Common use of Conditions to First Disbursement Clause in Contracts

Conditions to First Disbursement. As a condition to the first disbursement of the Tenant Improvement Allowance, Tenant shall have satisfied all of the following conditions: (a) Tenant shall have delivered to Landlord a duly executed copy of the contract with Tenant’s Architect and the Tenant Improvement Contract; (b) The Final Plans shall have been completed and approved as provided above; (c) Tenant shall have obtained, delivered to Landlord, and be in compliance with all Tenant Improvement Permits; (d) Tenant shall have delivered to Landlord the total budget, which shall become the basis for calculating Landlord’s pro rata contribution towards the Tenant Improvement Work draws, and construction schedule for the Tenant Improvement Work, including an estimated cash flow schedule that describes the timing and amounts of Tenant’s projected Tenant Improvement Allowance draw requests and each party’s pro rata contribution towards the draw requests; and (e) Tenant shall have provided Landlord with any other information reasonably requested by Landlord. Notwithstanding anything to the contrary in this Work Letter, upon the parties approval of the Tenant Improvement Plans and Tenant’s delivery of reasonably detailed invoices, Landlord shall disburse up to $250,000 of the Tenant Improvement Allowance to reimburse Tenant for design, project management, permitting fees and any other pre-construction costs and activities without any requirement for Tenant to satisfy the requirements set forth in Section 5.4 (a) – (e) above.

Conditions to First Disbursement. As a condition to the first disbursement of the Tenant Improvement Allowance, Tenant shall have satisfied all of the following conditions: (a) Tenant shall have delivered to Landlord a duly executed copy of the contract with Tenant’s Architect and the Tenant Improvement Contract; (b) The Final Plans shall have been completed and approved as provided above; (c) Tenant shall have obtained, delivered to Landlord, and be in compliance with all Tenant Improvement Permits; (d) Tenant shall have delivered to Landlord the total budget, which shall become the basis for calculating Landlord’s pro rata contribution towards the Tenant Improvement Work draws, and construction schedule for the Tenant Improvement Work, including an estimated cash flow schedule that describes the timing and amounts of Tenant’s projected Tenant Improvement Allowance draw requests and each party’s pro rata contribution towards the draw requests; and (e) Tenant shall have provided Landlord with any other information reasonably requested by Landlord. Notwithstanding anything to the contrary in this Work Letter, upon the parties parties’ approval of the Tenant Improvement Plans and Tenant’s delivery of reasonably detailed invoices, Landlord shall disburse up to $250,000 of the Tenant Improvement Allowance to reimburse Tenant for design, project management, permitting fees and any other pre-construction costs and activities without any requirement for Tenant to satisfy the requirements set forth in Section 5.4 (a) – (e) above.