Abatement of Base Rent Clause Samples
The Abatement of Base Rent clause allows for the temporary suspension or reduction of the tenant's obligation to pay base rent under certain specified circumstances, such as when the leased premises become unusable due to damage or other events beyond the tenant's control. Typically, this clause outlines the conditions that trigger rent abatement, the duration of the abatement period, and any limitations or procedures for notifying the landlord. Its core practical function is to protect tenants from financial liability when they are unable to use the premises, thereby allocating risk and ensuring fairness in situations where the tenant cannot benefit from the leased space.
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Abatement of Base Rent. Notwithstanding anything to the contrary contained in Section 3.1 above or Article 4 below, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay the following (collectively, the “Abated Rent”): (i) the monthly installments of Base Rent otherwise payable with respect to the entire initial Premises described in Section 6.2 of the Summary for the second (2nd) through eleventh (11th) months of the initial Lease Term; and (ii) the portion of the monthly installments of Base Rent otherwise payable with respect to 5,000 rentable square feet of such initial Premises for the twelfth (12th) through seventeenth (17th) months of the initial Lease Term. Notwithstanding the foregoing to the contrary, if as of the first (1st) day of such applicable month scheduled for abatement, Tenant is in monetary or material non-monetary default under this Lease, the monthly Base Rent abatement for such applicable month shall be suspended until such default is cured by Tenant (with the amount of such suspended Abated Rent to be credited toward the next monthly installment of Base Rent due under this Lease for the first (1st) month immediately following such cure that Tenant is not in monetary or material non-monetary default under this Lease). During such abatement periods, Tenant shall remain responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in the early termination of this Lease pursuant to the provisions of Article 19 below, then as a part of the recovery set forth in Article 19, Landlord shall be entitled to the recovery of the unamortized balance of the Abated Rent. For purposes of this Section 3.2, the Abated Rent shall be amortized on a straight-line basis over the scheduled 6-year initial Lease Term, and the unamortized balance thereof shall be determined based upon the unexpired portion of such initial Lease Term as of the date of such early termination.
Abatement of Base Rent. Notwithstanding Section 3 above to the contrary, and provided that Tenant faithfully performs all of the material terms and conditions of the Lease (as amended hereby), (i) Landlord shall ▇▇▇▇▇ Tenant’s obligation to pay the monthly installments of Base Rent otherwise payable by Tenant for the 560 Expansion Space (the “560 Abated Rent”) for the first six (6) months of the 560 Expansion Space Term, and (ii) Landlord shall ▇▇▇▇▇ Tenant’s obligation to pay the monthly installments of Base Rent otherwise payable by Tenant for the 180 Expansion Space (the “180 Abated Rent”) for the first six (6) months of the 180 Expansion Space Term. During such abatement periods, Tenant shall remain responsible for the payment of all of its other monetary obligations under the Lease (as amended hereby). In the event of a default by Tenant under the terms of the Lease (as amended hereby) beyond all applicable notice and cure periods that results in the early termination of Tenant’s interest therein pursuant to the provisions of Article 24 of the Original Lease, then as a part of the recovery set forth therein, Landlord shall be entitled to the recovery of the unamortized balance of the 560 Abated Rent and 180 Abated Rent. For purposes of this Section 4, the (A) 560 Abated Rent shall be amortized on a straight-line basis over the 560 Expansion Space Term, and the unamortized balance thereof shall be determined based upon the unexpired portion of the 560 Expansion Space Term as of the date of such early termination, and (B) 180 Abated Rent shall be amortized on a straight-line basis over the 180 Expansion Space Term, and the unamortized balance thereof shall be determined based upon the unexpired portion of the 180 Expansion Space Term as of the date of such early termination.
