Lessor’s Allowance. Lessor shall contribute up to three million dollars ($3,000,000) towards construction of the Lessee Interior Improvements (the “TI Allowance”), which cost is included in the base rent, and Lessee shall pay in cash any amount above Lessor TI Allowance monthly on a prorated basis as the job proceeds. The TI Allowance will decrease base rent by $10.49 per $1,000 on 7 year lease if the entire $3,000,000 is not used. (Example: $200K Not Used X 10.49 = $2098 or $.087 per sq. ft. per month).
Appears in 2 contracts
Sources: Lease Agreement (Ariosa Diagnostics, Inc.), Lease Agreement (Ariosa Diagnostics, Inc.)