Common use of Payment of Rent until Commencement of Variable Rent Clause in Contracts

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the Amendment Date, (ii) on the Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the Amendment Date) shall be recalculated to give effect to the addition of Supplemental Rent as a component of Rent (as effectuated by the amendments to this Lease on the Amendment Date) and (iii) on the Amendment Date, a prorated portion of the amount of the monthly installment of Supplemental Rent for the month in which the Amendment Date occurs shall be paid by Tenant for the period from the Amendment Date until the last day of such calendar month, based on the number of days during such period (provided, however, that if Tenant pays or has paid (as an Imposition) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii)).

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the First Amendment Date, (ii) on the First Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the First Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the First Amendment Date) shall be recalculated to give effect to the addition of Supplemental Rent as a component of Rent (as effectuated by the amendments to this Lease on the First Amendment Date) and ), (iii) on the First Amendment Date, a prorated portion of the amount of the monthly installment of Supplemental Rent for the month in which the First Amendment Date occurs shall be paid by Tenant for the period from the First Amendment Date until the last day of such calendar month, based on the number of days during such period (provided, however, that if Tenant pays or has paid (as an Imposition) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii)), (iv) on the Second Amendment Date, a prorated portion of an amount equal to the Initial Rent Increase for the month in which the Second Amendment Date occurs shall be paid by Tenant for the period from the Second Amendment Date until the last day of such calendar month, based on the number of days during such period, (v) other than the prorated portion of the HLV Initial Rent Increase to be paid in accordance with the immediately preceding clause (iv), no HLV Initial Rent shall be payable with respect to the period prior to the first (1st) day of the first (1st) full calendar month following the Second Amendment Date, (vi) other than the prorated portion of the CPLV Initial Rent Increase to be paid in accordance with the preceding clause (iv), no CPLV Initial Rent Increase shall be payable with respect to the period prior to the first (1st) day of the first (1st) full calendar month following the Second Amendment Date and (vii) on the Second Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the Second Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the Second Amendment Date) shall be recalculated to give effect to the addition of the Initial Rent Increase as a component of Rent (as effectuated by the amendments to this Lease on the Second Amendment Date).

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the Amendment Date, (ii) on the Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the Amendment Date) shall be recalculated to give effect to the addition of Supplemental changes to Rent as a component of Rent (as effectuated by the amendments to this Lease on the Amendment Date) Date and (iiiii) on the Amendment Date, if the Amendment Date occurs after the first day of the second (2nd) Lease Year, a prorated portion of “catch-up” Rent payment in the amount of the monthly installment product of Supplemental Rent for (1) Five Hundred Ninety-Four Thousand Three Hundred Seventy-Five and No/100 Dollars ($594,375.00) multiplied by (2) a fraction, (I) the month in numerator of which the Amendment Date occurs shall be paid by Tenant for the period from the Amendment Date until the last day of such calendar month, based on is the number of calendar days during such period that have commenced from and after the beginning of the second (provided, however, that if Tenant pays or has paid (as an Imposition2nd) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii)).Year and

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, Tenant shall pay a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding succeeding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to (d) Payment of Rent following Commencement of Variable Rent. From the contrary in commencement of the foregoing sentenceeighth (8th) Lease Year and continuing until the Expiration Date, (i) no Supplemental both Base Rent and Variable Rent during any Lease Year shall be payable with respect in consecutive monthly installments equal to one-twelfth (1/12th) of the period prior to Base Rent and Variable Rent amounts for the Amendment Date, (ii) applicable Lease Year on the Amendment Date, the amount first (1st) day of each remaining monthly installment of Rent in calendar month (or the Lease Year in which immediately succeeding Business Day if the Amendment Date occurs first (i.e., each installment of Rent payable in such Lease Year after the Amendment Date1st) shall be recalculated to give effect to the addition of Supplemental Rent as a component of Rent (as effectuated by the amendments to this Lease on the Amendment Date) and (iii) on the Amendment Date, a prorated portion day of the amount of the monthly installment of Supplemental Rent month is not a Business Day), in advance for the month in which the Amendment Date occurs shall be paid by Tenant for the period from the Amendment Date until the last day of such calendar month, based on the number of days during such period (that Lease Year; provided, however, that for each month where Variable Rent is payable but the amount thereof depends upon calculation of Net Revenue not yet known (e.g., the first few months of the eighth (8th) Lease Year, the eleventh (11th) Lease Year, and (if applicable) the first (1st) Lease Year of each Renewal Term), the amount of the Variable Rent payable monthly in advance shall remain the same as in the immediately preceding month, and provided, further, that Tenant pays shall make a payment to Landlord (or has paid be entitled to set off against its Rent payment due, as applicable) on the first (as an Imposition1st) rent under day of the Prior Octavius Ground Lease in respect calendar month (or the immediately succeeding Business Day if the first (1st) day of the month is not a Business Day) following the completion of such period, then such payment shall be credited calculation in full against the amount due under necessary to “true-up” any underpayments or overpayments of Variable Rent for such interim period. Tenant shall complete such calculation of Net Revenue as provided in Section 3.2 of this clause Lease. (iiie)).

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the Amendment Date, (ii) on the First Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the First Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the First Amendment Date) shall be recalculated to give effect to the addition of Supplemental changes to Rent as a component of Rent (as effectuated by the amendments to this Lease on the First Amendment Date) Date and (iiiii) on the First Amendment Date, if the First Amendment Date occurs after the first (1st) day of the second (2nd) Lease Year, a prorated portion of “catch-up” Rent payment in the amount of the monthly installment product of Supplemental Rent for (1) Five Hundred Ninety-Four Thousand Three Hundred Seventy-Five and No/100 Dollars ($594,375.00) multiplied by (2) a fraction, (I) the month in numerator of which is the Amendment Date occurs number of calendar days that have commenced from and after the beginning of the second (2nd) Lease Year and (II) the denominator of which is three hundred sixty-five (365), shall be paid by Tenant for Tenant, which “catch-up” payment represents incremental Rent that would have been due had the period from changes to the definition of Rent effectuated by the amendments to this Lease on the First Amendment Date until been effective on the last first (1st) day of such calendar month, based on the number of days during such period second (provided, however, that if Tenant pays or has paid (as an Imposition2nd) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii))Year.

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the Amendment Date, (ii) on the Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the Amendment Date) shall be recalculated to give effect to the addition of Supplemental changes to Rent as a component of Rent (as effectuated by the amendments to this Lease on the Amendment Date) Date and (iiiii) on the Amendment Date, if the Amendment Date occurs after the first day of the second (2nd) Lease Year, a prorated portion of “catch-up” Rent payment in the amount of the monthly installment product of Supplemental Rent for (1) Five Hundred Ninety-Four Thousand Three Hundred Seventy-Five and No/100 Dollars ($594,375.00) multiplied by (2) a fraction, (I) the month in numerator of which is the Amendment Date occurs number of calendar days that have commenced from and after the beginning of the second (2nd) Lease Year and (II) the denominator of which is three hundred sixty-five (365), shall be paid by Tenant for Tenant, which “catch-up” payment represents incremental Rent that would have been due had the period from changes to the definition of Rent effectuated by the amendments to this Lease on the Amendment Date until been effective on the last first day of such calendar month, based on the number of days during such period second (provided, however, that if Tenant pays or has paid (as an Imposition2nd) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii))Year.

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the Amendment Date, (ii) on the First Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the First Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the First Amendment Date) shall be recalculated to give effect to the addition of Supplemental changes to Rent as a component of Rent (as effectuated by the amendments to this Lease on the First Amendment Date) Date and (iiiii) on the First Amendment Date, if the First Amendment Date occurs after the first (1st) day of the second (2nd) Lease Year, a prorated portion of “catch- up” Rent payment in the amount of the monthly installment product of Supplemental Rent for (1) Five Hundred Ninety-Four Thousand Three Hundred Seventy-Five and No/100 Dollars ($594,375.00) multiplied by (2) a fraction, (I) the month in numerator of which is the Amendment Date occurs number of calendar days that have commenced from and after the beginning of the second (2nd) Lease Year and (II) the denominator of which is three hundred sixty-five (365), shall be paid by Tenant for Tenant, which “catch-up” payment represents incremental Rent that would have been due had the period from changes to the definition of Rent effectuated by the amendments to this Lease on the First Amendment Date until been effective on the last first (1st) day of such calendar month, based on the number of days during such period second (provided, however, that if Tenant pays or has paid (as an Imposition2nd) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii))Year.

Payment of Rent until Commencement of Variable Rent. On the Commencement Date, a prorated portion of the first monthly installment of Rent shall be paid by Tenant for the period from the Commencement Date until the last day of the calendar month in which the Commencement Date occurs, based on the number of days during such period. Thereafter, for the first seven (7) Lease Years, Rent shall be payable by Tenant in consecutive monthly installments equal to one-twelfth (1/12th) of the Rent amount for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year. Notwithstanding anything to the contrary in the foregoing sentence, (i) no Supplemental Rent shall be payable with respect to the period prior to the Amendment Date, (ii) on the Amendment Date, the amount of each remaining monthly installment of Rent in the Lease Year in which the Amendment Date occurs (i.e., each installment of Rent payable in such Lease Year after the Amendment Date) shall be recalculated to give effect to the addition of Supplemental Rent as a component of Rent (as effectuated by the amendments to this Lease on the Amendment Date) and (iii) on the Amendment Date, a prorated portion of the amount of the monthly installment of Supplemental Rent for the month in which the Amendment Date occurs shall be paid by Tenant for the period from the Amendment Date until the last day of such calendar month, based on the number of days during such period (provided, however, that if Tenant pays or has paid (as an Imposition) rent under the Prior Octavius Ground Lease in respect of such period, then such payment shall be credited in full against the amount due under this clause (iii)).. 50 (c) Payment of Rent following Commencement of Variable Rent. From the commencement of the eighth (8th) Lease Year and continuing until the Expiration Date, Base Rent, Variable Rent and Supplemental Rent during any Lease Year shall be payable in consecutive monthly installments equal to one-twelfth (1/12th) of the Base Rent, Variable Rent and Supplemental Rent amounts for the applicable Lease Year on the first (1st) day of each calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day), in advance for such calendar month, during that Lease Year; provided, however, that for each month where Variable Rent is payable but the amount thereof depends upon calculation of Net Revenue not yet known (e.g., the first few months of the eighth (8th) Lease Year, the eleventh (11th) Lease Year, and (if applicable) the first (1st) Lease Year of each Renewal Term), the amount of the Variable Rent payable monthly in advance shall remain the same as in the immediately preceding month, and provided, further, that Tenant shall make a payment to Landlord (or be entitled to set off against its Rent payment due, as applicable) on the first (1st) day of the calendar month (or the immediately preceding Business Day if the first (1st) day of the month is not a Business Day) following the completion of such calculation in the amount necessary to “true-up” any underpayments or overpayments of Variable Rent for such interim period. Tenant shall complete such calculation of Net Revenue as provided in Section 3.2 of this Lease. (d)