Abated Rent definition

Abated Rent is defined in Section 15.2(g).

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Abated Rent means base rent for which tenants have received abatement credit, but only to the extent that such abatement credit is consistent with the criteria set forth on Schedule 1.1.1.

Abated Rent shall have the meaning as set forth in Section 5.1.2.

Examples of Abated Rent in a sentence

• If Tenant defaults and does not cure within any applicable grace period, the Abated Rent shall immediately become due and payable in full and this Lease shall be enforced as if there were no such rent abatement or other rent concession.

• In such case Abated Rent shall be calculated based on the full initial rent payable under this Lease.

• Tenant acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Tenant's full, faithful and punctual performance of its obligations under this Lease.

• If this Lease provides for a postponement of any monthly rental payments, a period of "free" rent or other rent concession, such postponed rent or "free" rent is called the "Abated Rent".

• Tenant acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Tenant’s full, faithful and punctual performance of its obligations under this Lease.

• In such case, Abated Rent shall be calculated based on the full initial rent payable under this Lease.

• Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if Tenant has fully, faithfully, and punctually performed all of Tenant's obligations hereunder, including the payment of all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease.

• Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if ▇▇▇▇▇▇ has fully, faithfully, and punctually performed all of Tenant's obligations hereunder, including the payment of all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease.

• Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if Tenant has fully, faithfully, and punctually performed all of Tenant’s obligations hereunder, including the payment of all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease.

• Lessee acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon ▇▇▇▇▇▇'s full, faithful and punctual performance of its obligations under this Lease.

More Definitions of Abated Rent

Abated Rent means the total amount of Base Rent abated by Landlord during the Abatement Periods pursuant to the foregoing provisions of this Section 5.1. During the Abatement Periods, Tenant shall remain responsible for the payment of all of its other monetary obligations under this Lease. In the event of an Event of Default by Tenant under the terms of this Lease that results in the early termination of this Lease pursuant to the provisions of Article 24 below, then as a part of the recovery set forth in Article 24 below, Landlord shall be entitled to the recovery of the unamortized portion of the Abated Rent. For purposes of this Section 5.1, Abated Rent shall be amortized on a straight-line basis over the scheduled one hundred thirty (130) month initial Term of this Lease, and the unamortized portion thereof shall be determined based upon the unexpired portion of such initial Term of this Lease as of the date of such early termination.

Abated Rent as used in this Lease is defined in Paragraph 5(a) of the Summary.

Abated Rent. Minimum Rent, in the amount of Three Hundred Thousand ($300,000) per Lease Year, shall be abated for a period of two (2) years. Such abatement shall be applied against Tenant’s monthly minimum rent obligation at the rate of $25,000.00 per month so that Tenant shall only be obligated to pay monthly minimum rent at the rate of $15,000.00 per month for the first two (2) years.

Abated Rent. If a monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs at any time during the Term, then (i) at Landlord’s option, all then-unamortized portions of the Abated Rent (assuming amortization of Abated Rent on a straight-line basis over the Term) previously credited to Tenant shall become due and payable to Landlord; and (ii) if the monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs prior to the expiration of an Abatement Period, then, from and after the occurrence of such Event of Default, there shall be no further abatement of Base Rent pursuant to this Section 4(b) unless and until Tenant cures such Event of Default and Landlord accepts such cure in lieu of exercising its remedies under Section 18(a) or Section 18(b) of this Lease (in which event, the Rent Abatement Period will not be suspended or extended as a result thereof, but Tenant shall be entitled to any remaining portion of the originally scheduled Abatement Period as of the date Tenant cures such Event of Default and Landlord accepts the same). No such recapture by Landlord of Abated Rent pursuant to clause (i) above shall constitute a waiver of any Event of Default of Tenant or any election of remedies by Landlord. For the avoidance of doubt, all Rent other than the Phase I Base Rent remains payable during the Phase I Premises Abatement Period and is not subject to abatement, and all Rent other than the Phase II Premises Base Rent remains payable during the Phase II Premises Abatement Period and is not subject to abatement.

Abated Rent is defined in Section 15.2(g). “ADA” is defined in Section 11.1. “Additional Rent” is defined in Section 5.3. “Alterations” is as defined in Section 9.3.

Abated Rent. ________________________________________ Commencement Date: ________________________________________ Rent Start Date: ________________________________________ Operating Expense Start Date: ________________________________________ Expiration Date: ________________________________________ Renewals: ________________________________________ Except as specified in Section(s) ______________________ of the Lease (copy attached), we have no option or right to cancel the Lease or to lease additional space in the Premises or the Property. We have made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent, partial rent, rebate of rental payments or any other similar rent concession except as specifically set forth above. We are not entitled to any credit against any rent or other charge under the Lease except as set forth in the Lease. No rental payments have been made more than one month in advance.