Rent: Base Rent and Tenants Proportionate Share of Operating Charges and Tenants Proportionate Share of Real Estate Taxes.
Following approval of the Final Total Development Cost Budget and the Final TI Cost Budget pursuant to Section 3.2 of the Work Letter, shall deliver to a notice updating the Preliminary Base Rent set forth in Section 1.8 of the Work Letter to reflect the determination of the initial annual Base Rent based upon the approved Final Total Development Cost Budget (the “FTDCB Preliminary Base Rent”).
Base Rent: an annual amount payable as follows:
Mitigation Costs means any and all costs incurred by Tenant, in good faith, in effecting an Existing Lease Reduction Event, including, for example and without limitation, a termination fee paid to the Existing Landlord as consideration for the Existing Landlords agreement to terminate the term of the Existing Lease prior to the last day of the Abatement Period, or any and all costs incurred by Tenant in effecting a Transfer with respect to the Existing Lease, e.g. brokerage, legal fees, free rent and other subtenant/assignee incentives, and construction and design costs in connection with such Transfer. It is agreed that, for purposes of calculating the Net Reduction in Existing Lease Rent, all Mitigation costs shall be deemed amortized over: # in the case of an abatement of rent payable under the Existing Lease, during the period of such abatement: # in the case of a termination of the Existing Lease, from the effective date of such termination through November 30, 2022; # in the case of a sublease, during the term thereof; and # in the case of an assignment or Transfer, from the effective date the assignment or Transfer through November 30, 2022.
Thereafter, Base Rent and Additional Rent shall be payable in advance on the first day of each month during the Lease Term. Base Rent and Additional Rent for any partial month during the Lease Term shall be prorated to reflect the number of days during the relevant month. Payment by [[Organization B:Organization]] or receipt by [[Organization A:Organization]] of any amount less than the full Base Rent or Additional Rent due from [[Organization B:Organization]], or any disbursement or statement on any check or letter accompanying any check or rent payment, shall not in any event be deemed an accord and satisfaction. [[Organization A:Organization]] may accept such check or payment without prejudice to [[Organization A:Organization]]’s right to recover the balance of such rental or pursue any other remedy provided in this Lease.
Direct Expenses; Additional Rent. In addition to paying the Base Rent specified in Article 3 of this Lease, Tenant shall pay "Tenant's Share" of the annual "Direct Expenses," as those terms are defined in Sections 4.2.6 and 4.2.22] of this Lease, respectively, allocable to the Building as described in Section 4.3. Such payments by Tenant, together with any and all other amounts payable by Tenant to Landlord pursuant to the terms of this Lease, are hereinafter collectively referred to as the "Additional Rent", and the Base Rent and the Additional Rent are herein collectively referred to as "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.
Tenant shall accept the Extension Premises in their as is condition at the commencement of the Extension Term, Landlord shall not be required to perform any work, to pay any work allowance or any other amount or to render any services to make the Extension Premises ready for Tenants use and occupancy or to provide any abatement of Annual Fixed Rent or additional rent, in each case with respect to the Extension Term,
“Minimum Lease Term Requirement” means at any time, that the then average weighted remaining term of all Leases pertaining to Unencumbered Eligible Properties, excluding extension options (which have not yet been exercised such that the Lease term has been extended to reflect such exercise), is at least five (5) years. For purposes of the foregoing, the remaining term of a Lease pertaining to an Unencumbered Eligible Property shall be weighted based on the rent (including base rent and percentage rent) due and payable thereunder relative to the rent (including base rent and percentage rent) of all Leases pertaining to Unencumbered Eligible Properties.
Beginning with the Commencement Date, Lessee shall pay a base rent of Thirty Thousand Dollars and No Cents ($30,000.00) per annum, in equal monthly installments of Two Thousand Five Hundred Dollars and 00 Cents ($2,500) (the Base Rent) in advance on the first day of each month. Thereafter on each and every Adjustment Date (hereinafter defined) the monthly rent shall be computed according to subparagraph # below.
Base Term. Commencing on the Expansion Premises Commencement Date, the defined term Base Term on page 1 of the Lease is deleted in its entirety and replaced with the following:
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