Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 2 contracts
Samples: Office Lease (Anaptysbio Inc), Office Lease (Anaptysbio Inc)
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 Provided that no event of default is occurring during the period commencing on first (1st) day of the Summarysecond (2nd) full calendar month of the Lease Term and ending on last day of the fifth (5th) full calendar month of the Lease Term (the “Full Base Rent Abatement Period”), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent otherwise attributable to the Premises during such Full Base Rent Abatement Period (the “Full Base Rent Abatement”) for ). Landlord and Tenant acknowledge that the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (aggregate amount of the “Full Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two equals One Hundred TwentyForty-Four Thousand Six Two Hundred Twenty-Eight and 48/100 00/100 Dollars ($224,628.48144,228.00) (i.e., Thirty-Six Thousand Fifty-Seven and 00/100 Dollars ($36,057.00) per month). Tenant acknowledges and agrees that during such Full Base Rent Abatement Period, Period such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Full Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ ” (as that term is defined in Section 4.1, below, 4.1 of this Lease) during the Full Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Full Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease, is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Full Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, . The foregoing Full Base Rent Abatement rights set forth in this Section 3.2 shall only apply to the extent that the Lease is terminated pursuant to the provisions of Article 19Original Tenant or a Permitted Transferee Assignee (and not any other assignee, below, then as a part or any sublessee or other transferee of the recovery set forth Original Tenant’s interest in Section 19.2, below, Landlord shall be entitled to recover this Lease) is the then-unamortized portion of the monthly Base Rent that was abated Tenant under the provisions of this Section 3.2, which Lease during such Full Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 2 contracts
Samples: Office Lease (Airgain Inc), Office Lease (Airgain Inc)
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not in this Article 3 and in Section 4 default under the Lease, as amended hereby, then during the first six (6) full calendar months of the SummaryExpansion Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent otherwise attributable to the Expansion Premises during such Rent Abatement Period (the “Base Rent Abatement”) for ). Landlord and Tenant acknowledge and agree that the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (aggregate amount of the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two equals Eighty-Nine Thousand Four Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 00/100 Dollars ($224,628.4889,424.00). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this LeaseFirst Amendment, and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform the terms and conditions otherwise required under this the Lease, as amended hereby. If at any time during the Expansion Term Tenant shall be is in Economic Default of this Lease default under the Lease, as amended hereby, and Tenant shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this or if the Lease, that as amended hereby, is terminated for any reason other than Landlord’s breach of the Lease, as amended hereby, then the dollar amount of the unapplied portion of such Base the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the Expansion Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Office Lease (Rodgers Silicon Valley Acquisition Corp)
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 Provided that no event of economic or material non-economic default is occurring (beyond the applicable notice and in Section 4 of cure periods) during the Summary, Tenant shall not be obligated to pay periods comprising (and therefore shall not payi) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November August 1, 2011 2013, and ending on April 30January 31, 2012 2014 (the “Initial Base Rent Abatement Period”), and (ii) the five (5) month fifteen (15) day period commencing on July 1, 2018, and ending on December 15, 2018 (the “Subsequent Base Rent Abatement Period”) (the Initial Base Rent Abatement Period and the Subsequent Base Rent Abatement Period shall be collectively referred to as the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). In connection with Landlord and Tenant acknowledge that the foregoing, aggregate amount of the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two equals One Million Six Hundred TwentyForty-Four Thousand Six Hundred TwentySixty-Eight Nine and 48/100 60/100 Dollars ($224,628.481,644,669.60) (i.e., One Hundred Thirty-Two Thousand One Hundred Thirty-Nine and 00/100 Dollars ($132,139.00) per month during the Initial Base Rent Abatement Period and One Hundred Fifty-Four Thousand Eight Hundred Seventy-Nine and 20/100 Dollars ($154,879.20) per month during the Subsequent Base Rent Abatement Period). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ ” (as that term is defined in Section 4.1, below, 4.1 of this Lease) during the Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of economic or material non-economic default under this Lease and shall fail to cure such economic or material non-economic default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease, is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, . The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant and any of its Permitted Transferee Assignees and shall only apply to the extent that the Lease is terminated pursuant to the provisions Original Tenant or any of Article 19its Permitted Transferee Assignees (and not any other assignee, below, then as a part or any sublessee or other transferee of the recovery set forth Original Tenant’s interest in Section 19.2, below, Landlord shall be entitled to recover this Lease) is the then-unamortized portion of the monthly Base Rent that was abated Tenant under the provisions of this Section 3.2, which Lease during such Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 1 contract
Samples: Office Lease (Accelrys, Inc.)
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that no event of default is occurring beyond the applicable notice and cure periods provided in this Article 3 and in Section 4 Lease during the [********************************************************************************************************************** ****************] full calendar month of the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 initial Lease Term (the “Base Rent Abatement Period”). In connection with the foregoing, the Tenant shall not be obligated to pay any Base Rent Abatement provided otherwise attributable to Tenant pursuant to this Section 3.2 the Premises during the such Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48the “Base Rent Abatement”). [*************************** ********************************************************************************************] Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ ” (as that term is defined in Section 4.1, below, 4.1 of this Lease) during the Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, . The foregoing Base Rent Abatement right set forth in this Section 3.2 shall be personal to the Original Tenant and shall only apply to the extent that the Lease is terminated pursuant to the provisions of Article 19Original Tenant (and not any assignee, below, then as a part or any sublessee or other transferee of the recovery set forth Original Tenant’s interest in Section 19.2, below, Landlord shall be entitled to recover this Lease) is the then-unamortized portion of the monthly Base Rent that was abated Tenant under the provisions of this Section 3.2, which Lease during such Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 1 contract
Samples: Office Lease (Amplitude, Inc.)
