Adjustment of Rent. Lessee and Lessor agree that the payments and allocations of Basic Rent, Stipulated Loss Values, Stipulated Loss Amounts, Termination Values and Termination Amount percentages and the Early Purchase Price shall be adjusted to the extent provided in Section 2.6 of the Participation Agreement.
Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or floor area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph 2.
2.2 If upon a survey of the Premises agreed between the Parties to be undertaken and completed no later than 4 weeks from the commencement of the Term, or such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/floor area ascertained by such survey (hereinafter referred to as the “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”), and the result of such survey is accepted bv the Landlord, the following shall apply:
(a) If the surveyed floor area is within 5% variance of the estimated land/floor area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial
(b) If the surveyed land/floor area is either more than or less than the estimated land/floor area by more than 5% of the estimated land/floor area, then there shall be a corresponding adjustment in the Rent which adjustment shall be determined by the Collector of Land Revenue and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area as compared with the estimated land/floor area.
Adjustment of Rent. 2 Section 3.5
Adjustment of Rent. If applicable, sums paid by the Tenant under this Section 3 shall be subject to adjustment to reflect any partial billing periods encountered at the commencement or termination of this Lease.
Adjustment of Rent. If a portion of the Premises is taken and Landlord does not elect to terminate this Lease pursuant to the preceding paragraph, then Rent shall be equitably adjusted as of the date title vests in the authority and this Lease shall otherwise continue in full force and effect.
Adjustment of Rent. (a) If, during any calendar year following the Base Year, the Operating Expenses (defined below) per square foot of rentable area in the Premises (obtained by dividing the total annual Operating Expenses by the then total net rentable area of the Building (which, however, shall not be less than the Building Rentable Area (defined below)) exceeds the Expense Stop per square foot of rentable area in the Premises (determined by dividing the Expense Stop by the then total net rentable area of the Building (which shall not be less than the Building Rentable Area)), Tenant shall pay to Landlord in accordance with paragraph 8(b) below and as additional Rent, an amount equal to the annual Operating Expenses per rentable square foot in excess of the Expense Stop per rentable square foot multiplied by the number of rentable square feet stated in paragraph 1(i) above. Any payment made with respect to the calendar year in which this Lease commences or terminates that is a partial year shall be prorated. Landlord may at its option make reasonable monthly or other periodic charges based upon the estimated increase in annual Operating Expenses. As of the Commencement Date, the total net rentable area of the Building is 29,600 square feet (the “Building Rentable Area”). On or before July 1 of each year while this Lease is in effect, Landlord shall provide to Tenant a written good faith estimate of such additional Rent to be paid by Tenant for the following calendar year (or portion thereof). During each calendar year or partial calendar year after the Base Year, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Fixed Base Rent, an amount equal to such estimated additional Rent for such calendar year or part thereof divided by the number of months therein. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Expenses are available for each calendar year.
Adjustment of Rent. In the event of a partial taking that does not result in a termination of this Lease as to the entire Premises, Base Rent and Additional Rent shall be equitably adjusted in relation to the portions of the Premises and Building taken or rendered unusable by such taking.
Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or floor area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph 2.
Adjustment of Rent. If a casualty renders all or part of the Premises untenantable, Rent shall proportionately xxxxx commencing on the date of the casualty and ending when the Premises are delivered to Tenant with Landlord’s restoration obligation substantially complete. The extent of the abatement shall be based upon the portion of the Premises rendered untenantable, inaccessible or unfit for use in a reasonable business manner for the purposes stated in this Lease.
Adjustment of Rent. If a portion of the Premises is taken and Landlord does not elect to terminate this Lease pursuant to Section 18.A. hereof, then Base Rent and Additional Rent payable pursuant to Section 5 hereof shall be equitably adjusted as of the date title vests in the authority and this Lease shall otherwise continue in full force and effect.
