Initial Required Alterations Clause Samples

Initial Required Alterations. Concurrently with the execution of this Lease, Lessor has approved the Alterations described in Exhibit F attached hereto (which, together with any Hazardous Materials remediation, removal or restoration work or Property Enhancements referred to in Section 11.3(b) below, are herein referred to as the “Required Alterations”). The projected costs approved by Lessor for completion of the Required Alterations described in Exhibit F, and the projected costs approved by Lessor for completion of any additional Required Alterations described in Section 11.3(b) below, shall be “Eligible Costs” in respect of such Required Alterations. For the purposes of this Lease, in addition to any Required Alterations that constitute Major Alterations pursuant to the provisions of Section 11.1, all Required Alterations for which Lessor has an obligation to pay or deposit any Reinstatement Amount shall be deemed to be Major Alterations and shall be subject to all provisions of this Section 11 relating to Major Alterations. Except as otherwise expressly provided in the following provisions of this Section 11.3(a), Lessee shall not commence the construction or installation of any Required Alteration, whether described in Exhibit F or in Section 11.3(b) hereof, unless and until there are sufficient funds available on deposit in the Required Alterations Escrow Account for completion of such Required Alteration as well as any then uncompleted Required Alteration for which work is either then currently in progress or for which Lessee has previously deposited funds within the Required Alterations Escrow Account but has not yet commenced performance of the work required to complete such Required Alteration; provided that the amount required to be on deposit in the Required Alterations Escrow Account with respect to the completion of certain Property Enhancements shall be subject to the provisions of Section 4.1(c) of the Purchase Agreement. Lessee hereby agrees to commence construction and installation of each Required Alteration described in Exhibit F (in such priority of construction and installation as shall be reasonably approved by Lessor) as soon as the funds on deposit in the Required Alterations Escrow Account are sufficient to pay the Eligible Costs therefor, provided that in the event that upon the second anniversary of the Term Commencement Date there are not sufficient funds on deposit in the Required Alterations Escrow Account to pay the Eligible Costs of all such Required A...
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Related to Initial Required Alterations

  • LEASE ALTERATIONS The Owner hereby gives power to the Agent to initiate, sign, renew, modify, or cancel rental agreements and leases for the Property, or any part thereof and collect and give receipts for rents, other fees, charges, and security deposits.

  • Repairs and Alterations There shall be no obligation on the part of Landlord or Sublessor to make any repairs, alterations or improvements in order to make the Premises ready for occupancy by Sublessee. Prior to making any repairs, alterations or improvements on the Premises, Sublessee shall obtain the prior written consent thereto of both Landlord and Sublessor. Any alterations, additions, or improvements made to the Premises, or Sublessee’s behalf, whether at the expense of Sublessee or Sublessor, including but not limited to, wall covering, carpeting, or other floor covering, paneling and built-in cabinets shall be deemed a part of the real estate and the property of Sublessor and shall be surrendered with the Premises unless Landlord or Sublessor, by notice given to Sublessee no later than thirty (30) days prior to the end of the Term, shall elect to have Sublessee remove such alterations, additions, or improvements. Sublessee shall thereupon accomplish such removal at its sole cost and repair any damage to the Premises caused by such removal. In the event that Sublessor consents in writing to any alterations, additions, or improvements to the Premises by Sublessee, they shall be made at the sole cost of Sublessee by licensed contractors or workmen approved by Sublessor. Sublessee shall secure all appropriate governmental approvals and permits and shall complete such alterations with due diligence. Any consent or approval given by Landlord or Sublessor hereunder shall not give rise to rights to third parties to file mechanic’s or materialman’s liens, nor waive Sublessor’s prohibition against such liens, nor in any manner abrogate that Section of this Sublease requiring Sublessee to keep Premises free of liens.

  • Demolition work (i) As of 1 March 2024 where Employees are directly performing demolition works that would require a demolition permit that allows the performance of such work, they will receive the amount of $9.70 per hour or the site allowance, whichever is the greater. 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. (ii) As of 1 March 2024 where Employees are employed in connection with, and on work, with employees of demolition contractors (ie. working within the demolition zone and/or subject to the additional disabilities arising from that demolition), they will receive the amount of $8.70 per hour or the site allowance, whichever is the greater. 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.

