Excess TI Costs definition

Excess TI Costs means all TI Costs in excess of the Maximum TI Allowance.

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Excess TI Costs means the sum of (i) all Costs for Landlord’s TI Work, to the extent in excess of the TI Allowance, plus (ii) the incremental additional cost associated with any Change Orders to Landlord’s TI Work requested by Tenant, plus (iii) any additional costs of construction which are incurred by Landlord due to Tenant Delays or Tenant’s default under the Lease or this Exhibit C or which are otherwise contemplated to be paid by Tenant under this Exhibit C. All Excess TI Costs shall be payable by Tenant to Landlord, at Landlord’s election, either (1) through a cash payment as to all or any part of the amount of such Excess TI Costs, within thirty (30) days after Landlord’s written demand, or (2) by including all or a portion (as Landlord may elect) of such Excess TI Costs in the Total Cost to Complete.

Excess TI Costs. Landlord shall have no obligation to bear any portion of the Excess TI Costs. If Tenant fails to pay Landlord within 10 days after demand for any Excess TI Costs, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. Notwithstanding anything to the contrary contained herein, Landlord shall not be responsible for the purchase or installation of any furniture, personal property or other non-Building system materials or equipment, including, but not limited to, Tenant’s voice or data cabling, non-ducted biological safety cabinets and other scientific equipment not incorporated into the Tenant Improvements.

Examples of Excess TI Costs in a sentence

• If Tenant: (i) approves in writing the cost or savings and the estimated extension in the time for completion of Landlord’s Work, if any, and (ii) deposits with Landlord any Excess TI Costs required in connection with such Change, Landlord shall cause the approved Change to be instituted.

• If Tenant fails to deposit any Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a late charge).

• The TI Allowance and Excess TI Costs are herein referred to as the “TI Fund.” Funds deposited by Tenant shall be the first disbursed to pay TI Costs.

• If upon Substantial Completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed portion of the TI Fund, Tenant shall be entitled to such undisbursed TI Fund solely to the extent of any Excess TI Costs deposit Tenant has actually made with Landlord.

• If the entire Excess TI Costs advanced by Tenant to Landlord are not applied toward the costs of the Tenant Improvements, then Landlord shall promptly return such excess to Tenant following completion of the Tenant Improvements.

• If Landlord approves such Change and Tenant deposits with Landlord any Excess TI Costs (as defined in Section 5(d) below) required in connection with such Change, Tenant may cause the approved Change to be instituted.

• If upon completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed portion of the TI Fund, Tenant shall be entitled to such undisbursed TI Fund solely to the extent of any Excess TI Costs deposit Tenant has actually made with Landlord.

• If Tenant fails to deposit, or is late in depositing any Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a late charge).

• The TI Allowance and Excess TI Costs are herein referred to as the “TI Fund.” Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance.

• The TI Allowance and Excess TI Costs is herein referred to as the “TI Fund.” Funds deposited by Tenant shall be the first thereafter disbursed to pay TI Costs.

More Definitions of Excess TI Costs

Excess TI Costs means the difference between (A) the sum of (i) TI Costs, plus (ii) the incremental additional cost associated with any Change Orders requested by Tenant, and (B) the TI Allowance. For purposes of this definition, Excess TI Costs will include interest accruing on TI Costs and Change Orders in excess of the TI Allowance, from the date such excess amount is incurred by Landlord until the date such amount is reimbursed by Tenant, which accrual shall be at an annual interest rate often percent (10%). The foregoing interest accrual shall not commence to accrue until the later of (i) thirty (30) days after Landlord's written request for payment of such Excess TI Costs by Tenant, or (ii) the date such Excess TI Costs are incurred by Landlord. The provisions governing Tenant's payment of Excess TI Costs are set forth in Part VII of this Exhibit Q. "Final Reconciliation" shall mean a reasonably detailed written reconciliation, prepared by Landlord within sixty (60) days after final completion of the Landlord's TI Work, of any Excess TI Costs. "Force Majeure" shall mean any act of God, war, civil riot, insurrection, strike or other labor dispute not due to the negligence of Landlord, Unusually Inclement Weather, Excessive Permitting Delays, delays caused by condemnation, other unusual governmental delays not due to the negligence of Landlord, fire or other unavoidable casualty, or other cause, event or circumstance of an unanticipated variety and which is beyond the reasonable control of Landlord, provided (i) financial inability shall not constitute a cause, event or circumstance which is beyond Landlord's reasonable control, and (ii) any party claiming the benefit of a delay due to Force Majeure shall have the obligation to use all reasonable and diligent efforts to minimize the duration of such delay and to provide notice thereof within a reasonable time period after such party has knowledge that such a delay has commenced. "Improvements" shall mean the Base Building Improvements and the Tenant Improvements. "Initial Occupancy Costs" shall mean hard costs and soft costs associated with Tenant's initial occupancy of the Premises, such as, but not limited to, costs of purchase, furnishing and C-3

Excess TI Costs. As defined in Section 2.2.

Excess TI Costs monthly disbursements of the Total TI Allowance shall be made on a “pari passu” basis in the proportion that the remaining Total TI Allowance bear to the outstanding TI Costs under the Budget, and Tenant shall fund the balance of each such monthly draw. For purposes of any litigation instituted with regard to such amounts, those amounts required to be paid by Tenant will be deemed Rent under the Lease. The Total TI Allowance and Excess TI Costs are herein referred to as the “TI Fund.” Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for the TI Costs and the cost of Minor Variations in excess of the Total TI Allowance.

Excess TI Costs means the excess, if any, of Total Costs over the turnkey Allowance, per Section 2.3 and 2.4 above. Tenant shall pay Landlord for Excess TI Costs in cash prior to commencement of construction.

Excess TI Costs shall be as defined in Paragraph 7(a) of Exhibit A attached hereto and incorporated herein. -------------- ---------

Excess TI Costs. The costs described in item (4) above are sometimes referred to as the “Excess Landlord Costs.” All Project Costs and Tenant Costs shall be paid and tracked in accordance with the Open Book Accounting Program. The Tenant-Initiated Landlord Improvements Change Costs (as hereinafter defined), the Excess TI Costs and Excess Landlord Costs shall also be tracked in accordance with the Open Book Accounting Program. Without limiting the generality of the foregoing, “Project Costs” shall expressly include the following items: