Base Rent Amounts Sample Clauses

Base Rent Amounts. The fixed annual rent (“Base Rent”) payable by Tenant to Landlord under this Lease shall commence on the Rent Commencement Date (defined below) and shall be payable without demand, notice, or offset (other than as expressly provided for in this Lease) as follows: 5 (1) $28,833,480.00 per annum, payable in equal monthly installments of $2,402,790.00 for the period beginning on the Rent Commencement Date and ending on the day immediately preceding the one (1) year anniversary of the Rent Commencement Date, both dates inclusive; (2) $28,192,736.00 per annum, payable in equal monthly installments of $2,349,394.67 for the period beginning on the one (1) year anniversary of the Rent Commencement Date and ending on the day immediately preceding the five (5) year anniversary of the Commencement Date, both dates inclusive; (3) $30,755,712.00 per annum, payable in equal monthly installments of $2,562,976.00 for the period beginning on the five (5) year anniversary of the Commencement Date and ending on the day immediately preceding the ten (10) year anniversary of the Commencement Date, both dates inclusive; (4) $33,318,688.00 per annum, payable in equal monthly installments of $2,776,557.33 for the period beginning on the ten (10) year anniversary of the Commencement Date and ending on the day immediately preceding the fifteen (15) year anniversary of the Commencement Date, both dates inclusive; and (5) $35,881,664.00 per annum, payable in equal monthly installments of $2,990,138.67 for the period beginning on the fifteen (15) year anniversary of the Commencement Date and ending on the Expiration Date, both dates inclusive; unless sooner terminated or extended, as provided herein. B. As used herein, the term “Rent Commencement Date” refers to the Final Substantial Completion Date (defined in Article 6), as determined by D&PM or, if applicable in accordance with the terms of Article 6, as determined by arbitration in accordance with the provisions of Section 6(A)(9)(vi), subject to possible acceleration or postponement in accordance with the terms of Article 6. No Base Rent or Additional Rent (defined below) shall be due and payable by Tenant to Landlord for the period commencing on the Commencement Date and ending on the day immediately preceding the Rent Commencement Date. C. All other payments due to Landlord from Tenant under this Lease (including, without limitation, payments due under Section 6(A)(7)) shall be considered “Additional Rent”. Base Rent and Additi...
Sample 1
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Base Rent Amounts. The “Base Rent” payable by Tenant is the amount set forth in Schedule 6(b) attached hereto with respect to the indicated Lease Years and Tenant shall also be responsible for paying sales tax on all such amounts set forth therein. Notwithstanding anything to the contrary contained in Schedule 6(b), so long as no Event of Default occurs and is continuing, Tenant shall be entitled to an abatement of Base Rent during the Abated Base Rent Period. Commencing on the first day of the fifth (5th) full month after the Rent Commencement Date, Tenant shall commence the payment of Base Rent to Landlord as required by this Lease (the foregoing concession being the “Base Rent Abatement”). Tenant agrees and acknowledges that the Base Rent Abatement is a concession to Tenant to induce Tenant to enter into this Lease with Landlord, and, should an Event of Default occur where Landlord commences an action for damages against Tenant and terminates the Lease (in addition to any other rights or remedies which Landlord is entitled to pursue against Tenant, whether pursuant to Florida law or under this Lease) Landlord shall be entitled, as part of such claim for damages upon termination, to include the amount of Base Rent Abatement. Notwithstanding the foregoing, in the event that Substantial Completion of Tenant’s Work has not been achieved within one hundred eighty (180) days following the Delivery Date, then Tenant may extend the Rent Commencement Date for four (4) one (1) month periods (each a “Rent Commencement Extension” and collectively, the “Rent Commencement Extensions”) provided that: (i) Tenant sends Landlord written notice exercising each such Rent Commencement Extension at least five (5) days prior to the expiration of the then current Rent Commencement Date; and (ii) for each Rent Commencement Extension exercised by Tenant, Tenant’s Base Rent for the first (1st) Lease Year (as set forth in Schedule 6(b) attached hereto) will increase by $1.00 per square foot, and thereafter, shall increase annually by three percent (3%). By way of example, in the event that Tenant exercises all four (4) Rent Commencement Extensions, Tenant’s Base Rent Per Rentable Foot Per Annum for the first (1st) Lease Year will be $84.00 per square foot, the Annual Base Rent will be $2,702,448.00 and the Monthly Base Rent will be $225,204.00, with the Base Rent thereafter continuing to increase annually by three percent (3%). If Tenant extends the Rent Commencement Date as provided for in this Sec...
Sample 1

Related to Base Rent Amounts

  • 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.

  • 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.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Base Rent Abatement Provided that no Event of Default is then occurring, then during the period beginning on the Expansion Commencement Date and ending on November 14, 2010 (the “Base Rent Abatement Periods”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the 6310 Initial Premises for such Base Rent Abatement Period (the “Base Rent Abatement”). Tenant acknowledges and agrees that notwithstanding such Base Rent Abatement, such abatement of Base Rent shall have no effect on the calculation of any future increases in Base Rent, Operating Expenses or Tax Expenses payable by Tenant pursuant to the terms of the Lease (as hereby amended), which increases shall be calculated without regard to such abatement of Base Rent or corresponding abatement periods. Such Base Rent Abatement has been granted to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the “rent” and performing the terms and conditions otherwise required under the Lease, as amended. Notwithstanding anything to the contrary set forth in this Section 4.3, to the extent an Event of Default is then occurring, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Base Rent Abatement Period, with interest as provided pursuant to the Lease from the date such Base Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of the Base Rent Abatement as of such Event of Default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the entire Premises in full.

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

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • 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.

  • Severability; Maximum Payment Amounts If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s). Notwithstanding anything to the contrary contained in this Agreement or any other Transaction Document (and without implication that the following is required or applicable), it is the intention of the parties that in no event shall amounts and value paid by the Company and/or any of its Subsidiaries (as the case may be), or payable to or received by any of the Buyers, under the Transaction Documents (including without limitation, any amounts that would be characterized as “interest” under applicable law) exceed amounts permitted under any applicable law. Accordingly, if any obligation to pay, payment made to any Buyer, or collection by any Buyer pursuant the Transaction Documents is finally judicially determined to be contrary to any such applicable law, such obligation to pay, payment or collection shall be deemed to have been made by mutual mistake of such Buyer, the Company and its Subsidiaries and such amount shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by the applicable law. Such adjustment shall be effected, to the extent necessary, by reducing or refunding, at the option of such Buyer, the amount of interest or any other amounts which would constitute unlawful amounts required to be paid or actually paid to such Buyer under the Transaction Documents. For greater certainty, to the extent that any interest, charges, fees, expenses or other amounts required to be paid to or received by such Buyer under any of the Transaction Documents or related thereto are held to be within the meaning of “interest” or another applicable term to otherwise be violative of applicable law, such amounts shall be pro-rated over the period of time to which they relate.

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

  • Percentage Rent Any percentage rents due or paid under any of the Leases (“Percentage Rent”) shall be prorated between Buyer and Seller outside of Closing as of the Close of Escrow on a Lease-by-Lease basis, as follows; (a) Seller shall be entitled to receive the portion of the Percentage Rent under each Lease for the Lease Year in which Closing occurs, which portion shall be the ratio of the number of days of said Lease Year in which Seller was Landlord under the Lease to the total number of days in the Lease Year, and (b) Buyer shall receive the balance of Percentage Rent paid under each Lease for the Lease Year. As used herein, the term “Lease Year” means the twelve (12) month period as to which annual Percentage Rent is owed under each Lease. Upon receipt by either Buyer or Seller of any gross sales reports (“Gross Sales Reports”) and any full or partial payment of Percentage Rent from any tenant of the Property, the party receiving the same shall provide to the other party a copy of the Gross Sales Report and a check for the other party’s prorata share of the Percentage Rent within five (5) days of the receipt thereof. In the event that the Tenant only remits a partial payment, then the amount to be remitted to the other party shall be its prorata share of the partial payment. Nothing contained herein shall be deemed or construed to require either Buyer to Seller to pay to the other party its prorata share of the Percentage Rent prior to receiving the Percentage Rent from the Tenant, and the acceptance or negotiation of any check for Percentage Rent by either party shall not be deemed a waiver of that party’s right to contest the accuracy or amount of the Percentage Rent paid by the Tenant.

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