Additional TI Allowance. In addition to the Tenant Improvement Allowance (as defined in the Work Letter), Landlord shall, subject to the terms of the Work Letter, make available to Tenant the Additional Tenant Improvements Allowance (as defined in the Work Letter) for the construction of the Tenant Improvements. Commencing on the later of (i) the Commencement Date and (ii) the first day of the month following the month in which any portion of the Additional Tenant Improvements Allowance has been disbursed, and continuing thereafter, as adjusted as additional disbursements of the Additional Tenant Improvement Allowance occur, on the first day of each month of the Base Term, Tenant shall pay to Landlord the amount necessary to fully amortize the amount of the Additional Tenant Improvements Allowance actually funded by Landlord, if any, in equal monthly payments with interest at a rate of 8% per annum over the Base Term (“TI Rent”).
Appears in 4 contracts
Samples: Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.)
