Rent Credit. Subject to the terms of this Section 10.3, if (I) (i) Landlord fails to perform Landlord’s covenants hereunder, (ii) Landlord interrupts or curtails the level of service provided by Building Systems as contemplated by Section 10.2 hereof, or (iii) Landlord performs repairs, alterations, improvements, additions or restorations in the Building, and (II) Tenant, by reason of the event described in clause (I) above, is unable for at least fifteen (15) consecutive Business Days to operate Tenant’s business in the Premises (or a portion thereof) in substantially the same manner that Tenant conducted its business prior to such event, then Tenant shall be entitled to a credit to apply against the Fixed Rent thereafter coming due hereunder in an amount equal to the product obtained by multiplying (A) the quotient obtained by dividing (a) the sum of the Fixed Rent for the Premises, by (b) three hundred sixty-five (365) (or three hundred sixty-six (366) in a leap year), by (c) the number of square feet of Rentable Area in the Premises, by (B) the number of square feet of Rentable Area of the portion of the Premises which is unusable, as aforesaid, by (C) the number of days in the period commencing on (and including) the date immediately following the date that is fifteen (15) Business Days after the event that is described in clause (I) above and ending on the date that such portion of the Premises becomes usable. If (x) Tenant is entitled to a credit against Rental pursuant to this Section 10.3, and (y) the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). This Section 10.3 shall not apply in respect of the occurrence of a fire or other casualty or in respect of a condemnation. This Section 10.3 shall not limit the provisions of Section 5.2 hereof.
Rent Credit. The Commencement Date shall not be postponed if the Landlord Work in the Premises is not substantially completed as of the Commencement Date. (The date that the Landlord Work in the Premises is substantially completed, as described in Subsection 4 below, is defined as the "Substantial Completion Date"). However, if the Substantial Completion Date has not occurred on or before ninety (90) days after the later of (a) the date the final Plans (as defined in EXHIBIT D) have been approved by Landlord and Tenant and (b) the date that Tenant executes and delivers this Lease and all prepaid rent and security deposits required hereunder to Landlord (the date which is 90 days after the later of the dates described in (a) and (b) above is referred to herein as the "Credit Completion Date"), then, following the Substantial Completion Date, Tenant shall be entitled to a rent abatement equal to one day of Base Rental (at the daily rate payable during the first month of the Lease Term) for every day in the period beginning on the Credit Completion Date and ending on the Substantial Completion Date. Landlord and Tenant acknowledge and agree that the Credit Completion Date shall be postponed by the number of days the Substantial Completion Date is delayed due to events of Force Majeure. Further, if Landlord shall be delayed in substantially completing the Landlord Work in the Premises as a result of any Tenant Delays (defined in Subsection 3 below), then, for purposes of determining the Substantial Completion Date, the date of substantial completion of the Landlord Work in the Premises shall be deemed to be the day that said Landlord Work would have been substantially completed absent any such Tenant Delay(s).
Rent Credit. If and so long as Tenant is not in default under this Lease beyond any grace period, Tenant shall be entitled to a rent credit in the amount of $49,728.00, to be applied against the first (1st) and second (2nd) monthly installments of fixed annual rent (without electricity) accruing under this Lease after the Commencement Date (as defined in Article 55), so that Tenant shall occupy the demised Premises free of such fixed annual rent for that period; except that Tenant shall nevertheless be obligated from and after the Commencement Date of the term, to pay additional rents hereunder and to make payment of the ERIF portion of the fixed annual rent due under Article 40 hereof, (anything in said Article 40 to the contrary notwithstanding). Anything contained hereinabove to the contrary notwithstanding, if Tenant at any time during the term of this Lease, breaches any material covenant, condition or provision of this Lease and fails to cure such breach within any applicable grace period, and provided that this Lease is terminated by Landlord because of such material default, then, in addition to all other damages and remedies herein provided and to which Landlord may be otherwise entitled, Landlord shall also be entitled to the repayment in full of any rent credit theretofore enjoyed by Tenant, which repayment Tenant shall make upon demand therefor provided , however, that the amount of such rent credit to be repaid hereunder shall be multiplied by a fraction, the denominator of which is one hundred twenty (120), and the numerator of which is the number of months, including portions thereof, remaining in the originally stated term of this Lease following such breach.
