Base Rent. (i) Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”). (ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii). (iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount. (iv) As used herein:
Appears in 4 contracts
Sources: Master Lease Agreement (Aimco OP L.P.), Master Lease Agreement (Aimco OP L.P.), Master Lease Agreement (Aimco OP L.P.)
Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) Tenant shall pay by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to Landlordthe account of Landlord as provided to Tenant, during the Term, an annual base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Rent Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current same basis. Base Rent will increase and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by an amount equal any law or regulation now or hereafter applicable to the CPI Rent Adjustment AmountPremises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.
(iv) As used herein:
Appears in 4 contracts
Sources: Lease (Precision Biosciences Inc), Lease (Precision Biosciences Inc), Lease (Heat Biologics, Inc.)
Base Rent. (i) Commencing on the Rent Commencement Date, Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equalequal monthly installments as set forth in Section 8 of the Summary in advance on or before the Rent Commencement Date and, consecutive monthly installmentsthereafter, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Concurrently with Tenant’s execution of this Lease, Tenant shall deliver to Landlord an amount equal to $475,149.74, which amount shall be comprised of the following: (i) the Base Rent as payable by Tenant for the Premises for the first (1st) full month of the Lease Term following the Rent Commencement Date shall be ($ ) (the “Initial Base Rent”i.e., $383,551.88).
; and (ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization Estimated Expenses (as defined below) payable by Tenant for the Premises for the first (1st) full month of the Property occurs and Lease Term (B) [Insert Fixed Date] i.e., $91,597.86). If any rental payment date (such earlier date, including the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Lease Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had with respect to the Base Rent been increased annually by an or the Rent Commencement Date with respect to Estimated Expenses) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the CPI Rent Adjustment Amount number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on each anniversary of a time basis shall be prorated on the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease yearssame basis. For the avoidance of doubt, Tenant’s obligation for the Initial payment of Base Rent shall be fixed and without adjustment until it is reset commence on the Initial Rent Reset Commencement Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 4 contracts
Sources: Lease (Dyne Therapeutics, Inc.), Lease (Dyne Therapeutics, Inc.), Lease (Dyne Therapeutics, Inc.)
Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (i1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord, during the Term, Landlord an annual rent amount administrative fee of $250.00 and attorneys fees of $250.00 (the “Base Rent”), exclusive total of $500.00) together with any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without sums due as an essential part of the cure of default. If the Term hereof commences on any abatement, deductions, reduction or set-off whatsoever, on day other than the first day or expires on any day other than the last day of each calendar the month, Rent for the fraction of a month throughout at the commencement and at the end of the Term and shall be adjusted pro rata for any partial month during the Term. The Base Rent as on a per diem basis, and all succeeding installments of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning paid on the first (1st) anniversary day of the Initial Rent Reset Date and on each anniversary thereafter month during the Term term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of this Leasedefault, and Tenant must cover said check with certified funds plus the then-current Base Rent will increase penalty contained herein. Landlord may also seek additional relief as provided by an amount equal to the CPI Rent Adjustment Amountlaw.
(iv) As used herein:
Appears in 3 contracts
Sources: Commercial Lease Addendum (Integral Systems Inc /Md/), Lease Agreement (Integral Systems Inc /Md/), Lease Agreement (Integral Systems Inc /Md/)
Base Rent. (ia) Tenant shall pay to LandlordLandlord in United States dollars at the address for Landlord specified in the first paragraph of this Lease, during the TermTerm of this Lease the Base Rent as set forth in Section 1, an annual rent amount except as otherwise set forth below. The Base Rent shall commence to accrue on the Commencement Date; however, no Base Rent shall be payable until the Rent Commencement Date. On the Rent Commencement Date, Tenant shall pay all Base Rent that has accrued from the Commencement Date (the “i.e. six (6) months of Base Rent”Rent payments). Thereafter, exclusive Tenant shall pay Base Rent monthly in accordance with this Article 4. All payments of any other charge to Base Rent shall be paid by Tenant, payable made without notice in equal, consecutive equal monthly installments, installments in advance, without any abatement, deductions, reduction or set-off whatsoever, advance on the first day of each calendar and every month throughout of the Term and pro rata hereof, commencing on the Rent Commencement Date. If the Rent Commencement Date falls on a date other than the first calendar day of a month, or the Termination Date falls on a date other than the last calendar day of a month, then the Base Rent due for any such partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (prorated based upon the “Initial Base Rent”)actual number of days falling within said month.
(iib) Following the Commencement Date, the Initial Base Rent shall be reset Commencing as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each fifth anniversary of the Commencement Date and on the first day of the month of each successive five (5) year period thereafter, there will be an adjustment (hereinafter referred to as the “Base Rent Adjustment”) in each component of Base Rent other than Turnover Rent calculated by adding to such component of Base Rent in effect during the immediately preceding Year the product of: (i) such component of Base Rent multiplied by (ii) the positive percentage increase in the Consumer Price Index between Year 1 of such immediately preceding 5 Year period and Year 5 of such immediately preceding 5 Year period, with, provided that such Base Rent shall never be less than the Base Rent for the avoidance immediately preceding Year. The following example is included for illustration purposes regarding the calculation of doubt, each such CPI the Base Rent Adjustment: if the Base Rent in effect prior to the Base Rent Adjustment Amount compounded over is $30,000 per month and the prior lease years. For positive percentage increase in the avoidance Consumer Price Index between Year 1 and Year 5 of doubtthe preceding 5 Year period is 5%, the Initial Base Rent shall be fixed and without adjustment until it is reset on adjusted as follows: $30,000 plus ($30,000 multiplied by 5% which equals $1500), such that the Initial adjusted Base Rent Reset Date, in accordance with shall be $31,500 for the terms of this Section 3(a)(ii)next 5 Year period.
(iiic) Beginning on The “Consumer Price Index” shall be the first (1st) anniversary Index for All Urban Consumers, U. S. Cities Average published by the Bureau of Labor Statistics of the Initial Rent Reset Date U.S. Department of Labor. If the Consumer Price Index shall cease to be published, there shall be substituted therefor a price index published by the Bureau of Labor Statistics, or its successor government agency, which is intended to be representative of substantially similar changes in the cost of living as mutually agreed upon by Landlord and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment AmountTenant.
(ivd) As used herein:, “Turnover Rent” shall mean one and one half percent (1.5%) of all gross monthly sales defined as all sales of cannabis, cannabis-infused products and non-cannabis products sold by Tenant, any assignee of Tenant or any subtenants of the Premises. All sales as referenced in the preceding sentence shall include, without limitation, sales tracked through state approved tracking software and include sales to patients via the dispensary or delivery or, via wholesale transactions with a licensed Registered Marijuana Dispensary or other legal transactions permitted under Massachusetts law. Tenant hereby represents and warrants to Landlord that Tenant shall include provisions requiring subtenants of the Premises to pay Turnover Rent in all subleases entered into by Tenant with respect to the Premises. Landlord shall have the right to request confirmation of such representation from time to time. If Turnover Rent is payable as Base Rent, Tenant shall pay such Turnover Rent one month in arrears not later than ten (10) days following the end of the month for which Turnover Rent is payable. Tenant shall require monthly accounting of gross sales from all subtenants so that Tenant can determine the amount of Turnover Rent that shall be owed each month, and Tenant shall provide copies of such monthly accounting records to Landlord when Tenant pays Turnover Rent. Landlord shall have the right to audit Tenant’s records with respect to the monthly gross sales of its subtenants for the purpose of confirming the Turnover Rent paid not more than once per year.
Appears in 3 contracts
Sources: Share Purchase Agreement (AmeriCann, Inc.), Share Purchase Agreement (AmeriCann, Inc.), Share Purchase Agreement (AmeriCann, Inc.)
Base Rent. (i) Tenant Lessee shall pay to Landlord, during the Term, an annual rent amount Lessor a minimum monthly rental (the “Base Rent”), exclusive in arrears, calculated as follows. Beginning with calendar month immediately following the earlier of any (i) one hundred eighty (180) days following the Effective Date, or (ii) the date that Lessee enters into a credit facility, or receives other charge debt or equity financing, to be paid by Tenantprovide substantial funding for the construction of the Plant, payable in equalthen, for such month and the succeeding twenty three (23) consecutive monthly installmentscalendar months thereafter, in advanceLessee shall pay the Base Rent of Forty One Thousand Six Hundred Sixty Seven Dollars ($41,667.00) per month; and, without any abatement, deductions, reduction or set-off whatsoever, on the first day of for each calendar month throughout thereafter for so long as this Lease remains in effect, the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be Eighty Three Thousand Three Hundred Thirty Three Dollars ($ $83,333.00) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial per month. Payments of Base Rent shall be reset as of paid on or before the earlier of twentieth (A20th) the first day of the next succeeding calendar month that immediately follows following the month in for which Stabilization (as defined below) such Base Rent is accrued. Lessee shall provide written notice to Lessor within three days following the occurrence of the condition in clause (ii) above. In the event Lessee pays Base Throughput Payments or Supplemental Throughput Payments pursuant to Section 3.02(a) or (b) below for coal transported, processed, loaded or shipped over, through or on the Surface Property occurs in such calendar month sufficient to equal the minimum monthly rental, no minimum monthly rental shall be due with respect to such month. If Lessee does not transport, process, load or ship sufficient coal during such calendar month to pay Base Throughput Payments or Supplemental Throughput Payments equal to the monthly Base Rent, then Lessee shall pay the difference between the Base Rent for such month and (B) [Insert Fixed Date] (such earlier dateBase Throughput Payments and Supplemental Throughput Payments, if any, paid for coal transported, processed, loaded or shipped over, through or on the Surface Property during such month. Base Rent payments in excess of such Base Throughput Payments and Supplemental Throughput Payments in any calendar month shall be fully recoupable by Lessee by crediting the same against such Base Throughput Payments and Supplemental Throughput Payments thereafter due to Lessor, if any, until fully recouped by Lessee. Lessor shall not be required to refund any unrecouped Base Rent paid by Lessee and not recouped from Base Throughput Payments or Supplemental Throughput Payments pursuant hereto. Notwithstanding the foregoing, the “Initial Rent Reset Date”), as follows: The Initial first Fifty Thousand Dollars ($50,000.00) in Base Rent shall not be reset recoupable and shall be paid to an amount equal Lessor without crediting Base Throughput Payment or Supplemental Throughput Payment against the same. Simultaneously herewith, Lessor and Lessee have entered into that certain Mutual Cooperation Agreement of even date herewith, a copy of which is attached hereto as Exhibit D and incorporated herein by reference (the “Cooperation Agreement”). In the event Lessee leases or subleases additional property from Lessor pursuant to the sum exercise of (1) rights under the Initial Base Rent Cooperation Agreement or otherwise, Lessor and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had Lessee shall adjust the Base Rent been increased annually by an amount equal to reflect the CPI Rent Adjustment Amount on each anniversary addition of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, coal reserves in accordance with the terms provisions of the Cooperation Agreement. In no event shall the Base Rent be less than the Base Rent established in the first paragraph of this Section 3(a)(ii)3.01.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 3 contracts
Sources: Surface Rights Lease, Surface Rights Lease (Ramaco Resources, Inc.), Surface Rights Lease (Ramaco Resources, Inc.)
