Common use of Additional Allowance Clause in Contracts

Additional Allowance. Notwithstanding the terms and conditions set forth in Section 2.1, within thirty (30) days after the mutual execution and dc]iveiy 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 3 contracts

Sources: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Additional Allowance. Notwithstanding the terms and conditions set forth in Section 2.1Landlord shall, within thirty (30) days after the mutual execution and dc]iveiy of this Leaseat Tenant’s request, 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 provide an amount additional tenant improvement allowance not to exceed Fifty Dollars ($10.00 50.00) per rentable square foot of the Premises (i.e., $991,720.00the “Additional Allowance”), 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 which amount may be repaid used by Tenant to Landlord by increasing Tenant’s monthly Base Rent hereunder by increase the amount required scope of Core and Shell Work or the Tenant Improvements pursuant to fully amortize such portion of the Additional Allowance over terms and conditions contained in 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 annumWork Letter. In the event Tenant elects to utilize all or any use the Additional Allowance, Tenant shall pay to Landlord, as Rent, an amount equal to the drawn portion of the Additional Allowance, then amortized over the initial Term at an interest rate of ten percent (i10%) the parties per annum. Tenant shall promptly execute an amendment (the “Amendment”) to the Lease setting forth the monthly Base Rent as increased by make payments in respect of the Additional Monthly Base Rent, and (ii) 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, concurrently with Tenant’s execution and delivery . The payments Tenant is required to make in respect of the Amendment to Landlord, an amount equal to the first installment ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction DocumentsAllowance shall constitute “Additional Rent” in accordance with Section 6.2 hereof. Tenant shall retain a licensedbe entitled to prepay the Additional Allowance at any time, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documentswithout penalty.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 3 contracts

Sources: Lease (NanoString Technologies Inc), Lease (NanoString Technologies Inc), Lease (NanoString Technologies Inc)

Additional Allowance. Notwithstanding the terms and conditions set forth in Section 2.1, within thirty (30) days after the mutual execution and dc]iveiy 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 ofthe of the Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 2 contracts

Sources: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)

Additional Allowance. Notwithstanding the terms and conditions set forth in Section 2.1, within thirty (30) days after the mutual execution and dc]iveiy 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant ▇▇▇▇▇▇ and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord▇▇▇▇▇▇▇▇’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 1 contract

Sources: Office Lease (Recursion Pharmaceuticals, Inc.)

Additional Allowance. Notwithstanding In addition to Sublandlord's payment of the terms and conditions Tenant Improvement Allowance to Subtenant as set forth in Section 2.19.2 above, within thirty provided that Subtenant is not in default under this Sublease or the Work Letter (30following the expiration of all applicable cure periods without cure), Subtenant, upon written notice to Sublandlord, may elect to have Sublandlord contribute up to an additional Five Dollars ($5.00) days after per RSF for each of Phase I, Phase II and Phase III and the mutual execution and dc]iveiy of this Lease, Expansion Premises for Tenant Improvement Costs and/or Non TI-Costs (the "Additional Allowance"). The Additional Allowance shall be entitled, pursuant disbursed to Subtenant on a written notice (Phased basis in the “Additional Allowance Notice”) delivered to Landlord, to a one time increase (the “Additional Allowance”) in same manner as the Tenant Improvement Allowance in an amount not is disbursed under Section 9.2 above. If Subtenant elects 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 draw down the Additional Allowance, then Subtenant shall reimburse Sublandlord for the Additional Allowance pursuant to monthly payments (due on the same dates and as part of Base Rent for Phase I, Phase II, Phase III and the Expansion Premises) amortized over the Term of the Sublease beginning on the applicable Rent Commencement Date as to each such Phase at the rate of Ten Percent (10%) per annum, compounded annually. Accrued interest at such rates on amounts advanced for any period prior to the applicable Rent Commencement Date as to a given Phase shall be added to the Additional Allowance for purposes of calculation of Subtenant's monthly reimbursement payment hereunder. Anything contained in this Sublease or the Work Letter to the contrary notwithstanding, Subtenant acknowledges and agrees that Sublandlord shall have no obligation to make the Additional Allowance available to Subtenant unless and until Sublandlord receives payment of the Additional Tenant Allowance (as defined in Section 1.01 of the Work Letter) from Master Landlord with respect to the Sublease Premises. No portion of the Additional Allowance as to a given Phase or the Expansion Premises shall be repaid disbursed by Tenant Sublandlord to Landlord by increasing Tenant’s monthly Base Rent hereunder by Subtenant unless and until 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documentsapplicable 1st Installment Payment Date.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 1 contract

Sources: Sublease (E Loan Inc)

Additional Allowance. Notwithstanding Subtenant has elected to have Sublandlord pay an additional allowance in the terms and conditions set forth in Section 2.1, within thirty amount of Two Hundred Fifty Thousand Dollars (30$250,000.00) days after the mutual execution and dc]iveiy 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 Excess Improvement 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), be utilized for the costs relating to the initial design and construction of the Tenant Improvements. In Initial Improvements plus, notwithstanding anything to the event that Tenant exercises its right contrary contained herein, for any other purpose related to use all or any portion Subtenant’s move to and occupancy of the Premises. Subtenant shall repay the Excess Improvement Allowance to Sublandlord as follows: concurrently with its payments to Sublandlord of monthly Basic Rent during the Term, Subtenant shall pay to Sublandlord as 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 necessary to fully amortize such portion of repay the Additional Excess Improvement Allowance in equal monthly payments 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 thereon at the rate of eight nine percent (89%) per annum. In Such monthly payments shall be deemed Additional Rent due under this Sublease, and shall be paid in the event Tenant elects time and manner as Basic Rent is required to utilize all be paid (disregarding any abatement of Basic Rent). If the Sublease is canceled or terminated for any portion reason prior to the expiration of the Additional Allowancefull initial Term of the Sublease, then (i) the parties present value of the unpaid installments of the Excess Improvement Allowance shall promptly become immediately due and payable to Sublandlord. The Excess Improvement Allowance shall be deemed part of the Base Improvement Allowance for purposes of this Subtenant Work Letter, except for Subtenant’s re-payment obligations set forth herein. Upon Sublandlord’s demand, Subtenant shall execute an amendment (the “Amendment”) to the Lease setting forth Sublease, on Sublandlord’s commercially reasonable form, to reflect 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documentsadditional rent described herein.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 1 contract

Sources: Sublease (Electronic Arts Inc)

Additional Allowance. Notwithstanding If the terms cost of the design and conditions set forth in Section 2.1construction of the Initial Alterations exceeds the Alterations Allowance provided for above, within thirty then Landlord will, at Tenant’s request, contribute toward such excess sum an amount not to exceed Two Hundred Seventy Four Thousand Five Hundred Dollars (30$274,500.00) days after the mutual execution and dc]iveiy 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”); provided, however, that the Additional Allowance will not be available for disbursement during any period that Tenant is in default under the Lease (provided, however, that if Landlord did not make a disbursement because Tenant was then in default under this Lease, Landlord shall make the disbursement at such time as the default is cured, provided that all other conditions for the disbursement hereunder have been met) in or after the Tenant Improvement Allowance in an amount not to exceed $10.00 per rentable square foot expiration of the Premises Allowance Availability Period (i.e., $991,720.00as defined above), for . Upon the costs relating to completion of the initial design Alterations and construction the determination 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 actual amount of the Additional Allowance that was disbursed by Landlord (the “Amortization Amount”), Landlord and Tenant shall be repaid enter into an amendment to the Lease which increases the Monthly Rent set forth in this Lease by Tenant to Landlord by increasing Tenant’s monthly Base Rent hereunder by the amount required a sum sufficient to fully amortize such portion of the Additional Allowance Amortization Amount over the initial Lease Term, in one hundred twenty (120) equal monthly installments, period commencing upon on the Lease Rent Commencement Date and continuing ending on the first day of each calendar month thereafter through the Lease Expiration Date (the “Additional Monthly Base Rent”). Such Date, which amortization shall be calculated together with on a straight line basis at an interest at the rate of eight percent (8%) per annum. In Such amendment shall also provide that, if the event Tenant elects Lease terminates prior to utilize all or any the date that the Amortization Amount plus accrued interest is fully repaid to Landlord, then concurrently with such termination of the Lease the then unpaid portion of the Additional AllowanceAmortization Amount, 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3plus all accrued but unpaid interest, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever immediately payable in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewithfull.

Appears in 1 contract

Sources: Office Lease (New Relic Inc)

Additional Allowance. Notwithstanding Landlord shall, at Tenant’s request, provide an additional tenant improvement allowance not to exceed Thirty-Five Dollars ($35.00) per rentable square foot of the terms and conditions set forth in Section 2.1, within thirty (30) days after the mutual execution and dc]iveiy of this Lease, Tenant shall be entitled, pursuant to a written notice (the “Additional Allowance Notice”) delivered to Landlord, to a one time increase Expansion Premises (the “Additional Allowance”) ), which amount may be used by Tenant to increase the scope of Landlord’s Construction Work or the Tenant Improvements pursuant to the terms and conditions contained in the Work Letter and/or pay for any other costs payable by 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 pursuant to the initial design and construction of the Tenant ImprovementsWork Letter. In the event that Tenant exercises its right elects 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 Landlordas Rent, an amount equal to the first installment ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection Allowance disbursed by Landlord, together with interest thereon at the rate of Architect/Space Planner/Construction Documentsnine percent (9%) per annum. Tenant shall retain a licensedmake 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, competentthen upon the expiration or termination of this Lease, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord shall, within thirty (30) days thereafter, pay the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) unpaid portion of such amount to prepare the Construction DocumentsLandlord. The plans and drawings payments Tenant is requested to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review make in respect of the Construction Documents as set forth in this Section 3, Additional Allowance shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewithconstitute “Additional Rent.

Appears in 1 contract

Sources: Lease (Illumina Inc)

Additional Allowance. Notwithstanding So long as Tenant is not in default under the terms Lease (after notice and conditions set forth in Section 2.1, within thirty (30opportunity to cure) days after and if the mutual execution and dc]iveiy cost of this LeaseTenant's Improvements exceeds the Finish Allowance, Tenant shall be entitled, pursuant may request that Landlord provide up 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 additional $10.00 per rentable square foot of the Premises Expansion Space (i.e., $991,720.00the "Additional Allowance"), to be applied to Excess Costs in accordance with this paragraph 4. Upon receipt of a request from Tenant for such Additional Allowance, Landlord will notify Tenant in writing (the costs relating to the initial design and construction "Additional Allowance Notice") of the Tenant Improvements. In adjusted basic rent (the event that Tenant exercises its right "Adjusted Basic Rent") determined pursuant to use all or any portion of this paragraph to incorporate the Additional Allowance, then such portion . The Adjusted Basic Rent will be the sum of Basic Rent due under this Lease plus the Additional Allowance Factor. The "Additional Allowance Factor" shall be the total Additional Allowance amortized over the 184- month term of the Lease for the Expansion Space at a rate of 9% per annum. Upon receipt of the Additional Allowance shall be repaid by Notice, Tenant will have five (5) days to Landlord by increasing notify Landlord, in writing, of Tenant’s monthly Base Rent hereunder by the amount required to fully amortize such portion 's acceptance of the Additional Allowance over Notice. If Tenant accepts the initial Additional Allowance Notice, Tenant will execute an amendment to this Lease Term, in one hundred twenty (120) equal monthly installments, commencing upon so confirming the Lease Commencement Date and continuing Adjusted Basic Rent within 30 days of receipt of same from Landlord. Tenant's obligation to pay the Adjusted Basic Rent shall commence on the first day of each calendar the month thereafter through following the execution of the Lease Expiration Date (amendment and be retroactive to the Delivery Date. If Tenant fails to apply all the Additional Monthly Base Rent”). Such amortization shall Allowance to the cost of Tenant's Improvements, Tenant will have no right to the use of any excess Additional Allowance and the Adjusted Basic Rent will be calculated together with interest at the rate of eight percent (8%) per annumreduced accordingly. In the event Tenant elects fails to utilize all request the Additional Allowance on or any portion before December 31, 2008, or fails to deliver to Landlord written notice of Tenant's acceptance or rejection of the Additional AllowanceAllowance Notice, 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible 's option for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease Additional Allowance shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewithterminate.

