Common use of Base Rent Adjustments Clause in Contracts

Base Rent Adjustments. Beginning on June 1, 2003, and on each anniversary of such date during the term of this Sublease (June 1, 2003, and each such anniversary being an "Adjustment Date"), the Base Rent applicable immediately prior to the Adjustment Date shall be increased by the greater of three percent (3%) or the percentage increase, if any, shown by the Consumer Price Index for all Urban Consumers, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published by the United States Department of Labor, Bureau of Labor Statistics, for the month immediately preceding the Adjustment Date as compared with the Index for the month immediately preceding June 1, 2002. Sublessor shall calculate the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%), then the applicable increase for that Adjustment Date shall be five percent (5%). Sublessor shall give written notice of the amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased pursuant to this provision. Sublessor's failure to make the required calculations promptly shall not be considered a breach or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublessee's obligation to pay increased Base Rent. If the Index is changed so that the base year differs from that in effect on June 1, 2002, then the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment of Base Rent payable by Sublessee for each such calendar month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50).

Appears in 1 contract

Samples: Marlton Technologies Inc

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Base Rent Adjustments. Beginning on June 1, 2003, and Base Rent shall be increased on each annual anniversary of such date the first day of the first full month during the term Term of this Sublease Lease (June 1, 2003, and each such anniversary being an "Adjustment DateADJUSTMENT DATE"), ) by multiplying the Base Rent applicable payable immediately prior 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. "CPI ADJUSTMENT PERCENTAGE" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be increased the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" means the "Consumer Price Index-All Urban Consumers-Boston Metropolitan Area, All Items" compiled by the greater of three percent (3%) or the percentage increase, if any, shown by the Consumer Price Index for all Urban Consumers, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with Landlord may reasonably deem appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice of indicating the amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased as adjusted pursuant to this provisionSection, and the method of computation. Sublessor's failure Failure to make the required calculations promptly deliver such notice shall not be considered a breach reduce, abaxx, xaive or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublesseediminish Tenant's obligation to pay increased the adjusted Base Rent. If the Index such notice is changed so that the base year differs from that in effect delivered to Tenant on June 1or after an Adjustment Date, 2002, then the Index Tenant shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used pay to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession Landlord an CONFIDENTIAL - DO NOT COPY amount equal to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment any underpayment of Base Rent payable by Sublessee for each such calendar month will be equal Tenant within 15 days of Landlord's notice to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)Tenant.

Appears in 1 contract

Samples: Lease Agreement (Acusphere Inc)

Base Rent Adjustments. Beginning on June 1, 2003, and Base Rent shall be increased on each annual anniversary of such date the first day of the first full month during the term Term of this Sublease Lease (June 1, 2003, and each such anniversary being an "Adjustment Date"), ) by multiplying the Base Rent applicable payable immediately prior 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. "CPI Adjustment Percentage" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index (as defined below) for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be increased by the greater of three percent (3%) or Index for the percentage increasecalendar month 3 months before the last Adjustment Date or, if anyno prior Base Rent adjustment has been made, shown by 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "Index" means the "Consumer Price Index for all - All Urban ConsumersConsumers - San Diego, California Metropolitan Area, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published Items" compiled by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with reasonably appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as reasonably appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice of indicating the amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased as adjusted pursuant to this provisionSection, and the method of computation. Sublessor's failure Failure to make the required calculations promptly deliver such notice shall not be considered a breach reduce, xxxxx, waive, or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublesseediminish Tenant's obligation to pay increased the adjusted Base Rent. If the Index such notice is changed so that the base year differs from that in effect delivered to Tenant on June 1or after an Adjustment Date, 2002, then the Index Tenant shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used pay to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession Landlord an amount equal to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment any underpayment of Base Rent payable by Sublessee Tenant within 15 days of Landlord's notice to Tenant. Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the "Annual Estimate"), which may be revised by Landlord from time to time during such calendar year. During each month will be of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); 1/12 of Tenant's Share of the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward Annual Estimate Payments for any fractional calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)shall be prorated.

