Common use of Rent Abatement Purchase Clause in Contracts

Rent Abatement Purchase. Landlord and Tenant acknowledge that the Lease provides to Tenant a period from the Lease Commencement Date to the date that is two hundred forty (240) days after the Lease Commencement Date (the "Rent Abatement Period") during which Tenant is in possession of the Premises without an obligation to pay Base Monthly Rent. The Base Monthly Rent that would have been paid during the Rent Abatement Period is set forth on Schedule 1 and is based on the same square footage rental rate as payable on the Base Rent Commencement Date (the "Rent Abatement"). At any time during the Rent Abatement Period, upon at least fifteen (15) days' prior written notice to Tenant, Landlord shall have the right to purchase any Rent Abatement relating to the remaining Rent Abatement Period by paying to Tenant an amount equal to the Rent Abatement Purchase Price. As used herein, the "Rent Abatement Purchase Price" shall mean the present value of the Rent Abatement remaining during the Rent Abatement Period, as of the date of payment of the Rent Abatement Purchase Price by Landlord. Such present value shall be calculated by discounting the portion of the full Base Monthly Rent attributable to the remaining days in the Rent Abatement Period using eight percent (8%) as the annual discount rate. Upon Landlord's payment of the Rent Abatement Purchase Price to Tenant, Tenant shall be required to pay Base Monthly Rent in the amounts set forth in Schedule 1 for each month (or partial month) after such payment until the date that is two hundred forty (240) days after the Lease Commencement Date and there shall be no further Rent Abatement.

Rent Abatement Purchase. Landlord and Tenant acknowledge that the Lease provides to Tenant a period from the Lease Commencement Delivery Date to the date that is two hundred forty (240) days after the Lease Base Rent Commencement Date (the "“Rent Abatement Period"”) during which Tenant is in possession of the Premises without an obligation to pay Base Monthly Rent. The abated Base Monthly Rent that would have been paid during the Rent Abatement Period is set forth on Schedule 1 Exhibit H and is based on the same square footage rental rate as payable on the Base Rent Commencement Date (the "“Rent Abatement"”). At any time during the Rent Abatement Period, upon at least fifteen (15) days' prior written notice to Tenant, Landlord shall have the right to purchase any Rent Abatement relating to the remaining Rent Abatement Period by paying to Tenant an amount equal to the Rent Abatement Purchase Price. As used herein, the "“Rent Abatement Purchase Price" ” shall mean the present value of the Rent Abatement remaining during the Rent Abatement Period, Period as of the date of payment of the Rent Abatement Purchase Price by Landlord. Such present value If Landlord exercises its right to purchase the Rent Abatement effective as of a date other than the 1st day of any month during the Rent Abatement Period, the Rent Abatement Purchase Price shall be calculated by discounting prorated for the portion period of time in which the full right to purchase is exercised and Tenant shall pay Base Monthly Rent attributable to on a prorated basis for the remaining days in such month after the effective date of the exercise of such purchase right. For the avoidance of doubt, in no event shall Tenant’s aggregate obligation to pay Base Rent during the remaining Rent Abatement Period following the purchase of the Rent Abatement be in excess of (a) the amount of Base Rent due under the Lease for such remaining Rent Abatement Period using eight percent and (8%b) as the annual discount rate. Upon Landlord's payment amount of the Rent Abatement Purchase Price paid by Landlord to Tenant, Tenant shall be required to pay Base Monthly Rent in the amounts set forth in Schedule 1 for each month (or partial month) after such payment until the date that is two hundred forty (240) days after the Lease Commencement Date and there shall be no further Rent Abatement.

Rent Abatement Purchase. Landlord and Tenant acknowledge that the Lease provides to Tenant a period from the Lease Commencement Date to the date that is two hundred forty (240) days after 6th full calendar month of the Lease Commencement Date Term (the "“Rent Abatement Period"”) during which Tenant is in possession of the Premises without an obligation to pay Base Monthly RentRent in full or in part. The Base Monthly Rent that would have been paid during the Rent Abatement Period is set forth on Schedule 1 and is based on the same square footage rental rate as payable on the Base Rent Commencement Date through the 6th full calendar month of the Term (the "“Rent Abatement"”). At any time during the Rent Abatement Period, upon at least fifteen (15) days' prior written notice to Tenant, Landlord shall have the right to purchase any Rent Abatement relating to the remaining Rent Abatement Period by paying to Tenant an amount equal to the Rent Abatement Purchase Price. As used herein, the "“Rent Abatement Purchase Price" ” shall mean the present value of the Rent Abatement remaining during the Rent Abatement Period, as of the date of payment of the Rent Abatement Purchase Price by Landlord. Such present value shall be calculated by discounting the portion of the full Base Monthly Rent attributable to the remaining days in the Rent Abatement Period using eight percent (8%) as the annual discount rate. Upon Landlord's ’s payment of the Rent Abatement Purchase Price to Tenant, Tenant shall be required to pay Base Monthly Rent in the amounts set forth in Schedule 1 for each month (or partial month) after such payment until the date that is two hundred forty (240) days after 7th full calendar month of the Lease Commencement Date Term and there shall be no further Rent Abatement.

