Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF&E” (defined below). For purposes of this Workletter, “Tenant’s FF&E” shall mean Tenant’s furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof, including, without limitation, “Tenant’s Personal Property” described on Exhibit G hereto. If Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs no later than the date that is one full calendar year following the Delivery Date, Tenant shall have no right to the unused portion of the Allowance.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF& E” (defined below). For purposes of this Workletter, “Tenant’s FF& E” shall mean furniture, furnishings, telephone systems, computer systems, equipment, any other personal property, and installation thereof. Notwithstanding any provision of this Workletter or Lease to the contrary, for purposes of this Workletter and Lease, all property which becomes attached to the Premises or Building, including any part of any laboratory or laboratories for pharmaceutical, life sciences or related purposes (for example and without limitation, laboratory benches, counters, sinks, hoods, ventilation systems, or heating, ventilating or air-conditioning systems): (a) shall not be deemed to be personal property, fixtures or trade fixtures, but shall be deemed to be Tenant Work (and Tenant Additions) and part of the permanent improvements to the Premises or Building at the time of their installation, whether installed by or paid for by Landlord or Tenant, shall without compensation or credit to Tenant remain in the Premises and the Building; and (b) the costs thereof shall be deemed to be Permanent Improvement Costs reimbursable out of the Allowance. Landlord shall provide Tenant a tenant improvement allowance (“Allowance”) in the amount equal to Three Hundred Forty-Eight Thousand Six Hundred Seventy-Five Dollars ($348,675.00). The Allowance shall be used solely to reimburse Tenant for the Permanent Improvement Costs (including, without limitation, the renovation costs to cause the existing restroom within the Premises to comply with ADA requirements applicable as of the Commencement Date). If Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs by December 31, 2012, Tenant shall have no right to the unused portion of the Allowance.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises and any other Tenant Alterations performed by Tenant during the first thirty (30) months of the Term which constitutes permanent improvements to the Premises, including, but not limited to, actual and reasonable costs of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF&E” (defined below). For purposes of this Workletter, “Tenant’s FF&E” shall mean Tenant’s furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof. If Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs no later than the date that is thirty (30) months following the Delivery Date and submit full and complete application(s) for disbursement thereof pursuant to Section 6 below, Tenant shall have no right to the unused portion of the Allowance.
Examples of Permanent Improvement Costs in a sentence
Subject to the terms and conditions of this Workletter, Tenant shall apply the “Allowance” (defined below) to payment of the Permanent Improvement Costs.
Further, prior to any disbursement of the Allowance by Landlord, Tenant shall pay and disburse its own funds for all that portion of the Permanent Improvement Costs equal to the sum of (a) the Permanent Improvement Costs in excess of the Allowance; plus (b) the amount of “Landlord’s Retention” (defined below).
The Allowance shall be used solely to reimburse Tenant for the Permanent Improvement Costs.
Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF& E” (defined below).
Cumulative rebate during the 18-month extension period shall not exceed 20% of the actual Permanent Improvement Costs as described in Section 2.3 above.