Appears in 1 contract

Samples: Lease Agreement (Cell Genesys Inc)

Base Rent Adjustments. Beginning on June 1, 2003, and Base Rent shall be increased on each annual anniversary of such date the first day of the first full month during the term Term of this Sublease Lease (June 1, 2003, and each such anniversary being 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 or any portion of a calendar year shall be prorated based on the number of days in the respective month or year which fall within the Term. 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 three (3) 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 applicable immediately prior to the Adjustment Date shall be increased by the greater of three percent (3%) or the percentage increase, if any, shown by the Consumer Price Index for all Urban Consumers, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published by the United States Department of Labor, Bureau of Labor Statistics, for the month immediately preceding the Adjustment Date as compared with the Index for the month immediately preceding June 1, 2002. Sublessor shall calculate the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes the statistics on which the amount of the increase Abatement will be basedmeasured from that date. If the increase in Commencement Date occurs on a day other than the first day of a month, the Base Rent so derived for an Adjustment Date exceeds five percent (5%)Abatement will be measured from the first day of the following month, then the applicable increase for that Adjustment Date and Base Rent shall be five percent (5%). Sublessor shall give written notice payable on a prorated basis for the portion of the month in which the Commencement Date occurs. Except as provided in the preceding sentences, Tenant shall pay the full amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased pursuant to this provision. Sublessor's failure to make the required calculations promptly shall not be considered a breach or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublessee's obligation to pay increased Base Rent. If the Index is changed so that the base year differs from that in effect on June 1, 2002, then the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term provisions of this Sublease, Lease. The Administrative Rent set forth in Section 3(b) above and the governmental index or computation with which it is replaced Operating Expenses set forth in Section 5 below shall not be abated and shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: based on the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will Base Rent Laboratory 000 Xxxx 00xx Xxxxxx, XX, XX Rocket Pharmaceuticals, Ltd. - Page 5 that would have been payable without regard to the Base Rent Abatement. Notwithstanding anything to the contrary in this Section 4, the adjustment in the Base Rent as set forth in this Section 4 shall be credited toward each of calendar months June, July, August based on the full and September, 2002, such that the installment unabated amount of Base Rent payable by Sublessee for each such calendar the first 12 month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); period from and after the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)Commencement Date.

Appears in 1 contract

Samples: Lease Agreement (Rocket Pharmaceuticals, Inc.)

Base Rent Adjustments. Beginning on June 1, 2003, the first anniversary of the Sublease Commencement Date and on each successive anniversary of such date thereafter during the term of this Sublease Term (June 1, 2003, and each such anniversary being an "Adjustment DateADJUSTMENT DATE"), the Base Rent applicable immediately prior to the Adjustment Date shall be increased by the greater of three one-hundred percent (3100%) or of the percentage of increase, if any, shown by the Consumer Price Index for all All Urban Consumers, San Francisco Bay Area, All Items (base year years 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("IndexINDEX") ), published by the United States Department of Labor, Bureau of Labor Statistics, for the month immediately preceding the Adjustment Date as compared with the Index for the same month in the immediately preceding June 1calendar year; provided, 2002however, that Base Rent shall be increased by not less than three percent (3%) per year nor more than six percent (6%) per year. Sublessor shall calculate the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%), then the applicable increase for that Adjustment Date shall be five percent (5%). Sublessor shall give written notice of the amount of the increase, multiplied by the number of installments of Base Rent rent due under the Sublease this Lease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent rent next coming becoming due under the this Sublease, and shall thereafter pay the monthly Base Rate rent due under the this Sublease at the this increased rate, which will shall constitute Base Rent, until Base Rent is again increased pursuant to this provision. Sublessor's failure to make the required calculations promptly shall not be considered a breach or default of Sublessor under this Sublease or waiver of Sublessor's right rights to increase Base Rentadjust the monthly rent due, nor shall it affect Sublessee's obligation obligations to pay the increased Base Rent. If the Index is changed so that the base year differs from that in effect on June 1the Sublease Commencement Date, 2002, then the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this SubleaseSublease Term, the governmental government index or computation with which it is replaced shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment of Base Rent payable by Sublessee for each such calendar month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50).

