Base Rent Abatement. The Base Rent Abatement set forth in Section 7.5 of the Lease shall not apply to the Extension Term. Provided that Tenant is not in monetary default (without reference to any notice or cure periods) or material non-monetary default (beyond applicable notice and cure periods) under the Lease, Landlord agrees to xxxxx Tenant’s obligation to pay Base Rent for the Premises for the first two (2) months of the Extension Term (the “Extension Term Base Rent Abatement”). The period of time in which Tenant is entitled to any Extension Term Base Rent Abatement shall be referred to herein as the “Extension Term Base Rent Abatement Period.” During the Extension Term Base Rent Abatement Period, Tenant will remain responsible for the payment of the Property Management Fee (which shall be calculated as if there were no Extension Term Base Rent Abatement and Tenant were paying Base Rent of $44,484.00 per month), utilities, Tenant’s Adjusted Share of Operating Expenses and all Additional Rent attributable to the Premises. Tenant acknowledges and agrees that the foregoing Extension Term Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Amendment, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under the Lease. If Tenant shall be in monetary default (without reference to any notice or cure periods) or material non-monetary default (beyond applicable notice and cure periods) under the Lease, then Tenant’s right to receive the Extension Term Base Rent Abatement for the Extension Term Base Rent Abatement Period shall automatically terminate and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The Extension Term Base Rent Abatement shall be personal to the original Tenant and any Tenant’s Affiliate that assumes the original Tenant’s interest in the Lease pursuant to an Exempt Transfer and shall only apply to the extent that the original Tenant or a Tenant’s Affiliate that assumes the original Tenant’s interest in the Lease pursuant to an Exempt Transfer (and not any assignee, or any sublessee or other transferee of the original Tenant’s interest in this Lease pursuant to a Transfer that is not an Exempt Transfer) is the Tenant under this Lease during the Extension Term Base Rent Abatement Period.
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. 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). Xxxxxx 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 in this § 1.5, commencing with the first full calendar month following the Commencement Date, Tenant’s Monthly Installment of Base Rent shall be abated for the first (1st) month of the Term (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 it the initial Term (without limiting Landlord’s other remedies).
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. Base Rent is currently $62,000 per month, which shall remain in force through October 31, 2011. Base Rent during the Extension Period shall be as follows: November 1, 2011 through October 31, 2012: $48,440 per month November 1, 2012 through October 31, 2013: $49,893 per month November 1, 2013 through January 31, 2014: $51,390 per month November 1, 2014 through April 30, 2015: $52,932 per month Notwithstanding the foregoing, provided that no Event of Default is then outstanding (which shall include without limitation the absence of defaults under this Amendment), Base Rent for each of the months of November 2011, May 2012, November 2012, and November 2013 shall be fully abated; provided further that if an Event of Default is then outstanding, such full month of abatement shall be given to Lessee at such time as Lessee cures all Events of Default.
Base Rent Abatement. Base Rent payable for the first two (2) full months of the Original Term (i.e., for September, 1994 and October, 1994) at the rate of Twenty Thousand Four Hundred Fifty-One and 60/100ths Dollars ($20,451.60) per month shall be fully abated and waived.
Base Rent Abatement. Landlord hereby agrees to xxxxx Tenant’s payment of Base Rent only during the first five (5) months of the Lease Term (e.g. during the months of April 2007 — August, 2007, referred to as the “Base Rent Abatement Period”). For purposes of this Lease, the Base Rent Commencement Date shall be deemed to be September 1, 2007. Notwithstanding the foregoing, Tenant hereby agrees to pay Tenant’s Proportionate Share of Operating Expenses as set forth in Article III below during the entire Term of the Lease, including the Base Rent Abatement Period described above. The entire amount of Base Rent otherwise due and payable during the Base Rent Abatement Period shall become immediately due and payable upon the occurrence of an event of material default by Tenant under the Lease.
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.