Appears in 1 contract

Sources: Office Lease (KBS Real Estate Investment Trust II, Inc.)

Additional Allowance. Notwithstanding In addition to the terms and conditions set forth in Section 2.1, within thirty (30) days after the mutual execution and dc]iveiy 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.Upgrade Allowance provided for in Paragraph 4.2(b) above, $991,720.00), for the costs relating at Tenant’s request to the initial design and Landlord at any time prior to commencement of construction of the Tenant Improvements, given by written notice specifying the amount requested, Landlord will increase the Upgrade Allowance hereunder by up to One Hundred Thousand Dollars ($100,000.00). In the event that If Tenant exercises its right the foregoing option to use all or any portion of increase the Additional Upgrade Allowance, then such portion of the Additional Allowance Basic Rent payable by Tenant pursuant to the Lease shall be repaid increased by Tenant to Landlord by increasing Tenant’s monthly Base Rent hereunder by the an amount required to fully amortize such in equal monthly installments the sum of (i) the portion of said additional Upgrade Allowance requested by Tenant (the Additional “Added Allowance Amount”), plus (ii) interest at ten percent (10%) per annum on the Added Allowance Amount for the period from the Occupancy Date to the Commencement Date, over a ten (10) year term commencing on the initial Lease Term, in one hundred twenty (120) equal monthly installments, commencing upon the Lease Commencement Date and continuing ending on the first day tenth (10th) anniversary of each calendar month thereafter through the Lease Expiration Date (the “Additional Monthly Base Rent”). Such amortization shall be calculated Commencement Date, together with interest at the rate of eight ten percent (810%) per annum. In such event, the event Basic Rent payable by Tenant elects to utilize all or any portion of for the Additional Allowance, then (i) the parties initial Term shall promptly execute an amendment (the “Amendment”) to the Lease setting forth the monthly Base Rent as be increased by the Additional Monthly Base Rentforegoing amortization amount and all references in the Lease to the Basic Rent payable by Tenant during the initial Term shall be amended to increase said Basic Rent by the foregoing amortization amount. Furthermore, and (ii) whenever the Lease provides for the abatement of rent payable by Tenant shall pay to Landlord, concurrently with Tenant’s execution the monthly installments of Basic Rent attributable to the amortization amounts shall not be abated under any circumstances. If the Lease is terminated for any reason, following such termination, and delivery as an obligation which the parties specifically agree shall survive any such termination, Tenant shall continue to make monthly payments to Landlord in the amount of the Amendment foregoing amortization amounts until the tenth (10th) anniversary of the Commencement Date. In the event of such termination, Landlord may require Tenant, in lieu of continuing the foregoing monthly payments, to Landlordpay the then present value of the remaining payments owed by Tenant under the Lease for such amortization, with such present value to be computed using a discount rate equal to the rate of interest then being used to determine the amounts to be added to Basic Rent. Any such election by Landlord to require Tenant to pay said present value shall be made by notice to Tenant on or before the date which is 60 days after the termination of the Lease. Payment of said present value amount shall be due and payable within 30 days after such notice. The failure by Tenant to make any payments required under this Paragraph 4.2(c) shall be deemed to be a monetary default under the Lease and shall entitle Landlord to all of its rights and remedies as provided therein, including, without limitation, the rights and remedies provided for in Article 22 of the Lease. In addition, the LC Stated Amount set forth in Section 19.2 of the Lease shall be increased by an amount equal to the first installment ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in highone-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord half (the “Architect/Space Planner”1/2) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as Added Allowance Amount, and Tenant shall, prior to commencement of the construction of the Tenant Improvements, deliver an amendment to the LC increasing the LC Stated Amount by such amount, or another letter of credit for such amount otherwise meeting the requirements for the LC set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review Article 19 of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewithLease.

