Rent Not Based on Income. (a) It is intended that all Rent payable by Tenant to Landlord, which includes all sums, charges, or amounts of whatever nature to be paid by Tenant to Landlord in accordance with the provisions of this Lease, shall qualify as “rents from real property” within the meaning of Section 512(b)(3) and 856(d) of the Internal Revenue Code (as amended, the “Code”) and the regulations thereunder (the “Tax Regulations”). If Landlord, in its sole discretion, determines that there is any risk that all or part of any Rent shall not qualify as “rents from real property” for the purposes of Sections 512(b)(3) or 856(d) of the Code and Tax Regulations, Tenant agrees to cooperate with Landlord by entering into such amendment or amendments to this Lease as Landlord deems necessary to qualify all Rent as “rents from real property”, provided, however, that any adjustments required under this Section shall be made so as to produce the equivalent (in economic terms) Rent as payable before the adjustment.
Appears in 5 contracts
Samples: Lease (Codiak BioSciences, Inc.), Non Disturbance, Attornment and Subordination Agreement (Codiak BioSciences, Inc.), Non Disturbance, Attornment and Subordination Agreement (Codiak BioSciences, Inc.)
Rent Not Based on Income. (a) 16.22.1 It is intended that all Rent payable by Tenant to Landlord, which includes all sums, charges, or amounts of whatever nature to be paid by Tenant to Landlord in accordance with the provisions of this Lease, shall qualify as “"rents from real property” " within the meaning of Section 512(b)(3) and 856(d) of the Internal Revenue Code (as amended, the “"Code”") and the regulations thereunder (the “"Tax Regulations”"). If Landlord, in its sole discretion, determines that there is any risk that all or part of any Rent shall not qualify as “"rents from real property” " for the purposes of Sections 512(b)(3) or 856(d) of the Code and Tax Regulations, Tenant Xxxxxx agrees to cooperate with Landlord by entering into such amendment or amendments to this Lease as Landlord deems necessary to qualify all Rent as “"rents from real property”", provided, however, that any adjustments required under this Section section shall be made so as to produce the equivalent (in economic terms) Rent as payable before the adjustment.adjustment and shall not increase Tenant's obligations under this Lease. 16.22.2
Appears in 1 contract
Samples: Lease (Acumen Pharmaceuticals, Inc.)