Appears in 1 contract

Samples: Inhale Therapeutic Systems Inc

Base Rent Adjustments. Beginning on June 1, 2003, and Base Rent shall be increased on each annual anniversary of such date the first day of the first full month during the term Term of this Sublease Lease (June 1, 2003, and each such anniversary being an "Adjustment Date"), ”) by multiplying the Base Rent applicable payable immediately prior 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. “CPI Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be increased the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. “Index” means the “Consumer Price Index-All Urban Consumers-Northeast Region, All Items” compiled by the greater of three percent (3%) or the percentage increase, if any, shown by the Consumer Price Index for all Urban Consumers, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with Landlord may reasonably deem appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of the computation and Tenant shall pay to Landlord an amount of the increase, multiplied by the number of installments equal to any underpayment of Base Rent due under the Sublease since the Adjustment Dateby Tenant within 15 days of Landlord’s notice to Tenant. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased pursuant Failure to this provision. Sublessor's failure to make the required calculations promptly deliver such notice shall not be considered a breach reduce, xxxxx, waive or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublessee's diminish Tenant’s obligation to pay increased the adjusted Base Rent. If the Index is changed so that the base year differs from that in effect on June 1, 2002, then the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment of Base Rent payable by Sublessee for each such calendar month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50).

Appears in 1 contract

Samples: Lease Agreement (Sirtris Pharmaceuticals, Inc.)

Base Rent Adjustments. Beginning on June 1, 2003, and Base Rent shall be increased on each annual anniversary of such date the first day of the first full month during the term Term of this Sublease Lease (June 1, 2003, and each such anniversary being an "Adjustment Date"), ) by multiplying the Base Rent applicable payable immediately prior 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. "CPI Adjustment Percentage" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index (as defined below) for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be increased by the greater of three percent (3%) or Index for the percentage increasecalendar month 3 months before the last Adjustment Date or, if anyno prior Base Rent adjustment has been made, shown by 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "Index" means the "Consumer Price Index for all - All Urban ConsumersConsumers - San Diego, California Metropolitan Area, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published Items" compiled by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with reasonably appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as reasonably appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice of indicating the amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased as adjusted pursuant to this provisionSection, and the method of computation. Sublessor's failure Failure to make the required calculations promptly deliver such notice shall not be considered a breach reduce, xxxxx, waive, or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublesseediminish Tenant's obligation to pay increased the adjusted Base Rent. If the Index such notice is changed so that the base year differs from that in effect delivered to Tenant on June 1or after an Adjustment Date, 2002, then the Index Tenant shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used pay to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession Landlord an amount equal to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment any underpayment of Base Rent payable by Sublessee for each such calendar month will be equal Tenant within 15 days of Landlord's notice to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)Tenant.

Appears in 1 contract

Samples: Lease Agreement (Cell Genesys Inc)

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Base Rent Adjustments. Beginning Base Rent for the Expansion Premises shall be increased: (i) commencing on June 1the date of each disbursement by Landlord of the Tenant Improvement Allowance (as defined in Section 6(c) below), 2003by an amount equal to $____ per annum for each dollar or portion thereof disbursed by Landlord for the Tenant Improvements, and (ii) on each annual anniversary of such date the first day of the first full month during the term Expansion Term of this Sublease Second Amendment (June 1, 2003, and each such anniversary being an "“Expansion Premises Adjustment Date"), ”) by multiplying the Base Rent applicable payable immediately prior before such Expansion Premises Adjustment Date by the Expansion Premises Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Expansion Premises 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. “Expansion Premises Rent Adjustment Percentage” means (x) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Expansion Premises Adjustment Date occurs, and the denominator of which shall be increased by the greater of three percent (3%) or Index for the percentage increasecalendar month 3 months before the last Expansion Premises Adjustment Date or, if anyno prior Base Rent adjustment has been made, shown by 3 months before the first day of the first full month during the Expansion Term of this Lease, less (y) 1.00. “Index” means the “Consumer Price Index for all Index-All Urban Consumers, Seattle - Tacoma Bremerton, WA Metropolitan Area, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published Items” compiled by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with Landlord may reasonably deem appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of the computation and Tenant shall pay to Landlord an amount of the increase, multiplied by the number of installments equal to any underpayment of Base Rent due under by Tenant within 15 days of Landlord’s notice to Tenant. Failure to deliver such notice shall not reduce, axxxx, waive or diminish Tenant’s obligation to pay the Sublease since adjusted Base Rent. Notwithstanding the foregoing, any increase in the Base Rent based upon the Expansion Premises Rent Adjustment DatePercentage shall not be less than a minimum of 3%, nor more than a maximum of 6% on an annual basis. Sublessee During the Base Term, Tenant shall continue to pay this amountthe full Base Rent with respect to the Original Premises as provided for in the Lease. During the Expansion Term, Tenant shall pay, as Additional Rent, the amounts and charges provided in Section 5 and Section 9(a) and (b) of the Lease with respect to Tenant’s Share of Expenses and Taxes for the Premises (including the Original Premises and the Expansion Premises), together with the increased monthly Base Rent next coming due all other amounts and charges payable by Tenant to Landlord under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased pursuant to this provision. Sublessor's failure to make the required calculations promptly shall not be considered a breach or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublessee's obligation to pay increased Base Rent. If the Index is changed so that the base year differs from that in effect on June 1, 2002, then the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment of Base Rent payable by Sublessee for each such calendar month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)Lease.

