Base Rent Reduction. Buyer shall provide in the Lease for the Lessee to be able anytime in the first 18 months of the Lease, to "buy-down" the Base Rent by the payment of $300,000, resulting in a corresponding $27,000 reduction in the Base Rent then payable. Buyer and Seller must mutually agree on the language describing such provision in the Lease. Buyer is submitting this offer by signing a copy of this Agreement and delivering it to Seller. Seller has until October 15, 2003, within which time to accept this offer by signing and returning this Agreement to Buyer. When executed by both parties, this Agreement will be a binding agreement for valid and sufficient consideration which will bind and benefit Seller, Buyer and their respective successors and assigns. The remainder of the page has intentionally been left blank.
Base Rent Reduction. Subject to Paragraph 4 below, Lesxxx xxrees to reduce the Base Rent by the following amounts ("Reduced Base Rent") during the following time periods ("Reduced Base Rent Period"): Reduction Period Base Rent (unadjusted) Amount Reduced Base Rent (after reduction)
Base Rent Reduction. In case of a taking of less than 50% of a Property, or less than 50% of the access thereto, and if this Lease is not terminated as to such Property as provided in Section 13.2 above, the Base Rent payable hereunder shall, from and after the date of such taking, be reduced by an amount equal to the product of (i) 6.0% multiplied by (ii) the net condemnation proceeds retained by Landlord after the application of any such proceeds to the repair, restoration, or replacement necessitated by the condemnation.
Base Rent Reduction. In the event of a partial taking of the Demised Premises under Section 12.2 hereof, followed by Tenant's election not to terminate this Lease, the fixed Base Rent payable hereunder during the period from and after the date of vesting of title pursuant to such Proceedings to the earlier of the termination of this Lease or until the next date upon which Rent is determined under Section 3.1 above, shall be determined by multiplying the Base Rent then being paid by Tenant by a fraction, the numerator of which is the square footage of the Building after such taking and after the same has been restored to a complete architectural unit, and the denominator of which is the square footage of the Building prior to such taking.
Base Rent Reduction. Effective as of January 1, 2018 the annual Base Rent payable under the Portfolio Leases shall be reduced by Nineteen Million Dollars ($19,000,000), which Base Rent reduction shall be applied to the rent payable under the Connecticut Master Lease and the Other Centers Master Lease in such manner as Landlord shall determine in its reasonable discretion.
Base Rent Reduction. Commencing on the Parking Recapture Effective Date and continuing for the remainder of the initial Term, Tenant shall be entitled to a monthly Base Rent reduction equal to $45.00 per space per month multiplied by the number of Actual Recaptured Spaces (the “Base Rent Reduction”).
Base Rent Reduction. Subject to the provisions of Sections 13 and 14 below, from and after August 1, 2005, and continuing until the Initial Termination Date (as set forth in Section 3 above), the Monthly Base Rent currently due from Tenant is reduced by the amount of Thirty-Seven Thousand Eight Hundred and 00/100 Dollars ($37,800.00) per month ("Monthly Base Rent Reduction"). In the event the Initial Termination Date does not fall on the last day of the month, the Monthly Base Rent Reduction will be prorated accordingly. In the event the Delivery Date (as defined in Section 13(c) below) occurs after August 1, 2005, Tenant will make the Base Rent payment currently required under the Lease, and provided this Fifth Amendment is not terminated as provided in Section 13(c) below Landlord will credit the applicable Monthly Base Rent Reduction against the next Base Rent payment(s) due.
Base Rent Reduction. In the event of a partial taking of the Demised Premises under Section 12.2 hereof, followed by Tenant's election not to terminate this Lease, the fixed Base Rent payable hereunder during the period from and after the date of vesting of title pursuant to such Proceedings to the earlier of the termination of this Lease or until the next date upon which Rent is determined under Section 3.1 hereof, shall be determined by multiplying the applicable Base Rent then being paid by Tenant, by a fraction, the numerator of which is the square footage of Landlord's Improvements after such taking and after the same has been restored to a complete architectural unit, and the denominator of which is the square footage of Landlord's Improvements immediately prior to such taking.
Base Rent Reduction
