Net Relief Payment; Additional Rent Clause Samples

Net Relief Payment; Additional Rent. Tenant shall pay to Landlord eighty percent (80%) of any and all of net relief of or reduction to Tenant’s financial obligations that would have been owing or would have accrued between the Commencement Date and October 31, 2017 (“Net Relief Payment”) under that certain Lease Agreement executed December 11, 2009 by and between Redfin Corporation, as tenant, and Market Place Tower, as landlord, as amended by that certain First Amendment executed February 3, 2010, that certain Second Amendment dated June 16, 2011, that certain Third Amendment dated May 17, 2012, and that certain Fourth Amendment dated November 12, 2012 (“Tenant’s Prior Lease”). The Net Relief Payment shall include, without limitation, any net relief or reduction of financial obligations that may accrue to Tenant’s benefit as a result of Tenant’s assignment of the Tenant’s Prior Lease, subleasing of the premises under the Tenant’s Prior Lease, or early termination of Tenant’s Prior Lease. The Net Relief Payment shall be made by Tenant to Landlord from time to time as such net relief of or reduction to Tenant’s financial obligations under the Tenant’s Prior Lease accrue to Tenant’s benefit, but in any event such Net Relief Payment shall be made within thirty (30) days after each such accrual event. At the time that Tenant makes the Net Relief Payment, Tenant shall provide Landlord with such documentation as is reasonably necessary to substantiate the amount of the Net Relief Payment. For illustrative purposes only, if (a) the Commencement Date under this Lease is February 1, 2017 and (b) on or before such Commencement Date, Tenant subleases a portion of the premises under Tenant’s Prior Lease and (c) as a result of such sublease, Tenant is relieved of rent and other financial obligations under the Tenant’s Prior Lease in the amount of $100,000.00 per month, then monthly for the period from the Commencement Date through October 31, 2017, Tenant shall pay $80,000.00 per month to Landlord as a Net Relief Payment.