Fifth Amendment Tenant Improvement Costs definition
Examples of Fifth Amendment Tenant Improvement Costs in a sentence
Any balance of the out-of-pocket cost to perform the Air Handler and Main Air Duct Work above this $750,000 not-to-exceed amount shall be borne by Tenant as part of the Fifth Amendment Tenant Improvement Costs more fully defined in the Fifth Amendment Expansion Workletter.
The ratio of Tenant’s Estimated Share of Fifth Amendment Tenant Improvement Costs to the total estimated Fifth Amendment Tenant Improvement Costs set forth in the Landlord’s Preliminary Estimate approved by Tenant shall be referred to as “Tenant’s Contribution Ratio”.
If the total amount of Tenant Monthly TI Cost Payments previously made by Tenant to Landlord pursuant to this Section 4 is greater than the positive difference between (a) Landlord’s Final TI Cost Summary, minus (b) the amount of the Fifth Amendment Expansion Allowance which Tenant authorized to be applied towards payment of Fifth Amendment Tenant Improvement Costs, Landlord shall immediately remit 100% of such excess Tenant Monthly TI Cost Payments to Tenant.
On or before December 31, 2010, Tenant may request from Landlord an amount of up to $750,000.00 (the “Fifth Amendment Expansion Allowance”) to apply towards Tenant’s payment of the Fifth Amendment Tenant Improvement Costs, subject to the terms and conditions set forth herein.
Monthly, as Landlord incurs Fifth Amendment Tenant Improvement Costs, Landlord shall submit to Tenant invoices from Landlord’s Architect, Landlord’s Engineer, any other consultant retained by Landlord and approved in writing by Tenant or the Contractor, as applicable, evidencing the same (a “Monthly TI Cost Summary”).