Common use of Abated Base Rent Clause in Contracts

Abated Base Rent. Subject to the terms of Section 2.5 of the Tenant Work Letter, and provided that an Option Nullification Default has not occurred under this Lease, then during the first (1st), second (2nd), third (3rd), fourth (4th), thirteenth (13th) and thirty-seventh (37th) full calendar months of the Lease Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent or Direct Expenses otherwise attributable to the Premises (the “Rent Abatement”). Tenant acknowledges and agrees that the foregoing 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 an Option Nullification Default shall occur under 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 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 and Direct Expenses for the Premises in full.

Abated Base Rent. Subject to the terms Provided that Tenant is not then in default of Section 2.5 of the Tenant Work Letter, and provided that an Option Nullification Default has not occurred under this Lease, then during the first (1st), second (2nd), third (3rd), fourth (4th), thirteenth (13th) and thirty-seventh (37th) full calendar months month of the Lease Term (the “"Rent Abatement Period”"), Tenant shall not be obligated to pay any Base Rent or Direct Expenses 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 $45,794.50. Xxxxxx acknowledges and agrees that the foregoing 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 an Option Nullification Default Tenant shall occur be in default under this Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of the 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 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 and Direct Expenses for the Premises in full.

Abated Base Rent. Subject to the terms Provided that Tenant is not then in default of Section 2.5 of the Tenant Work Letter, and provided that an Option Nullification Default has not occurred under this Lease, then during the first (1st), second (2nd), third (3rd), fourth (4th), thirteenth (13th) and thirty-seventh (37th) full calendar months month(s) of the Lease Term (the “"Rent Abatement Period”"), Tenant shall not be obligated to pay any Base Rent or Direct Expenses 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 $34,125.80. Tenant acknowledges and agrees that the foregoing 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 an Option Nullification Default Tenant shall occur be in default under this Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, or if this Lease is terminated for any reason other than Landlord’s breach on account of this Leasesuch uncured default, then the dollar amount of the unapplied portion of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Direct Expenses for the Premises in full.