Rent Credit. Landlord shall provide Tenant a total credit which Tenant may use against Rent of $754,320 in accordance with the terms of this paragraph 11.
(a) Of this rental credit, $536,880 shall be available for use against Rent commencing on January 1, 2010.
(b) The sum of $153,820 shall be available for use against Rent commencing on September 1, 2012 provided that (i) Tenant may apply not more than $12,497.70 per month of such sum against Base Minimum Monthly Rent; and (ii)Tenant may offset against only 22.27% of any Additional Rent charged in a month.
(c) The sum of $63,620 shall be available for use against Rent on September 1, 2013 provided that (i) Tenant may apply not more than $5,431.38 per month of such sum against Minimum Monthly Base Rent, and (ii) Tenant may offset against only 8.43% of any additional rent charged in a month. No portion of the rent credit may be used while Tenant is in default under the Lease, with a default being deemed to exist during the cure period, if any, for such default. If the Lease is terminated due to a Tenant default, then Tenant’s right to any then unused rent credit shall terminate as well.
Rent Credit. Notwithstanding anything to the contrary hereinabove set forth, provided this Lease is in full force and effect, and Tenant is not in default under this Lease beyond any applicable grace or cure period, Tenant shall be entitled to a credit against the Rent for the period from the Commencement Date to the Rent Commencement Date, as well as for the 16th, 17th, 18th, 28th, 40th, and 52nd months following the Rent Commencement Date.
Rent Credit. Notwithstanding anything to the contrary hereinabove set forth, provided this Lease is in full force and effect and Tenant is not in default under this Lease, Tenant shall be entitled to a credit against the Rent for (i) the three (3) month period commencing on the Commencement Date and ending on the day immediately preceding the Rent Commencement Date in the aggregate amount of $46,350.00, which credit shall be applied against the Rent in three (3) equal monthly installments of $15,450.00 each, and (ii) the three (3) month period commencing on the first (1st) anniversary of the Commencement Date and ending on the day immediately preceding the first (1st) anniversary of the Rent Commencement Date in the aggregate amount of $46,350.00, which credit shall be applied against the Rent in three (3) equal monthly installments of $15,450.00 each. The foregoing rent credits shall be null and void "ab initio" if Landlord at any time terminates this Lease or re-enters or repossesses the Premises on account of any default of Tenant under this Lease, and Landlord shall be entitled to recover from Tenant, in addition to all other amounts Landlord is entitled to recover, the aggregate amount of the rent credit herein provided for.
Rent Credit. For the month of November 2009 only, Tenant shall receive a credit against the Base Monthly Rent in the amount of $122,656.56.
Rent Credit. In the event that the Tenant Allowance exceeds the Tenant Improvement Costs, Landlord shall promptly provide to Tenant a Fixed Rent credit in the amount of the difference between the actual Tenant Improvement Costs and the Tenant Allowance until repaid in full.
Rent Credit. So long as no default exists or is continuing hereunder, Tenant shall be entitled to a credit against Basic Annual Rent an amount equal to Two Thousand Three Hundred Thirty-Five Dollars ($2,335.00) per month for each of the 120 calendar months after the Term Commencement Date.
Rent Credit. If the costs of the Initial Installations equals or exceeds $210,105.00, then Tenant shall receive a credit against Rent equal to that portion, if any, of Landlord's Contribution not applied to the cost of the Initial Installations. The credit shall be applied to the Rent due and owing on or after the first day of the month following the final application of Landlord's Contribution to the cost of the Initial Installations and continuing until such rent credit has been fully applied.