Base Rent. Commencing upon the Ground Lease Commencement Date and continuing through the earlier of (i1) eighteen (18) months following the Ground Lease Commencement Date or (2) the date the Tenant shall pay provides written notice to Landlord, during the Term, an annual rent amount Landlord that Tenant has completed its environmental site preparation work (the “Base RentRent Adjustment Date”), exclusive of any other charge to be paid by Tenantthe base rent for the Site (“Base Rent”) shall BE [***] per annum, payable in equalequal installments of [***] per month and after the Base Rent Adjustment Date shall thereafter be [***] per annum, consecutive monthly installmentspayable in equal installments of [***] per month, in advance, without any abatement, deductions, reduction or set-off whatsoever, adjusted upward five years after the date on which the first day of each calendar month throughout Base Rent increases to [***] per annum and every five (5) years thereafter during the Term and pro rata for by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization Adjustment Period (as defined below) of greater than [***]. The period from the Property occurs Base Rent Adjustment Date through the date five years thereafter, and each five (B5) [Insert Fixed year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any payment under this Ground Lease shall hereinafter be referred to as a “CPI Adjustment.” Except for the first payment of Base Rent hereunder on the Ground Lease Commencement Date] , Base Rent will be due each month on the 1st day of the month and shall be payable by the 15th day of that month; provided, however, that: (such earlier date, i) the “Initial Rent Reset Date”), as follows: The Initial first payment of Base Rent shall be reset to an amount equal to due ten (10) days following the sum of (1) Ground Lease Commencement Date and, if the Initial Base Rent and (2) Ground Lease Commencement Date is a date other than the aggregate sum first day of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubtmonth, the Initial first payment of Base Rent shall be fixed in a prorated amount for the period of time between the Ground Lease Commencement Date and without adjustment until it is reset on the Initial next following first day of the month; and (ii) the first payment of Base Rent Reset Datedue upon the commencement of any new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period in order to permit the Tenant to calculate the CPI Percentage Increase, in accordance with the terms of this Section 3(a)(ii).
as set forth below and (iii) Beginning on the last payment of Base Rent shall be in a prorated amount for the period of time between the immediately preceding first (1st) anniversary day of the Initial Rent Reset Date month and on each anniversary thereafter during the Term last day of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment AmountTerm.
(iv) As used herein:
Appears in 2 contracts
Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)
Base Rent. Commencing on the applicable Lease Commencement Date (i) as the same may be delayed by the express provisions of this Lease), as set forth in Section 3.2 of the Summary, Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or by wire transfer to the Termaddress set forth in Section 11 of the Summary, an annual or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check or wire transfer for currency, which, at the time of payment, is legal tender for private or public debts in the United States of America, the applicable base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever except as expressly set forth elsewhere in this Lease. The Concurrently with Tenant’s execution of this Lease, Tenant shall provide Landlord with $1,860,000.00 as payment for the Base Rent as for the minimum size of the Commencement Date Phase I Premises for the first full month of the Lease Term, which amount shall be adjusted to the actual amount of the Base Rent for the Phase I Premises for the first full month of the Lease Term concurrently with Tenant’s delivery of the Phase Designation Notice. If any Rent payment date ($ ) (the “Initial Base Rent”).
(ii) Following the including any Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease Agreement (Dropbox, Inc.), Lease Agreement (Dropbox, Inc.)
Base Rent. Base Rent for the first full month immediately following the expiration of the Abatement Period (ias defined below) and the Security Deposit shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any demand, abatement, deductions, reduction deduction or set-off whatsoeveroff, equal monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata hereof after the Rent Commencement Date, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to wire instructions provided by Landlord. Payments of Base Rent for any partial fractional calendar month during the Termshall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained in the Lease, so long as Tenant is not in Default (as defined in Section 20) hereunder, Tenant shall not be required to pay Base Rent for the period of 330 consecutive days immediately following the Rent Commencement Date shall be ($ ) (the “Initial Base RentAbatement Period”).
. Tenant shall pay full Base Rent (iias adjusted pursuant to Section 4 below) Following on the 331st day following the Rent Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.)
Base Rent. (ia) The first month’s Base Rent and Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any abatement, deductions, reduction monthly installments of Base Rent on or set-off whatsoever, on before the first day of each calendar month throughout during the Term and pro rata hereof, in lawful money of the United States of America, at the office or address of Landlord for any partial month during payment of Rent set forth above. Notwithstanding the Term. The foregoing, Base Rent as of for the 6-month period commencing on the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Dateadjusted to be $18,390.67 per month for such 6-month period, the Initial provided that Tenant is not in Default hereunder, and after such 6-month period Base Rent shall be reset at the rate stated above in the Basic Lease Provisions, subject to adjustment each year on the Adjustment Date as provided below. Payments of Base Rent for any fractional calendar month shall be prorated. If the earlier Rent Commencement Date is other than the first day of (A) a calendar month, the difference between the first full calendar month’s Base Rent paid pursuant to the first sentence of this Section 3(a), and the prorated Base Rent for the fractional month in which the Rent Commencement Date occurs, shall be applied by Landlord to the first full calendar month after the Rent Commencement Date. Except as expressly provided in Section 2 above or Section 15 below, Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent due hereunder. Base Rent shall be increased on each anniversary of the first day of the first full month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, Lease (each an “Adjustment Date”) by multiplying the then-current Base Rent will increase payable immediately before such Adjustment Date by an the Rent Adjustment Percentage and adding the resulting amount equal to the CPI Base Rent payable immediately before such Adjustment AmountDate. Base Rent, as so adjusted, shall thereafter be due as otherwise provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.
(ivb) As used herein:In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of Project Operating Expenses and Tenant’s Percentage Share (Science Facility) of Science Facility Operating Expenses (each as defined in Section 4), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period. Tenant’s obligation to pay Base Rent and Additional Rent hereunder are collectively referred to herein as “Rent”.
Appears in 2 contracts
Sources: Lease Agreement (Eleven Biotherapeutics, Inc.), Lease Agreement (Eleven Biotherapeutics, Inc.)
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the address set forth in Section 4.2 of the Summary, during or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. If there is a delay in Landlord’s delivery of possession of the Premises to Tenant which causes the Lease Commencement Date to be delayed, as provided for in Section 2.1 of the Lease, then Rent Commencement Date shall be ($ ) (moved to the “Initial Base Rent”).
