Currently, TI allowance has been utilized at 82.9% of total budget as opposed to 67% of leased space. This might cause budget overrun
However, the over-commitment of TI allowance can be offset by commission allowance as commission allowance is only 41% utilized
Midway indicates that TI allowance and commission allowance can be funded by Amegy loan bank. This is correct.
The schedule of draw down of TI and commission allowance was not provided by us to accurately reflect cash flow. However, we expect the impact to be minimum unless there is overbudget