Common use of Tenant Improvements Allowance Clause in Contracts

Tenant Improvements Allowance. Landlord shall provide Tenant an allowance for the payment of Tenant Improvements Costs (the “Tenant Improvements Allowance”) equal to $135.00 per square foot multiplied by the Leasable Square Footage of the Premises ($2,169,450.00). All Tenant Improvements Costs in excess of the Tenant Improvements Allowance shall be paid for by Tenant. If Tenant requests within seven days after the date of this Lease, the Tenant Improvements Allowance shall be increased by up to $15.00 per square foot multiplied by the Leasable Square Footage of the Premises (up to $241,050.00); provided, however, that the aggregate amount of any such increase in the Tenant Improvements Allowance (the “Excess Tenant Improvements Allowance”) shall be repaid by Tenant to Landlord by increasing the monthly installments of Base Rent by an amount which would fully amortize the Excess Tenant Improvements Allowance, with interest at the rate of twelve and one-half percent (12.5%) per annum (including capitalized interest on the Excess Tenant Improvements Allowance from disbursement until commencement of amortization), in equal consecutive monthly installments of principal and interest over the Initial Term, commencing with the Rent Commencement Date.