Second Tier Additional Allowance Sample Clauses

Second Tier Additional Allowance. In addition to Landlord’s Contribution, the TI Allowance and the First Tier TI Allowance, Landlord shall make available a “Second Tier Additional Allowance” in the amount of $25.00 per rentable square foot of the Premises, which Second Tier Additional Allowance shall automatically be applied, firstly, toward any cost of Landlord’s Work over and above Landlord’s Contribution and the First Tier Additional Allowance, if any. If all or any portion of the Second Tier Additional Allowance remains undisbursed following the payment in full of all costs of Landlord Work in excess of Landlord’s Contribution and the First Tier Additional Allowance, such remaining Second Tier Additional Allowance shall, to the extent Tenant elects not to use its own funds to pay such amounts, be applied toward Excess TI Costs. For the avoidance of any doubt, (i) no portion of the Second Tier Additional Allowance shall be made available unless and until the full amount of the First Tier Additional Allowance has been exhausted, and (ii) Tenant is responsible for any and all Excess TI Costs remaining following the application, if applicable, of any portion of the First Tier Additional Allowance and/or any portion of the available Second Tier Additional Allowance. Commencing on the Rent 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 Second Tier Additional Allowance actually funded by Landlord, if any, in equal monthly payments with interest at a rate of 8% per annum over the Base Term, which interest shall begin to accrue on the date that Landlord first disburses such Second Tier Additional Allowance or any portion(s) thereof. Notwithstanding anything to the contrary contained herein, Tenant may, at Tenant’s sole election, accelerate or prepay all or any portion of the outstanding and unamortized portion of the Second Tier Additional Allowance that was actually funded by Landlord at any time without penalty, in which event the amortizing payments shall be appropriately adjusted. Any outstanding and unamortized portion of the Second Tier Additional Allowance and applicable interest remaining unpaid as of the expiration or earlier termination of this Lease shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease.