Common use of Unused Allowance Clause in Contracts

Unused Allowance. If any portion of the Construction Allowance remains unexpended after the earlier of: (a) the payment of the Permitted Costs, and (b) 210 days following the Commencement Date, then the unexpended portion of the Construction Allowance shall become and remain the sole property of Landlord, and neither Tenant nor Tenant’s Contractors shall have any right or interest therein.

Appears in 2 contracts

Sources: Assignment of Lease, Assignment of Lease (Rackspace Inc)