IMPROVEMENT OF MEZZANINE SPACE/ADDITIONAL RENT Clause Samples

IMPROVEMENT OF MEZZANINE SPACE/ADDITIONAL RENT. Tenant shall be entitled to improve all or any portion of the Mezzanine Space with improvements and alterations reasonably approved by Landlord, utilizing a contractor reasonably approved by Landlord. Upon request by ▇▇▇▇▇▇, Landlord shall reimburse Tenant for the actual out-of-pocket costs of such improvements, not to exceed a total reimbursement of thirty dollars ($30.00) per Rentable Square Foot of Mezzanine Space so improved (the "Mezzanine Allowance") , provided that (i) Tenant shall be entitled to utilize the Mezzanine Allowance only if Tenant has not been in default under any material term of this Lease more than twice in any twelve (12) month period, (ii) the Mezzanine Allowance shall be paid in one lump sum payment upon substantial completion of the improvements to the Mezzanine Space and release of any contractor's lien claims thereto, (iii) such improvements shall be substantially complete not later than the end of the thirty-fourth (34th) month of the initial Lease Term, (iv) upon payment of the Mezzanine Allowance, the improved space shall become Improved Mezzanine Space, and (v) beginning with the first payment of Base Monthly Rent coming due after payment of the Mezzanine Allowance, Tenant shall pay Additional Rent on the Improved Mezzanine Space in the amount necessary to amortize the Mezzanine Allowance actually paid by ▇▇▇▇▇▇▇▇, with interest at ten percent (10%) per annum from date of payment, the amortization to be in equal monthly installments over the remaining months of the initial Lease Term. The Additional Rent specified in the preceding sentence shall be in lieu of any Additional Rent due under subsection (a) above. Landlord: TEACHERS INSURANCE & ANNUITY ASSOCIATION ---------------------------------------- By ▇▇▇▇ ▇. ▇▇▇▇ ----------------------------------- Its ▇▇▇▇ ▇. ▇▇▇▇ Assistant Secretary Tenant: NEOPATH, INC. ----------------------------------------- By ▇▇▇▇ ▇. ▇▇▇▇▇▇ ---------------------------------------- ▇▇▇▇ ▇.▇▇▇▇▇▇ Its President STATE OF NEW YORK ) ) ss. COUNTY OF NEW YORK ) I certify that I know or have satisfactory evidence that ▇▇▇▇ ▇. ▇▇▇▇ is the person who appeared before me, to be known to be the Assisant Secretary of Teachers Insurance & Annuity Association, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the said instrument to be the free and voluntary act of such party for the uses and purposes mentioned in the...
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Related to IMPROVEMENT OF MEZZANINE SPACE/ADDITIONAL RENT

  • 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.

  • Landlord Improvements Prior to Tenant’s occupancy, Landlord shall complete the Landlord Improvements. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by the Anticipated Rent Commencement Date. (a) As of November 4, 2011, after consultation with Tenant, Landlord has provided Tenant with Landlord’s proposed plans and specifications (defined below in subpart (c))for the Landlord Improvements (such plans and specifications, as amended in accordance with the provisions of this Rider 101, are hereafter called “Plans and Specifications”). (b) The Plans and Specifications have been accepted by both Tenant and Landlord, the Plans and Specifications are incorporated herein by reference and made a part hereof for all purposes. (c) Landlord and Tenant acknowledge that the plans dated November 4, 2011, by Page ▇▇▇▇▇▇▇▇▇▇▇ Page, LLP have been approved by both parties and shall constitute the “Plans and Specifications.” (d) Promptly upon approval of the Plans and Specifications, Landlord has caused general contractors to bid for construction of the Landlord Improvements. All bids have been opened together, with Landlord selecting the general contractor with the lowest bid to construct the Landlord Improvements (the “General Contractor”), subject to the reasonable approval of Tenant. Landlord shall enter into a guaranteed maximum price construction contract with the General Contractor in the amount of its bid (the “Approved Bid”) and shall not modify such contract without Tenant’s consent, which shall not be unreasonably withheld, delayed or conditioned. Landlord and Tenant have reviewed the Plans and Specifications and the bids and have agreed upon the scope of work to be constructed at a cost of construction not to exceed the Landlord’s Contribution.

  • 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.

  • LESSOR'S ACCESS; SHOWING PREMISES; REPAIRS Lessor and Lessor's agents shall have the right to enter the Premises at any time, in the case of an emergency, and otherwise at reasonable times for the purpose of showing the same to prospective purchasers, lenders, or lessees, and making such alterations, repairs, improvements or additions to the Premises or to the Building, as Lessor may reasonably deem necessary. Lessor may at any time place on or about the Premises or Building any ordinary "For Sale" signs and Lessor may at any time during the last one hundred eighty (180) days of the term hereof place on or about the Premises any ordinary "For Lease" signs. All such activities of Lessor shall be without abatement of rent or liability to Lessee.

  • Lessee's Improvements Since Lessor is the Insuring Party, Lessor shall not be required to insure Lessee-Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease.