Tenant Improvements Sample Clauses
The Tenant Improvements clause outlines the responsibilities and procedures for making alterations or enhancements to the leased premises by the tenant. Typically, it specifies what types of improvements are permitted, who is responsible for the costs, and whether landlord approval is required before work begins. For example, it may address the installation of new fixtures, partition walls, or specialized equipment. The core function of this clause is to ensure both parties understand their rights and obligations regarding modifications to the property, thereby preventing disputes and maintaining the property's value.
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Tenant Improvements. (a) On or before February 15, 2003, Tenant shall prepare or cause to be prepared and delivered to Landlord detailed final plans and specifications showing all improvements and alterations which Tenant desires to make to the Premises. Landlord shall approve or disapprove said plans and specifications within fifteen (15) business days of the receipt thereof, stating the reason for any disapproval in writing. If Tenant has not received comment within said fifteen (15) day period from Landlord in writing, Landlord’s approval shall be deemed granted. Once approved by Landlord and Tenant, the aforesaid final plans and specifications shall be deemed to be “Tenant Plans”.
(b) So long as Tenant is not in default hereunder, Landlord agrees to pay to Tenant’s contractor as designated in writing by tenant (“Contractor”) an allowance of twenty seven dollars ($27) per square foot of usable Square Feet or two hundred five thousand and two hundred Dollars ($205,200.00) (“Allowance”) to be applied to the costs and expenses incurred in connection with the completion of the Tenant Plans. Tenant shall submit Contractor’s bills to Landlord at the completion of every calendar month and Landlord shall make payments of the Allowance to Contractor within ten (10) days thereafter. .
(c) Tenant shall submit said Tenant Plans to the City of ▇▇▇▇▇ within ten (10) days after Landlord’s approval, and shall use all reasonable efforts to obtain all necessary permits from the City of ▇▇▇▇▇. Tenant shall cause the tenant improvement work in the Premises to be completed promptly after the issuance of a permit of Tenant Improvements at Tenant’s expense in accordance with Tenant’s Plans. The Lease will commence upon the earlier of the completion of tenant improvements or June 17, 2003 subject only to delays caused by events of force majeure. In the performance of such work, Tenant shall be governed by Article 12 of the Lease, and all work shall be performed in compliance with all governmental building codes in an acceptable workmanlike manner.
Tenant Improvements a. Tenant accepts the Premises in its "AS IS, WHERE IS" condition, "WITH ALL FAULTS" and without any warranties or representations whatsoever, and Landlord shall have no obligation to perform any work with respect to the Premises, or to provide any allowances with respect thereto, except as otherwise hereinafter expressly provided in this Paragraph 4. Any additions, alterations, improvements or refurbishment to the Premises, such as cabinets, built-ins, telecommunications equipment and related wiring, painting, carpeting and floor covering installed in the Premises and the installation of Tenant's Building standard suite signage (collectively "Tenant Improvements"), shall be performed subject to and in accordance with the provisions of this Paragraph 4 and Exhibit B-3, attached hereto and incorporated herein by this reference. Tenant acknowledges that the Premises were previously improved for occupancy, and all improvements existing on October 1, 2008 shall be left in place by Landlord and shall be available for reuse or shall be demolished by Tenant as part of the total cost of the Tenant Improvements to the Premises for which Tenant is responsible under the Lease and this Third Amendment. Landlord shall provide an allowance (the "Allowance") to Tenant for the purpose of paying a portion of the Tenant Improvement Costs (as defined in Exhibit B-3) respecting the Premises in the amount of One Million One Hundred Fifty-Nine Thousand Eight Hundred Twenty and No/100 Dollars ($1,159,820.00) in total. Landlord agrees to contribute the Allowance toward the Tenant Improvement Costs (as defined in Exhibit B-3) and Tenant's Work in accordance with the provisions of Section 5.01 of said Exhibit B-3 (the Tenant Improvement Costs shall include, without limitation, the space designer, architect, engineer, interior design and other professionals and design specialists fees incurred by Landlord or Tenant in connection with the Tenant Improvements, any project-management related expenses, and Landlord's construction supervision fee). If the entire Allowance is not exhausted in constructing the Tenant Improvements on or before September 30, 2010, then the unused and remaining portion not to exceed Three Hundred Forty-Seven Thousand Nine Hundred Forty-Six and No/100 Dollars ($347,946.00) may be used by Tenant as a credit against Monthly Rental next coming due and payable under the Lease, as amended hereby, after completion of the Tenant Improvements; provided, however, that ...
