Common use of Payment of Base Rent Clause in Contracts

Payment of Base Rent. (i) Tenant agrees to pay the Base Rent for the Premises as shown in Section 2(g) above. Base Rent, however, shall be calculated based upon the Rentable square feet within the Premises, determined in accordance with the following: within sixty (60) days after completion of construction of the Premises, Landlord’s architect shall calculate the Rentable Area and Useable Area of the Premises by application of the standard method for measuring floor area in office buildings (ANSI/BOMA Z65.1-1996). Such architect shall notify Landlord and Tenant of the results of such calculation and the Lease shall be amended to reflect the actual Rentable Area and Useable Area of the Premises and the resulting changes in Base Rent. In the event that one or more rental payments become due prior to determination of Rentable Area of the Premises pursuant to the above procedures, Tenant shall pay Base Rent based upon the schedule stated above. Upon final determination of Rentable Area of the Premises, the estimated Base Rent paid by Tenant shall be compared to the actual Base Rent due for such period and, within thirty (30) days, Tenant shall pay Landlord any deficiency or Landlord shall credit any excess payment against Tenant’s next installment of Base Rent. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first monthly installment of Base Rent when Tenant executes the Lease. (ii) The Base Rent for the option periods shall be adjusted annually (the Adjustment Date”) pursuant to Addendum #45, commencing on Tenant’s First Adjustment Date.

Payment of Base Rent. (i) Tenant agrees to pay the Base Rent for the Premises as shown in Section 2(g) 2.g above. Base Rent, however, shall be calculated based upon the Rentable square feet within the Premises, determined in accordance with the following: within sixty (60) days after completion of construction of the Premises, Landlord’s 's architect shall calculate the Rentable Area and Useable Area of the Premises by application of the standard method for measuring floor area in office buildings (ANSI/BOMA Z65.1-265.1, 1996). Such architect shall notify Landlord and Tenant of the results of such calculation and the Lease shall be amended to reflect the actual Rentable Area and Useable Area of the Premises and the resulting changes in Base Rent. In the event that one or more rental payments become due prior to determination of Rentable Area of the Premises pursuant to the above procedures, Tenant shall pay Base Rent based upon the schedule stated above. Upon final determination of Rentable Area of the Premises, the estimated Base Rent paid by Tenant shall be compared to the actual Base Rent due for such period and, within thirty (30) days, Tenant shall pay Landlord any deficiency or Landlord shall credit any excess payment against Tenant’s 's next installment of Base Rent. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first monthly installment Monthly Installment of Base Rent when Tenant executes the Lease. (ii) The Except to the extent that any delay in the Substantial Completion of the Leasehold Improvements is caused by a Tenant Delay enumerated in Paragraph 6 of the Work Letter Agreement, the Base Rent for the option periods as set forth herein above shall be adjusted annually as follows: (1) If the Adjustment Leasehold Improvements are Substantially Completed before the Estimated Commencement Date”, then Base Rent shall be adjusted as follows: Tenant shall receive sixty (60) pursuant to Addendum #45days of free rent, commencing minus one day of free rent for each day before the Estimated Commencement Date on Tenant’s First Adjustment which the Leasehold Improvements are Substantially Complete. (2) If the Leasehold Improvements are Substantially Completed on or after the Estimated Commencement Date, then Base Rent shall be adjusted as follows: Tenant shall receive sixty (60) days of free rent.