Moving Allowance. Provided that the Initial Improvements have been substantially completed in accordance with this Tenant Improvements Agreement and Tenant has occupied the Premises and all Work has been paid for, and provided that no Event of Default shall then exist under this Lease, to the extent there remain excess funds available under the Construction Allowance, Landlord shall pay to Tenant, upon Tenant's written request, a moving allowance (the "Moving Allowance") in an amount equal to the actual relocation costs incurred by Tenant in moving from Tenant's current location to the Building. The Moving Allowance shall be paid within thirty (30) days following the later of (i) the date upon which Tenant actually commences the conduct of its business in the Premises, and (ii) the date on which all supporting invoices have been submitted to Landlord. All requests for the Moving Allowance must be supported by invoices and paid receipts or other evidence of relocation cost reasonably satisfactory to Landlord. As used herein, the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to fund the Moving Allowance shall terminate and be of no further force or effect with respect to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) is not received by Landlord on or before the Completion Deadline shall be borne by Tenant without any right of reimbursement from Landlord. In no event shall Landlord be obligated to pay the Moving Allowance or any portion thereof beyond the amount of funds available, if any, in the Construction Allowance.
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Moving Allowance. Provided that the Initial Improvements have been substantially completed in accordance with this Tenant Improvements Agreement and Tenant has occupied the Premises and all Work has been paid for, and provided that no Event of Default shall then exist under this Lease, In addition to the extent there remain excess funds available under the Construction AllowanceTenant Improvements, Landlord shall pay provide an allowance of up to Three Dollars ($3.00) per rentable square foot of space in the Premises (i.e., 11,141 rentable square feet multiplied by $3.00 = $33,423.00) (the “Moving Allowance”), to reimburse Tenant for Tenant’s reasonable, actual documented third party costs of relocating to the Premises as well as telephone and data cabling and wiring in the Premises (the “Moving Costs”) or upon the timely receipt of invoices for work which is done as part of the Moving Allowance, Tenant will submit receipts and invoices from third parties and any other evidence Landlord may reasonably request to justify such a disbursement, which will be paid directly to the third party from whom the invoice was generated, excluding any late fees which may be incurred due to Tenant’s failure to timely submit invoices to Landlord, upon which late fees, if any, shall be Tenant's written request, a moving allowance (’s responsibility to pay and shall not be paid from the "Moving Allowance") . Tenant shall not be entitled to such a reimbursement if Tenant is in an amount equal Default under the Lease beyond the expiration of any applicable notice and cure period at the time of Tenant’s request for reimbursement under the Moving Allowance. Tenant’s written request for reimbursement, or for Landlord’s payment directly to third parties, as the actual relocation costs incurred case may be, accompanied by Tenant in moving from Tenant's current location to the Building. The Moving Allowance shall be paid within thirty (30) days following the later of (i) the date upon which Tenant actually commences the conduct invoices and such other documentation reasonably requested by Landlord of its business in the Premises, and (ii) the date on which all supporting invoices have been submitted to Landlord. All requests for eligible Moving Costs from the Moving Allowance must be supported by invoices and paid receipts submitted to Landlord prior to one hundred twenty (120) days following the Commencement Date, or other evidence of relocation cost reasonably satisfactory to Landlord. As used herein, the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contrary, Landlord's Landlord sha ll have no further obligation to fund make such a reimbursement hereunder. Tenant’s Moving Costs in excess of the Moving Allowance shall terminate and be of no further force or effect with respect to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) is not received by Landlord on or before the Completion Deadline shall be borne paid by Tenant without any right from another source of reimbursement from Landlordfunds. In no the event shall Landlord be obligated to pay Tenant’s Moving Costs are less than the Moving Allowance, the unused portion of the Moving Allowance shall not be paid or refunded to Tenant or available to Tenant as a credit against any portion thereof beyond of Tenant’s obligations under the amount of funds available, if any, in the Construction AllowanceLease.
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Moving Allowance. Provided that the Initial Improvements have been substantially completed in accordance with this Tenant Improvements Agreement and Tenant has occupied the Premises and all Work has been paid for, and provided that no Event of Default shall then exist under this Lease, be entitled to the extent there remain excess funds available under the Construction Allowance, Landlord shall pay to Tenant, upon Tenant's written request, a moving an allowance (the "Moving Allowance") in an amount equal to $5.00 for each rentable square foot of the actual relocation costs incurred Premises to be utilized by Tenant in moving from Tenant's current location to the Building. The for "Moving Allowance shall be paid within thirty (30) days following the later of (i) the date upon which Tenant actually commences the conduct of its business in the PremisesCosts," as that term is defined, and (ii) the date on which all supporting invoices have been submitted to Landlord. All requests for the Moving Allowance must be supported by invoices and paid receipts or other evidence of relocation cost reasonably satisfactory to Landlord. As used herein, the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to fund the Moving Allowance shall terminate and be of no further force or effect with respect to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) is not received by Landlord on or before the Completion Deadline shall be borne by Tenant without any right of reimbursement from Landlordbelow. In no event shall Landlord be obligated to pay disburse any portion of the Moving Allowance for any purpose other than reimbursement for reasonable out-of-pocket costs and expenses actually incurred by Tenant in physically relocating and commencing its operations to the Premises, costs of the purchase and installation of communications and technology infrastructure for the Premises, and costs of acquisition and installation of furniture for the Premises (collectively, "Moving Costs"). Provided that the Lease Commencement Date has occurred and that Tenant has completed the relocation of Tenant's business to the Premises, Landlord shall disburse the Moving Allowance for Moving Costs within thirty (30) days following receipt by Landlord of invoices and such other documentation as Landlord may reasonably request with respect to the Moving Costs. Landlord shall only be obligated to disburse the Moving Allowance to the extent such costs are incurred by Tenant. In no event shall the Moving Allowance provided for herein be available to Tenant as a credit against Rent or other amounts owing to Landlord pursuant to the Lease or in any portion thereof beyond the amount of funds available, if anymanner other than as expressly provided herein. Further, in no event shall Landlord's disbursements hereunder exceed the Construction Moving Allowance. In the event that Tenant shall fail to utilize the Moving Allowance (or to submit documentation for payment as required hereunder) within one hundred twenty (120) days following the Lease Commencement Date, then such unused amounts shall revert to Landlord and Tenant shall have no further rights with respect thereto.
Appears in 1 contract
Sources: Office Lease
Moving Allowance. Provided that Subject to the Initial Improvements have been substantially completed terms of this ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ shall contribute toward Tenant's costs and expenses incurred in accordance connection with this Tenant Improvements Agreement relocating and Tenant has occupied moving into the Premises and all Work has been paid for, and provided that no Event (“Moving Costs”) a cash sum up to a maximum amount of Default shall then exist under this Lease, to $15,000 (the extent there remain excess funds available under “Moving Allowance”). Landlord's payment of the Construction Moving Allowance, Landlord shall pay to Tenantor such portion thereof as Tenant may be entitled to, upon Tenant's written request, a moving allowance (the "Moving Allowance") in an amount equal to the actual relocation costs incurred by Tenant in moving from Tenant's current location to the Building. The Moving Allowance shall be paid made within thirty (30) days after each and all of the following the later of conditions shall have been satisfied: (i) Tenant shall have delivered to Landlord paid receipts or other written evidence satisfactorily substantiating the date upon which Tenant actually commences actual amount of the conduct of its business in the Premises, Moving Costs incurred by Tenant; and (ii) Tenant shall not then be in material default of any of the date on which all supporting invoices have been submitted to Landlordprovisions of the Lease. All requests If the actual Moving Costs are less than the Moving Allowance, then Tenant shall not receive any credit whatsoever for the difference between the actual Moving Allowance must be supported by invoices and paid receipts or other evidence of relocation cost reasonably satisfactory to LandlordCosts the Moving Allowance. As used herein, If Tenant does not satisfy items (i) through (iii) above within four (4) months after the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contraryCommencement Date, Landlord's ’s obligation to fund pay all or any portion of the Moving Allowance shall terminate and be rendered null and void, and Tenant shall automatically be deemed to have waived any right or interest in and to any remaining portion of no the Moving Allowance WHEREFORE, Landlord and Tenant have respectively executed this Lease the day and year first above written. CIVF I-KY1M01-KY1M06 & KY1W01, LLC, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, Inc., a Delaware corporation a Delaware limited liability company By: DCT Industrial Value Fund I, L.P., a Delaware limited partnership, its Sole Member By: DCT Industrial Value Fund I, Inc. a Maryland corporation, its General Partner By: By: Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Name: Title: Vice President Title: Date: Date:
(a) Landlord agrees to furnish or perform, at Landlord’s sole cost and expense, those items of construction and those improvements (the “Tenant Improvements”) as specified below:
(i) Apply two (2) coats of flat white latex paint to warehouse walls (floor to ceiling, including insulation and exposed concrete wall)
(ii) Prep and paint all garage doors using DTM latex paint
(iii) Paint the interior of all metal doors and frames with industrial enamel and paint columns 10’ A.F.F. safety yellow/red
(iv) Make necessary HVAC repairs to the A/C units in the warehouse to provide in good working condition
(v) Remove the drywall from the northwest corner of the warehouse covering the corner glassed area and fix the water leaking through these windows from the outside
(b) If Tenant shall desire any changes in the Tenant Improvements, Tenant shall so advise Landlord in writing and Landlord shall determine whether such changes can be made in a reasonable and feasible manner. Any and all costs of reviewing any requested changes, and any and all costs of making any changes to the Tenant Improvements which Tenant may request and which Landlord may agree to shall be at Tenant’s sole cost and expense and shall be paid to Landlord upon demand and before execution of the change order.
(c) Landlord shall proceed with and complete the construction of the Tenant Improvements. As soon as such improvements have been Substantially Completed, Landlord shall notify Tenant in writing of the date that the Tenant Improvements were Substantially Completed. Such date, unless an earlier date is specified as the Commencement Date in this Lease or otherwise agreed to in writing between Landlord and Tenant, shall be the “Commencement Date,” unless the completion of such improvements was delayed due to any act or omission of, or delay caused by, Tenant including, without limitation, Tenant’s failure to approve plans, complete submittals or obtain permits within the time periods agreed to by the parties or as reasonably required by Landlord, in which case the Commencement Date shall be the date such improvements would have been completed but for the delays caused by Tenant. The Tenant Improvements shall be deemed substantially completed (“Substantially Completed”) when, in the reasonable opinion of the Landlord’s architect (whether an employee or agent of Landlord or a third party architect) (“Architect”), the Premises are substantially completed except for punch list items which do not prevent in any material way the use of the Premises for the purposes for which they were intended. In the event Tenant, its employees, agents, or contractors cause construction of such Tenant Improvements to be delayed, the date of Substantial Completion shall be deemed to be the date that, in the opinion of the Architect, Substantial Completion would have occurred if such delays had not taken place. Without limiting the foregoing, Tenant shall be solely responsible for delays caused by Tenant’s request for any changes in the plans, Tenant’s request for long lead items or Tenant’s interference with the construction of the Tenant Improvements (each of the foregoing, a “Tenant Delay”), and such Tenant Delays shall not cause a deferral of the Commencement Date beyond what it otherwise would have been. After the Commencement Date Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the Premises.
