Abated Base Rent Sample Clauses
The Abated Base Rent clause defines a period during which the tenant is not required to pay the full base rent, often as an incentive provided by the landlord at the start of a lease. Typically, this clause specifies the duration of the rent abatement, such as the first few months of the lease term, and may outline conditions under which the abatement could be revoked, such as tenant default. Its core practical function is to reduce the tenant’s initial financial burden, making the lease more attractive and facilitating occupancy.
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Abated Base Rent. Provided that Tenant is not then in default of this Lease (beyond the expiration of any applicable notice and cure period expressly set forth in this Lease), then during the period commencing on the first day of the first (1st) full calendar month of the Lease Term and continuing through and including the last day of the fourth (4th) full calendar month of the Lease Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $104,956.00 (i.e., $26,239.00 per month). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of the Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Abated Base Rent. Provided that no event of default is occurring on or before the last day of the third (3rd) full calendar month of the Lease Term, Tenant shall not be obligated to pay (i) any Base Rent (the “Full Base Rent Abatement”) otherwise attributable to the Premises during the two (2) month period commencing on the first (1st) day of the first (1st) full calendar month of the Lease Term and ending on the last day of the second (2nd) full calendar month of the Lease Term (the “Full Base Rent Abatement Period”), and (ii) seventy-five percent (75%) of any Base Rent (the “Partial Base Rent Abatement”) otherwise attributable to the Premises during the third (3rd) full calendar month of the Lease Term (the “Partial Base Rent Abatement Period”). For purposes of this Lease, the Full Base Rent Abatement and the Partial Base Rent Abatement shall collectively be referred to herein as the “Base Rent Abatement,” and the Full Base Rent Abatement Period and the Partial Base Rent Abatement Period shall collectively be referred to herein as the “Base Rent Abatement Period.” Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement shall equal One Hundred Nineteen Thousand Two Hundred Thirty-Seven and 39/100 Dollars ($119,237.39). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which increases shall be calculated without regard to such Base Rent Abatement. Additionally, Tenant shall be obligated to pay all “Additional Rent” (as that term is defined in Section 4.1 of this Lease) during the Base Rent Abatement Period. Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, or if this Lease, is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of the Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent app...
Abated Base Rent. Notwithstanding the foregoing, Tenant shall not be required to pay monthly installments of Base Rent otherwise attributable to the Premises for the initial four (4) full calendar months of the Lease Term (the “Base Rent Abatement Period”), which period shall be determined pursuant to the terms of this Section 3.2. If the Lease Commencement Date occurs on the first day of a calendar month, then the Base Rent Abatement Period shall commence on the Lease Commencement Date and expire on the last day of the fourth (4th) month of the Lease Term. If, however, the Lease Commencement Date occurs on a day other than the first day of a calendar month, then, the Base Rent Abatement Period shall commence on the first day of the first (1st) full calendar month of the Lease Term and expire on the last day of the fourth (4th) full calendar month of the Lease Term. The amount of the Abated Monthly . Base Rent shall be Thirty Thousand One Hundred Fifty-Three and 70/100 Dollars ($30,153.70) per month for each of the four (4) months of the Base Rent Abatement Period and shall not exceed a total of One Hundred twenty Thousand Six Hundred Fourteen and 80/100 Dollars ($120,614.80) in the aggregate. The foregoing Abated Monthly Base Rent has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default of this Lease during the Base Abatement Period and shall fail to cure such default within the notice and cure period, if any, permitted for such cure pursuant to this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to repay the Landlord all Base Rent abated hereunder to date, with interest as provided pursuant to this Lease from the date such Base Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of such Abated Monthly Base Rent as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. 621575.04/WLA B0452-039/11-6-07/sb/sb -▇- ▇▇▇▇ ▇▇▇▇▇▇▇ PLAZA [BrightSource Energy, Inc.]
