TI Allowance and Excess TI Allowance Sample Clauses

TI Allowance and Excess TI Allowance. Landlord shall provide Tenant a “TI Allowance” of up to $45.00 per rentable square foot contained in the Premises, but not exceeding the actual cost of Tenant’s TI Costs, If Tenant’s TI Costs exceed the TI Allowance, then Landlord shall provide Tenant an additional “Excess TI Allowance” of up to $20.00 per rentable square foot contained in the Premises, but not exceeding the actual cost of Tenant’s TI Costs. The amount of the Excess TI Allowance required shall be finally determined following Substantial Completion of the Tenant Improvements. Upon such determination, the amount of Excess TI Allowance actually utilized shall be amortized over the initial 7-year Term of the Lease, with an interest rate of eight percent (8%) per annum, and the schedule of Base Rent shall be adjusted and increased accordingly. If as of the time of such calculation the initial 7-year Term of the Lease has already commenced, then Tenant shall immediately pay to Landlord any amortization payments allocable to the portion of the Term that has already passed as of the time of such calculation.