Abatement of Monthly Base Rent Sample Clauses

Abatement of Monthly Base Rent. Notwithstanding anything in Section 3.1 above to the contrary and provided that Tenant is not then in default under this Lease (beyond any applicable notice and cure period), Tenant shall be entitled to an abatement of the Monthly Base Rent due under this Lease for the Premises in an amount equal to $427,219.25, in the aggregate (“Monthly Base Rent Abatement Amount”), which Monthly Base Rent Abatement Amount shall be applied in equal monthly installments to fifty percent (50%) of the Monthly Base Rent due under this Lease commencing as of the Commencement Date and ending when the Monthly Base Rent Abatement Amount has been exhausted (the “Base Rent Abatement Period”). Tenant acknowledges that the Monthly Base Rent Abatement Amount has been granted to Tenant as additional consideration for entering into this Lease and for agreeing to pay the Rent and perform the other terms and conditions required under this Lease. Accordingly, if this Lease terminates due to a Tenant default under this Lease, then Tenant shall be obligated to pay to Landlord (in addition to Landlord’s other remedies) the unamortized amount (amortized straight-line basis over the initial Lease Term) of the Monthly Base Rent Abatement Amount that was abated through the date of termination. For purposes of example, if this Lease is terminated due to a Tenant default after the end of the fortieth (40th) month of the Term, then Tenant would be obligated to repay (86-40)/86 of the entire Monthly Base Rent Abatement Amount. The rights contained in this Section 3.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any assignee, sublessee or transferee of the Original Tenant’s interest in this Lease) if the Original Tenant is in occupancy of the entire Premises.
Sample 1Sample 2
AutoNDA by SimpleDocs
Abatement of Monthly Base Rent. Notwithstanding any contrary provision set forth in Section 3.1, above, provided that Tenant is not then in default under the Lease (beyond all applicable notice and cure periods), as amended hereby, Tenant's Monthly Base Rent for that portion of the Premises consisting of Suite 100 only (i.e.,for 7,622 rentable square feet of space of the Premises only) shall be abated for the first three (3) months of the Extended Term, thereby reducing each installment of Monthly Base Rent payable by Tenant for the three (3) month period commencing on the November 1, 2006 (i.e., the Extended Term Commencement Date) and ending on January 31, 2007 to Seventy-Two Thousand One Hundred Seventy-Three and 40/100 Dollars ($72,173.40) (i.e., $2.85 per rentable square foot of Suite 400 only). 2
Sample 1
Abatement of Monthly Base Rent. The rent schedule set forth in Article 1.K. above reflects that, provided no event of default has occurred or is then occurring under this Lease (beyond any and all applicable notice and cure periods), Tenant shall be entitled to (i) a full abatement of Monthly Base Rent for the first (1st) [*] ([*]) full months of the Lease Term (such [*] ([*])-month period being referred to herein as the “Full Base Rent Abatement Period”), it being agreed that, but for the abatement provided herein, Tenant would be obligated to pay Monthly Base Rent for the first (1st) [*] ([*]) full months of the Lease Term at the per annum rate of $[*] per rentable square foot of the Premises, (ii) a [*] percent ([*]%) abatement of Monthly Base Rent for Lease Months [*] through [*], it being agreed that, but for the abatement provided herein, Tenant would be obligated to pay additional Monthly Base Rent for Lease Months [*] through [*] at the per annum rate of $[*] per rentable square foot of the Premises, (iii) a [*] percent ([*]%) abatement of Monthly Base Rent for Lease Months [*] through [*], it being agreed that, but for the abatement provided herein, Tenant would be obligated to pay Monthly Base Rent for Lease Months [*] through [*] at the per annum rate of $[*] per rentable square foot of the Premises, and (iv) a [*] percent ([*]%) abatement of Monthly Base Rent for Lease Months [*] through [*], it being agreed that, but for the abatement provided herein, Tenant would be obligated to pay Monthly Base Rent for Lease Months [*] through [*] at the per annum rate of $[*] per rentable square foot of the Premises.
Sample 1
Abatement of Monthly Base Rent. Notwithstanding anything in Section 5 above to the contrary and provided that Tenant is not then in default under the Original Lease or this Amendment, Tenant shall be entitled to an abatement of the monthly Base Rent due during the Lease Extension Term, in an amount equal to $569,936.16 in the aggregate (i.e. an amount equal to six times the monthly installment of Base Rent for the first year of the Lease Extension Term) (the “Base Rent Abatement Amount”), which shall be applied in equal monthly installments during the first three (3) years of the Lease Extension Term (i.e. $15,831.56 per month may be applied against the Monthly Base Rent each month until May 31, 2023). However, should Tenant become a publicly traded company through an initial public offering and provided Tenant is not then in default under the Original Lease or this Amendment, Tenant shall have the right to use its remaining Base Rent Abatement Amount, if any, to apply to Base Rent as it becomes due, starting the month following the initial public offering.
Sample 1
Abatement of Monthly Base Rent. Notwithstanding anything to the contrary contained herein, so long as Tenant is not in default under this Lease Monthly Base Rent and Adjusted Monthly Base Rent shall xxxxx under this Lease on 4,168 rentable square feet of the Premises for the period beginning on the Commencement Date and ending on the first to occur of
Sample 1

Related to Abatement of Monthly Base Rent

  • Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

  • Fixed Rent Tenant agrees to pay to Landlord, on the Rent Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1/12th) of the Annual Fixed Rent specified in Section 1.1 hereof. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Boston Properties Limited Partnership, as agent of Landlord. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as agent as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Rent Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Rent Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Rent Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord shall not commence until the Rent Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions of this Lease as and at the times provided in this Lease. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Monthly Rent The rent payable pursuant to Paragraph 5.A., as adjusted from time to time pursuant to the terms of this Lease.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Annual Base Rent Except as otherwise provided in this Lease, in the event of a default by Landlord, Tenant shall be entitled to any remedies available at law or in equity except for the right to terminate or rescind the Lease. It is expressly understood and agreed to between the parties that except as specifically provided in this Lease, Tenant expressly, knowingly, and voluntarily waives any right, claim, or remedy otherwise available to Tenant to terminate or rescind this Lease as a result of Landlord's default as to any covenant or agreement contained in this Lease or as a result of the breach of any promise or inducement allegedly made on behalf of Landlord, whether in this Lease or elsewhere. No act or omission of Landlord or its agents shall constitute an actual or constructive eviction of Tenant unless Landlord shall have first received written notice of Tenant's claim and shall have failed to cure it after having been afforded a reasonable time to do so, which in no event shall be less than thirty (30) days. Notwithstanding anything in this Lease to the contrary, Landlord shall never be liable to Tenant in the event of a default by Landlord or otherwise under any provision of this Lease for any loss of business or profits or other consequential damages or for punitive or special damages of any kind. None of Landlord's officers, members, managers, employees, agents, directors, shareholders, or partners shall ever have any personal liability to Tenant under or in connection with this Lease. Tenant shall look solely to Landlord's estate and interest in the Office Center for the satisfaction of any right or remedy of Tenant under this Lease, or for the collection of any judgment (or other judicial process) requiring the payment of money by Landlord, it being intended that there will be absolutely no personal liability on the part of Landlord, and no other property or assets of Landlord or its principals shall be subject to levy, execution, or other enforcement procedure for the satisfaction of Tenant's rights or remedies under this Lease, the relationship of Landlord and Tenant under this Lease, Tenant's use and occupancy of the Premises, or any other liability of Landlord to Tenant of whatever kind or nature, this exculpation of liability to be absolute and without exception whatsoever.

  • Base Rent Abatement Provided that no Event of Default is then occurring, then during the period beginning on the Expansion Commencement Date and ending on November 14, 2010 (the “Base Rent Abatement Periods”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the 6310 Initial Premises for such Base Rent Abatement Period (the “Base Rent Abatement”). Tenant acknowledges and agrees that notwithstanding such Base Rent Abatement, such abatement of Base Rent shall have no effect on the calculation of any future increases in Base Rent, Operating Expenses or Tax Expenses payable by Tenant pursuant to the terms of the Lease (as hereby amended), which increases shall be calculated without regard to such abatement of Base Rent or corresponding abatement periods. Such Base Rent Abatement has been granted to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the “rent” and performing the terms and conditions otherwise required under the Lease, as amended. Notwithstanding anything to the contrary set forth in this Section 4.3, to the extent an Event of Default is then occurring, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Base Rent Abatement Period, with interest as provided pursuant to the Lease from the date such Base Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of the Base Rent Abatement as of such Event of Default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the entire Premises in full.

  • Advance Rent The first full month’s rent shall be paid by Tenant to Landlord upon the execution of this Lease as advance rent, provided, however, that such amount shall be held by Landlord as an additional “Security Deposit” pursuant to this Lease until it is applied by Landlord to the first Minimum Monthly Rent due hereunder.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Rental Abatement Provided that any damage to either or both of the Property and the Premises is not caused by, or is not the result of acts or omissions by, any or all of Tenant and Tenant’s Parties, if (a) the Property is damaged by fire or other casualty thereby causing the Premises to be inaccessible or (b) the Premises are partially damaged by fire or other casualty, the Rent shall be proportionally abated to the extent of any actual loss of use of the Premises by Tenant.

Time is Money Join Law Insider Premium to draft better contracts faster.