Initial Term Base Rent Clause Samples

The 'Initial Term Base Rent' clause defines the amount of rent that the tenant is required to pay during the initial period of the lease agreement. Typically, this clause specifies the exact dollar amount or a schedule of payments for the base rent, and may outline when and how these payments are to be made, such as monthly or annually. By clearly establishing the rent obligations for the initial term, this clause ensures both parties understand the financial commitments from the outset and helps prevent disputes over payment expectations.
Initial Term Base Rent. During the first Lease Year of the Initial Term, “Rent” shall be equal to Sixty Thousand and 00/100 Dollars ($60,000.00) per month. During each subsequent Lease Year of the Initial Term, “Rent” shall be equal to one-hundred two percent (102%) of the Rent due for the immediately preceding Lease Year.
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Initial Term Base Rent. (a) Base Rent payable during the Initial Term shall be the sum of the Phase Base Rent and the Remaining Premises Base Rent payable pursuant to the provisions of Sections 7.2(d) and 7.2(b) respectively. (b) During the Initial Term, Base Rent shall be payable with respect to each Undelivered Phase (the “Remaining Premises Base Rent”) on a quarterly basis, in advance on the first day of the Initial Term (to be prorated on a daily basis if not on the first day of a calendar quarter) and thereafter on the first day of each calendar quarter during the Term and, subject to the credits described in Sections 7.3(b), 7.3(f), 7.13 and 9.1(c), without abatement, offset, deduction, or prior notice, in the per annum amount of two percent (2%) of the appraised Fair Market Value allocated to each Undelivered Phase by the Qualified Appraisers pursuant to the Remaining Premises Appraisal. Effective as of the Phase Commencement Date for each Delivered Phase, the Remaining Premises Base Rent shall be reduced to the per annum amount of two percent (2%) of the appraised Fair Market Value allocated to the remaining Undelivered Phases on a per-unit of Entitled Use basis by the Qualified Appraisers pursuant to the Remaining Premises Appraisal. (c) If the Phase Commencement Date with respect to a particular Phase has not occurred by the last date specified in the Development Milestones for such Phase Commencement Date to occur, then Landlord’s sole remedy for such delay shall be to require that Base Rent with respect to such Phase increase, as of such last date specified in the Development Milestones for such Phase Commencement Date to occur, to the per annum amount of three and one-half percent (3.5%) of the appraised Fair Market Value allocated to that Undelivered Phase by the Qualified Appraisers pursuant to the Remaining Premises Appraisal. The foregoing notwithstanding, for purposes of this Section 7.2(c), the last date specified in the Development Milestones for such Phase Commencement Date to occur shall be postponed one (1) day for each day during the Initial Term containing an event or condition constituting a Delay. (d) During the Initial Term, Base Rent shall be payable with respect to each Delivered Phase (the “Phase Base Rent”) on a quarterly basis, in advance, commencing as of the Phase Commencement Date for that Delivered Phase and thereafter on the first day of each calendar quarter during the Term, and, subject to the credits described in Sections 7.3(d), 7.3(f),
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Initial Term Base Rent. Tenant shall pay Base Rent to Landlord during the Initial Term beginning on the Commencement Date and on the first business day of each successive calendar month, in advance and without demand. The Base Rent for the Initial Term (“Initial Term Base Rent”) shall be Four Hundred Eighteen Thousand Five Hundred Dollars and No Cents ($418,500.00) per year, payable in equal monthly installments of Thirty-Four Thousand Eight Hundred Seventy-Five Dollars and No Cents ($34,875.00). Landlord acknowledges that for the period January 1, 2005 to September 30, 2005 (the “Stub Period”), it has received Base Rent payments from Tenant in an amount equal to Four Hundred Ninety Seven Thousand One Hundred Seventy-Eight Dollars and No Cents ($497,178.00) which represents an overpayment of Base Rent of One Hundred Eighty-Three Thousand Three Hundred Three Dollars and No Cents ($183,303.00) during the Stub Period. Tenant shall be credited such amount less the amount of Prepaid Taxes (as defined in Section 6.1.3), Insurance Costs (as defined in Section 10.1.1.2) and Operation and Maintenance Costs (as defined in Section 6.3) incurred by Landlord as set forth herein. Such credit amounts to Seventy-Nine Thousand Eighty-Four Dollars and Ninety-Eight Cents ($79,084.98) which will be applied to the Base Rent for the months of October, November and December of 2005. Accordingly, the next Base Rent payment due to Landlord shall be Twenty-Five Thousand Five Hundred Forty Dollars and Two Cents ($25,540.02) which shall be due and payable on December 1, 2005.
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Initial Term Base Rent. Subject to adjustment as hereinafter provided, Tenant shall pay Landlord as base rent (“Base Rent”) the sum of One Hundred Fifteen Thousand Dollars ($115,000) per month in advance on the first day of each month during the Term beginning on the Closing Effective Time. If the Closing Effective Time is not on the first day of a calendar month then (i) Base Rent for the fractional month that includes the Closing Effective Time shall be due on the Closing Effective Time, and (ii) the Base Rent due for such fractional month shall be prorated based upon the actual number of days in such fractional month, On June 1, 2015, and on June 1, 2020, the Base Rent shall be increased by a percentage equal to the lesser of (i) the percentage increase in the CPI-U during the preceding five (5) year period (based upon the CPI-U for the months of May, 2010 and May, 2015 for the June 1, 2015 adjustment date and May, 2015 and May, 2020 for the June 1, 2020 adjustment date), or (ii) fifteen percent (15%); provided, however, that in no event shall the Base Rent be decreased. As used herein, “CPI-U” means the U.S. Department of Labor, Bureau of Labor Statistics, Consumers Price Index for all Urban Consumers, All Cities Average, Subgroup “all items” (base reference period 1982-84=100). If during the Term the U.S. Department of Labor, Bureau of Labor Statistics, ceases to publish the CPI-U, such other index or standard as will most nearly accomplish the aim and purpose of the CPI-U and the use thereof herein shall be selected by Landlord and Tenant.
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Initial Term Base Rent. During the first Lease Year (which extends through the twelfth (12th) month after the Effective Date) and each subsequent Lease Year during the Initial Term, Lessee shall pay to Lessor annualized base rent in the amount of $480,000 (“Base Rent”). Such Base Rent shall be paid in advance by wire transfer only, in equal monthly installments of $40,000.00 on the first day of each calendar month.
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Initial Term Base Rent. The monthly base rent during the Initial Term shall be as follows: Months 1 through 2: $.00 Months 3 through 36: $41,136 per month Months 37 through 60: $42,951 per month Months 61 through 96: $45,562 per month Months 97 through 122: $50,984 per month
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Related to Initial Term Base Rent

