Base Rent Abatement Sample Clauses
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Base Rent Abatement. Provided that no event of default beyond any applicable notice and cure period is occurring during the four (4) month period commencing on the first (1st) day of the first (1st) full calendar month following the Expansion Commencement Date and ending on the last day of the fourth (4th) full calendar month following the Expansion Commencement Date (the “Expansion Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Expansion Premises during such Expansion Base Rent Abatement Period (the “Expansion Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Expansion Base Rent Abatement equals $1,303,869.00 (i.e., $325,967.25 per month). Tenant acknowledges and agrees that during such Expansion Base Rent Abatement Period, such abatement of Base Rent for the Expansion Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of the Lease, as amended, which increases shall be calculated without regard to such Expansion Base Rent Abatement. Additionally, Tenant shall be obligated to pay all Base Rent and Additional Rent for the Existing Premises (subject to the terms of the Lease), and all Additional Rent for the Expansion Premises, during the Expansion Base Rent Abatement Period. Tenant acknowledges and agrees that the foregoing Expansion Base Rent Abatement has been granted to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under the Lease, as amended. If Tenant shall be in economic or material non-economic default under the Lease, as amended, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to the Lease, as amended, or if the Lease, as amended, is terminated for any reason other than Landlord’s breach of the Lease, as amended, casualty or condemnation, then the dollar amount of the unapplied portion of the Expansion Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the Expansion Premises in full. The foregoing Expansion Base Rent Abatement right set forth in this Section 5.2.2 shall be personal to the ...
Base Rent Abatement. Provided that Tenant is not then in default of the Lease (as hereby amended), then during the initial four (4) full calendar months of the following the Existing Premises Recommencement Date (the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals One Million Three Hundred Eight Thousand Seven Hundred Fourteen and 80/100 Dollars ($1,308,714.80) (i.e., $327,178.70 per month). ▇▇▇▇▇▇ acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Third Amendment, and for agreeing to pay the Rent and perform the terms and conditions otherwise required under the Lease (as hereby amended). If Tenant shall be in default under the Lease (as hereby amended) and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to the Lease (as hereby amended), or if the Lease (as hereby amended) shall terminate other than as a result of a default by Landlord or a casualty or condemnation event, then the dollar amount of the unapplied portion of the Base Rent Abatement as of such default or termination, as applicable, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Second Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Base Rent Abatement. So long as no Default by Tenant has occurred, Tenant shall not be required to pay Base Rent for the first (I st) three (3) months following the First Amendment Premises Rent Commencement Date (such period, the “First Amendment Premises Free Rent Period”); provided, however, that the total amount of Base Rent abated during the First Amendment Premises Free Rent Period shall not exceed Sixty-Four Thousand Two Hundred Forty-Two Dollars ($64,242.00) (the “Free Rent Cap”). During the First Amendment Premises Free Rent Period, Tenant shall continue to be responsible for the payment of all of Tenant’s other Rent obligations under the Lease with respect to the First Amendment Premises, including (without limitation) all Additional Rent such as Operating Expenses, the Property Management Fee, and costs of utilities. Upon the occurrence of any Default, the First Amendment Premises Free Rent Period shall immediately expire, and Tenant shall no longer be entitled to any further abatement of Base Rent pursuant to this Section.
Base Rent Abatement. Notwithstanding anything to the contrary ------------------- contained in Section 3.1, Landlord hereby waives Tenant's obligation to pay Base ----------- Rent for [*] rentable square feet of the initial Premises (the "Rent Abatement Space") for the first [*] ([*]) months after the Lease Commencement Date (the "Abatement Period"); provided, however, that if at any time during the Abatement Period (i) Tenant commences to utilize any portion of the Rent Abatement Space for installation or operation of Customer or Tenant's telecommunications equipment, or (ii) Landlord issues a notice to Tenant respecting a default on the part of Tenant which default is not cured within the applicable grace period, if any, Landlord's agreement to waive payment of Base Rent shall (a) in the event of item (i) above, be immediately revoked without further notice to Tenant and the rights of Tenant pursuant to this Section 3.2 shall be null and ----------- void with respect to the portion of the Rent Abatement Space from which Tenant has commenced business operations, and (b) in the event of item (ii) above, be completely and immediately revoked without further notice to Tenant and the rights of Tenant pursuant to this Section 3.2 shall be null and void. In any ----------- such notice given by Landlord, Landlord shall have the right to demand any and all Base Rent which would have been due and payable in accordance with the Lease absent the waiver contained in this Section 3.2. Notwithstanding anything to ----------- the contrary contained in this Section 3.2, Tenant shall be required to make all ----------- payments of Direct Expenses and Additional Rent during the Abatement Period and throughout the Lease Term. *CONFIDENTIAL TREATMENT REQUESTED CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
Base Rent Abatement. Notwithstanding anything to the contrary in this § 1.5.3, commencing with the first full calendar month following the Commencement Date, Tenant’s Monthly Installment of Base Rent shall be abated for a period of two (2) months (the “Abatement Period”). If Tenant shall default under the Lease and fail to cure within the time permitted for cure thereunder, while the Abatement Period is still in effect, the Abatement Period shall thereupon terminate, and Tenant shall commence paying the Base Rent under the Lease. In addition, if Tenant shall default under the Lease at any time and fail to cure within the time permitted for cure thereunder, Tenant shall upon demand pay Landlord the amount of Base Rent theretofore abated, multiplied by a fraction, the numerator of which is the number of months then remaining in the initial Term at the time of the default, and the denominator of which is the total number of months in the initial Term (without limiting Landlord’s other remedies).
Base Rent Abatement. In the event of repair, reconstruction and restoration by or through Landlord as herein provided, the Base Rent payable under this Lease shall be abated proportionately to the degree to which Tenant’s use of the Premises is materially impaired during the period of such repair, reconstruction or restoration. Tenant shall not be entitled to any compensation or damages for loss of the use of the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration, nor shall Tenant be entitled to any insurance proceeds, including those in excess of the amount required by Landlord for such repair, reconstruction or restoration. Tenant shall not be released from any of its obligations under this Lease due to damage or destruction of the Building and/or the Premises except to the extent and upon the conditions expressly stated in this Section 17.
Base Rent Abatement. Notwithstanding anything in Section 3(a) above to the contrary, so long as Tenant is not in Default under any term of the Lease (as amended hereby), Tenant shall be entitled to an abatement of (i) the full amount of Base Rent for September and October, 2013 and (ii) fifty percent (50%) of the Base Rent for November, 2013 (the “Abatement Period”). The total amount of Base Rent to be abated during the Abatement Period is referred to herein as the “Abated Rent”. If Tenant is in Default at any time during the Term (including the Substitution Term), (i) at Landlord’s option, all Abated Rent credited to Tenant prior to the occurrence of the Default shall become due and payable to Landlord; and (ii) if the Default occurs prior to the expiration of the Abatement Period, there shall be no further abatement of Base Rent pursuant to this Section 3(b). No such recapture by Landlord of the Abated Rent pursuant to clause (i) above shall constitute a waiver of any Default of Tenant or any election of remedies by Landlord.
Base Rent Abatement. Notwithstanding anything to the contrary contained in this Lease, but provided Tenant is not in Default hereunder, Landlord hereby grants Tenant an abatement of the Base Rent payable during the period beginning on the Commencement Date and ending 10 months after the Commencement Date (“Base Rent Abatement”). For the avoidance of doubt, if the Commencement Date occurs on the first day of a month, the Base Rent Abatement will be measured from that date. If the Commencement Date occurs on a day other than the first day of a month, the Base Rent Abatement will be measured from the first day of the following month. Except as provided in the preceding sentences, Tenant shall pay the full amount of Base Rent due in accordance with the provisions of this Lease. The administration rent set forth in Section 5 below shall not be abated and shall be based on the amount of Base Rent that would have been payable but for the Base Rent Abatement. Notwithstanding anything to the contrary in this Section 4(a), the adjustment in the Base Rent as set forth in this Section 4 shall be based on the full and unabated amount of Base Rent payable for the first 12 month period from and after the Commencement Date.
Base Rent Abatement. So long as no monetary or material non-monetary Default (beyond any applicable notice and cure period) by Tenant has occurred after the date of this Amendment, Tenant shall not be required to pay Base Rent (with respect to the entire then-current Premises) for the period commencing on January 1, 2025 and ending on May 31, 2025 (such period, the “Free Rent Period”). During the Free Rent Period, Tenant shall continue to be responsible for the payment of all of Tenant’s other Rent obligations under the Lease, including all Additional Rent with respect to the entire then-current Premises (except as otherwise set forth in Section 4.3) such as Operating Expenses, the Property Management Fee (which shall be calculated as if the Free Rent Period was not in effect), and costs of utilities. Upon the occurrence of any monetary or material non-monetary Default (beyond any applicable notice and cure period), the Free Rent Period shall immediately expire, and Tenant shall no longer be entitled to any further abatement of Base Rent pursuant to this Section. In the event of any Default that results in termination of the Lease, then, as part of the recovery to which Landlord is entitled pursuant to the Lease, and in addition to any other rights or remedies to which Landlord may be entitled pursuant to the Lease (including Article 31 of the Original Lease), at law or in equity, Landlord shall be entitled to the immediate recovery, as of the day immediately prior to such termination of the Lease, of the unamortized amount of Base Rent that Tenant would have paid had the Free Rent Period not been in effect.
Base Rent Abatement. Provided that Tenant is not then in Default of this Lease, then Tenant shall have no obligation to pay the Base Rent otherwise attributable to (i) the portion of the initial Premises commonly known as Suite 500, containing approximately 26,514 rentable square feet of space during the first two (2) full calendar months of the initial Lease Term, (ii) the entire initial Premises during the third (3rd) through seventh (7th) full calendar months of the initial Lease Term, (iii) the Must-Take Premises during the first (1st) through fourth (4th) full calendar months of the initial Lease Term following the Must-Take Premises Lease Commencement Date, and (iv) the initial Premises and the Must-Take Premises during the twenty-fifth (25th) full calendar month of the initial Lease Term. Landlord and Tenant acknowledge that the total amount of the abatement of Base Rent under subsection (i) above equals $353,520.00 (i.e., $176,760.00 per month), the total amount of the abatement of Base Rent under subsection (ii) above equals $1,743,233.35 (i.e., $348,646.67 per month), the total amount of the abatement of Base Rent under subsection (iii) above equals $1,137,944.00 (i.e., $284,486.00 per month), and the total amount of the abatement of Base Rent under subsection (iv) above equals $662,899.83.