Abated Rent. If this Lease provides for a postponement of any monthly rental payments, a period of free Rent or other Rent concession, such postponed rent or free rent is called the "Abated Rent." Lessee shall be credited with having paid all the Abated Rent on the expiration of the term of this Lease only if Lessee has fully, faithfully and punctually performed all of Lessee's obligations hereunder, including the payment of all Rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Premises in the condition required by this Lease. Lessee acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Xxxxxx's full, faithful and punctual performance of its obligations under this Lease. If Lessee defaults and does not cure within any applicable grace period, the Abated Rent shall immediately become due and payable in full and this Lease shall be enforced as if there were no such Rent abatement or other Rent concession. In such case, Abated Rent shall be calculated based on the full initial rent payable under this Lease, plus interest thereon at the rate of twelve percent (12%) per annum from date each monthly Rental payment was postponed.
Abated Rent. If this Amendment provides for a postponement of any Base Rent or payment of Operating Expenses, a period of “free” rent, reduced rent, early occupancy, or other rent concession, such postponed rent, “free” rent, reduced rent or other rent concession shall be referred to herein as the “Abated Rent”. Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Second Extension Period only if Tenant has fully, faithfully, and punctually performed all of Tenant’s obligations hereunder, including the payment of all Base Rent and Operating Expenses (other than the Abated Rent) and all other monetary’ obligations and the surrender of the Premises in the physical condition required by this Amendment. Tenant acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Tenant’s full, faithful and punctual performance of its obligations under this Amendment. If an Event of Default shall occur, the Abated Rent shall immediately become due and payable in full and this Amendment shall be enforced as if there were no such rent abatement or other rent concession. In such case Abated Rent shall be calculated based on the Hill initial Base Rent payable under this Amendment.
Abated Rent. Notwithstanding anything contained herein or in the Lease to the contrary, Base Rent in the monthly amount of $16,333.33 for Third Expansion Space-A, and $7,500.50 for Third Expansion Space-B, and Tenant’s Proportionate Share of Taxes, utilities and other services, and other costs collectively referred to as Tenant Costs in Xxxxxxxxx 0X of the Lease shall be abated for the time periods specified above. All such amounts are referred to herein as the “Abated Rent”. If, at the time any Abated Rent is due to Tenant, there is an uncured Event of Default under the Lease and Landlord has not terminated the Lease as provided for in Paragraph 20(a) of the Lease, Landlord shall provide Tenant with a second written notice of such Event of Default, unless the original Event of Default was pursuant to Paragraph 19C or Paragraph 19D of the Lease in which case the above-described notice is not required, and Tenant shall have the same right to cure such Event of Default as Tenant had when Tenant was first notified of the Event of Default as provided for in Paragraph 19 of the Lease, as modified by Paragraph 21 of this Amendment. No further Rent shall be abated unless, following such second written notice, Tenant cures such Event of Default within applicable cure period described in the Lease. Notwithstanding anything to the contrary in this Paragraph 3(c), in the event of termination of the Lease as a result of Tenant’s failure to cure an Event of Default, in addition to any other amounts recoverable by Landlord pursuant to the terms of the Lease, Tenant shall pay to Landlord an amount equal to the unamortized portion (as of the date of such default) of any Abated Rent realized by Tenant pursuant to this Amendment based on a sixty (60) month straight line amortization schedule with the first month of such period being July, 2010.
Abated Rent. Sublessee will not be entitled to the benefit of any rent abatement or reduction provided to Sublessor under the Master Lease. However, Sublessee shall receive abatement of its obligation to pay fifty percent (50%) of the monthly Base Rent due hereunder during the second (2nd) through tenth (10th) full months of the Term of this Sublease (for instance, if Commencement Date is January 15, 2018 then 50% of Base Rent shall be abated for the months of March-November 2018). Sublessee shall be responsible for its Pro Rata Share (as defined below) of all other Rent payable hereunder and for janitorial costs for the Sublease Premises during such Base Rent abatement period. In the event Sublessee defaults under this Sublease after the expiration of any applicable notice and cure period, Sublessor will be entitled to reimbursement of all Base Rent abated pursuant to this paragraph.
Abated Rent. In the event that Tenant is not then in economic default of the Lease (as hereby amended, and beyond any applicable notice and cure period), then during the twelve month period commencing on the Expansion Commencement Date and ending on the day immediately prior to the first anniversary of the Expansion Commencement Date (the “Rent Abatement Period”), Tenant shall only be obligated to pay one-half (½) of (i) the Base Rent and (ii) Tenant’s Share of Direct Expenses, which are otherwise attributable to the Expansion Premises during such Rent Abatement Period (the “Rent Abatement”). To the extent that Tenant is in such economic default of the Lease (as hereby amended, and beyond any applicable notice and cure period) as of the first day of any calendar month that is part of the Rent Abatement Period, then Tenant shall be obligated to immediately pay the full amount of the Base Rent and Tenant’s Share of Direct Expenses otherwise (but for the Rent Abatement) attributable to the Expansion Premises during such calendar month (each such month, a “Deferred Abatement Month”); provided, however, that following Tenant’s full payment of any and all such amounts and Tenant’s cure of any such economic default, the Rent Abatement Period shall be extended one (1) month for each Deferred Abatement Month; provided further, however, in no event shall the total dollar amount of such Rent Abatement exceed the dollar amount of the Rent Abatement otherwise attributable to the first twelve months immediately following the Expansion Commencement Date.
