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Base Rent Abatement
Base Rent Abatement contract clause examples

Abatement of Base Rent. Subject to the terms of this Section 4.3, during the first (1st) and second (2nd) full calendar months of the Fourth Expansion Term (the "Rent Abatement Period"), Tenant's obligation to pay Base Rent for the Fourth Expansion Premises shall be abated (the "Rent Abatement"). In no event shall the aggregate amount of the Rent

Notwithstanding the foregoing, Base Rent (and, as applicable, Storage Base Rent) payable with respect to # the Premises (excluding the Fourth Expansion Space) shall be abated for the months of March 2021 and April 2021 and # the Fourth Expansion Space shall be abated for the months of September 2021 and October 2021; provided, however, Tenant shall not be entitled to such abatement so long as an Event of Default has occurred under the Lease which has not been cured after the giving of any required notice and expiration of any applicable period of cure or grace; provided, further, that upon the occurrence of any such Event of Default, Tenant’s right to such abatement shall be suspended and tolled during the pendency of such Event of Default, and if, as and when said Event of Default is cured by Tenant in accordance with the terms and conditions of the Lease, then said suspension shall cease and said right to abatement shall resume (such that, provided Tenant cures such Event of Default and there are no other uncured Events of Default, Base Rent be abated for two (2) months with respect to the Premises (excluding the Fourth Expansion Space) and the Fourth Expansion Space), in accordance with and subject to all of the terms and conditions of this Section. During the period of such abatement, Tenant shall have no obligation to pay Base Rent (or, as applicable, Storage Base Rent); provided however, Tenant shall continue to be responsible for the payment of all other monetary obligations under the Lease, including, without limitation, Additional Rent.

​Notwithstanding anything in the Lease to the contrary (and specifically deleting the reference to the abatement of Base Rent for the DB Second Floor Expansion Premises set forth in Section 3 of the Fourth Amendment), Landlord will forebear the obligation of Tenant to pay Base Rent only for the first three (3) months following the 200 Rent Commencement Date and a portion of the fourth (4th) month following the 200 Rent Commencement Date in the total amount of $52,078.65 (the “Suite [[Unknown Identifier]] Abated Payments”).

Abatement of Base Rent for Expansion Space. Notwithstanding Section 3.2 above, provided that Tenant fully performs all of the terms and conditions of the Lease, as amended hereby, and is not in default beyond all applicable notice and cure periods under the Lease, as amended hereby, Landlord hereby agrees to abate Tenant's obligation to pay the monthly installments of Base Rent otherwise payable for the Expansion Space, only (the "Expansion Space Abated Rent") during the first seven (7) months of the Expansion Space Term. During such abatement period, Tenant shall remain responsible for the payment of all of its other monetary obligations under the Lease, as amended hereby. In the event of a default by Tenant under the terms of the Lease, as amended hereby, that results in the early termination of the Lease, as amended hereby, pursuant to the provisions of [Article 19] of the Original Lease, then as a part of the recovery set forth in [Article 19] of the Original Lease, Landlord shall be entitled to recover the Expansion Space Abated Rent.

* Notwithstanding the foregoing, Base Rent shall be abated for the first three and one half (3.5) calendar months of the Expansion Term for the Expansion Premises only; provided, however, if the Lease or Tenant’s right to possess the Premises is terminated as a result of an Event of Default by Tenant, Landlord shall be entitled to recover from Tenant, in addition to all other rights and remedies available to Landlord, all unamortized (amortization shall be on a straight-line basis over the Expansion Term) abated Base Rent.

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.

Notwithstanding anything to the contrary contained herein, so long as no Default has occurred and is continuing under the Lease, Tenant shall not be required to pay Base Rent with respect to the Third Expansion Premises only for the period commencing on the Third Expansion Premises Commencement Date through the expiration of the 6th month following the Third Expansion Premises Commencement Date (the “Abatement Period”). Tenant shall commence paying full Base Rent with respect to the Third Expansion Premises, as adjusted pursuant to this Section 4(b), on the first day of the 7th month after the Third Expansion Premises Commencement Date. Notwithstanding anything to the contrary contained herein, Tenant shall continue to pay Operating Expenses, Utilities and janitorial expenses for the Premises (the Existing Premises and the Third Expansion Premises) during the Abatement Period. For the avoidance of doubt, during the Abatement Period, Tenant shall be required to pay administration rent each month equal to the amount of the administration rent that Tenant would have been required to pay pursuant to Section 5 of the original Lease in the absence of there being an Abatement Period with respect to Third Expansion Premises.

*The monthly Base Rent for the Expansion Premises shall be subject to rent abatement as set forth in [Section 4.3] of this Lease.

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