Base Rent Credit. Notwithstanding anything herein to the contrary but subject to Tenant not being in default and all prior rental payments having been received by Landlord not later than the fifth (5th) of each month, the Base Rent (and only the Base Rent) for the calendar month of November 2020 shall be discounted one hundred percent (100%) (the “Base Rent Credit”). Tenant understands and agrees that the foregoing Base Rent Credit is conditioned upon Tenant's not being in breach under this Lease. Accordingly, upon the occurrence of any breach under this Lease, the foregoing Base Rent Credit shall immediately become null and void, and any Base Rent previously credited to Tenant shall immediately become due and payable, and Tenant shall no longer receive any credit on account of such Base Rent Credit.
Base Rent Credit. Subject to the Rent Credit Cap (as hereinafter defined) and the provisions of this clause (4), if any of the Tenant Improvement Allowance funds remain unallocated and undisbursed as of February 1, 2020 (the “Unused Allowance”), Landlord shall, without any notice by or to Tenant, apply the Unused Allowance as a credit against 50% of the monthly installment of Base Rent for February 2020 and 50% of the monthly installments of Base Rent for each successive month thereafter until the Unused Allowance is exhausted. Any Base Rent credit provided in accordance with this clause (4) shall be deducted from the Tenant Improvement Allowance which Landlord is obligated to provide to Tenant. Notwithstanding anything to the contrary herein, in no event shall Tenant be entitled to utilize more than Five Hundred Sixty-Three Thousand Seven Hundred Twelve Dollars ($563,712) of the Tenant Improvement Allowance (i.e., 20% of the Tenant Improvement Allowance) (the “Rent Credit Cap”) towards Rent credit. Any Unused Allowance in excess of the Rent Credit Cap will be forfeited. Notwithstanding anything to the contrary herein, none of the Tenant Improvement Allowance shall be applied to Base Rent during any period that Tenant is in Default under the Lease as amended or there is an unbonded lien outstanding against the Building or the Premises or Tenant’s interest therein by reason of work done, or claimed to have been done, or materials supplied or fabricated, or claimed to have been supplied or fabricated, to or for Tenant or the Premises. References in this clause (4) to the Tenant Improvement Allowance and the Unused Allowance do not mean or include the Tenant Credit.
Base Rent Credit. Provided that a Lease Event of Default is not then occurring, Lessor agrees to provide a Base Rent credit in the amount of $1,500,000.00 ("Rent Credit Amount"), which shall be applied to offset the Base Rent due under the Lease commencing on August 1, 2014 until fully applied; however, Lessor shall have the right, upon five (5) days prior written notice to Lessee, to instead pay the remaining portion of the Rent Credit Amount not already applied to offset the Base Rent directly to Lessee in a lump sum, which lump sum payment shall (i) be increased to include all Privilege Taxes (as defined below) that Lessee shall be required to pay as a result of Lessee making additional Base Rent payments; and (ii) be made within thirty (30) days of the date of such notice. The right to the abatement set forth above shall be personal to American Express Travel Related Services Company, Inc., a New York corporation ("Named Lessee"), and shall not be transferable to any assignee or other transferee of Named Lessee's interest in the Lease.
Base Rent Credit. Within sixty (60) days after commencement of the second Lease Year, Tenant shall receive a Base Rent credit in the amount of one-sixth (1/6th) of the Personal Property Taxes paid by Xxxxxx in the first Lease Year.
Base Rent Credit. In addition to the abatement provided in Section 4.2.1, Subtenant shall receive a one-time credit of Two Hundred Sixty Thousand Dollars ($260,000) applied against the first (1st) installment of Base Rent due under this Sublease (for the avoidance of doubt, following the expiration of the initial Abatement Period).
Base Rent Credit. In consideration of the transactions relating to the JUMP Facility and the execution and delivery of the JUMP Lease, commencing on January 1, 2014, and continuing each month thereafter for a total of one hundred fifty six (156) consecutive calendar months (inclusive of the month of January, 2014), the then-applicable monthly installment of annual Base Rent under this Lease Agreement shall be reduced by an amount equal to $17,666.67 (the “Base Rent Credit”); provided, that the Base Rent Credit shall terminate immediately and prospectively as of the effective date of a termination of the JUMP Lease pursuant to the exercise by the tenant thereunder of its early termination option under Section 3.05(b) of the JUMP Lease.
Base Rent Credit. In respect of the interruption of access to and use of certain portions of the Premises during Landlord’s structural repair and replacement work referenced above, Landlord and Tenant hereby agree that Tenant is entitled to a credit against the payment of monthly Base Rent next due under the Lease following the Effective Date of this Amendment in an amount equal to [***]
Base Rent Credit. In the event that after completion of the construction of the Tenant Improvements and Landlord’s last disbursement of the Tenant Improvement Allowance pursuant to Section 2.2 and, if applicable, Section 2.4.1, above, any portion of the Tenant Improvement Allowance remains undisbursed and unallocated (the “Unused Tenant Improvement Allowance”), Tenant shall have the right, by written notice to Landlord, to elect to apply up to Fifty Thousand and 00/100 Dollars ($50,000.00) of any such Unused Tenant Improvement Allowance as a credit against Base Rent next coming due under the Lease, provided that in any given month the amount of such credit shall not exceed fifty percent (50%) of the Base Rent otherwise due and owing for such month.
Base Rent Credit. Notwithstanding anything herein to the contrary but subject to Tenant not being in default beyond any applicable notice and cure period, the Base Rent (and only the Base Rent) for the calendar month of February 2022 shall be discounted one hundred percent (100%) (the “Base Rent Credit”). Tenant understands and agrees that the foregoing Base Rent Credit is conditioned upon Tenant’s not being in breach under this Lease beyond any applicable notice and cure period. Accordingly, upon the occurrence of any breach under this Lease beyond any applicable notice and cure period, the foregoing Base Rent Credit shall immediately become null and void, and any Base Rent previously credited to Tenant shall immediately become due and payable, and Tenant shall no longer receive any credit on account of such Base Rent Credit.
Base Rent Credit. Notwithstanding anything to the contrary contained in the Lease or this Fourth Amendment, Landlord and Tenant hereby agree that Tenant shall receive a credit against Base Rent for the calendar month of September, 2018, in the total amount of Seven Thousand Two Hundred Sixty-Nine and 32/100 Dollars ($7,269.32) as reimbursement to Tenant for over-payment of Base Rent from the Rent Commencement Date to the Effective Date due to mutual mistake in the calculation of the rentable square footage of the original Premises during such period of time prior to this Fourth Amendment.
