Salvage Costs definition
Salvage Costs means the fair market value of any existing improvements that are consistent with the design of the tenant improvements contemplated by Tenant which Tenant desires to retain therein upon taking possession of the Second Expansion Space as reasonably determined by Landlord and Tenant. The amendment shall attach a Work Letter Agreement similar to that attached hereto as Exhibit "C" for the construction of tenant improvements in the Second Expansion Space. If Landlord and Tenant, after good faith negotiations, do not execute the amendment within thirty (30) days after the date Landlord delivers a draft of the amendment to Tenant, Tenant's exercise of the Second Expansion Option shall be deemed null and void, and Landlord shall be free to lease the Second Expansion Space to third parties.
Examples of Salvage Costs in a sentence
Salvage Fund may be Insufficient -------------------------------- As indicated above, the Fund may be required to create a Salvage Fund to cover certain Anticipated Salvage Costs.
Section A: The replacement value of the property insured, with a separate and additional limit of 25% of insured values in respect of Removal of Debris and/or Wreck, and General Average Salvage Costs.
The Salvage Fund may be Insufficient to Cover Salvage Costs and the Fund may be Liable for the excess As indicated above, the Fund may be required to create a Salvage Fund to cover certain Anticipated Salvage Costs.