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Abatement
Abatement contract clause examples
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For the Third (3rd) year of the Term, commencing January 1st, 2025 and terminating on August 31st, 2025, a Base Rent at the rate of twenty-five Dollars and seventy-five Cents ($25.75) per square foot for room #2238 per annum, being a sum of two hundred and fourteen Dollars and fifty-eight Cents ($214.58) 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;

Base Rent is subject to an annual upward adjustment of three percent (3%) of the then-current Base Rent, with the first such adjustment becoming effective commencing on the first (1st) annual anniversary of the Term Commencement Date, and subsequent adjustments becoming effective on every successive annual anniversary of the Term Commencement Date during the Term. The foregoing table reflects such annual upward adjustments of the Base Rent. Base Rent is also subject to adjustment arising from any disbursement of the Additional TI Allowance as set forth in Section 4.4 below and subject to abatement in accordance with Article 8 below.

Commencing on the Term Commencement Date, Tenant shall pay to Landlord the sums set forth in Section 2.3 as Base Rent for the Premises, subject to the abatement of Base Rent to the extent set forth in Section 8 below. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term. For the avoidance of doubt, Tenant’s payment of Base Rent for the first (1st) month of the Term shall be delivered to Landlord on the Term Commencement Date.

The RSUs and Shares issued upon vesting of such RSUs 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. It is clarified that in order to qualify for the "capital gains route," the RSUs may be settled only in Shares.

Environmental Claim” means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant to or in connection with any actual or alleged violation of any Environmental Law or actual or alleged Environmental Liability; (b) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; or (c) in connection with any actual or alleged damage, injury, threat or harm to natural resources, the environment or human health and safety as a result of exposure to Hazardous Materials.

without limitation, the failure of any other Lender to make its payment under this paragraph (b), the financial condition of the Company (or any other account party), the existence of any Default, the failure of any of the conditions set forth in Article IV to be satisfied, or the termination of the Commitments; provided, that no Lender shall be obligated to make such payments in respect of any Letter of Credit after such Lender’s scheduled Termination Date. Each such payment to an Issuing Bank shall be made without any offset, abatement, withholding or reduction whatsoever.

# to Receive Notices. Tenant shall provide with copies of all default notices or other notices sent to Landlord pursuant to the Lease which give rise to an abatement of rents or other offset against the rents simultaneously with the transmission of such notices to the Landlord. Tenant shall notify of any default by Landlord under the Lease which would entitle Tenant to cancel the Lease or to an abatement of the rents, additional rents or other sums payable thereunder, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation of the Lease shall be effective unless shall have received notice of default giving rise to such cancellation and shall have failed within sixty (60) days after receipt of such notice to cure such default, or if such default cannot be cured within such sixty (60) day period, shall have failed within sixty (60) days after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default. Notwithstanding the foregoing provisions of this Section 6, provided that Tenant shall give simultaneous notice to as provided in this Section 6, Tenant shall retain its termination rights following a casualty or condemnation as well as all other termination rights and options as are expressly set forth in the Lease.

Ground Leases. For purposes of this Exhibit B, a “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner and does not include industrial development agency (IDA) or similar leases for purposes of conferring a tax abatement or other benefit.

Section # Notwithstanding anything to the contrary contained above, any Hazardous Materials (as hereinafter defined) located in the Additional Space shall be the sole responsibility of Landlord to abate, encapsulate, and remediate if 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) (other than any Hazardous Materials brought to the Additional Space or Building by Tenant or any other occupant of the Premises acting by, through or under Tenant, or Tenant’s or such other occupant’s agents, contractors, invitees or employees). If any such Hazardous Materials are discovered in the Additional Space, then Tenant shall promptly notify Landlord of same (promptly after Tenant becomes aware thereof) and Landlord shall be responsible pursuant to the preceding sentence therefor. In the case where Landlord is required to abate, encapsulate, remediate or remove such Hazardous Materials pursuant to this Section 3.6, Tenant shall be entitled to an abatement of the Annual Fixed Rent payable hereunder with respect to the Additional Space # in proportion to the portion of the Additional Space in which the performance of Tenant’s Work or other 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 Additional Space that Tenant actually vacates due to the existence of such Hazardous Materials, if otherwise discovered during the Term hereof by Tenant 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 3.6 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.

Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing (which may, at Tenant’s election, include payment of Rent by ACH, subject to an ACH authorization form reasonably acceptable to Landlord (which form shall stipulate that such authorization is for credit entries only to Landlord’s bank account)). In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.

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