Tenant Work Allowance. For each Phase Premises, Landlord shall provide Tenant with an allowance for the costs (“Allowance Costs”) of constructing the Initial Tenant Work for Tenant’s initial occupancy (including, without limitation, the so-called soft costs of architectural and engineering fees and third-party project management fees with respect thereto, but specifically excluding any Bathroom Upgrade Costs and any Floor Demolition Costs), each in an amount not to exceed $75.00 per square foot of Rentable Floor Area of the applicable Phase Premises, provided that the allowance for the Fourth Phase Premises shall be prorated based upon the period from the Fourth Phase Premises Commencement Date through the Term Expiration Date, for an effective rate of $68.97 per square foot of Rentable Floor Area of the Fourth Phase Premises, as follows (individually, a “Construction Allowance”, and collectively, the “Construction Allowances”):
Appears in 2 contracts
Sources: Office Lease Agreement (Klaviyo, Inc.), Office Lease Agreement (Klaviyo, Inc.)