Example ContractsClausesAbated Base Rent
Abated Base Rent
Abated Base Rent contract clause examples

Base Monthly Rent Abatement Period. So long as there is no monetary or material non-monetary default by Tenant under the Lease, as hereby amended, beyond applicable periods of notice and grace, Base Monthly Rent in the aggregate amount of $173,287.66 shall be abated commencing with the installment of Base Monthly Rent for November, 2022 until exhausted (the “Base Monthly Rent Abatement Period”). Upon the occurrence of any default by Tenant under the Lease, as hereby amended, the foregoing abated Base Monthly Rent will immediately become null and void and of no further force or effect and Tenant will no longer receive such abated Base Monthly Rent, and if Landlord terminates the Lease, as hereby amended, or Tenant’s right of occupancy under the Lease, as hereby amended, as a result of any default by Tenant, then such abated Base Monthly Rent will immediately become due and payable. For avoidance of doubt, only Base Monthly Rent shall be abated pursuant to this paragraph, and all Additional Rent and other Rent specified in the Lease, as hereby amended, shall remain as due and payable pursuant to the provisions of the Lease, as hereby amended.

In consideration for entering into this Agreement, the base monthly rent for the month of March, 2021 shall be one hundred percent (100%) abated and the base monthly rent for the month of March 2022 shall be fifty percent (50%) abated.

Base Rent. The Security Deposit shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. Base Rent for the month in which the Rent Commencement Date occurs (or, if the Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the Rent Commencement Date) shall be paid by Tenant to Landlord no later than thirty (30) days prior to the Rent Commencement Date. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the Rent Commencement Date, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to the wire instructions provided by Landlord. Payments of Base Rent for any fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abate, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease.

Abated Base Rent. Provided that Tenant is not then in default of this Lease beyond all applicable notice and cure periods, then during the initial six (6) full calendar months of the Lease Term (the "Rent Abatement Period"), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Initial Premises during such Rent Abatement Period (the "Rent Abatement"). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $3,528,000.00. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in monetary or material non-monetary default under this Lease prior to the expiration of the Rent Abatement Period, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Lease, then the Rent Abatement Period shall be tolled until Tenant cures said default and Tenant shall immediately be obligated to begin paying Base Rent for the Initial Premises in full, but any unapplied portion of the Rent Abatement shall be abated again if Landlord subsequently accepts a cure by Tenant of such monetary or material non-monetary default. If this Lease is terminated prior to the expiration of the Rent Abatement Period for any reason other than Landlord’s breach of this Lease, or an event of casualty or condemnation, then, for purposes of calculating Landlord's remedies under Section 1951.2 of the California Civil Code, if any, the dollar amount of the unapplied portion of the Rent Abatement as of the date of such termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term.

Abated Base Rent. Provided that Tenant is not then in default of this Lease beyond all applicable notice and cure periods, then during the initial six (6) full calendar months of the Must‑Take Space Lease Term (the "MTS Rent Abatement Period"), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Must‑Take Space during such MTS Rent Abatement Period (the "MTS Rent Abatement"). Landlord and Tenant acknowledge that, provided the entire MTS Rent Abatement Period occurs during Lease Year 2, the aggregate amount of the MTS Rent Abatement equals $2,768,640.00. Tenant acknowledges and agrees that the foregoing MTS Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in monetary or material non-monetary default under this Lease prior to the expiration of the MTS Rent Abatement Period, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of this Lease, then the MTS Rent Abatement Period shall be tolled until Tenant cures said default and Tenant shall immediately be obligated to begin paying Base Rent for the Must-Take Premises in full, but any unapplied portion of the MTS Rent Abatement shall be abated again if Landlord subsequently accepts a cure by Tenant of such monetary or material non-monetary default. If this Lease is terminated prior to the expiration of the MTS Rent Abatement Period for any reason other than Landlord’s breach of this Lease, or an event of casualty or condemnation, then, for purposes of calculating Landlord's remedies under Section 1951.2 of the California Civil Code, if any, the dollar amount of the unapplied portion of the MTS Rent Abatement as of the

Abated Rent Buy-Out. Notwithstanding anything above to the contrary, Landlord shall have the right to buy out all or any portion of the Base Rent Abatement at any time prior to the expiration of the Base Rent Abatement Period by # providing written notice thereof to Tenant and # simultaneously paying to Tenant the amount of Base Rent Abatement then remaining due. If Landlord elects to buy out all or a portion of the Base Rent Abatement, Landlord and Tenant shall, at Landlord's option, enter into an amendment to this Lease. In no event shall Landlord be obligated to pay a commission with respect to the Base Rent Abatement.

Abated Base Rent. Provided that Tenant is not then in default of the Lease (as hereby amended), then during the period commencing on January 1, 2020 and ending on August 31. 2020 (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $1,872,188.80 (i.e., $159,579.20 per month with respect to the Existing Premises and $74,444.40 per month with respect to the Expansion Premises). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Third Amendment, and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Lease (as hereby amended). If Tenant shall be in default under this Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of the Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, casualty or condemnation, then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.

Base Rent. Tenant shall continue pay Base Rent for the Existing Premises in accordance with Section 4(a) of the First Amendment. As of the Effective Date Section 4(b) of the First Amendment which provides the Base Rent for the Expansion Premises is hereby deleted in its entirety and replaced with the following:

Abated Base Rent. Provided that Tenant is not then in default of this Lease beyond all applicable notice and cure periods, then during the seven (7) month period commencing on the first (1st) day of the second (2nd) full calendar month of the Lease Term and continuing through and including the last day of the eighth (8th) full calendar month of the Lease Term (the "Rent Abatement Period"), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the "Rent Abatement"). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $460,152.00 (i.e., $65,736.00 per month)]. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of the Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term (as the same may have been modified by virtue of such termination) and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full (subject to the application of such credit).

Expansion Premises Abated Base Rent. Provided that Tenant is not then in default of the Lease (as hereby amended), then during the period commencing on January 1, 2021 and ending on June 30, 2021 (the "Expansion Rent Abatement Period"), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Expansion Premises only during such Expansion Rent Abatement Period (the "Expansion Rent Abatement"). Landlord and Tenant acknowledge that the aggregate amount of the Expansion Rent Abatement equals $607,869.60 (i.e., $101,311.60 per month). Tenant acknowledges and agrees that the foregoing Expansion Rent Abatement has been granted to Tenant as additional consideration for entering into this Second Amendment, and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Lease (as hereby amended). If Tenant shall be in default under the Lease (as hereby amended) during the Expansion Rent Abatement Period and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to the Lease (as hereby amended), then the dollar amount of the unapplied portion of the Expansion Rent Abatement as of the expiration of such cure period shall be converted to a credit to be applied to the Base Rent applicable at the end of the Expansion Term and Tenant shall then be obligated to begin paying Base Rent for the Expansion Premises.

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