Appears in 1 contract

Sources: Office Lease (Genius Products Inc)

Additional Allowance. Notwithstanding If the terms estimated cost of designing and conditions set forth constructing improvements in Section 2.1the Expansion Space exceeds the Allowance, within thirty Subtenant may elect to borrow up to $140,720.00 (30i.e., $10.00 per rentable square foot in the Expansion Space) days after the mutual execution and dc]iveiy 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”) from Sublandlord in order to finance Subtenant’s expenditure of over-Allowance amounts in the Tenant Improvement Allowance in an amount not to exceed $10.00 per rentable square foot improvement of the Premises Expansion Space (i.e., $991,720.00including the installation of cabling), . Subtenant shall not be entitled to any of the Additional Allowance as a reimbursement for the costs relating to the initial design and construction acquisition of personal property. If, following receipt of the Tenant Improvements. In the event that Tenant exercises its right construction bids or upon completion of Subtenant’s improvements, Subtenant so desires to use borrow all or any portion of the Additional Allowance, Subtenant will submit to Sublandlord a request for payment, including in such request the items described in clauses (1) through (3) of Section 7(a)(ii) above with respect to any costs for which Subtenant desires payment. In either event, Subtenant must make its election as to whether or not to borrow any Additional Allowance on or before March 31, 2007. Any Additional Allowance borrowed by Subtenant pursuant to the provisions of this Section 7(a)(iii) shall be repaid to Sublandlord as additional Base Rent in equal monthly installments over the then such remaining (as of the date of Subtenant’s disbursement of the Additional Allowance) portion of the Additional Allowance shall be repaid by Tenant Term (as extended pursuant 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 TermSection 2 above), 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 an annual rate of eight equal to seven percent (87%) per annum. In ), all as determined in accordance with a standard payment schedule prepared by Sublandlord after the event Tenant elects to utilize all or any portion disbursement of the Additional Allowance, then such repayment to commence as of the first day of the calendar month next succeeding the calendar month in which Sublandlord funds the Additional Allowance. If, however, Subtenant is in monetary default under the Sublease (ias amended hereby) after the parties expiration of applicable cure periods, the entire unamortized balance of any Additional Allowance borrowed by Subtenant shall promptly execute an amendment (the “Amendment”) become immediately due and payable and, except to the Lease setting forth the monthly Base Rent as increased extent required by the Additional Monthly Base Rentapplicable law, 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 ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder shall be known collectively as the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions subject to mitigation or errors contained reduction in the Construction Documents, and Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions connection with a reletting of the base building plansSubleased Premises by Sublandlord, and Tenant and Architect/Space Planner and, if such unamortized Additional Allowance is so paid by Subtenant, Subtenant’s Base Rent payable thereafter shall be solely responsible for reduced as necessary to reflect the same, and Landlord shall have fact that Base Rent will no responsibility in connection therewithlonger include as a component the repayment of Additional Allowance.

