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. 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.
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 Five Hundred Twenty-Six Thousand Six Hundred Eighty and 00/100 Dollars ($526,680.00) (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 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.
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 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, 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. 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. 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 or Landlord's agent at the management office of the Project, or at such other place as Landlord may from time to time designate in writing, by a check, wire transfer, ACH or other electronic means acceptable to Landlord, for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent ("Base Rent XE "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, except to the extent expressly provided otherwise in this Lease. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant's execution of this Lease. If any Rent (hereinafter defined) 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.
Base Rent. Simultaneously with Subtenants execution of the Sublease, Subtenant shall pay to Sublandlord via wire or cashiers check one (1) months Base Rent in the amount of one hundred twenty-nine thousand two hundred eighty-one 40/100 dollars ($129,281.40). Beginning Month Thirteen # of the Term, there will be two and fifty hundredths percent (2.50%) annual increases of the Base Rent as set forth in the Rent Schedule herein. If the Commencement Date is not the first of a month, on the Commencement date Subtenant shall pay, via wire of cashiers check, Base Rent in a pro-rated amount for the partial month between the Commencement Date and the last day of the month. After the Commencement Date, Base Rent shall be paid via wire or via cashiers check, monthly on the first of the month starting on the first day of the second full month.
Base Rent. Base Rent for the 3rd month of the Base Term and the Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the Rent Commencement Date, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent for any fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abate, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease.
Base Rent. Tenant shall continue paying Base Rent with respect to the Original Premises as provided for in the Lease through June 30, 2016. Commencing on the Expansion Premises Commencement Date, Tenant shall pay Base Rent for the Expansion Premises at the same Base Rent per rentable square foot that Tenant is then paying for the Original Premises. Commencing on July 1, 2016, Tenant shall commence paying Base Rent with respect to the entire Premises (the Original Premises and the Expansion Premises) in the amount of $3.25 per rentable square foot of the entire Premises per month. Base Rent for the Premises shall be increased on July 1, 2017, and on each subsequent July 1st during the Base Term (each, an Premises Adjustment Date) by multiplying the Base Rent payable with respect to the Premises immediately before such Premises Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable with respect to the Premises immediately before such Premises Adjustment Date.
Base Rent. During the Term, Subtenant shall pay to Sublandlord as base monthly rent ("Base Rent") the following amounts per month (which amounts are equal to $7.25 per rentable square foot per month for one hundred percent (100%) of the Subleased Premises and twenty five percent (25%) of the Shared Area, with an annual increase of 3.5% commencing on the first anniversary of the Commencement Date):
Base Rent. Commencing on the Rent Commencement Date (“Rent Commencement Date”) as set forth in Section 4.1 of the Summary, shall pay, without prior notice or demand, to or ’s agent at the management office of the Project, or, at ’s option, at such other place as may from time to time designate in writing, at least thirty (30) days prior to the effective date of the change in the rent payment address, by notice to in accordance with the provisions of Article 28 of this Lease by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America or by Automated Clearing House (but only for so long as has agreed to accept payments by Automated Clearing House), base rent (“Base Rent”), which shall be initially calculated in accordance with Exhibit J, payable in equal monthly installments in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever except as may be expressly set forth herein. On each anniversary of the Lease Commencement Date, the Base Rent shall increase as set forth in Section 4.3 of the Summary. The estimated Base Rent for the first full month following the Rent Commencement Date shall be paid at the time of ’s execution of this Lease and, upon
Base Rent. For the first year of this Lease, Tenant shall pay to Landlord in good funds representing lawful currency of the United States for the payment of debts monthly in advance on the first day of each month unless a different period of time and method of payment is hereinafter provided Base Rent of per month. The first twelve-month period in which rent is herein payable and each twelve-month period thereafter is hereinafter referred to as a Lease Year. The first Lease Year shall commence on the first day of the term of this Lease, , and shall end on . For the second Lease Year and for each Lease Year thereafter, the monthly Base Rent shall be adjusted so that it is equal to the monthly Base Rent in effect at the end of the immediately preceding Lease Year multiplied by a fraction, the numerator of which shall be the Consumer Price Index (CPI-U) (1982-1984 = 100) for the immediately preceding December, and the denominator of which shall be the Consumer Price Index for the month of December immediately preceding the beginning of the prior Lease Year. As used herein, the Consumer Price Index means the Consumer Price Index All Cities Average Urban Wage Earners as published by the Bureau of Labor Statistics of the Department of Labor of the United States, or if no longer published, that index as determined by Landlord which most closely reflects the components of the Consumer Price Index (CPI-U). The Base Rent, as adjusted, shall remain in effect until the next adjustment period and shall be paid in twelve equal monthly installments. In no event shall the monthly Base Rent, as adjusted, be less than the monthly Base Rent for the period immediately prior to such adjustment period. In the event that the amount of such adjustment cannot be calculated prior to the effective date thereof, the monthly Base Rent for the period prior to the effective date of such adjustment shall continue to be paid by Tenant. As soon as Tenant shall be notified of the amount of the adjustment, Tenant shall, within thirty (30) days, pay to the Landlord the difference between the monthly Base Rent, as adjusted, for all monthly periods occurring in whole or in part after the date such adjustment was to be effective and the monthly Base Rent actually paid. Thereafter the monthly Base Rent, as adjusted, shall be payable by the Tenant as herein provided.
