Cost of Leasehold Improvements Sample Clauses
The 'Cost of Leasehold Improvements' clause defines which party—typically the landlord or tenant—is responsible for paying for modifications or upgrades made to the leased premises. In practice, this clause may specify whether the tenant must cover all costs for improvements such as new flooring, lighting, or partition walls, or if the landlord will provide an allowance or reimburse certain expenses. Its core function is to allocate financial responsibility for property enhancements, thereby preventing disputes and ensuring both parties understand their obligations regarding improvement costs.
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Cost of Leasehold Improvements. Landlord shall pay all costs and expenses of the Leasehold Improvements (including labor, materials, construction management, architectural and engineering costs) up to the aggregate amount of $45.00 per square foot of Net Rentable Area of the Manufacturing Space only (the “Improvement Allowance”). Landlord shall pay any invoices for consultants engaged directly by Tenant out of the Improvement Allowance within thirty (30) days after delivery. In the event that the cost and expense of constructing and installing any portion of the Leasehold Improvements exceeds the Improvement Allowance (the “Excess Cost”), then prior to Landlord’s awarding of the construction contract with respect to the Leasehold Improvements or, as applicable, Landlord performing any change order work, Tenant shall deposit with Landlord, one hundred ten percent (110%) of the amount of Landlord’s good faith, reasonable estimate of any Excess Cost, or security therefor in a form reasonably acceptable to Landlord. No more frequently than monthly, Landlord shall invoice Tenant for the portion of the Excess Cost expended by Landlord and unpaid by Tenant. Tenant shall pay the invoiced amount within ten (10) business days thereafter. Tenant shall be entitled to authorize Landlord to draw on its security for the invoice amount (plus any costs incurred by Landlord as a result of the draw), provided that the remaining security shall at all times be at least one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. If Tenant pays the invoice amount, Landlord shall approve a reduction in the amount of the security, to an amount equal to one hundred ten percent (110%) of the then-projected Excess Cost not yet expended. In the event that any portion of the Improvement Allowance remains unused on the Leasehold Improvements Completion Date, Tenant shall have the option to have such unused amounts applied to Base Rent first due under this Lease Agreement.
Cost of Leasehold Improvements. Landlord shall pay all costs and expenses of the Leasehold Improvements (including labor, materials, architectural and engineering costs) up to the aggregate amount of $296,541.00 (the “Improvement Allowance”). In the event that the cost and expense of constructing and installing any portion of the Leasehold Improvements exceeds the Improvement Allowance (the “Excess Cost”), Tenant shall pay said Excess Cost as provided below. Prior to Landlord’s awarding of the construction contract with respect to the Leasehold Improvements or, as applicable, Landlord performing any change order work, and in any event, within five (5) days following Landlord’s demand, Tenant shall deposit with Landlord, one hundred percent (100%) of the amount of Landlord’s good faith, reasonable estimate of any Excess Cost, with a final reconciliation being made between the Landlord and Tenant as to such actual Excess Costs as soon as reasonably possible after the Commencement Date.
Cost of Leasehold Improvements. (a) With reasonable promptness after approval of the Plans, Landlord shall provide to Tenant a detailed breakdown of the estimated cost of the leasehold improvements;
Cost of Leasehold Improvements. PWEI will pay for fifty percent (50%) of the cost of all leasehold improvements to the Premises during the Term.
Cost of Leasehold Improvements. Landlord shall pay all costs and expenses of the Leasehold Improvements (including labor, materials, architectural and engineering costs) up to the aggregate amount of $17,140.00 (the “Improvement Allowance”). Tenant’s rights with respect to an unused portion of the Improvement Allowance shall be deemed forfeited on the date that is eight (8) months following the Extension Date. The Improvement Allowance may only be applied towards Leasehold Improvements. Tenant shall be responsible for any such costs and expenses in excess of the Improvement Allowance (the “Excess Costs”) and shall provide payment within 30 days of demand by Landlord. Provided Tenant is not in default of the Lease from the time of exercising the Right to Terminate as contained herein, Tenant will have a one (1)-time option to terminate the Lease after the 12th month of the Term by providing Landlord with a five (5)-month advance written notice to terminate the Lease. Such termination would be effective on the last day of the 12th month. Such termination notice must be accompanied by a payment for any and all unamortized costs including the leasehold improvement costs and commissions paid for by Landlord plus two (2) months rent.
Cost of Leasehold Improvements. Landlord shall pay all costs and expenses of the Leasehold Improvements (including but not limited to, all labor, materials, architectural and engineering costs, permits reports and construction and occupancy certificates).