Base Rent During Extension Term Clause Samples
The 'Base Rent During Extension Term' clause defines the amount of rent a tenant must pay if they choose to extend their lease beyond the original term. Typically, this clause specifies how the base rent will be calculated during the extension period, such as referencing a fixed percentage increase, tying it to market rates, or outlining a predetermined schedule. By clearly establishing the rent obligations for any extension, this clause provides predictability for both landlord and tenant, preventing disputes and ensuring both parties understand the financial terms if the lease continues past its initial expiration.
Base Rent During Extension Term. Commencing on the Extension Term Commencement Date and, subject to the provisions of Section 3 above, continuing through the last day of the Extension Term, Base Rent shall be payable as follows: Extension Term $ 12.00/RSF NNN $ 51,000.00 $ 4,250.00
Base Rent During Extension Term. Commencing on July 1, 2020 and continuing through the last day of the Extension Term, Base Rent shall be payable as follows: Period Base Rent/RSF NNN Annual Base Rent Monthly Base Rent Extension Term $12.00/RSF NNN $60,432.00 $5,032.00
Base Rent During Extension Term. Tenant shall pay Base Rent with respect to the Premises during the Extension Term as follows:
(a) During the period of April 1, 1999, through March 31, 2001, Base Rent shall be due in the annual amount of $80,285.43 and shall be payable, in advance, in monthly installments equal to $6,690.45.
(b) During the period of April 1, 2001, through March 31, 2002, Base Rent shall be due in the annual amount of $83,013.00 and shall be payable, in advance, in monthly installments equal to $6,917.
Base Rent During Extension Term. Commencing on the Extension Term Commencement Date, Base Rent for the Premises shall be as follows: April 15, 2024 – March 14, 2025 $ 30,205.00 March 15, 2025 – April 14, 2025 $ 0.00* April 15, 2025 – March 14, 2026 $ 31,111.15 March 15, 2026 – April 14, 2026 $ 0.00* April 15, 2026 – March 14, 2027 $ 32,044.48 March 15, 2027 – April 14, 2027 $ 0.00* *So long as no event of default shall have occurred under the Lease, L▇▇▇▇▇’s obligation to pay Base Rent shall be abated for Months 12, 24 and 36 of the Extension Term (the “Abatement Period”). Lessee shall be obligated to pay L▇▇▇▇▇’s Share of Common Area Operating Expenses during the Abatement Period. L▇▇▇▇▇ acknowledges and agrees that the foregoing Base Rent abatement has been granted to L▇▇▇▇▇ as L▇▇▇▇▇’s contribution towards the Remedial Work, and for Lessee agreeing to pay the rental and perform the terms and conditions otherwise required under the Lease, as amended by this Amendment. In the event of a default by L▇▇▇▇▇ under the terms of the Lease as hereby amended, Lessor shall be entitled to recover such abated Base Rent granted during the Abatement Period to the extent permitted by Section 13.3 of the Lease. All such Rent shall be payable by Lessee to Lessor in accordance with the terms of the Lease.
Base Rent During Extension Term. The Base Rent during the Extension Term ("Extension Term Base Rent") shall be an amount equal to the greater of (i) ninety five percent (95%) of the then fair market rental value of the Demised Promises ("Fair Market Rental Value"), as stated on a monthly basis and determined pursuant to this Section 3.2 as of the first (1st) day of the applicable Extension Term, or (ii) the Base Rent during the last month of the Initial Term (or the prior Extension Term as may be applicable), plus an amount sufficient for Tenant to fully amortize, over the Extension Term, in equal monthly installments, the amount of the Retrofit Allowance actually used by Tenant, plus interest on that amount at the annual rate of ten percent (10%). Upon receipt by Landlord of Tenant's Extension Notice under Section 1.2, above, Landlord and Tenant shall meet in an effort to negotiate, in good faith, the Extension Term Base Rent which shall become effective as of the first day of the Extension Term ("Extension Term Commencement Date"). The Extension Term Base Rent shall be increased to an amount equal to 1.06 times the then applicable Extension Term Base Rent, as may have been previously adjusted pursuant to this Section 3.2, every twenty-four (24) months during the Extension Term. If Landlord and Tenant have not agreed upon the Extension Term Base Rent within thirty (30) days after the delivery of Tenant's Extension Notice, the Extension Term Base Rent shall be determined as follows:
(a) Landlord and Tenant shall attempt to agree in good faith upon a single appraiser not later than thirty (30) days after delivery of Tenant's
Base Rent During Extension Term. Unless and until modified herein, the rental obligation of Tenant under the Lease shall be and remain governed by the terms of the Lease in effect as of the Effective Date hereof. Effective upon the commencement of the Extension Term, Tenant’s obligation for the payment of rent shall be modified as set forth below.
Base Rent During Extension Term. Base Rent during the Extension Term shall be Market Rent, as defined in Rider No. 1, to be determined in accordance with the Rider No. 1.
Base Rent During Extension Term. Effective as of the commencement of the Extension Term, the Base Rent, as defined in Section 1(i) of the Lease Agreement, applicable during the Extension Term shall be calculated as set forth below:
Base Rent During Extension Term. The following schedule of Base Rent is hereby added to Section 1.8 of the Lease: July 1, 2007 - June 30, 2008: Monthly Base Rent of $6,552 ($2.40 per sq ft. per month). July 1, 2008 - June 30, 2009: Monthly Base Rent of $6,749 (approximately $2.47 per sq ft. per month). July 1, 2009 - June 30, 2010: Monthly Base Rent of $6,951 (approximately $2.55 per sq ft. per month). July 1, 2010 - June 30, 2011: Monthly Base Rent of $7,160 (approximately $2.62 per sq ft. per month). July 1, 2011 - June 30, 2012: Monthly Base Rent of $7,374 (approximately $2.70 per sq ft. per month).
Base Rent During Extension Term. Commencing on the Extension Term Commencement Date and, subject to the provisions of Section 3 above, continuing through the last day of the extension term, Base Rent shall be payable as follows: