Base Annual Rent definition
Examples of Base Annual Rent in a sentence
Tenant hereby waives all claims for damages or abatement of Base Annual Rent and Additional Rent because of such repairing, alteration, removal, reconstruction, or improvement.
In the event that only a portion of any Leased Property is rendered untenantable or incapable of such use, the Base Annual Rent payable hereunder in respect thereof shall be reduced proportionately considering the extent to which the Tenant is unable to practicably use the Leased Property for Business.
If Tenant shall fail to exercise the right to rescind within such five (5) day period, the election to extend shall be irrevocable and the Fair Market Rent so determined shall be the Base Annual Rent during the Second Extension Term notwithstanding any changes in the market rental rates, whether upward or downward, which may occur after such determination.
However, notwithstanding anything else in this Agreement, Fair Market Rent shall become the Base Annual Rent (as defined hereafter) and shall be subject to Base Annual Rent Adjustments as set forth in Section 2.04.
In addition to any other remedies available to it hereunder or at law or in equity, Landlord may retain all Base Annual Rent, Additional Rent and other sums paid by Tenant hereunder, including any security deposit, if any, to be applied to damages of Landlord incurred as a result of such repudiation, including, without limitation, all damages and remedies reserved to Landlord in this Section 12 or elsewhere in this Lease, as applicable.