Adjustment of Base Rent. Effective July 1, 2012, Base Rent shall be in accordance with the Rent Schedule set forth below: 7/1/12 – 6/30/13 $ 38,433.75 per month 7/1/13 – 6/30/14 $ 39,472.50 per month 7/1/14 – 6/30/15 $ 40,511.25 per month
Adjustment of Base Rent. Commencing on January 1, 2007, and on each January 1 thereafter (each an "Adjustment Date") during the term of this Lease, the Base Rent shall be increased, if any, by an amount equal to the greater of (A) two percent (2%) per annum of the prior year's Base Rent, or (B) the percentage by which the CPI on the Adjustment Date shall have increased over the CPI figure in effect on the immediately preceding January 1. If the previous year's Base Rent is for a partial year, Base Rent shall be annualized based on the highest annual rate effective during the preceding year. Notwithstanding anything contained herein to the contrary, the parties hereto acknowledge and agree that all calculations of Base Rent as specified herein have been made by multiplying the Initial Purchase Price by the Lease Rate. In the event the Initial Purchase Price or Lease Rate is adjusted, then all calculations of Base Rent shall be adjusted accordingly.
Adjustment of Base Rent. Lessor and Lessee hereby agree that §51(a) of the Lease, as amended, shall be replaced with the following Base Rent Schedule (the “Base Rent Schedule”): February 1, 2012 – January 31, 2013 126,715 SF x $1.06 SF/NNN $ 134,318.00 February 1, 2013 – January 31, 2014 126,715 SF x $1.16 SF/NNN $ 146,989.40 February 1, 2014 – January 31, 2015 126,715 SF x $1.21 SF/NNN $ 153,325.15 February 1, 2015 – January 31, 2016 126,715 SF x $1.27 SF/NNN $ 160,928.05 February 1, 2016 – January 31, 2017 126,715 SF x $1.35 SF/NNN $ 171,065.25 February 1, 2017 – January 31, 2018 126,715 SF x $1.38 SF/NNN $ 174,866.70 February 1, 2018 – January 31, 2019 126,715 SF x $1.42 SF/NNN $ 179,935.30 February 1, 2019 – January 31, 2020 126,715 SF x $1.46 SF/NNN $ 185,003.90 February 1, 2020 – January 31, 2021 126,715 SF x $1.50 SF/NNN $ 190,072.50 February 1, 2021 – January 31, 2022 126,715 SF x $1.55 SF/NNN $ 196,408.25 February 1, 2022 – January 31, 2023 126,715 SF x $1.60 SF/NNN $ 202,774.00 February 1, 2023 – January 31, 2024 126,715 SF x $1.65 SF/NNN $ 209,079.75 February 1, 2024 – January 31, 2025 126,715 SF x $1.70 SF/NNN $ 215.415.50 February 1, 2025 – January 31, 2026 126,715 SF x $1.75 SF/NNN $ 221,751.25 February 1, 2026 – January 31, 2027 126,715 SF x $1.80 SF/NNN $ 228,087.00 February 1, 2027 – January 31, 2028 126,715 SF x $1.85 SF/NNN $ 234,422,75 February 1, 2028 – January 31, 2029 126,715 SF x $1.90 SF/NNN $ 240,758.50 February 1, 2029 – December 31, 2029 126,715 SF x $1.95 SF/NNN $ 247,094.25 38. Accrual of Interest on Outstanding Amount. From and after the date hereof, the Outstanding Amount shall accrue interest and fees each as set forth in the Lease, as amended hereby. Any interest or fees so accrued shall be added to and included in the Outstanding Amount for all purposes hereunder.
Adjustment of Base Rent. Base Rent for the month of August, 2005, shall be payable in advance in the amount of Seventy-Nine Thousand Three Hundred Ten and 88/100 Dollars ($79,310.88) (being calculated by applying 10.25% for part of the month and applying 12.23% for the other part of the month). Beginning on September 1, 2005, and continuing through December, 2005, Base Rent shall be payable in advance in equal, consecutive monthly installments of Eighty Six Thousand, Five Hundred Forty-Two and 33/100 Dollars ($86,542.33) on or before the tenth (10th) day of each calendar month. Commencing on January 1, 2006, and on each January 1 thereafter during the term of this Lease, the Base Rent shall be increased by two and one half percent (2.5%) per annum of the previous year's Base Rent. If the previous year's Base Rent is for a partial year, Base Rent shall be adjusted as if it were a full year. Notwithstanding anything contained herein to the contrary, with respect to the adjustment of Base Rent for calendar year 2006, the increased Base Rent for calendar year 2006 will be calculated as if the annual rental rate of One Million, Thirty-Eight Thousand, Five Hundred Seven and 96/00 Dollars ($1,038,507.96) applied to the entire calendar year 2005. Notwithstanding anything contained herein to the contrary, the parties hereto acknowledge and agree that all calculations of Base Rent, including approximately seven and one-half (7 1/2) months of Base Rent for the calendar year 2005, have been made by multiplying the Initial Purchase Price by 10.25% per annum. In the event the Initial Purchase Price is adjusted and increased by the Purchase Price Adjustment, then all calculations of Base Rent shall be adjusted accordingly (including the Base Rent for calendar year 2005, if applicable) before adding and calculating the 2.5% annual increases as set forth above.
Adjustment of Base Rent. Beginning on the first day of the 13th full calendar month after the Lease Commencement Date and on each anniversary date thereafter during the Lease Term (“Adjustment Date”), Base Rent shall increase automatically and without notice as provided for in the Basic Lease Provisions. Tenant thereafter shall pay the monthly installments of Base Rent due under this Lease at the increased rate until the next Adjustment Date.
Adjustment of Base Rent. Commencing on January 1, 2007, and on each January 1 thereafter (each an "Adjustment Date") during the term of this Lease, the Base Rent shall be increased, if any, by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum of the prior year's Base Rent, or (B) the percentage by which the CPI in effect on the Adjustment Date shall have increased over the CPI figure in effect on the then just previous Adjustment Date. If the previous year's Base Rent is for a partial year, it shall be annualized. In the event the Total Development Costs are adjusted and increased by the Total Development Costs Adjustment, then all calculations of Base Rent shall be adjusted accordingly.
Adjustment of Base Rent. On the first anniversary of the 2007 Space Commencement Date and on each subsequent anniversary of the 2007 Space Commencement Date during the Lease Term (each such anniversary date is referred to as an “Adjustment Date”), the Base Rent per square foot of Rentable Area of the Premises shall be increased by an amount equal to three percent (3%) of the Base Rent, expressed as an amount per square foot of Rentable Area, payable by Tenant hereunder during the twelve month period immediately preceding such Anniversary Date. Landlord shall notify Tenant of the adjusted Base Rent prior to each Anniversary Date and Tenant shall pay the increased Base Rent in equal monthly installments on the first day of each calendar month beginning on such Anniversary Date and continuing until the Base Rent is further increased hereunder. Said adjustments of the Base Rent shall not limit any subsequent rent adjustments pursuant to Article 5 hereof.
Adjustment of Base Rent. Section 3.2 of the Lease is amended in its entirety to read as follows: The Building Base Rent shall be adjusted on the first day of the third (3rd) Lease Year and on the first day of each second Lease Year thereafter (i.e., the fifth (5th), seventh (7th), and ninth (9th) Lease Year; each such day an “Adjustment Date”), in accordance with the provisions of this Section 3.2 to reflect increases in the cost of living, as measured by the United States Department of Labor’s Bureau of Labor Statistics, Consumer Price Index, Unadjusted, All Urban Consumers, All Items, U.S. City Average (1982-84 = 100), or the successor of that index (the “CPI”). If the CPI ceases to be published, Landlord shall select a substitute index which Landlord reasonably anticipates will yield a result substantially similar to the result produced by the CPI for purposes of the adjustment to be made pursuant to this Section. On each Adjustment Date, Landlord shall compare the CPI figure published just prior to the applicable Adjustment Date (the “Current CPI”) to the CPI figure published just prior to the Commencement Date (the “Comparative CPI”). If on any Adjustment Date, the Current CPI exceeds the Comparative CPI, then beginning on the applicable Adjustment Date, the monthly Building Base Rent shall be increased to equal an amount determined by multiplying the initial Building Base Rent by a fraction, the numerator of which is the Current CPI and the denominator of which is the Comparative CPI. In no event, however, shall the Building Base Rent payable for any month of the Lease Term be less than the Building Base Rent payable for the immediately preceding calendar month. Landlord shall notify Tenant of any adjustment to the Building Base Rent made by reason of this Section by the applicable Adjustment Date (or as soon thereafter as is reasonably practical), and thereafter Tenant shall pay the Building Base Rent, as so adjusted, until the next Adjustment Date. If Landlord notifies Tenant of a change in the Building Base Rent after an Adjustment Date, Tenant shall pay the difference between the Building Base Rent actually paid prior to such notice and the Building Base Rent actually due on or after such Adjustment Date, together with Tenant’s next payment of Adjusted Rent. The Parking Base Rent shall increase to $5,500.00 per month effective January 1, 2007, to $6,050 effective January 1, 2012 (if Tenant exercises the first renewal option) and to $6,655.00 effective January 1, 2017 (if...
Adjustment of Base Rent. Commencing on the first January 1 subsequent to the Commencement Date, and on each January 1 thereafter (each an "Adjustment Date") during the Term, the applicable Cost Component of the Base Rent shall be increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum of the prior year's Cost Component, or (B) the percentage by which the Consumer Price Index on the Adjustment Date shall have increased over the Consumer Price Index figure in effect on the then just previous Adjustment Date. If the previous year's Cost Component of Base Rent is for a partial year, such Cost Component shall be annualized for purposes of this adjustment.
Adjustment of Base Rent. 12 ARTICLE 5.......................................................................................................12