(d) The failure of Tenant to take possession of or to occupy the Premises shall not serve to relieve Tenant of obligations arising on the Commencement Date or delay the payment of Rent by Tenant. Subject to applicable ordinances and building codes governing Tenant’s right to occupy or perform in the Premises, Tenant shall be allowed to install its tenant improvements, machinery, equipment, fixtures, or other property on the Premises during the final stages of completion of construction provided that Tenant does not thereby interfere with the completion of construction or cause any labor dispute as a result of such installations, and provided further force that Tenant does hereby agree to indemnify, defend, and hold Landlord harmless from any loss or effect damage to such property, and all liability, loss, or damage arising from any injury to the Property, Building or the property of Landlord, its contractors, subcontractors, or materialmen, and any death or personal injury to any person or persons arising out of such installations, EVEN IF SUCH LOSS, DAMAGE, LIABILITY, DEATH, OR PERSONAL INJURY WAS CAUSED SOLELY OR IN PART BY LANDLORD’S NEGLIGENCE OR STRICT LIABILITY, BUT NOT TO THE EXTENT CAUSED BY THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF LANDLORD. Any such occupancy or performance in the Premises shall be in accordance with the provisions governing Alterations in the Lease, and shall be subject to Tenant providing to Landlord satisfactory evidence of insurance for personal injury and property damage related to such installations and satisfactory payment arrangements with respect to installations permitted hereunder. Delay in putting Tenant in possession of the Premises shall not serve to extend the term of this Lease or to make Landlord liable for any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) is not received by Landlord on or before the Completion Deadline shall be borne by Tenant without any right of reimbursement from Landlord. In no event shall Landlord be obligated to pay the Moving Allowance or any portion thereof beyond the amount of funds available, if any, in the Construction Allowancedamages arising therefrom.
Appears in 1 contract
Moving Allowance. Provided that Tenant is not in default under the Initial Improvements have been substantially completed in accordance with this Tenant Improvements Agreement Lease beyond any applicable notice and Tenant has occupied the Premises and all Work has been paid forcure periods, and provided that no Event of Default shall then exist under this Lease, Landlord agrees to contribute up to the extent there remain excess funds available under the Construction Allowance, Landlord shall pay to Tenant, upon Tenant's written request, a moving allowance sum of Fifty Thousand Three Hundred Four and No/100 Dollars ($50,304.00) (the "“Moving Allowance"”) in an amount equal toward the actual and direct out of pocket cost (but excluding any indirect or collateral costs, such as by way of example, the modification of business cards or letterhead) of Tenant’s move from its current facility to the actual relocation costs incurred by Tenant in moving from Tenant's current location Premises. The Moving Allowance may only be used for the stated purpose, subject to the BuildingSection IV below. The Moving Allowance shall be paid to Tenant or, at Landlord’s option, to the order of the contractor that performed that portion of the moving services within thirty (30) days following the later receipt by Landlord of (i1) receipted bills covering all labor and materials expended and used in such moving services; and (2) the date upon certification of Tenant, that the moving services for which Tenant actually commences the conduct disbursement of its business in the Premises, and (ii) the date on which all supporting invoices have been submitted to Landlord. All requests for the Moving Allowance must be supported by invoices and paid receipts or other evidence of relocation cost reasonably satisfactory to Landlordis being requested have been fully performed. As used herein, the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as The Moving Allowance shall be approved by Landlorddisbursed in the amount reflected on the receipted bills meeting the requirements above. Notwithstanding anything herein to the contrary, Landlord's obligation Landlord shall not be obligated to fund disburse any portion of the Moving Allowance during the continuance of an uncured default under the Lease, and Landlord’s obligation to disburse shall terminate only resume when and be of no further force or effect with respect to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) if such default is not received by Landlord on or before the Completion Deadline shall be borne by Tenant without any right of reimbursement from Landlordcured. In no event shall Landlord be obligated to pay the Moving Allowance be used for any purpose other than costs and expenses relating to moving services. In the event Tenant does not use the entire Moving Allowance within sixty (60) days following the Commencement Date, any unused amount shall accrue to the sole benefit of Landlord, it being understood that Tenant shall not be entitled to any credit, abatement or any portion thereof beyond the amount of funds availableother concession in connection therewith. Tenant shall be responsible for all applicable state sales or use taxes, if any, payable in connection with the Construction Moving Allowance.
