Common use of Additional Allowance Clause in Contracts

Additional Allowance. Tenant shall, by written notice given to Landlord no later than the Cost Proposal Delivery Date (as defined below), have the one-time right to increase the amount of the Tenant Improvements Allowance by an amount not to exceed $161,020.00 (i.e., $20.00 per rentable square foot of the Premises) (the “Additional Allowance”). The Additional Allowance, if elected by Tenant, shall be added to the Tenant Improvements Allowance and utilized on the terms and conditions set forth herein with respect to the Tenant Improvements Allowance (and the Maximum Allowance Amount shall be deemed to have been increased accordingly). If Tenant gives the Allowance Increase Notice, Tenant shall repay the Additional Allowance to Landlord in equal monthly installments determined by amortizing the Additional Allowance over the remainder of the initial term of the Lease, together with interest at eight percent (8%) per annum (such monthly payments, the “Supplemental Rent”), on the first calendar day of each month commencing on the Rent Commencement Date and continuing thereafter during the remainder of the initial term of the Lease with Tenant’s regular payments of Base Rent (and the parties shall enter into an amendment to the Lease to confirm the same promptly following the giving of the Additional Allowance Notice).

Appears in 2 contracts

Sources: Lease Agreement (Organovo Holdings, Inc.), Lease (Organovo Holdings, Inc.)

Additional Allowance. Tenant shall, by written notice given to Landlord no later than the Cost Proposal Delivery Date (as defined below), have the one-time right to increase the amount of the Tenant Improvements Allowance by an amount not to exceed $161,020.00 (i.e., $20.00 25.00 per rentable square foot of the Premises) Permanent Premises (the “Additional Allowance”). The Additional Allowance, if elected by Tenant, shall be added to the Tenant Improvements Allowance and utilized on the terms and conditions set forth herein with respect to the Tenant Improvements Allowance (and the Maximum Allowance Amount shall be deemed to have been increased accordingly). If Tenant gives the Allowance Increase Notice, Tenant shall repay the Additional Allowance to Landlord in equal monthly installments determined by amortizing the Additional Allowance over the remainder of the initial term of the Lease, together with interest at eight percent (8%) 9% per annum (such monthly payments, the “Supplemental Rent”), on the first calendar day of each month commencing on the Rent Commencement Date and continuing thereafter during the remainder of the initial term of the Lease with Tenant’s regular payments of Base Rent (and the parties shall enter into an amendment to the Lease to confirm the same promptly following the giving of the Additional Allowance Notice).

Appears in 2 contracts

Sources: Lease Agreement (Jounce Therapeutics, Inc.), Lease Agreement (Jounce Therapeutics, Inc.)

Additional Allowance. Tenant shall, by written notice given to Landlord (the “Allowance Increase Notice”) no later than the Cost Proposal Delivery Date (as defined below), have the one-time right to increase the amount of the Tenant Improvements Improvement Allowance by an amount not to exceed Seventy Nine Thousand, Six Hundred Fifty Dollars ($161,020.00 79,650.00) (i.e., $20.00 30.00 per rentable square foot of the Premises) (the “Additional Allowance”). The Additional Allowance, if elected by Tenant, shall be added to the Tenant Improvements Improvement Allowance and utilized used on the terms and conditions set forth herein with respect to the Tenant Improvements Improvement Allowance (and the Maximum Tenant Improvement Allowance Amount shall be deemed to have been increased accordingly). If Tenant gives the Allowance Increase Notice, Tenant shall repay the amount of the Additional Allowance used by Tenant to Landlord in equal monthly installments determined by amortizing the amount of the Additional Allowance used by Tenant over the remainder of the initial term of the LeaseLease (excluding any Abatement Period), together with interest at eight percent (8%) per annum (such monthly payments, the “Supplemental Base Rent”), on the first calendar day of each month commencing on the Rent Commencement Date and continuing thereafter during the remainder of the initial term of the Lease Term with Tenant’s regular payments of Base Rent (and the parties shall enter into an amendment to the Lease to confirm the same promptly following the giving of the Additional Allowance Notice).

Appears in 1 contract

Sources: Lease (Aethlon Medical Inc)