Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an "ADJUSTMENT DATE") by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGE" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" means the "Consumer Price Index-All Urban Consumers-Boston Metropolitan Area, All Items" compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇, ▇aive or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's notice to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Acusphere Inc)
Base Rent Adjustments. (a) Except for on January 1, 2006, Base Rent shall be increased on January 1 of each annual anniversary of the first day of the first full month year during the Term of this Lease (each an "ADJUSTMENT DATE"“Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "“CPI ADJUSTMENT PERCENTAGE" Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" “Index” means the "“Consumer Price Index-All Urban Consumers-Boston San Diego Metropolitan Area, All Items" ” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇, ▇aive or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, computation and Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's ’s notice to Tenant. Failure to deliver such notice shall not reduce, ▇▇▇▇▇, waive or diminish Tenant’s obligation to pay the adjusted Base Rent.
Appears in 1 contract
Base Rent Adjustments. Beginning on the first anniversary of the Sublease Commencement Date and on each successive anniversary thereafter during the Sublease Term ("ADJUSTMENT DATE"), Base Rent shall be increased on each annual anniversary by one-hundred percent (100%) of the first day percentage of the first full month during the Term of this Lease (each an "ADJUSTMENT DATE") by multiplying the Base Rent payable immediately before such Adjustment Date increase, if any, shown by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGE" means (i) a fraction, stated as a percentage, the numerator of which shall be the Consumer Price Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" means the "Consumer Price Index-All Urban Consumers-Boston Metropolitan , San Francisco Bay Area, All Items" compiled Items (base years 1982-1984 = 100) ("INDEX"), published by the U.S. United States Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made for the month immediately preceding the Adjustment Date as compared with the Index for the same month in the Indeximmediately preceding calendar year; provided, the revised Index however, that Base Rent shall be usedincreased by not less than three percent (3%) per year nor more than six percent (6%) per year. Sublessor shall calculate the amount of this increase in Base Rent after the United States Department of Labor publishes the statistics on which the amount of the increase will be based. Sublessor shall give written notice of the amount of the increase, subject to such adjustments as Landlord may reasonably deem appropriate in order multiplied by the number of installments of rent due under this Lease since the Adjustment Date. Sublessee shall pay this amount, together with the monthly rent next becoming due under this Sublease, and shall thereafter pay the monthly rent due under this Sublease at this increased rate, which shall constitute Base Rent. Sublessor's failure to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice required calculations promptly shall not reducebe considered a waiver of Sublessor's rights to adjust the monthly rent due, aba▇▇, ▇aive or diminish Tenantnor shall it affect Sublessee's obligation obligations to pay the adjusted increased Base Rent. If such notice the Index is delivered to Tenant changed so that the base year differs from that in effect on or after an Adjustment the Sublease Commencement Date, Tenant the Index shall pay be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the Sublease Term, the government index or computation with which it is replaced shall be used to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's notice to Tenantobtain substantially the same result as if the Index had not been discontinued or revised.
