Landlord Contribution Amount means, with respect to each progress payment, the amount calculated by multiplying: (a) the actual TI Costs to be paid by the applicable progress payment (after deducting any applicable retention), by (b) the quotient obtained by dividing the Base TI Allowance by the Total TI Cost Estimate. Prior to the commencement of construction of the Building Shells, Tenant shall, if requested to do so by Landlord, provide assurances to Landlord's Lender that the funds necessary to pay Tenant's TI Contribution will be immediately available to Landlord as and when needed to pay TI Costs, which assurances shall be reasonably satisfactory to Landlord and Landlord's Lender. As soon as practicable following completion of the Tenant Improvements, Landlord shall notify Tenant of the actual cost of construction of the Tenant Improvements. Tenant shall have the right to audit the books, records, and supporting documents of the Landlord to the extent necessary to determine the accuracy of such notice of actual costs during normal business hours after giving Landlord at least three (3) business days prior written notice. Tenant shall bear the cost of such audit. Any such audit must be conducted, if at all, within one hundred and eighty (180) days after Landlord delivers its notice of actual costs to Tenant. In the event Tenant's payment of Landlord's estimate of Tenant's TI Contribution shall have resulted in either an overpayment or underpayment of the amount
Landlord Contribution Amount shall have the meaning ascribed to such term in the Owner’s LLC Agreement.
Landlord Contribution Amount means an amount equal to all (100%) of pre-development, development, construction (hard and soft costs), pre-opening, opening and any other costs related to the development, construction, promotion and marketing of the Market paid or otherwise settled by Landlord or HHC Member, regardless of whether the amounts are characterized as capital contributions if, and to the extent that, these amounts are incurred by or on behalf of Landlord or HHC Member, as the case may be, and are directly related to the development, construction, pre-opening, opening, promotion, marketing, or any other costs related to the development, operation or marketing of the Market.
Examples of Landlord Contribution Amount in a sentence
The amount of the Development Fee shall be included in the Landlord Contribution Amount.
More Definitions of Landlord Contribution Amount
Landlord Contribution Amount means, with respect to each Approved Replacement, the product of (A) the Replacement Costs of such Approved Replacement (which shall not exceed the cost estimate therefor previously approved by Landlord, unless such excess is approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed), multiplied by (B) a fraction, the numerator of which is the number of years of the useful life of such Approved Replacement that will occur after the expiration of the then-current Lease Term (and any Option Term of any then-exercised 2.2 Option which has not yet commenced), and the denominator of which is the total number of years of the useful life of such Approved Replacement. Promptly following completion of the Approved Replacement, Tenant shall deliver to Landlord a detailed invoice of the Replacement Costs thereof, and Landlord shall pay to Tenant the Landlord Contribution Amount for such Replacement Costs within 30 days after Landlord’s receipt of such invoice. If Landlord fails to pay such Landlord Contribution Amount within such 30-day period, and such failure shall continue for more than 5 business days after notice of such failure is delivered by Tenant to Landlord, then Tenant shall be entitled to deduct from Rent due under the Lease the amount of such Landlord Contribution Amount, plus interest thereon at 10% per annum. If following Landlord’s payment of a Landlord Contribution Amount for a particular Approved Replacement, the Lease Term is extended for the Option Term of a 2.2 Option which was not exercised as of the date such Approved Replacement was installed, then Tenant shall repay to Landlord a portion of such Landlord Contribution Amount equal to the product of (x) such Landlord Contribution Amount, multiplied by (y) a fraction, the numerator of which is the number of years of the useful life of such Approved Replacement that will occur during such Option Term, and the denominator of which is the total number of years of the useful life of such Approved Replacement; such payment by Tenant shall be made within 30 days after Tenant’s receipt of an invoice therefor from Landlord. The parties agree that their respective payments for the Replacement Costs are intended for federal tax purposes to be treated as investments in leasehold improvements depreciable by each party in accordance with and subject to Internal Revenue Code Section 168(i)(8).