Common use of Expansion Space Improvements Clause in Contracts

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.

Appears in 3 contracts

Sources: Office Lease Agreement (Federal Home Loan Bank of Seattle), Office Lease Agreement (Federal Home Loan Bank of Seattle), Office Lease Agreement (Federal Home Loan Bank of Seattle)