  • Initial Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan as a Base Rate Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Initial Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

  • Annual Base Rent Section 5.1 Effective as of the Effective Date, the first sentence of Section 5.1 of the Lease shall be deemed modified and restated in its entirety as follows: "During the Initial Term Tenant agrees to pay to Landlord annual base rent for the Premises (the "ANNUAL BASE RENT") at the rate of Three Million Eight Hundred Thousand and 00/100 Dollars ($3,800,000.00) per annum (the "INITIAL ANNUAL BASE RENT AMOUNT"). Notwithstanding the foregoing, provided that Tenant is not then in default under this Lease beyond any applicable period set forth in this Lease within which the default may be cured, Tenant shall be entitled to an aggregate credit of $1,000,000 to be applied in twelve (12) equal monthly installments of $83,333.33 against the monthly installments of Annual Base Rent due hereunder for the second through thirteenth calendar months of the Initial Term (the "FREE RENT PERIOD"); it being further agreed, however, that if Tenant is in default under this Lease beyond any applicable cure period, then (a) any credit not given Tenant during the period of such default shall only be suspended and shall be given to Tenant, and carried forward if not capable of immediately being used in its entirety until capable of being so used in its entirety, upon any subsequent cure by Tenant of such default and any other then existing default(s) by Tenant under this Lease, and (b) Tenant shall further be entitled to all monthly installments of such credit otherwise to be applied, pursuant to the terms hereof, after such subsequent cure(s). Notwithstanding anything to the contrary in this Lease, if there shall be Net Distributable Cash for the Free Rent Period, but calculated for this purpose only without reference to any additional rent payable pursuant to this sentence, then Tenant shall pay an amount (such amount, the "FREE RENT MAKE-UP") equal to the lesser of (1) the amount of the $1,000,000 credit set forth above actually applied against Annual Base Rent as provided above, whether such application against Annual Base Rent was made during the Free Rent Period or subsequent thereto (i.e., if any portion of such credit is so applied after the Free Rent Period pursuant to either or both of the preceding clauses (a) and (b)) or (2)

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5. The Minimum Monthly Rent shall be increased as set forth in Section 1.5 and/or elsewhere in this Lease. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, and before the Commencement Date, Tenant shall pay to Landlord the aggregate of the first month’s Minimum Monthly Rent, the first month’s Monthly Impound Payment (see Section 4.4), and the Security Deposit (see Section 5).

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.