Example ContractsClausesAbatement
Abatement
Abatement contract clause examples

Tenant shall have until six (6) months following the Term Commencement Date (the “TI Deadline”), to submit Fund Requests (as defined in the Work Letter) to Landlord for disbursement of the unused portion of the TI Allowance, after which date Landlord’s obligation to fund any such costs for which Tenant has not submitted a Fund Request to Landlord shall expire. Base Rent shall be increased to include the amount of the Additional TI Allowance disbursed by Landlord in accordance with this Lease amortized over the portion of the initial Term occurring after the expiration of the Abatement Period (as defined below) at a rate of eight percent (8.00%) annually. The amount by which Base Rent shall be increased shall be determined as of the Term Commencement Date and Base Rent shall be increased accordingly and the payments of such increased Base Rent shall commence after expiration of the Abatement Period. If such determination of the increase in Base Rent as of the Term Commencement Date does not reflect use by Tenant of all of the Additional TI Allowance, then it shall be determined again as of the TI Deadline, with Tenant paying (on the next succeeding day that Base Rent is due under this Lease (the “TI True-Up Date”)) any underpayment of the further adjusted Base Rent for the period beginning on the day after the Abatement Period expires and ending on the TI True-Up Date. For purposes of clarification, the annual upward adjustments of Base Rent described in Section 2.3 shall apply to any increase in Base Rent arising from any disbursement of the Additional TI Allowance. Landlord shall not be obligated to expend any portion of the Additional TI Allowance unless and until Landlord shall have received from Tenant a letter in the form attached as [Exhibit D] hereto executed by an authorized officer of Tenant.

The Stock Options and Shares received upon exercise of such Stock Options are intended to qualify for the tax treatment available in Israel pursuant to the provisions of the “capital gain route” under [Section 102] of the Israeli Tax Ordinance ("[Section 102]"), including the provisions of the Income Tax (Tax Abatement on the Grant of Shares to Employees) Regulations 2003 (the “Regulations”) and any tax ruling or agreement obtained by the Company or the Employer with regard to the Plan.

If an excavation or other substructure work shall be made upon land adjacent to the Building, or shall be authorized to be made, Tenant shall afford access to Demised Premises for the purpose of doing such work as shall be necessary to preserve the wall of the Building from injury or damage and to support the same by proper foundations without any claim for damages or indemnity against Landlord, or diminution or abatement of rent, except as otherwise provided herein.

Base Rent. The first month’s Base Rent shall be due and payable on delivery of an executed copy of this Lease to Landlord. The Security Deposit shall be due on the date that is 5 days after the mutual execution and delivery of this Lease by the parties. 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, 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. 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.

neither the Borrower nor any Restricted Subsidiary has received any written notice asserting any alleged liability or obligation under any applicable Environmental Laws with respect to the investigation, remediation, abatement, removal, or monitoring of any Hazardous Materials, including at, under, or Released or threatened to be Released from any Oil and Gas Properties of the Borrower or any Restricted Subsidiary, and, to the Borrower’s Knowledge, there are no conditions or circumstances that would reasonably be expected to result in the receipt of such written notice; and

Environmental Law” means any current or future Law pertaining to # the protection of the indoor or outdoor environment, # the conservation, management or use of natural resources and wildlife, # the protection or use of surface water or groundwater, # the management, manufacture, possession, presence, use, generation, transportation, treatment, storage, disposal, Release, threatened Release, abatement, removal, remediation or handling of, or exposure to, any Hazardous Material or # pollution (including any Release to air, land, surface water or groundwater), and any amendment, rule, regulation, order or directive issued thereunder.

For the First (1st) and Second (2nd) years of the Term, commencing April 1st, 2023 and terminating on December 31st, 2024, a Base Rent at the rate of twenty-five Dollars ($25.00) per square foot for room #2238 per annum, being a sum of two hundred and eight Dollars and thirty-three Cents ($208.33) per month, plus applicable taxes in accordance with [Section 3.7] herein, payable in advance, without deduction or abatement, by way of equal and consecutive monthly instalments on the first day of each month;

Notwithstanding anything to the contrary contain herein, so long as Tenant is not in Default under this Lease, for the period commencing on the Commencement Date through the last day of the 30th full month after the Commencement Date (the “Partial Abatement Period”), Tenant shall only be required to pay Base Rent with respect to 11,000 rentable square feet of the Premises. Commencing on the first day of the 31st full month after the Commencement Date, Tenant shall commence paying Base Rent with respect to the entire Premises.

Environmental Claim” means any written notice, written demand, written notice of citizen suit, written notice of “potential responsible party” liability, information request, Proceeding or Order arising # pursuant to, or in connection with, the violation or alleged violation of or liability or alleged liability arising under any Environmental Law or Environmental Permit, or # from any use, manufacture, marketing, distribution, sale, presence, generation, treatment, storage, disposal, arrangement for the transportation or disposal, recycling, release, exposure to, abatement, investigation, monitoring, removal, remedial, corrective or other response action in connection with Hazardous Substances or Environmental Law.

Notwithstanding anything to the contrary contained in the Existing Lease, any Hazardous Materials (as hereinafter defined) located in the Existing Premises (including the Storage Space and which were not introduced into the Existing Premises by or on behalf of Tenant or anyone claiming by, through or under Tenant shall be the sole responsibility of Landlord to abate, encapsulate, and remediate as and to the extent required in accordance with Legal Requirements, all at Landlord’s sole cost and expense (except as such costs may be included in Operating Expenses pursuant to Article 4 of the Lease). If any such Hazardous Materials are discovered in the Existing Premises (including the Storage Space), then Tenant shall promptly notify Landlord of same and Landlord shall be responsible pursuant to the preceding sentence therefor. In the case where Landlord is required abate, encapsulate, remediate or remove such Hazardous Materials pursuant to this [Section 4.1(iii)], Tenant shall be entitled to an abatement of the Annual Fixed Rent payable hereunder with respect to the Existing Premises # in proportion to the portion of the Existing Premises in which the performance of such Alteration is actually delayed commencing as of the day immediately following the fifteenth (15th) Business Day of such delay, or # in proportion to the portion of the Existing Premises that Tenant actually vacates due to the existence of such Hazardous Materials, if otherwise discovered during the Term hereof commencing as of the day immediately following the fifteenth (15th) Business Day of such vacancy by Tenant, in each case, because of Landlord’s abatement, encapsulation, remediation or removal of such Hazardous Materials. For purposes of this [Section 4.1(iii)] only, the term “Hazardous Materials” shall mean any such materials classified or defined as hazardous materials pursuant to Legal Requirements at the time in question.

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