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 the portion of the Additional Tenant Improvement 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 Additional Tenant Improvement Allowance or any portion(s) thereof (“TI Rent”). The TI Rent will not be subject to increase on any Adjustment Date. Any of the Additional Tenant Improvement Allowance and applicable interest remaining unpaid as of the expiration or earlier termination of the Lease (unless such termination is due to a Landlord default or otherwise caused by the act or omission of Landlord or any Landlord Party) shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease. Tenant may prepay the TI Rent in full at any time without penalty.
Appears in 2 contracts
Samples: Sublease (Gossamer Bio, Inc.), Sublease (Gossamer Bio, Inc.)
Additional TI Allowance. In addition to the Tenant Improvement Allowance (as defined in the Expansion Premises Work Letter), Landlord shall, subject to the terms of the Expansion Premises Work Letter, make available to Tenant the Additional Tenant Improvement TI Allowance (as defined in the Expansion Premises Work Letter). Commencing on the Expansion Premises Commencement Date and continuing thereafter on the first day of each month during through the Base TermExpansion Premises Expiration Date, Tenant shall pay the amount necessary to fully amortize the portion of the Additional Tenant Improvement TI Allowance (as defined in the Expansion Premises Work Letter) actually funded by Landlord, if any, in equal monthly payments with annual 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 TI Allowance (as defined in the Expansion Premises Work Letter) or any portion(s) thereof (“Expansion Premises TI Rent”). The TI Rent will not be subject to increase on any Adjustment Date. Any of the Additional Tenant Improvement TI Allowance (as defined in the Expansion Premises Work Letter) and applicable interest remaining unpaid as of the expiration Expansion Premises Expiration Date or earlier termination of the Lease (unless such termination is due to a Landlord default or otherwise caused by the act or omission of Landlord or any Landlord Party) shall be paid to Landlord in a lump sum at on the expiration Expansion Premises Expiration Date or earlier termination of this Lease. Tenant Tenant, at Tenant’s option, may prepay the Expansion Premises TI Rent in full at any time without penalty.
Appears in 2 contracts
Samples: Lease Agreement (Rubius Therapeutics, Inc.), Lease Agreement (Rubius Therapeutics, 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). 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 Additional Tenant Improvement 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 Additional Tenant Improvement Allowance or any portion(s) thereof (the “TI Rent”). The TI Rent will not be subject to increase on any Adjustment Date. Any of the Additional Tenant Improvement Allowance and applicable interest remaining unpaid as of the expiration of this Lease or the earlier termination of the this Lease (unless such termination is due to a Landlord default or otherwise caused by the act or omission of Landlord or any Landlord Party) Tenant Default shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease. Tenant may prepay the TI Rent in full at any time without penalty.
Appears in 2 contracts
Samples: Lease Agreement (NantKwest, Inc.), Lease Agreement (Conkwest, 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). 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 the portion of the Additional Tenant Improvement 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 Additional Tenant Improvement Allowance Net Laboratory 3013 Science Park/The Medicines Company - Page 27 or any portion(s) thereof (“TI Rent”). The TI Rent will not be subject to increase on any Adjustment Date. Any of the Additional Tenant Improvement Allowance and applicable interest remaining unpaid as of the expiration or earlier termination of the Lease (unless such termination is due to a Landlord default or otherwise caused by the act or omission of Landlord or any Landlord Party) shall be paid to Landlord in a lump sum at the expiration or earlier termination of this Lease. Tenant may prepay the TI Rent in full at any time without penalty.
Appears in 1 contract
Samples: Sublease