Additional Improvement Allowance. In addition to the Improvement Allowance, Tenant shall, only if so elected by Tenant in writing on or before the Lease Commencement Date, be entitled to a one-time additional allowance increase in an amount to be specified in such written notice and not to exceed Fifty-One Thousand Five Hundred Ten and 00/100 Dollars ($51,510.00) (i.e., Five and 00/100 Dollars ($5.00) per rentable square foot of the Premises) (the “Additional Improvement Allowance”) toward the payment of the costs of the Improvement Allowance Items. In the event Tenant timely exercises its right to use all or any portion of the Additional Improvement Allowance, the monthly Base Rent for the Premises shall be increased by an amount equal to the “Additional Monthly Base Rent,” as that term is defined below, in order to repay the Additional Improvement Allowance to Landlord. The “Additional Monthly Base Rent” shall be determined as the missing component of an annuity, which annuity shall have (i) the amount of the Additional Improvement Allowance utilized by Tenant as the present value amount, (ii) the number of full calendar months in the initial Lease Term as the number of payments, (iii) sixty-seven one-hundredths (0.67), which is equal to eight percent (8%) divided by twelve (12) months per year, as the monthly interest factor, and (iv) the Additional Monthly Base Rent as the missing component of the annuity. Once the Additional Monthly Base Rent has been determined in accordance with this Section 2.5, such Additional Monthly Base Rent amount shall be allocated as an increase to the monthly Base Rent amounts due and payable for the Premises, which allocation shall be determined by Landlord in its reasonable and equitable discretion. In the event Tenant uses any portion of the Additional Improvement Allowance, then all references in this Work Letter to the “Improvement Allowance,” shall be deemed to include the Additional Improvement Allowance utilized by Tenant. Landlord and Tenant hereby acknowledge and agree that in the event Tenant timely elects to utilize the Additional Improvement Allowance or a portion thereof, the Additional Monthly Base Rent shall not be subject to the rent abatement otherwise identified in Section 3.2 and 3.3 of this Lease, and, accordingly, Tenant shall be required to pay the monthly payment of Additional Monthly Base Rent during both the Full Base Rent Abatement Period and the Partial Base Rent Abatement Period.
Additional Improvement Allowance. In addition to the Tenant Improvement Allowance set forth in Section 2.1, above, Tenant shall be entitled to a one-time additional allowance, which may be requested periodically by Tenant for Tenant Improvements performed by Tenant from time to time prior to the second (2nd) anniversary of the full execution and delivery of this Lease, of up to $20.00 per RSF of the Premises (i.e., up to $838,320.00) (the “Additional Improvement Allowance”) to be used for the costs relating to the initial design and construction of the Tenant Improvements; provided, however, the Additional Improvement Allowance shall not be used for costs relating to moving or relocation expenses, data/cabling, Tenant Signage or any personal property,
Additional Improvement Allowance. If Tenant contends that a Landlord Caused Delay has occurred, Tenant shall notify Landlord in writing (the “Delay Notice”) of the event which constitutes such Landlord Caused Delay. If the actions or inactions or circumstances described in the Delay Notice qualify as a Landlord Caused Delay, and are not cured by Landlord within one (1) business day after Landlord’s receipt of the Delay Notice, the Lease Commencement Date shall be delayed for the period by which substantial completion of the Tenant Improvements is actually delayed as a result of such Landlord Delay. To: Re: Lease dated , 20 between , a (“Landlord”), and , a (“Tenant”) concerning Suite on floor(s) of the building located at , California. Gentlemen: In accordance with the Lease (the “Lease”), we wish to advise you and/or confirm as follows:
Additional Improvement Allowance. In addition to the Improvement Allowance set forth in Section 2.1.1, above, Tenant shall, only if so elected by Tenant in writing prior to the Lease Commencement Date, be entitled to a one-time additional allowance increase in an amount not to exceed $5.00 per usable square foot of the Premises (the “Additional Allowance”) to be used solely for hard costs in the construction of the Improvements. In the event Tenant exercises its right to use all or any portion of the Additional Allowance, the monthly Base Rent for the Premises for the initial Lease Term (as set forth in Article 2.1 of this Lease) shall be increased by an amount equal to the “Additional Monthly Base Rent,” as that term is defined below. The “Additional Monthly Base Rent” shall be determined as the missing component of an annuity, which annuity shall have (i) the amount of the Additional Allowance utilized by Tenant as the present value amount, (ii) eighty-four (84) as the number of payments, (iii) 0.833, which is equal to ten percent (10%) divided by twelve (12) months per year, as the monthly interest factor, and (iv) the Additional Monthly Base Rent as the missing component of the annuity. In the event Tenant uses any portion of the Additional Allowance, then all references in this Work Letter to the “Improvement Allowance,” shall be deemed to include the Additional Allowance utilized by Tenant.
