Rent Deferral. The following shall be added as a new Article 34 of the Lease:
34.01 Provided the below listed conditions are satisfied, Tenant shall, at its option, have the one time right, upon at least sixty (60) days written notice to Landlord (the “Deferral Notice”), to defer payment of the Monthly Base Rent (the “Deferred Rent”) for up to three (3) individual months; provided, however, that if Tenant shall defer Monthly Base Rent for more than one (1) month, such months shall not be consecutive. Interest at the rate of eleven percent (11%) per annum shall accrue on the Deferred Rent from and after the commencement of the rent deferral period, and such interest, together with the Deferred Rent, shall be due and payable on the date which immediately precedes the first anniversary of the commencement of the rent deferral period. The repayment of the Deferred Rent, together with the interest as stated above, shall be secured by a second priority lien (subject to liens, claims or encumbrances permitted by Section 9.8 of the ABL Facility (as in effect on the date hereof) on the interests of Tenant in its assets, which are subject to a first priority liens for a loan made by Xxxxx Fargo Bank, National Association, as agent, and lenders (collectively, “Tenant’s Lenders”), pursuant to an asset based credit facility, dated as of February 7, 2012, as amended, supplemented, modified, renewed or extended from time to time) made by and between Tenant and Tenant’s Lenders (the “ABL Facility”). The Deferral Notice shall contain the following: (i) the date on which such deferral will commence and (ii) a list of the months, with a maximum of three (3) individual months, that Tenant will defer paying Monthly Base Rent. Tenant shall have the right to defer Monthly Base Rent as set forth above provided the following conditions are satisfied:
(a) Tenant shall have granted to Landlord a perfected second priority security interest in the Collateral (as defined in the ABL Facility), which security interest shall not be junior to any other liens, claims or encumbrances except (1) the first priority security interest in favor of ABL Facility and (2) liens, claims or encumbrances permitted by Section 9.8 of the ABL Facility (as in effect on the date hereof);
(b) The execution and delivery of a security agreement and an intercreditor agreement (and, for the avoidance of doubt, no other security or collateral documents), in each case, shall be, in form and substance, reasonably satisfactory to L...
Rent Deferral. Landlord and Tenant agree to a [full or partial] deferral of the payment of rent for the months of March, April and May 2020 [add additional months or strike through any months that have already been paid] as stated in this Agreement. It is acknowledged and agreed that rent for these months is still owed. Landlord acknowledges that, under Executive Order D 2020 051, it is not legally entitled to assess late fees through May 30, 2020 (or longer, if the Executive Order is extended) and will not do so. The intent of this Agreement is to provide temporary assistance to Tenant due to the direct economic impact of the COVID-19 virus. In the event the Pandemic and its effects for Tenant continue into the month of June 2020, Tenant may apply for additional deferral and modification of this Agreement. Nothing herein shall require the Landlord to allow for continued deferral of rent.
Rent Deferral. Owner and Resident agree to a deferral of the payment of rent for the month of April 2020 as stated in this agreement. It is acknowledged and agreed that rent is still owed. Provided the terms of this agreement as fully complied with, Owner will waive late fees for the deferred payment. The intent of this Deferral is to provide temporary assistance to Resident due to the direct economic impact of the COVID-19 virus. In the event the Pandemic and its effects for Resident continue into the month of May 2020, Resident may apply for additional deferral and modification of this Agreement. Nothing herein shall require Owner to allow for continued deferral of rent.
Rent Deferral. Notwithstanding anything contained in Section 2.1 of the Lease Agreement to the contrary, during the period of time between December 1, 1999 and May 31, 2000 the Monthly Base Rent payable by Tenant to Landlord shall be reduced from $36,666.66 per month to $21,666.66 per month and during the period of time between June 1, 2000 through November 30, 2000, the Monthly Base Rent payable by Tenant to Landlord shall be increased to $51,666.66 per month. Subsequent to November 30, 2000, the Monthly Basic Rent shall be payable in accordance with the terms and provisions of Section 2.1 of the Lease Agreement.
Rent Deferral. Tenant shall be permitted to defer [***] percent of the Fixed Monthly Rent due in each of the following months: December 2024; January 2025; December 2025; January 2026; December 2026; January 2027; December 2027; January 2028; November 2028; December 2028 (collectively, the amount of Fixed Monthly Rent deferred shall be referred to herein as the “Rent Deferral Amount”). So long as Landlord has not terminated the Lease prior to the Termination Date in accordance with the terms and conditions of the Lease as a result of a material default of Tenant under the Lease beyond all applicable notice and cure periods, the entire Rent Deferral Amount shall be abated and forgiven as of the Termination Date; provided, however, that if Landlord has terminated the Lease prior to its then scheduled expiration date in accordance with the terms and conditions of the Lease as a result of a material default of Tenant under the Lease beyond all applicable notice and cure periods, then (a) Tenant shall pay to Landlord upon demand the entire Rent Deferral Amount due for the months of the Term prior to the occurrence of such material default (and may include such amounts in any claim for damages), and (b) Tenant shall not be entitled to any additional or future deferral of Fixed Monthly Rent.
Rent Deferral. If Isonics commences this Lease before receiving Adequate Funding, then Isonics may defer payment of Rent for the first three months of this Lease. In that event, Isonics will pay Rent at the rate of $40,000 per month for the remaining nine months of the initial term of this Lease.
Rent Deferral. Tenant is hereby entitled to defer payment of the monthly Base Rent otherwise accrued and due for the months of December 2001 and January 2002 (the “Rent Deferral”).
Rent Deferral. The parties agree to waive the "Rent Deferral" as described in Paragraph C. of the Recycle Agreement.
Rent Deferral. Landlord shall defer % of the Minimum Rent payment due by Tenant on April 1, 2020 and May 1, 2020 in the total amount of $ (“Deferred Rent”). In addition to the regular payment of Minimum Rent due under the Lease, Tenant shall pay the Deferred Rent in six (6) consecutive equal monthly installments of $ (“Monthly Deferred Rent”) each to Landlord on December 1, 2020, January 1, 2021, February 1, 2021, March 1, 2021, April 1, 2021, and May 1, 2021.
Rent Deferral. So long as Tenant and Landlord or Atrium Landlord, as applicable, are negotiating the terms of the Fifth Amendment and/or Atrium Lease, all rent
1. otherwise due under the Lease for the period commencing on January 1, 2004 and ending on December 31, 2004, shall be deferred until the Fifth Amendment and Atrium Lease are entered into by Tenant and Landlord and Atrium Landlord, as applicable, at which point the Fifth Amendment shall be deemed to control and be retroactive to January 1,
