Expansion Space From Expansion Effective Date Through Extended Expiration Date. As of the Expansion Effective Date, the schedule of Basic Rent payable with respect to the Expansion Space for the balance of the original Term and the Extended Term is the following: Months of Term or Period Monthly Rate Per Square Foot Monthly Basic Rent 5/1/13 – 4/30/14 $2.85 $14,504.00 5/1/14 – 4/30/15 $2.98 $15,165.00 5/1/15 – 12/31/15 $3.11 $15,827.00 All such Basic Rent shall be payable by Tenant in accordance with the terms of the Lease. Landlord and Tenant acknowledge that the foregoing schedule is based on the assumption that the Expansion Effective Date is the Estimated Expansion Effective Date. If the Expansion Effective Date is other than the Estimated Expansion Effective Date, the schedule set forth above with respect to the payment of any installment(s) of Basic Rent for the Expansion Space shall be appropriately adjusted on a per diem basis to reflect the actual Expansion Effective Date, and the actual Expansion Effective Date shall be set forth in the Expansion Effective Date Memorandum. However, the effective date of any increases or decreases in the Basic Rent rate (as set forth in the table in Section III.A and the second and third rows of the table in Section III.B) shall not be postponed as a result of an adjustment of the Expansion Effective Date as provided above.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. Tenant shall be obligated to pay Tenant’s Share (i.e., 2.63%) of Building Costs and Property Taxes accruing in connection with the Expansion Space in accordance with the terms of the Lease through the Extended Term; provided, however, the Base Year for calculation of Tenant’s Share of Building Costs and Property Taxes in connection with the Expansion Space shall be July 1, 2012, through June 30, 2013. Notwithstanding, Tenant shall not be responsible for any operating expenses for the Expansion Space for the initial twelve (12) month period commencing on the Expansion Effective Date.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. As of the Expansion Effective Date, the schedule of Base Rent payable with respect to the Expansion Space for the balance of the original Term and the Extended Term is the following: Period Annual Rate Per Square Foot Annual Base Rent Monthly Base Rent 11/1/03 – 2/28/05 $ 21.60 $ 29,894.40 $ 2,491.20 3/1/05 – 2/28/06 $ 22.20 $ 30,724.80 $ 2,560.40 3/1/06 – 2/28/07 $ 22.92 $ 31,721.28 $ 2,643.44 3/1/07 – 2/29/08 $ 23.52 $ 32,551.68 $ 2,712.64 All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease. Landlord and Tenant acknowledge that the foregoing schedule is based on the assumption that the Expansion Effective Date is the Target Expansion Effective Date. If the Expansion Effective Date is other than the Target Expansion Effective Date, the schedule set forth above with respect to the payment of any installment(s) of Base Rent for the Expansion Space shall be appropriately adjusted on a per diem basis to reflect the actual Expansion Effective Date, and the actual Expansion Effective Date shall be set forth in a confirmation letter to be prepared by Landlord. However, the effective date of any increases or decreases in the Base Rent rate shall not be postponed as a result of an adjustment of the Expansion Effective Date as provided above.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. For the period commencing with the Expansion Effective Date and ending on the Extended Expiration Date, Tenant shall pay for Tenant’s Proportionate Share of Operating Expenses applicable to the Expansion Space in accordance with the terms of the Lease, provided, however, during such period, the Base Year for the computation of Tenant’s Proportionate Share of Operating Expenses applicable to the Expansion Space is 2003.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. As of the Expansion Effective Date, the schedule of Basic Rent payable with respect to the Expansion Space for the balance of the original Term and the Extended Term is the following: Months of Term or Period Monthly Rate Per Square Foot Monthly Basic Rent 10/1/14-9/30/15 $1.254 $56,430.00* 10/1/15-3/31/16 $1.319 $59,355.00* 4/1/16-9/30/16 $1.339 $66,950.00** 10/1/16-9/30/17 $1.58 $96,222.00 10/1/17-9/30/18 $1.65 $100,485.00 10/1/18-9/30/19 $1.73 $105,357.00 10/1/19-9/30/20 $1.81 $110,229.00 10/1/20-9/30/21 $1.89 $115,101.00 10/1/21-9/30/22 $1.97 $119,973.00 *Based on 45,000 rentable square feet **Based on 50,000 rentable square feet All such Basic Rent shall be payable by Tenant in accordance with the terms of the Lease, provided that the first installment of Basic Rent at the initial rate specified above shall be delivered to Landlord concurrently with Tenant’s execution of this Amendment and shall be applied against the Basic Rent first due hereunder. Notwithstanding the above schedule of Basic Rent to the contrary, as long as Tenant is not in Default under the Lease, Tenant shall be entitled to an abatement of 3 full calendar months of Basic Rent in the aggregate amount of $169,290.00 (i.e. $56,430.00 per month) (the “Expansion Space Abated Basic Rent”) for the 2nd through 4th full calendar months following the Expansion Effective Date (the “Expansion Space Abatement Period”). Only Basic Rent shall be abated during the Expansion Space Abatement Period and all other additional rent and other costs and charges specified in the Lease shall remain as due and payable pursuant to the provisions of the Lease. Landlord and Tenant acknowledge that the foregoing schedule is based on the assumption that the Expansion Effective Date is the Estimated Expansion Effective Date. If the Expansion Effective Date is other than the Estimated Expansion Effective Date, the schedule set forth above with respect to the payment of any installment(s) of Basic Rent for the Expansion Space shall be appropriately adjusted on a per diem basis to reflect the actual Expansion Effective Date, and the actual Expansion Effective Date shall be set forth in the Expansion Effective Date Memorandum. The effective date of any increases or decreases in the Basic Rent rate shall be postponed as a result of an adjustment of the Expansion Effective Date as provided above.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. Tenant shall be obligated to pay Tenant’s Share of Project Costs and Property Taxes accruing in connection with the Expansion Space in accordance with the terms of the Lease through the Extended Term.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. As of the Expansion Effective Date, the schedule of Basic Rent payable with respect to the Expansion Space for the balance of the original Term and the Extended Term is the following: Months of Term or Period Monthly Rate Per Square Foot Monthly Basic Rent 2/1/19 to 1/31/20 $ 2.95 $ 10,747.00 2/1/20 to 3/31/20 $ 3.08 $ 11,220.00 All such Basic Rent shall be payable by Tenant in accordance with the terms of the Lease.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. Effective as of the Expansion Effective Date, the following shall be added to Item 7 of Article 1 of the Lease with respect to the Expansion Space: “Property Tax Base: The Property Taxes per rentable square foot incurred by Landlord and attributable to the twelve month period ending June 30, 2019 (the “Base Year”).
Expansion Space From Expansion Effective Date Through Extended Expiration Date. As of the Expansion Effective Date, the schedule of Monthly Installment of Rent payable with respect to the Expansion Space for the balance of the original Term and the Extended Term is the following: Months of Term or Period Monthly Rate Per Square Foot Monthly Installment of Rent 12/1/2018 to 11/30/2019 $2.40 $54,000.00 12/1/2019 to 11/30/2020 $2.47 $55,575.00 12/1/2020 to 11/30/2021 $2.55 $57,375.00 12/1/2021 to 11/30/2022 $2.62 $58,950.00 12/1/2022 to 11/30/2023 $2.70 $60,750.00 Monthly Installment of Rent shall be payable by Tenant in accordance with the terms of the Lease. Notwithstanding the above schedule of Monthly Installment of Rent to the contrary, as long as there is no Event of Default under the Lease, Tenant shall be entitled to an abatement of 3 full calendar months of Basic Rent in the aggregate amount of $162,000.00 (i.e. $54,000.00 per month) (the “Abated Monthly Installment of Rent”) for the 2nd, 3rd and 4th full calendar months of the Term following the Expansion Effective Date (the “Abatement Period”). If an Event of Default occurs at any time during the Term and Tenant fails to cure such Event of Default within any applicable cure period under the Lease, and as a result thereof, Landlord elects to terminate the Lease, all unamortized Abated Monthly Installment of Rent (i.e. based upon the amortization of the entire Abated Monthly Installment of Rent in equal monthly amounts during the Extended Term, without interest) shall immediately become due and payable. The payment by Tenant of the Abated Monthly Installment of Rent in the Event of Default shall not limit or affect any of Landlord's other rights, pursuant to the Lease or at law or in equity. Only Abated Monthly Installment of Rent shall be abated during the Abatement Period and all other additional rent and other costs and charges specified in the Lease shall remain as due and payable pursuant to the provisions of the Lease.
Expansion Space From Expansion Effective Date Through Extended Expiration Date. Effective as of the Expansion Effective Date, Tenant shall be obligated to pay Tenant’s Proportionate Share of Expenses and Taxes for the 2540 Building accruing in connection with the Expansion Space in accordance with the terms of the Lease from and after the Expansion Effective Date through the Extended Term. Tenant’s Proportionate Share of the 2540 Building shall be 100%.
