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 this Lease (beyond all applicable notice and cure periods), then during the two (2) month period commencing on the first (1st) day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Base Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals Two Hundred Four Thousand Three Hundred Sixty-Four and 80/100 Dollars ($204,364.80). 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 rental and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease during the Base Rent Abatement Period, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to terms and conditions of 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 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 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 Tenant is not then in default of the Lease, as amended, then during the months of July and August for calendar years 2013, 2014, 2015, 2016, 2017, 2018, and 2019 (the foregoing 14 months to be known collectively as 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”). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Amendment, and for agreeing to pay the rental and performing the terms and conditions otherwise required under this Amendment. If Tenant shall be in default under the Lease, as amended, 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, as amended, or if the Lease is terminated for any reason other than (i) termination in accordance with the provisions of Article 11 of the Lease, following damage or destruction of the Premises, (ii) termination in accordance with the provisions of Article 13 of the Lease, following condemnation of the Buildings or the Project, or (iii) termination following Landlord’s breach of the 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 Extended 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 anything in this Lease to the contrary, so long as Tenant is not in default under this Lease beyond applicable notice and cure periods, Tenant shall be entitled to an abatement of Base Rent with respect to each of the Initial Premises for the first full calendar month of the initial Term for such portion of the Premises (each, a “Rent Abatement Period”). The maximum total amount of Base Rent abated with respect to the Initial, Premises in accordance with the foregoing shall equal $222,407.50 (the “Abated Base Rent”). If Tenant defaults under this Lease beyond applicable notice and cure periods at any time during the Rent Abatement Period and fails to cure such default within any applicable cure period under the Lease, then Tenant’s right to receive the Abated Base Rent shall toll (and Tenant shall be required to pay Base Rent during such period of any Tenant default) until Tenant has cured, to Landlord’s reasonable satisfaction, such default and at such time Tenant shall be entitled to receive any unapplied Abated Base Rent until fully applied. Only Base Rent shall be abated pursuant to this Section, as more particularly described herein , and Escalation Rent and all other rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions of this Lease.
Abated Base Rent. The paragraph below the Base Rent schedule located in Section 1.4 of the Lease is hereby amended and restated as the following: “Notwithstanding the foregoing, Base Rent shall be abated, in the amount of (i) $32,754.15 per month, for the first full calendar of the Term and (ii) $14,858.48 per month, for the second full calendar of the Term; provided, however, that if a Default (defined in Section 19.1) exists when any such abatement would otherwise apply, such abatement shall be deferred until the date, if any, on which such Default is cured.”
Abated Base Rent. Provided that Tenant is not then in default of this Lease, then (i) during the first three (3) full calendar months of the Lease Term (the “First Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such First Rent Abatement Period (the “First Rent Abatement”), and (ii) during the fourth (4th) through twelfth (12th) full calendar months of the Lease Term (the “Second Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to a portion of the Premises consisting of 2,313 rentable square feet during such Second Rent Abatement Period (the “Second Rent Abatement,” and together with the First Rent Abatement, collectively, the “Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Rent Abatement equals $176,259.39 (i.e., which consists of the sum of $118,434.49 on account of the First Rent Abatement and $57,825.00 on account of the Second Rent Abatement). In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Article 19, below, then as a part of Landlord’s exercise of its remedies as set forth in Section 19.2, below, Landlord shall be entitled to make a claim to recover the monthly Base Rent that was abated under the provisions of this Section 3.2.
Abated Base Rent. Provided that Tenant is not then in default of the Lease, then during the last two (2) full calendar months of the Extended 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 Three Hundred Ninety Thousand Seven Hundred Ninety-Nine and 74/100 Dollars ($390,799.74). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Second Amendment, and for agreeing to pay the rental and performing the terms and conditions otherwise required under the Lease. If Tenant shall be in default under the Lease during the Rent Abatement Period and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to the Lease, then the Rent Abatement as of the date of such default shall terminate effective immediately and Tenant shall immediately be obligated to recommence paying Base Rent for the Premises in full and Tenant shall have no further right to any Rent Abatement hereunder.
