Adjustment of Base Rent. Base Rent for the month of August, 2005, shall be payable in advance in the amount of Seventy-Nine Thousand Three Hundred Ten and 88/100 Dollars ($79,310.88) (being calculated by applying 10.25% for part of the month and applying 12.23% for the other part of the month). Beginning on September 1, 2005, and continuing through December, 2005, Base Rent shall be payable in advance in equal, consecutive monthly installments of Eighty Six Thousand, Five Hundred Forty-Two and 33/100 Dollars ($86,542.33) on or before the tenth (10th) day of each calendar month. Commencing on January 1, 2006, and on each January 1 thereafter during the term of this Lease, the Base Rent shall be increased by two and one half percent (2.5%) per annum of the previous year's Base Rent. If the previous year's Base Rent is for a partial year, Base Rent shall be adjusted as if it were a full year. Notwithstanding anything contained herein to the contrary, with respect to the adjustment of Base Rent for calendar year 2006, the increased Base Rent for calendar year 2006 will be calculated as if the annual rental rate of One Million, Thirty-Eight Thousand, Five Hundred Seven and 96/00 Dollars ($1,038,507.96) applied to the entire calendar year 2005. Notwithstanding anything contained herein to the contrary, the parties hereto acknowledge and agree that all calculations of Base Rent, including approximately seven and one-half (7 1/2) months of Base Rent for the calendar year 2005, have been made by multiplying the Initial Purchase Price by 10.25% per annum. In the event the Initial Purchase Price is adjusted and increased by the Purchase Price Adjustment, then all calculations of Base Rent shall be adjusted accordingly (including the Base Rent for calendar year 2005, if applicable) before adding and calculating the 2.5% annual increases as set forth above.
Adjustment of Base Rent. Effective July 1, 2012, Base Rent shall be in accordance with the Rent Schedule set forth below: 7/1/12 – 6/30/13 $ 38,433.75 per month 7/1/13 – 6/30/14 $ 39,472.50 per month 7/1/14 – 6/30/15 $ 40,511.25 per month
Adjustment of Base Rent. Commencing on January 1, 2007, and on each January 1 thereafter (each an "Adjustment Date") during the term of this Lease, the Base Rent shall be increased, if any, by an amount equal to the greater of (A) two percent (2%) per annum of the prior year's Base Rent, or (B) the percentage by which the CPI on the Adjustment Date shall have increased over the CPI figure in effect on the immediately preceding January 1. If the previous year's Base Rent is for a partial year, Base Rent shall be annualized based on the highest annual rate effective during the preceding year. Notwithstanding anything contained herein to the contrary, the parties hereto acknowledge and agree that all calculations of Base Rent as specified herein have been made by multiplying the Initial Purchase Price by the Lease Rate. In the event the Initial Purchase Price or Lease Rate is adjusted, then all calculations of Base Rent shall be adjusted accordingly.
Adjustment of Base Rent. Lessor and Lessee hereby agree that §51(a) of the Lease, as amended, shall be replaced with the following Base Rent Schedule (the “Base Rent Schedule”): June 1, 2011 June 1, 2011 - January 31, 2012 126,715 SF x $0.89 SF/NNN $ 112,776.00 February 1, 2012 February 1, 2012 - January 31, 2013 126,715 SF x $1.06 SF/NNN $ 134,318.00 February 1, 2013 February 1, 2013 - January 31, 2014 126,715 SF x $1.11 SF/NNN $ 140,654.00 February 1, 2014 February 1, 2014 - January 31, 2015 126,715 SF x $1.17 SF/NNN $ 148,257.00 February 1, 2015 February 1, 2015 - January 31, 2016 126,715 SF x $1.21 SF/NNN $ 153,325.00 February 1, 2016 February 1, 2016 - January 31, 2017 126,715 SF x $1.25 SF/NNN $ 158,394.00 February 1, 2017 February 1, 2017 - January 31, 2018 126,715 SF x $1.28 SF/NNN $ 162,195.00 February 1, 2018 February 1, 2018 - January 31, 2019 126,715 SF x $1.32 SF/NNN $ 167,264.00 February 1, 2019 February 1, 2019 - January 31, 2020 126,715 SF x $1.36 SF/NNN $ 172,332.00 February 1, 2020 February 1, 2020 - July 31, 2021 126,715 SF x $1.40 SF/NNN $ 177,401.00 February 1, 2021 February 1, 2021 - July 31, 2022 126,715 SF x $1.44 SF/NNN $ 182,470.00 February 1, 2022 February 1, 2022 - July 31, 2023 126,715 SF x $1.48 SF/NNN $ 187,538.00 February 1, 2023 February 1, 2023 - July 31, 2024 126,715 SF x $1.52 SF/NNN $ 192,607.00
Adjustment of Base Rent. Commencing on January 1, 2007, and on each January 1 thereafter (each an "Adjustment Date") during the term of this Lease, the Base Rent shall be increased, if any, by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum of the prior year's Base Rent, or (B) the percentage by which the CPI in effect on the Adjustment Date shall have increased over the CPI figure in effect on the then just previous Adjustment Date. If the previous year's Base Rent is for a partial year, it shall be annualized. In the event the Total Development Costs are adjusted and increased by the Total Development Costs Adjustment, then all calculations of Base Rent shall be adjusted accordingly.
Adjustment of Base Rent. The Base Rent provided for herein includes a component applicable to Basic Cost (as hereinafter defined) equal, on a per annum basis to Base Year 2002 per square foot of rentable area of office space in the Building, such amount being hereinafter referred to as "Base Operating Expense".
Adjustment of Base Rent. In the event that Tenant exercises its right to lease any Offer Space under Section 1.1(d) and/or exercises its Extension -------------- Option under Section 2.1(b), the Base Rent for such space or such period shall -------------- be determined as follows:
Adjustment of Base Rent. Commencing on the first January 1 subsequent to the Commencement Date, and on each January 1 thereafter (each an "Adjustment Date") during the Term, the Cost Component of the Base Rent shall be increased by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum of the prior year's Cost Component, or (B) the percentage by which the Consumer Price Index on the Adjustment Date shall have increased over the Consumer Price Index figure in effect on the then just previous Adjustment Date. If the previous year's Cost Component of Base Rent is for a partial year, such Cost Component shall be annualized for purposes of this adjustment.
Adjustment of Base Rent. The monthly Base Rent shall be increased by Eleven Thousand Five Hundred Thirty and 50/100ths Dollars ($11,530.50). The total current monthly Base Rent, subject to future escalations, will be Forty Thousand One Hundred Thirteen and 55/100ths Dollars ($40,113.55).
Adjustment of Base Rent. On the first anniversary of the 2007 Space Commencement Date and on each subsequent anniversary of the 2007 Space Commencement Date during the Lease Term (each such anniversary date is referred to as an “Adjustment Date”), the Base Rent per square foot of Rentable Area of the Premises shall be increased by an amount equal to three percent (3%) of the Base Rent, expressed as an amount per square foot of Rentable Area, payable by Tenant hereunder during the twelve month period immediately preceding such Anniversary Date. Landlord shall notify Tenant of the adjusted Base Rent prior to each Anniversary Date and Tenant shall pay the increased Base Rent in equal monthly installments on the first day of each calendar month beginning on such Anniversary Date and continuing until the Base Rent is further increased hereunder. Said adjustments of the Base Rent shall not limit any subsequent rent adjustments pursuant to Article 5 hereof.
