Additional Tl Allowance Clause Samples
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Additional Tl 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 Tl Allowance (as defined in the Work Letter). Commencing on the Commencement Date and continuing thereafter on the first day of each month during the Base Term, Tenant shall pay the amount necessary to fully amortize the portion of the Additional Tl Allowance actually funded by Landlord, if any, in equal monthly payments with annual interest at a rate of 7.5% per annum over the Base Term, which interest shall begin to accrue on the date that Landlord first disburses such Additional Tl Allowance or any portion(s) thereof (“Tl Rent”). Any of the Additional Tl Allowance and applicable interest remaining unpaid as of the expiration or earlier termination of the Lease shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease. Tenant, at Tenant’s option, may prepay the Tl Rent in full at any time without penalty.
Additional Tl Allowance. In addition to the Tl Allowance and the Additional Tl Allowance, Landlord shall, subject to the terms of the Work Letter, make available to Tenant a “Second Expansion Premises Tl Allowance” in the amount of $55.00 per rentable square foot of the Second Expansion Premises for the construction of Tenant Improvements in the Second Expansion Premises only pursuant to and in accordance with the terms of the Work Letter. For every $1.00 of the Second Expansion Premises Tl Allowance Tenant elects to use, Tenant shall pay Additional Rent under the Lease equal to $0.1585 per rentable square foot of the Second Expansion Premises per year. For example, if the entire Second Expansion Premises Tl Allowance was disbursed by Landlord, then Tenant would be required to pay Additional Rent in the amount of $8.72 per rentable square foot of the Second Expansion Premises per year, which Additional Rent shall be due on the first day of each month of the Base Term with respect to the Second Expansion Premises commencing on the first day of the month following the Second Expansion Premises Rent Commencement Date. Except for the Second Expansion Premises Tl Allowance, Tenant shall be solely responsible for all costs of the Tenant Improvements in the Second Expansion Premises. The Additional Rent payable pursuant to this Section 7 shall be increased on each Second Expansion Premises Adjustment Date by the Rent Adjustment Percentage. Tenant shall have no right to any portion of the Second Expansion Premises Tl Allowance that has not been requested for disbursement by Tenant in accordance with the terms of the Work Letter before May 31, 2018.
Additional Tl Allowance. Landlord shall make available for the payment of Excess Tl Costs an additional tenant allowance (the “Additional Tl Allowance”) of $[ *** ] per rentable square foot of the Premises, which shall, to the extent use, result in Tl Rent pursuant to Section 4(b) of the Lease. Tenant shall make its election regarding how much of the Additional Tl Allowance elects to receive pursuant to the schedule and terms set forth in Section 5(b) above with respect to the Tl Allowance.