Rent Waiver definition
Examples of Rent Waiver in a sentence
In the event that the Rent Waiver Period does not end on the last day of a calendar month, then on the first day of the calendar month in which the Rent Waiver Period expires, Tenant shall pay to Landlord the amount of the Base Rent and Additional Rent for the portion of the calendar month that follows the last day of the Rent Waiver Period, pro-rated on a per diem basis.
Tenant covenants and agrees to pay the Annual Fixed Rent in Section 1.1 to Landlord in advance in equal monthly installments commencing on the Term Commencement Date (if not the first day of a month) (but subject to the Initial Fixed Rent Waiver Period) and thereafter on the first day of each calendar month during the Term.
In the event that a Rent Waiver Period does not end on the last day of a calendar month, then on the first day of the calendar month in which such Rent Waiver Period expires, Tenant shall pay to Landlord the amount of the Base Rent and Additional Rent for the portion of the calendar month that follows the last day of such Rent Waiver Period, pro-rated on a per diem basis.
If Subtenant shall default in any of its obligations hereunder beyond applicable cure periods, Subtenant further agrees to reimburse the Rent Waiver Amount to Sublandlord, and to reimburse Sublandlord for all costs and expenses, including reasonable attorneys’ fees, incurred by Sublandlord in asserting or enforcing its rights hereunder against Subtenant or any assignee, sub-subtenant or other person claiming under Subtenant.
The following are hereby confirmed: Term Commencement Date: __________________________ Initial Fixed Rent Waiver Period under Section 1.1: __________________________ Term Expiration Date: __________________________ Executed this __ day of ________, 20__.
Said Rent Waiver, in the total amount of $14,128.15, shall not apply to any other month of the initial Term, nor during any extended, renewal or holdover term.
Notwithstanding the foregoing, provided that Tenant is not then in Default beyond any applicable notice and cure period under the Lease, Landlord agrees to waive payment of the monthly amounts of Base Rent for the period commencing on the Term Commencement Date and ending on the date immediately preceding the Rent Commencement Date set forth in Section 1 (the “Base Rent Waiver Period”).
Notwithstanding the third paragraph of the Rent Waiver Agreement set forth in Rider No. 1 of the Lease, Tenant shall begin paying Monthly Rent and Tenant's pro rata share of Operating Expenses and Real Property Taxes for the Phase II Premises upon the Phase II Commencement.
Commencing on the Commencement Date (except for the Gross Rent Waiver Period under Section 4.1(a)) and thereafter on the first day of each calendar month during the Term, Tenant shall pay one-twelfth of Tenant’s Pro Rata Share of such estimated Total Operating Costs monthly in advance together with the monthly installment of Base Rent then due.
Tenant covenants and agrees to pay to Landlord, as Additional Rent, Tenant’s Pro Rata Share of the Taxes for each fiscal tax period, or ratable portion thereof, included in the Term (except for the Gross Rent Waiver Period under Section 4.1(a)).