Cost of Tenant Improvements definition

Cost of Tenant Improvements as used in this Lease shall mean all costs of completing the Tenant Improvements, including, without limitation: (i) constructing the work pursuant to the Plans, including, without limitation, the cost of all labor (whether performed by third parties or by Landlord’s own force), materials, subcontracts, insurance and other reimbursable expenses, and general conditions, (ii) preparing the Plans, and any other plans required to complete the work and pay for all engineering and architectural fees regarding the design and construction of the project, (iii) any fees in connection with obtaining the necessary permits for the construction of the Tenant Improvements and (iv) an additional sum equal to eight percent (8%) of the Cost of Tenant Improvements included in item (i) of this Section 3(a) as SJP Properties’ construction management fee. The parties acknowledge that the Landlord intends to accomplish the Tenant Improvements by using SJP Properties as the construction manager for the project. Without limitation of the foregoing, the Cost of Tenant Improvements shall not include any markups on construction costs that are paid to SJP Properties other than the eight percent construction management fee.
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Cost of Tenant Improvements means and include any and all hard and soft costs and expenses associated with the design, engineering, permitting, construction management, and construction of the Tenant Improvements, and including without limitation all labor (including overtime) and materials, and the cost of any and all third-party professionals, any signage and data/telco/wiring costs. Notwithstanding the foregoing, the TI Allowance (as defined below) may not be allocated by Tenant to the purchase of furniture, fixtures, or equipment. During the completion of any Tenant Improvements, Tenant shall be solely responsible for determining what measures, if any, should be taken in order to protect any of Tenant’s personnel and Tenant’s computers, equipment, furnishings, trade fixtures and other items of personal property for potential damage that may be caused by the performance of the Tenant Improvements. Tenant, for the safety of its employees, agents, and invitees, shall be responsible for ensuring that no Tenant party enters any area in which Tenant Improvements are being completed. Tenant, at its sole costs, is solely responsible for obtaining any and all necessary documents, permits, or other governmental approvals authorizing the completion of the Tenant Improvements. The Tenant Improvements are anticipated to be completed concurrently with the completion of Landlord’s Work (as such term is defined in Section 21.6), pursuant to the Change Order. Notwithstanding that the Tenant Improvements are being completed pursuant to such Change Order to Landlord’s existing contract with the General Contractor, the completion of the Tenant Improvements shall be supervised by and be completed at Tenant’s sole direction and Landlord shall have no liability for the completion of the Tenant Improvements, the Final Construction Drawings, or otherwise. Landlord’s only obligation with respect to the completion of the Tenant Improvements is for the disbursement of the TI Allowance in accordance with the terms and conditions set forth in this Section 21.
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Cost of Tenant Improvements shall have the meaning given such term in the Work Agreement.
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Examples of Cost of Tenant Improvements in a sentence

  • Landlord shall be responsible for the Cost of Tenant Improvements as defined in paragraph 3(a) up to $690,025.00 (representing $35.00 per rentable square foot of the Premises) (the “Construction Allowance”).

  • If the Cost of Tenant Improvements is less than the Tenant Improvement Allowance, Landlord shall retain such excess portion of the Tenant Improvement Allowance as its sole and separate property and Tenant shall have no rights or claims to it whatsoever, nor shall Tenant be entitled to any credit as a result of such excess.

  • Tenant shall have the right to verify by its own audit all of the charges comprising the Cost of Tenant Improvements and Landlord agrees to make available all of its books, records, and documents as are required for this purpose by Tenant.

  • Cost of Tenant Improvements (as hereinafter defined) in excess of the Construction Allowance shall be referred to as an “Additional Cost” and paid by Tenant in accordance with Paragraph 3(c).

  • Based on the executed subcontracts with such selected bidder, Landlord shall determine the Cost of Tenant Improvements, any Additional Cost, and the ratio of the Additional Cost to the Cost of Tenant Improvements (the “Additional Cost Fraction”), and shall submit the same to Tenant.

  • Without limitation of the foregoing, the Cost of Tenant Improvements shall not include any markups on construction costs that are paid to SJP Properties other than the eight percent construction management fee.

  • If Tenant fails to give written notice of termination of this Lease within said ten (10) business day period, Tenant shall be deemed to have agreed to pay the costs associated with such Government Change Order (up to the maximum amount stated in the Government Change Order) and such costs shall be included in the Total Cost of Tenant Improvements as provided in Paragraph 4(b) of this Exhibit C.

  • Subject to the conditions herein, Landlord agrees to provide to Tenant an allowance with respect to the Cost of Tenant Improvements in the total amount not to exceed Two Million Two Hundred Ninety-Five Thousand Four Hundred Eighty and 00/100 Dollars ($2,295,480.00) (the “TI Allowance”).

  • For purposes of this subsection (c), the term “Excess Amount of Landlord-Funded TI” shall mean the difference between (i) the Cost of Tenant Improvements or the Maximum Allowance, whichever is less, and (ii) the Threshold Amount.

  • Landlord shall be responsible for the Cost of Tenant Improvements as defined in paragraph 3(a) up to Seven Hundred Fifty Nine Thousand Dollars ($759,000) (representing $23.00 per rentable square foot of the Premises) (the “Construction Allowance”).


More Definitions of Cost of Tenant Improvements

Cost of Tenant Improvements as used in this Lease shall mean all costs of completing the Tenant Improvements, including, without limitation: (i) constructing the work pursuant to the Plans, including, without limitation, subcontracts, materials, labor (whether performed by Landlord’s own forces or by third-parties), improvements, general conditions, (ii) preparing the Plans, and any other plans required to complete the work, including all engineering and architectural fees, (iii) any fees in connection with obtaining the necessary permits for the construction of the Tenant Improvements and (iv) an additional sum equal to twelve percent (12%) of the Cost of Tenant Improvements included in items (i) and (iii), but not (ii), of this Section 3(a) to compensate Landlord for its overhead expense and supervision and for general conditions.
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Cost of Tenant Improvements means the entire cost of the design and construction of the Tenant Improvements including, without limitation, all fees and costs of the Designer, Engineer, Contractor (as defined below) and any other consultants and all permit fees and other governmental costs and fees; provided, however, that the cost of Tenant Improvements shall not include any fees payable to Master Landlord if Master Landlord is acting as Contractor, project coordinator or in any other similar capacity with respect to the Tenant Improvements, except that the foregoing shall not apply to fees payable to Regis Contractors or its successor entity.
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Related to Cost of Tenant Improvements

  • Tenant Improvements Defined in Exhibit B, if any.

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Tenant’s Work means and refer to the construction and installation of all aspects of the Project as set forth in detail in the Development Agreement, including the Improvements, and all other equipment, fixtures, pipes, wiring, mechanical systems and other property and systems necessary to the operation of the Project. All of Tenant's work shall be done in the manner required by the Development Agreement and shall be completely lien-free (except as provided in Sections 11.1 and 11.2 hereof, and except as otherwise permitted by the Development Agreement and the ESA). Tenant shall use commercially reasonable efforts to obtain warranties for Tenant's Work from its contractors and to enforce such warranties so that defects in Tenant's Work are corrected. If any warranties are not assignable to Landlord, Tenant shall nevertheless use reasonable diligence to keep such warranties in effect and to enforce the same. Tenant further agrees that if it determines that any portion of the Tenant's Work contains a material defect, it shall promptly notify Landlord of such defect and of the action which Tenant proposes to take or requires its contractors to take to remedy the same, provided that Tenant shall not take any action that may prejudice Landlord's ability to assert its warranty rights (if any) without Landlord's prior written consent. Without limiting the foregoing, Tenant reserves the right to install its own security system on the Project Site and Landlord, notwithstanding any other provision of this Lease to the contrary, understands and agrees that Tenant shall have the right to limit or restrict Landlord's access to the Project Site for reasonable safety and security purposes, but subject to Landlord's rights under Section 14.1 below and as provided for in the ESA and the Development Agreement. Subject to the rights of Tenant under Sections 11.1 and 11.2 hereof, and except as permitted by the Development Agreement and the ESA, all of Tenant's Work shall be completed lien-free and in accordance with all Applicable Law. At Landlord's election, all Tenant's Work shall be coordinated with Landlord's construction manager (who shall not unreasonably interfere with the rendition of Tenant's Work).

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.

  • Building Work has the meaning given to it in section 6 of the Building and Construction Industry (Improving Productivity) Act 2016 (Cth);