Appears in 1 contract

Sources: Sublease (Onyx Pharmaceuticals Inc)

Additional Allowance. Notwithstanding the terms and conditions set forth Provided Tenant is not in Section 2.1, within thirty (30) days after the mutual execution and dc]iveiy of this Leasedefault, Tenant shall be entitledhave the right to require Landlord to contribute up to $448,955.00 (i.e., pursuant to a written notice ($15.00 per rentable square foot of the “Additional Allowance Notice”Premises) delivered to Landlord, to a one time increase (the “Additional Allowance”) in order to finance the Tenant Improvement Allowance in an amount not to exceed $10.00 per rentable square foot costs of the Premises (i.e.Initial Alterations. In order to exercise such right, $991,720.00), for Tenant must provide written notice to Landlord on or before the costs relating to date that is 15 Business Days after the initial design and construction date of the Tenant Improvements. In Lease, which notice shall state the event amount of the Additional Allowance that Tenant exercises its right desires to borrow. The Additional Allowance may only be used for hard costs in connection with Initial Alterations. If Tenant elects to use all or any portion of the Additional Allowance, then such portion of the Additional Allowance shall be repaid provided in the same manner and subject to all of the same terms and conditions as are applicable to the Allowance set forth in Section I(3) above, except that Tenant shall pay Construction Rent as follows: If Tenant elects that Landlord provide the Additional Allowance to Tenant, then Tenant shall pay to Landlord, as Additional Rent, Construction Rent, as hereinafter defined. Construction Rent shall be payable by Tenant to Landlord by increasing Tenant’s monthly Base Rent hereunder by the amount required to fully amortize such portion commencing as of the Additional Allowance over date that is three (3) months after the initial Lease TermCommencement Date, 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 throughout the Lease Expiration Date (Term of the “Additional Monthly Base Rent”)Lease. Such amortization Construction Rent shall be calculated based upon the amount of the Additional Allowance. Tenant’s monthly payments of Construction Rent shall be equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of the Additional Allowance, together with interest at the rate of eight percent (8%) percent per annum, on a level direct reduction basis over an eighty-four (84) month period. In the event Tenant elects to utilize For all or any portion purposes of the Lease, Construction Rent shall be treated as Additional AllowanceRent and shall be stated as Additional Rent on any invoice therefor delivered by Landlord to Tenant. Monthly payments of Construction Rent shall be payable at the same time and in the same manner as Base Rent is payable under the Lease. Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, termination of the Lease). If there is any default (beyond the expiration of any applicable grace periods) of any of Tenant’s obligations under the Lease (including, without limitation, its obligation to pay Construction Rent) or if the Term of the Lease is terminated for any reason whatsoever prior to the termination of the Term of the Lease, 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 immediately upon demand, the unamortized balance of the Additional Allowance. Tenant’s execution and delivery obligation to pay the unamortized balance of the Amendment to Landlord, an amount equal to the first installment ofthe Additional Monthly Base Rent payment. SECTION 3 CONSTRUCTION DOCUMENTS 3.1 Selection of Architect/Space Planner/Construction Documents. Tenant shall retain a licensed, competent, reputable architect/space planner experienced in high-rise office space and Laboratory Use design selected by Tenant and reasonably approved by Landlord (the “Architect/Space Planner”) and licensed, competent, reputable engineering consultants selected by Tenant and reasonably approved by Landlord (the “Engineers”) to prepare the Construction Documents. The plans and drawings to be prepared by Architect/Space Planner and the Engineers hereunder Allowance shall be known collectively as in addition to all other rights and remedies which Landlord has based upon any default of Tenant under the “Construction Documents.” All Construction Documents shall comply with Landlord’s drawing format and specifications. Landlord’s review of the Construction Documents as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Documents are reviewed by Landlord or its space planner, architect, engineers and consultantsLease, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for entitled to any omissions credit or errors contained reduction in such payment based upon amounts collected by Landlord from reletting the Construction Documents, and Premises after the default of Tenant’s waiver and indemnity set forth in Section 10.1 of this Lease shall specifically apply to the Construction Documents. Furthermore, Tenant and Architect/Space Planner shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect/Space Planner shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith.

Appears in 1 contract

Sources: Office Lease Agreement (Karyopharm Therapeutics Inc.)