Common use of Initial Base Rent Clause in Contracts

Initial Base Rent. Tenant shall pay, without notice or demand, to Landlord or Landlord's agent at the management office of the Project, or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent ("BASE RENT") as set forth in Section 6 of the Summary, payable in equal monthly installments as set forth in Section 6 of the Summary in advance on or before the first day of each and every month during the Lease Term, without any offset or deduction whatsoever except as otherwise expressly set forth in this Lease. Base Rent shall commence on the Lease Commencement Date. The Base Rent for the first full month of the Lease Term shall be paid on or before the date which is ninety (90) days after Landlord notifies Tenant in writing that it has commenced construction of the Base Shell and Core with respect to such Building. Landlord shall invest such payment of the first month's Base Rent in a Certificate of Deposit with a maturity date approximately that of the Lease Commencement Date in a financial institution selected by Landlord, and any interest accruing thereon shall be credited to Tenant's Base Rent obligations for the second (2nd) full month of the Lease Term. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis.

Initial Base Rent. Tenant shall pay, without notice or demand, to Landlord or Landlord's agent at the management office of the Project, or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent ("BASE RENT") as set forth in Section 6 of the Summary, payable in equal monthly installments as set forth in Section 6 of the Summary in advance on or before the first day of each and every month during the Lease Term, without any offset or deduction whatsoever except as otherwise expressly set forth in this Lease. Base Rent shall commence on the Lease Commencement Date. The Base Rent for the first full month of the Lease Term shall be paid on or before at the date which is ninety (90) days after Landlord notifies Tenant in writing that it has commenced construction time of the Base Shell and Core with respect to such Building. Landlord shall invest such payment of the first month's Base Rent in a Certificate of Deposit with a maturity date approximately that of the Lease Commencement Date in a financial institution selected by Landlord, and any interest accruing thereon shall be credited to Tenant's Base Rent obligations for the second (2nd) full month execution of the Lease Termthis Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis.

Initial Base Rent. Tenant shall pay, without notice or demand, to Landlord or Landlord's agent at the management office of the Project, or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent ("BASE RENT") as set forth in Section 6 of the Summary, payable in equal monthly installments as set forth in Section 6 of the Summary in advance on or before the first day of each and every month during the Lease Term, without any offset or deduction whatsoever except as otherwise expressly set forth in this Lease. Base Rent shall commence on the Lease Commencement Date; provided, however, it is anticipated that the Tenant Improvements will be built-out in phases consisting of groups of floors ("FLOOR GROUP") as more particularly set forth in Section 5 of the Summary. Accordingly, and notwithstanding anything to the contrary contained in this Lease, Tenant's obligation to commence payment of Base Rent (and Additional Rent) shall commence on the Lease Commencement Date for each Floor Group, as specified in Section 5 of the Summary. Tenant may decide the exact phasing of the Floor Groups within the Building as Tenant prepares the Final Space Plan for the Building pursuant to the Tenant Work Letter (e.g., Tenant may elect to have the Estimated Lease Commencement Date for floors 2 and 5 be May 1, 2001 and the Estimated Lease Commencement Date for floors 3 and 4 be November 1, 2001); provided, however, such phasing shall have no impact on the Lease Commencement Date for the number of floors in each Floor Group and each Floor Group shall have the same number of floors as specified in Section 5 of the Summary. As more particularly set forth in Section 2.1, PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] the Lease Commencement Date for the Building shall occur upon the Lease Commencement Date for the initial first Floor Group within the Building, it being the intent of Landlord and Tenant that the Lease Term shall expire on the last day of the month in which the twelfth (12th) anniversary of Tenant's lease of the initial Floor Group within the Buildings occurs. The Base Rent for the first full month of the Lease Term shall be paid on or before the date which is ninety (90) days after Landlord notifies Tenant in writing that it has commenced construction of the Base Shell and Core with respect to such Building. Landlord shall invest such payment of the first month's Base Rent in a Certificate of Deposit with a maturity date approximately that of the Lease Commencement Date in a financial institution selected by Landlord, and any interest accruing thereon shall be credited to Tenant's Base Rent obligations for the second (2nd) full month of the Lease Term. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis.