Abated Rent. Notwithstanding anything contained herein or in the Lease to the contrary, Base Rent in the monthly amount of $16,333.33 for Third Expansion Space-A, and $7,500.50 for Third Expansion Space-B, and Tenant’s Proportionate Share of Taxes, utilities and other services, and other costs collectively referred to as Tenant Costs in Xxxxxxxxx 0X of the Lease shall be abated for the time periods specified above. All such amounts are referred to herein as the “Abated Rent”. If, at the time any Abated Rent is due to Tenant, there is an uncured Event of Default under the Lease and Landlord has not terminated the Lease as provided for in Paragraph 20(a) of the Lease, Landlord shall provide Tenant with a second written notice of such Event of Default, unless the original Event of Default was pursuant to Paragraph 19C or Paragraph 19D of the Lease in which case the above-described notice is not required, and Tenant shall have the same right to cure such Event of Default as Tenant had when Tenant was first notified of the Event of Default as provided for in Paragraph 19 of the Lease, as modified by Paragraph 21 of this Amendment. No further Rent shall be abated unless, following such second written notice, Tenant cures such Event of Default within applicable cure period described in the Lease. Notwithstanding anything to the contrary in this Paragraph 3(c), in the event of termination of the Lease as a result of Tenant’s failure to cure an Event of Default, in addition to any other amounts recoverable by Landlord pursuant to the terms of the Lease, Tenant shall pay to Landlord an amount equal to the unamortized portion (as of the date of such default) of any Abated Rent realized by Tenant pursuant to this Amendment based on a sixty (60) month straight line amortization schedule with the first month of such period being July, 2010.
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Samples: Lease Agreement, Lease Agreement (Rules-Based Medicine Inc)
Abated Rent. Notwithstanding anything contained herein or As reflected in Section 1.1 (j), (a) Tenant shall have no obligation to pay monthly Base Rent for the Lease to first three (3) full months of the contraryTerm, commencing with the Commencement Date resulting in an abatement of monthly Base Rent in the monthly amount of Twenty Thousand and No/100 Dollars ($16,333.33 20,000.00) per month and (b) Base Rent during the next three (3) full months of the Term shall be partially abated resulting in an abatement of monthly Base Rent in the amount of Fourteen Thousand and No/100 Dollars ($14,000.00) per month and (c) Base Rent during the next six (6) full months of the Term shall be partially abated resulting in an abatement of monthly Base Rent in the amount of Eight Thousand and No/100 Dollars ($8,000.00) per month (the “Abated Rent Period”) resulting in an aggregate abatement of monthly Base Rent in the amount of One Hundred Fifty Thousand and No/100 Dollars ($150,000.00). If this Lease is terminated during such Abated Rent Period, Tenant shall not be entitled to any such rent abatement after the date of termination nor shall Tenant be entitled to assert any right to rent abatement after such termination against any sums due Landlord. The rent abatement granted under this Section is solely for Third Expansion Space-Athe benefit of the entity executing this Lease as tenant and is not transferable to any assignee or subtenant. In the event of a default by Tenant under the terms of this Lease which results in early termination pursuant to the provisions hereof, and $7,500.50 for Third Expansion Space-Bthen as a part of the recovery to which Landlord shall be entitled shall be included a portion of such rent which was abated under the provisions of this Section, and Tenant’s Proportionate Share which portion shall be determined by multiplying the total amount of Taxesrent which was abated under this Section by a fraction, utilities and other services, and other costs collectively referred to as Tenant Costs the numerator of which is the number of months remaining in Xxxxxxxxx 0X the Term of the Lease shall be abated for the time periods specified above. All such amounts are referred to herein as the “Abated Rent”. If, at the time any Abated Rent is due to Tenant, there is an uncured Event of Default under the Lease and Landlord has not terminated the Lease as provided for in Paragraph 20(a) of the Lease, Landlord shall provide Tenant with a second written notice of such Event default and the denominator of Default, unless which is the original Event number of Default was pursuant to Paragraph 19C or Paragraph 19D months during the Term of the Lease in which case the above-described notice that Tenant is not required, and Tenant shall have the same right obligated to cure such Event of Default as Tenant had when Tenant was first notified of the Event of Default as provided for in Paragraph 19 of the Lease, as modified by Paragraph 21 of this Amendment. No further Rent shall be abated unless, following such second written notice, Tenant cures such Event of Default within applicable cure period described in the Leasepay monthly Base Rent. Notwithstanding anything to the contrary in this Paragraph 3(c)foregoing, in during the event of termination of the Lease as a result of Tenant’s failure to cure an Event of Default, in addition to any other amounts recoverable by Landlord pursuant to the terms of the LeaseAbated Rent Period, Tenant shall pay to Landlord an amount equal to the unamortized portion (as of the date of such default) of any Abated Rent realized by Tenant pursuant to this Amendment based on a sixty (60) month straight line amortization schedule with the first month of such period being July, 2010all utilities and operating costs.
