Common use of Annual Base Rent Clause in Contracts

Annual Base Rent. Tenant shall pay to Landlord, in such currency of the United States of America, as at the time of payment shall be legal tender for payment of private and public debts, annual base rent (the "Annual Base Rent"). The Annual Base Rent shall be in the amount of Two Million Seven Hundred Thousand Seven Hundred Eighty-Seven Dollars ($2,700,787) per annum for the first (1st) Lease Year; and commencing in the second (2nd) Lease Year and continuing through the remainder of the Initial Term, the Annual Base Rent for each applicable Lease Year shall be an amount equal to the lesser of (i) the Annual Base Rent for the immediately preceding Lease Year increased by an amount equal the Rental Adjustment applicable to such Lease Year as set forth below, and (ii) the product obtained by multiplying the Annual Base Rent for the immediately preceding Lease Year by the product of five (5) multiplied by the applicable Consumer Price Adjustment Factor. The Annual Base Rent payable in each Lease Year of the first Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for the last Lease Year of the Initial Term. The Annual Base Rent payable in each Lease Year of the second Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for last Lease Year of the first Extension Term. The Rental Adjustment for each Lease Year commencing in the second Lease Year through the remainder of the Initial Term shall be as follows: Lease Year Rental Adjustment 2 $48,614 3 $46,740 4 $44,738 5 $42,613 6 $40,369 7 $38,010 8 $35,542 9 $32,972 10 $30,304 11 $30,607 12 $30,913 13 $31,222 14 $31,534 15 $31,850

Annual Base Rent. 5.1. Commencing on the Extended Term Commencement Date and continuing thereafter throughout the remainder of the Term of the Lease, as hereby amended, Tenant shall pay Landlord annual Base Rent with respect to Landlordthe Retained Premises for each such year (or portion thereof) as follows: Year Base Rental Rate Per Square Foot of GRA in the Retained Premises 1 (commencing on November 1, 2004) $25.50 2 (commencing on November 1, 2005) $26.27 3 (commencing on November 1, 2006) $27.05 4 (commencing on November 1, 2007) $27.86 In addition, Tenant shall pay Landlord Base Rent with respect to the Retained Premises for the period October 6, 2004 through October 31, 2004 in such currency the sum of the United States of AmericaTwenty-Three Thousand Four Hundred Seventy-Five and 90/100 Dollars ($23,475.90), as at the time of payment which sum shall be legal tender for payment of private due and public debtspayable on or before October 1, annual base rent (the "2004. Annual Base Rent")Rent with respect to any partial year shall be pro rated, based upon the actual number of months. The Annual Base Rent shall be payable in equal monthly installments, at such times, at such place, and in such manner as is otherwise provided in the amount Lease. Notwithstanding the above, Base Rent with respect to the Retained Premises shall be abated and Tenant shall have no obligation to pay the same, with respect to the first one and one-half months of the Extended Term (i.e., the first $41,985.75 of Base Rent due hereunder with respect to the Retained Premises for the Extended Term shall be abated). 5.2. Commencing on the Extended Term Commencement Date and continuing thereafter through and including the Holdover Expiration Date, Tenant shall pay Landlord Annual Base Rent with respect to the Returned Premises in the sum of Thirty-Two Million Seven Hundred Thousand Seven Hundred Eighty-Seven and 08/100 Dollars ($2,700,78732.08) per annum for square foot of GRA in the Returned Premises, in two (2) equal monthly installments of Twenty Thousand Two Hundred Twenty-Six and 44/100 Dollars ($20,226.44) each, with the first (1st) Lease Year; such installment due on October 6, 2004 and commencing in with the second (2nd) Lease Year and continuing through the remainder of the Initial Termsuch installment due on November 6, the Annual Base Rent for each applicable Lease Year shall be an amount equal to the lesser of (i) the Annual Base Rent for the immediately preceding Lease Year increased by an amount equal the Rental Adjustment applicable to such Lease Year as set forth below, and (ii) the product obtained by multiplying the Annual Base Rent for the immediately preceding Lease Year by the product of five (5) multiplied by the applicable Consumer Price Adjustment Factor. The Annual Base Rent payable in each Lease Year of the first Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for the last Lease Year of the Initial Term. The Annual Base Rent payable in each Lease Year of the second Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for last Lease Year of the first Extension Term. The Rental Adjustment for each Lease Year commencing in the second Lease Year through the remainder of the Initial Term shall be as follows: Lease Year Rental Adjustment 2 $48,614 3 $46,740 4 $44,738 5 $42,613 6 $40,369 7 $38,010 8 $35,542 9 $32,972 10 $30,304 11 $30,607 12 $30,913 13 $31,222 14 $31,534 15 $31,8502004.