Rent Abatement Purchase. Landlord and Tenant acknowledge that the Lease provides to Tenant a period from the Lease Term Commencement Date to the date that is two hundred forty (240) days after the Lease Base Rent Commencement Date (the "“Rent Abatement Period"“) during which Tenant is in possession of the Premises without an obligation to pay Base Monthly Rent. The abated Base Monthly Rent that would have been paid during the Rent Abatement Period is set forth on Schedule 1 Exhibit H and is based on the same square footage rental rate as payable on the Base Rent Commencement Date (the "“Rent Abatement"“). At any time during the Rent Abatement Period, upon at least fifteen (15) days' prior written notice to Tenant, Landlord shall have the right to purchase any Rent Abatement relating to the remaining Rent Abatement Period by paying to Tenant an amount equal to the Rent Abatement Purchase Price. As used herein, the "“Rent Abatement Purchase Price" “ shall mean the present value of the Rent Abatement remaining during the Rent Abatement Period, Period as of the date of payment of the Rent Abatement Purchase Price by Landlord. Such present value If Landlord exercises its right to purchase the Rent Abatement effective as of a date other than the 1st day of any month during the Rent Abatement Period, the Rent Abatement Purchase Price shall be calculated by discounting prorated for the portion period of time in which the full right to purchase is exercised and Tenant shall pay Base Monthly Rent attributable to on a prorated basis for the remaining days in such month after the effective date of the exercise of such purchase right. For the avoidance of doubt, in no event shall Tenant’s aggregate obligation to pay Base Rent during the remaining Rent Abatement Period following the purchase of the Rent Abatement be in excess of (a) the amount of Base Rent due under the Lease for such remaining Rent Abatement Period using eight percent and (8%b) as the annual discount rate. Upon Landlord's payment amount of the Rent Abatement Purchase Price paid by Landlord to Tenant, Tenant shall be required to pay Base Monthly Rent in the amounts set forth in Schedule 1 for each month (or partial month) after such payment until the date that is two hundred forty (240) days after the Lease Commencement Date and there shall be no further Rent Abatement.

Rent Abatement Purchase. Landlord and Tenant acknowledge that the Lease provides to Tenant a period from the Lease Commencement Date to the date that is two hundred forty (240) days after 25th full calendar month of the Lease Commencement Date Term (the "“Rent Abatement Period"”) during which Tenant is in possession of the Premises without an obligation to pay Base Monthly RentRent in full or in part. The Base Monthly Rent that would have been paid during the Rent Abatement Period is set forth on Schedule 1 and is based on the same square footage rental rate as payable on the Base Rent Commencement Date through the 25th full calendar month of the Term (the "“Rent Abatement"”). At any time during the Rent Abatement Period, upon at least fifteen (15) days' prior written notice to Tenant, Landlord shall have the right to purchase any Rent Abatement relating to the remaining Rent Abatement Period by paying to Tenant an amount equal to the Rent Abatement Purchase Price. As used herein, the "“Rent Abatement Purchase Price" ” shall mean the present value of the Rent Abatement remaining during the Rent Abatement Period, as of the date of payment of the Rent Abatement Purchase Price by Landlord. Such present value shall be calculated by discounting the portion of the full Base Monthly Rent attributable to the remaining days in the Rent Abatement Period using eight percent (8%) as the annual discount rate. Upon Landlord's ’s payment of the Rent Abatement Purchase Price to Tenant, Tenant shall be required to pay Base Monthly Rent in the amounts set forth in Schedule 1 for each month (or partial month) after such payment until the date that is two hundred forty (240) days after 26th full calendar month of the Lease Commencement Date Term and there shall be no further Rent Abatement.