Additional Work Allowance definition
Examples of Additional Work Allowance in a sentence
It is the intention of the parties that Seller shall provide Purchaser, at Closing, a credit in an amount equal to any unpaid portion of the Work Allowance (the “Work Allowance Credit), and Purchaser (together with Purchaser’s Affiliates) shall, from and after the Closing, assume all obligations and liabilities with respect to the Work Allowance and Additional Work Allowance, and shall pay to Schwab same as and when due.
These rates will be used for the Additional Work Allowance when defined and approved.
If the aggregate total cost of Landlord’s Additional Work is less than the Landlord’s Additional Work Allowance, any remaining unused portion of the Landlord’s Additional Work Allowance which is not applied against any Landlord’s Work Excess as provided in Xxxxxxxxx 0X xxxxx, shall be credited against the next then due installments of Base Rent due from Tenant under this Lease.
In addition, if upon final completion of Landlord’s Additional Work there remains any unused portion of the Landlord’s Additional Work Allowance and there is any Landlord’s Work Excess, then such unused portion of the Landlord’s Additional Work Allowance shall be applied to reduce (or eliminate) the Landlord’s Work Excess, and any remaining unused portion of the Landlord’s Additional Work Allowance after such application shall be credited against Base Rent as provided in Paragraph 4B above.
Landlord shall pay the aggregate cost of Landlord’s Additional Work up to an amount not to exceed the Landlord’s Additional Work Allowance and Tenant shall pay the excess of the aggregate cost of Landlord’s Additional Work over the Landlord’s Additional Work Allowance (the “Landlord’s Additional Work Excess” and collectively with the Landlord’s Work Excess, if any, the “Excess”).
In addition, the amount of the Security Deposit to be furnished by Tenant to Landlord shall be increased by the amount of the Additional Work Allowance actually borrowed by Tenant from Landlord.
Upon request by Landlord, Tenant shall enter into an amendment to this Lease to document any Additional Work Allowance borrowed by Tenant and to reflect any corresponding increases in the Security Deposit and the Base Rental to be paid by Tenant hereunder.
The host communities have also raised concerns about the additional infrastructure that the Applicants seek to construct in public highways for the underground section, as well as construction-related disruptions, that cannot be resolved through conditions.
D16.4 The City reserves the right to delete any or all of the Additional Work Allowance from the Contract if the Work intended to be covered by the Additional Work Allowance is not required, or if the Works intended are found to be more extensive than that provisioned by the Additional Work Allowance.
In the event that Tenant exercises the Additional Work Allowance Option, then the Base Rent during each of the first three (3) months of the Term shall equal $47,623.33 per month ($28.00 per rentable square foot of the Demised Premises per annum), and not $0.00 as stated in clause (i) of this Section 1.03.