Examples of Planned Improvements in a sentence
For the avoidance of doubt, Tenant shall be permitted to demolish the Leased Improvements in connection with the construction of the Planned Improvements in accordance with the terms of this Lease.
Tenant shall cause the Planned Improvements to be constructed in a good and workmanlike manner and materially in accordance with the Planned Improvements Requirements and the Host Agreement, and to pay any and all costs necessary to complete the Planned Improvements.
The Planned Improvements shall constitute Capital Improvements for all purposes under this Lease.
Prior to Substantial Completion, any notice to Landlord relating to the Planned Improvements, Construction Budget or any other matter described in this Section 6.5 (including, without limitation, any consent requests or Advance Notices) shall not be effective unless a copy is also delivered to Landlord’s Consultant in accordance with Section 35.1 to an address provided by Landlord.
Tenant shall not make any Capital Improvement (for the avoidance of doubt, excluding any demolition, grading and other site preparation in connection with the Planned Improvements) without the consent of Landlord.
At Tenant’s option, (a) the high-level development budget attached hereto as Schedule 6.5, or (b) a budget to be prepared by Tenant and setting forth the costs and expenses for the construction of the Planned Improvements, as approved by Landlord in its reasonable discretion, it being understood that it will be unreasonable for Landlord to not approve a budget which is customary for construction projects similar to the Facility.
To the extent that Tenant elects to construct the Planned Improvements during the Term of this Lease, Tenant shall cause the Planned Improvements to be constructed in accordance with the terms and conditions set forth herein, subject to (a) Unavoidable Delay and (b) Landlord’s consent given in accordance with the terms set forth herein.
Landlord and Landlord’s Consultant shall have the right from time to time, to inspect the Planned Improvements.
Tenant shall provide Landlord copies of the plans and specifications in respect of all Capital Improvements, which plans and specifications shall be prepared in a high-grade professional manner and shall adequately demonstrate compliance with clauses (i)-(iii) of the preceding sentence with respect to projects (other than the Planned Improvements) that do not require Landlord’s written consent and shall be in such form as Landlord may reasonably require for any other projects.
Landlord shall have the right to engage, at Tenant’s sole cost and expense, but in no event more than One Hundred Thousand Dollars ($100,000) per year, a Landlord’s Consultant to oversee the construction of the Planned Improvements and advise Landlord with respect to the same.