Abated Base Rent. Notwithstanding any provision to the contrary provisions set forth in this Article 3 and contained in Section 4 of the Summary3.1 above, provided that Tenant is not in default under this Lease, Tenant shall not be obligated entitled to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises an abatement (the “Base Rent Abatement”) of one hundred percent (100%) of the Base Rent otherwise due for the six Premises during the second (62nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th), eighth (8th) month period commencing on November 1and ninth (9th) full calendar months of the Lease Term (collectively, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the for a total Base Rent Abatement provided amount equal to Tenant pursuant to this Section 3.2 during $6,658,764.00 in the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48)aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the The Base Rent Abatement Period. The foregoing Base Rent Abatement right set forth in this Section 3.2 has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent enter into this Lease and for the parties to perform comply with the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 Provided that no event of default is occurring on or before the last day of the Summarythird (3rd) full calendar month of the Lease Term, Tenant shall not be obligated to pay (and therefore shall not payi) the monthly installments of any Base Rent attributable to the Premises (the “Full Base Rent Abatement”) for otherwise attributable to the six Premises during the two (62) month period commencing on November 1, 2011 the first (1st) day of the first (1st) full calendar month of the Lease Term and ending on April 30, 2012 the last day of the second (2nd) full calendar month of the Lease Term (the “Full Base Rent Abatement Period”), and (ii) seventy-five percent (75%) of any Base Rent (the “Partial Base Rent Abatement”) otherwise attributable to the Premises during the third (3rd) full calendar month of the Lease Term (the “Partial Base Rent Abatement Period”). In connection with the foregoingFor purposes of this Lease, the Full Base Rent Abatement provided and the Partial Base Rent Abatement shall collectively be referred to Tenant pursuant to this Section 3.2 during herein as the “Base Rent Abatement,” and the Full Base Rent Abatement Period and the Partial Base Rent Abatement Period shall not exceed an collectively be referred to herein as the “Base Rent Abatement Period.” Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement shall equal One Hundred Nineteen Thousand Two Hundred TwentyThirty-Four Thousand Six Hundred Twenty-Eight Seven and 48/100 39/100 Dollars ($224,628.48119,237.39). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ ” (as that term is defined in Section 4.1, below, 4.1 of this Lease) during the Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease, is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, . The foregoing Base Rent Abatement right set forth in this Section 3.2 shall be personal to the Original Tenant and shall only apply to the extent that the Lease is terminated pursuant to the provisions of Article 19Original Tenant (and not any assignee, below, then as a part or any sublessee or other transferee of the recovery set forth Original Tenant’s interest in Section 19.2, below, Landlord shall be entitled to recover this Lease) is the then-unamortized portion of the monthly Base Rent that was abated Tenant under the provisions of this Section 3.2, which Lease during such Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 1 contract
Samples: Office Lease (Versartis, Inc.)
Abated Base Rent. Notwithstanding any contrary provisions set forth anything in this Article 3 and in Section 4 Lease to the contrary, so long as there exists no uncured monetary or material non-monetary Event of the SummaryDefault, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments any Monthly Installment of Base Rent attributable to the Initial 4430 Expansion Premises (the “Base Rent Abatement”) for the six four (64) month period commencing on November April 1, 2011 2017, and ending on April 30July 31, 2012 2017 (the “Base 4430 Rent Abatement Period”). In connection The aggregate amount of Monthly Installment of Rent to be abated with respect to the 4430 Expansion Premises in accordance with the foregoingforegoing shall equal 806,362.40 (the “Abated 4430 Rent”). If Landlord terminates this Lease following the occurrence of an Event of Default, then all unamortized Abated 4430 Rent (i.e. based upon the Base amortization of the Abated 4430 Rent in equal monthly amounts, without interest, during the period commencing on the day immediately following the expiration of the 4430 Rent Abatement provided to Tenant Period and ending on the Lease Expiration Date) shall immediately become due and payable. Only the Monthly Installment of Rent shall be abated pursuant to this Section 3.2 during Section, and Tenant’s Proportionate Share of Expenses, Insurance Costs and Taxes and all other rent and other costs and charges specified in the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses as amended, shall be remain as due and payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19the Lease, belowas amended. If there exists any uncured monetary or material non-monetary Event of Default at any time during the 4430 Rent Abatement Period, then as a part of Tenant’s right to receive the recovery set forth in Section 19.2, below, Landlord Abated 4430 Rent shall toll (and Tenant shall be entitled required to recover pay the then-unamortized portion Monthly Installment of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a during such period of sixty (60uncured Event of Default) months, employing an interest factor until Tenant has cured such Event of zero percent (0%)Default in accordance with this Lease.
Appears in 1 contract
Samples: Lease (Ellie Mae Inc)
Abated Base Rent. Notwithstanding Provided that Tenant is not then in monetary or material non-monetary default under the Lease, as hereby amended, beyond any contrary provisions set forth in this Article 3 applicable notice and in Section 4 of the Summarycure period, Tenant shall not be obligated required to pay (and therefore shall not pay) the monthly installments of any Base Rent attributable to the Premises (the “"Base Rent Abatement”") for during the six two (62) month period commencing on November February 1, 2011 2015 and ending on April 30March 31, 2012 2015 (the “"Base Rent Abatement Period”"). In connection with Landlord and Tenant acknowledge that the foregoing, aggregate amount of the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of equals One Million Two Hundred TwentyNinety-Four Nine Thousand Six Nine Hundred TwentySeventy-Eight Two and 48/100 80/100 Dollars ($224,628.481,299,972.80) (i.e., Six Hundred Forty-Nine Thousand Nine Hundred Eighty Six and 40/100 Dollars ($649,986.40) per month). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, Third Amendment and for Tenant’s agreement agreeing to pay the rent Rent, and for the parties to perform the terms and conditions 723517.06/WLA214064-00020/7-15-14/pjr 3 12400 HIGH BLUFF DRIVEThird Amendment[AMN Healthcare, Inc.] Exhibit 10.1 otherwise required under this the Lease, as hereby amended. If Tenant shall be in Economic Default of this Lease monetary or material non-monetary default under the Lease, as hereby amended, and shall fail to cure such default within any applicable the notice and cure period, if any, permitted under the Lease, as hereby amended, then Landlord may elect at its option, by notice to Tenant and Tenant, elect, in addition to any other remedies Landlord may have under this the Lease, as hereby amended, that the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Extended Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions Provided that no event of default (beyond the applicable 692500.09/WLA371593-00023/6-13-12/ao/ao -00- XXX XXXXXX[Xxxxxx Realty, L.P.][Concur Technologies, Inc.] notice and cure period set forth in this Article 3 and in Section 4 of Lease) is then occurring, the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable applicable to the Eleventh Floor Premises and the Twelfth Floor Premises during the four (the “Base Rent Abatement”) for the six (64) month period commencing on November 1, 2011 the Lease Commencement Date and ending on April 30, 2012 the day immediately prior to the fourth (4th) “monthly” anniversary of the Lease Commencement Date (the “"Base Rent Abatement Period”") shall be abated (the "Base Rent Abatement"). In connection with Landlord and Tenant acknowledge that the foregoing, aggregate amount of the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars equals $428,542.64 (i.e., $224,628.48107,135.66 per month). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Eleventh Floor Premises and the Twelfth Floor Premises shall have no effect on the calculation of the Base Rent for any other portion of the Premises, or on any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “"Additional Rent,’’ " (as that term is defined in Section 4.1, below, 4.1 of this Lease) during the Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that and if this Lease is then terminated by reason of such default, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default termination shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, . The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant and any Permitted Transferee Assignee and shall only apply to the extent that the Lease is terminated pursuant to the provisions of Article 19Original Tenant or a Permitted Transferee Assignee (and not any other assignee, below, then as a part or any sublessee or other transferee of the recovery set forth Original Tenant’s interest in Section 19.2, below, Landlord shall be entitled to recover this Lease) is the then-unamortized portion of the monthly Base Rent that was abated Tenant under the provisions of this Section 3.2, which Lease during such Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, provided there is not any default by Tenant under this Lease beyond any applicable notice and cure periods, Landlord hereby agrees to xxxxx Tenant's obligation to pay fifty percent (50%) of the Base Rent during the Abatement provided Months (such total amount of abated Base Rent being hereinafter referred to as the "Abated Base Rent"). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations under this Lease. Tenant acknowledges that any default by Tenant under this Lease beyond any applicable notice and cure periods will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain, therefore, should Tenant at any time during the Lease Term be in default under this Lease beyond any applicable notice and cure periods, then the total sum of the Abated Base Rent so conditionally excused as of such date shall become immediately due and payable by Tenant to Landlord and any remaining Abated Base Rent shall no longer be available to Tenant pursuant to this Section 3.2 during as a rent credit from the Base Rent Abatement Period shall not exceed an aggregate date of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48)such default. Tenant acknowledges and agrees that during nothing in this Section 3.2 is intended to limit any other remedies available to Landlord at law or in equity under "Applicable Laws" (as such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into Article 24 of this Lease, and for Tenant’s agreement to pay ) in the rent and for the parties to perform the terms and conditions otherwise required event of a default by Tenant under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure periodDOCPROPERTY "Document number" 4879-3072-0534. DOCPROPERTY "Document version" 3 DOCPROPERTY "Client" 391132. DOCPROPERTY "Matter" 00001/ SAVEDATE \@ M-d-yy U48er IniP/ DOCPROPERTY "User Init" jll/ DOCPROPERTY "Typist Init" jll -6- DOCPROPERTY "Footer Notes" THE BEACON[Palisade Bio, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).Inc.]
Appears in 1 contract
Samples: Office Lease (Palisade Bio, Inc.)
Abated Base Rent. Notwithstanding Provided that Tenant is not then in default of this Lease, beyond any contrary provisions set forth in this Article 3 applicable notice and in Section 4 cure periods, then for the period commencing on the first day of Lease Month 1 and ending on the expiration of Lease Month 12 (but excluding the remainder of the Summarycalendar month in which the Lease Commencement Date occurs if the Lease Commencement Date falls on other than the first day of such month) (the "Rent Abatement Period"), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable which would otherwise be payable under Section 3.1 above with respect to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base such Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base "Rent Abatement. Additionally"), except that, notwithstanding the foregoing, Tenant shall be remain obligated to pay all “Additional Rent,’’ of its other monetary obligations under this Lease with respect to the Rent Abatement Period other than such Rent Abatement, including, without limitation, (i) Tenant's Share of Operating Expenses, (ii) Tenant's costs and expenses attributable to utilities, heating and air conditioning provided to the Premises (in addition to any amounts payable by Tenant pursuant to Section 6.2 below), and (iii) any and all taxes and other charges as that term is defined set forth in Section 4.1, 4.5 below, during . Tenant acknowledges and agrees that the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, Lease and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease Lease, beyond any applicable notice and cure periods, and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion and this Lease terminated by Landlord under Article 19 as a result of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, belowdefault, then as a part of the recovery set forth in Section 19.2, below19.2.2 of this Lease, Landlord shall be entitled to recover the then-recovery of the unamortized portion of the monthly Base Rent that was abated under Abatement as of the provisions date of such termination (and for this Section 3.2, which Base purpose only the Rent Abatement shall be amortized on a level payment basis in equal monthly installments without interest over a period the portion of sixty the initial Lease Term commencing upon expiration of the Rent Abatement Period). The total amount of Base Rent abated during the Rent Abatement Period shall not exceed $2,473,696.80 (60) monthsi.e., employing an interest factor of zero percent (0%$206,141.40 per month).
Appears in 1 contract
Samples: Lease (Veeco Instruments Inc)
Abated Base Rent. Notwithstanding any provision to the contrary provisions set forth in this Article 3 and contained in Section 4 of the Summary3.1 above, provided that Tenant is not in default under this Lease, Tenant shall not be obligated entitled to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises an abatement (the “"Base Rent Abatement”") of one hundred percent (100%) of the Base Rent otherwise due for the six Premises during the second (62nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) month period commencing on November 1and eighth (8th) full calendar months of the Lease Term (collectively, 2011 and ending on April 30, 2012 (the “"Base Rent Abatement Period”"). In connection with the foregoing, the for a total Base Rent Abatement provided amount equal to Tenant pursuant to this Section 3.2 during $1,520,993.95 in the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48)aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the The Base Rent Abatement Period. The foregoing Base Rent Abatement right set forth in this Section 3.2 has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent enter into this Lease and for the parties to perform comply with the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease is terminated for any reason other than Landlord's breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in default of this Article 3 Lease, then during the first (l51) and in Section 4 second (2nd) full calendar months of the SummaryLease Term (the "Rent Abatement Period"), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “"Rent Abatement"). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $162,555.00. In addition, Tenant shall receive a credit against Base Rent Abatement”in an amount equal to $54,185.00 (i.e., an amount equal to $5.00 per rentable square foot of the Premises) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base "Rent Abatement Period”Credit"). In connection with the foregoing, which Rent Credit shall be applied to the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during otherwise due and owing for the Base third (3rd) full calendar month of the Lease Term. The Rent Abatement Period and Rent Credit shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight be known collectively as the "Rent Abatement and 48/100 Dollars ($224,628.48). Credit." Tenant acknowledges and agrees that during such Base the foregoing Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement and Credit has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent rental and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease Lease, and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant terms and in addition to conditions of the Lease, or if this Lease is terminated for any reason other remedies Landlord may have under than Landlord's breach of this Lease, that then the dollar amount of the unapplied portion of such Base the Rent Abatement and Credit as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summaryforegoing, Tenant shall not be obligated required to pay (and therefore shall not pay) the monthly installments of Base Rent otherwise attributable to the Premises (the “Base Rent Abatement”) for the six initial four (64) month period commencing on November 1, 2011 and ending on April 30, 2012 full calendar months of the Lease Term (the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant which period shall be determined pursuant to the terms of this Section 3.2 during 3.2. If the Lease Commencement Date occurs on the first day of a calendar month, then the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect commence on the calculation Lease Commencement Date and expire on the last day of any Direct Expenses payable by Tenant pursuant to the terms fourth (4th) month of this Leasethe Lease Term. If, which any Direct Expenses shall be payable during however, the Lease Commencement Date occurs on a day other than the first day of a calendar month, then, the Base Rent Abatement Period without regard to shall commence on the first day of the first (1st) full calendar month of the Lease Term and expire on the last day of the fourth (4th) full calendar month of the Lease Term. The amount of the Abated Monthly . Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during Thirty Thousand One Hundred Fifty-Three and 70/100 Dollars ($30,153.70) per month for each of the four (4) months of the Base Rent Abatement PeriodPeriod and shall not exceed a total of One Hundred twenty Thousand Six Hundred Fourteen and 80/100 Dollars ($120,614.80) in the aggregate. The foregoing Abated Monthly Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default default of this Lease during the Base Abatement Period and shall fail to cure such default within any applicable the notice and cure period, if any, permitted for such cure pursuant to this Lease, then Landlord may elect at its option, by notice to Tenant and Tenant, elect, in addition to any other remedies Landlord may have under this Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to repay the Landlord all Base Rent abated hereunder to date, with interest as provided pursuant to this 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 such Abated Monthly Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however. 621575.04/WLA B0452-039/11-6-07/sb/sb -0- XXXX XXXXXXX PLAZA [BrightSource Energy, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).Inc.]
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Subtenant is not then in this Article 3 and in Section 4 default of the SummarySublease (as amended), Tenant Subtenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent otherwise attributable to the Premises (the “Base "Rent Abatement”") for during the six (6) month period commencing on calendar months of October 2022, November 1, 2011 2022 and ending on April 30, 2012 December 2022 (the “Base "Rent Abatement Period”"). In connection with Sublandlord and Subtenant acknowledge that the foregoing, aggregate amount of the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars equals [**] ($224,628.48i.e., [ * * ] per month). Tenant Subtenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant Subtenant as additional consideration for entering into this LeaseFirst Amendment, and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform performing the terms and conditions otherwise required under this Leasethe Sublease (as amended). If Tenant Subtenant shall be in Economic Default of this Lease default under the Sublease (as amended) and shall fail to cure such default within any applicable the notice and cure period, if any, permitted for cure pursuant to the Sublease (as amended), then Landlord Sublandlord may elect at its option, by notice to Tenant and Subtenant, elect, in addition to any other remedies Landlord Sublandlord may have under this Leasethe Sublease (as amended), one or both of the following remedies: (i) that Subtenant shall immediately become obligated to pay to Sublandlord all Base Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to the Sublease (as amended) 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 such Base the Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Extended Term and Tenant Subtenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, . 5. Subtenant's Share of Building Direct Expenses. Subtenant shall continue to be obligated to pay Subtenant's Proportionate Share (which is [**]) of Sublandlord’s Proportionate Share of Operating Costs (“Additional Rent”) allocable to the extent Building in connection with the Lease is terminated pursuant Premises, which arise or accrue prior to October 1, 2022, in accordance with the provisions of Article 19, below, then as a part terms of the recovery set forth in Section 19.2Sublease. Effective as of October 1, below2022, Landlord and continuing throughout the Extended Term, the Base Year with respect Operating Costs arising or accruing thereafter shall be entitled to recover the then-unamortized portion calendar year 2022. Subtentant shall pay the prorata share (which is [**]) of the monthly Base Sublandlord’s Additional Rent that was abated under the provisions within ten (10) days of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period receipt of sixty (60) months, employing an interest factor such accounting of zero percent (0%)costs. 6.
Appears in 1 contract
Samples: Summit Therapeutics Inc.
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in default of this Article 3 Lease beyond all applicable notice and in Section 4 cure periods, then during the initial six (6) full calendar months of the SummaryLease Term (the "Rent Abatement Period"), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent otherwise attributable to the Initial Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base such Rent Abatement Period shall not exceed an (the "Rent Abatement"). Landlord and Tenant acknowledge that the aggregate amount of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars (the Rent Abatement equals $224,628.48)3,528,000.00. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent rental and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of monetary or material non-monetary default under this Lease prior to the expiration of the Rent Abatement Period, and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant terms and in addition to any other remedies Landlord may have under conditions of this Lease, that then the Rent Abatement Period shall be tolled until Tenant cures said default and Tenant shall immediately be obligated to begin paying Base Rent for the Initial Premises in full, but any unapplied portion of the Rent Abatement shall be abated again if Landlord subsequently accepts a cure by Tenant of such monetary or material non-monetary default. If this Lease is terminated prior to the expiration of the Rent Abatement Period for any reason other than Landlord’s breach of this Lease, or an event of casualty or condemnation, then, for purposes of calculating Landlord's remedies under Section 1951.2 of the California Civil Code, if any, the dollar amount of the unapplied portion of such Base the Rent Abatement as of the date of such default termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Term.
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in default of this Article 3 Lease beyond applicable notice and in Section 4 of cure periods, then during (i) the Summarysecond (2nd) through fifth (5th) full calendar months following the Lease Commencement Date (the “Rent Abatement Period”), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Base Rent Abatement”) for ), subject to Tenant's right to convert all or a portion of the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with to pay for all or a portion (up to the foregoing, the Base Rent Abatement provided to amount) of the Over-Allowance Amount set forth in Section 2 of the Tenant pursuant to this Section 3.2 during Work Letter, in which event the Base Rent Abatement Period shall not exceed an be equitably reduced to reflect the amount of Rent Abatement converted to pay for all or a portion of the Over-Allowance Amount. Landlord and Tenant acknowledge that the aggregate amount of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars (the Rent Abatement equals $224,628.48)[* * *]. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent rental and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease Lease, and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant terms and in addition to any other remedies Landlord may have under this conditions of the Lease, that or if this Lease is terminated for any reason other than Landlord’s breach of this Lease or an event of casualty or condemnation, at any time prior to the expiration of the Rent Abatement Period, then the dollar amount of the unapplied portion of such Base the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Boardwalk Lease (Arcturus Therapeutics Holdings Inc.)
Abated Base Rent. Notwithstanding any provision to the contrary provisions set forth in this Article 3 and contained in Section 4 of the Summary3.1 above, provided that Tenant is not in default under this Lease, Tenant shall not be obligated entitled to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises an abatement (the “Base Rent Abatement”) of one hundred percent (100%) of the Base Rent otherwise due for the six Premises during the second (62nd), third (3rd), fourth (4th), fifth (5th), thirteenth (13th), fourteenth (14th) month period commencing on November 1and fifteenth (15th) full calendar months of the Lease Term (collectively, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the for a total Base Rent Abatement provided amount equal to $686,373.00 in the aggregate; provided, however, that Landlord may, upon thirty (30) days’ prior notice to Tenant pursuant and at Landlord’s sole option, elect to accelerate Base Rent Abatement that will occur in a future month by converting such amount into a credit against Rent and applying the same to an earlier Lease Month(s) as designated by Landlord in such notice. The Base Rent Abatement right set forth in this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent enter into this Lease and for the parties to perform comply with the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Lease (Sorrento Therapeutics, Inc.)
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in this Article 3 and in Section 4 default of the SummaryLease, as amended, then during the period commencing on June 1, 2013 and continuing through and including November 30, 2015 (the “Fifth Amendment Rent Abatement Period”), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent otherwise attributable to a portion of the Building B Premises consisting of 952 rentable square feet during such Rent Abatement Period (the “Base Fifth Amendment Rent Abatement”) for ). Landlord and Tenant acknowledge that the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (aggregate amount of the “Base Fifth Amendment Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars (equals $224,628.48)45,341.86. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Fifth Amendment Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this the Lease, as amended, and for Tenant’s agreement agreeing to pay the rent rental and for the parties to perform performing the terms and conditions otherwise required under this the Lease, as amended. If Tenant shall be in Economic Default of this Lease default under the Lease, as amended, and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant terms and in addition to any other remedies Landlord may have under this conditions of the Lease, that or if the Lease, as amended, is terminated for any reason other than Landlord’s breach of the Lease, as amended, then the dollar amount of the unapplied portion of such Base the Fifth Amendment Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery . The Rent Abatement set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion 5.3 of the monthly Base Rent that was abated under Fourth Amendment shall not be applicable to the provisions 952 rentable square feet of space referenced in this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Office Lease (Ixia)
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises for the first two (2) full calendar months of the Lease Term, and then shall be obligated to pay only one-half (1/2) of the Base Rent attributable to the Premises for the third (3rd), fourth (4th) and fifth (5th) full calendar months of the Lease Term (collectively, the “Base Rent Abatement”) for the six (6) month ; such period commencing on November 1, 2011 and ending on April 30, 2012 (of abatement hereinafter referred to as the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the which Base Rent Abatement Period shall run from December 1, 2016 through April 30, 2017. The Base Rent Abatement shall not exceed an aggregate of Two Three Hundred Seventy-Nine Thousand Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 36/100 Dollars ($224,628.48379,026.36) (i.e., $108,293.25 per month during the first and second full calendar months of the Lease Term, and $54,146.62 per month during the third (3rd) through and including the fifth (5th) full calendar months of the Lease Term). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses (if any) shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall remain and be obligated to pay during the Base Rent Abatement Period all “Additional Rent,’’ ” as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of or Material Non-Economic Default under this Lease and shall fail to cure such default within at any time during the Base Rent Abatement Period beyond the expiration of all applicable notice and cure periodperiods, if any, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall granted to Tenant pursuant to this Section 3.2 may be amortized on a level payment basis over a period considered when determining the remedies available to Landlord pursuant to the terms of sixty (60) months, employing an interest factor Article 19 of zero percent (0%)this Lease.”
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in default of this Article 3 Lease beyond all applicable notice and in Section 4 cure periods, then during the initial six (6) full calendar months of the SummaryMust‑Take Space Lease Term (the "MTS Rent Abatement Period"), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent otherwise attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 Must‑Take Space during the Base such MTS Rent Abatement Period shall not exceed an (the "MTS Rent Abatement"). Landlord and Tenant acknowledge that, provided the entire MTS Rent Abatement Period occurs during Lease Year 2, the aggregate amount of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars (the MTS Rent Abatement equals $224,628.48)2,768,640.00. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base MTS Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent rental and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of monetary or material non-monetary default under this Lease prior to the expiration of the MTS Rent Abatement Period, and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant terms and in addition to any other remedies Landlord may have under conditions of this Lease, that then the MTS Rent Abatement Period shall be tolled until Tenant cures said default and Tenant shall immediately be obligated to begin paying Base Rent for the Must-Take Premises in full, but any unapplied portion of the MTS Rent Abatement shall be abated again if Landlord subsequently accepts a cure by Tenant of such monetary or material non-monetary default. If this Lease is terminated prior to the expiration of the MTS Rent Abatement Period for any reason other than Landlord’s breach of this Lease, or an event of casualty or condemnation, then, for purposes of calculating Landlord's remedies under Section 1951.2 of the California Civil Code, if any, the dollar amount of the unapplied portion of such Base the MTS Rent Abatement as of the 4000-0000-0000.5 391174.00001/5-24-21//mem -8- CXXXXX RIDGE [Turning Point Therapeutics] date of such default termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Term.
