Additional Allowance Sample Clauses
The "Additional Allowance" clause defines the provision of extra funds or resources beyond the original agreement, typically to cover unforeseen costs or changes in project scope. In practice, this clause specifies the conditions under which additional amounts may be requested, the approval process required, and any limits or documentation needed to justify the extra allowance. Its core function is to provide flexibility in managing budget overruns or unexpected expenses, ensuring that both parties have a clear process for addressing and funding changes without breaching the original contract terms.
POPULAR SAMPLE Copied 1 times
Additional Allowance. Landlord shall, at Tenant’s request, provide an additional tenant improvement allowance not to exceed Fifty Dollars ($50.00) per rentable square foot of the Premises (the “Additional Allowance”), which amount may be used by Tenant to increase the scope of Core and Shell Work or the Tenant Improvements pursuant to the terms and conditions contained in the Work Letter. In the event Tenant elects to use the Additional Allowance, Tenant shall pay to Landlord, as Rent, an amount equal to the drawn portion of the Additional Allowance, amortized over the initial Term at an interest rate of ten percent (10%) per annum. Tenant shall make payments in respect of the Additional Allowance plus interest thereon in equal monthly installments so that the full amount shall be paid on or before the expiration of the initial Term. Tenant shall pay such amounts with the payment of Basic Annual Rent for each month. If Tenant has not paid the full amount of the Additional Allowance plus interest thereon at the expiration or earlier termination of this Lease (unless such termination is due to an event of casualty or condemnation for which Landlord receives sufficient insurance or condemnation proceeds with respect to the Tenant Improvements to fully compensate Landlord for the amortized value thereof as determined by Landlord in good faith), then upon the expiration or termination of this Lease Tenant shall immediately pay the unpaid portion of such amount to Landlord. The payments Tenant is required to make in respect of the Additional Allowance shall constitute “Additional Rent” in accordance with Section 6.2 hereof. Tenant shall be entitled to prepay the Additional Allowance at any time, without penalty.
Additional Allowance. Permanent employees who have completed five years (10,400 hours) of currently continuous service shall earn annual leave with pay in accordance with their total classified service including military leave, subsequent to January 1, 1938, as follows: 45 - 50 yrs. (93,600 -103,999 hrs.) =10.2 hrs./80 hrs. serv. etc. Solely for the purpose of additional annual leave and longevity compensation, an employee shall be allowed State service credit for: employment in any non-elective excepted or exempted position in a principal Department, the Legislature, or the Supreme Court which immediately preceded entry into the State Classified Service, or for which a leave of absence was not granted; up to five years of honorable service in the armed forces of the United States subsequent to January 1, 1938, for which a Military Leave of Absence would have been granted had the veteran been a State Classified employee at the time of entrance into military service. When an employee separates from employment and subsequently returns, military service previously credited shall not count as current continuous State service for purposes of requalifying for additional annual leave or longevity compensation if the employee previously qualified for and received these benefits.
Additional Allowance. If an employee utilizes any amount of Extended Sick Leave at One-Half (1/2) Pay, he/she will begin re-accumulating the allowance according to the schedule in Subdivision C as if he/she were a new employee. However, an employee will retain any unused Extended Sick Leave at One-Half (1/2) Pay allowance previously accumulated. Retained allowances and additional allowances provided in this subdivision shall not be cumulative and in no event shall the total allowance exceed the maximum allowance set forth in Subdivision C. An employee’s eligibility for additional allowance will be calculated from the day he/she resumes working after having last used Extended Sick Leave at One-Half (1/2) Pay.
Additional Allowance. Tenant may, upon written notice to Landlord given on or before the "Cost Proposal Delivery Date," as that term is set forth in Section 4.2 of this Work Letter, below, elect to cause the Improvement Allowance for the initial Premises to be increased by an amount (the "Additional Allowance") set forth in such notice. Any such resulting Additional Allowance shall (i) be an amount equal to an even number of United States Dollars (as opposed to fractions of United States Dollars), and (ii) in no event exceed the product of (A) [***], and (B) the number of rentable square feet of the Premises (i.e., an amount anticipated to equal [***] based upon 147,533 rentable square feet, which square footage is subject to confirmation pursuant to the TCCs of Section 1.2 of the Lease). In the event Tenant exercises its right to use all or any portion of the Additional Allowance, the Monthly Installment of Base Rent for the Premises shall be increased by an amount equal to the "Additional Monthly Base Rent," as that term is defined below, in order to repay the Additional Allowance to Landlord. The "Additional Monthly Base Rent" shall be determined as the missing component of an annuity, which annuity shall have (w) the amount of the Additional Allowance which Tenant elects to utilize as the present value amount, (x) [***]. If Tenant elects to utilize all or a portion of the Additional Allowance, then (i) all references in this Work Letter to the "Improvement Allowance," shall be deemed to include the Additional Allowance which Tenant elects to utilize, (ii) the parties shall promptly execute an amendment (the "Additional Allowance Amendment") to this Lease setting forth the new amount of the Base Rent and Improvement Allowance computed in accordance with this Section 2.3, and (iii) Tenant shall deliver to Landlord, concurrently with Tenant's execution and delivery of the Additional Allowance Amendment to Landlord, a letter of credit, in the form attached to the Lease as Exhibit H and subject to the terms and conditions of Article 21 of the Lease, in an amount equal to [***], which letter of credit shall be held by Landlord pursuant to the terms of Article 21 of the Lease.