Annual Base Rent. Tenant A. Lessee covenants and agrees to pay Lessor without demand, as Annual base Rent, for 1,232.00 square feet, for each year of the initial term the sum of Twenty-One Thousand One Hundred Forty-One and 12/100 ($21,141.12) per year. The total lease payment including Common Area Charges and real estate taxes as set forth in Paragraph 3B below shall pay to Landlordbe Twenty-Three Thousand Five Hundred Fifty-Two and 16/100 Dollars ($23,552.16) per year, until adjusted as provided in Section 3. One-twelfth (1/12th) of the Annual Base Rent and Common area Charges and real estate taxes shall be paid each consecutive month, each due in advance without deduction or setoff, in such currency legal tender of the United States of America, as on the first day of each and every calendar month during said term at the offices of Lessor or at such other place as Lessor may from time of payment to time in writing designate. The total amount to be paid per month for the first lease year shall be legal tender for payment of private $1,960.18 per month. The rents will be adjusted yearly as provided in paragraph 3. B. The extended terms (renewal periods) shall be upon the same conditions as provided in this Lease and public debts, the annual base rent (during the "Annual Base Rent"). The Annual Base Rent shall be in the amount of Two Million Seven Hundred Thousand Seven Hundred Eighty-Seven Dollars ($2,700,787) per annum for the first (1st) Lease Year; and commencing in the second (2nd) Lease Year and continuing through the remainder of the Initial Term, the Annual Base Rent for each applicable Lease Year shall be an amount equal to the lesser of (i) the Annual Base Rent for the immediately preceding Lease Year increased by an amount equal the Rental Adjustment applicable to such Lease Year as set forth below, and (ii) the product obtained by multiplying the Annual Base Rent for the immediately preceding Lease Year by the product of five (5) multiplied by the applicable Consumer Price Adjustment Factor. The Annual Base Rent payable in each Lease Year of the first Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for the last Lease Year of the Initial Term. The Annual Base Rent payable in each Lease Year of the second Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for last Lease Year of the first Extension Term. The Rental Adjustment for each Lease Year commencing in the second Lease Year through the remainder of the Initial Term extended terms shall be as follows: Nineteen and 90/100 Dollars ($19.90) per square foot for an annual base rental of $24,516.80 during the first renewal term; and Twenty-Three and 08/100 Dollars ($23.08) per square foot for an annual base rental of $28,434.52) during the second renewal term. C. The Base Rent and any or all other rent to be paid hereunder and any or all other payments and/or charges hereunder not paid by Lessee when due shall bear interest from the date when due at an annual rate equal to twelve percent (12%). Rental adjustments, other rent and/or other payments or charges which become due from Lessee shall be regarded as additional base rent hereunder. The obligation of Lessee to pay rent under this Lease Year Rental Adjustment 2 $48,614 3 $46,740 4 $44,738 5 $42,613 6 $40,369 7 $38,010 8 $35,542 9 $32,972 10 $30,304 11 $30,607 12 $30,913 13 $31,222 14 $31,534 15 $31,850is an independent covenant, and no act or circumstance whatsoever, whether such act or circumstance constitutes a breach of covenant by Lessor, shall release or diminish Lessee's obligations to pay rent hereunder. D. Annual Base rent during the Option Periods, as provided in 2B has been agreed upon by the Lessor and Lessee, payable as provided in Section 3(A) hereof). E. In no event shall Annual base Rent be decreased by reason of the application of the following formula.

Annual Base Rent. Beginning on the Commencement Date, Tenant agrees to pay Landlord, without prior demand therefor, and without set-off or deduction, a yearly base minimum rent in the amount of Twenty-six Thousand Four Hundred Eighteen and No/100 Dollars ($26,418.00), payable in monthly installments, each in the amount of Two Thousand Two Hundred One and 50/100 Dollars ($2,201.50) plus an annual parking charge in an amount pursuant to the paragraph below (collectively, the base minimum rent and parking charge shall be defined herein as the “Base Rent”). In the event the Commencement Date falls on a day other than the first day of a calendar month, then the monthly installment of Base Rent shall be prorated for such month. In the event this Lease expires or is terminated on a day that is other than the last day of a calendar month, then the Base Rent for the month in which the Term expires or is terminated shall be prorated. Tenant shall pay the Base Rent to Landlord at Landlord’s address set forth in Section 17.5 of this Lease, or at such other place as Landlord may from time to time designate to Tenant in writing (in accordance with Section 17.5 of this Lease), in such currency of the United States of America, as funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America. Beginning on the Commencement Date, Tenant shall also pay to Landlord an annual parking charge that shall be part of the Base Rent and public debtsinitially shall be equal to the product of One Hundred and No/100 Dollars ($100.00) multiplied by the number of parking spaces which are allocated for Tenant’s use under Section 2.2 of the REA (initially, annual base rent 120 spaces), being initially Twelve Thousand and No/100 Dollars ($12,000.00) per year. In the "Annual Base Rent"). The Annual event Tenant should demand the LTACH Exclusive Parking Rights, as provided for in the REA, then from and after the date that Tenant begins to have such exclusive parking, the amount of the parking charge that shall be part of the Base Rent shall be increased to One Hundred Twenty-Five Percent (125%) of the parking charge then in effect at the time that Tenant begins to have such exclusive parking, with the amount of Two Million Seven Hundred Thousand Seven Hundred Eighty-Seven Dollars ($2,700,787) per annum prorated for any partial calendar year. Both the first (1st) Lease Year; minimum rent and commencing in the second (2nd) Lease Year and continuing through parking charge that comprise the remainder of the Initial Term, the Annual Base Rent for each applicable Lease Year shall be an amount equal to the lesser of (i) the Annual Base Rent for the immediately preceding Lease Year increased by an amount equal the Rental Adjustment applicable to such Lease Year as set forth below, and (ii) the product obtained by multiplying the Annual Base Rent for the immediately preceding Lease Year by the product of five (5) multiplied by the applicable Consumer Price Adjustment Factor. The Annual Base Rent payable in each Lease Year of the first Extension Term shall be an amount equal to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for the last Lease Year of the Initial Term. The Annual Base Rent payable in each Lease Year of the second Extension Term shall be an amount equal subject to the fair market value thereof as determined jointly by Landlord and Tenant; provided, however, that such Annual Base Rent shall be not less than the Annual Base Rent payable for last Lease Year of the first Extension Term. The Rental Adjustment for each Lease Year commencing in the second Lease Year through the remainder of the Initial Term shall be as follows: Lease Year Rental Adjustment 2 $48,614 3 $46,740 4 $44,738 5 $42,613 6 $40,369 7 $38,010 8 $35,542 9 $32,972 10 $30,304 11 $30,607 12 $30,913 13 $31,222 14 $31,534 15 $31,850adjustment pursuant to Section 3.5 below.