Unused Tenant Improvement Allowance Clause Samples
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Unused Tenant Improvement Allowance. In the event that the aggregate final cost of the design, permitting, supervision and construction of the Tenant Improvements, including any increase in such final costs due to any Change Orders or due to any other revisions, changes, or substitutions made to any of the Construction Documents or the Tenant Improvements at the request of Tenant (collectively, the “Total Construction Cost”), is less than the Tenant Improvement Allowance, then the balance of the Tenant Improvement Allowance (the “Unused Tenant Improvement Allowance”), may be applied by Tenant upon written notice to Landlord, (a) as a credit (the “Base Rent Credit”) against the payment of Base Rent as it becomes due and owing for the Substitute Premises (not to exceed the aggregate of $120,305.00), and (b) as an allowance (the “FF&E Allowance”) to reimburse Tenant for costs incurred by Tenant (not to exceed the aggregate of $119,580.00) in the purchase of furniture, fixtures and equipment used in the Substitute Premises (the “FF&E”). For the avoidance of doubt, the aggregate amount of the Unused Tenant Improvement Allowance that may be used by Tenant for the Base Rent Credit and FF&E Allowance is $240,610.00. The FF&E Allowance will be disbursed by Landlord in accordance with Landlord’s standard disbursement procedures, including, without limitation, following Landlord’s receipt of (i) evidence (i.e., invoices, contracts, or other documentation reasonably satisfactory to Landlord) of payment for the FF&E, (ii) if applicable, fully executed, unconditional lien releases from all contractors, subcontractors, laborers, materialmen, and suppliers used by Tenant in connection with the installation of the FF&E, and (iii) written notice from Tenant requesting such disbursement. In no event shall any of the terms set forth in this Section 3.3 be deemed to obligate Landlord to disburse any amount in excess of the amount of the Tenant Improvement Allowance.
Unused Tenant Improvement Allowance. Notwithstanding the provisions of Section 2.1.1 above to the contrary, with respect to each Construction Premises, if (a) the Tenant Improvements with respect to such Construction Premises have been completed and all Tenant Improvement Costs for such Construction Premises have been fully paid for, (b) the Tenant Improvement Costs for such Construction Premises exceed an amount equal to $20.00 per usable square foot of such Construction Premises, and (c) the Lease Commencement Date with respect to such Construction Premises has occurred, then after such events in clauses (a) through (c) hereinabove have occurred, Landlord shall apply an amount equal to fifty percent (50%) of the remaining balance of the TI Allowance Portion applicable to such Construction Premises as an offset against the Base Rent otherwise payable under the Lease for the Premises first coming due and payable after the occurrence of all such events.
Unused Tenant Improvement Allowance. Any portion of the Tenant ----------------------------------- Improvement Allowance which is not disbursed by Landlord pursuant to the terms of Section 2.3, above, for Tenant Improvement Allowance Items within three (3) months following the Lease Commencement Date shall, thereafter be credited against Base Rent becoming due for the 9th and 10th months of the Lease Term. EXHIBIT B SECTION 3 CONSTRUCTION DRAWINGS ---------------------
Unused Tenant Improvement Allowance. Following completion of the Tenant Improvements, upon notice from Tenant to Landlord (the “Election Notice”) delivered on or before the date (the “Outside Date”) that is one (1) year following the Lease Commencement Date, Tenant shall be entitled to utilize any unused portion of the Tenant Improvement Allowance (but in no event in excess of $7.50 per rentable square foot of the Premises of the Tenant Improvement Allowance) (the “Available Unused Allowance”) as a credit against the Base Rent due for the Premises. Any portion of the Tenant Improvement Allowance utilized by Tenant as a Base Rent credit as provided herein shall be applied to the next Base Rent due under this Lease. If Tenant fails to deliver an Election Notice with respect to any Available Unused Allowance or if any portion of the Tenant Improvement Allowance is otherwise not fully utilized under this Tenant Work Letter, in all events prior to the Outside Date, any such unused portions of the Tenant Improvement Allowance shall revert to and become the sole property of Landlord, and Tenant shall have no further rights thereto.
Unused Tenant Improvement Allowance. Any part of the TIA not utilized toward the construction of the Tenant Improvements may be applied to the following County items: data/cabling, fiber connectivity, and PBX/Gateway systems. Such costs must be invoiced to Landlord for reimbursement on or before the date (the “Transaction Cost Calculation Date”) which is nine (9) months after the Lease Commencement Date (absent invoice by such date, such unused amount shall be Landlord’s property). None of the unused TIA can be used towards Rent abatement or otherwise credited against any Rent payment.
Unused Tenant Improvement Allowance. No portion of any unused Tenant Improvement Allowance shall be credited toward the payments due from Tenant for Base Rent and Additional Rent, but shall be added to the Refurbishment Allowance.
Unused Tenant Improvement Allowance. If the Tenant Improvement costs are less than the Tenant Improvement Allowance, the portion of the unused Tenant Improvement Allowance shall be applied in twelve (12) equal credits toward the reduction of Lessee's rent payable during the twelve (12) month period beginning the Rent Commencement Date. Should any of the allowance for Lessee's Design Costs not be used, none of the unused portion shall be credited to Lessee.
Unused Tenant Improvement Allowance. Subject to the terms hereof, provided that Tenant is not in default of the Lease, as amended, beyond any applicable notice and cure periods, upon notice from Tenant to Landlord, Tenant shall be entitled to utilize up to $84,160.00 (i.e., $10.00 per rentable square foot of the New Premises) of any unused portion of the Tenant Improvement Allowance for (i) the purchase and installation of furniture, fixtures, and equipment in the New Premises, (ii) the installation of cabling in the New Premises, and (iii) moving costs incurred in connection with Tenant’s relocation from the Current Premises to the New Premises (the costs incurred under items (i) through (iii) above shall be referred to herein as the “Reimbursable Items”). In the event that Tenant desires to use any unused Tenant Improvement Allowance for the Reimbursable Items, then Tenant shall submit invoices to Landlord, marked as having been paid, and such other documentation as may be reasonably required by Landlord, and such expenses shall be reimbursed by Landlord to Tenant within forty-five (45) days after Landlord’s receipt of such invoices and documentation.
Unused Tenant Improvement Allowance. Tenant shall have the right, exercisable by written notice to Landlord, to elect to use any unused portion of the Tenant Improvement Allowance, if any, as a credit against future Installments of monthly Base Rent next coming due under the Lease, as amended. In the event that Tenant Improvement Allowance is not fully utilized by Tenant under this Section 7 (whether for Improvements or as a credit against Base Rent) on or before January 31, 2017, then such unused amounts shall be converted as a credit against future installments of monthly Base Rent next coming due under the Lease, as amended.
Unused Tenant Improvement Allowance. Except as otherwise expressly set forth in this Tenant Work Letter, Landlord shall have no obligation to pay any portion of the Tenant Improvement Allowance (not including the Final Retention) which has not been paid or requested or committed to be paid after the completion of construction of the Premises.