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Abated Rent. Notwithstanding anything contained herein or in the Lease to the contrary, Base Rent in the monthly amount of $16,333.33 for Third Expansion Space-A, and $7,500.50 for Third Expansion Space-B, and Tenant’s Proportionate Share of Taxes, utilities and other services, and other costs collectively referred to as Tenant Costs in Xxxxxxxxx 0X of the Lease shall be abated for the time periods specified above. All such amounts are referred to herein as the “Abated Rent”. If, at the time any Abated Rent is due to Tenant, there is an uncured Event of Default under the Lease and Landlord has not terminated the Lease as provided for in Paragraph 20(a) of the Lease, Landlord shall provide Tenant with a second written notice of such Event of Default, unless the original Event of Default was pursuant to Paragraph 19C or Paragraph 19D of the Lease in which case the above-described notice is not required, and Tenant shall have the same right to cure such Event of Default as Tenant had when Tenant was first notified of the Event of Default as provided for in Paragraph 19 of the Lease, as modified by Paragraph 21 of this Amendment. No further Rent shall be abated unless, following such second written notice, Tenant cures such Event of Default within applicable cure period described in the Lease. Notwithstanding anything to the contrary contained in Section 5.1.1 above, provided that there is no then-existing Event of Default (as defined below) by Tenant under this Paragraph 3(c), Lease: (a) Landlord shall xxxxx Tenant’s obligation to pay the monthly installments of Base Rent otherwise payable by Tenant for the Initial Premises (and those Suite Spaces in the event of termination Remaining Premises for which the Lease Commencement Date applicable thereto has actually occurred) during the first six (6) months of the Lease as a result of Tenant’s failure to cure an Event of Default, Initial Premises Term (the “Initial Abated Rent”); and (b) in addition to any other amounts recoverable the Initial Abated Rent, Landlord shall also xxxxx Tenant’s obligation to pay Base Rent during the Initial Premises Term in a total amount equivalent to the total amount of monthly Base Rent actually paid by Tenant for the Initial Premises (and those Suite Spaces in the Remaining Premises for which the Lease Commencement Date applicable thereto has actually occurred) for the seventh (7th) through the tenth (10th) months of the Initial Premises Term (the “Subsequent Abatable Rent”), which Subsequent Abatable Rent shall be abated by Landlord pursuant as follows: Landlord shall apply the Subsequent Abatable Rent against fifty percent (50%) of the monthly installments of Base Rent otherwise payable for the Initial Premises (and those Suite Spaces in the Remaining Premises for which the Lease Commencement Date applicable thereto has actually occurred) commencing with the thirty-first (31st) month of the Initial Premises Term and for each month thereafter until such Subsequent Abatable Rent is exhausted. By way of illustration only, if (i) the Subsequent Abatable Rent equaled $500,000.00, and (ii) the Lease Commencement Date for each and every Suite Space in the Premises had occurred on or prior to the terms first (1st) day of the Lease, Tenant shall pay to Landlord an amount equal to the unamortized portion thirty-first (as 31st) month of the date Initial Premises Term, then Tenant would have the obligation to pay Base Rent as follows after applying such fifty percent (50%) abatement of such default) the Subsequent Abatable Rent and provided there is no then-existing Event of any Abated Rent realized Default by Tenant pursuant to under this Amendment based on a sixty Lease: (60A) $97,793.64 (i.e., $195,587.27 / 2) per month during the thirty-first (31st) through thirty-fifth (35th) months of the Initial Premises Term; and (B) $184,555.47 (i.e., $195,587.27 - $11,031.80 [representing the then-remaining balance of the Subsequent Abatable Rent]) for the thirty-sixth (36th) month straight line amortization schedule with of the first month of such period being July, 2010Initial Premises Term.
Appears in 1 contract
Samples: Lease Agreement (Fusion-Io, Inc.)