Appears in 1 contract
Sources: Office Lease Agreement (Outdoor Channel Holdings Inc)
Moving Allowance. Provided Subject to the limitations set forth below, and provided Tenant has not committed a default as defined in Section 13 of the Lease that the Initial Improvements have been substantially completed in accordance with this Tenant Improvements Agreement fails to cure during any applicable cure period and provided further that Tenant has occupied the Premises and all Work has been paid for, and provided that no Event of Default shall then exist under this Lease, to the extent there remain excess funds available under the Construction AllowancePremises, Landlord shall pay make available to Tenant, upon Tenant's written request, a moving Tenant an allowance of up to $72,368.00 (the "“Moving Allowance"”) to reimburse Tenant for the actual out-of-pocket costs it pays to unrelated third parties in an amount equal order to move furniture, equipment and other personal property to the actual relocation Premises, to install furniture systems in the Premises, to install telephone and data cabling in the Premises and to pay related costs incurred (collectively, “Moving Expenses”). If Tenant desires to use the Moving Allowance to reimburse itself for Moving Expenses, Tenant shall provide to Landlord bills, invoices and other information reasonably acceptable to Landlord to document monies paid by Tenant in moving from Tenant's current location for Moving Expenses, and Landlord shall reimburse Tenant for such amounts up to the Building. The Moving Allowance shall be paid within thirty (30) days following after receiving such information. Tenant shall only have the later right to make one request for the reimbursement of Moving Expenses (ithe “Reimbursement Request”) and the date upon Reimbursement Request shall include all Moving Expenses for which Tenant actually commences the conduct of its business requests reimbursement. Landlord shall have no obligation to reimburse Tenant for any Moving Expense that is not included in the Premises, and (ii) Reimbursement Request. If the date on which Reimbursement Request requests payment of less than all supporting invoices have been submitted to Landlord. All requests for of the Moving Allowance must be supported by invoices and paid receipts or other evidence of relocation cost reasonably satisfactory to Landlord. As used hereinAllowance, the term "relocation costs" shall mean sums paid for professional movers, printing unused portion of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to fund the Moving Allowance shall terminate be retained by Landlord, or may be used to pay Associated Costs (as defined in the Work Letter Agreement, and be subject to the requirements of no further force or effect with respect to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999the Work Letter Agreement). Any relocation costs for which a request for payment (and supporting invoices) If the Reimbursement Request is not received by Landlord on or before the Completion Deadline February 15, 2013, Landlord shall be borne by have no obligation to reimburse Tenant without for any right of reimbursement from Landlord. In no event Moving Expenses and Landlord shall Landlord be obligated to pay retain the Moving Allowance or any portion thereof beyond the amount of funds available, if any, in the Construction Allowance.
Appears in 1 contract
Moving Allowance. Provided that the Initial Improvements have been substantially completed Tenant is not in accordance with this Tenant Improvements Agreement and Tenant has occupied the Premises and all Work has been paid for, and provided that no Event of Default shall then exist under this Lease, to the extent there remain excess funds available under the Construction Allowance, Landlord shall pay provide Tenant with an allowance of up to Tenant$10.00 per rentable square foot (i.e., up to $245,790.00, based upon Tenant's written request, a moving allowance the Premises containing 24,579 rentable square feet) (the "Moving Allowance") towards reimbursement of Tenant's actual and reasonable out-of-pocket furniture, fixtures and equipment, IT/telecommunication costs, security systems, project management, design and moving and relocation costs (collectively "Moving Costs") or towards payment of any Over-Allowance Amount (as defined in an amount equal the Tenant Work Letter); provided, in no event will any Moving Allowance be used to pay for Tenant's artifacts, equipment, telephone systems or any other item of personal property, and further provided that Tenant submits to Landlord copies of contracts, lien releases, receipts and invoices (and to the actual relocation costs incurred extent requested by Tenant in moving from Landlord, other back-up documentation) evidencing such Moving Costs and Tenant's current location payment in full therefor (collectively, the "Cost Documentation"). Tenant shall submit to Landlord within six (6) months following the Building. The Lease Commencement Date (the "Moving Allowance shall be paid within thirty (30) days following the later of (i) the date upon which Tenant actually commences the conduct of its business in the PremisesDate"), and (ii) the date on which all supporting one or more invoices have been submitted to Landlord. All requests for the Moving Allowance must be supported Costs accompanied by invoices and paid receipts or other evidence the Cost Documentation and/or a request that Landlord apply any unused portion of relocation cost reasonably satisfactory to Landlord. As used herein, the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to fund the Moving Allowance shall terminate and be towards the payment of no further force or effect with respect any Over-Allowance Amount (the "Moving Allowance Disbursement Request"). If Tenant fails to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) is not received by Landlord on or before the Completion Deadline shall be borne by Tenant without any right of reimbursement from Landlord. In no event shall Landlord be obligated to pay submit the Moving Allowance or Disbursement Request to Landlord by the Moving Allowance Date, Tenant shall be deemed to have waived all right and interest in and to any portion thereof beyond the amount of funds available, if any, in the Construction Moving Allowance.
