Base Rent Abatement. Provided that no event of default is occurring during the four (4) month period commencing on May 1, 2019 and ending August 31, 2019 (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 Seventy-Six Thousand One Hundred Forty-Five and 40/100 Dollars ($76,145.40) (i.e., $19,036.35 per month). Tenant acknowledges and agrees that during 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, 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. Notwithstanding the foregoing, at any time prior to June 30, 2019, subject to the terms and conditions set forth herein below and in the Work Letter, Tenant, in Tenant’s sole discretion, shall have the right, exercisable by written notice (the “Abatement Conversion Notice”) to Landlord on or prior to June 30, 2019, to elect to apply up to $38,072.70 of the Base Rent Abatement (the “Converted Amount Cap”), into an increase to the Improvement Allowance Amount (as that term is defined in Article 1 of the Work Letter) in lieu of applying the same towards Tenant’s Base Rent, which converted am...
Base Rent Abatement. In the event of repair, reconstruction and restoration by or through Landlord as herein provided, the Base Rent payable under this Lease shall be abated proportionately to the degree to which Tenant’s use of the Premises is materially impaired during the period of such repair, reconstruction or restoration. Tenant shall not be entitled to any compensation or damages for loss of the use of the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration, nor shall Tenant be entitled to any insurance proceeds, including those in excess of the amount required by Landlord for such repair, reconstruction or restoration. Tenant shall not be released from any of its obligations under this Lease due to damage or destruction of the Building and/or the Premises except to the extent and upon the conditions expressly stated in this Section 17.
Base Rent Abatement. So long as no Default by Tenant has occurred, Tenant shall not be required to pay Base Rent for the first (I st) three (3) months following the First Amendment Premises Rent Commencement Date (such period, the “First Amendment Premises Free Rent Period”); provided, however, that the total amount of Base Rent abated during the First Amendment Premises Free Rent Period shall not exceed Sixty-Four Thousand Two Hundred Forty-Two Dollars ($64,242.00) (the “Free Rent Cap”). During the First Amendment Premises Free Rent Period, Tenant shall continue to be responsible for the payment of all of Tenant’s other Rent obligations under the Lease with respect to the First Amendment Premises, including (without limitation) all Additional Rent such as Operating Expenses, the Property Management Fee, and costs of utilities. Upon the occurrence of any Default, the First Amendment Premises Free Rent Period shall immediately expire, and Tenant shall no longer be entitled to any further abatement of Base Rent pursuant to this Section.
Base Rent Abatement. Notwithstanding anything to the contrary in this § 1.5.3, commencing with the first full calendar month following the Commencement Date, Tenant’s Monthly Installment of Base Rent shall be abated for a period of two (2) months (the “Abatement Period”). If Tenant shall default under the Lease and fail to cure within the time permitted for cure thereunder, while the Abatement Period is still in effect, the Abatement Period shall thereupon terminate, and Tenant shall commence paying the Base Rent under the Lease. In addition, if Tenant shall default under the Lease at any time and fail to cure within the time permitted for cure thereunder, Tenant shall upon demand pay Landlord the amount of Base Rent theretofore abated, multiplied by a fraction, the numerator of which is the number of months then remaining in the initial Term at the time of the default, and the denominator of which is the total number of months in the initial Term (without limiting Landlord’s other remedies).