Abated Rent. Notwithstanding anything contained herein or in the Lease to the contrary, Base Rent in the monthly amount of $16,333.33 for Third Expansion Space-A, and $7,500.50 for Third Expansion Space-B, and Tenant’s Proportionate Share of Taxes, utilities and other services, and other costs collectively referred to as Tenant Costs in Xxxxxxxxx 0X of the Lease shall be abated for the time periods specified above. All such amounts are referred to herein as the “Abated Rent”. If, at the time any Abated Rent is due to Tenant, there is an uncured Event of Default under the Lease and Landlord has not terminated the Lease as provided for in Paragraph 20(a) of the Lease, Landlord shall provide Tenant with a second written notice of such Event of Default, unless the original Event of Default was pursuant to Paragraph 19C or Paragraph 19D of the Lease in which case the above-described notice is not required, and Tenant shall have the same right to cure such Event of Default as Tenant had when Tenant was first notified of the Event of Default as provided for in Paragraph 19 of the Lease, as modified by Paragraph 21 of this Amendment. No further Rent shall be abated unless, following such second written notice, Tenant cures such Event of Default within applicable cure period described in the Lease. Notwithstanding anything to the contrary contained in Section 5.1.1 above, provided that there is no then-existing Event of Default (as defined below) by Tenant under this Paragraph 3(c), Lease: (a) Landlord shall xxxxx Tenant’s obligation to pay the monthly installments of Base Rent otherwise payable by Tenant for the Initial Premises (and those Suite Spaces in the event of termination Remaining Premises for which the Lease Commencement Date applicable thereto has actually occurred) during the first six (6) months of the Lease as a result of Tenant’s failure to cure an Event of Default, Initial Premises Term (the “Initial Abated Rent”); and (b) in addition to any other amounts recoverable the Initial Abated Rent, Landlord shall also xxxxx Tenant’s obligation to pay Base Rent during the Initial Premises Term in a total amount equivalent to the total amount of monthly Base Rent actually paid by Tenant for the Initial Premises (and those Suite Spaces in the Remaining Premises for which the Lease Commencement Date applicable thereto has actually occurred) for the seventh (7th) through the tenth (10th) months of the Initial Premises Term (the “Subsequent Abatable Rent”), which Subsequent Abatable Rent shall be abated by Landlord pursuant as follows: Landlord shall apply the Subsequent Abatable Rent against fifty percent (50%) of the monthly installments of Base Rent otherwise payable for the Initial Premises (and those Suite Spaces in the Remaining Premises for which the Lease Commencement Date applicable thereto has actually occurred) commencing with the thirty-first (31st) month of the Initial Premises Term and for each month thereafter until such Subsequent Abatable Rent is exhausted. By way of illustration only, if (i) the Subsequent Abatable Rent equaled $125,000.00, and (ii) the Lease Commencement Date for each and every Suite Space in the Premises had occurred on or prior to the terms first (1st) day of the Lease, Tenant shall pay to Landlord an amount equal to the unamortized portion thirty-first (as 31st) month of the date Initial Premises Term, then Tenant would have the obligation to pay Base Rent as follows after applying such fifty percent (50%) abatement of such default) the Subsequent Abatable Rent and provided there is no then-existing Event of any Abated Rent realized Default by Tenant pursuant to under this Amendment based on a sixty Lease: (60x) $34,950.86 (i.e., $69,901.71 / 2) per month during the thirty-first (31st) through thirty-third (33rd) months of the Initial Premises Term; and (y) $51,857.46 (i.e., $71,994.88 - $20,147.42 [representing the then-remaining balance of the Subsequent Abatable Rent]) for the thirty-fourth (34th) month straight line amortization schedule with of the first month of such period being July, 2010Initial Premises Term.
Appears in 1 contract
Samples: Lease Agreement (Fusion-Io, Inc.)
Abated Rent. Notwithstanding anything contained herein or Provided Subtenant is not in the Lease Default under this Sublease, Subtenant shall be entitled to the contrary, an abatement of Monthly Base Rent in the monthly amount of $16,333.33 for Third Expansion Spacefirst, second, third, fourth, fifth, sixth, thirteenth and twenty-A, and $7,500.50 for Third Expansion Space-B, and Tenant’s Proportionate Share of Taxes, utilities and other services, and other costs collectively referred to as Tenant Costs in Xxxxxxxxx 0X of the Lease shall be abated for the time periods specified above. All such amounts are referred to herein as fifth Sublease Months (the “Abated Monthly Base Rent”). IfIf Subtenant Defaults at any time during the Sublease Term, at and any notice for such Default references the time any potential loss of Abated Rent and is due addressed to TenantSubtenant’s Chief Executive Officer in addition to the parties listed in Section 12 below, there is an uncured Event of Default under the Lease and Landlord has not terminated the Lease as provided for in Paragraph 20(a) then a proportion of the Lease, Landlord Abated Monthly Base Rent shall provide Tenant with a second written notice of such Event of Default, unless the original Event of Default was pursuant to Paragraph 19C or Paragraph 19D of the Lease in which case the above-described notice is not required, immediately become due and Tenant shall have the same right to cure such Event of Default as Tenant had when Tenant was first notified of the Event of Default as provided for in Paragraph 19 of the Lease, as modified by Paragraph 21 payable (“Forfeited Abated Rent”). For purposes of this Amendment. No further Sublease, Forfeited Abated Rent shall be abated unlesscalculated by multiplying the sum of all Abated Monthly Base Rent provided for under this Section 5(d) for the entire Sublease Term, following such second written notice, Tenant cures such Event multiplied by the number of Default within applicable cure period described remaining months in the LeaseSublease Term following the Default which results in such forfeit, and divided over the total number of months in the Sublease Term. Notwithstanding anything to The payment by Subtenant of the contrary in this Paragraph 3(c), Forfeited Abated Monthly Base Rent in the event of termination a Default shall not limit or affect any of the Lease as a result of TenantSublandlord’s failure other rights or remedies available to cure an Event of DefaultSublandlord pursuant to this Sublease or at law or in equity. Only Monthly Base Rent shall be abated, and all Additional Rent and other costs and charges specified in addition to any other amounts recoverable by Landlord this Sublease shall remain due and payable pursuant to the terms provisions of the Leasethis Sublease. Cornerstone OnDemand Sublease January 31, Tenant shall pay to Landlord an amount equal to the unamortized portion (as of the date of such default) of any Abated Rent realized by Tenant pursuant to this Amendment based on a sixty (60) month straight line amortization schedule with the first month of such period being July, 2010.2006
Appears in 1 contract
