Example ContractsClausesBase Rent for the Expansion Premises
Base Rent for the Expansion Premises
Base Rent for the Expansion Premises contract clause examples
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If the fair market rent is not established prior to the commencement of the renewal term, then Tenant shall pay fixed annual rent and payments for Operating Expenses and Taxes for the 14th Floor Expansion Space at the rate that was in effect for the 14th Floor Expansion Space immediately prior to the commencement of the renewal term and, as soon as the fair market rent is determined for the 14th Floor Expansion Space, Tenant shall pay to Landlord within ten (10) days of written demand any deficiency in the amount paid by Tenant during such period, or, if Tenant paid excess rent during such period, Landlord shall credit such excess payments to the rent amounts next due.

From and after the Effective Date, all references in the Lease to the “Premises” shall be deemed to mean the Existing Premises plus the Expansion Premises.

The “Expansion Premises Commencement Date” shall be the date Landlord Delivers the Expansion Premises to Tenant. Upon the request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Expansion Premises Commencement Date and the expiration date of the Lease in substantially the form of the “Acknowledgement of Commencement Date” attached to the Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder.

In any case where Landlord exercises its right of termination as provided in Section 2.2 hereof, or temporary repossession as provided in Section 2.3 hereof, as to a portion of the Premises, the Base Rent after the effective date of such termination shall be the product of # the Base Rent immediately prior to the withdrawal or temporary repossession and # a fraction the numerator of which shall be the number of usable parking spaces located on the Premises immediately after the effective date of the partial termination or temporary repossession and the denominator shall be the number of parking spaces located on the Premises immediately before such partial termination or temporary repossession. A “usable” parking space is a space that continues to be reasonably usable in Tenant’s ordinary course of business, as opposed to a space that, for example, but without limitation, is functionally cut off and not reasonably usable, whether due to the particular configuration of the space re-taken by Landlord, or otherwise. Further, in the case of the termination of this Lease as to only a portion of a Particular Parking Lot, it shall nonetheless be deemed that no Base Rent is due as to the remainder of such Particular Parking Lot if “reasonably comparable” (as defined in Section 2.3) access does not continue to exist to the same public streets that existed prior to such partial termination. Such Base Rent as so adjusted to reflect a permanent termination of a portion of the Premises shall remain in effect (but, to be clear, shall still be subject to the annual increases discussed in Section 3.2) until the end of the Term of this Lease. Such Base Rent as so adjusted to reflect a temporary repossession shall remain in effect (but, to be clear, shall still be subject to annual increases discussed in Section 3.2) until the portion of the Premises so repossessed is returned to Tenant, at which time the reduction in Base Rent due to such temporary repossession shall end. For avoidance of doubt, when the temporary repossession ends, the Base Rent shall return to being, on a going forward basis, what it would have been had the temporary repossession never occurred. Landlord and Tenant agree that upon return of the Lot 20 Construction Area, the Base Rent shall be increased by $2,800 per month, adjusted for any increase as required by Section 3.2 hereof

Rent. All Rent and other payments required to be made by Tenant to Landlord hereunder shall be payable to Landlord at Landlord’s Remittance Address set forth in the Basic Lease Information, or at such other address as Landlord may specify from time to time by written notice delivered in accordance herewith. Tenant’s obligation to pay Rent and any other amounts to Landlord under the terms of this Lease shall not be deemed satisfied until such Rent and other amounts have been actually received by Landlord.

RENT. LESSEE shall pay LESSOR base rent of one hundred five thousand nine hundred ninety nine (105,999) U.S. dollars per year, drawn on a U.S. bank, in monthly installments of $8,833.25 on or before the first day of each calendar month, without offset or deduction. One monthly rental payment, plus an appropriate traction of a monthly payment for any portion of a month at the commencement of the lease term, shall be made upon LESSEE’S execution of this lease. All payments shall be made to LESSOR at 200 West Cummings Park, Woburn, Massachusetts 01801, or at such other place designated in writing by LESSOR. If the “Cost of Living” has increased as shown by the Consumer Price Index (Boston, Massachusetts, all items, all urban consumers), U.S. Bureau of Labor Statistics (“Index”), then base rent due during each calendar year of this lease and all extensions thereof shall be adjusted in proportion to any increase in the Index. The base month from which to determine the amount of each increase shall be January 2016, which figure shall be compared with the figure for November 2016, and each November thereafter to determine the increase (if any) in base rent to be paid during the following calendar year commencing each January 1.

Notwithstanding anything to the contrary contained in this Lease, Tenant’s Share of each earthquake deductible or occurrence of uninsured earthquake damage affecting to Premises shall not exceed $4.50 per rentable square foot of the Premises with respect to which Tenant is then obligated to pay Base Rent under this Lease (the “Initial Cap”). On each annual anniversary of the Commencement Date, the Initial Cap shall be reduced by $1.50 per rentable square foot of the Premises with respect to which Tenant is then obligated to pay Base Rent under this Lease. Following earthquake damage to the Project, Tenant shall pay Tenant’s Share of any such deductible or uninsured damage in equal monthly installments (not to exceed the Initial Cap) amortized over the remaining balance of the Base Term of the Lease.

*Note: During the first six (6) full months of the Lease Term, Tenant shall pay Base Rent for the Premises as if the Premises contained only 43,225 RSF but shall be entitled to use the entire Premises during such period. Tenant shall be required to pay Tenant's Share of Direct Expenses attributable to such period for the entire Premises without reduction, as well as for all utilities and other services.

The Rent Commencement Date for the Expansion Space is November 22. 2020. subject to extension as provided above in Paragraph 3. Beginning on the Rent Commencement Dale, Minimum Rent and all additional rent will be calculated using a Floor Area of 50,148 rentable square feet.

Omniox is entering into an amendment with Landlord to the Omniox Lease pursuant to which Omniox will surrender the Expansion Premises and will lease an alternate premises in the Building.

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