Additional Allowance. Employees in a permanent or limited term position who have completed five years (10,400 hours) of currently continuous service shall earn annual leave with pay in accordance with their total classified service including military leave, subsequent to January 1, 1938 as follows: 10-15 yrs (20,800 - 31,199 hrs) = 5.9 hrs/80 hrs service 15-20 yrs (31,200 - 41,599 hrs) = 6.5 hrs/80 hrs service 20-25 yrs (41,600 - 51,999 hrs) = 7.1 hrs/80 hrs service 25-30 yrs (52,000 - 62,399 hrs) = 7.7 hrs/80 hrs service 30-35 yrs (62,400 - 72,799 hrs) = 8.4 hrs/80 hrs service 35-40 yrs (72,800 - 83,199 hrs) = 9.0 hrs/80 hrs service 40-45 yrs (83,200 - 93,599 hrs) = 9.6 hrs/80 hrs service 45-50 yrs (93,600 -103,999 hrs) = 10.2 hrs/80 hrs service Solely for the purpose of additional annual leave and longevity compensation, an employee shall be allowed State Service Credit for: Employment in any non-elective excepted or exempted position in a principal Department, the Legislature, or the Supreme Court which immediately preceded entry into the State Classified Service, or for which a leave of absence was not granted; up to five years of honorable service in the Armed Forces of the United States subsequent to January 1, 1938, for which a Military Leave of Absence would have been granted had the veteran been a State Classified Employee at the time of entrance upon military service. When an employee separates from employment and subsequently returns, military service previously credited shall not count as current continuous state service for purposes of re- qualifying for additional annual leave or longevity compensation if the employee previously qualified for and received these benefits.
Additional Allowance. Notwithstanding the terms and conditions set forth in Section 2.1, within thirty (30) days after the mutual execution and delivery of this Lease, Tenant shall be entitled, pursuant to a written notice (the “Additional Allowance Notice”) delivered to Landlord, to a one time increase (the “Additional Allowance”) in the Tenant Improvement Allowance in an amount not to exceed $10.00 per rentable square foot of the Premises (i.e., $991,720.00), for the costs relating to the initial design and construction of the Tenant Improvements. In the event that Tenant exercises its right to use all or any portion of the Additional Allowance, then such portion of the Additional Allowance shall be repaid by Tenant to Landlord by increasing Tenant’s monthly Base Rent hereunder by the amount required to fully amortize such portion of the Additional Allowance over the initial Lease Term, in one hundred twenty (120) equal monthly installments, commencing upon the Lease Commencement Date and continuing on the first day of each calendar month thereafter through the Lease Expiration Date (the “Additional Monthly Base Rent”). Such amortization shall be calculated together with interest at the rate of eight percent (8%) per annum. In the event Tenant elects to utilize all or any portion of the Additional Allowance, then (i) the parties shall promptly execute an amendment (the “Amendment”) to the Lease setting forth the monthly Base Rent as increased by the Additional Monthly Base Rent, and (ii) Tenant shall pay to Landlord, concurrently with Tenant’s execution and delivery of the Amendment to Landlord, an amount equal to the first installment of the Additional Monthly Base Rent payment.
Additional Allowance. 22 Permanent employees who have completed five years (10,400 hours) of currently 23 continuous service shall earn annual leave with pay in accordance with their total 24 classified service including military leave, subsequent to January 1, 1938, as follows:
Additional Allowance. Tenant shall, but only if so elected by Tenant in writing prior to the Lease Commencement Date, be entitled to a one-time improvement allowance in an amount not to exceed Seven Hundred Nine Thousand Six Hundred and 00/100 Dollars ($709,600.00, i.e., $25.00 per each of the rentable square feet of the Premises) (the “Improvement Allowance”) to pay for any Tenant Changes. In the event Tenant exercises its right to use all or any portion of the Improvement Allowance, the initial monthly installment of Base Rent for the Premises (as otherwise set forth in Section 4 of the Summary of Basic Lease Information) shall be increased by an amount equal to the “Additional Monthly Base Rent,” as that term is defined hereinbelow. The “Additional Monthly Base Rent” shall be the sum of an amount equal to the missing component of an annuity, which annuity shall have (i) such actual amount of the Improvement Allowance utilized by Tenant as the present value amount, (ii) seventy (70) as the number of payments, and (iii) 0.006667, which is equal to eight percent (8%) divided by twelve (12) months per year, as the monthly interest factor. In the event Tenant uses any portion of the Improvement Allowance, then Landlord and Tenant shall promptly execute an amendment to this Lease setting forth, to the extent applicable, the amount of the Improvement Allowance and the Additional Monthly Base Rent computed in accordance with this Section 2.1.1.
Additional Allowance. Provided that Tenant is not in default under the Lease beyond any applicable notice and cure period, at Tenant's request, Landlord will fund up to an additional $0.15 per rentable square feet in Suite C-200 ($1,602.60) (the "Additional Allowance") toward the cost of a space plan for Tenant's Work in Suite C-200. The drawing of the Additional Allowance shall be on the same terms as the TI Allowance described above.
Additional Allowance. If an employee utilizes any amount of Extended Sick Leave at One-Half Pay, he/she will begin re-accumulating the allowance according to the schedule in Paragraph “C” as if a new employee. However, an employee will retain any unused Extended One- Half Sick Pay allowance previously accumulated. Retained allowances and additional allowance provided in this Section shall not be cumulative and in no event shall the total allowance exceed the maximum allowance set forth in Paragraph “C” of this section. An employee’s eligibility for additional allowance will be calculated from the day the employee resumes working after having last used Extended Sick Leave at One-Half Pay.