More Definitions of Permanent Improvement Costs
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF& E” (defined below). For purposes of this Workletter, “Tenant’s FF& E” shall mean furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof. Landlord shall provide Tenant a tenant improvement allowance (“Allowance”) in the amount equal to Ten Dollars ($10.00) per square foot of the Rentable Area of the Premises (a total of Three Hundred Seventy-eight Thousand Five Hundred Sixty Dollars [$378,560.00]). The Allowance shall be used solely to reimburse Tenant for the Permanent Improvement Costs.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF&E” (defined below). For purposes of this Workletter, “Tenant’s FF&E” shall mean Tenant’s furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof, including, without limitation, “Tenant’s Personal Property” described on Exhibit G hereto. If Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs no later than January 31, 2011, Tenant shall have no right to the unused portion of the Allowance.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.12 below), and shall exclude costs of “Tenant’s FF&E” (defined below). For purposes of this Workletter, “Tenant’s FF&E” shall mean furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof. Landlord shall provide Tenant a tenant improvement allowance (“Allowance”) in the amount of Nineteen Dollars ($19.00) per square foot of the Rentable Area of the Premises. The Allowance shall be used solely to reimburse Tenant for the Permanent Improvement Costs. If within six (6) months after the Date of the Lease Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs and submit full and complete application(s) for disbursement thereof pursuant to Section 6 below, Tenant shall have no right to the unused portion of the Allowance.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable cost of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to (and subject to the cap in) Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF& E” (defined below). For purposes of this Workletter, “Tenant’s FF& E” shall mean furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof. Landlord shall provide Tenant a tenant improvement allowance (“Allowance”) in the amount equal to Two Million Four Hundred Twenty-Five Thousand Fifty Dollars ($2,425,050.00). The Allowance shall be used solely to reimburse Tenant for the Permanent Improvement Costs; provided that of the total Allowance (i) up to Twenty-Five Thousand Dollars ($25,000.00) shall be reserved solely to reimburse Tenant for the reasonable cost of replacing the roof insulation on the roof any Building, (ii) a minimum of Four Hundred Thousand Dollars ($400,000.00) shall be reserved solely to reimburse Tenant for the Permanent Improvement Costs in the 101 Saginaw Space, (iii) a minimum of Four Hundred Thousand Dollars ($400,000.00) shall be reserved solely to reimburse Tenant for the Permanent Improvement Costs in the 200 & 220 Penobscot Space, and (iv) a minimum of Four Hundred Thousand Dollars ($400,000.00) shall be reserved solely to reimburse Tenant for the Permanent Improvement Costs in the Building 2 Space. Notwithstanding the foregoing, Tenant may, upon written application to Landlord use up to a maximum of Two Hundred Eighty-Eight Thousand Six Dollars ($288,006.00) (the “Special FF&E Allowance”) from the unused portion of the Allowance to reimburse Tenant’s reasonable cost of acquiring and installing Tenant’s FF&E, as more particularly specified on Exhibit B-2 hereto.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof and governmental permits therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF&E” (defined
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof and governmental permit s therefor, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, project management fees and Landlord’s construction administration fee (define d in Section 8.10 below). Provided, however, Permanent Improvement Costs shall exclude costs of “Tenant’s FF&E” (defined below). For purposes of this Workletter, “Tenant’s FF&E” shall mean Tenant’s furniture, furnishings, telephone systems, computer systems, equipment, any other personal property or fixtures, and installation thereof. If Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs no later than the date that is nine (9) months following the Delivery Date, Tenant shall have no right to the unused portion of the Allowance.
Permanent Improvement Costs means the actual and reasonable costs of construction of that Tenant Work which constitutes permanent improvements to the Premises, actual and reasonable costs of design thereof, costs incurred by Landlord for Landlord’s architects and engineers pursuant to Section 3.1, and Landlord’s construction administration fee (defined in Section 8.12 below), and shall include up to a maximum of Five Dollars ($5.00) per square foot of Rentable Area for costs of “Tenant’s FF& E” (defined below). For purposes of this Workletter, “Tenant’s FF& E” shall mean furniture, furnishings, telephone systems and computer systems (including cabling), equipment, any other personal property or fixtures, and installation thereof. If and to the extent that any of the Design Allowance Portion remains unused and available, and only after Tenant has completed the Tenant Work and provided to Landlord all the items required by Section 6.4 below, Tenant may, upon written application to Landlord, use the remainder of the Design Allowance Portion as a credit against rent coming due under the Lease. If Tenant does not utilize one hundred percent (100%) of the Allowance for Permanent Improvement Costs within six (6) months after the execution date of the Lease, Tenant shall have no right to the unused portion of the Allowance. jka v14-Continental_Grand-Learning_Tree-Lease