reserve as an initial annual rent an amount equal to the Rent payable under this Lease at the date of the forfeiture or disclaimer or which would be payable but for any abatement or suspension of the Rent or restriction on the right to collect it (subject to paragraph 5) and which is subject to review on the same terms and date provided this Lease;
determination of the actual Base Rent for such month in accordance with Exhibit J, if the actual Base Rent is higher than the estimated Base Rent, then shall pay to the shortfall with the next payment of Base Rent and if the actual Base Rent is less than the estimated Base Rent, shall give a credit for the overage against the next payment of Base Rent due under this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis.
The initial monthly Base Rent shall be equal to one-twelfth (1/12) of the initial annual Base Rent determined as provided for above.
In the event that, # for any reason (including, without limitation, any abatement of rent or the termination of the Existing Lease for any reason), the amount of fixed and additional rent payable by Tenant to the Existing Landlord (Existing Lease Rent) is reduced with respect to the Abatement Period, as hereinafter defined, or # Tenant receives payments from any subtenant of the Existing Premises with respect to the Abatement Period or receives the benefit of payments of rent by any assignee or transferee of Tenants interest in the Existing Lease with respect to the Abatement Period (any amount reduced or received in accordance with (i) or (ii), being hereinafter referred to as a Savings Amount, and any event described in (i) or (ii), being hereinafter referred to as an Existing Lease Reduction Event), then Tenant shall pay to Landlord, as additional rent, an amount (the Savings Payment) equal to seventy five percent (75%) of the Net Reduction in Existing Lease Rent, as hereinafter defined, payable by Tenant pursuant to the Existing Lease with respect to the Abatement Period. Tenant shall pay to Landlord any amount of Savings Payments as follows: # in the case of an abatement of rent payable or a termination of the Existing Lease, on or before the date that each installment of rent would have become due under the Existing Lease but for such abatement of rent or termination; # in the case of a sublease, fifteen (15) business days after each date that Tenant receives any installment of monthly sublease rent payment from a sublessee, (and, if there are any payment(s) received by Tenant under or in connection with the sublease other than a monthly payment which are attributable to occupancy of the Existing Premises, such payment(s) shall be included in the Savings Payment as if payable in equal monthly installments over the term of such sublease); and # in the case of an assignment or Transfer, fifteen (15) business days after the date that each installment of rent is scheduled to become due pursuant to the Existing Lease (and, if there are any additional payment(s) received by Tenant by a Transferee or assignee on account of the Transfer or assignment which are attributable to occupancy of the Existing Premises, such payments shall be included in the Savings Payment as if paid in equal monthly installments over the period of time beginning on the date of such assignees occupancy of the Existing Premises and ending on the last day of the term of the Existing Lease). Tenant shall advise Landlord if Tenant becomes aware of any Existing Lease Reduction Event. After the occurrence of any Existing Lease Reduction Event, Tenant shall with reasonable promptness (and subject to reasonable restrictions imposed by applicable confidentiality requirements) provide copies of the agreements and documentation effecting such Existing Lease Reduction Event, reasonable evidence of any Mitigation Costs, and a reasonable accounting so that Landlord can confirm the actual amount of the reduction effected by such Existing Lease Reduction Event.
“1.03 “Base Rent”. The Annual Rate Per Square Foot is now amended to read $0.88. The Monthly Base Rent is now amended to read $1,291.36
Upon final determination of the initial monthly Base Rent, if the amount of the Letter of Credit then held by is not equal to the initial monthly Base Rent, then shall promptly obtain a revised Letter of Credit in an amount equal to the initial monthly Base Rent.
No Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment of Base Rent or any Additional Rent will be other than on account of the earliest stipulated Base Rent and Additional Rent, nor will any endorsement or statement on any check or letter accompanying a check for payment of any Base Rent or Additional Rent be an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlords right to recover the balance of such Rent or to pursue any other remedy provided in this Lease.
Base Rent.................................................................................................................................... 14
Definition. As used herein, the term Rent includes Base Rent, Percentage Rent and all other monetary obligations of the Tenant under this Lease.
Additional Rent. All monies other than Base Rent required to be paid by Tenant hereunder, including, but not limited to, Tenants Proportionate Share of Operating Expenses, as specified in Paragraph 7 of this Lease, charges to be paid by Tenant under Paragraph 15, the interest and late charge described in Paragraphs 26.4 and 26.5, and any monies spent by Landlord pursuant to Paragraph 30, shall be considered additional rent (Additional Rent). Except as otherwise provided herein, all items of Additional Rent shall be paid within 30 days after Landlords request for payment. Rent shall mean Base Rent and Additional Rent.
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