Construction Rent. The Rent payable for a Development Project and for the San Antonio Project Improvements shall commence with the first Contingent Payment for Project Improvements and continue during the Construction Term (“Construction Rent”) shall be paid in arrears in consecutive monthly installments and shall be included by Landlord in each monthly Contingent Payment. Landlord will provide Tenant an informational copy of a Construction Rent invoice prepared in accordance with the terms of the Term Sheet each month. The final payment of Construction Rent shall be paid on the final day of the Construction Term. The Construction Rent for (i) each Development Project will be based upon the aggregate amount of the Acquisition Payments and the Contingent Payments made for such Development Project as of the applicable date, and (ii) for San Antonio Project Improvements will be based upon the aggregate amount of the Contingent Payments made for such Project Improvements as of the applicable date, and Landlord’s rate of return equal to the LIBOR Rate plus 4.35%, adjusted from month to month at the time and in accordance with the Term Sheet to reflect each change in the LIBOR Rate.
Construction Rent. Commencing as of the Commencement Date (if the Commencement Date is the first day of a calendar month, or otherwise on the first day of the calendar month next following the Commencement Date), and continuing on the first day of each month thereafter throughout the term of the Lease, Tenant shall pay to Landlord, as additional rent, Construction Rent, as hereinafter defined, based upon the amount of Landlord’s Additional Contribution. Tenant’s monthly payments of Construction Rent shall be equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord’s Additional Contribution, together with interest at the rate of seven percent (7%) per annum, on a level payment direct reduction basis over a term equal to the term of the Lease. Monthly payments of Construction Rent shall be payable at the same time and in the same manner as Yearly Rent is payable under the Lease, but shall commence on the Commencement Date rather than on the Rent Commencement Date. Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, untenantability of the Premises or termination of the Lease). Without limiting the foregoing, the rent abatement provisions of Articles 18 and 20 of the Lease shall not apply to Construction Rent. Since the payment of Construction Rent represents a reimbursement to Landlord of costs which Landlord will incur in connection with the construction of the Premises, if there is any default (beyond the expiration of any applicable grace periods) of any of Tenant’s obligations under the Lease (including, without limitation, its obligation to pay Construction Rent) or if the term of this Lease is terminated for any reason whatsoever prior to the termination of the Term of the Lease, Tenant shall pay to Landlord, immediately upon demand, the unamortized balance of Landlord’s Additional Contribution. Tenant’s obligation to pay the unamortized balance of Landlord’s Additional Contribution shall be in addition to all other rights and remedies which Landlord has based upon any default of Tenant under the Lease, and Tenant shall not be entitled to any credit or reduction in such payment based upon amounts collected by Landlord from reletting the Premises after the default of Tenant.
Construction Rent. The Rent payable for a Development Project during the Construction Period (“Construction Rent”) shall be due in arrears in consecutive monthly installments and shall, to the extent anticipated by the applicable Project Budget, be financed by Landlord through each monthly Development Payment as set forth in the applicable Project Budget. Landlord will provide Tenant an informational copy of a Construction Rent invoice each month. To the extent not financed by Landlord, Tenant shall pay Construction Rent on the first day of the month immediately following receipt of such invoice. The final payment of Construction Rent for a Development Project shall be paid on the final day of the applicable Construction Period. The Construction Rent for each Development Project will equal 1/12 of the applicable Development Project Investment Amount as of the applicable date, multiplied by the Construction Rate of Return.
