TI Rent Sample Clauses

TI Rent. Tenant shall continue to pay TI Rent as provided for under the Lease through the Termination Date; provided, however, that so long as Tenant delivers to Landlord (i) the Second Modification Payment on April 1, 2025, and (ii) the Third Modification Payment by January 2, 2026, as required by Section 8 below, commencing on the Effective Date through the Termination Date, Tenant shall not be required to TI Rent under the Lease.

TI Rent. All references to “TI Rent” and “Excess TI Costs” are hereby deleted from the Amended Lease, and Tenant shall have no obligation to reimburse Landlord for (a) any tenant improvements previously constructed by Landlord or (b) the Landlord Work to be performed pursuant to this Amendment. In connection with the foregoing, Section 4 of the Amended and Restated Second Amendment is hereby deleted in its entirety.

TI Rent. (a) The Tenant shall pay “TI Rent” in equal monthly installments commencing on the Rent Commencement Date and continuing on the first (1st) day of each month thereafter for the remainder of the Original Term to reimburse the Landlord for Net TI Costs incurred by the Landlord in constructing the agreed upon “Initial Tenant Improvements” to the Premises (see “Landlord’s Work” herein below). As of the Date of this Lease, the Landlord and the Tenant have agreed that the Maximum Net TI Costs will not exceed the amount of $25,000,000 (the “Maximum Net TI Costs”). As contemplated under Section 10.2(a) hereof, after completion and approval by Landlord and Tenant of the Final Tenant Improvement Plans and Specifications, Landlord will provide Tenant with a cost estimate of the Initial Tenant Improvements. To the extent that such total cost estimate exceeds the Maximum Net TI Costs (the “Excess TI Costs”) either (i) the Final Tenant Improvement Plans and Specifications will be revised to eliminate such Excess TI Costs, or (ii) Tenant will agree that the Maximum Net TI Costs will be increased by the amount of such Excess TI Costs. On or about the Rent Commencement Date, the actual TI Rent payable by Tenant shall be calculated based upon the final Net TI Costs (but in any event not to exceed the then effective “Maximum Net TI Costs”) and the applicable interest rate then payable by Landlord to finance such Net TI Costs. Such actual TI Rent shall be the monthly amount (level payment of principal and interest) required to fully amortize a loan in the amount of such Net TI Costs and bearing interest at such applicable interest rate over the Original Term (15 years). If, during the Original Term, such applicable interest rate changes, the TI Rent will be recalculated based upon the then outstanding principal balance of such Net TI Costs, the time remaining in the Original Term and the replacement applicable interest rate.

TI Rent. Any obligation of Tenant to reimburse Landlord for the costs of any tenant improvements payable to Landlord, whether characterized as TI Rent or otherwise, shall not be decreased by the modification of the Rentable Area of the Premises pursuant to this Amendment and the obligation to pay such amounts shall continue in full force and effect in the amounts originally set forth in the Lease.

TI Rent. The TI Rent for each Lease Year shall be due and payable in twelve (12) consecutive, equal monthly installments, in advance, on the first (1st) day of each calendar month during such Lease Year.

TI Rent. In consideration for the Basic Rent that LESSOR agrees to pay under the Lease for the Lease Term, LESSOR has agreed to provide LESSEE with an improvement allowance of $500,000.00 (“Allowance”) for improvements to the Premises to be made by LESSOR as set forth in Exhibit C attached hereto (the “Tenant Improvements”). In addition, LESSOR has agreed to make available to LESSEE an additional allowance of up to an additional $300,000 (subject to LESSEE having first contributed $400,000 of LESSEE’s funds toward the cost of the Tenant Improvements) for the Tenant Improvements (the “Additional Allowance”); provided, however, as consideration for LESSOR providing the Additional Allowance to LESSEE, LESSEE agrees to pay LESSOR, in addition to the Basic Rent, a monthly amount equal to the amount required to fully amortize the Additional Allowance, plus interest on Additional Allowance at the rate of seven percent (7%) per annum from the Commencement Date through the end of the initial Lease Term, such amortization to begin on first day of the sixth full calendar month after the Commencement Date through the end of the initial Lease Term (the “TI Rent”). Assuming LESSEE utilizes the entire $300,000 available as the Additional Allowance, and further assuming the Commencement Date is on the first day of a calendar month, then the monthly TI Rent commencing on the first day of the sixth full month of the Lease Term would be $3,566 per month. Lessor shall notify Lessee of Lessor’s calculation of monthly TI Rent (including a copy of the amortization schedule used to calculate such amount) prior to the Commencement Date. The Basic Rent, Additional Rent, TI Rent and all other amounts of whatever kind or character payable to LESSOR by LESSEE hereunder (all hereinafter included in the term “rent”) shall, except as otherwise provided herein, be paid without notice of demand and without abatement, counterclaim, deduction, setoff or defense, and any amounts due and owing hereunder by one party to the other and not paid when due shall bear interest at the rate of twelve percent (12%) per annum (or the highest legal rate provided by then controlling law if less than twelve percent (12%) from the due date until paid). Subject to the initial period of free Rent set forth on Addendum #1, the initial amount of rent is computed as follows (based on a Premises containing square feet): Annual Rate Annual Amount Monthly Amount Basic Rent( sq. ft.) Additional Rent (estimated for 2009): Comm...

TI Rent. In addition to the Tenant Improvement Allowance (as defined in the Work Letter attached to this Second Amendment as Exhibit C), 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) for the construction of the Tenant Improvements. Commencing on the first day of the month following the date on which any portion of the Additional Tenant Improvement Allowance is funded to Tenant (“Initial Payment Date”) and continuing thereafter on the first day of each month of the Base Term, Tenant shall pay to Landlord the amount necessary to fully amortize the amount of the Additional Tenant Improvement Allowance actually funded by Landlord, if any, in equal monthly payments with interest at a rate of 9% per annum over the remaining Base Term (“TI Rent”). If any portion of the Additional Tenant Improvement Allowance is funded to Tenant after the Initial Payment Date, the monthly amount of TI Rent payable by Tenant shall be adjusted in order to fully amortize such amounts funded after the Initial Funding Date in equal monthly payments with interest at a rate of 9% per annum over the remaining Base Term.

TI Rent