Base Rent. Simultaneously with Subtenants execution of the Sublease, Subtenant shall pay to Sublandlord via wire or cashiers check one (1) months Base Rent in the amount of one hundred twenty-nine thousand two hundred eighty-one 40/100 dollars ($129,281.40). Beginning Month Thirteen # of the Term, there will be two and fifty hundredths percent (2.50%) annual increases of the Base Rent as set forth in the Rent Schedule herein. If the Commencement Date is not the first of a month, on the Commencement date Subtenant shall pay, via wire of cashiers check, Base Rent in a pro-rated amount for the partial month between the Commencement Date and the last day of the month. After the Commencement Date, Base Rent shall be paid via wire or via cashiers check, monthly on the first of the month starting on the first day of the second full month.
Base Rent. The Base Rent for the Premises will be abated as of the Commencement Date, and Tenant will pay rent for the Suite 500 Premises beginning on the Commencement Date.
Notwithstanding anything in the above Section 4 to the contrary, applicable monthly Base Rent only for the Expansion Premises shall be abated for the months of August, 2014 and August, 2015 (the Expansion Space Rent Abatement Period); provided, however, all other payments required to be paid by Tenant to Landlord pursuant to the Lease for the Premises and the Expansion Space shall remain due and payable during the Expansion Space Rent Abatement Period. If at any time during the initial Term Landlord terminates this Lease as a result of an Event of Default of a monetary nature hereunder, the abatement of Base Rent for the Expansion Space provided for herein shall immediately become void, and Tenant shall promptly pay to Landlord, in addition to all other amounts due to Landlord under the Lease, the full amount of all Base Rent for the Expansion Space herein abated, multiplied by a fraction, the numerator of which is the number of full calendar months remaining in the Term for the Expansion Space as of the date Landlord terminates this Lease as a result of an Event of Default of a monetary nature and the denominator of which is 57.
Base Rent and Additional Rent, as defined in Paragraph 4.B below, with the exception of the initial Base Rent as provided in Paragraph 4.C below, shall be paid on or before the first (1st) day of each month. Base Rent and Additional Rent shall be payable without notice or demand and without any deduction, offset, or abatement, in lawful money of the United States of America. Base Rent and Additional Rent shall be paid directly to Sublessor at the applicable address set forth below Sublessor’s signature to this Sublease or such other address as may be designated in writing by Sublessor. Base Rent and Additional Rent for any period during the Term hereof which is for less than one (1) month of the Term shall be a pro rata portion of the monthly installment based on a thirty (30) day month. If an increase in Base Rent becomes effective on a date other than the first day of a calendar month, the Base Rent for that month shall be the sum of the two applicable rates, each prorated for the portion of the month during which the rate is in effect.
The “Property Management Fee” shall equal three percent (3.00%) of Base Rent due from Tenant. Tenant shall pay the Property Management Fee in accordance with Section 9.2 with respect to the entire Term, including any extensions thereof or any holdover periods by Tenant, regardless of whether Tenant is obligated to pay Base Rent, Operating Expenses or any other Rent with respect to any such period or portion thereof. During the Abatement Period (and any period of occupancy prior to the Term as further described in Section 9.5), the Property Management Fee shall be calculated as if Tenant were paying Seventy-Five Thousand Two Hundred Forty and 00/100 Dollars ($75,240.00) per month for Base Rent.
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