Appears in 1 contract
Abated Base Rent. Notwithstanding Provided that Tenant is not then in default of this Lease, beyond any contrary provisions set forth in this Article 3 applicable notice and in Section 4 of cure periods, then for the Summaryperiod commencing on August 1, 2015 and continuing through and including November 30, 2015 (the “Rent Abatement Period”), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1), 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionallyexcept that, notwithstanding the foregoing, Tenant shall be remain obligated to pay pay, in accordance with the terms of this Lease, (i) Tenant’s Share of Operating Expenses attributable to utilities, heating and air conditioning provided by Landlord to the Premises (in addition to any amounts payable by Tenant pursuant to Section 6.2 below), and (ii) any and all “Additional Rent,’’ taxes and other charges as that term is defined set forth in Section 4.1, 4.5 below, during . Tenant acknowledges and agrees that the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, Lease and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease Lease, beyond any applicable notice and cure periods, and shall fail to cure such default within any applicable the notice and cure period, if any, permitted for cure pursuant to this Lease and Landlord thereafter terminates this Lease, then Landlord may elect at its option, by notice to Tenant and Tenant, elect, in addition to any other remedies Landlord may have under this Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to this Lease from the date such Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions . The total amount of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under during the provisions of this Section 3.2, which Base Rent Abatement Period shall be amortized on a level payment basis over a period of sixty not exceed $583,259.60 (60) monthsi.e., employing an interest factor of zero percent (0%$145,814.90 per month).. PARK PLACE AT BAY XXXXXXX ZS Pharma, Inc.
Appears in 1 contract
Samples: Office Lease (ZS Pharma, Inc.)
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises for the first two full calendar months of the Lease Term, and then shall be obligated to pay only one-half of the Base Rent attributable to the Premises for the third, fourth, fifth, sixth and seventh full calendar months of the Lease Term (collectively, the “Base Rent Abatement”) for the six (6) month ; such period commencing on November 1, 2011 and ending on April 30, 2012 (of abatement hereinafter referred to as the “Base Rent Abatement Period”), which Base Rent Abatement Period is anticipated to run from December 1, 2016 through June 30, 2017. In connection with the foregoing, but subject to the express provisions of this Section 3.2, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Four Hundred TwentyEighty-Four Seven Thousand Six Three Hundred Twenty-Eight Nineteen and 48/100 60/100 Dollars ($224,628.48487,319.60) (i.e., $108,293.25 per month during the first and second full calendar months of the Lease Term, and $54,146.62 per month during the third through and including the seventh full calendar months of the Lease Term). Notwithstanding the foregoing, if (a) Landlord delivers Phase One to Tenant Ready for Occupancy on or before the Phase One Anticipated Delivery Date, then Tenant shall lose one full month of Base Rent Abatement, and/or (b) Landlord delivers Phase Two to Tenant Ready for Occupancy on or before the Phase Two Anticipated Delivery Date, then Tenant shall lose one full month of Base Rent Abatement (i.e., a maximum of two full months of lost Base Rent Abatement). Conversely, if (c) Landlord fails to deliver Phase One to Tenant Ready for Occupancy on or before the Phase One Anticipated Delivery Date; provided, however, that such Phase One Anticipated Delivery Date shall be deemed extended by one (1) day for each day of Tenant Delay including any delay by Tenant in adhering to the development schedule attached hereto as Schedule 2 of Exhibit B and Force Majeure delays (but excluding delays in obtaining required governmental permits within the time periods set forth in the development schedule), then Tenant shall be entitled to receive one additional full month of Base Rent Abatement, and/or (d) Landlord fails to deliver Phase Two to Tenant Ready for Occupancy on or before the Phase Two Anticipated Delivery Date; provided, however, that such Phase Two Anticipated Delivery Date shall be deemed extended by one (1) day for each day of Tenant Delay (including any delay by Tenant in adhering to the development schedule) and Force Majeure delays (but excluding delays in obtaining required governmental permits within the time periods set forth in the development schedule), then Tenant shall be entitled to receive one additional full month of Base Rent Abatement (i.e., a maximum of two full months of additional Base Rent Abatement). By way of example only, (x) if Landlord delivers Phase One on or before the Phase One Anticipated Delivery Date and delivers Phase Two on or before the Phase Two Anticipated Delivery Date, then Tenant shall lose two full months of Base Rent Abatement, which shall be the first and second full calendar months of the Lease Term, (y) if Landlord fails to deliver Phase One on or before the Phase One Anticipated Delivery Date and fails to deliver Phase Two on or before the Phase Two Anticipated Delivery Date, then Tenant shall be entitled to receive two full months of additional Base Rent Abatement, which shall be the eighth and ninth full calendar months of the Lease Term, and (z) if Landlord delivers Phase One on or before the Phase One Anticipated Delivery Date but fails to deliver Phase Two on or before the Phase Two Anticipated Delivery Date, or vice versa, then there shall be no change in the amount of Base Rent Abatement, because the two events shall offset each other. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses (if any) shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall remain and be obligated to pay during the Base Rent Abatement Period: (i) all “Additional Rent,’’ ” as that term is defined in Section 4.1, below, during ; and (ii) any “Additional Monthly Base Rent,” as that term is defined in Section 2.2 of the Base Rent Abatement PeriodWork Letter. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of or Material Non-Economic Default under this Lease and shall fail to cure such default within at any time during the Base Rent Abatement Period beyond the expiration of all applicable notice and cure periodperiods, if any, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall granted to Tenant pursuant to this Section 3.2 may be amortized on a level payment basis over a period considered when determining the remedies available to Landlord pursuant to the terms of sixty (60) months, employing an interest factor Article 19 of zero percent (0%)this Lease.
