Per Diem Base Rent definition

Per Diem Base Rent means the total rent that would be due and payable by Tenant to Landlord under the Lease for the applicable month as if the Rent Commencement Date occurred on the first day of such month, divided by the number of days in the applicable month. Landlord anticipates receiving a Certificate of Occupancy on all of the spaces in Building A except for the fourth (4th) floor of Building A on or before January 11, 2002. Landlord anticipates receiving a Certificate of Occupancy on the fourth (4th) floor of Building A on or before January 26, 2002. As used in subparagraphs (a) and (b) hereof, the term "Certificate of Occupancy" shall mean a certificate of occupancy (whether temporary or final) from the City of Dublin, California, with respect to the applicable space.
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Examples of Per Diem Base Rent in a sentence

  • For example, in the event Landlord delivers a Certificate of Occupancy for the cafeteria space on the first (1st) floor of Building B on January 4, 2002, instead of on January 2, 2002, then Tenant shall be entitled to receive a rent credit against the Base Rent due and owing for Building B in the amount equal to seventy-five percent (75%) of four (4) days of Per Diem Base Rent for the first (1st) floor, being the floor on which the cafeteria space is located.

  • In the event Landlord does not obtain a Certificate of Occupancy with respect to any of the applicable spaces referred to in subparagraph (a) or (b) hereof on or before the respective delivery dates set forth above, Tenant shall receive a rent credit against Base Rent due through February 2002 on a floor-by-floor basis in an amount equal to two (2) days of Per Diem Base Rent for such applicable space for each day of delay in delivering the applicable space times a factor of seventy-five percent (75%).