Abated Base Rent. Provided that no event of default is occurring during the period commencing on first (1st) day of the second (2nd) full calendar month of the Lease Term and ending on last day of the fifth (5th) full calendar month of the Lease Term (the “Full Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Full Base Rent Abatement Period (the “Full Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Full Base Rent Abatement equals One Hundred Forty-Four Thousand Two Hundred Twenty-Eight and 00/100 Dollars ($144,228.00) (i.e., Thirty-Six Thousand Fifty-Seven and 00/100 Dollars ($36,057.00) per month). Tenant acknowledges and agrees that during such Full Base Rent Abatement Period such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which increases shall be calculated without regard to such Full Base Rent Abatement. Additionally, Tenant shall be obligated to pay all “Additional Rent” (as that term is defined in Section 4.1 of this Lease) during the Full Base Rent Abatement Period. Tenant acknowledges and agrees that the foregoing Full Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, or if this Lease, is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of the Full Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The foregoing Full Base Rent Abatement rights set forth in this Section 3.2 shall only apply to the extent that the Original Tenant or a Permitted Transferee Assignee (and not any other assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Full Base Rent Abatement Period.
Abated Base Rent. Provided that Tenant is not then in default of the Lease (as hereby amended), then during the period commencing on October 1, 2015 and ending on April 14, 2016 (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Expansion Premises during such Rent Abatement Period (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $307,068.39. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Lease (as hereby amended). If Tenant shall be in default under this Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of the Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, casualty or condemnation, then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Abated Base Rent. Provided that Tenant is not then in monetary default or material non-monetary under this Lease, then during the first two (2) full calendar month(s) of the Lease Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $145,452.60. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the dollar amount of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Abated Base Rent. Provided that Tenant is not in default of this Lease (after the expiration of any applicable notice and cure period) during the first twelve (12) months of the initial Lease Term, Tenant shall not be obligated to pay an amount equal to $153,702.50 of the monthly Base Rent attributable to the Premises for each of the first eight (8) full calendar months of the initial Lease Term.
Abated Base Rent. Notwithstanding the terms of Section 4.1.1, above, provided that Tenant is not in monetary or material non-monetary Default of the Lease, as amended hereby, Tenant shall not be obligated to pay monthly Base Rent for the Additional Basement Premises commencing as of the Additional Basement Premises Commencement Date and continuing through and including the date that is 5.6 (five and six/tenths) months following the Additional Basement Premises Commencement Date.
Abated Base Rent. Notwithstanding anything in Section 4.1.2.1, above, to the contrary, so long as there exists no monetary or material non-monetary Event of Default, Tenant shall not be obligated to pay any Base Rent attributable to the Premises (specifically disregarding any First Offer Space leased by Tenant under this Eighth Amendment, if applicable) for the months of February, 2022, March, 2022 and April, 2022 (such period, the “Extended Term Rent Abatement Period”, and the total amount of such Base Rent credit to be referred to herein as the “Total Extended Term Rent Abatement Amount”). At Tenant’s option, by notice to Landlord prior to February 1, 2022, Tenant shall have the right to utilize any unapplied portion of the Total Extended Term Rent Abatement Amount as an addition to the “Extended Term Tenant Improvement Allowance,” as that term is defined in Section 5.1 of this Eighth Amendment. Any portion of the Total Extended Term Rent Abatement Amount utilized as an addition to the Extended Term Tenant Improvement Allowance shall not be provided as a credit against monthly Base Rent hereunder and shall shorten (or eliminate, if applicable) the Extended Term Rent Abatement Period. Further, in no event shall Landlord, pursuant to the terms of this Section 4.1.2.2, provide an aggregate amount in excess of the Total Extended Term Rent Abatement Amount for application to monthly Base Rent due for the Premises and as an addition to the Extended Term Tenant Improvement Allowance.
Abated Base Rent. Provided that Tenant is not in monetary default under the terms and conditions of this Lease or non-monetary default (beyond any applicable notice and cure periods) under the terms and conditions of this Lease and is in occupancy of the Premises, then during the first two (2) full calendar months of the Lease Term, and (provided that Tenant does not previously timely and properly exercise its Termination Right), the twenty-fifth (25th) full calendar month of the Lease Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Rent Abatement”). The foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic default or material non-economic default under the Lease and shall fail to cure such economic default or material non-economic default within the notice and cure period, if any, permitted for cure pursuant to this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Rent Abatement Period.