Appears in 1 contract
Samples: Genesis Campus Point (Heron Therapeutics, Inc. /De/)
Abated Base Rent. Notwithstanding any contrary provisions set forth anything in this Article 3 and in Section 4 Lease to the contrary, so long as there exists no uncured monetary or material non-monetary Event of the SummaryDefault, Tenant shall not be obligated entitled to pay an abatement of Monthly Installment of Rent with respect to the Expansion Premises in the amount of $79,292.50 per month (and therefore shall not payprorated for any partial month) for the monthly installments of Base Rent attributable to the Premises period commencing on January 1, 2016 and continuing through March 31, 2016 (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection The maximum total amount of Monthly Installment of Rent abated with respect to the Expansion Premises in accordance with the foregoingforegoing shall equal $237,877.50 (the “Abated Monthly Installment of Rent”). If Landlord terminates this Lease following the occurrence of an Event of Default, then all unamortized Abated Monthly Installment of Rent (i.e. based upon the Base amortization of the Abated Monthly Installment of Rent in equal monthly amounts, without interest, during the period commencing on the day immediately following the expiration of the Rent Abatement provided to Tenant Period and ending on the original Termination Date) shall immediately become due and payable. Only Monthly Installment of Rent shall be abated pursuant to this Section 3.2 during Section, as more particularly described herein, and Tenant’s Proportionate Share of Expenses, Insurance Costs and Taxes and all other rent and other costs and charges specified in the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses as amended, shall be remain as due and payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19the Lease, belowas amended. If there exists any uncured monetary or material non-monetary Event of Default at any time during the Rent Abatement Period, then as a part Tenant’s right to receive the Abatement Monthly Installment of the recovery set forth in Section 19.2, below, Landlord Rent shall toll (and Tenant shall be entitled required to recover the then-unamortized portion pay Monthly Installment of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a during such period of sixty (60uncured Event of Default) months, employing an interest factor until Tenant has cured such Event of zero percent (0%)Default in accordance with this Lease.
Appears in 1 contract
Samples: Lease (Ellie Mae Inc)
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in this Article 3 and in Section 4 default of the SummaryLease (as hereby amended), Tenant shall not be obligated then during the first two (2) years of the Expansion Term (the “Rent Abatement Period”), Tenant's obligation to pay (and therefore shall not pay) the monthly installments of Base Rent otherwise attributable to the Expansion Premises shall be modified as follows (the “Base Rent Abatement”): (i) for during the first full six (6) month period commencing on November 1calendar months of the Expansion Term, 2011 and ending on April 30, 2012 one hundred percent (the “Base Rent Abatement Period”). In connection with the foregoing, 100%) of the Base Rent Abatement provided otherwise attributable to Tenant pursuant to this Section 3.2 the Expansion Premises shall be abated, (ii) during the seventh (7th) through twelfth (12th) full calendar months of the Expansion Term, fifty percent (50%) of the Base Rent Abatement Period otherwise attributable to the Expansion Premises shall not exceed an aggregate be abated, (iii) during the thirteenth (13th) through twenty-fourth (24th) full calendar months of Two Hundred Twentythe Expansion Term, twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars five percent ($224,628.48)25%) of the Base Rent otherwise attributable to the Expansion Premises shall be abated. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this LeaseFirst Amendment, and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform performing the terms and conditions otherwise required under this Leasethe Lease (as hereby amended). If Tenant shall be in Economic Default of this default under the Lease (as hereby amended) and shall fail to cure such default within any applicable the notice and cure period, if any, permitted for cure pursuant to the Lease (as hereby amended), or if the Lease is terminated for any reason other than Landlord’s breach of the Lease, as amended, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this LeaseTenant, require that (a) the dollar amount of the unapplied portion of such Base the Rent Abatement as of the date of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term Expansion Term, and (b) Tenant's right to xxxxx all or any portion of the Base Rent attributable to the Expansion Premises shall immediately terminate and Tenant shall immediately be obligated to begin paying Base Rent for the Expansion Premises in full; provided however. XXXXXX XXXXX CORPORATE CENTER [Expansion and Extension Amendment] [Cytori Therapeutics, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).Inc.]
Appears in 1 contract
Samples: To Lease (Cytori Therapeutics, Inc.)
Abated Base Rent. Notwithstanding Provided that no event of default exists beyond any contrary provisions set forth in this Article 3 applicable notice and in Section 4 of cure period during the Summary, Tenant shall not be obligated to pay seven (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (67) month period commencing on November October 1, 2011 and 2017 on ending on April 30, 2012 2018 (the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). In connection with Landlord and Tenant acknowledge that the foregoing, aggregate amount of the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars equals $999,740.00 (i.e., $224,628.48142,820.00 per month). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any Direct Expenses future increases in Base Rent or additional rent payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, additional rent during the Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this LeaseAmendment, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this the Lease. If Tenant shall be in Economic Default of default under this Lease and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this the Lease, that then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however. The foregoing Base Rent Abatement right set forth in this Section 4 shall be personal to the Tenant, and any assignee of a Permitted Transfer, and shall only apply to the extent that Tenant or any assignee of a Permitted Transfer (and not any other assignee, or any sublessee, other than a sublessee under a Permitted Transfer, or other transferee of Tenant’s interest in this Lease, other than in connection with a Permitted Transfer) is the Tenant under this Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which during such Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 1 contract
Samples: Industrial Lease Agreement (CF Finance Acquisition Corp II)
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in this Article 3 and in Section 4 default of the SummaryLease, Tenant shall not be obligated to pay after expiration of any applicable notice and cure periods, then (and therefore shall not payi) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for during the six (6) month period commencing on November 1, 2011 the Phase I Premises Commencement Date and ending on April 30, 2012 date that is six (6) months thereafter (the “Base Initial Rent Abatement Period”). In connection , Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Phase I Premises during such Rent Abatement Period, and (ii) during the six (6) month period from the end of the Initial Rent Abatement Period and ending on the day that is twelve (12) months after the Lease Commencement Date (the "Second Rent Abatement Period"), Tenant shall be obligated to pay Base Rent with respect to the foregoingPhase I Premises as if the Phase I Premises contained only 32,534 RSF (i.e., the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 payable during the Base Second Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight be equal to $92,721 per month) (the abated rent for the Initial Rent Abatement Period and 48/100 Dollars ($224,628.48Second Rent Abatement Period, collectively, the “Rent Abatement”). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default default under the Lease, after expiration of this Lease and shall fail to cure such default within any applicable notice and cure period, or if the Lease is terminated as a result of an Event of Default by Tenant, then Landlord may elect at its option, by notice to Tenant and Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base the Rent Abatement as of the date of such default termination shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying pay Base Rent for the Phase I Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Office Lease (Zeltiq Aesthetics Inc)
Abated Base Rent. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in Default of this Article 3 and in Section 4 Lease, then during the period commencing on the first (1st) day of the Summaryinitial full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Base Rent Abatement”) for ). Landlord and Tenant acknowledge that the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (aggregate amount of the “Base Rent Abatement equals $2,767,115.01. If at any time during the Rent Abatement Period”). In connection with the foregoing, the Base Rent Abatement provided Tenant would otherwise be entitled to Tenant an abatement of rent payable under this Lease ( e.g., pursuant to this the provisions of Article 13, below, or Section 3.2 during 19.5.2, below), then the Base Rent Abatement Period shall not exceed be deemed suspended during the period during which Tenant is otherwise entitled to an abatement of rent payable under this Lease and shall be reinstated following the expiration of such other period of rent abatement (subject to the aggregate amount of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48the Rent Abatement in the immediately preceding sentence). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent rental and for the parties to perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of under this Lease Lease, and shall fail to cure such default Default within any applicable the notice and cure period. if any, then Landlord may elect at its option, by notice permitted for cure pursuant to Tenant terms and in addition to any other remedies Landlord may have under conditions of this Lease, that or if this Lease is terminated for any reason other than as described in Article 11, below, Article 13, below, or Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such Base the Rent Abatement as of the date of such default Default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Office Lease (Airbnb, Inc.)
