Expansion Space Improvements Clause Samples
The Expansion Space Improvements clause defines the responsibilities and procedures related to making improvements or modifications to additional space that a tenant may lease in the future, often referred to as expansion space. Typically, this clause outlines who is responsible for constructing or funding the build-out of the expansion area, the standards or specifications for such improvements, and the timeline for completion. For example, it may specify whether the landlord or tenant will handle the construction and whether allowances or credits apply. The core function of this clause is to ensure clarity and prevent disputes regarding the condition and readiness of expansion space when a tenant exercises its right to lease additional premises.
POPULAR SAMPLE Copied 3 times
Expansion Space Improvements. Tenant shall have the right to make certain improvements to the Expansion Space (the “Improvement Work”). All such Improvement Work shall be constructed from construction drawings prepared by Tenant’s architect and approved in advance by Landlord. Tenant shall be responsible for all necessary costs to complete the Improvement Work including architectural fees and permit costs. Tenant shall perform all Improvement Work utilizing contractors that meet the requirements of Landlord to perform work in the Building.
Expansion Space Improvements a. In conjunction with the Third Amendment, Landlord agrees to provide Tenant an “Expansion Space Improvement Allowance” of $5.00 per Rentable Square Foot contained in the Expansion Space. The Expansion Space Improvement Allowance shall be applied to all hard construction costs and architectural and engineering costs Tenant incurs in designing and constructing the Expansion Space improvements (the “Expansion Space Improvements”) pursuant to Landlord approved plans and specifications (the “Construction and Design Costs”). Prior to construction, Tenant shall have obtained Landlord’s written approval of the Expansion Space Plans and Specifications. The Expansion Space Improvement Allowance shall not be used for Tenant’s moving expenses, decorating, furnishings, trade fixtures or office equipment. Landlord shall retain any portion of the Expansion Space Improvement Allowance that has not been paid or is not otherwise committed pursuant to the approved Expansion Space Improvement Plans and Specifications as of the date the Expansion Space Improvements are completed. Landlord shall reimburse Tenant for its Construction and Design Costs, up to the maximum amount of the Expansion Space Improvement Allowance, within thirty (30) days after receipt of an invoice therefor; provided, however, that Landlord’s reimbursement obligation is contingent upon Tenant providing Landlord with copies of Tenant’s paid invoices and lien waivers from all contractors, subcontractors and suppliers, and such additional supporting documents as Landlord may reasonably request.
b. Tenant will be responsible for all Construction and Design Costs in excess of the Expansion Space Improvement Allowance and Tenant shall pay, prior to delinquency, all such excess costs directly to Tenant’s contractors.
Section 4.1 (a) is hereby amended to provide that, as of the Expansion Space Commencement Date, Tenant shall be entitled to the nonexclusive use of an additional four (4) unreserved and non-exclusive Parking Spaces on the Property per 1,000 rentable square feet of the Expansion Space (for a total of twenty-nine (29) additional Parking Spaces) during the Term, for a total of one hundred forty four (144) Parking Spaces during the Term, which includes the five (5) reserved and the additional Parking Spaces.
9. The Lease is hereby ratified and confirmed in all respects as being in full force and effect, as modified by this Third Amendment.
10. This Third Amendment may be executed in two or more counte...
Expansion Space Improvements. Tenant shall have the right to make certain improvements to the Expansion Space (the “Improvement Work”). All such Improvement Work shall be constructed from construction drawings prepared by Tenant’s architect and approved in advance by Landlord. Tenant shall be responsible for all necessary costs to complete the Improvement Work including architectural fees and permit costs; provided, however, Landlord shall reimburse Tenant for up to $5.00 per rentable square foot for the Expansion Space (for a total of $46,430.00 based on 9,286 rentable square feet of Expansion Space) for Improvement Work expenses (the “Expansion Space Allowance”). The Expansion Space Allowance will be paid by Landlord to Tenant within 30 days’ of Tenant’s request (which request shall be accompanied by reasonable evidence of the expenses incurred) following the Second Expansion Space Commencement Date. Tenant shall perform all Improvement Work utilizing contractors that meet the requirements of Landlord to perform work in the Building.
Expansion Space Improvements. Tenant shall have the right to make certain improvements to the Expansion Space (the “Tenant Improvements”). All such Tenant Improvements shall be constructed from construction drawings prepared by Tenant’s architect and approved in advance by Landlord. Tenant shall be responsible for all necessary costs to complete the Tenant Improvements, including architectural fees and permit costs; provided, however, Landlord shall reimburse Tenant for up to $15.00 per rentable square foot for the Expansion Space for Tenant Improvements expenses (the “Expansion Space Allowance”). The Expansion Space Allowance will be, paid by Landlord to Tenant (a) with respect to the portion of the Expansion Space Allowance applicable to the Suite 2070 Expansion Space, on the Suite 2070 Rent Commencement Date, (b) with respect to the portion of the Expansion Space Allowance applicable to the Suite 2050 Expansion Space, on the Suite 2050 Rent Commencement Date, and (c) with respect to the portion of the Expansion Space Allowance applicable to the Suite 2100 Expansion Space, following the Suite 2100 Rent Commencement Date. Tenant shall perform all Tenant Improvements utilizing contractors that meet the requirements of Landlord to perform work in the Building and shall submit reasonable evidence of the cost of such work to Landlord.
Expansion Space Improvements. Landlord shall provide "Build to Suit" tenant improvements in the Additional Expansion Space per a Mutually acceptable space plan, the total cost of which shall not exceed $10.00 per useable square foot ("Expansion Space Improvements"). Tenant shall have the right to occupy the Additional Expansion Space at any time after the Expansion Space Improvements have been substantially completed. Tenant shall be obligated to pay Basic Rent, Excess Expenses and any other charges for the Additional Expansion Space as of the agreed upon Rent Commencement Date as stated below.
Expansion Space Improvements. Promptly following the vacation of the Expansion Space by the existing occupant, Landlord shall improve the Expansion Space (the “Expansion Space Improvements”) in accordance with the Tenant Work Letter attached to this Agreement as Exhibit “J.”
Expansion Space Improvements. Section 3 of the First Amendment is hereby deleted in its entirety and replaced with the following: “Promptly following the delivery of possession of the Expansion Space to Tenant, Tenant shall improve the Expansion Space (the “Expansion Space Improvements”) in accordance with the Tenant Work Letter attached to this Agreement as Exhibit “J.””
Expansion Space Improvements. Landlord shall construct tenant ---------------------------- improvements to the expansion space in accordance with plans and specifications mutually agreeable to Landlord and Tenant.
Expansion Space Improvements. Landlord shall provide design and construction of the work to the Expansion Space described in Schedule 1 attached hereto (“Expansion Space Improvements”). Tenant may not use or occupy the Expansion Space with a number of personnel greater than is contemplated in the approved space plans.
Expansion Space Improvements. Tenant shall not alter or make improvements to the Expansion Space, and when Tenant’s lease of the Expansion Space terminates, Tenant shall deliver the Expansion Space to Landlord in the same condition it was in when it was delivered by Landlord to Tenant, ordinary wear and tear excepted.