Common use of Abated Rent Clause in Contracts

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. In the event Tenant acknowledges that Tenant will be required to pay on the Rental Commencement Date any Rent due for the partial month during which the Rental Commencement Date occurs if the Rental Commencement Date is not then in economic default other than the first day of a full calendar month. Only Base Rental, Tenant's Forecast Additional Rental, and Tenant's Additional Rental shall be abated during the Rent Abatement Period; all other Rent, including, without limitation, overtime HVAC charges and parking charges, shall continue to be due and payable pursuant to the provisions of this Lease. Further, the right to receive an abatement of the Lease (as hereby amendedAbated Rent pursuant to this Article 4(d) is personal to RigUp, Inc., and may not be assigned, transferred or conveyed to any individual, entity, successor or assign; upon any sublease, assignment or other transfer described in Article 10 below, the right of Tenant to receive an abatement of the Abated Rent shall automatically terminate and be of no further force or effect. Notwithstanding the foregoing to the contrary, if there occurs an event of default beyond any applicable notice and cure period), then periods at any time during the twelve month period commencing on the Expansion Commencement Date Term, all unamortized Abated Rent shall immediately become due 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) payable by 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 there shall be no further abatement pursuant to this section after such event of default if the first day event of any calendar month that is part of default occurs during the Rent Abatement Period, then Tenant shall be obligated to immediately pay . The unamortized amount of Abated Rent is calculated by amortizing the full aggregate amount of the Abated Rent over the number of months of the Term during which Tenant is required to pay Base Rental at the Default Rate per annum on a monthly basis and multiplying the monthly amortized amount by the number of months remaining in the Term after the applicable event of default. The payment by Tenant of the Abated Rent and Tenant’s Share of Direct Expenses otherwise (but for the Rent Abatement) attributable pursuant to the Expansion Premises during such calendar month (each such monthforegoing after an event of default shall not limit or affect any of Landlord's other rights or remedies pursuant to this Lease, 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, at law or 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 Dateequity.

Abated Rent. In the event Provided that Tenant is not then in economic default of the Lease (as hereby amendedthis Lease, and beyond any applicable notice and cure period)periods, then during for the twelve month period commencing on the Expansion Commencement Date January 1, 2015 and ending on the day immediately prior to the first anniversary of the Expansion Commencement Date continuing through and including May 31, 2015 (the “"Rent Abatement Period”"), Tenant shall only not be obligated to pay one-half (½a) Base Rent, or (b) Tenant's Share of Building Direct Expenses (as those terms are defined in Section 4.1 below) (the "Rent Abatement"), except that, notwithstanding the foregoing, Tenant shall remain obligated to 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 Base Rent Premises (in addition to any amounts payable by Tenant pursuant to Section 6.2 below), and (ii) Tenant’s Share of Direct Expenses, which are otherwise attributable to any and all taxes and other charges as set forth in Section 4.5 below. Tenant acknowledges and agrees that the Expansion Premises during such foregoing Rent Abatement Period (has been granted to Tenant as additional consideration for entering into this Lease and for agreeing to pay the “Rent Abatement”)and performing the terms and conditions otherwise required under this Lease. To the extent that If Tenant is shall be in such economic default of the Lease (as hereby amendedunder this Lease, and beyond any applicable notice and cure periods, and shall fail to cure such default within the notice and cure period) as , if any, permitted for cure pursuant to this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, one or both of the first day of any calendar month following remedies: (i) that is part of Tenant shall immediately become obligated to pay to Landlord all Rent abated hereunder during the Rent Abatement Period, then Tenant shall be obligated with interest as provided pursuant to immediately pay this Lease from the full amount of the Base date such Rent and Tenant’s Share of Direct Expenses would have otherwise (been due but for the Rent Abatementabatement provided herein, or (ii) 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 unapplied portion of the Rent Abatement otherwise attributable as of such default shall be converted to a credit to be applied to the first twelve months Rent applicable at the end of the Lease Term and Tenant shall immediately following be obligated to begin paying Rent for the Expansion Commencement DatePremises in full.