Adjustment to Basic Rent Sample Clauses

Adjustment to Basic Rent. The parties acknowledge that the Cost of reusable Tenant Improvements has now exceeded $1,722,072.00, being the total amount of the reusable Tenant Improvements allowance described in Sections 3.6.1 and 3.6.2 of the Lease. The parties have agreed, pursuant to Section 3.6.2 of the Lease, that the first $156,552.00 of the excess Cost of reusable Tenant Improvements over the basic reusable Tenant Improvements allowance of $1,565,520.00 is payable from LESSEE to LESSOR by means of adjustment to the Basic Rent for Period 1 set forth in Section 4.1 of the Lease, such adjustment being contemplated by Section 3.6.3
Sample 1
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Adjustment to Basic Rent. The parties acknowledge and agree that the Basic Rent set forth in Lease Section 1.1 incorporates the parties' best estimate, based upon the Preliminary Plans and Specifications and as of the date of this Lease, of the cost of completion of the Leasehold Improvements, and that such estimate may differ from the actual cost calculated with reference to the Final Plans and Specifications or due to changes made during construction of the Leasehold Improvements. If the actual cost of constructing the Leasehold Improvements exceeds such estimate then Landlord shall have the right: (i) to require Tenant to pay any increase in the actual cost of Leasehold Improvements over the parties' original estimate in one or more installments on or before the Commencement Date, or (ii) to adjust the Basic Rent to reflect its recalculation of the cost to complete the Leasehold Improvements based upon the Final Plans and Specifications and/or due to such changes. Landlord shall notify Tenant of any such cost or adjustment in the Basic Rent when Landlord notifies Tenant of Landlord's approval of the Final Plans and Specifications or when changes to the Leasehold Improvements are requested. Tenant shall have five (5) days (not counting any intervening Saturday or Sunday) to approve or disapprove such cost or Landlord's adjustment to Basic Rent, if any, and shall be deemed to have accepted and approved the cost or adjustment to Basic Rent, if any, unless Tenant shall have notified Landlord to the contrary, in writing, in accordance with Section 26 of this Lease, within such five (5) day period. If Tenant fails to accept Landlord's adjustment to Basic Rent due to changes made during preparation of the Final Plans and Specifications within such five (5) day period then Landlord shall, at its sole option and discretion, have the right to declare this Agreement null and void and of no further force and effect. If Tenant fails to accept the Landlord's adjustment to Basic Rent due to changes made during construction within such five (5) day period, then Landlord shall not be obligated to construct such change. If, however, Tenant accepts the increased cost or adjustment to Basic Rent, if any, whether by express notice of acceptance given within such five (5) day period or by failure to reject the same within such five (5) day period, then Tenant agrees to execute and acknowledge such instruments confirming such acceptance as Landlord may from time to time require. Upon Tenant's acceptan...
Sample 1
Adjustment to Basic Rent. Section 4.2 of the General Terms and Conditions to Lease is deleted in its entirety and the following provision is substituted:
Sample 1
Adjustment to Basic Rent. 5.1. Landlord's contractor, Nottingham Construction Company, has estimated that the total cost to complete the Leasehold Improvements, based upon the Preliminary Plans and Specifications, and the Landlord's contractor's bid estimate based thereon, is $189,269.88. The parties acknowledge and agree that the Basic Rent set forth in Lease Section 1.1 incorporates Landlord's allowance in the amount of $120,000.00 toward the cost of completion of the Leasehold Improvements (the "Allowance"). Subject to the provisions of Subsection 5.2 below Tenant agrees to pay the difference between such cost and the Allowance in one or more installments on or before the Commencement Date.
Sample 1

Related to Adjustment to Basic Rent

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, (“Code”)), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers (“Effective Rate”) is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • 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.

  • Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.

  • Monthly Rent The rent payable pursuant to Paragraph 5.A., as adjusted from time to time pursuant to the terms of this Lease.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, a monthly installment of $3,284.00. Lessee shall also pay, as additional rent, all such other sums of money as shall become due from and payable by Lessee to Lessor under this Lease (Base Rental, any adjustment thereto pursuant to Section 4 hereof, and all such other sums of money due from and payable by Lessee pursuant to this Lease are sometimes hereinafter collectively called "rent"), for the nonpayment of which Lessor shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rental. The Base Rental, together with any adjustment or increase thereto then in effect, shall be due and payable in advance in twelve (12) equal installments on the first (lst) day of each calendar month during the term of this Lease, and Lessee hereby agrees so to pay such Base Rental and any adjustment or increase thereto to Lessor at Lessor's address provided herein (or such other address as may be designated by Lessor in writing from time to time) monthly, in advance, and without demand. If the term of this Lease commences on a day other than the first (lst) day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, and the installment or installments so prorated shall be paid in advance.

  • Additional Rent In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

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