Example ContractsClausesBase Rent Abatement
Base Rent Abatement
Base Rent Abatement contract clause examples

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;

Base Rent Prior to the Substitute Premises Commencement Date, Tenant shall continue to pay Base Rent with respect to the Original Premises in accordance with the terms of the Lease. Commencing as of the Substitute Premises Commencement Date, and continuing throughout the Substitute Premises Term, Tenant shall pay to Landlord monthly installments of Base Rent for the Substitute Premises as follows:

Base Rent became payable on .

Preliminary Base Rent..................................................................................................... Exhibit B

are hereinafter collectively referred to as the " XE "Additional Rent" Additional Rent", and the Base Rent and the Additional Rent are herein collectively referred to as "Rent XE "Rent" ." All amounts due under this Article 4 as Additional Rent shall be payable for the same periods and in the same manner as the Base Rent. Without limitation on other obligations of Tenant which survive the expiration of the Lease Term, the obligations of Tenant to pay the Additional Rent provided for in this Article 4 shall survive the expiration of the Lease Term (subject to the terms of Section 4.4.1, below).

j CALCULATION OF INITIAL BASE RENT

Monthly Rent. The Tenant shall make monthly installments payments of $20000 (the “Rent”) to the Landlord, payable in advance on the 1st day of each month.

Additional Rent. [[Organization B:Organization]] shall pay to [[Organization A:Organization]] as Additional Rent throughout the Term, the following:

Option Rent. The annual Rent payable by Tenant during the Option Term (the "Option Rent XE "Option Rent" ") shall be equal to the "Fair Rental Value," as that term is defined below, for the Premises as of the commencement date of the Option Term. The "Fair Rental Value XE "Fair Rental Value" ," as used in this Lease, shall be equal to the annual rent per rentable square foot (including additional rent and considering any "base year" or "expense stop" applicable thereto), including all escalations, at which tenants (pursuant to leases consummated within the twelve (12) month period preceding the first day of the Option Term), are leasing non-sublease, non-encumbered, non-equity space which is not significantly greater or smaller in size than the subject space, with a comparable level of improvements (excluding any property that Tenant would be allowed to remove from the Premises at the termination of the Lease), for a comparable lease term, in an arm's length transaction, which comparable space is located in the "Comparable Buildings," as that term is defined in this Section 2.2.2, below (transactions satisfying the foregoing criteria shall be known as the " XE "Comparable Transactions" Comparable Transactions"), taking into consideration the following concessions (the " XE "Concessions" Concessions"): # rental abatement concessions, if any, being granted such tenants in connection with such comparable space; # tenant improvements or allowances provided or to be provided for such comparable space, and taking into account the value, if any, of the existing improvements in the subject space (other than improvements installed by Tenant at Tenant’s sole cost and expense), such value to be based upon the age, condition, design, quality of finishes and layout of the improvements and the extent to which the same can be utilized by a general office/lab user other than Tenant; and # other reasonable monetary concessions being granted such tenants in connection with such comparable space; provided, however, that in calculating the Fair Rental Value, no consideration shall be given to the fact that Landlord is or is not required to pay a real estate brokerage commission in connection with Tenant's exercise of its right to extend the Lease Term, or the fact that landlords are or are not paying real estate brokerage commissions in connection with such comparable space. The Concessions shall be reflected in the effective rental rate (which effective rental rate shall take into consideration the total dollar value of such Concessions as amortized on a straight-line basis over the applicable term of the Comparable Transaction (in which case such Concessions evidenced in the effective rental rate shall not be granted to Tenant)) payable by Tenant. The term “ XE “Comparable Buildings” Comparable Buildings” shall mean the Building and those other life sciences buildings which are comparable to the Building in terms of age (based upon the date of completion of construction or major renovation to the building), quality of

Additional Rent. All monies other than Base Rent required to be paid by Tenant hereunder, including, but not limited to, Tenant’s 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 Landlord’s request for payment. “Rent” shall mean Base Rent and Additional Rent.

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