Appears in 1 contract
Sources: Sublease Agreement (Inhale Therapeutic Systems Inc)
Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an "ADJUSTMENT DATE") by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGE" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" means the "Consumer Price Index-All Urban Consumers-Boston Metropolitan Area, All Items" compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇abate, ▇aive waive or diminish Tenant's obligation to pay the adjusted Base Rent. Bas▇ ▇▇▇t. If such notice is delivered to Tenant on or after an Adjustment Date, Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's notice to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Acusphere Inc)
Base Rent Adjustments. Base Rent for the Expansion Premises shall be increased increased: (i) commencing on the date of each disbursement by Landlord of the Tenant Improvement Allowance (as defined in Section 6(c) below), by an amount equal to $____ per annum for each dollar or portion thereof disbursed by Landlord for the Tenant Improvements, and (ii) on each annual anniversary of the first day of the first full month during the Expansion Term of this Lease Second Amendment (each an "ADJUSTMENT DATE"“Expansion Premises Adjustment Date”) by multiplying the Base Rent payable immediately before such Expansion Premises Adjustment Date by the Expansion Premises Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Expansion Premises Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGE" “Expansion Premises Rent Adjustment Percentage” means (ix) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Expansion Premises Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Expansion Premises Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Expansion Term of this Lease, less (iiy) 1.00. "INDEX" “Index” means the "“Consumer Price Index-All Urban Consumers-Boston , Seattle - Tacoma Bremerton, WA Metropolitan Area, All Items" ” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇, ▇aive or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, computation and Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's ’s notice to Tenant. Failure to deliver such notice shall not reduce, a▇▇▇▇, waive or diminish Tenant’s obligation to pay the adjusted Base Rent. Notwithstanding the foregoing, any increase in the Base Rent based upon the Expansion Premises Rent Adjustment Percentage shall not be less than a minimum of 3%, nor more than a maximum of 6% on an annual basis. During the Base Term, Tenant shall continue to pay the full Base Rent with respect to the Original Premises as provided for in the Lease. During the Expansion Term, Tenant shall pay, as Additional Rent, the amounts and charges provided in Section 5 and Section 9(a) and (b) of the Lease with respect to Tenant’s Share of Expenses and Taxes for the Premises (including the Original Premises and the Expansion Premises), together with all other amounts and charges payable by Tenant to Landlord under the Lease.
Appears in 1 contract
Sources: Sublease (Atossa Genetics Inc)
Base Rent Adjustments. Beginning on June 1, 2003, and on each anniversary of such date during the term of this Sublease (June 1, 2003, and each such anniversary being an "Adjustment Date"), the Base Rent applicable immediately prior to the Adjustment Date shall be increased on each annual anniversary by the greater of three percent (3%) or the first day of percentage increase, if any, shown by the first full month during the Term of this Lease Consumer Price Index for all Urban Consumers, All Items (each an base year 1982-1984 = 100) for Los Angeles-Riverside-Orange County, California ("ADJUSTMENT DATEIndex") by multiplying the Base Rent payable immediately before such Adjustment Date published by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGE" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" means the "Consumer Price Index-All Urban Consumers-Boston Metropolitan Area, All Items" compiled by the U.S. United States Department of Labor, Bureau of Labor Statistics, for the month immediately preceding the Adjustment Date as compared with the Index for the month immediately preceding June 1, 2002. Sublessor shall calculate the amount of this increase in Base Rent after the United States Department of Labor, Bureau of Labor Statistics, publishes the statistics on which the amount of the increase will be based. If the increase in Base Rent so derived for an Adjustment Date exceeds five percent (1982-84 = 1005%), then the applicable increase for that Adjustment Date shall be five percent (5%). If a substantial change Sublessor shall give written notice of the amount of the increase, multiplied by the number of installments of Base Rent due under the Sublease since the Adjustment Date. Sublessee shall pay this amount, together with the increased monthly Base Rent next coming due under the Sublease, and shall thereafter pay the monthly Base Rate due under the Sublease at the increased rate, which will constitute Base Rent, until Base Rent is made in the Index, the revised Index shall be used, subject again increased pursuant to such adjustments as Landlord may reasonably deem appropriate in order this provision. Sublessor's failure to make the revised Index comparable required calculations promptly shall not be considered a breach or default of Sublessor under this Sublease or waiver of Sublessor's right to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the increase Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice nor shall not reduce, aba▇▇, ▇aive or diminish Tenantit affect Sublessee's obligation to pay the adjusted increased Base Rent. If the Index is changed so that the base year differs from that in effect on June 1, 2002, then the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the term of this Sublease, the governmental index or computation with which it is replaced shall be used to obtain substantially the same result as if the Index had not been discontinued or revised. As a concession to Sublessee and only if Sublessee does not become in default under this Sublease, Sublessor grants to Sublessee a total credit against Base Rent of Twenty-Nine Thousand Eight Hundred Twelve Dollars and Fifty Cents ($29,812.50) to be applied against the first five (5) calendar months of the term of this Sublease as follows: the amount of Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00) will be credited toward each of calendar months June, July, August and September, 2002, such notice is delivered to Tenant on or after an Adjustment Date, Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment that the installment of Base Rent payable by Tenant within 15 days Sublessee for each such calendar month will be equal to Six Thousand Six Hundred Twenty-Five Dollars ($6,625.00); the amount of Landlord's notice to TenantThree Thousand Three Hundred Twelve Dollars and Fifty Cents ($3,312.50) will be credited toward calendar month October, 2002, such that the installment of Base Rent payable by Sublessee for such month will by Nine Thousand Nine Hundred Thirty-Seven Dollars and Fifty Cents ($9,937.50).
