Common use of Basic Annual Rent Clause in Contracts

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. 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 One Million Two Million Ninety Nine Thousand Six Hundred Seventy Four dollars Thousand One Hundred Eighty and no/100 (2,099,674.001,270,180.00). 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 preceding 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. 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 preceding 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-per diem basis (based upon a thirty (30) day month).

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 One Million Ninety Nine Six Thousand Six Hundred Seventy Four dollars Fifty-Six and no/100 Dollars (2,099,674.00)$1,006,656.00) which includes the basement storage space. 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 4th 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”)higher. 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 3rd month proceeding preceding the month in which the Lease commences shall be considered the Basic Price Index. Therefore, the beginning of the fourth 4th year and every three years thereafter, the Basic Annual Rent Rental 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 3rd month preceding the beginning of the anniversary (or each such adjustment date) 4th year and the denominator of which is the Basic Price Index. AdditionallyThe above not withstanding, the Laboratory Facility Basic Annual Rent will maximum increase at the beginning of the 4th year shall be adjusted in no more than 15.76% which is 5% per year compounded, and likewise on every adjustment date hereafter, the same mannermaximum increase shall be limited as described herein. 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. 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 One Million Ninety Nine Six Thousand Six Hundred Seventy Four dollars Fifty-Six and no/100 Dollars (2,099,674.00)$1,006,656.00) which includes the basement storage space. 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 4th 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”)higher. 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 3rd month proceeding preceding the month in which the Lease commences shall be considered the Basic Price Index. Therefore, the beginning of the fourth 4th year and every three years thereafter, the Basic Annual Rent Rental 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 3rd month preceding the beginning of the anniversary (or each such adjustment date) 4th year and the denominator of which is the Basic Price Index. AdditionallyThe above not withstanding, the Laboratory Facility Basic Annual Rent will maximum increase at the beginning of the 4th year shall be adjusted in no more than 15.76% which is 5% per year compounded, and likewise on every adjustment date hereafter, the same mannermaximum increase shall be limited as described herein. 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. 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 Seven Hundred Ninety Five Thousand Nine Hundred Two Million Ninety Nine Thousand Six Hundred Seventy Four dollars and no/100 Dollars (2,099,674.00)$795,902.00) which includes the basement storage space. 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 4th 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”)higher. 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 3rd month proceeding preceding the month in which the Lease commences shall be considered the Basic Price Index. Therefore, the beginning of the fourth 4th year and every three years thereafter, the Basic Annual Rent Rental 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 3rd month preceding the beginning of the anniversary (or each such adjustment date) 4th year and the denominator of which is the Basic Price Index. AdditionallyThe above not withstanding, the Laboratory Facility Basic Annual Rent will maximum increase at the beginning of the 4th year shall be adjusted in no more than 15.76% which is 5% per year compounded, and likewise on every adjustment date hereafter, the same mannermaximum increase shall be limited as described herein. 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).Commencement

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 Hundred Eighty Six Thousand Seven Hundred Six Hundred Seventy Four dollars and no/100 Dollars (2,099,674.00$986,706.00). 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 preceding 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).