proportionately applied in equal amounts as a credit to Tenant’s monthly Basic Rental obligation for twenty-four (24) months, commencing with the first day of the month following Landlord’s receipt of the Request Notice. In addition, Tenant shall have the right option in the Request Notice, to make one the extent such amount is available as a part of the Rent Credit, to request for that up to Two Dollars ($2.00) per rentable square foot of the reimbursement of Expenses Premises (the “Reimbursement RequestCalabasas Allowance”) and be added to Tenant’s refurbishment allowance for permanently affixed improvements under the Reimbursement Request Calabasas Amendment (as defined in Section 8 below), in which case the Calabasas Allowance shall include all Expenses for which be deducted from the Rent Credit. If Tenant timely requests reimbursement. Landlord shall have no obligation to reimburse Tenant for any Expense that is not included the Calabasas Allowance in the Reimbursement Request. Any portion Request Notice, the disbursement of the Improvement Calabasas Allowance that has not been expended on or before December 31, 2017 on will be governed by the construction terms and conditions of the Improvements or on the reimbursement of Expenses shall be retained by Calabasas Amendment. Upon request from Landlord, and Tenant shall have no further right to execute commercially reasonable documentation regarding the use of such unused portion application of the Improvement Allowance for any purposeRent Credit and/or the Calabasas Allowance.
Appears in 1 contract
Samples: Lease (Digital Insight Corp)
Unused Allowance. If the actual cost of the Improvements does not exceed the Improvement mprovement Allowance, Tenant may use up to $59,800.00 of the unused portion of the Improvement Allowance llowance (the “"Maximum Amount”Amounf') to reimburse Tenant for the actual out-of-pocket costs it pays to unrelated nrelated third parties in order to (a) move its existing furniture and equipment into the Expansion Space, (bSpace,(b) purchase urchase new furniture and equipment for use in the Expansion Space and (c) install telephone and computer omputer cabling in the Expansion Space (collectively, “"Expenses”"). If Tenant desires to use the unused portion ort on of the Improvement Allowance (not to exceed the Maximum Amount) to reimburse itself for Expenses, Tenant enant shall provide to Landlord bills, invoices and other information reasonably acceptable to Landlord to document ocument monies paid by Tenant for Expenses, and Landlord shall reimburse Tenant within thirty thi rty (30) days after fter receiving such information for the lesser of the Maximum Amount and amount of the unused Improvement mprovement Allowance. After the Improvements are completed, Tenant shall have the right to make one request equest 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 bligation to reimburse Tenant for any Expense that is not included in the Reimbursement Request. Any portion ort on of the Improvement Allowance that has not been expended on or before December 31, 2017 31,2017 on the construction onstruction of the Improvements or on the reimbursement of Expenses shall be retained by Landlord, and Tenant enant shall have no further right to the use of such unused portion of the Improvement Allowance for any purpose.urpose. (i)
Appears in 1 contract
Samples: Office Lease (Iteris, Inc.)
Unused Allowance. If Except as provided below in this Section 6, Landlord shall only be obligated to make disbursements from the actual cost Refurbishment Allowance to the extent costs are incurred by Tenant for Refurbishment Allowance Items. All Refurbishment Allowance Items for which the Refurbishment Allowance has been made available shall be deemed Landlord’s property. Notwithstanding the foregoing, if Tenant uses less than the entire amount of the Improvements does not exceed the Improvement AllowanceRefurbishment Allowance for Refurbishment Allowance Items, then Tenant may use up to $59,800.00 of the unused portion of the Improvement Allowance request, by providing written notice (the “Maximum AmountRequest Notice”) to reimburse Tenant for the actual out-of-pocket costs it pays Landlord at any time after January 1, 2004 but no later than December 31, 2004, an amount (“Rent Credit”) equal 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 following amounts: (A) the remaining portion of the unused Improvement AllowanceRefurbishment Allowance and (B) an amount equal to Ten Dollars ($10.00) per rentable square foot of the Premises. After If Tenant timely delivers a Request Notice, the Improvements are completedRent Credit will be proportionately applied in equal amounts as a credit to Tenant’s monthly Basic Rental obligation for twenty-four (24) months, commencing with the first day of the month following Landlord’s receipt of the Request Notice. In addition, Tenant shall have the right option in the Request Notice, to make one the extent such amount is available as a part of the Rent Credit, to request for that up to Two Dollars ($2.00) per rentable square foot of the reimbursement of Expenses Premises (the “Reimbursement RequestLindero Allowance”) and be added to Tenant’s refurbishment allowance for permanently affixed improvements under the Reimbursement Request Lindero Amendment (as defined in Section 10 below), in which case the Lindero Allowance shall include all Expenses for which be deducted from the Rent Credit. If Tenant timely requests reimbursement. Landlord shall have no obligation to reimburse Tenant for any Expense that is not included the Lindero Allowance in the Reimbursement Request. Any portion Request Notice, the disbursement of the Improvement Lindero Allowance that has not been expended on or before December 31, 2017 on will be governed by the construction terms and conditions of the Improvements or on the reimbursement of Expenses shall be retained by Lindero Amendment. Upon request from Landlord, and Tenant shall have no further right to execute commercially reasonable documentation regarding the use of such unused portion application of the Improvement Allowance for any purposeRent Credit and/or the Lindero Allowance.
Appears in 1 contract
Samples: Lease (Digital Insight Corp)