Construction of Alterations. Tenant may construct non-structural alterations, additions and improvements ("Alterations") in the Premises without Landlord's prior approval, if the cost of such work does not exceed Fifty Thousand Dollars ($50,000.00). In the event Tenant desires to make Alterations costing more than Fifty Thousand Dollars ($50,000.00) or structural Alterations, Landlord's consent shall not be unreasonably withheld and, if Landlord does not notify Tenant in writing of its reasonable disapproval of such Alteration within fourteen (14) days following Tenant's written request for approval and delivery to Landlord of the proposed plans, then Landlord shall be deemed to have approved the proposed Alteration. Upon the request of Tenant, Landlord shall within the above-stated fourteen (14) day period advise Tenant in writing as to whether Landlord shall require removal of any Alteration in question upon the expiration or earlier termination of the Lease. After having obtained Landlord's consent, Tenant agrees that it will not proceed to make Alterations until three (3) days from the receipt (or deemed receipt) of such consent, in order that Landlord may post appropriate notices to avoid any liability to contractors or material suppliers for payment for Tenant's Alterations. Tenant will at all times permit such notices to be posted and to remain posted until the completion of work.
Appears in 1 contract
Sources: Lease Agreement (Netro Corp)
Construction of Alterations. Tenant may construct non-structural alterations, additions and improvements ("Alterations") in the Premises without Landlord's prior approval, if the cost of such work the item in question does not exceed Fifty Twenty-Five Thousand Dollars ($50,000.0025,000). In the event If Tenant desires to make Alterations costing more than Fifty Twenty-Five Thousand Dollars ($50,000.0025,000) or structural Alterations, Landlord's consent shall not be unreasonably withheld withheld, and, if Landlord does not notify Tenant in writing of its reasonable disapproval of such Alteration within fourteen (14) days following Tenant's written request for approval and delivery to Landlord of the proposed plans, then Landlord shall be deemed to have approved the proposed Alteration. Upon the request of Tenant, Landlord shall within the above-stated fourteen (14) day period advise Tenant in writing as to whether Landlord shall require removal of any Alteration in question upon the expiration or earlier termination of the LeaseLease Term. After having obtained Landlord's consent, Tenant agrees that it will not proceed to make such Alterations until three (3) days from the receipt (or deemed receipt) of such Landlord's consent, in order that Landlord may post appropriate notices to avoid any liability to contractors or material suppliers for payment for Tenant's Alterationsimprovements. Tenant will at all times permit such notices to be posted and to remain posted until the completion of work.
Appears in 1 contract
Sources: Lease Agreement (Aehr Test Systems)