Rent Credit. Subject to the terms and conditions of this Paragraph 14.4, Sublessee shall be entitled to apply an amount up to (but not in excess of) One Million Nine Hundred Forty-Nine Thousand Five Hundred Twenty Dollars ($1,949,520.00) of Completion Costs (as defined in Section 11.B of Exhibit X to the Master Lease, as incorporated herein) incurred by Sublessee in constructing the Tenant Improvements as a credit against Monthly Base Rent due under this Sublease (the “Rent Credit”). To be eligible to commence and continue to receive the Rent Credit, both the Tenant Improvement Work and related Close-Out Package (as defined in Section 11.J of Exhibit X to the Master Lease, as incorporated herein) for such work must be completed by Sublessee and approved by Sublessor (which approval by Sublessor shall not be unreasonably withheld) and Master Lessor by no later than the last day of the twelfth (12th) month following the date of commencement of the Early Access Period (which period shall be extended by one (1) day for each day that the Substantial Completion of the Tenant Improvement Work is delayed beyond such 12-month-period by any Force Majeure Delay (as such term is defined in Section N of the Exhibit X to the Master Lease) or a Landlord Caused Delay, and as such delays may be determined in accordance with the provisions of Section N to Exhibit X of the Master Lease, as incorporated herein under Paragraph 22.1 below) and as further modified by Section 14.3; it being understood that Sublessee’s failure to timely and properly satisfy the foregoing condition in full shall terminate Sublessee’s right to receive the Rent Credit and render the Rent Credit void and of no further force or effect. Further, Sublessee shall have no right to receive any portion of the Rent Credit during any period of time that an uncured event of default by Sublessee then exists under this Sublease.
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.
Rent Credit. During the period (the “Rent Credit Period”) commencing on the first (1st) day of Lease Month 2 and ending on the last day of Lease Month 17, Tenant shall receive a credit each Lease Month in the amount of seventy-five percent (75%) of the Monthly Rent (the “Rent Credit”) on account of the Monthly Rent payable under this Lease for each such Lease Month; provided, however, that during Rent Credit Period, Tenant shall be required to pay the full Additional Rent owing under Paragraphs 7.a. and 7.b. hereof, the Parking Space Rental specified in Paragraph 53 below and the remaining portion of the Monthly Rent owing for such Lease Month (i.e., twenty-five percent (25%) of the Monthly Rent each Lease Month) during such period. Landlord and Tenant acknowledge that the aggregate amount of the Monthly Rent that will be abated during the Rent Credit Period equals $626,506 per month for Lease Months 2-12 and $645,301 per month for Lease Months 13-17 for a total amount of $10,118,068 during the Rent Credit Period. Tenant acknowledges and agrees that the foregoing Rent Credit has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Monthly Rent and perform the terms and conditions otherwise required under this Lease. Notwithstanding the foregoing, Tenant shall not be entitled to the Rent Credit during any period that an Event of Default is continuing hereunder.
Rent Credit. (a) Subject to Tenant Delay (as defined below) and Force Majeure, if Landlord shall have failed to substantially complete the Premises Base Building Work by December 15, 2001 (the “Premises Rent Credit Commencement Date”) and if such failure materially interferes with or prohibits Tenant from performing Tenant’s Work, or from obtaining any permits or approvals necessary for performing or completing Tenant’s Work, Tenant shall receive a credit equal to one (1) days’ worth of Basic Rent for each day beyond the Premises Rent Credit Commencement Date that substantial completion of the Premises Base Building Work is delayed. Subject to Tenant Delay and Force Majeure, if Landlord shall have failed to substantially complete the Premises Base Building Work by January 1, 2002 and if such failure materially interferes with or prohibits Tenant from performing Tenant’s Work, or from obtaining any permits or approvals necessary for performing or completing Tenant’s Work, Tenant shall receive a credit equal to two (2) days’ worth of Basic Rent for each day beyond January 1, 2002 that substantial completion of the Premises Base Building Work is delayed. For purposes of this Lease, “
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. 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. For the month of November 2009 only, Tenant shall receive a credit against the Base Monthly Rent in the amount of $120,557.20.
Rent Credit. 53. 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. Effective as of the Execution Date, Landlord shall provide Tenant with a Rent credit in an amount equal to Twenty-Eight Thousand Two Hundred Fifty-Three and 10/100 Dollars ($28,253.10) (the “Rent Credit”).
Rent Credit. Landlord will provide Tenant with a rent credit equal to one (1) monthly installment of the current Base Rent, which the parties agree is the amount of $4,936.46 (“Rent Credit”). The Rent Credit shall automatically be credited against the first full monthly installment of accruing Base Rent due and payable under the Lease.