(ii) Following the revised Lease Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease Agreement (Biomarin Pharmaceutical Inc), Lease Agreement (Biomarin Pharmaceutical Inc)
Base Rent. Base Rent for the month in which the Rent Commencement Date occurs (ior, if the Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the Rent Commencement Date) and the Security Deposit shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. For the avoidance of doubt, Tenant shall not be required to pay Base Rent for the period commencing on the Commencement Date through the day immediately preceding the Rent Commencement Date. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any demand, abatement, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata for any partial month during hereof after the Term. The Base Rent as Commencement Date, in lawful money of the Commencement Date shall be United States of America, at Tenant’s election either ($ i) (at the “Initial Base Rent”).
office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or (ii) Following via federally insured wire transfer (including ACH) pursuant to the Commencement Date, the Initial wire instructions provided by Landlord. Payments of Base Rent for any fractional calendar month shall be reset prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as of defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the earlier of contrary contained in this Lease, so long as Tenant is not then in Default (Aas defined in Section 20) under this Lease, Tenant shall not be required to pay Base Rent with respect to the Premises for the period commencing on the first day of the 2nd full calendar month that immediately follows following the month in which Stabilization (as defined below) Rent Commencement Date through the last day of the Property occurs and 7th full calendar month immediately following the Rent Commencement (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset DateAbatement Period”), as follows: The Initial . Tenant shall resume paying Base Rent shall be reset to an amount equal with respect to the sum of (1) entire Premises on the Initial Base Rent and (2) day immediately following the aggregate sum expiration of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease yearsAbatement Period. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:Net Lease Net Lease 9877 ▇▇▇▇▇▇/Cue - Page 4
Appears in 2 contracts
Sources: Lease Agreement (Cue Health Inc.), Lease Agreement (Cue Health Inc.)
Base Rent. (i) Commencing on the Rent Commencement Date, Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equalequal monthly installments as set forth in Section 8 of the Summary in advance on or before the Rent Commencement Date and, consecutive monthly installmentsthereafter, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term. The , without any setoff or deduction whatsoever; such Base Rent as is subject to adjustment on each annual anniversary of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Lease Commencement Date. Within five (5) business days after the full execution and delivery of this Lease by Landlord and Tenant, Tenant shall deliver to Landlord an amount equal to $160,340.00, which amount is the Initial Base Rent shall be reset as payable by Tenant for the Premises for the sixth (6th) full month following the Rent Commencement Date. If any rental payment date (including the Lease Commencement Date) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(iiLease that require proration on a time basis shall be prorated on the same basis. Notwithstanding anything to the contrary contained herein and so long as Tenant is not then in default under this Lease (beyond the expiration of all applicable notice and cure periods).
, Landlord hereby agrees to ▇▇▇▇▇ ▇▇▇▇▇▇’s obligation to pay fifty percent (iii50%) Beginning on of Tenant’s monthly Base Rent for the first (1st), second (2nd), third (3rd), fourth (4th) anniversary and fifth (5th) full calendar months following the Rent Commencement Date (collectively, the “Abated Rent”). During such abatement period, Tenant shall still be responsible for the payment of the Initial Rent Reset Date and on each anniversary thereafter during the Term all of its other monetary obligations under this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease (Sionna Therapeutics, Inc.), Lease (Sionna Therapeutics, Inc.)
Base Rent. (i) The Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. The first full calendar month’s Base Rent shall be due and payable on October 1, 2017. Commencing on the Rent Commencement Date, Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any abatementdemand, deductionsabatement (except as expressly provided in Section 4(a) below), reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent for any partial fractional calendar month during shall be prorated. If the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Dateis ▇▇▇ ▇▇▇▇▇▇, the Initial Base Rent shall be reset as of the earlier of (A) ▇▇▇▇▇▇▇▇▇, MA/TCR2 Therapeutics Inc. - Page 6 other than the first day of a calendar month, the month that immediately follows difference between the first full calendar month’s Base Rent paid on October 1, 2017 by Tenant to Landlord as required above, and the prorated Base Rent for the fractional month in which Stabilization the Rent Commencement Date occurs, shall be applied by Landlord to such first full calendar month after the Rent Commencement Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as defined belowin Section 5) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata due hereunder except for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall abatement as may be fixed and without adjustment until it is reset on the Initial Rent Reset Date, expressly provided in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease Agreement (Tcr2 Therapeutics Inc.), Lease Agreement (Tcr2 Therapeutics Inc.)
Base Rent. (ia) Tenant shall continue to pay monthly installments of Base Rent (plus all other sums due under the Lease) with respect to Landlordthe Current Premises, during as set forth in the TermLease, an annual rent amount through the Relocation Date. Provided that Tenant has timely vacated and surrendered to Landlord the Current Premises in the condition required by the Lease on or before five (5) days following the “Relocation Date, Tenant shall be released from any and all obligations with respect to the Current Premises accruing after the Relocation Date.
(b) Commencing on the Relocation Date, Tenant shall commence payment of Base Rent”)Rent with respect to the New Premises at the rate of $38.00 per rentable square foot of the New Premises, exclusive i.e. approximately $199,386.00 per annum, plus applicable sales tax. The Base Rent per rentable square foot for each subsequent twelve (12)-month period shall be 103% of any the Base Rent per rentable square foot for the prior twelve (12)-month period, commencing the first (1st) day of the thirteenth (13th) month following the Relocation Date. If the Relocation Date should be a date other charge to than the first day of a calendar month, then the first installment of Base Rent for the New Premises shall be paid prorated by Tenantmultiplying the regular monthly installment of Base Rent for the New Premises by a fraction, the numerator of which is the number of days from the Relocation Date through the final day of the calendar month in which the Relocation Date occurs and the denominator of which is the total number of days in the calendar month in which the Relocation Date occurs.