Abatement of Base Rent. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in default of its obligations under the Lease, Tenant shall be entitled to receive an abatement of the Base Rent due during the first two (2) full calendar months of the Term (the “Abatement Period”) subject to the provisions of this Section 4.01(c). During the Abatement Period, Tenant shall still be responsible for the payment of all of its other monetary obligations under the Lease (including, without limitation, Tenant’s Share of Operating Expenses, Insurance Expenses and Tax Expenses, as defined below). In the event of a default by Tenant under the terms of the Lease that results in early termination pursuant to the provisions of Article XII of this Lease, and as part of the recovery set forth in Article XII of this Lease, Landlord shall be entitled to the recovery of the Base Rent that was abated under the provisions of this Section 4.01(c).
Abatement of Base Rent. Notwithstanding anything to the contrary contained in this Lease, Landlord hereby waives Tenant’s obligation to pay Base Rent for the first six (6) months of the initial Lease Term (the “Abatement Period”).
Abatement of Base Rent. Notwithstanding anything to the contrary contained herein and provided that Tenant is not in default under this Lease beyond any applicable notice and cure period, Landlord hereby agrees to ▇▇▇▇▇ fifty percent (50%) of Tenant’s obligation to pay monthly Base Rent for the second (2nd) through thirteenth (13th) full calendar months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease including, without limitation, Tenant’s obligation to pay Tenant’s Share of Direct Expenses and for utilities for the Premises pursuant to Article 6 below. In the event of a default by Tenant under the terms of this Lease that results in the early termination of this Lease pursuant to the provisions of Section 19.2 of this Lease, then as a part of the recovery set forth in Section 19.2 of this Lease, Landlord shall be entitled to recover the unamortized balance, as of the date of such termination of this Lease, of the monthly Base Rent that were abated under the provisions of this Section 3.2. Amortization pursuant to the immediately preceding sentence shall be calculated on a straight-line basis, based on a sixty-six (66) month amortization schedule commencing as of the Lease Commencement Date.
Abatement of Base Rent. Notwithstanding the Base Rent schedule attached to this Amendment as Exhibit B, Base Rent in the amount of $30,000.00 shall be abated from Base Rent first coming due for the Expansion Space in the second (2nd) full month of the Expansion Space Term and partially in the third (3rd) full month of the Expansion Space Term.
Abatement of Base Rent. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to a▇▇▇▇ T▇▇▇▇▇’s obligation to pay the monthly installments of Base Rent otherwise payable by Tenant for the Premises (collectively, the “Abated Rent”) during the second (2nd) through fourth (4th) full calendar months of the initial Lease Term (collectively, the “Abatement Period”). During the Abatement Period, Tenant shall remain responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in the early termination of this Lease pursuant to the provisions of Article 19 below, then as a part of the recovery set forth in Article 19 below, Landlord shall be entitled to recover the full amount of the Abated Rent.
Abatement of Base Rent. Notwithstanding Section 3.1 above, provided that Tenant fully performs all of the terms and conditions of the Lease, as hereby amended, and is not in default under the Lease, as hereby amended, Landlord hereby agrees to ▇▇▇▇▇ Tenant's obligation to pay the monthly installments of Base Rent otherwise payable for the Premises (the "Abated Rent") during the period from April 1, 2018 through and including September 30, 2018. During such abatement period, Tenant shall remain responsible for the payment of all of its other monetary obligations under the Lease, as hereby amended. In the event of a default by Tenant under the terms of the Lease, as hereby amended, that results in the early termination of the Lease, as hereby amended, pursuant to the provisions of Section 19 of the Original Lease, then as a part of the recovery set forth in Section 19 of the Original Lease, Landlord shall be entitled to recover the Abated Rent.
Abatement of Base Rent. There shall be no adjustment or abatement of Base Rent as a result of a Condemnation.
Abatement of Base Rent. Notwithstanding the provisions of the Basic Lease Information and Tenant's obligation to pay monthly Base Rent pursuant to Section 4.1, Tenant shall be entitled to an abatement of Base Rent (the "Rent Abatement") for the period commencing on the Rent Commencement Date until the ninth (9th) month anniversary of the Rent Commencement Date (the "Rent Abatement Period") provided that no Event of Default has occurred.