At least 2-½ hours before serving prepare the tenderloin by trimming off the excess fat.
Brush the beef with balsamic vinegar then olive oil and season with 2 Tablespoons of the dry rub.
Cover the tenderloin with plastic wrap and refrigerate for at least 2 hours (I like to let mine marinate overnight). Remove from the refrigerator 30 minutes before grilling to take the chill off the meat.
Preheat the grill to a high temperature for searing.
Sear the tenderloin for 4 minutes on each side.
Turn the grill down to medium. If you have 2 or more burners, leave one burner on medium-high and turn one off. Put the meat over the burner that is off, then close the lid and cook for 15 to 20 minutes for medium rare. Depending on the heat of your grill and the thickness of the roast, the time can vary. The best way to determine doneness is to use a thermometer. Medium rare beef is 135°F.
Let the tenderloin rest for at least 15 minutes under a foil tent before slicing. This will give the juices time to settle into the meat.