Examples of Rent Concession Period in a sentence
The insurance rent and service charge rent payable during the Rent Concession Period shall also be nil.
Thereafter, Compromised Lease Rent payable to the Category F Landlord under the Category F Lease from and including 1 November 2020 until the end of the Rent Concession Period shall be nil.
Rent Review 14.10 To the extent that the Category F Lease contains any rent review provisions that have either not yet been exercised or completed or would otherwise become effective prior to the expiry of the Rent Concession Period, such rent review provisions will not have any effect on the level of rent paid for the period from the Effective Date until the expiry of the Rent Concession Period.
To the extent that the Category E Lease contains any rent review provisions that have either not yet been exercised or completed or would otherwise become effective prior to the expiry of the Rent Concession Period, such rent review provisions will not have any effect on the level of rent paid for the period from the Effective Date until the expiry of the Rent Concession Period.
The Compromised Lease Rent payable to each Category E Landlord under each Category E Lease during the Rent Concession Period shall be nil.
Tenant shall retain its Termination Option as described in Article 27.00 of the Original Lease as it relates to the entire Premises provided all unamortized amounts described in Subsection 27.02(d)(i) through (iv) (including the Rent abated during the Expansion Premises Rent Concession Period), plus the additional four (4) months of gross Rent shall also apply to the Expansion Premises.
Annual Rent during the Rent Concession Period shall be calculated at $21.00 per rentable square foot of space in the Premises.
In the event that Landlord is delayed in delivering possession of the Premises to Tenant by the Delivery Date, in addition to the Rent Concession Period, Tenant shall receive one (1) additional day of free Rent and Occupancy Costs for each day of delay.
Tenant’s obligation for payment of abated Annual Rent and Occupancy Costs not collected during the Rent Concession Period (which shall only apply if Tenant commits an Event of Default beyond any applicable notice and cure period and Landlord commences an action to recover Rent and/or possession of the Premises) shall be independent of and in addition to Landlord’s other damages pursuant to Article 19.00 of the Lease.
If there shall be any delay in the completion of Tenant’s Work due to a Landlord Delay as defined in Exhibit D of the Original Lease, then the Expansion Premises Rent Concession Period shall be extended by the number of days of any such Landlord Delay.