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 Provided that no event of default is occurring during the Summary, Tenant shall not be obligated to pay seven (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (67) month period commencing on November 1, 2011 the first (1st) day of the first (1st) full calendar month of the Lease Term and ending on April 30, 2012 the last day of the seventh (7th) full calendar month of the Lease Term (the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). In connection with Landlord and Tenant acknowledge that the foregoing, aggregate amount of the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of equals One Hundred Seventy-Two Thousand Two Hundred TwentyThirty-Four Thousand Six Hundred Twenty-Eight Three and 48/100 60/100 Dollars (i.e., $224,628.4824,604.80 per month). Tenant acknowledges and agrees that during such the Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses increases shall be payable during the Base Rent Abatement Period calculated without regard to the such Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ ” (as that term is defined in Section 4.1, below, 4.1 of this Lease) during the Base Rent Abatement Period. The Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement agreeing to pay the rent Base Rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of default under this Lease and shall fail to cure such default within any applicable the notice and cure period, then Landlord may elect at its optionif any, by notice permitted for cure pursuant to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease, is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Lease is terminated pursuant to the provisions of Article 19Original Tenant (and not any assignee, below, then as a part or any sublessee or other transferee of the recovery set forth Original Tenant’s interest in Section 19.2, below, Landlord shall be entitled to recover this Lease) is the then-unamortized portion of the monthly Base Rent that was abated Tenant under the provisions of this Section 3.2, which Lease during such Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Period.
Appears in 1 contract
Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 conflicting provision of the SummaryLease or this First Amendment, Tenant shall provided that no event of Default then exists and is not be obligated to pay cured within any applicable cure period provided in the Lease, during the seven (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (67) month period commencing on November June 1, 2011 2013 and ending on April 30December 31, 2012 2013 (the “Base Rent Abatement Period”). In connection with the foregoing, the Tenant shall not have any obligation to pay any Base Rent Abatement provided attributable to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that Original Premises or the Substitute Premises, as applicable, during such Base Rent Abatement PeriodPeriod (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals $435,103.06 (i.e., $62,157.58 per month). Notwithstanding such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of (a) all other sums due under this Lease, which any Direct Expenses including Additional Rent, shall be payable during as provided in this Lease, and (b) any increases in Base Rent set forth in the Lease (as hereby amended) shall occur on the dates scheduled therefor. The Base Rent Abatement Period without regard to provided for in this Section 6.3 is conditioned upon Tenant’s full and timely performance of all of its obligations under the Base Rent AbatementLease (as hereby amended). Additionally, notwithstanding the foregoing, If Tenant shall be obligated to pay all “Additional Rent,’’ in Default of the Lease (as that term hereby amended), and such Default is defined not cured within any applicable cure period provided in Section 4.1the Lease, below, at any time during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for then Tenant’s agreement right to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within receive any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period suspended until the first day of sixty (60) months, employing an interest factor the first calendar month following the date upon which Tenant cured such event of zero percent (0%)Default.
Appears in 1 contract
Samples: Office Lease (Bsquare Corp /Wa)
Abated Base Rent. Notwithstanding any anything to the contrary provisions set forth in this Article 3 contained herein (specifically including Section 3.2(i), above) and in Section 4 provided that Tenant faithfully performs all of the Summaryterms and conditions of this Lease, Tenant shall not be obligated Landlord hereby agrees to xxxxx Tenant’s obligation to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November August 1, 2011 2010, and ending on April 30January 31, 2012 (the “Base Rent Abatement Period”)2011. In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 3.3 during the Base Rent Abatement Period shall not exceed an aggregate of Two Three Hundred Twenty-Four Nine Thousand Six Hundred Twenty-Eight and 48/100 00/100 Dollars ($224,628.48309,600.00). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ ” as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to In the event of a default by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent and for the parties to perform under the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and that results in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated early termination pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)3.3.
Appears in 1 contract
Samples: Office Lease (Volcano Corp)
Abated Base Rent. Notwithstanding any provision to the contrary provisions set forth in this Article 3 and contained in Section 4 of the Summary3.1 above, provided that Tenant is not in default under this Lease, Tenant shall not be obligated entitled to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises an abatement (the “Base Rent Abatement”) of one hundred percent (100%) of the Base Rent otherwise due for the six Premises during the second (62nd), third (3rd), fourth (4th), fifth (5th), sixth (6th) month period commencing on November 1and seventh (7th) full calendar months of the Lease Term (collectively, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, the for a total Base Rent Abatement provided amount equal to Tenant pursuant to this Section 3.2 during $1,380,366.00 in the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48)aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the The Base Rent Abatement Period. The foregoing Base Rent Abatement right set forth in this Section 3.2 has been agreed granted to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent enter into this Lease and for the parties to perform comply with the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of such the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).
Appears in 1 contract
Samples: Sorrento Gateway Lease (Sorrento Therapeutics, Inc.)