Construction Rent. (A) To the extent, if any, that there are Tenant Plan Excess Costs, Tenant shall have the right to elect to pay Landlord, as Additional Rent, up to $[***] of the Tenant Plan Excess Costs (being the product of (i) $[***] and (ii) the Rentable Floor Area of the Premises) (the “Amortization Amount”) as provided in the following paragraph of this Section 1.6; provided Tenant notifies Landlord of such election at the time the initial payment of the Tenant Plan Excess Costs is due in accordance with Section 1.5 above, which election shall notify Landlord of the portion of the Tenant Plan Excess Costs which Tenant desires to pay in accordance with this Section 1.6 (not to exceed $[***]). To the extent the amount elected by Tenant to be included in the Amortization Amount is less than $[***], Tenant may include the Tenant Existing Premises Plan Excess Costs (as defined in Exhibit C below) provided (i) such election is made by Tenant at the time the initial payment of the Tenant Existing Premises Plan Excess Costs is due in accordance with Section 1.5 of Exhibit B below, and (ii) the total amount included in the Amortization Amount does not exceed Tesaro Third Amendment (FINAL3) [***] INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. $[***], and any amount which is so added to the Amortization Amount shall be retroactively paid on a proportionate basis to the extent Monthly Improvement Cost Payments have commenced prior to such election pursuant to the following paragraph, and thereafter the Monthly Improvement Cost Payments shall be correspondingly adjusted to account for such addition to the Amortization Amount. Tenant shall reimburse Landlord, as Additional Rent, for the Amortization Amount amortized on a straight-line basis over forty-two (42) months at an interest rate of eight percent (8%) per annum in equal monthly payments (“Monthly Improvement Cost Payments”) payable on the first day of each month following the Third Floor Third Additional Premises Commencement Date (provided that if the Third Floor Third Additional Premises Commencement Date is the first day of a month such payments shall commence on the Third Floor Third Additional Premises Commencement Date) in the same manner as provided in the Lease for the payment of Annual Fixed Rent....
Construction Rent. See Section 5.2.
Construction Rent. If Landlord provides any Landlord's Additional Contribution then Tenant shall pay to Landlord, as Additional Rent, Construction Rent, as hereinafter defined. Construction Rent shall commence as of the Rent Commencement Date and shall continue on each Rent Payment Date thereafter. "CONSTRUCTION RENT" shall mean a monthly sum equal to the amount of equal monthly payments of principal and interest which would be necessary to repay a loan in the amount of Landlord's Additional Contribution paid to Tenant, together with interest at the rate of eight (8%) percent per annum, on a level direct reduction basis over the Initial Lease Term (commencing as of the Rent Commencement Date). Construction Rent shall be treated as Additional Rent under the Lease. Landlord will deliver to Tenant a statement setting forth the Construction Rent. Construction Rent shall not be abated or reduced for any reason whatsoever (including, without limitation, termination of the Lease). In the event of any termination of this Lease, the outstanding balance of Landlord's Additional Contribution, plus all unpaid interest earned thereon shall become automatically due and payable as of the date of such termination.
Construction Rent. Section 1.23(B) of the Work Letter is hereby amended as follows: the term "(`Construction Rent')" shall be added to the end of the final sentence to Section 1.23(B) of the Work Letter.
Construction Rent. Commencing on June 1, 2015, and continuing through November 30, 2022, Tenant shall pay to Landlord, in the manner set forth in Section 4.15 of the Lease, Construction Rent in the amount of $5,965.37 per month, based upon the funded amount of Landlord's Additional
Construction Rent. Tenant shall pay, as additional rent for the Leased Premises ("Construction Rent"), a monthly payment in an amount sufficient to fully amortize the Construction Cost (as hereinafter defined) over the remaining initial term of the Lease at the Loan Interest Rate (as hereinafter defined). Notwithstanding any financing or refinancing of the Construction Cost by Landlord, Tenant shall fully amortize the Construction Cost by the expiration of the initial term of this Lease. The term "Construction Cost" shall mean the amount set forth in the Construction Budget (as hereinafter defined), plus Tenant's pro rata share of the amount set forth in the Site Budget (as hereinafter defined), as the same may be amended from time to time upon the mutual agreement of Landlord and Tenant, plus any loan origination fees or other loan fees or costs incurred by Landlord in connection with any interim or permanent loan from an institutional investor which Landlord obtains in order to finance or refinance the Construction Cost. The term "Loan Interest Rate" shall mean the stated
Construction Rent. The Rent payable for a Development Project shall commence with the first Contingent Payment for Project Improvements and continue during the Construction Term (“Construction Rent”) shall be paid in arrears in consecutive monthly installments and shall be included by Landlord in each monthly Contingent Payment. Landlord will provide Tenant an informational copy of a Construction Rent invoice prepared in accordance with the terms of the Term Sheet each month. The final payment of Construction Rent shall be paid on the final day of the Construction Term. The Construction Rent for each Development Project will be based upon the aggregate amount of the Acquisition Payments and the Contingent Payments made for such Development Project as of the applicable date, and Landlord’s rate of return equal to the LIBOR Rate plus 4.35%, adjusted from month to month at the time and in accordance with the Term Sheet to reflect each change in the LIBOR Rate.