Appears in 1 contract
Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an "ADJUSTMENT DATEAdjustment Date") by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGEAdjustment Percentage" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index (as defined below) for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEXIndex" means the "Consumer Price Index-Index - All Urban Consumers-Boston Consumers - San Diego, California Metropolitan Area, All Items" compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇▇▇▇, ▇aive waive, or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's notice to Tenant. Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the "Annual Estimate"), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12 of Tenant's Share of the Annual Estimate Payments for any fractional calendar month shall be prorated.
Appears in 1 contract
Sources: Lease Agreement (Cell Genesys Inc)
Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an "ADJUSTMENT DATE"“Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "“CPI ADJUSTMENT PERCENTAGE" Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEX" “Index” means the "“Consumer Price Index-All Urban Consumers-Boston Metropolitan AreaNortheast Region, All Items" ” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇, ▇aive or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, computation and Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's ’s notice to Tenant. Failure to deliver such notice shall not reduce, ▇▇▇▇▇, waive or diminish Tenant’s obligation to pay the adjusted Base Rent.
Appears in 1 contract
Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease June 1, 2009, and on June 1, 2010 (each an "ADJUSTMENT DATE"“Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "“CPI ADJUSTMENT PERCENTAGE" Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been mademade based upon the CPI Adjustment Percentage, 3 months before the first day of the first full month during the Term of this LeaseNew Commencement Date, less (ii) 1.00. "INDEX" “Index” means the "“Consumer Price Index-All Urban Consumers-Boston Metropolitan AreaSan Francisco-Oakland-San ▇▇▇▇, All Items" ” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇, ▇aive or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, computation and Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 30 days of Landlord's ’s notice to Tenant. Failure to deliver such notice shall not reduce, ▇▇▇▇▇, waive or diminish Tenant’s obligation to pay the adjusted Base Rent; provided, however, that in no event shall any adjustment be made after the termination or expiration of the Lease."
Appears in 1 contract
Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an "ADJUSTMENT DATEAdjustment Date") by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "CPI ADJUSTMENT PERCENTAGEAdjustment Percentage" means (i) a fraction, stated as a percentage, the numerator of which shall be the Index (as defined below) for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. "INDEXIndex" means the "Consumer Price Index-Index - All Urban Consumers-Boston Consumers - San Diego, California Metropolitan Area, All Items" compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇▇▇▇, ▇aive waive, or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's notice to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Cell Genesys Inc)
Base Rent Adjustments. (a) Except for on January 1. 2006. Base Rent shall be increased on January 1 of each annual anniversary of the first day of the first full month year during the Term of this Lease (each an "ADJUSTMENT DATE"“Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. "“CPI ADJUSTMENT PERCENTAGE" Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, or if no prior provided. Base Rent adjustment has been made, 3 15 months before the first day date of the first full month during the Term of this Leasesuch Base Rent adjustment, less (ii) 1.00. "INDEX" “Index” means the "“Consumer Price Index-Index- All Urban Consumers-Boston San Diego Metropolitan Area, All Items" ” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Indexindex. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation. Failure to deliver such notice shall not reduce, aba▇▇, ▇aive or diminish Tenant's obligation to pay the adjusted Base Rent. If such notice is delivered to Tenant on or after an Adjustment Date, computation and Tenant shall pay to Landlord an CONFIDENTIAL - DO NOT COPY amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord's ’s notice to Tenant. Failure to deliver such notice shall not reduce, ▇▇▇▇▇, waive or diminish Tenant’s obligation to pay the adjusted Base Rent.
Appears in 1 contract