Appears in 1 contract
Moving Allowance. Provided that Tenant is not in default under the Initial Improvements have been substantially completed in accordance with this Tenant Improvements Agreement and Tenant has occupied the Premises and all Work has been paid for, and provided that no Event of Default shall then exist under this Lease, Tenant shall be entitled to the extent there remain excess funds available under the Construction Allowance, Landlord shall pay to Tenant, upon Tenant's written request, a moving allowance in the amount of up to $15,000.00 (the "“Moving Allowance"”) in an amount equal to toward the actual relocation costs incurred by Tenant in cost of moving from its existing location into the Premises, including, without limitation, the cost of telephone, data and computer cabling, consulting fees, reprinting stationery on hand, moving Tenant's current location to ’s furniture, equipment and other personal property into the BuildingPremises (“Moving and Relocation Costs”). The Any unused portion of the Moving Allowance shall accrue to the sole benefit of Landlord, it being understood and agreed that Tenant shall not be paid entitled to receive any credit or abatement in connection therewith. Landlord shall disburse the Moving Allowance, or applicable portion thereof, to Tenant within thirty forty-five (3045) days following after the later to occur of (i) the date upon which receipt of invoices from Tenant actually commences the conduct of its business in the Premiseswith respect to Tenant’s actual Moving and Relocation Costs, and (ii) the date on which all supporting invoices have been submitted to LandlordCommencement Date. All requests for the Moving Allowance must be supported by invoices and paid receipts or other evidence of relocation cost reasonably satisfactory to Landlord. As used hereinHowever, the term "relocation costs" shall mean sums paid for professional movers, printing of new stationery and business cards, cabling and phone installation costs, and such other reasonably related costs and expenses as shall be approved by Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to fund the Moving Allowance shall terminate and be of no further force or effect with respect to any written request for payment (and supporting invoices) not received by Landlord on or before December 31, 1999. Any relocation costs for which a request for payment (and supporting invoices) is not received by Landlord on or before the Completion Deadline shall be borne by Tenant without any right of reimbursement from Landlord. In in no event shall Landlord be obligated have any obligation to pay disburse any portion of the Moving Allowance after the date which is three (3) months after the Commencement Date. This Exhibit is attached to and made a part of the Lease by and between CA-GATEWAY OFFICE LIMITED PARTNERSHIP (“Landlord”) and AUDIOCODES, INC. (“Tenant”) for space in the Building located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇.
1. During the initial Term, Tenant agrees to lease from Landlord and Landlord agrees to lease to Tenant a total of 29 unreserved parking spaces and 0 reserved spaces (collectively, the “Spaces”), for the use of Tenant and its employees, in the parking facility owned by Landlord that serves the Building (the “Parking Facility”), and if the Parking Facility includes a garage, then such Spaces may be in, or on the roof of, such garage. No deductions or allowances shall be made for days when Tenant or any portion thereof beyond of its employees does not utilize the amount Parking Facility or for Tenant utilizing less than all of funds availablethe Spaces. Tenant shall not have the right to lease or otherwise use more than the number of reserved and unreserved Spaces set forth above.
2. During the initial Term, Tenant shall pay Landlord, as Additional Rent in accordance with Section 4 of the Lease, the sum of $0.00 per month, plus applicable tax thereon, if any, for each unreserved Space leased by Tenant hereunder, and the sum of $0.00 per month, plus applicable tax thereon, if any, for each reserved Space leased by Tenant hereunder, as such rates may be adjusted from time-to-time to reflect the then current rate for parking in the Construction AllowanceParking Facility.
3. Except for particular spaces and areas designated by Landlord or the Operator (as defined in paragraph 10, below) for reserved parking, all parking in the Parking Facility shall be on an unreserved, first-come, first-served basis.
Appears in 1 contract