Appears in 1 contract

Samples: Lease Agreement (Atossa Genetics Inc)

Base Rent Adjustments. Beginning on June 1, 2003, and Base Rent shall be increased on each annual anniversary of such date the first day of the first full month during the term Term of this Sublease Lease (June 1, 2003, and each such anniversary being an "Adjustment DateADJUSTMENT DATE"), ) by multiplying the Base Rent applicable payable immediately prior 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. "CPI ADJUSTMENT PERCENTAGE" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be increased the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" means the "Consumer Price Index-All Urban Consumers-Boston Metropolitan Area, All Items" compiled by the greater of three percent (3%) or the percentage increase, if any, shown by the Consumer Price Index for all Urban Consumers, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with Landlord may reasonably deem appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice of indicating the amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased as adjusted pursuant to this provisionSection, and the method of computation. Sublessor's failure Failure to make the required calculations promptly deliver such notice shall not be considered a breach reduce, abate, waive or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublesseediminish Tenant's obligation to pay increased Base Rentthe adjusted Basx Xxxt. If the Index such notice is changed so that the base year differs from that in effect delivered to Tenant on June 1or after an Adjustment Date, 2002, then the Index Tenant shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used pay to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession Landlord an CONFIDENTIAL - DO NOT COPY amount equal to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment any underpayment of Base Rent payable by Sublessee for each such calendar month will be equal Tenant within 15 days of Landlord's notice to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)Tenant.

Appears in 1 contract

Samples: Lease Agreement (Acusphere Inc)

Base Rent Adjustments. Beginning Base Rent shall be increased on June 1, 20032009, and on each anniversary of such date during the term of this Sublease (June 1, 2003, and 2010 (each such anniversary being an "Adjustment Date"), ”) by multiplying the Base Rent applicable payable immediately prior 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. “CPI Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be increased the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made based upon the CPI Adjustment Percentage, 3 months before the New Commencement Date, less (ii) 1.00. “Index” means the “Consumer Price Index-All Urban Consumers-San Francisco-Oakland-San Xxxx, All Items” compiled by the greater of three percent (3%) or the percentage increase, if any, shown by the Consumer Price Index for all Urban Consumers, All Items (base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("Index") published by the United States U.S. Department of Labor, Bureau of Labor Statistics, for (1982-84 = 100). If a substantial change is made in the month immediately preceding Index, the Adjustment Date revised Index shall be used, subject to such adjustments as compared with Landlord may reasonably deem appropriate in order to make the revised Index for comparable to the month immediately preceding June 1, 2002prior Index. Sublessor shall calculate If the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes Statistics ceases to publish the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (5%)Index, then the applicable increase for that Adjustment Date successor or most nearly comparable index, as reasonably determined by Landlord, shall be five percent (5%)used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Sublessor Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of the computation and Tenant shall pay to Landlord an amount of the increase, multiplied by the number of installments equal to any underpayment of Base Rent due under the Sublease since the Adjustment Dateby Tenant within 30 days of Landlord’s notice to Tenant. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is again increased pursuant Failure to this provision. Sublessor's failure to make the required calculations promptly deliver such notice shall not be considered a breach reduce, xxxxx, waive or default of Sublessor under this Sublease or waiver of Sublessor's right to increase Base Rent, nor shall it affect Sublessee's diminish Tenant’s obligation to pay increased the adjusted Base Rent. If the Index is changed so that the base year differs from ; provided, however, that in effect on June 1, 2002, then no event shall any adjustment be made after the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued termination or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months expiration of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such that the installment of Base Rent payable by Sublessee for each such calendar month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Three Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50)Lease."

Appears in 1 contract

Samples: Property Lease Agreement (Avigen Inc \De)

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