Base Rent Abatement. Notwithstanding anything to the contrary contained in this Lease, but provided Tenant is not in Default hereunder, Landlord hereby grants Tenant an abatement of the Base Rent payable during the Base Term pursuant to the following schedule (“Base Rent Abatement”): Time Period 11.1.16 to 4.30.17 3.1.23 to 4.30.23 2.1.18 to 4.30.18 3.1.24 to 4.30.24 3.1.19 to 4.30.19 3.1.25 to 4.30.25 3.1.20 to 4.30.20 3.1.26 to 4.30.26 3.1.21 to 4.30.21 3.1.27 to 4.30.27 3.1.22 to 4.30.22 If the Commencement Date does not occur on November 1, 2016 because Tenant delivers the Early Commencement Date Notice to Landlord as provided in Section 2, the dates in the table above shall be revised to reflect the actual Commencement Date that occurs before November 1, 2016. Such revisions shall be reflected in the Commencement Date Amendment. If Tenant is in Default during a month in which the Base Rent Abatement applies, then the monthly abatement then in effect shall temporarily cease for the period of time that Tenant remains in Default. Once the Default no longer exists, the Base Rent Abatement will thereupon resume, but the total period of abatement shall not be lengthened to accommodate any period of time that the Base Rent Abatement temporarily ceased due to a Default by Tenant. Tenant shall pay the full amount of Base Rent due in accordance with the provisions of this Lease. The administration rent set forth in Section 5 below shall not be abated and shall be based on the amount of Base Rent that would have been payable but for the Base Rent Abatement.
Base Rent Abatement. Notwithstanding anything to the contrary in Section 3(a)(i) above, Landlord agrees to waive payment of Base Rent for the first full Lease Month following the Rent Commencement Date. If the Rent Commencement Date occurs on a day other than the first day of the calendar month, Base Rent for the partial month in which the Rent Commencement Date occurs shall be due and payable on the Rent Commencement Date.
Base Rent Abatement. Provided that Tenant is not then in Default of this Lease, then Tenant shall have no obligation to pay the Base Rent otherwise attributable to (i) the portion of the initial Premises commonly known as Suite 500, containing approximately 26,514 rentable square feet of space during the first two (2) full calendar months of the initial Lease Term, (ii) the entire initial Premises during the third (3rd) through seventh (7th) full calendar months of the initial Lease Term, (iii) the Must-Take Premises during the first (1st) through fourth (4th) full calendar months of the initial Lease Term following the Must-Take Premises Lease Commencement Date, and (iv) the initial Premises and the Must-Take Premises during the twenty-fifth (25th) full calendar month of the initial Lease Term. Landlord and Tenant acknowledge that the total amount of the abatement of Base Rent under subsection (i) above equals $353,520.00 (i.e., $176,760.00 per month), the total amount of the abatement of Base Rent under subsection (ii) above equals $1,743,233.35 (i.e., $348,646.67 per month), the total amount of the abatement of Base Rent under subsection (iii) above equals $1,137,944.00 (i.e., $284,486.00 per month), and the total amount of the abatement of Base Rent under subsection (iv) above equals $662,899.83.
Base Rent Abatement. Base Rent payable for the first two (2) full months of the Original Term (i.e., for September, 1994 and October, 1994) at the rate of Twenty Thousand Four Hundred Fifty-One and 60/100ths Dollars ($20,451.60) per month shall be fully abated and waived.
Base Rent Abatement. Landlord hereby agrees to xxxxx Tenant’s payment of Base Rent only during the first five (5) months of the Lease Term (e.g. during the months of April 2007 — August, 2007, referred to as the “Base Rent Abatement Period”). For purposes of this Lease, the Base Rent Commencement Date shall be deemed to be September 1, 2007. Notwithstanding the foregoing, Tenant hereby agrees to pay Tenant’s Proportionate Share of Operating Expenses as set forth in Article III below during the entire Term of the Lease, including the Base Rent Abatement Period described above. The entire amount of Base Rent otherwise due and payable during the Base Rent Abatement Period shall become immediately due and payable upon the occurrence of an event of material default by Tenant under the Lease.
Base Rent Abatement. Provided that Tenant is not then in default of the terms of the Lease, after expiration of any applicable notice and cure periods, Tenant will have no obligation to pay any Base Rent with respect to the Substitute Premises for the period for the first (1st) month of the Substitute Premises Term. Notwithstanding the foregoing, Tenant’s Share of annual Direct Expenses shall not be abated during the Substitute Premises Term.
