Scheduled Base Rent per annum for the Expansion Project shall be Sample Clauses

Scheduled Base Rent per annum for the Expansion Project shall be. (i) in years 1-5 of the Initial Term of the Expansion Lease, the Total Expansion Costs MULTIPLIED BY the sum of the Ten-Year Mortgage Money Rate at the beginning of the applicable lease year and three-hundred (300) basis points (the "INITIAL BASE RENT"); (ii) in years 6-10, an amount equal to 110% of the Initial Base Rent (the "STEPPED BASE RENT"); and (iii) if the Initial Term of the Expansion Lease is more than ten (10) years, in years 10 through the end of the term of the Expansion Lease, an amount equal to 110% of the most recent Stepped Base Rent, adjusted at the end of each five (5) year period. Notwithstanding the foregoing, if Scheduled Base Rent under this Lease is scheduled to increase under this Lease prior to the date for a Scheduled Base Rent increase under the Expansion Amendment, Scheduled Base Rent under the Expansion Amendment shall be increased by an amount equal to 0.167% times the number of months from substantial completion of the Expansion Project until the date of such rental increase. The term "TEN-YEAR MORTGAGE MONEY RATE" shall mean the mortgage interest rate (i.e., the amount of annual debt service, expressed as a percentage of the loan amount, that is necessary to pay interest) at the time such determination is being made associated with mortgage loans made available by one of the following institutional lenders for permanent loans from properties similar to the Expansion Project, with a maturity date of no less than ten (10) years: Metropolitan Life Insurance Company; Prudential Life Insurance Company; and The Principal Financial Group. If such mortgage interest rates at the above-named institutional lenders differ, Landlord may choose one of such interest rates. If any of such institutional lenders are not providing permanent financing for properties similar to the Expansion Project, then Landlord may substitute another comparable lender therefor. The term "TOTAL EXPANSION COSTS" shall mean all soft and hard costs incurred by Landlord in connection with the acquisition, design, construction and leasing of the Expansion Project, including, without limitation, all architectural, engineering, contractor, marketing, leasing, brokerage and legals fees and expenses, any interest expenses, tax insurance payments incurred during such construction process, the cost of landscaping and any loan or mortgage fees, and any other costs, fees or expenses incurred with such acquisition, construction and development. Amortized Improvement Repay...
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Related to Scheduled Base Rent per annum for the Expansion Project shall be

  • Annual Base Rent Except as otherwise provided in this Lease, in the event of a default by Landlord, Tenant shall be entitled to any remedies available at law or in equity except for the right to terminate or rescind the Lease. It is expressly understood and agreed to between the parties that except as specifically provided in this Lease, Tenant expressly, knowingly, and voluntarily waives any right, claim, or remedy otherwise available to Tenant to terminate or rescind this Lease as a result of Landlord's default as to any covenant or agreement contained in this Lease or as a result of the breach of any promise or inducement allegedly made on behalf of Landlord, whether in this Lease or elsewhere. No act or omission of Landlord or its agents shall constitute an actual or constructive eviction of Tenant unless Landlord shall have first received written notice of Tenant's claim and shall have failed to cure it after having been afforded a reasonable time to do so, which in no event shall be less than thirty (30) days. Notwithstanding anything in this Lease to the contrary, Landlord shall never be liable to Tenant in the event of a default by Landlord or otherwise under any provision of this Lease for any loss of business or profits or other consequential damages or for punitive or special damages of any kind. None of Landlord's officers, members, managers, employees, agents, directors, shareholders, or partners shall ever have any personal liability to Tenant under or in connection with this Lease. Tenant shall look solely to Landlord's estate and interest in the Office Center for the satisfaction of any right or remedy of Tenant under this Lease, or for the collection of any judgment (or other judicial process) requiring the payment of money by Landlord, it being intended that there will be absolutely no personal liability on the part of Landlord, and no other property or assets of Landlord or its principals shall be subject to levy, execution, or other enforcement procedure for the satisfaction of Tenant's rights or remedies under this Lease, the relationship of Landlord and Tenant under this Lease, Tenant's use and occupancy of the Premises, or any other liability of Landlord to Tenant of whatever kind or nature, this exculpation of liability to be absolute and without exception whatsoever.

  • Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

  • Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.

  • Annual Fixed Rent Tenant covenants and agrees to pay the Annual Fixed Rent in Section 1.1 to Landlord in advance in equal monthly installments commencing on the Term Commencement Date (if not the first day of a month) and thereafter on the first day of each calendar month during the Term. All payments shall be due without billing or demand and without deduction, setoff or counterclaim, except as expressly set forth in this Lease. Tenant shall make payment for any portion of a month at the beginning or end of the Term. All payments shall be payable to Landlord at Landlord’s address, as specified in Section 1.1, or to such other entities at such other places as Landlord may from time to time designate. Without limiting the foregoing, except as expressly set forth in this Lease, Tenant’s obligation so to pay Rent (as hereinafter defined) shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and, except as expressly set forth in this Lease, Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover Rent. The foregoing notwithstanding, if Landlord fails for any reason within Landlord’s control to provide any service to be supplied by Landlord under the Lease which is necessary for Tenant’s reasonable use of the Premises (such as HVAC, elevator service, electricity, water, or structural repairs), and Tenant is unable to use the Premises on account of such failure, Tenant shall be entitled to a proportional abatement of Annual Fixed Rent and Additional Charges for Operating Expenses and Taxes based on the portion of the Premises which cannot be used by Tenant. This abatement shall begin on the fourth (4th) consecutive Business Day from Tenant’s written notice to Landlord of the failure. The abatement shall end when the services are restored sufficiently to permit use of the Premises.

  • Payment of Base Rent Tenant agrees to pay the Base Rent for the Premises. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first Monthly Installment of Base Rent when Tenant executes the Lease.

  • Lease Period The Lessor agrees to permit the Lessee to make use of the leased premises under this agreement for the period prescribed in Appendix A.

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Extension Term The Term of the Lease is hereby extended for sixty (60) months and, therefore, the Term Expiration Date is hereby amended to mean January 14, 2023. The period commencing on January 15, 2018 (the “Extension Term Commencement Date”) and ending on the Term Expiration Date shall be referred to herein as the “Extension Term.”

  • Payment of Basic Rent Basic Rent shall be paid absolutely net to Lessor or its designee, so that this Lease shall yield to Lessor the full amount thereof, without setoff, deduction or reduction.

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