Tenant Improvements. Tenant shall obtain Landlord's written consent prior to performing any alteration, addition or improvement on or to the Premises; provided, however, that Landlord's consent shall not be required where the contemplated work (i) does not include any alteration of the structural components of the Premises, and (ii) will not cost more than Two Hundred Fifty Thousand Dollars ($250,000.00) to complete. In the event Landlord's consent is required, such consent shall not be unreasonably withheld, conditioned or delayed. In all events, Tenant shall provide to Landlord a written description of any alterations (other than alterations involving expenditure of less than $10,000). All alterations, additions and improvements shall be constructed in a good and workmanlike manner by licensed contractors and in compliance with all applicable laws, regulations, CC&R's, zoning ordinances and building codes. Except as provided immediately below, all alterations, additions and improvements constructed in or on the Premises by Tenant shall remain on the Premises without compensation of any kind to Tenant upon expiration of the Term. Tenant shall not be required to remove any of the alterations, additions or improvements made to the Premises during the Term except only those alterations, additions or improvements requiring Landlord's consent, to the extent Landlord conditioned its consent upon removal of the subject alteration, addition or improvement by Tenant at the expiration of the Term. With respect to such alterations, additions or improvements only, Tenant upon the written request of Landlord, shall upon the expiration of the Term, remove such alteration, addition or improvement at its cost and restore the Premises to its condition prior to such alteration, addition or improvement. Tenant shall maintain insurance as required by Section 11.2 covering any improvements, alterations or additions to the Premises made by Tenant under the provisions of this Section 8.1, it being understood and agreed that none of such improvements shall be insured by Landlord.
Tenant Improvements. A. At any time during the lease term, Tenant may equip the Building with fixtures and personal property necessary or appropriate, as determined in Tenant's reasonable discretion, for the operation of the Building for the uses allowed under this Lease, all to be selected by Tenant in its reasonable discretion and all as specified in the plans and specifications to be delivered to Landlord from time to time ("Tenant's Work"). Tenant's Work shall be performed in a good and workmanlike manner and in compliance with all applicable laws.
B. Upon completion of Tenant's Work, Tenant shall apply for, diligently pursue, obtain and deliver to Landlord a conditional or unconditional certificate of occupancy, or any other permits or approvals as may be required by applicable laws for occupancy of the Premises for the purposes contemplated in this Lease. Tenant shall take any corrective action, as required by inspection reports by the applicable governmental authority, reasonably necessary to obtain such certificates, permits or approvals, to the extent the failure to obtain such certificates, permits or approvals is attributable to any failure by Tenant to meet its construction obligations under this Lease. If Tenant is unable to obtain such certificates, permits or approvals due to any existing noncompliance of the Building or its appurtenances with any present laws, rules or regulations, which noncompliance does not relate to installations made by Tenant, then Tenant's obligation to pay rent hereunder shall be postponed, notwithstanding any other provision of this Lease to the contrary, until 10 days after such certificates, permits
C. Tenant, in its discretion, may, at its sole expense, as part of Tenant's Work, erect interior and exterior signs. Tenant shall be entitled to construct the maximum signage permitted under local sign ordinances and other applicable governmental regulations. All sign construction shall be in accordance with such local sign ordinances and applicable governmental regulation. Tenant shall obtain, and Landlord shall cooperate with Tenant's applications therefor, any and all permits as are required under such governmental regulations.
Tenant Improvements. As used in the Lease and this Work Letter Agreement, the term "Tenant Improvements" or "Tenant Improvement Work" means those items of general tenant improvement construction shown on the Final Plans (described in Paragraph 4 below), more particularly described in Paragraph 5 below.
Tenant Improvements a. On or before the Possession Date, Landlord shall, at Landlord's sole cost and expense, complete the items set forth on Schedule 1-A attached hereto ("Landlord's Work"). With respect to item 5 on Schedule 1-A, Tenant shall be responsible for coordinating the installation of the fiber with Verizon. Landlord shall reimburse Tenant for the cost charged by Verizon in connection with such installation, such reimbursement to be made within thirty (30) days of receipt of an invoice from Verizon detailing the work done. Landlord shall use commercially reasonable efforts to substantially complete Landlord's Work on or before the date set forth in Section 1.7 ("Landlord's Work Completion Date"). If Landlord fails to deliver the Premises to Tenant with Landlord's Work substantially completed on or before Landlord's Work Completion Date, then, provided Tenant has obtained a building permit to begin construction of the Improvements, Tenant shall be entitled to one (1) day of Base Rent abatement (from and after December 31, 2004) for each day after Landlord's Work Completion Date, until such time as Landlord delivers the Premises to Tenant with Landlord's Work substantially completed.
b. Tenant shall construct improvements ("Improvements") for the Premises in accordance with the Work Letter Agreement attached hereto as Schedule 1-B (the "Work Letter Agreement"). In connection thereto, Landlord hereby grants to Tenant an "Improvement Allowance" of Fifty-Two and 75/100 Dollars ($52.75) per square foot of space in the Premises (i.e., 84,122 square feet multiplied by $52.75 = $4,437,435.50) (the "Improvement Allowance"), which Improvement Allowance shall be used only for the items specified in the Cost Breakdown, as that term is defined in the Work Letter Agreement.
c. VRS/TA Associates LLC by its signature to this Lease hereby agrees to guaranty payment of the Improvement Allowance when, if and as it becomes due in accordance with the terms of the Lease, including the Work Letter Agreement.
d. The Improvement Allowance is for the construction on behalf of Landlord, of the Improvements, which Improvements are being made for the purpose of constructing/improving the Premises for use in Tenant's business. Except as specifically provided in this Paragraph, upon completion, the Improvements, together with any replacements thereof, shall become the property of Landlord subject to use of same by Tenant during the Term of this Lease, in accordance with the terms and conditions o...
Tenant Improvements. Landlord will not carry insurance of any kind on any improvements paid for by Tenant as provided in Exhibit C or on Tenant's furniture, furnishings, fixtures, equipment or appurtenances of Tenant under this Lease and Landlord shall not be obligated to repair any damage thereto or replace the same.
Tenant Improvements. The improvements to or within the Building shown on the Approved TI Plans from time to time and to be constructed by Landlord pursuant to the Lease and this Tenant Work Letter. The term “Tenant Improvements” does not include the improvements existing in the Building and Premises at the date of execution of the Lease.
Tenant Improvements. 5.1. Tenant shall cause appropriate improvements consistent with the Permitted Use (the "Tenant Improvements") to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit E (the "Work Letter") at a cost to Landlord not to exceed Fifteen Million Dollars ($15,000,000.00) (the "TI Allowance"). The TI Allowance may be applied to the costs of (a) construction, (b) project review by Landlord (which fee shall equal [***] percent ([***]%) of the cost of the Tenant Improvements, including the TI Allowance), (c) commissioning of mechanical, electrical and plumbing systems by a licensed, qualified commissioning agent hired by Tenant, and review of such party's commissioning report by a licensed, qualified commissioning agent hired by Landlord, (d) space planning, architect, engineering and other related services performed by third parties unaffiliated with Tenant, (e) building permits and other taxes, fees, charges and levies by governmental authorities for permits or for inspections of the Tenant Improvements, and (f) costs and expenses for labor, material, equipment and fixtures. In no event shall the TI Allowance be used for (m) the cost of work that is not authorized by the Approved Plans (as defined in the Work Letter) or otherwise approved in writing by Landlord, (n) payments to Tenant or any affiliates of Tenant, (o) the purchase of any furniture, personal property or other non-building system equipment, (p) costs resulting from any default by Tenant of its obligations under this Lease or (q) costs that are recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors).
5.2. Tenant shall have until June 30, 2037 to request disbursement for the final installment of the TI Allowance, and may request no more than fifteen (15) disbursements of the TI Allowance, with each disbursement (other than the final disbursement) being no less than [***] Dollars ($[***]). Landlord's obligation to disburse any of the TI Allowance shall be conditional upon Tenant's satisfaction of the conditions precedent to funding of the TI Allowance set forth in Section 6.3 of the Work Letter. In addition, Landlord’s obligation to disburse any of the TI Allowance in excess of Fourteen Million Five Hundred Thousand Dollars ($14,500,000.00) shall be conditioned upon the satisfaction of the following: (a) Tenant's delivery to Landlord of a certificate of occupancy for the Premises suitable for the Permitted Use, as applicable; (b) Tenant's de...
Tenant Improvements. Subject to the conditions set forth below, Landlord agrees to construct and install certain improvements (“Tenant Improvements”) in the Building of which the Premises are a part in accordance with the Final Drawings (defined below) and pursuant to the terms of this Exhibit B.