Base Rent Credit. Notwithstanding anything herein to the contrary but subject to Tenant not being in default and all prior rental payments having been received by Landlord not later than the fifth (5th) of each month, the Base Rent (and only the Base Rent) for the calendar month of November 2020 shall be discounted one hundred percent (100%) (the “Base Rent Credit”). Tenant understands and agrees that the foregoing Base Rent Credit is conditioned upon Tenant's not being in breach under this Lease. Accordingly, upon the occurrence of any breach under this Lease, the foregoing Base Rent Credit shall immediately become null and void, and any Base Rent previously credited to Tenant shall immediately become due and payable, and Tenant shall no longer receive any credit on account of such Base Rent Credit.
Base Rent Credit. Subject to the Rent Credit Cap (as hereinafter defined) and the provisions of this clause (4), if any of the Tenant Improvement Allowance funds remain unallocated and undisbursed as of February 1, 2020 (the “Unused Allowance”), Landlord shall, without any notice by or to Tenant, apply the Unused Allowance as a credit against 50% of the monthly installment of Base Rent for February 2020 and 50% of the monthly installments of Base Rent for each successive month thereafter until the Unused Allowance is exhausted. Any Base Rent credit provided in accordance with this clause (4) shall be deducted from the Tenant Improvement Allowance which Landlord is obligated to provide to Tenant. Notwithstanding anything to the contrary herein, in no event shall Tenant be entitled to utilize more than Five Hundred Sixty-Three Thousand Seven Hundred Twelve Dollars ($563,712) of the Tenant Improvement Allowance (i.e., 20% of the Tenant Improvement Allowance) (the “Rent Credit Cap”) towards Rent credit. Any Unused Allowance in excess of the Rent Credit Cap will be forfeited. Notwithstanding anything to the contrary herein, none of the Tenant Improvement Allowance shall be applied to Base Rent during any period that Tenant is in Default under the Lease as amended or there is an unbonded lien outstanding against the Building or the Premises or Tenant’s interest therein by reason of work done, or claimed to have been done, or materials supplied or fabricated, or claimed to have been supplied or fabricated, to or for Tenant or the Premises. References in this clause (4) to the Tenant Improvement Allowance and the Unused Allowance do not mean or include the Tenant Credit.
Base Rent Credit. Provided that a Lease Event of Default is not then occurring, Lessor agrees to provide a Base Rent credit in the amount of $1,500,000.00 ("Rent Credit Amount"), which shall be applied to offset the Base Rent due under the Lease commencing on August 1, 2014 until fully applied; however, Lessor shall have the right, upon five (5) days prior written notice to Lessee, to instead pay the remaining portion of the Rent Credit Amount not already applied to offset the Base Rent directly to Lessee in a lump sum, which lump sum payment shall (i) be increased to include all Privilege Taxes (as defined below) that Lessee shall be required to pay as a result of Lessee making additional Base Rent payments; and (ii) be made within thirty (30) days of the date of such notice. The right to the abatement set forth above shall be personal to American Express Travel Related Services Company, Inc., a New York corporation ("Named Lessee"), and shall not be transferable to any assignee or other transferee of Named Lessee's interest in the Lease.
Base Rent Credit. On the New Commencement Date, in consideration for Lessee waiving (pursuant to PARAGRAPH 2 (l) above) its right to require Lessor to provide separately metered power to certain areas of the Premises, Lessor agrees that Lessee shall receive a $15,000.00 credit against the Base Rent first due and payable thereafter. Lessor and Lessee agree that this credit is not and shall not be deemed an Inducement Provision (as such term is defined in PARAGRAPH 13.3 of the Lease).
Base Rent Credit. Provided that there is not an event of default by Tenant, Landlord shall credit $64,923.00 against the first amounts of Base Rent otherwise becoming due. Landlord shall credit an additional $698.00 per day after November 1, 2004, against the first amounts of Base Rent otherwise becoming due in the event that Landlord is unable to deliver possession of the Premises to Tenant on or before November 1, 2004, due solely to reasons under Landlord’s control.
