Monthly Basic Rent and Partial Basic Rent Abatement Clause Samples

Monthly Basic Rent and Partial Basic Rent Abatement. Tenant agrees to pay Landlord, as basic rent for the Premises, the Monthly Basic Rent in the amounts designated in Section 1.8 of the Summary. The Monthly Basic Rent shall be paid by Tenant in monthly installments in the amounts designated in Section 1.8 of the Summary in advance on the first day of each and every calendar month during the Term, without demand, notice, deduction or offset except that the eleventh (11th) full month’s Monthly Basic Rent shall be paid upon Tenant’s execution and delivery of this Lease to Landlord. Monthly Basic Rent for any partial month shall be prorated in the proportion that the number of days this Lease is in effect during such month bears to a thirty (30) day month. Notwithstanding anything to the contrary contained herein and provided that Tenant is not in default under the terms of this Lease after the expiration of applicable cure periods at any time during such partial abatement period, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay one-half (1/2) of Tenant’s Monthly Basic Rent for the first (1st), second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th), eighth (8th), ninth (9th), and tenth (10th) full months of the initial Lease Term. During such partial abatement period, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 23 of this Lease, then as a part of the recovery set forth in Section 23 of this Lease, Landlord shall be entitled to the recovery of the unamortized portion of the Monthly Basic Rent that was abated under the provisions of this Section 3.1 (which shall amortize monthly on a straight-line basis from the first day of the eleventh (11th) month through the expiration of the initial Lease Term).