(c) Base Rent for the Premises shall be payable by Tenant monthly in equal, consecutive equal monthly installmentsinstallments as set forth above, in advance, without any abatement, deductions, reduction together with applicable sales or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Dateuse tax, in accordance with the terms and conditions of this Section 3(a)(ii)the Lease, without deduction or set-off, except to the extent, if any, expressly provided under the Lease, and shall be in addition to all other sums due under the Lease.
(iiid) Beginning on Notwithstanding anything to the contrary contained herein, Base Rent for the New Premises shall be abated for the first five (1st5) anniversary full calendar months after the Relocation Date (such abated Base Rent for the New Premises being referred to herein as the “Abated Rent”), provided, however, (i) Tenant’s credit for the Abated Rent may be rescinded and reversed upon the expiration of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this the Lease if any event of default by Tenant under the Lease has occurred and remains uncured on the expiration of the Term of the Lease, whereupon Tenant shall be obligated to pay Abated Rent within three (3) Business Days following Landlord’s written notice of demand, and (ii) Tenant’s occupancy of the then-current New Premises shall be subject to all of the provisions of the Lease during the period of Abated Rent, except for the obligation to pay Base Rent will increase by an amount equal for the New Premises. If the Relocation Date should be a date other than the first day of a calendar month, then the Abated Rent shall apply to the CPI first five (5) full calendar months after the month in which the Relocation Date occurs, and Tenant shall be obligated to pay Base Rent Adjustment Amountfor the partial month in which the Relocation Date occurs within three (3) Business Days following the Relocation Date.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease (Catalyst Pharmaceuticals, Inc.), Lease (Catalyst Pharmaceutical Partners, Inc.)
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the address set forth in Section 4.2 of the Summary, during or, at Landlord’s option, at such other place as Landlord may from time to time designate by delivering written notice to Tenant at Tenant’s notice address as set forth herein, by a check or wire transfer for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term shall be paid at the time of ▇▇▇▇▇▇’s execution of this Lease. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of same basis. Notwithstanding anything to the Initial Rent Reset Date and on each anniversary thereafter during the Term of contrary in this Lease, Tenant may at its election pay any Rent to Landlord by electronic transfer and Landlord shall provide Tenant with ACH information upon request from Tenant. Notwithstanding the then-current foregoing or anything to the contrary herein, provided Tenant is not then in default under this Lease (beyond the expiration of any applicable notice and cure period), Tenant shall not be obligated to pay fifty percent (50%) of the Base Rent will increase by an amount equal and fifty percent (50%) of Tenant’s Share of Direct Expenses due under this Lease during months one (1) through twelve (12) of the initial Lease Term; provided, however, Tenant shall be obligated upon the Lease Commencement Date, and for all periods thereafter, to the CPI pay all other Additional Rent Adjustment Amountpayable under this Lease including, without limitation, parking charges.
(iv) As used herein:
Appears in 2 contracts
Sources: Office Lease (Artiva Biotherapeutics, Inc.), Office Lease (Artiva Biotherapeutics, Inc.)
Base Rent. (ia) The “Rent Commencement Date” shall mean, respectively, (x) for the Office Portion (other than the Expansion Space), the date that is six months after the Commencement Date for the Office Portion, (y) for the Lab Portion, the date that is five months after the Commencement Date for the Lab Portion, and (z) for the Expansion Space, the date that is eighteen (18) months after the Commencement Date for the Office Portion. Beginning on the Rent Commencement Date for the applicable Portion and/or Expansion Space, and on the first day of each month thereafter, the Tenant shall pay to Landlord, during the Term, an annual Landlord base rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable ) in equal, consecutive equal monthly installments, in advance, without pursuant to the following schedule: From the Rent Commencement Date through the last day of the 42nd calendar month after the initial Commencement Date. $ 2,887,225.00 $ 25.00 $ 240,602.08 From the first day of the 43rd calendar month after the Commencement Date through the last day of the 78th calendar month after the initial Commencement Date $ 3,118,203.00 $ 27.00 $ 259,850.25 From the first day of the 79th calendar month after the initial Commencement Date through the expiration of the term of this Lease $ 3,383,827.70 $ 29.30 $ 281,985.64 * In the event that the Office Portion (other than the Expansion Space), Lab Portion, and Expansion Space Rent Commencement Dates do not occur on the same day, the Annual Base Rent and Monthly Base Rent shall be apportioned among such areas based on rentable square feet. If any abatementRent Commencement Date is other than the first day of the month, deductionsthen, reduction or setwith respect to the partial month following such Rent Commencement Date, Tenant shall pay to Landlord on the applicable Rent Commencement Date a pro-off whatsoever, rated share of the Base Rent that would have otherwise been payable for such month (based on the number of days remaining in such month) had such Rent Commencement Date occurred on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rentsuch month.”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 2 contracts
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the address set forth in Section 4.2 of the Summary, during or, at Landlord’s option, at such other place as Landlord may from time to time designate by delivering written notice to Tenant at Tenant’s notice address as set forth herein, by a check or wire transfer for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of same basis. Notwithstanding anything to the Initial Rent Reset Date and on each anniversary thereafter during the Term of contrary in this Lease, Tenant may at its election pay any Rent to Landlord by electronic transfer and Landlord shall provide Tenant with ACH information upon request from Tenant. Notwithstanding the then-current foregoing or anything to the contrary herein, provided Tenant is not then in default under this Lease (beyond the expiration of any applicable notice and cure period), Tenant shall not be obligated to pay fifty percent (50%) of the Base Rent will increase by an amount equal and fifty percent (50%) of Tenant’s Share of Direct Expenses due under this Lease during months one (1) through twelve (12) of the initial Lease Term; provided, however, Tenant shall be obligated upon the Lease Commencement Date, and for all periods thereafter, to the CPI pay all other Additional Rent Adjustment Amountpayable under this Lease including, without limitation, parking charges.
(iv) As used herein:
Appears in 2 contracts
Sources: Office Lease (Artiva Biotherapeutics, Inc.), Office Lease (Artiva Biotherapeutics, Inc.)
Base Rent. (i) Tenant From and after the Initial Premises Commencement Date, during each month of the Term of this Sublease, Subtenant shall pay to Landlord, during as base rent for the Term, an annual rent amount Premises (the “Base Rent”) as follows: 61 - 72 115,466 $5.88 $678,830.07 *Provided that Subtenant is not in default beyond applicable notice and cure periods of the terms and conditions of this Sublease, Sublandlord agrees to ▇▇▇▇▇ the obligation of Subtenant to pay Base Rent for months 7-18 of the Term (the “Conditional Rent”). Notwithstanding the foregoing, exclusive however, during such abatement period, Subtenant shall be responsible for the payment of all Additional Rent allocable to the Premises then subleased hereunder. In the event of a default by Subtenant beyond any other charge applicable notice and cure periods and the expiration or earlier termination of this Sublease, Sublandlord shall be entitled to recover the unamortized portion of the Conditional Rent (i.e., the unamortized portion of the Conditional Rent shall be deemed not to have been abated, and shall become immediately due and payable as unpaid Rent earned, but due at the time of such default). *The above chart assumes that the Expansion Premises Commencement Date occurs on the first day of the twenty-fifth (25th) month of the Term of this Sublease. If the Expansion Premises Commencement Date occurs on an earlier or later date, the above chart shall be deemed adjusted to provide for Subtenant to pay Base Rent on the increased square footage commencing on the Expansion Premises Commencement Date only. Base Rent and Additional Rent shall be paid by Tenantto Sublandlord without demand, payable in equaldeduction, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoeveror counterclaim, in advance on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this LeaseSublease, and in the then-current event of a partial rental month, Base Rent will increase by an amount equal and Additional Rent shall be prorated on the basis of a 365-day year. If Base Rent or Additional Rent abates under the Master Lease as to a portion of the CPI Premises as to which this Sublease has commenced, Base Rent Adjustment Amountor Additional Rent, as the case may be, shall ▇▇▇▇▇ on a pro-rata basis under this Sublease. If Sublandlord does not deliver the Lab Space to Subtenant in the required condition on or before December 31, 2020, Subtenant shall be entitled to a day-for-day credit in its Base Rent and Additional Rent obligations (calculated on a pro-rata rentable square foot basis) for the period commencing on January 1, 2021 and ending on the date on which Sublandlord delivers the Lab Space to Subtenant in the required condition.
(iv) As used herein:
Appears in 2 contracts
Sources: Sublease (Sutro Biopharma, Inc.), Sublease (Five Prime Therapeutics, Inc.)
Base Rent. Commencing on the date set forth in Section 3.2 of the Summary (ithe “Lease Commencement Date”) (as the same may be delayed by the express provisions of this Lease), Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or, by wire transfer to the Termaddress set forth in Section 11 of the Summary, an annual or at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check or wire transfer for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever except as expressly set forth elsewhere in this Lease. The Base Rent as for the first full month of the Commencement Date Lease Term which occurs after the expiration of any free rent period shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 2 contracts
Sources: Office Lease (Dropbox, Inc.), Office Lease (Dropbox, Inc.)
Base Rent. (i) 3.1. Tenant shall pay pay, without prior notice, demand, setoff or deduction, to Landlord or Landlord’s agent at the address set forth in Section 10 of the Summary, during or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 9 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advanceSection 9 of the Summary in advance on or before the first (1st) day of each and every calendar month during the Lease Term, without any abatement, deductionssetoff or deduction whatsoever. In accordance with Section 29.25, reduction this Article 3 shall be construed as though the covenants herein between Landlord and Tenant are independent and Tenant shall not be entitled to any setoff of the Rent or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial month during the Termother amounts owing to Landlord under this Article 3. The Base Rent as for the first full month of the Commencement Date shall be ($ ) Lease Term which occurs after the expiration of any free rent period (the “Initial Base Rent”) shall be paid on or before November 10, 2008 (the “Initial Base Rent Payment Date”).
(ii. Notwithstanding anything to the contrary contained in this Lease, including without limitation, Section 19.1(a) Following the Commencement Datebelow, Tenant’s failure to pay the Initial Base Rent on or before the Initial Base Rent Payment Date shall be reset as constitute a Default of Tenant without need for additional notice and opportunity to cure and interest shall accrue on any late payment of Initial Base Rent at the Default Rate without regard to any grace period provided under Section 25 below. If any Rent payment date (including the Commencement Date) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall be calculated on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/30th of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable monthly Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 2 contracts
Sources: Office Lease (Xenith Bankshares, Inc.), Office Lease (Xenith Bankshares, Inc.)
Base Rent. (i) Base Rent in the amount of $42,750 and the Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any demand, abatement, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent for any partial fractional calendar month during the Termshall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained in this Lease, Tenant shall be required to pay Base Rent in the per square foot amounts set forth in page 1 (i) with respect to only 15,000 rentable square feet of the Premises commencing on the Commencement Date shall be ($ ) (and continuing through the “Initial expiration of the 18th month of the Base Rent”).
Term, and (ii) Following the Commencement Date, the Initial Base Rent shall be reset as with respect to only 19,000 rentable square feet of the earlier of (A) Premises commencing on the first day of the 19th month of the Base Term and continuing through the expiration of the 24th month of the Base Term. Tenant shall commence paying Base Rent with respect to the entire Premises on the first day of the 25th month of the Base Term. Notwithstanding anything to the contrary contained herein, so long as no monetary default by Tenant beyond applicable notice and cure periods is occurring as of the expiration of the term of that immediately follows the month in which Stabilization certain Lease Agreement between Tenant and ▇▇▇-▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, LLC, a Delaware limited liability, dated July 31, 2009 (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier datesame may have been or may in the future be amended, the “Initial Rent Reset DateOther Lease”), as follows: The Initial Base Landlord shall provide Tenant with a credit in the amount of $221,336 (“Rent shall be reset to an amount equal to the sum of (1Credit”) the Initial toward Base Rent and Operating Expenses for the Premises first coming due during the Base Term. Tenant shall commence paying Base Rent and Operating Expenses for the Premises upon the earlier of (2i) the aggregate sum exhaustion of the CPI Rent Adjustment Amount Credit, or (ii) immediately following delivery of written notice from Landlord providing that a monetary default by Tenant beyond applicable notice and cure periods is occurring as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary expiration of the Initial Rent Reset Date and on each anniversary thereafter during term of the Term of this Other Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 2 contracts
Sources: Lease Agreement (Fate Therapeutics Inc), Lease Agreement (Fate Therapeutics Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever, except as otherwise expressly provided in this Lease. The Base Rent as for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. If, at any time, Tenant is in default of any monetary or other material term, condition or provision of this Lease (beyond applicable notice and grace periods) that results in a termination of the Lease as provided in Section 19.2 below, then to the fullest extent permitted by law, any express or implicit waiver by Landlord of Tenant’s requirement to pay Base Rent during any period of time from and after the Lease Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial null and void and Tenant shall immediately pay to Landlord all Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually so expressly or implicitly waived by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)Landlord.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Serena Software Inc)
Base Rent. As base rent for the lease of the Premises, Tenant hereby agrees to pay, without claim, deductions or setoffs for the Term of the Lease base rent. (i) Tenant shall pay to Landlord, during the Term, an annual rent amount (the “"Base Rent”), exclusive of any other charge to ") as follows: PERIOD PSF ANNUAL EQUAL MONTHLY PAYMENT: ------ --- ------ ---------------------- Lease Year 1 6/1/94-5/31/95 $16.29 $20.786.04 $1.732.17 Lease Year 2 6/1/95-5/31/96 $17.29 $22.062.04 $1.838.50 Lease Year 3 6/1/96 5/31/97 $18.29 $23.338.04 $l.944.84 Such Base Rent for each Lease Year shall be paid by Tenant, due and payable in equal, consecutive the equal monthly installmentsinstallments set forth above, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term, commencing on the 1ST day of JULY 1994. The Base Rent as All payments of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as paid to the Landlord in lawful money of the earlier United States of (A) America at the address of Landlord shown herein, or to such other party or at such other place as Landlord may designate from time to time in a written notice to Tenant. If the Term commences or terminates on any day other than the first or last day of a calendar month, the month that immediately follows the month in which Stabilization Base Rent and any other sums due hereunder shall be prorated for such fractional calendar month. All past due installments of Base Rent and Additional Rent (as defined below) shall bear interest at the rate of twelve percent (12%) per annum from the date due until paid. Anything herein to the contrary notwithstanding, in no event shall the Base Rent provided herein ever be reduced. A "Lease Year" shall be the twelve month period commencing with the Commencement Date of this Lease, and ending one year later, and each following twelve-month period. If at the expiration of any twelve month period during the Term the Term has not expired and there remains less than twelve months prior to the expiration of the Property occurs and (B) [Insert Fixed Date] (such earlier dateTerm, the “Initial Rent Reset Date”), as follows: The Initial final period during the Term shall be treated like a Lease Year and Base Rent shall be reset to an amount equal to adjusted accordingly. Notwithstanding the sum of (1) the Initial foregoing, no Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Additional Rent shall be fixed payable by Tenant for the first two months of the Term (July and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(iiAugust 1994).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (ia) Tenant Commencing on the Rent Commencement Date, Subtenant shall pay to Landlord, during the Term, an Sublandlord base annual rent amount rental (the hereinafter called “Base Minimum Rent”), exclusive of any other charge to ) for the Premises as follows: 1st Lease Year $ 20.64 $ 857,612.64 $ 71,467.72 2nd Lease Year $ 21.26 $ 883,374.26 $ 73,614.52 3rd Lease Year $ 21.90 $ 909,966.90 $ 75,830.58 4th Lease Year $ 22.55 $ 936,975.05 $ 78,081.25 5th Lease Year $ 23.23 $ 965,229.73 $ 80,435.81 Annual Minimum Rent shall be paid by Tenant, due and payable in equal, consecutive monthly twelve equal installments, . Each such installment shall be due and payable in advance, without any abatement, deductions, reduction or set-off whatsoever, advance on the fifth day prior to the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (term hereof. If the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as term of the earlier of (A) this Sublease commences on a day other than the first day of a month or ends on a day other than the last day of a month, Minimum Rent for such month that immediately follows the shall be prorated; prorated Minimum Rent for any such partial first month in which Stabilization (as defined below) of the Property occurs term hereof shall be paid on the date on which the term commences. Notwithstanding anything in this Sublease to the contrary, Subtenant shall pay to Sublandlord the first monthly installment of Minimum Rent due under this Sublease upon the execution and delivery of this Sublease by Subtenant to Sublandlord.
(Bb) [Insert Fixed Date] All Minimum Rent and additional rent shall be paid without setoff or deduction whatsoever and shall be paid to Sublandlord at its office at the following address: Real Estate Administration, Gateway, Inc., 6▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ or at such other place as Sublandlord may designate by notice to Subtenant.