Base Rent Credit. In consideration of the transactions relating to the JUMP Facility and the execution and delivery of the JUMP Lease, commencing on January 1, 2014, and continuing each month thereafter for a total of one hundred fifty six (156) consecutive calendar months (inclusive of the month of January, 2014), the then-applicable monthly installment of annual Base Rent under this Lease Agreement shall be reduced by an amount equal to $17,666.67 (the “Base Rent Credit”); provided, that the Base Rent Credit shall terminate immediately and prospectively as of the effective date of a termination of the JUMP Lease pursuant to the exercise by the tenant thereunder of its early termination option under Section 3.05(b) of the JUMP Lease.
Base Rent Credit. Provided that Tenant is not in default of this Lease beyond any applicable grace period at any time during the rent credit period, Tenant shall have a Rent credit in the amount of the Base Rent owed for the first three full calendar month of the Lease Term, which credit shall be applied to the installments of Base Rent due for those months. Accordingly, if the Commencement Date occurs on a day other than the first day of the month, the prorated Rent for the first partial month of the Lease Term shall be due on the Commencement Date and the rent credit period shall commence on the first day of the first full calendar month of the Lease Term and shall expire on the last day of the third full calendar month of the Lease Term. Tenant shall remain liable for all additional rent owed under this Lease during the rent credit period, such as, but not limited to, Tenant's Allocated Share of Operating Costs.
Base Rent Credit. In the event that after completion of the construction of the Tenant Improvements and Landlord’s last disbursement of the Tenant Improvement Allowance pursuant to Section 2.2 and, if applicable, Section 2.4.1, above, any portion of the Tenant Improvement Allowance remains undisbursed and unallocated (the “Unused Tenant Improvement Allowance”), Tenant shall have the right, by written notice to Landlord, to elect to apply up to Fifty Thousand and 00/100 Dollars ($50,000.00) of any such Unused Tenant Improvement Allowance as a credit against Base Rent next coming due under the Lease, provided that in any given month the amount of such credit shall not exceed fifty percent (50%) of the Base Rent otherwise due and owing for such month.
Base Rent Credit. Subject to Tenant satisfying the requirements outlined herein, Tenant may apply up to fifty percent (50%) of any unused amount of the Tenant Improvement Allowance as a credit against the Base Rent next due commencing as of the date which is sixty (60) days after the Outside Disbursement Date (as may be extended pursuant to 804296.08/LAH4321-047/10-7/08/nng/law EXHIBIT X-00- XXXXX XXXX XXXXX[Xxxxx Xxxx Lease] Section 2.4.1 above). However, in lieu of such Base Rent credit, Landlord shall have the right, at its election, to make a cash payment to Tenant in the amount of the credit which would otherwise apply, provided such payment is made to Tenant on or before the date which is fifteen (15) days prior to the date such Base Rent credit would otherwise commence. Notwithstanding the foregoing, if Tenant is in default under this Lease after expiration of applicable notice and cure periods at the time that a credit against Base Rent would otherwise be due or Landlord would otherwise be required to make a cash payment to Tenant pursuant to the foregoing provisions of this Section 2.4.2, Landlord may postpone such credit or such payment until such default has been fully cured.
Base Rent Credit. Notwithstanding anything to the contrary contained in the Lease or this Fourth Amendment, Landlord and Tenant hereby agree that Tenant shall receive a credit against Base Rent for the calendar month of September, 2018, in the total amount of Seven Thousand Two Hundred Sixty-Nine and 32/100 Dollars ($7,269.32) as reimbursement to Tenant for over-payment of Base Rent from the Rent Commencement Date to the Effective Date due to mutual mistake in the calculation of the rentable square footage of the original Premises during such period of time prior to this Fourth Amendment.