Abated Rent. Provided that Tenant is not then in default of the Lease, after expiration of any applicable notice and cure periods, then during the five (5) month period commencing on the Lease Commencement Date and ending on date that is five (5) months thereafter (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (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 Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under the Lease, after expiration of 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 at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of the Rent Abatement as of the date of such termination 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 pay Base Rent for the Premises in full.
Abated Rent. Notwithstanding anything herein to the contrary, Sublandlord and Subtenant acknowledge and agree that Subtenant shall not pay Monthly Base Rent (the “Abated Base Rent”) for the Premises for first (1st), thirteenth (13th), twenty-fifth (25th), thirty-seventh (37th) and forty-ninth (49th) full calendar month after the Commencement Date (the “Base Rent Abatement Period”) of the Term hereof. Notwithstanding the foregoing, if, at any time during the Term, Subtenant is in uncured default under the terms of this Sublease, then (i) any remaining right to the Abated Base Rent during the Base Rent Abatement Period shall be null and void and of no further force or effect, (ii) Monthly Base Rent for any remaining portion of the Base Rent Abatement Period shall be payable in accordance with the terms of this Sublease without regard to the terms of this Section 3.2, and (iii) Sublandlord shall be entitled to recover, and Subtenant shall pay to Sublandlord, the unamortized portion of the Abated Base Rent as of the date of termination as damages hereunder. For the avoidance of doubt, Subtenant shall pay Subtenant’s Pro Rata Share of Additional Rent with respect to the Premises during the Base Rent Abatement Period (including, without limitation, Direct Expenses, Operating Expenses and Tax Expenses).
Abated Rent. As an inducement for Tenant to enter into this Lease with Landlord, Landlord hereby conditionally abates Tenant’s obligation to pay one-half (½) of Monthly Rent due in months 5 and 11 of each Lease Year of the Lease Term for a total of ten (10) months, provided however Tenant shall pay all other sums and charges payable under the Lease (including, without limitation any Additional Rent and parking charges) during said months. Such abated rent shall be collectively referred to as the “Rent Concessions”. Tenant agrees Landlord’s granting of the Rent Concessions shall be deemed conditioned upon Tenant’s full and faithful performance of all the terms, covenants and conditions of this Lease to be performed or observed by Tenant during the term hereof. Upon any event of default of this Lease by Tenant which is not cured within the time limits (if any) specified in Article 19, all Rent Concessions which may come due in the future pursuant to the terms of this Lease shall automatically be deemed deleted from this Lease and of no further force and effect and any Rent Concessions theretofore given or paid by Landlord shall be immediately due and payable by Tenant to Landlord and recoverable by Landlord as Additional Rent due under this Lease, and notwithstanding any subsequent cure of such event of default.
Abated Rent. Notwithstanding anything to the contrary, Tenant may occupy the Premises and shall be entitled to the full abatement of Basic Rent and Additional Rent attributable to Tenant's Share of Expenses (the "Abated Rent") for the period of March 1, 2014 through May 31, 2014. The parties agree that the value of the Abated Rent shall be $59,082.15. If no uncured Event of Default by Tenant occurs prior to the expiration of the Term, then Tenant shall have no obligation to pay the Abated Rent. The Abated Rent shall be amortized en a straight-line basis in equal monthly installments over the 36-month period commencing on June 1, 2014. If at any time during said period an Event of Default occurs, and if said default is not cured as provided in this Lease, then Tenant shall pay to Landlord, in addition to all other amounts owed hereunder, a sum equal to the portion of the Abated Rent that has not been amortized as of the date the Event of Default occurs.
Abated Rent. Base Rent (but not Additional Rent) shall be abated for a total of three (3) full calendar months after the Commencement Date, which is estimated to be the sum of $1,596,375 (subject to adjustment based on actual Rentable Area) Letter of Credit Amount: Initially, $1,100,000, to be increased to $2,200,000 no later than the date Landlord commences construction of the Base Building Work, and subject to reduction as provided in Section 6.5(a) Parking: One (1) parking space per 300 square feet of Rentable Area (excluding any spaces considered by the City to be amenity space, such as an on-site cafeteria or fitness center), and including those parking spaces located in the garage Permitted Use: Research and development, including pharmaceutical and biotech research and development, and ancillary general office uses, and including laboratories, warehousing and full service kitchen/cafeteria, to the extent permitted under City ordinances and subject to Landlord’s reasonable approval Tenant Improvement Allowance: $50 per square foot of Rentable Area, based on the actual Rentable Area of Premises, as certified by Landlord’s architect and as determined in accordance with Section 2.4