  • Alterations Tenant shall not alter or add to any part of the Demised Premises except with Landlord's prior consent which consent shall not be unreasonably withheld or delayed. Tenant shall make all alterations and additions to the Demised Premises at its own risk and cost and in accordance with all applicable laws, and shall indemnify Landlord against all expenses, liens, claims, or damages to either persons or property or to the Demised Premises arising out of or resulting from such alterations or additions. All alterations and additions shall be subject to the approval of Landlord which shall not be unreasonably withheld or delayed and shall remain after the termination of this Lease for the benefit of Landlord unless otherwise provided in said consent. No alterations or additions to the Demised Premises shall be made unless Tenant uses a general contractor reasonably approved by Landlord. Notwithstanding the foregoing, (a)(i) the freight elevator shall not be overloaded beyond the factory certified limits, (ii) any damage to the elevator shall be repaired at Tenant's expense, and (iii) Tenant agrees to use Landlord's current contractor for installation, maintenance, and repairs to the freight elevator; and (b) no modification of the electrical, HVAC, plumbing, fire sprinkler, fire control and suppression systems (halon), and building automation systems of the Demised Premises shall be permitted without Landlord's prior written consent and Landlord's approval of the contractor.

  • Tenant Improvements Tenants construction of the Tenant Improvements in the Suite 120 Premises shall be subject to the terms of the Work Letter attached to the Lease as Exhibit C, except that, notwithstanding anything to the contrary contained in the Work Letter: a. The Tenant Improvements in the Suite 120 Premises shall be constructed pursuant to the space plans attached to this First Amendment as Exhibit B (the “Suite 120 Space Plans”) and the tenant improvement specifications attached to this First Amendment as Exhibit C (the “Suite 120 TI Specifications”), which have been approved by both Landlord and Tenant, and the TI Construction Drawings for the Tenant Improvements for the Suite 120 Premises shall be prepared substantially in accordance with the Suite 120 Space Plans and the Suite 120 TI Specifications (and Landlord may not disapprove any matter in connection therewith that is consistent with the Suite 120 Space Plans and the Suite 120 TI Specifications). b. The Tenant Improvement Allowance and the Additional Tenant Improvement Allowance provided for in Section 6(b) of the Work Letter shall not apply with respect to the Suite 120 Premises and Landlord shall provide a tenant improvement allowance with respect to the Tenant Improvements in the Suite 120 Premises, as follows: (i) a “Suite 120 Tenant Improvement Allowance” in the maximum amount of $185.00 per rentable square foot in the Suite 120 Premises, which is included in the Base Rent set forth in the Lease; and (ii) an “Additional Suite 120 Tenant Improvement Allowance” in the maximum amount of $40.00 per rentable square foot in the Suite 120 Premises, which shall, to the extent used, result in Suite 120 TI Rent as set forth in Section 5(c) below. For the avoidance of doubt, (A) the definition of “TI Allowance” in the Work Letter shall include the Tenant Improvement Allowance, the Additional Tenant Improvement Allowance, the Suite 120 Tenant Improvement Allowance and the Additional Suite 120 Tenant Improvement Allowance, as applicable, and (B) in connection with the Tenant Improvements in the Suite 120 Premises, Landlord shall be entitled to Administrative Rent equal to 1.5% of the “hard” TI Costs incurred in connection with such Tenant Improvements and a fee shall be payable to Tenant’s third party project manager, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ of ▇▇▇▇▇ ▇▇▇▇ LaSalle, not to exceed 1.5% of the “hard” TI Costs of such Tenant Improvements, which amounts shall be payable out of the TI Fund. Landlord and Tenant acknowledge and agree that the Suite 120 Tenant Improvement Allowance and the Additional Suite 120 Tenant Improvement Allowance, to the extent utilized, must be used toward the cost of Tenant Improvements in the Suite 120 Premises. c. Pursuant to the terms of the Work Letter (as amended by this First Amendment), Landlord shall, subject to the terms of the Work Letter (as amended by this First Amendment), make available to Tenant the Suite 120 Tenant Improvement Allowance and the Additional Suite 120 Tenant Improvement Allowance. Commencing on the Rent Commencement Date and continuing thereafter on the first day of each month during the Base Term, Tenant shall pay the amount necessary to fully amortize the portion of the Additional Suite 120 Tenant Improvement Allowance actually funded by Landlord, if any, in equal monthly payments with interest at a rate of 7% per annum over the Base Term, which interest shall begin to accrue on the date that Landlord first disburses such Additional Suite 120 Tenant Improvement Allowance or any portion(s) thereof (“Suite 120 TI Rent”). Any outstanding and unamortized Suite 120 TI Rent remaining unpaid as of the expiration or earlier termination of the Lease shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease. For the avoidance of doubt, Landlord and Tenant acknowledge and agree that Suite 120 TI Rent, if any, shall not be subject to adjustment pursuant to Section 4(a) of the Lease during the Term.