Free Rent. Landlord shall allow Tenant and Contractor to occupy and perform the tenant improvement work in the Premises without payment of rent after Possession (as defined in Addendum P. 3) for a period of two (2) months. Landlord shall allow Tenant to occupy one-half (1/2) of the Premises (approximately 17,630 rentable square feet) for six (6) months after the Commencement Date without payment of rent. Tenant's first month's rent paid upon execution of this Lease shall cover the rent on the remaining one-half (1/2) of the Premises for the first two (2) months after the Commencement Date.
Free Rent. Notwithstanding Paragraph 2 above, subject to the last sentence of this paragraph, Tenant shall not be obligated to pay Base Rent pursuant to paragraph 2 of this Lease during the first six (6) months following the Effective Commencement Date, as set forth on the Basic Lease Information page (the “Abatement Period”). If Tenant defaults under this Lease in any material obligation, and such default is not cured as provided for in this Lease during the Xxxxxx/nnnlease rev. 7/92 T DBS/L JCC Abatement Period, the rental abatement provided for above shall cease, effective as of the date of the act or omission that the Abatement Period, with the passage of time or giving of notice or both, would constitute an event of default. Further, if at any time during the initial one hundred-twenty (120) months of the Lease Term, Tenant defaults in any material obligation, and such default is not cured as provided for in this Lease, a pro-rata amount of the Base Rent which was abated during the Abatement Period shall automatically be due and payable in full, with interest thereon from the end of the Abatement Period at the rate of twelve percent (12%) per annum compounded monthly. The pro-rata amount shall be the unamortized portion of the Abated Rent as of the effective date of default based on amortization of the Abated Rent over the initial one-hundred twenty (120) months of the Lease Term.
Free Rent. OMB will provide Overstock with a free rent credit in the amount set forth on Exhibit A to be applied to rent for the New Premises. The free rent credit shall be applied to the initial rent payment for the New Premises and to each subsequent rent payment until it has been exhausted.
Free Rent. Tenant shall not be required to pay the Base Rent for the months of October, November and December, 2012.
Free Rent. Sublessor agrees, in consideration for Sublessor not --------- removing any walls or touching up any paint in the Subleased Premises, to provide Sublessee with a one time credit for thirty (30) days of free rent. Such one time credit for said thirty (30) days of free rent shall total Twenty Thousand Four Hundred and no/100 Dollars ($20,400.00) and shall be credited against the installment of Rental due hereunder by Sublessee to Sublessor on October 1, 1999.
Free Rent. Absent an Event of Default under the Lease, Tenant will receive free rent for the First Expansion Premises and the Second Expansion Premises as follows: Premises Period No. of Months Total Rent for Period First Expansion Premises First Effective Date through May 31, 2005 6 $0.00 Second Expansion Premises Second Effective Date through July 31, 2005 6 $0.00 The dates set forth above are subject to adjustment pursuant to Section 8, below.
Free Rent. Tenant shall be entitled to occupy the demised premises free of the charge for base rent in the first three months of the Lease Period. In all of these three months, Tenant remains responsible for all additional rents provided herein then due to Landlord.
Free Rent. Provided and so long as TENANT is not ever in monetary or material non-monetary default of this Lease beyond any applicable cure period, TENANT shall not be required to pay fixed rent for the month of May, 2019. If this Lease is terminated by OWNER because of TENANT’s default, then, in addition to all other damages and remedies to which OWNER may be otherwise entitled, OWNER shall also be entitled to the repayment, upon demand, of the unamortized portion of the free fixed rent calculated on a straight-line bases over the initial term of the Lease, OWNER’s failure to elect to collect the abated rent upon a default by TENANT shall not be deemed a waiver of OWNER’s right to collect such abated rent at any later point. TENANT acknowledges that it shall be responsible for the payment of water, sprinkler and electric charges commencing immediately upon TENANT’s having access to the demised premises.
Free Rent. (a) Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent to fund the free rent of Xxxxxx, Xxxxxxxxxx & Xxxxxxxxx into which Borrower shall deposit on the date hereof $388,872.97 (the “Free Rent Account”).
Free Rent. Notwithstanding anything in Section 3.1, above, to the contrary, provided Tenant is not then in default beyond the applicable notice and cure period provided in this Lease, Tenant shall not be obligated to pay the monthly Base Rent attributable to the Premises for the first nine (9) months of the initial Lease Term commencing on the Lease Commencement Date.
