Improvement Expenses definition

Improvement Expenses means all reasonably documented out-of-pocket amounts actually paid by Parent, any Company or any of their respective Affiliates prior to the Closing (including Approved Capital Expenditures), and all reasonably documented out-of-pocket amounts actually paid by Buyer, Marcus or any of their respective Affiliates after the Closing, in each case, in connection with Improvement Projects. Schedule 2(f) sets forth (a) the agreed upon budgeted amount of all Improvement Expenses, and (b) the amount of all Improvement Expenses actually paid by Parent, the Companies and their respective Affiliates as of the Agreement Date.
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Improvement Expenses means and includes (a) amounts paid by Tenant to third parties (excluding Tenant’s employees) for labor, services, supplies, materials, goods, and other work or items in connection with improving the Premises and (b) the cost of all architectural and engineering construction drawings and specifications required in connection with the Tenant Finish Improvements, all work, labor, material, and equipment necessary to construct the Tenant Finish Improvements in accordance with the approved construction drawings and specifications from the “as is” condition of the Premises (all such construction being hereinafter referred to as the “Work”), and Landlord’s construction review and coordination fee equal to five percent (5%) of the cost of the Work. Tenant may not apply the unused portion of the Tenant Improvements Allowance as a credit against rents next due and payable under the Lease. The Tenant Improvements Allowance must be used (if at all), and the Tenant submissions required above must be received by Landlord, within twelve (12) months after the Commencement Date.
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Improvement Expenses means and includes (a) amounts paid by Tenant to third parties (excluding Tenant’s employees) for labor, services, supplies, materials, wiring and electrical, goods, and other work or items in connection with improving the Premises and (b) the cost of all architectural and engineering construction drawings and specifications required in connection with the Tenant Finish Improvements, all work, labor, material, and equipment necessary to construct the Tenant Finish Improvements in accordance with the approved construction drawings and specifications from the "as is" condition of the Premises (all such construction being hereinafter referred to as the "Work"), and Landlord’s construction review and coordination fee equal to five percent (5%) of the cost of the Work. The Tenant Improvements Allowance must be used (if at all), and the Tenant submissions required above must be received by Landlord, within six (6) months after the Commencement Date of Second Additional Space. Tenant also may apply up to Two Thousand Eight Hundred Twenty-Six Dollars ($2,826.00) of the Second Additional Space portion of the Tenant Improvements Allowance toward Tenant’s moving and relocation expenses as a relocation allowance (the “Relocation Allowance”). The Relocation Allowance is limited to reimbursing Tenant for its actual payments to third parties for Moving and Relocation Expenses (as defined below), including all costs related to information technology, wiring, and electrical. Landlord shall pay the Relocation Allowance to Tenant upon submission to Landlord of copies of paid invoices, receipts, canceled checks, or other satisfactory proof of the amounts paid by Tenant for such third-party expenses. As used herein,
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Examples of Improvement Expenses in a sentence

  • Any advances made towards Property Protection Expenses and/or Property Improvement Expenses shall be deemed to be Servicing Advances.

  • To the extent any such Business Plan (and related strategy) includes any permitted construction or development to be funded by the Company (other than pursuant to Required Funding Draws) (including, if applicable, through Permitted Capital Improvement Expenses, such Business Plan (and any update thereto) must include a description of such construction or development in reasonable detail (including the related budget and timeline).

  • The proposed Annual O&M Budget shall include line item budget appropriations for Direct Operating Expenses, Capital Improvement Expenses, the recommended amount for the Contingency, expenses of Operator’s Subcontractors and anticipated cash flow requirements for such year.

  • Servicer shall advance Property Protection Expenses and/or Property Improvement Expenses; provided, however, that Servicer shall not be obligated to make any advance if Servicer determines in its reasonable judgment that such advance will be a Non-Recoverable Advance.

  • The maximum amount of the Future Advances for TI/LC Expenses $8,000,000.00 (the “Maximum TI/LC Expense Future Advance Amount”), and the maximum amount of the Future Advances for Capital Improvement Expenses is $12,000,000.00 (the “Maximum Capital Improvement Expenses Future Advance Amount”).

  • Following prior notice from Buyer, Parent and the Companies shall provide Buyer reasonable access to the Leased Premises at which the Improvement Projects are being completed (together with invoices or any other documentation relating to the Improvement Expenses incurred with respect to such Improvement Projects) to monitor the progress and cost of the Improvement Projects.

  • If Owner fails to approve an Annual Maintenance Plan for any calendar year prior to the commencement of such year, the Parties shall use the prior year’s Annual Maintenance Plan with respect to Direct Operating Expenses and other expenses less than $100,000 per project item, including Capital Improvement Expenses, until a new Annual Maintenance Plan is agreed, except that the Annual O&M Budget for the prior year shall be increased annually for inflation (but not decreased for deflation) based on the CPI.

  • The Tenant Improvements Allowance is otherwise limited to Improvement Expenses (as defined below).

  • To the extent no funds remain on deposit in the Escrow Account to pay Property Protection Expenses and/or Property Improvement Expenses, Servicer shall advance such amounts; provided, however, that Servicer shall not be obligated to make any advance if Servicer determines in its reasonable judgment that such advance will be a Non-Recoverable Advance.

  • Following prior notice from Parent, Marcus and Buyer shall provide Parent and its representatives reasonable access to the Leased Premises at which the Improvement Projects are being completed (together with invoices or any other documentation relating to the Improvement Expenses incurred with respect to such Improvement Projects) to monitor the progress and cost of the Improvement Projects.