Basic Annual Rent. Commencing on the earlier of (i) sixty (60) days after the Commencement Date (which 60-day period is hereinafter referred to as the “Fit-Up Period”) or (ii) the date Tenant commences operating its business in the Building (such earlier date being herein the “Rent Commencement Date”), Tenant shall pay to Landlord during the Lease Term “Basic Annual Rent” payable in equal monthly installments as set forth below without any deductions, recoupments, or set-offs, and without demand, in advance on the first day of each and every calendar month in each lease year during the Lease Term; provided, however, that if the Lease Term shall commence on a day other than the first day of a month, Tenant shall pay on the Rent Commencement Date for the fractional part of a month at the beginning of the term, a prorated amount of one month’s rent. Notwithstanding the foregoing, in the event that Tenant occupies only a portion of the Building during the Fit-Up Period, then Tenant shall pay to Landlord, for the balance of the Fit-Up Period only, a percentage of the Basic Annual Rent and Additional Rent otherwise payable by Tenant during such period, which percentage shall be equal to the percentage of the Building occupied by Tenant during such period. In any event, upon the expiration of the Fit-Up Period, Tenant shall be obligated to commence payment of Basic Annual Rent and Additional Rent in their full amounts. Subject to adjustment pursuant to Sections 1(d) and 1(e) above and Rider No. 4 below, the Basic Annual Rent for each year of the original term shall be determined by multiplying the Rentable Area of Leased Premises, as hereinafter defined, by the following amounts: 1st lease year $11.50 2nd lease year $11.50 3rd lease year $11.50 4th lease year $12.34 5th lease year $12.34 6th lease year $12.34 7th lease year $13.25 8th lease year $13.25 9th lease year $13.25 10th lease year $13.25 The Basic Annual Rent shall be confirmed in the Lease Commencement Agreement.
Basic Annual Rent. It is the intent of both parties that the Basic Annual Rent herein specified shall be absolutely net to the Landlord throughout the term of this Lease, and that all costs, expenses and obligations relating to Tenant’s pro-rata share of the Building, Property and/or Building, Property and/or Leased Premises which may arise or become due during the term shall be paid by Tenant in the manner hereafter provided. For purposes of this Part IV and the Lease in general, the following words and phrases shall have the meanings set forth below:
Basic Annual Rent. Tenant agrees to pay to Landlord as basic annual rent (the “Basic Annual Rent”) at such place as Landlord may designate, without prior demand therefore and without any deduction or set off whatsoever, the sum of Two Million Ninety Nine Thousand Six Hundred Seventy Four dollars and no/100 (2,099,674.00). Said Basic Annual Rent shall be due and payable in twelve (12) equal monthly installments to be paid in advance on or before the first day of each calendar month during the term of the Lease. If the Lease is extended as provided for in section 2.3, then the Basic Annual Rent shall escalate at the beginning of the fourth year and every three (3) years thereafter using either a 3% annually compounded rate or the change in the All Urban Index, whichever is less (each such anniversary being referred to as an “adjustment date”). For purposes of this Lease the term “All Urban Index” shall mean the Consumer Price Index for All Urban Consumers-U.S. City Average-all Items (1982-1984 equals 100 base) as published by the United States Bureau of Labor Statistics or any successor agency or any other index hereinafter employed by the Bureau of Labor Statistics in lieu of said index. The price index for the third month proceeding the month in which the Lease commences shall be considered the Basic Price Index. Therefore, the beginning of the fourth year and every three years thereafter, the Basic Annual Rent set forth in this Section 3.1 shall be adjusted by multiplying such rental by a fraction, the numerator of which is the Price Index for the third month preceding the beginning of the anniversary (or each such adjustment date) and the denominator of which is the Basic Price Index. Additionally, the Laboratory Facility Basic Annual Rent will be adjusted in the same manner. In no event shall Basic Annual Rent or the Laboratory Facility Basic Annual Rent be reduced. In the event the Commencement Date occurs on a day other than the first day of a calendar month, then rent shall be paid on the Commencement Date for the initial fractional calendar month prorated on a per-diem basis (based upon a thirty (30) day month).
Basic Annual Rent. Monthly Installment. From and after July 1, 1997, the Basic Annual Rent for the Expansion Premises shall be $11,404.80, (based on $1.44 per square foot of Rentable Area), the monthly installment of the Basic Annual Rent shall be $950.40, and the per them amount for a partial lease month shall be $31.25.
Basic Annual Rent. 4.1 From January 1, 2011 through June 30, 2012, the Basic Annual Rent for the Premises shall be One Dollar and 75/100 ($1.75) per rentable square foot per month on a triple net basis.
4.2 In the event Landlord delivers the Additional Premises in the Required Condition on the Additional Premises Delivery Date, the Basic Annual Rent set forth in the table below shall apply to the Total Premises throughout the remainder of the initial Term and the Extension Term. July 1, 2012 - December 31, 2013 $1.85 NNN January 1, 2014 - December 31, 2014 $2.15 NNN January 1, 2015 - December 31, 2015 $2.25 NNN January 1, 2016 - December 31, 2016 $2.35 NNN January 1, 2017 - December 31, 2017 $2.45 NNN January 1, 2018 - December 31, 2018 $2.50 NNN January 1, 2019 - December 31, 2019 $2.55 NNN January 1, 2020 - December 31, 2020 $2.57 NNN
4.3 In the event Landlord does not deliver the Additional Premises in the Required Condition on the Additional Premises Delivery Date, the Basic Annual Rent set forth in the table below shall apply to the Premises throughout the remainder of the initial Term and the Extension Term. July 1, 2012 - December 31, 2013 $1.85 NNN January 1, 2014 - December 31, 2014 $2.05 NNN January 1, 2015 - December 31, 2015 $2.15 NNN January 1, 2016 - December 31, 2016 $2.25 NNN January 1, 2017 - December 31, 2017 $2.35 NNN January 1, 2018 - December 31, 2018 $2.40 NNN January 1, 2019 - December 31, 2019 $2.45 NNN January 1, 2020 - December 31, 2020 $2.50 NNN
Basic Annual Rent. (See Paragraph 2) Months 1 to 12, inclusive: Monthly Installment: $155,924.83 ($31.00/square foot of Rentable Area/annum) Months 13 to 24, inclusive: Monthly Installment: $171,014.33 ($34.00/square foot of Rentable Area/annum) Months 25 to 30, inclusive: Monthly Installment: $188,618.75 ($37.50/square foot of Rentable Area/annum)
Basic Annual Rent. Tenant hereby agrees to pay Basic Annual Rent for Leased Premises in the amount specified in Item D, Section 1.02 of this Lease without a right of set-off, except as expressly provided in this Lease, payable in advance in equal consecutive monthly installments as specified in Item E, Section 1.02 of this Lease, on or before the first day of each month during the Lease Term.
Basic Annual Rent. Notwithstanding anything to the contrary in the Lease, commencing on the Extension Term Commencement Date and continuing throughout the Thirteenth Amendment Extension Term, Basic Annual Rent for the Premises shall be as set forth in the charts below and Tenant shall pay such Basic Annual Rent for the Premises in accordance with the terms and provisions of the Lease. December 23, 2017 – December 22, 2018 6,770 $2.35 monthly $ 15,909.50 December 23, 2018 – December 22, 2019 6,770 $2.42 monthly $ 16,383.40 December 23, 2017 – December 22, 2018 110 $1.09 monthly $ 119.90 December 23, 2018 – December 22, 2019 110 $1.12 monthly $ 123.20
Basic Annual Rent. The Basic Annual Rent for the ----------------- Additional Premises shall be $0.99 triple-net (NNN) per square foot per month. The Basic Annual Rent for the Additional Premises shall be payable beginning on the Additional Premises Commencement Date (as defined in Paragraph 24.2 below).
Basic Annual Rent. For the term of this Lease, TENANT shall pay to LANDLORD without reduction, abatement or set-off (except as specifically set forth in Articles 2, 15 and 16 hereof), rent at the following annual rates: Lease Years 1-3 $831,111.00 ($41.00 per rentable square foot) Lease Years 4-7 $851,382.00 ($42.00 per rentable square foot)
