Common use of Demolition Allowance Clause in Contracts

Demolition Allowance. Subject to the provisions of this section 7, and on the basis of the Landlord’s representation that the following areas have been calculated in accordance with BOMA, and provided the Landlord delivers to the Tenant surveyed plans showing the calculation in accordance with BOMA, the Landlord shall pay to the Tenant an allowance (the “Additional Premises Demolition Allowance”) calculated on an amortized basis of $1.87 per square foot of the actual useable area of the Additional Premises Area being an amount equal to $43,139.03. It is expressly understood and agreed that the Additional Premises Demolition Allowance is to be paid for the purpose of reimbursing the Tenant for the demolition work to be carried out by the Tenant on the Additional Premises (the “Additional Premises Demolition Work”). Provided the Tenant is not then in breach of the Lease and this Agreement, and further provided that the Tenant is occupying all of the fourth and fifth floors of the Building, the Additional Premises Demolition Allowance shall be paid by the Landlord after the last to occur of the following: (a) the receipt by the Landlord from the Tenant of a statutory declaration executed no less than sixty (60) days after completion of the Additional Premises Demolition Work stating that there are no claims of builders’ lien or other liens or encumbrances affecting the Additional Premises with respect to work, services, materials and equipment relating to the Additional Premises, and that the Tenant’s designers, contractors, subcontractors, works, and suppliers of materials and equipment have been paid in full for all work and services performed and materials and equipment supplied by them on or to the Additional Premises; (b) receipt by the Landlord of a copy of this Agreement duly executed by the Tenant; and (c) receipt by the Landlord of a written notice requesting payment of the Additional Premises Demolition Allowance. The Landlord agrees that any portion of the Additional Premises Demolition Allowance not applied by the Tenant to reimbursement of the Additional Premises Demolition Work may be used by the Tenant as a credit against the Rental owing.

Demolition Allowance. Subject to the provisions of this section 7, and on the basis of the Landlord’s representation that the following areas have been calculated in accordance with BOMA, and provided the Landlord delivers to the Tenant surveyed plans showing the calculation in accordance with BOMA, the Landlord shall pay to the Tenant an allowance (the “Additional Premises Demolition Allowance”) calculated on an amortized the basis of $1.87 2.00 per square foot of the actual useable area of the Additional Premises Area being an amount equal (currently estimated at $44,362.00) on the basis of the Landlord’s representation that this area has been calculated in accordance with BOMA, and provided the Landlord delivers to $43,139.03the Tenant surveyed plans showing this calculation in accordance with BOMA. It is expressly understood and agreed that the Additional Premises Demolition Allowance is to be paid for the purpose of reimbursing the Tenant for the demolition work to be carried out by the Tenant on the Additional Premises (the “Additional Premises Demolition Work”). Provided the Tenant is not then in breach of the Lease and this Agreement, and further provided that the Tenant is occupying all of the fourth and fifth floors of the Building, the Additional Premises Demolition Allowance shall be paid by the Landlord after the last to occur of the following: (a) the receipt by the Landlord from the Tenant of a statutory declaration executed no less than sixty (60) days after completion of the Additional Premises Demolition Work Work, stating that there are no not claims of builders’ lien or other liens or encumbrances affecting the Additional Premises with respect to work, services, materials and equipment relating to the Additional Premises, and that the Tenant’s designers, contractors, subcontractors, works, and suppliers of materials and equipment have been paid in full for all work and services performed and materials and equipment supplied by them on or to the Additional Premises; (b) receipt by the Landlord of a copy of this Agreement duly executed by the Tenant; and (c) receipt by the Landlord of a written notice requesting payment of the Additional Premises Demolition Allowance. The Landlord agrees that any portion of the Additional Premises Demolition Allowance not applied by the Tenant to reimbursement of the Additional Premises Demolition Work may be used by the Tenant as a credit against the Rental owing.

Demolition Allowance. Subject to the provisions of this section 724.2, and the Landlord shall pay to the Tenant an allowance (the “Demolition Allowance”) calculated on the basis of $2.00 per square foot of the actual useable area of the Leased Premises, being 41,186 square feet on the basis of the Landlord’s representation that the following areas have this area has been calculated in accordance with BOMA, and provided the Landlord delivers to the Tenant surveyed plans showing the this calculation in accordance with BOMA, the Landlord shall pay to the Tenant an allowance (the “Additional Premises Demolition Allowance”) calculated on an amortized basis of $1.87 per square foot of the actual useable area of the Additional Premises Area being an amount equal to $43,139.03. It is expressly understood and agreed that the Additional Premises Demolition Allowance is to be paid for the purpose of reimbursing the Tenant for the demolition work to be carried out by the Tenant on the Additional Leased Premises (the “Additional Premises Demolition Work”). Provided the Tenant is not then in breach of the Lease and this AgreementLease, and further provided that the Tenant is occupying all of the fourth and fifth floors of the Building, the Additional Premises Demolition Allowance shall be paid by the Landlord after the last to occur of the following: (a) the receipt by the Landlord from the Tenant of a statutory declaration executed no less than sixty (60) days after completion of the Additional Premises Demolition Work Work, stating that there are no not claims of builders’ lien or other liens or encumbrances affecting the Additional Leased Premises with respect to work, services, materials and equipment relating to the Additional Leased Premises, and that the Tenant’s designers, contractors, subcontractors, works, and suppliers of materials and equipment have been paid in full for all work and services performed and materials and equipment supplied by them on or to the Additional Leased Premises; (b) receipt by the Landlord of a copy of this Agreement Lease duly executed by the Tenant; and (c) receipt by the Landlord of a written notice requesting payment of the Additional Premises Demolition Allowance. The Landlord agrees that any portion of the Additional Premises Demolition Allowance not applied by the Tenant to reimbursement of the Additional Premises Demolition Work may be used by the Tenant as a credit against the Rental owing.