TI Allowance definition
TI Allowance means (a) One Hundred Twenty Five Dollars ($125.00) per rentable square foot of the Premises (the “Initial TI Allowance”), together with (b) the Additional Allowance. The “TI Costs” shall mean all Tenant Core and Shell Costs (as defined in the Work Letter) and all costs and expenses of performing the TI Work, including without limitation the hard and soft costs of (i) construction, (ii) the Construction Management Fee (as such term is defined in the Work Letter) and any Project or construction management fees paid by Tenant to an unaffiliated third party (such fees not to exceed three percent (3%) of the TI Allowance), (iii) space planning, design, architect, engineering, data and phone cabling and other related services, (iv) costs and expenses for labor, material, equipment, data and phone cabling and fixtures (including, without limitation, any of the Attached Property (as defined in Section 18.5), (v) building permits and other taxes, fees, charges and levies by governmental and quasi-governmental agencies for permits or for inspections of the Tenant Improvements, and (vi) the Warm Shell Costs. In no event shall the TI Allowance be used for: (w) the purchase of any furniture, personal property or other non-building system equipment, (x) costs resulting from a Tenant Delay, (y) costs resulting from any default by Tenant of its obligations under this Lease, or (z) costs that are recoverable or reasonably recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors). In the event the estimated total TI Costs (as set forth in the Budget) exceed the TI Allowance, Tenant shall deposit with Landlord such overage (the “TI Allowance Excess”), within five (5) business days of receiving the Budget (the “TI Deposit”). In the event Landlord determines the estimate of the TI Costs set forth in the Budget underestimates the amount of TI Costs so that the TI Deposit will not be sufficient to cover the TI Allowance Excess, then Landlord shall communicate the same to Tenant and, if required by Tenant, the parties shall discuss revisions to the Budget and Tenant may make a TI Tenant Change Order Request to reduce TI Costs, and unless the TI Costs are reduced to be within the Budget and previously paid TI Deposit, Tenant shall promptly pay the additional amount to Landlord, and such additional amount shall be added to the TI Deposit. If the sum of the TI Allowance plus the TI Deposit is not sufficient to cover the TI Costs, Tenant shall reimburse L...
TI Allowance is defined in Section 5.6.
TI Allowance means up to $1,690,210.55 plus the Additional Allowance, if any (as defined and described in the attached Exhibit C), to be funded by Landlord and used exclusively for the design and construction in accordance with the attached Exhibit C.
Examples of TI Allowance in a sentence
Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the TI Allowance.
Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance.
The TI Allowance shall be disbursed in accordance with this Work Letter.
If the entire TI Allowance is not applied toward or reserved for the costs of the Tenant Improvements, then Tenant shall not be entitled to a credit of such unused portion of the TI Allowance.
Landlord shall not be obligated to reimburse Tenant for costs or expenses relating to the Tenant Improvements that exceed the amount of the TI Allowance.
More Definitions of TI Allowance
TI Allowance has the meaning set forth in Paragraph 3(a) of the attached Exhibit A.
TI Allowance. As provided in Exhibit C – Tenant Improvements Work Letter.
TI Allowance means the sum of the Landlord TI Amount and the Tenant TI Amount.
TI Allowance means: (a) as to the Phase 1 Premises, (i) the sum of (A) the product of $21.00 multiplied by the number of Rentable Square Feet of the Phase 1 Premises, plus (B) one-half of the Lobby Cost (as defined below in this paragraph); minus (ii) the sum of $263,000, plus an amount equal to the cost that Landlord reasonably incurs to construct and install restrooms elsewhere on the second floor of L▇▇▇ 2 substantially the same as the existing restrooms on that floor, including the same level of specifications for improvements, hardware, equipment, and finishes; (b) as to the Phase 2 Premises, the product of $56.00 multiplied by the number of Rentable Square Feet of the Phase 2 Premises; and (c) as to the Phase 3 Premises, if any, the amount indicated in the Phase 3 Provisions. The TI Allowance is to be used exclusively for the design and construction of the TI Work in accordance with the attached Exhibit B. Notwithstanding anything to the contrary in this Lease, Landlord maintains the right to reasonably allocate the TI Allowance among the TI Costs of its choosing, for tax purposes. The “Lobby Cost” means the hard and soft costs to construct the following portions of the L▇▇▇ 2 Lobby TI Work by the Contractor to Project standard finish (or its equivalent) as reasonably determined by Landlord: Tenant’s dedicated entry, lobby, lobby-stairs, and lobby elevator.
TI Allowance means the allowance to be given for tenant improvements, as established in the Preliminary Budget developed pursuant to Section II of this Work Agreement.
TI Allowance means: (a) as to the Phase 1 Premises, (i) the sum of (A) the product of $21.00 multiplied by the number of Rentable Square Feet of the Phase 1 Premises, plus (B) one-half of the Lobby Cost (as defined below in this paragraph); minus (ii) the sum of $263,000, plus an amount equal to the cost that Landlord reasonably incurs to construct and install restrooms elsewhere on the second floor of Lusk 2 substantially the same as the existing restrooms on that floor, including the same level of specifications for improvements, hardware, equipment, and finishes; (b) as to the Phase 2 Premises, the product of $56.00 multiplied by the number of Rentable Square Feet of the Phase 2 Premises; and (c) as to the Phase 3 Premises, if any, the amount indicated in the Phase 3 Provisions. The TI Allowance is to be used exclusively for the design and construction of the TI Work in accordance with the attached
TI Allowance in the maximum amount of $239,400 in the aggregate, which is included in the Base Rent set forth in the Lease.