Additional TI 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 Tenant Improvement 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 (i) 50% of the first $10.00 per rentable square foot of the Additional Tenant Improvement Allowance disbursed by Landlord, if any, and (ii) 100% of any additional portion of the Additional Tenant Improvement Allowance actually disbursed 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 Additional Tenant Improvement Allowance or any portion(s) thereof (collectively, “TI Rent”). Notwithstanding the foregoing, Tenant may pay the outstanding and unamortized portion of the Additional Tenant Improvement Allowance that was actually funded by Landlord in full at any time without penalty. Any of the Additional Tenant Improvement Allowance and applicable interest payable by Tenant pursuant to this Section 4(b) (including, without limitation, the amounts set forth in subsection (i) above) 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.
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Sources: Lease Agreement (Vividion Therapeutics, Inc.), Lease Agreement (ONCOSEC MEDICAL Inc)
Additional TI 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 Tenant Improvement Allowance (as defined in the Work Letter)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 (i) 50% of the first $10.00 per rentable square foot of the Additional Tenant Improvement Allowance disbursed by Landlord, if any, and (ii) 100% of any additional portion of the Additional Tenant Improvement Allowance actually disbursed 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 Additional Tenant Improvement Allowance or any portion(s) thereof (collectively, “TI Rent”). Notwithstanding In the foregoingevent that the Additional TI Allowance is disbursed in tranches, Tenant may pay interest shall begin to accrue on the outstanding and unamortized amount of each tranche on the date that such tranche is disbursed. The TI Rent shall not be subject to the annual adjustments pursuant to Section 4(a) above. If any portion of the Additional Tenant Improvement Allowance that was actually is, subject to the terms of the Work Letter, funded by Landlord after the Rent Commencement Date, the monthly amount of TI Rent payable by Tenant shall be adjustment in order to fully amortize the amounts funded after the Rent Commencement Date in equal monthly payments with interest at a rate of % per annum over the remaining Base Term. Tenant shall have the right, any time after the month after the Rent Commencement Date, to prepay in full at any time the then outstanding and unamortized TI Rent, without penalty. Any of the Additional Tenant Improvement Allowance and applicable interest payable by Tenant pursuant to this Section 4(b) (including, without limitation, the amounts set forth in subsection (i) above) TI Rent 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.
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