Base Rent Abatement. Provided that Tenant is not then in default of the terms of the Lease, after expiration of any applicable notice and cure periods, Tenant will have no obligation to pay any Base Rent with respect to the Substitute Premises for the period for the first (1st) month of the Substitute Premises Term. Notwithstanding the foregoing, Tenants Share of annual Direct Expenses shall not be abated during the Substitute Premises Term.
Rent Abatement. Notwithstanding anything to the contrary contained herein and provided that no default by Tenant occurs hereunder beyond any applicable notice and cure period, Landlord hereby agrees that Tenant shall not be required to pay monthly Base Rent for the second (2nd) month of the initial Term through the eighth (8th) month of the initial Term (the “Abatement Period”). The total amount of monthly Base Rent abated during the Abatement Period shall not exceed (the “Abatement Amount”); provided that the Abatement Amount shall not be increased as a result of any increase in Base Rent arising from Landlord’s disbursement of any Additional TI Allowance in accordance with [Sections 4.2 and 4.4]4] of this Lease. During the Abatement Period, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease, including, all Additional Rent, including Operating Expenses the Property Management Fee and costs of utilities for the Premises. In the event of a default by Tenant under the terms of this Lease that results in termination of this Lease in accordance with the provisions of this Lease, then as a part of the recovery set forth in this Lease and in addition to any other remedies to which Landlord is entitled pursuant to [Section 31] hereof, Landlord shall be entitled to the immediate recovery, as of the day prior to such termination, of the unamortized Abatement Amount that was abated under the provisions of this [Section 8].
Rent Abatement. If Landlord or Tenant does not elect to terminate this Lease under Paragraph 25.3 or Paragraph 25.4, this Lease shall remain in full force and effect provided that Tenant shall be entitled to a reduction of Base Rent and Tenants Proportionate Share of Operating Expenses in proportion that the areas of the Premises rendered untenantable bears to the total rentable area of the Premises during the period beginning with the date such rentable area becomes untenantable and Tenant ceases to use such rentable area for the normal conduct of its business and ending five (5) Business Days after Substantial Completion of Landlords Restoration Work. For purposes of this Paragraph 25, the term Substantial Completion or Substantially Complete shall have the same meaning as provided in the Tenant Improvement Agreement with respect to Substantial Completion of the Base Building Improvements.
No Rent Abatement. Tenant shall continue to pay all Rent due or accruing under this Lease during any Clean-up, and shall not be entitled to any reduction, offset or deferral of any Base Rent or Additional Rent due or accruing under this Lease during any such Clean-up.
Abatement of Rent. In the event that is prevented from using, and does not use (except for the maintenance of a skeleton crew within the Premises for such purposes as securing ’s records and files, forwarding telephone communications, correspondence and deliveries, and otherwise enabling those aspects of ’s business operations previously conducted within the Premises to be carried on from an alternative location), the Premises or any portion thereof, as a result of # any repair, maintenance or alteration performed by , or which failed to perform, after the Lease Commencement Date and required by the Lease, which materially and adversely interferes with ’s use of the Premises, # any failure to provide services, utilities or access to the Premises as required by this Lease attributable to the negligent act or omission of or its agents, employees, or representatives, or # any “Renovations,” as that term is defined in [Section 29.29] of this Lease (such set of
Abatement of Rent. In the event that Tenant is prevented from using, and does not use, the Premises or any portion thereof, as a result of # any repair, maintenance or alteration performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or # any failure to provide or allow services, utilities or access to the Premises as required by this Lease (either such set of circumstances as set forth in items [(i) or (ii)])], above, to be known as an " XE "Abatement Event" Abatement Event"), then Tenant shall give Landlord notice of such Abatement Event, and if such Abatement Event continues for five (5) consecutive business days after Landlord's receipt of any such notice (the " XE "Eligibility Period" Eligibility Period") and either # Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, # Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event or # Landlord does not complete the remedy of such Abatement Event within ten (10) days from when the Abatement Event commenced, then the Base Rent, Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, for the normal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant's Share of Direct Expenses for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to abate rent shall be governed by the terms of such [Article 11 or 13]3], as applicable, and the Eligibility Period shall not be applicable thereto. Such right to abate Base Rent and Tenant's Share of Direct Expenses shall be Tenant's sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event. Except as provided in this [Section 19.5.2], nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Abatement of Rent. Notwithstanding the foregoing, but subject to the terms and provisions contained in [Section 19.2], the aggregate amount of Base Rent, Tenants Proportionate Share of Operating Charges and Tenants Proportionate Share of Real Estate Taxes shall be abated from the Lease Commencement Date until the Rent Commencement Date (the Abatement Period).
BASE RENT. Tenant shall pay, without prior notice or demand, to Landlord at the address set forth in [Section 4] of the Summary, or, at Landlord's option, at such other place as Landlord may from time to time designate in writing, by a check or ACH (pursuant to instructions provided by Landlord) for currency which, at the time of payment, is tender for private or public debts in the United States of America, base rent ("Base Rent") as set forth in [Section 4] of the Summary, payable in equal monthly installments as set forth in [Section 4] of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid six (6) months prior to the estimated Lease Commencement Date. If any Rent payment date (including the Lease 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.
For the First (1st) and Second (2nd) years of the Term, commencing and terminating on , a Base Rent at the rate of per square foot for room #2238 per annum, being a sum of 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 (the “Rent”) to the Landlord, payable in advance on the 1st day of each month.
Additional Rent. shall pay to 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, 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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