Construction of Leasehold Improvements Clause Samples
The 'Construction of Leasehold Improvements' clause outlines the responsibilities and procedures for making physical alterations or additions to a leased property. Typically, it specifies which party (landlord or tenant) is responsible for designing, funding, and carrying out the improvements, as well as any required approvals, timelines, and compliance with building codes. For example, it may require the tenant to submit plans for landlord approval before starting construction. This clause ensures that both parties understand their obligations regarding property modifications, thereby preventing disputes and ensuring that improvements are completed to agreed standards.
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Construction of Leasehold Improvements. A. Landlord shall construct the improvements required to ready the Leased Premises for occupancy by Tenant (the "Leasehold Improvements") in accordance with plans and specifications to be provided by Tenant (the "Plans and Specifications") at Tenant's expense. The Plans and Specifications shall be in form and content as required by the applicable building authorities for the issuance of a building permit and shall otherwise be reasonably acceptable to Landlord. After review and approval of the Plans and Specifications, Landlord shall submit to Tenant a binding cost bid with a line item breakdown of values for construction of the Leasehold Improvements (which shall/-\ include design costs and a charge of twelve percent (120/o) for Landlord's Contractor's overhead, profit, and supervision, and all other line items contained in the Leasehold Improvements). If the binding cost bid is equal to or less than a sum equivalent to $25.00 per usable square foot ("Landlord's Contribution") Landlord shall obtain necessary permits and commence the Leasehold Improvements in accordance with the Plans and Specifications. If the binding cost bid exceeds a sum equivalent to Landlord's Contribution, Tenant shall within the ensuing ten (1 0) days either: (a) pay to Landlord a sum ("Tenants Contribution") that, with the Landlord's Contribution, will equal the binding cost bid; or (b) submit revised Plans and Specifications reflecting changes that will reduce specific line item values so that the total binding cost bid is reduced to a sum equal to or less than the Landlord's Contribution. If neither option (a) nor (b) is exercised by Tenant within the time period provided, Tenant will be deemed to have exercised option (a). Any delay in Tenant's payment of the Tenant's Contribution when due shall entitle Landlord to (a) postpone further work on the Leasehold Improvements and charge a ten percent (IO%) increase on Tenant's Contribution (with a corresponding reduction in Landlord's Contribution), or (b) terminate this Lease. Tenant's Contribution shall be re-calculated and appropriate payments to or from Tenant shall be made upon completion of the Leasehold Improvements based on Landlord's binding cost bid, Landlord's Contribution (based on actual usable square footage) and any change orders requested by Tenant.
Construction of Leasehold Improvements. A description of the improvements required to make the Premises ready for Tenant’s occupancy is set forth on Exhibit B (“Leasehold Improvements”), attached hereto and incorporated herein by reference. If Landlord is providing a build-out allowance to Tenant, the amount is set forth in the Lease Summary and the build-out allowance will be payable in accordance with Exhibit C (“Build-Out Allowance/Cost”), attached hereto and incorporated herein by reference.
Construction of Leasehold Improvements. Licensee/Tenant shall determine (based on good engineering practices) the nature, scope, size of the Concession and Licensee/Tenant shall determine the nature, scope, size of the furniture, fixtures and equipment in the Concession. Licensee/Tenant shall submit plans to Sears, Sears must approve such plans, before commencement of construction. Sears will arrange for construction of all improvements. The expense of all such construction and equipment shall be divided between Sears and Licensee/Tenant as described in Exhibit A.
Construction of Leasehold Improvements. All Leasehold Improvements will be constructed in accordance with the procedures, terms, and provisions of Exhibit D. All Leasehold Improvements shall remain the property of Landlord.
Construction of Leasehold Improvements. Lessor shall provide, at Lessor’s expense and utilizing the services of ▇▇▇▇▇ Construction, tenant improvements consisting of 2 single-wide glass entry doors, 2 single-wide glass entry doors, side by side causing a double door entrywayand 1 loading dock. Lessee shall construct all other leasehold improvements required by Lessee for the Premises (“Tenant Improvements”).
Construction of Leasehold Improvements. Tenant shall retain its own contractor to construct and install leasehold improvements in or respecting the Leased Premises (the "Leasehold Improvements"), pursuant to a written construction contract (the "Construction Contract") and subject to and in accordance with this Schedule 2. Landlord and Tenant expressly understand and agree (i) that Landlord shall have no responsibility or obligation for the construction and installation of the Leasehold Improvements in and to or respecting the Leased Premises, and (ii) Landlord shall have no responsibility or obligation to pay for any of the Leasehold Improvements, except for the Construction Allowance.
Construction of Leasehold Improvements. After the Final Approval Date has occurred and a building permit has been issued, LANDLORD shall undertake a competitive bid process with no fewer than two (2) reputable, licensed contractors. LANDLORD, at its sole discretion, shall select a contractor and shall, through a guaranteed maximum cost or fixed price (at LANDLORD’s sole option) enter into a Construction Contract (“Construction Contract”) with the selected contractor. LANDLORD shall supply TENANT with an itemized tabulation of bids received and shall immediately provide copies of bids received and copies of contracts/purchase orders awarded. The guaranteed maximum or fixed cost shall not be subject to adjustments as a result of errors, omissions and non-compliance with all applicable federal, state and local laws, ordinances, building and other codes, and Labor Standards and Wage requirements of Minnesota. The contractor shall cause the Leasehold Improvements to be constructed in substantial conformance with the Construction Plans and Specifications in a good and workmanlike manner using new and preferably sustainable building materials. LANDLORD shall ensure that the construction complies with all applicable building, health, fire and sanitary codes and regulations, up to and include the successful issuance of a certificate of occupancy for the Leased Premises by the appropriate governmental authority.
Construction of Leasehold Improvements. At such time as Tenant has approved (or is deemed to have approved) the Cost Proposal and has made any required Construction Deposit, Landlord will cause the Leasehold Improvements to be constructed or installed in the Premises in a good and workmanlike manner and according to the Construction Documents and all applicable laws. Upon substantial completion of the construction and installation of the Leasehold Improvements and prior to Tenant's occupancy of the Premises, Tenant will pay to Landlord the amount, if any, by which the Total Cost exceeds the sum of the Landlord's Allowance and the Construction Deposit. Tenant will not be entitled to any credit if Landlord's Allowance exceeds the Total Cost.
Construction of Leasehold Improvements. 6.1 Master Franchisee shall employ a qualified architect or engineer to prepare final plans and specifications for building out the premises for the Franchised Restaurant based upon the plans and specifications furnished by Power Smoothie, and adapted by Master Franchisee, and approved by Power Smoothie.
6.2 Master Franchisee shall submit to Power Smoothie final plans for the Pilot Business and not proceed with any construction until Power Smoothie’s written approval has been received. The use of Power Smoothie approved construction engineers may be a condition to Power Smoothie’s approval herein.
6.3 Master Franchisee shall prepare, or shall cause its Subfranchisees to prepare, final plans and specifications based on the standard plans and specifications for building out premises for Franchised Restaurants approved by Power Smoothie and will not permit any Subfranchisee to deviate from any final plans and specifications without Master Franchisee’s prior written approval.
6.4 Master Franchisee shall not open the Pilot Business for business without the written authorization of Power Smoothie, which authorization may be conditional upon Master Franchisee’s strict compliance with the specifications of the approved final plans and this Agreement. Power Smoothie Café Franchising, Inc.
Construction of Leasehold Improvements. Landlord shall construct Tenant's Initial Tenant Improvements to the Premises in accordance with Exhibit "F" attached hereto.