Examples of Alterations Threshold in a sentence
No approval shall be required for (and the above-specified Alterations Threshold shall exclude) alterations (i) required by applicable Legal Requirements, (ii) pursuant to any Lease existing as of the date hereof or (iii) that are non-structural, such as carpeting or painting.
The “Alterations Threshold” shall initially be One Hundred Thousand and No/100 Dollars ($100,000.00) and shall increase as and when the Alterations Threshold shall increase under the Master Lease.
Landlord will not unreasonably withhold, condition or delay its consent to any purely cosmetic alterations and other minor alterations which are non structural in nature, do not affect the Building's structures or systems in any way, and cost in excess of the Alterations Threshold to perform.
The Board may modify, from time to time, the definition of Primary Business to include any additional business or service activity in which the Company may engage during the Term or to exclude any business or service in which the Company ceases to engage.
Notwithstanding anything to the contrary contained herein, Tenant shall have the right to perform purely cosmetic and decorative work within the Premises (i.e., painting and carpeting) and such work shall not be included within the Minor Alterations Threshold.
Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to alterations to the Improvements on the Property (other than such amounts to be paid or reimbursed by tenants under the Leases) over the Alterations Threshold Amount and Lender may apply such security from time to time at the option of Lender to pay for such alterations.
No approval shall be required for (and the above-specified Alterations Threshold shall exclude) alterations (i) required by applicable Legal Requirements, (ii) pursuant to any Lease existing as of the date hereof, (iii) that are non-structural, such as carpeting or painting or (iv) that are incurred in connection with the remediation of the environmental condition of the Project as required by the BCA.
The term “Minor Alterations Threshold” shall mean One Hundred Twenty Five Thousand ($125,000) Dollars, except that on each anniversary of the Commencement Date, the Minor Alterations Threshold shall be adjusted to reflect the percentage increase in the Consumer Price Index from the Consumer Price Index that is in effect on the Commencement Date.
The term “Minor Alterations Threshold” shall mean Three Hundred Thousand Dollars ($300,000), except that on each anniversary of the Commencement Date, the Minor Alterations Threshold shall be adjusted to reflect the percentage increase in the Consumer Price Index from the Consumer Price Index that is in effect on the Commencement Date.
Thereafter, the then Alterations Threshold Amount shall automatically increase each subsequent Reserve Estimate Year by the same percentage as the Index increases each Reserve Estimate Year above the Index in the prior Reserve Estimate Year.