Refurbishment Allowance definition
Refurbishment Allowance means $125,000.00, which amount is included in the Estimated Purchase Price as the estimated Refurbishment Cost.
Refurbishment Allowance. Landlord shall provide a refurbishment allowance to Tenant in the amount of $75,000.00 dollars to be applied as rental abatement over the first six (6) months of the Lease. TABLE OF CONTENTS
1 Premises and term 2 Rent 3 Use 4 Taxes 5 Landlord's Repairs and Obligations 6 Tenant's Repairs and Obligations 11 Unusual Equipment 12 Assignment and Subletting 13 Fire and Casualty Damage: Insurance 14 No Liability 15 Condemnation 16 Holding Over 17 Quiet Possession and other Covenants 18 Events of Default 19 Remedies 20 Landlord's Lien 21 Subordination and Attornment 23 Tenant Relocation 24 Payments and Notices 25 Hazardous Waste 26 Parking 27 Miscellaneous 28 Compliance with directives of authorities 29 Additional Construction: Additions to entire property 30 Additional Provisions 31 Rules and Regulations LEASE AGREEMENT THIS LEASE AGREEMENT is made and entered into by and between AIRPORT KEY CORPORATION, a Florida corporation qualified to do business in the State of Florida, hereinafter referred to as "Landlord" and Xxxx Microproducts-Future Tech, Inc., a California corporation, hereinafter referred to as "Tenant";
Refurbishment Allowance. Is defined in Section 1.1(pp) of the Work Letter. Rent: Base Rental, Estimated Base Rental, Tenant’s Forecast Additional Rental, Tenant’s Additional Rental, and any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including without limitation any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant.
Examples of Refurbishment Allowance in a sentence
Landlord shall only be obligated to make disbursements from the Refurbishment Allowance to the extent costs are incurred by Tenant for Refurbishment Allowance Items.
In no event shall Tenant be entitled to any credit for any unused portion of the Refurbishment Allowance.
The Refurbishment Allowance may be used on any alterations or improvements to the Premises approved in writing by Landlord and completed no earlier than 60 days prior to the Effective Date.
All Refurbishment Allowance Items for which the Refurbishment Allowance has been made available shall be deemed Landlord’s property.
In no event shall Landlord be obligated to make disbursements under this Section 5 in a total amount which exceeds the Refurbishment Allowance.
More Definitions of Refurbishment Allowance
Refurbishment Allowance means an amount up to, but not exceeding, (i) $1,104,125.00 (i.e., $25.00 per rentable square foot of the entire Existing Premises and the Atlantic Expansion Space) during the period from February 1, 2013 through and including May 31, 2014, and (ii) $220,825.00 (i.e., $5.00 per rentable square foot of the entire Existing Premises and the Atlantic Expansion Space) during the period from February 1, 2013 through and including November 30, 2015 (each period set forth in clauses (i) and (ii) hereinabove shall be referred to as a “Refurbishment Allowance Availability Period”). The construction and installation of the Refurbishment Work by Tenant shall be made in accordance with the terms of Paragraph 8(c) of the Original Lease (as amended by Paragraph 5 of the Addendum attached to the Original Lease), except that:
Refurbishment Allowance shall not apply to any Project Expansion. Landlord and Tenant further agree that the following defined terms in the Lease Agreement shall have the following meanings in the context of an Article 25 Project Expansion for which an Expansion Notice has been given by Tenant:
Refurbishment Allowance and Section 4.5(a) regarding a monument sign, Section 4.10 "Roof Rights", Section 4.11, Section 4.12 "Emergency Backup", Section 4.2 "Construction Allowance" (except for subparagraphs (b) and (d) of said Section 4.2), and Article VI "Other Allowances" in Addendum Xx. 0 "Xxxx Xxxxxx", Xxxxxxxx Xx. 0 "Options to Extend", Addendum No. 4 "Expansion Options", and Addendum No. 5 "Right of First Offer" of the Lease. Sublessee expressly understands and agrees that any rights of expansion, rights to extend or renew, rights to tenant allowance (except as contained in Paragraph 9 of this Sublease), and rights to rent credits and rent abatement are not applicable to Sublessee.
Refurbishment Allowance defined in Section 2.3, below, Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises. For purposes of Section 1938 of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges that the Common Areas and the Premises have not undergone inspection by a Certified Access Specialist (CASp).
Refurbishment Allowance defined in Section 7(c) of the First Amendment. The Tenant Improvement Allowance and the HVAC Allowance have been requested by Xxxxxx, but not yet disbursed by Landlord. The Refurbishment Allowance will be requested once the Refurbishment Improvements (as defined in the First Amendment) have been performed. Tenant has no disputes or claims outstanding against the Landlord, and there are no offsets due, nor payment currently due to Tenant under the Lease other than the previously requested Tenant Improvement Allowance and the HVAC Allowance.
Refurbishment Allowance means an amount of up to TEN AND NO/100 DOLLARS ($10.00) per RSF in the Ninth Amendment Remaining Premises (i.e. up to $213,250, based on 21,325 RSF in the Ninth Amendment Remaining Premises). Tenant’s obligations under the Lease, as amended hereby (including, without limitation, Tenant’s obligation to pay Rent), are not conditioned on the substantial completion of the Refurbishments by any particular time.
Refurbishment Allowance means an amount, calculated as of the beginning of each option period, equal to the lesser of (i) $41,450.00 increased by increases in the "Index" (as defined below) from the Commencement Date, or (ii) a maximum amount of $62,175.00.