Common use of Abated Base Rent Clause in Contracts

Abated Base Rent. Provided that no event of default is occurring during the seven (7) 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 seventh (7th) 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 One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e., $24,604.80 per month). Tenant acknowledges and agrees that during the 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 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 Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Office Lease (Rockley Photonics Holdings LTD)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring this Lease (beyond all applicable notice and cure periods), then during the seven three (73) month period commencing on the first (1st) day of the first second (1st2nd) full calendar month of the Lease Term and ending on continuing through and including the last day of the seventh fourth (7th4th) 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”), subject to Section 2.2 of the Tenant Work Letter. Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals One Hundred SeventyNinety-Two Nine Thousand Two Nine Hundred Thirty-Three Twenty and 60/100 00/100 Dollars (i.e., $24,604.80 per month199,920.00). Tenant acknowledges and agrees that during the 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 rental and perform 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, 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. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Lease (BioAtla, Inc.)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring the Lease beyond any applicable notice and cure period set forth in the Lease, then during (a) the seven period commencing retroactively on September 1, 2025 and ending on April 30, 2026 (7the "Existing Premises Base Rent Abatement Period"), and (b) month the period commencing on the first (1st) day of the first (1st) full calendar month of following the Lease Term Expansion Commencement Date and ending on the last day of the seventh eighth (7th8th) full calendar month of the Lease Term thereafter (the “"Expansion Premises Base Rent Abatement Period”)", and together with the Existing Premises Base Rent Abatement Period, the "Base Rent Abatement Period") Tenant shall not be obligated to pay any Base Rent otherwise attributable to (aa) the Existing Premises during such Existing Premises Base Rent Abatement Period (the “"Existing Premises Base Rent Abatement”"). Landlord , and Tenant acknowledge that (bb) the aggregate amount of the Expansion Premises during such Expansion Premises Base Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars Period (i.e., $24,604.80 per month). Tenant acknowledges and agrees that during the Base Rent Abatement Period, such abatement of Base Rent for the "Expansion 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 and together with the Existing Premises Base Rent Abatement PeriodAbatement, the "Base Rent Abatement"). Tenant ▇▇▇▇▇▇ acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseFifth Amendment, and for agreeing to pay the Base Rent rent and perform performing the terms and conditions otherwise required under this the Lease. If If, prior to the expiration of the Base Rent Abatement Period, Tenant shall be in default under this Lease the Lease, and shall fail to cure such default within the applicable notice and cure period, if any, period permitted for cure pursuant to this the terms and conditions of the Lease, or if this Lease, the Lease is terminated for any reason other than Landlord’s 's breach of this Leasethe Lease or an event of casualty or an event of condemnation, then (i) if the Lease is not terminated, 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 Extended Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to (ii) if the extent that Lease is terminated, for purposes of determining Landlord's damages under Applicable Laws, the Original Tenant (and not any assignee, or any sublessee or other transferee dollar amount of the Original Tenant’s interest in this Lease) is unapplied portion of the Tenant under this Lease during such Base Rent Abatement Periodas of the date of such termination shall be converted to a credit to be applied to the Base Rent applicable at the end of the Extended Term.

Appears in 1 contract

Sources: Office Lease (Impinj Inc)

Abated Base Rent. Provided that no event of Tenant is not then in default is occurring during the seven (7) month period commencing on the first (1st) day of the first (1st) full calendar month of the Lease Term and ending on (as hereby amended), then during the last day first two (2) years of the seventh (7th) full calendar month of the Lease Expansion Term (the “Base Rent Abatement Period”), Tenant shall not be obligated Tenant's obligation to pay any monthly installments of Base Rent otherwise attributable to the Expansion Premises during such Base Rent Abatement Period shall be modified as follows (the “Base Rent Abatement”). Landlord and Tenant acknowledge that ): (i) during the aggregate amount first full six (6) calendar months of the Expansion Term, one hundred percent (100%) of the Base Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars otherwise attributable to the Expansion Premises shall be abated, (i.e.ii) during the seventh (7th) through twelfth (12th) full calendar months of the Expansion Term, $24,604.80 per month). Tenant acknowledges and agrees that during fifty percent (50%) of the Base Rent Abatement Period, such abatement of Base Rent for otherwise attributable to the Expansion 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 Leasebe abated, 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 Leaseiii) during the thirteenth (13th) through twenty-fourth (24th) full calendar months of the Expansion Term, twenty-five percent (25%) of the Base Rent Abatement Periodotherwise attributable to the Expansion Premises shall be abated. Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseFirst Amendment, and for agreeing to pay the Base Rent and perform performing the terms and conditions otherwise required under this Leasethe Lease (as hereby amended). If Tenant shall be in default under this the Lease (as hereby amended) and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Leasethe Lease (as hereby amended), or if this Lease, the Lease is terminated for any reason other than Landlord’s breach of this the Lease, as amended, then Landlord may at its option, by notice to Tenant, require that (a) 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 Expansion Term, and (b) Tenant's right to ▇▇▇▇▇ all or any portion of the Base Rent attributable to the Expansion Premises shall immediately terminate and Tenant shall immediately be obligated to begin paying Base Rent for the Expansion Premises in full. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Lease (Cytori Therapeutics, Inc.)

Abated Base Rent. Provided that no event of Notwithstanding the foregoing, provided there is not any default is occurring during the seven (7) month period commencing on the first (1st) day of the first (1st) full calendar month of the by Tenant under this Lease Term beyond any applicable notice and ending on the last day of the seventh (7th) full calendar month of the Lease Term (the “Base Rent Abatement Period”)cure periods, Tenant shall not be obligated Landlord hereby agrees to ▇▇▇▇▇ Tenant's obligation to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period fifty percent (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount 50%) of the Base Rent during the Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three Months (such total amount of abated Base Rent being hereinafter referred to as the "Abated Base Rent"). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations under this Lease. Tenant acknowledges that any default by Tenant under this Lease beyond any applicable notice and 60/100 Dollars (i.e.cure periods will cause Landlord to incur costs not contemplated hereunder, $24,604.80 per month)the exact amount of such costs being extremely difficult and impracticable to ascertain, therefore, should Tenant at any time during the Lease Term be in default under this Lease beyond any applicable notice and cure periods, then the total sum of the Abated Base Rent so conditionally excused as of such date shall become immediately due and payable by Tenant to Landlord and any remaining Abated Base Rent shall no longer be available to Tenant as a rent credit from the date of such default. Tenant acknowledges and agrees that during the Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of nothing in this Section 3.2 is intended to limit any future increases other remedies available to Landlord at law or 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” equity under "Applicable Laws" (as that such term is defined in Section 4.1 Article 24 of this Lease) during in the Base Rent Abatement Period. event of a default by 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 periodDOCPROPERTY "Document number" 4879-3072-0534. DOCPROPERTY "Document version" 3 DOCPROPERTY "Client" 391132. DOCPROPERTY "Matter" 00001/ SAVEDATE \@ M-d-yy U48er IniP/ DOCPROPERTY "User Init" jll/ DOCPROPERTY "Typist Init" jll -6- DOCPROPERTY "Footer Notes" THE BEACON[Palisade Bio, 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 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 Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.Inc.]

Appears in 1 contract

Sources: Office Lease (Palisade Bio, Inc.)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring this Lease beyond applicable notice and cure periods, then during (i) the seven second (72nd) month period commencing on the first through fifth (1st) day of the first (1st5th) full calendar month of months following the Lease Term and ending on the last day of the seventh (7th) full calendar month of the Lease Term Commencement Date (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”), subject to Tenant's right to convert all or a portion of the Rent Abatement to pay for all or a portion (up to the Rent Abatement amount) of the Over-Allowance Amount set forth in Section 2 of the Tenant Work Letter, in which event the Rent Abatement Period shall be equitably reduced to reflect the amount of Rent Abatement converted to pay for all or a portion of the Over-Allowance Amount. Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e., $24,604.80 per month). Tenant acknowledges and agrees that during the 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 rental and perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease Lease, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this terms and conditions of the Lease, or if this Lease, Lease is terminated for any reason other than Landlord’s breach of this LeaseLease or an event of casualty or condemnation, at any time prior to the expiration of the Rent Abatement Period, 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. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Lease Agreement (Arcturus Therapeutics Holdings Inc.)

Abated Base Rent. Provided that no event Event of default Default is then occurring under this Lease during the seven (7) month period commencing on the first (1st) day of the first (1st) full calendar month of the Lease Term October 1, 2025 and ending on when the last day of the seventh (7th) full calendar month of the Lease Term Base Rent Abatement has been fully utilized (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 Period. The “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate ) means an amount of the Base Rent Abatement equals One equal to Two Million Five Hundred Sixty-Four Thousand Eight Hundred Seventy-Two Thousand Two Hundred Thirty-Three Nine and 60/100 15/100 Dollars (i.e., $24,604.80 per month2,564,879.15). Tenant acknowledges and agrees that during the 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, 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. The foregoing Base Rent abatement Abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, Tenant and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Office Lease (Amplitude, Inc.)

Abated Base Rent. Provided that no event of default (beyond the applicable 692500.09/WLA371593-00023/6-13-12/ao/ao -▇▇- ▇▇▇ ▇▇▇▇▇▇[▇▇▇▇▇▇ Realty, L.P.][Concur Technologies, Inc.] notice and cure period set forth in this Lease) is occurring then occurring, the Base Rent applicable to the Eleventh Floor Premises and the Twelfth Floor Premises during the seven four (74) month period commencing on the first (1st) day of the first (1st) full calendar month of the Lease Term Commencement Date and ending on the last day of immediately prior to the seventh fourth (7th4th) full calendar month “monthly” anniversary of the Lease Term Commencement Date (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 abated (the “"Base Rent Abatement”"). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars $428,542.64 (i.e., $24,604.80 107,135.66 per month). Tenant acknowledges and agrees that during the such Base Rent Abatement Period, such abatement of Base Rent for the Eleventh Floor Premises and the Twelfth Floor Premises shall have no effect on the calculation of the Base Rent for any other portion of the Premises, or on 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 and if this Lease, Lease is then terminated for any by reason other than Landlord’s breach of this Leasesuch default, 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, termination 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 Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, Tenant and any Permitted Transferee Assignee and 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 Base Rent Abatement Period.

Appears in 1 contract

Sources: Office Lease (Concur Technologies Inc)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring this Lease (beyond all applicable notice and cure periods), then during the seven three (73) month period commencing on the first (1st) day of the first second (1st2nd) full calendar month of the Lease Term and ending on continuing through and including the last day of the seventh fourth (7th4th) 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”), subject to Section 2.2 of the Tenant Work Letter. Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals One Hundred SeventyNinety-Two Nine Thousand Two Nine Hundred Thirty-Three Twenty and 60/100 00/100 Dollars (i.e., $24,604.80 per month199,920.00). Tenant acknowledges and agrees that during the 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 rental and perform 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, 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. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Lease Agreement (BioAtla, Inc.)

Abated Base Rent. Provided that no event of default is occurring beyond the applicable notice and cure periods provided in this Lease during the seven (7) 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 seventh (7th) full calendar month of the initial 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 One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e., $24,604.80 per month). [*************************** ********************************************************************************************] Tenant acknowledges and agrees that during the 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, 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. The foregoing Base Rent abatement Abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, Tenant and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Sublease Agreement (Amplitude, Inc.)

Abated Base Rent. Provided that no event Tenant is not then in Default of default is occurring this Lease, then during the seven (7) month period commencing on the first (1st) day of the first (1st) initial full calendar month of the Lease Term and ending on the last day of the seventh third (7th3rd) 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 One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e., $24,604.80 per month)2,767,115.01. Tenant acknowledges and agrees that If at any time during the Base Rent Abatement Period, such Tenant would otherwise be entitled to an abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses rent payable by Tenant under this Lease ( e.g., pursuant to the terms provisions of this LeaseArticle 13, which increases below, or Section 19.5.2, below), then the Rent Abatement Period shall be calculated without regard deemed suspended during the period during which Tenant is otherwise entitled to such Base Rent Abatement. Additionally, Tenant an abatement of rent payable under this Lease and shall be obligated reinstated following the expiration of such other period of rent abatement (subject to pay all “Additional Rent” (as that term is defined in Section 4.1 the aggregate amount of this Lease) during the Base Rent Abatement Periodin the immediately preceding sentence). 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 rental and perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default Default under this Lease Lease, and shall fail to cure such default Default within the notice and cure period, . if any, permitted for cure pursuant to terms and conditions of this Lease, or if this Lease, Lease is terminated for any reason other than as described in Article 11, below, Article 13, below, or 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 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 Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Office Lease (Airbnb, Inc.)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring this Lease beyond all applicable notice and cure periods, then during the seven initial six (7) month period commencing on the first (1st) day of the first (1st6) full calendar month months of the Lease Term and ending on the last day of the seventh (7th) full calendar month of the Must‑Take Space Lease Term (the “Base "MTS Rent Abatement Period”"), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises Must‑Take Space during such Base MTS Rent Abatement Period (the “Base "MTS Rent Abatement”"). Landlord and Tenant acknowledge that that, provided the entire MTS Rent Abatement Period occurs during Lease Year 2, the aggregate amount of the Base MTS Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e., $24,604.80 per month). Tenant acknowledges and agrees that during the 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 Period2,768,640.00. Tenant acknowledges and agrees that the foregoing Base MTS Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Base Rent rental and perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in monetary or material non-monetary default under this Lease prior to the expiration of the MTS 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, then the MTS Rent Abatement Period shall be tolled until Tenant cures said default and Tenant shall immediately be obligated to begin paying Base Rent for the Must-Take Premises in full, but any unapplied portion of the MTS Rent Abatement shall be abated again if Landlord subsequently accepts a cure by Tenant of such monetary or if material non-monetary default. If this Lease, Lease is terminated prior to the expiration of the MTS Rent Abatement Period for any reason other than Landlord’s breach of this Lease, then or an event of casualty or condemnation, then, for purposes of calculating Landlord's remedies under Section 1951.2 of the California Civil Code, if any, the dollar amount of the unapplied portion of the Base MTS Rent Abatement as of the 4▇▇▇-▇▇▇▇-▇▇▇▇.5 391174.00001/5-24-21//mem -8- C▇▇▇▇▇ RIDGE [Turning Point Therapeutics] 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 Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement PeriodTerm.

