Examples of Tenant Improvement Allowance in a sentence
In the event Tenant exercises its right to use all or any portion of the Additional Tenant Improvement Allowance, Tenant shall repay the Additional Tenant Improvement Allowance in equal monthly installments concurrent with Tenant’s payment of the monthly Base Rent for the Premises in an amount equal to the “Additional Allowance Monthly Rent,” as that term is defined below, in order to repay the Additional Tenant Improvement Allowance to Landlord.
Tenant shall pay the fees and charges of Project Manager for such services at Tenant’s sole expense, which may be deducted from the Tenant Improvement Allowance.
Tenant may, at its own expense (but subject to reimbursement from the Tenant Improvement Allowance or Additional Tenant Improvement Allowance), install its own security system (“Tenant’s Security System”) in the Premises, subject to Landlord’s prior written consent, which consent shall not be unreasonably withheld or delayed.
If Tenant desires to use any portion of the Additional Tenant Improvement Allowance, Tenant shall deliver written notice thereof to Landlord.
Such fees shall be equal to 2.65% of the cost of any of Landlord’s TI Work funded by the Tenant Improvement Allowance or any Additional Tenant Improvement Allowance, and 2% of costs of Landlord’s TI Work in excess of the Tenant Improvement Allowance and Additional Tenant Improvement Allowance funded by Tenant.