Common use of Excess Tl Costs Clause in Contracts

Excess Tl Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receive. If at any time the remaining Tl Costs under the then-current Budget exceed the remaining unexpended Tl Allowance and Additional Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as “Excess Tl Costs”), each party’s obligations for payment shall be as set forth in this Section 5(e) and in Section 5(f). The Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receive. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected to receive, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated Tl Costs. After the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period set forth in Section 5(f) below for Tenant’s Proportionate Share of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount of the Tl Allowance.

Excess Tl Costs. It is understood and agreed that Landlord shall have is under no obligation to bear any portion of the cost of any of the Tenant Lab Space Improvements except to the extent of the Aggregate Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. If at any time and from time-to-time, the remaining Tl Costs under the then-current Budget exceed the remaining unexpended Aggregate Tl Allowance, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to fund the Aggregate Tl Allowance, 100% of the then current Tl Cost in excess of the remaining Aggregate Tl Allowance and Additional Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as “Excess Tl Costs”). If Tenant fails to deposit, each party’s obligations for payment or is late in depositing, any Excess Tl Costs amount with Landlord, Landlord shall be as have all of the rights and remedies set forth in this Section 5(e) the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and in Section 5(fthe right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same will be considered Rent. The Such deposit of Excess Tl Costs, together with the remaining Aggregate Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are is herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that ”. Funds so deposited by Tenant has elected to receive. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected first thereafter disbursed to receive, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated pay Tl Costs. After Notwithstanding anything to the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period contrary set forth in this Section 5(f) below 6(d), Tenant shall be fully and solely liable for Tenant’s Proportionate Share Tl Costs and the cost of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount Minor Variations in excess of the Aggregate Tl Allowance. If upon Substantial Completion of the Lab Space Improvements and the payment of all sums due in connection therewith there remains any undisbursed Tl Fund, Tenant shall be entitled to such undisbursed Tl Fund solely to the extent of any Excess Tl Costs deposit Tenant has actually made with Landlord.

Excess Tl Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. If at any time the remaining Tl Costs under the then-current then -current Budget exceed the remaining unexpended Tl Allowance and Additional Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as “Excess Tl Costs”), each party’s obligations for payment shall be as set forth in this Section 5(e) and in Section 5(f). The Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected to receiveAllowance, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-then- current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated Tl Costs. After the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period set forth in Section 5(f) below for Tenant’s Proportionate Share of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount of the Tl Allowance.

Excess Tl Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. If at any time the remaining Tl Costs under the then-current Budget exceed the remaining unexpended Tl Allowance and Additional Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as “Excess Tl Costs”), each party’s obligations for payment shall be as set forth in this Section 5(e) and in Section 5(f). The Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected to receiveAllowance, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-then- current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated Tl Costs. After the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period set forth in Section 5(f) below for Tenant’s Proportionate Share of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount of the Tl Allowance.

Excess Tl Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. If at any time the remaining Tl Costs under the then-current Budget exceed the remaining unexpended Tl Allowance and Additional Allowance, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to complete the Tenant Improvements, 100% of the then current Tl Cost in excess of the remaining Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as “Excess Tl Costs”). If Tenant fails to deposit any Excess Tl Costs with Landlord, each party’s obligations for payment Landlord shall be as have all of the rights and remedies set forth in this Section 5(e) the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and in Section 5(fthe right to assess a late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. The Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that Funds deposited by Tenant has elected to receive. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected first disbursed to receive, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated pay Tl Costs. After Notwithstanding anything to the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period contrary set forth in this Section 5(f) below 5(d), Tenant shall be fully and solely liable for Tenant’s Proportionate Share Tl Costs and the cost of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount Minor Variations in excess of the Tl Allowance. If upon completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed portion of the Tl Fund, Tenant shall be entitled to such undisbursed Tl Fund solely to the extent of any Excess Tl Costs deposit Tenant has actually made with Landlord.

Excess Tl Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. If at any time the remaining Tl Costs under the then-current Budget exceed the remaining unexpended Tl Allowance and Additional Allowance, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to complete the Tenant Improvements, 100% of the then current Tl Cost in excess of the remaining Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as “Excess Tl Costs”). If Tenant fails to deposit any Excess Tl Costs with Landlord within 10 days after demand from Landlord, each party’s obligations for payment Landlord shall be as have all of the rights and remedies set forth in this Section 5(e) the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and in Section 5(fthe right to assess a late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. The Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that Funds deposited by Tenant has elected to receive. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected first disbursed to receive, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated pay Tl Costs. After Notwithstanding anything to the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period contrary set forth in this Section 5(f) below 5(d), Tenant shall be fully and solely liable for Tenant’s Proportionate Share Tl Costs and the cost of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount Minor Variations in excess of the Tl Allowance. If upon Substantial Completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed portion of the Tl Fund, Tenant shall be entitled to such undisbursed Tl Fund solely to the extent of any Excess Tl Costs deposit Tenant has actually made with Landlord.

Excess Tl Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the Tl Allowance and the Additional Tl Allowance that Tenant has elected to receiveAllowance. If at any time the remaining Tl Costs under the then-current Budget exceed the remaining unexpended Tl Allowance and Additional Allowance, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to complete the Tenant Improvements, 50% of the then current Tl Cost in excess of the remaining Tl Allowance that Tenant has elected to receive (such excess sometimes referred to herein as ( “Excess Tl Costs”)) and the remaining 50% of the Excess Tl Costs upon Substantial Completion of the Tenant Improvements. If Tenant fails to deposit any Excess Tl Costs with Landlord, each party’s obligations for payment Landlord shall be as have all of the rights and remedies set forth in this Section 5(e) the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and in Section 5(fthe right to assess a late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. The Tl Allowance, the Additional Tl Allowance and Excess Tl Costs are herein referred to as the “Tl Fund.” As used in this Work Letter, “Landlord’s Portion” shall equal the Tl Allowance and the Additional Tl Allowance that Funds deposited by Tenant has elected to receive. For purposes of this Work Letter, “Landlord’s Proportionate Share” shall mean a fraction, the numerator of which shall be the Landlord’s Portion and the denominator of which shall be the then-current Budget. If at any time Tl Costs under the then-current Budget exceed the Tl Allowance and the portion of the Additional Tl Allowance that Tenant has elected first disbursed to receive, the difference shall be referred to herein as “Tenant’s Portion.” For purposes of this Work Letter, “Tenant’s Proportionate Share” shall mean a fraction, the numerator of which is Tenant’s Portion and the denominator of which is the then-current Budget. Upon notice to Tenant, Landlord may equitably adjust Landlord’s Proportionate Share and Tenant’s Proportionate Share from time to time based on changes in the anticipated pay Tl Costs. After Notwithstanding anything to the end of each calendar month, beginning with the month in which Landlord obtains the Budget: (i) Landlord shall determine the Tl Costs incurred for the prior calendar month (and if applicable, for the period prior to Lease execution) (collectively, the “Total Monthly Costs”), (ii) Tenant shall reimburse Landlord within the time period contrary set forth in this Section 5(f) below 5(d), Tenant shall be fully and solely liable for Tenant’s Proportionate Share Tl Costs and the cost of Total Monthly Costs, and (iii) Landlord shall pay Landlord’s Proportionate Share of Total Monthly Costs from the remaining amount Minor Variations in excess of the Tl Allowance. If upon completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed portion of the Tl Fund, Tenant shall be entitled to such undisbursed Tl Fund solely to the extent of any Excess Tl Costs deposit Tenant has actually made with Landlord.