Common use of Abated Base Rent Clause in Contracts

Abated Base Rent. Provided that Tenant is not then in default of this Lease (beyond all applicable notice and cure periods), then during the two (2) month period commencing on the first (1st) day of the second (2nd) 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 “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”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four and 80/100 Dollars ($204,364.80). Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease during the Base Rent Abatement Period, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Lease, 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 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.

Appears in 2 contracts

Samples: Lease (Decipher Biosciences, Inc.), Lease (Decipher Biosciences, Inc.)

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Abated Base Rent. Provided that Tenant is not then in default of this the Lease (beyond all as hereby amended) and shall fail to cure such default within the applicable notice and cure periods)period, then during the two (2) month period commencing on the first (1st) day of the second (2nd) full calendar month of the Lease Term Expansion Rent Commencement Date and ending on the last day of the third date that is six (3rd6) full calendar month of the Lease Term months after such date (the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Expansion Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four and 80/100 Dollars $285,812.64 (i.e., $204,364.8047,635.44 per month). Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this the Lease during the Base Rent Abatement Period, (as hereby amended) and shall fail to cure such default within the applicable notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Lease, or if this the Lease is terminated for any reason other than Landlord’s breach of this Lease(as hereby amended), then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease (as hereby amended), that the dollar amount of the unapplied portion of 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 at the end of the Lease Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the entire Premises in full. The Rent Abatement shall not affect Tenant’s obligations to pay Tenant’s Share of Direct Expenses or any other amount attributable to Tenant’s use and occupancy of the Expansion Premises in accordance with the terms of the Lease.

Appears in 2 contracts

Samples: Lease (Avinger Inc), Lease (Avinger Inc)

Abated Base Rent. Provided that Tenant is not then in default of this the Lease (beyond all applicable notice and cure periodsas hereby amended), then during the two (2) month 2)-month period commencing on the first (1st) day of the second (2nd) full calendar month of the Lease Term October 1, 2018 and ending on the last day of the third (3rd) full calendar month of the Lease Term November 30, 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”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four and 80/100 Dollars $414,504.00 (i.e., $204,364.80207,252.00 per month). Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseFirst Amendment, and for agreeing to pay the rental Rent and performing perform the terms and conditions otherwise required under this Leasethe Lease (as hereby amended). If Tenant shall be in default under this the Lease during the Base Rent Abatement Period, (as hereby amended) and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Leasethe Lease (as hereby amended), or if this the Lease (as hereby amended) is terminated for any reason reason, other than Landlord’s breach as the result of this Leasecasualty or condemnation, then the dollar amount of the unapplied portion of the Base Rent Abatement as of the date of such default or terminationLandlord may at its option, as the case by notice to Tenant, elect, in addition to any other remedies Landlord may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of have under the Lease Term and (as hereby amended), the following remedy: that Tenant shall immediately be become obligated to begin paying pay to Landlord all Base Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to the Lease from the date such Base Rent would have otherwise been due but for the Premises in fullabatement provided herein.

Appears in 1 contract

Samples: Lease (Vical Inc)

Abated Base Rent. Provided that Tenant is not then in default of this Lease (beyond all applicable notice and cure periods)under the Lease, as amended hereby, then during the two first six (2) month period commencing on the first (1st) day of the second (2nd6) full calendar month months of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Expansion Term (the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Expansion Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). Landlord and Tenant acknowledge and agree that the aggregate amount of the Base Rent Abatement during the Rent Abatement Period equals Two Eighty-Nine Thousand Four Hundred Four Thousand Three Hundred SixtyTwenty-Four and 80/100 00/100 Dollars ($204,364.8089,424.00). Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseFirst Amendment, and for agreeing to pay the rental Rent and performing 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 default under this Lease during the Base Rent Abatement PeriodLease, as amended hereby, and Tenant shall fail to cure such default within the any applicable notice and cure period, or if any, permitted for cure pursuant to terms and conditions of this the Lease, or if this Lease as amended hereby, is terminated for any reason other than Landlord’s breach of this the Lease, as amended hereby, then the dollar amount of the unapplied portion of 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 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.

Appears in 1 contract

Samples: Office Lease (Rodgers Silicon Valley Acquisition Corp)

Abated Base Rent. Provided that Tenant is not then in default of this the Lease (beyond all applicable notice and cure periodsas hereby amended), then during the two (2) month period commencing on the first (1st) day of the second (2nd) full calendar month of the Lease Term January 1, 2020 and ending on the last day of the third (3rd) full calendar month of the Lease Term August 31. 2020 (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”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four $1,872,188.80 (i.e., $159,579.20 per month with respect to the Existing Premises and 80/100 Dollars ($204,364.8074,444.40 per month with respect to the Expansion Premises). Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseThird Amendment, and for agreeing to pay the rental Rent and performing the terms and conditions otherwise required under this Leasethe Lease (as hereby amended). If Tenant shall be in default under this Lease during the Base Rent Abatement PeriodLease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this the Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, casualty or condemnation, then the dollar amount of the unapplied portion of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.. 1000 XXXXX XXXXXX 798514 .04/WLA -4- [Third Amendment) 888888-00019 / 5-6- 19 /ctl/c tl [AssetMark, Inc.]

Appears in 1 contract

Samples: Office Lease (AssetMark Financial Holdings, Inc.)

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Abated Base Rent. Provided that Tenant is not then in default under the terms of this Lease (beyond all applicable notice and cure periods)Lease, then Tenant shall not be obligated to pay the Base Rent otherwise attributable to the Premises (the “Rent Abatement”) during the first two (2) month period commencing on the first (1st) day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month months 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”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four and 80/100 Dollars ($204,364.80)12,347.50 per month during the Rent Abatement Period. Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental Rent and performing perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease during the Base Rent Abatement Period, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then Landlord may, at its option, 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 Base Rent abated hereunder during the Rent Abatement Period, 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 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.

Appears in 1 contract

Samples: Office Lease (Cra International, Inc.)

Abated Base Rent. Provided that Tenant is not then in default under the terms of this Lease (beyond all applicable notice and cure periods)Lease, then Tenant shall not be obligated to pay the Base Rent otherwise attributable to the Premises (the "Rent Abatement") during the two (2) month period commencing on the first (1st) day of the second (2nd) 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 “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”"). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four and 80/100 Dollars ($204,364.80)34,643.70 "Abatement Amount". Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental Rent and performing perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease during the Base Rent Abatement Period, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then Landlord may at its option, elect, in addition to any other remedies Landlord may have under this Lease, the following remedy: that the dollar amount of the unapplied portion of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.

Appears in 1 contract

Samples: Office Lease (Healthequity, Inc.)

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