Additional Improvement Allowance. Tenant may, by written notice to Landlord delivered prior to the Commencement Date, increase the Improvement Allowance by up to five dollars ($5.00) per rentable square foot of the Premises (the “Additional Improvement Allowance”). If Tenant uses all or part of the Additional Improvement Allowance, then Basic Monthly Rent for each month of the Term shall increase by $0.02125 per rentable square foot of the Premises for each additional one dollar ($1.00) of the Additional Improvement Allowance that Landlord disburses to or on behalf of Tenant, or otherwise disburses in connection with the Leasehold Improvements.
Additional Improvement Allowance. Provided that Tenant utilizes the full Initial Improvement Allowance for Permitted Expenditures, Landlord agrees to provide to Tenant, an additional allowance of up to [***] per square foot of Rentable Area in the Premises (the “Additional Improvement Allowance”). Tenant may elect to receive the Additional Improvement Allowance by providing Landlord with written notice on or before November 1, 2005. In the event that Tenant elects to receive the Additional Improvement Allowance or any portion thereof, Landlord shall make such Additional Improvement Allowance available to Tenant in the same manner and for the same purposes as set forth for the Improvement Allowance in Section 2.02 above; provided that no portion of the Additional Improvement Allowance may be used as an offset against Base Rent. On the Rent Commencement Date, the monthly Base Rent payable by Tenant shall be increased by an amount sufficient to amortize the amount of the Additional Improvement Allowance funded (or to be funded by Landlord pursuant to pending draw requests) in equal monthly installments assuming an interest rate equal to the Adjustment Rate over one hundred thirty-two (132) months. In such event, Landlord and Tenant shall execute a lease amendment confirming the new Base Rent.
Additional Improvement Allowance. Landlord shall make available to Tenant with an additional allowance of Twenty-Thousand Dollars ($20,000.00) to be used by Tenant for improvements to the Premises, in accordance with Article 9 of the Lease, prior to the expiration of the Lease Term. Upon Tenant's election to use any portion of such allowance, Tenant shall provide to Landlord documentation regarding the improvements made to the Premises, stating the itemized costs of such improvements. Landlord shall have a period of thirty (30) days from its receipt of Tenant's documentation to reimburse Tenant. Any unused portion of the Additional Improvement Allowance remaining at the end of the Lease Term shall be the property of the Landlord."
7. Section 5.1, paragraph 1 is hereby deleted in its entirety and the following is substituted in place thereof:
Section 5.1 Tenant shall pay to Landlord, on a per square foot basis, as Additional Rent, for each calendar year or fractional calendar year during the Term, the amount ("Tenant's Operating Costs Payment"), if any, that Tenant's Share of Operating Costs exceeds the Expense Stop. Tenant's Operating Costs Payment shall be calculated and paid as follows:"
Additional Improvement Allowance. Provided Tenant elects to remove and repair the stairway between the twenty-second and twenty-third floors of the Building (“Stairway Removal and Repair”) Landlord shall pay to Tenant the Twenty-second Floor Expansion Space Additional Improvement Allowance. Tenant shall provide Landlord with a contractor’s estimate of the cost of work to be performed on the Stairway Removal and Repair. Tenant shall request and draw the Twenty-second Floor Expansion Space Additional Improvement Allowance and Landlord shall pay such Allowance in the same manner as described in 2.11 above. In the event that Tenant’s expenditures for the Stairway Removal and Repair are less than the Twenty-second Floor Expansion Space Additional Improvement Allowance the remaining balance (after reimbursing Tenant for such expenditures) of the Twenty-second Floor Expansion Additional Space Improvement Allowance shall not be credited against Annual Rent next coming due under the Lease.
Additional Improvement Allowance. Pursuant to the terms of Section 3.3 of the Work Letter attached to the Lease, Tenant has the right to utilize the Additional Improvement Allowance in connection with Tenant’s performance of the Improvements. In connection with the foregoing, Tenant hereby elects to utilize the entirety of such Additional Improvement Allowance (i.e., with respect to each Phase), and therefore Tenant shall pay the Additional Monthly Base Rent for the entire Premises and the Base Rent for the entire Premises shall be increased by the applicable Additional Monthly Rent. The schedule below sets forth the Additional Monthly Rent for each Phase of the Premises: Phase of Premises Amount of Additional Monthly Rent In connection with the foregoing, in order to memorialize the amount of Additional Monthly Rent to be paid by Tenant throughout the Lease Term, the Base Rent schedule set forth on Schedule 1 attached to the Lease is hereby deleted in its entirety and replaced with the Base 4889-8391-7849.3377185.00018/U58er IniA/gjn/gjn [First Amendment][DermTech, Inc.] Rent schedule set forth on Schedule 1 attached to this First Amendment (which replacement Base Rent schedule includes the applicable amount of Additional Monthly Rent for each Phase of the Premises in addition to the Base Rent initially set forth in the Lease).
Additional Improvement Allowance. Landlord hereby agrees to provide to Tenant an additional improvement allowance (the "Additional Improvement Allowance") in the amount of Twenty-Five Thousand Two Hundred Thirty and Zero/100 Dollars ($25,230.00) solely to be applied to Construction Costs. The Additional Improvement Allowance shall be disbursed in accordance with the terms and conditions of the Original Lease regarding the disbursement of the Improvement Allowance, including without limitation Section 7.b of the First Amendment.