Appears in 1 contract

Sources: Lease (Turning Point Therapeutics, Inc.)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring the Amended Lease, then during the seven (7) month period commencing on the first full calendar month following the Third Extended Term Commencement Date and ending on fourth (1st) day of the first (1st4th) full calendar month following the Third Extended Term Commencement Date (i.e., the months of the Lease Term July, August, September and ending on the last day of the seventh (7thOctober 2025) full calendar month of the Lease Term (the “Base Fifth Amendment Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Fifth Amendment Rent Abatement Period (the “Base Fifth Amendment Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Base Fifth Amendment Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars $109,425.00 (i.e., $24,604.80 27,356.25 per month). Tenant acknowledges and agrees that during the 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 Fifth Amendment Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseFifth Amendment, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under this the Amended Lease. If Tenant shall be in default under this the Amended Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this the Amended Lease, or if this Lease, the Amended Lease is terminated for any reason reason, other than Landlord’s breach as the result of this casualty or condemnation, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Amended Lease, then one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Fifth Amendment Rent Abatement Period, with interest as provided pursuant to the 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 the Base Fifth Amendment Rent Abatement as of the date of such default or termination, as the case may be, termination shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Fifth Extended Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.

Appears in 1 contract

Sources: Lease (Benitec Biopharma Inc.)

Abated Base Rent. Provided that no event Tenant is not then in default of default is occurring during this Lease, beyond any applicable notice and cure periods, then for the seven (7) month period commencing on the first (1st) day of the first (1st) full calendar month of the Lease Term August 1, 2015 and ending on the last day of the seventh (7th) full calendar month of the Lease Term continuing through and including November 30, 2015 (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 , except that, notwithstanding the foregoing, Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e.shall remain obligated to pay, $24,604.80 per month). Tenant acknowledges and agrees that during the 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 accordance with the terms of this Lease, which increases shall be calculated without regard (i) Tenant’s Share of Operating Expenses attributable to such Base Rent Abatement. Additionallyutilities, heating and air conditioning provided by Landlord to the Premises (in addition to any amounts payable by Tenant shall be obligated pursuant to pay Section 6.2 below), and (ii) any and all “Additional Rent” (taxes and other charges as that term is defined set forth in Section 4.1 of this Lease) during the Base Rent Abatement Period4.5 below. Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, Lease and for agreeing to pay the Base Rent and perform performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease Lease, beyond any applicable notice and cure periods, 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 Lease and Landlord thereafter terminates 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 pay to Landlord all Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to this Lease from the date such Rent would have otherwise been due but for the abatement provided herein, or (ii) that 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. The foregoing total amount of Base Rent abatement right set forth in this Section 3.2 shall be personal to abated during the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement PeriodPeriod shall not exceed $583,259.60 (i.e., $145,814.90 per month).

Appears in 1 contract

Sources: Office Lease (ZS Pharma, Inc.)