Existing Premises Allowance Clause Samples

Existing Premises Allowance. In addition to the Expansion Premises Allowances, Landlord shall provide Tenant with an allowance for the costs (the “Existing Premises Allowance Costs”) of constructing any Alterations to the Existing Premises and/or the Expansion Premises Allowance Costs (including any so-called soft costs of architectural and engineering fees therefor (“Soft Costs”)), in an amount not to exceed Thirty and 00/100 Dollars ($30.00) per square foot of Rentable Floor Area of the Existing Premises (i.e., $4,795,800.00) (the “Existing Premises Allowance”), provided that Tenant may not requisition more than twenty-five percent (25%) of the Existing Premises Allowance for Soft Costs. All Existing Premises Allowance Costs in excess of the Existing Premises Allowance shall be paid for entirely by ▇▇▇▇▇▇, and Landlord shall not provide any reimbursement therefor. Tenant shall be permitted to perform any such Alterations to the Existing Premises and/or improvements to the Expansion Premises beyond the Expansion Delivery Work (any such work, “Tenant Work”) in accordance with Section 8 of the Original Lease, provided that Tenant shall not be obligated to pay Landlord or its managing agent any construction management or oversight fee with respect to the Tenant Work, though Tenant shall remain obligated to reimburse Landlord for any reasonable third-party expenses actually incurred by Landlord in connection with the review of Tenant’s plans for any Tenant Work as provided in Section 8 of the Original Lease (but not to exceed $50,000.00). Tenant must use union labor for any Tenant Work. The Existing Premises Allowance shall be available to Tenant as of the Phase I Expansion Premises Commencement Date. Tenant may submit to Landlord, from time to time but not more often than once per month, requisitions for reimbursement setting forth such actual Existing Premises Allowance Costs, which requisition shall contain invoices and such other evidence of the actual Existing Premises Allowance Costs incurred by Tenant as Landlord may reasonably request, together with evidence satisfactory to Landlord that the same have been paid (including final, unconditional lien waivers for the portion of the work and which is in excess of $10,000.00 that is the subject of the applicable requisition), and a certificate by the architect or contractor that the work covered by the application has been completed in compliance with the provisions of Section 8 of the Original Lease. Landlord shall reimburse Tenant fr...
View Source
Existing Premises Allowance. Subject to the terms of this Section 2(d), Landlord will give Tenant a cash allowance in the maximum amount of [***] per rentable square foot of the Existing Premises located on the 3rd and 4th floors of the Building (the “Existing Premises Allowance”) as Landlord’s contribution to the Tenant’s upfit of the Existing Premises Improvements. The Existing Premises Allowance will be paid within thirty (30) days after ▇▇▇▇▇▇’s written request, which may not be submitted until Tenant has delivered to Landlord all Supporting Documentation with respect to the Existing Premises Improvements, as applicable.
View Source

Related to Existing Premises Allowance

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Altona Area Allowance As of 1 March 2024 an Employee within a 8 km radius from the intersection of Kororoit Creek Road and Millers Road, Altona shall, when employed on chemical or petrochemical plants or on commercial or industrial construction jobs within 1 km of the nearest part of the perimeter of such plants or within the perimeter of storage tank farms, be paid an all- purpose allowance of $1.55 per hour extra. This allowance will be adjusted annually in accordance with CPI (All Groups, Melbourne) movements measured in the twelve month period ending the previous December quarter effective as of 1 March 2025 rounded to the nearest 5 cents.

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.