Free Rent definition

Free Rent means the amount of base rent and tenant reimbursements that are abated according to the applicable lease agreement(s).

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Free Rent means the period at inception of a tenant's lease during which the tenant does not pay base rent and operating expenses, as provided for under the lease agreement.

Free Rent shall have the meaning set forth in Section 8.10(a) hereof.

Examples of Free Rent in a sentence

• Free Rent and Rental Abatements: A schedule of all free rent or rental abatement activity should be included in the monthly accounting package.

• Upon the occurrence of any Default, the Free Rent Period shall immediately expire, and Tenant shall no longer be entitled to any further abatement of Base Rent pursuant to this Section.

• At the conclusion of the Free Rent Period, this Section 4.15 shall have no further force or effect.

• In the event of a Tenant Delay, Landlord’s obligation to deliver Substantial Completion may, at Landlord’s option, be extended by one (1) day for each day of a Tenant Delay and Rent shall commence on the scheduled Commencement Date or as the case may be Free Rent will be reduced on a day for day basis for each day of Tenant Delay.

• During the First Amendment Premises Free Rent Period, the Property Management Fee shall be calculated as if Tenant were paying Base Rent in the full amount required pursuant to the Lease had the First Amendment Premises Free Rent Period not been in effect.

More Definitions of Free Rent

Free Rent. Landlord’s Work: Free Rent: Tenant shall receive an Allowance in the form of Free Rent for the first Four (4) months of the term of the Lease. Tenant shall pay CAM and Taxes during Free Rent period. Unit to be left in broom clean condition free of furniture, dirt, and debris.

Free Rent. Notwithstanding the Fixed Rent set forth above, so long as Tenant is not in default (beyond any applicable notice or cure period) under any of the terms and conditions of this Lease, Tenant shall be entitled to an abatement of the monthly installments of Fixed Rent, or so-called “free rent” period, for the first six (6) months of the Term (the “Free Rent Period”). Tenant shall be responsible for the payment of Operating Expenses and Taxes as and to the extent provided in this Lease Option Periods: Two extension periods of five (5) years. Premises: The portion of the Building (as defined above) located on the second (2nd) floor, and shown as outlined on Exhibit A attached hereto. Rentable Floor Area of the Premises: Approximately 20,730 rentable square feet. Rentable Floor Area of the Building: Approximately 38,637 rentable square feet Permitted Use: First-class office space, and no other use Security Deposit Amount: $122,410.65.

Free Rent is called the "Abated Rent". 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 and Additional Rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Premises in the physical condition required by this Lease. Tenant acknowledges that its right to receive credit for Abated Rent is absolutely conditioned upon Tenant's full, faithful and punctual performance of its obligations under this Lease. 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.

Free Rent as referenced below the Basic Rent table in Section 1.1 of the Lease shall be defined as follows:

Free Rent. Lessee shall pay no rent on 28,106 square feet (the total ---------- premises on the first and second floors) during the period December 1,1995 through March 31,1996.

Free Rent. Fact Sheet, and Tax Aspects of Leasing Farmland Fact Sheet. This fact sheet summarizes the more common methods to determine the rent in farm lease agreements. For an excellent, in-depth discussion of farm rent, see How to Determine the Right Farm Rental Rate published by the University of Vermont.

Free Rent means a forgiveness of the Land Rent, as prorated on a daily basis for the period described.