(c) Sublandlord and Subtenant acknowledge and agree that so long as Subtenant is not then in default under this Sublease, Subtenant shall be entitled to an abatement of the Minimum Rent due and owing under this Sublease for the first sixty (60) days of the term of this Sublease following the Commencement Date (the expiration of such earlier date, sixty (60) day period is hereinafter referred to as the “Initial Rent Reset Commencement Date”); provided, as follows: The Initial Base Rent however, during such abatement period, Subtenant shall be reset remain responsible to an amount equal pay under this Sublease any and all amounts due and owing for additional rent due hereunder (including all pass-throughs from the Prime Lease) and all utilities provided to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)Premises.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Sublease (Costar Group Inc)
Base Rent. Commencing on the date (ithe ''Rent Commencement Date'') which is three (3) months following the Lease Commencement Date, Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord's agent at the management office of the Project, during or, at Landlord's option, at such other place as Landlord may from time to time designate in writing, by a check (drawn on a bank having a branch office in Los Angeles, California) for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “''Base Rent”), exclusive '') as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in Section 4 of the Summary in advance, without any abatement, deductions, reduction on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, commencing on the Rent Commencement Date, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term which occurs after the expiration of any free rent period shall be paid at the time of Tenant's execution of this Lease. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Rent Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Terrn at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary same basis. 2. Initial Three Month Period. Tenant may occupy the Premises for the conduct of business after the Lease Commencement Date and prior to the Rent Commencement Date, and all of the Initial Rent Reset Date provisions oftl1is Lease shall be in full force and on each anniversary thereafter during the Term of this Leaseeffect upon such occupancy, the then-current except that no Base Rent will increase by an amount equal or additional rent for Direct Expenses pursuant to Article 4 shall be payable for the Premises for the period prior to the CPI Rent Adjustment AmountCommencement Date; provided, however, that Tenant shall pay any parking charges due hereunder for parking for such Premises and other sundry expenses due and payable hereunder as of the date that Tenant occupies the Premises, or any portion thereof, for the conduct of business. 4. Additional Rent.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay to Landlord, during the Term, Landlord an annual rent amount (the “"Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on ") as follows:
(a) If either (i) the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of Studio A Delivery Date is the Commencement Date shall be ($ ) (the “Initial Base Rent”).
or (ii) Following as a result of Tenant's or Directrix' use or occupancy of Studio A (but no other portion of the Premises) for the conduct of business prior to Studio A being in operational condition, the First Possession Date is the Commencement Date, then, for the Initial Base Rent shall be reset as of period commencing thirty (30) days after the earlier of (A) Commencement Date and ending upon the first last day of the month that immediately follows the month in which Stabilization Office Abatement Period (as defined below), Tenant shall pay to Landlord Base Rent with respect to Studio A in the amount of $39,047.63 per month, payable in advance.
(b) Commencing on the earlier to occur of (i) the Substantial Completion Date and (ii) the date on which Tenant or Directrix commences to occupy any portion of the Property occurs Premises (other than Studio A and (Bthe Master Control Room, as defined below) [Insert Fixed Date] for the conduct of business (such earlier date, date being the “Initial "Premises Base Rent Reset Commencement Date”"), Tenant shall pay Base Rent with respect to the Premises (including Studio A) as follows: The Initial Base Rent shall be reset to an amount equal to the sum of :
(1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter definedi) for each lease year that would have been calculated during the period beginning on the Premises Base Rent Commencement Date and ending on the Initial Rent Reset day preceding the first anniversary of the Substantial Completion Date (including pro rata such period being the first "Lease Year" and each successive twelve month period thereafter also being referred to herein individually as a "Lease Year" and collectively as "Lease Years", i.e., the second Lease Year shall commence on the first anniversary of the Substantial Completion Date, the third Lease Year shall commence on the second anniversary of the Substantial Completion Date, etc.), $2,070,249.41 per annum, payable in advance in equal monthly installments of $172,520.78;
(ii) for any partial lease year during such periodthe second Lease Year, $2,132,356.89 per annum, payable in advance in equal monthly installments of $177,696.41;
(iii) had for the third Lease Year, $2,196,327.60 per annum, payable in advance in equal monthly installments of $183,027.30;
(iv) for the fourth Lease Year, $2,262,217.43 per annum, payable in advance in equal monthly installments $188,518.12;
(v) for the fifth Lease Year, $2,330,083.95 per annum, payable in advance in equal monthly installments of $194,173.66;
(vi) for the sixth Lease Year, $2,399,986.47 per annum, payable in advance in equal monthly installments of $199,998.87;
(vii) for the seventh Lease Year, $2,471,986.06 per annum, payable in advance in equal monthly installments of $205,998.84;
(viii) for the eighth Lease Year, $2,546,145.64 per annum, payable in advance in equal monthly installments of $212,178.80;
(ix) for the ninth Lease Year, $2,622,530.01 per annum, payable in advance in equal monthly installments of $218,544.17;
(x) for the tenth Lease Year, $2,701,205.91 per annum, payable in advance in equal monthly installments of $225,100.49; and
(xi) for the eleventh through fifteenth Lease Years, a rate per annum equal to $2,971,326.51 per annum, payable in advance in equal monthly installments of $247,610.54. Anything to the contrary provided for hereinabove notwithstanding, so long as no Event of Default shall then be outstanding, Tenant shall not be obligated to pay the Base Rent been increased annually by an amount equal provided for above in this Section 2.2(b) for that thirty (30) day period of time commencing on the Premises Base Rent Commencement Date (such 30 day period being the "Office Abatement Period"). Tenant shall, however, continue to be obligated during such Office Abatement Period to pay the Base Rent with respect to Studio A pursuant to paragraph 2.2 (a) above and with respect to the CPI Master Control Room pursuant to paragraph 2.2(c) below and any and all Additional Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, other charges payable by Tenant hereunder in accordance with the terms of this Lease during such period.
(c) In the event that Tenant commences to use or occupy that portion of the Premises described in the floor plan attached hereto as Exhibit F-1 (the "Master Control Room") for any purpose (including any work to be performed by Tenant or Directrix therein) prior to the Premises Base Rent Commencement Date (the date on which Tenant so commences to use or occupy the Master Control Room being the "Master Control Room Rent Start Date", which date may be no earlier than the Studio A Delivery Date), then for the period beginning thirty (30) days after the Master Control Room Rent Start Date and ending upon the last day of the Office Abatement Period, Tenant shall pay Base Rent with respect to the Master Control Room in an amount equal to $25,000 per month, payable in advance.
(i) If for any reason Studio A shall not be in operational condition, as determined in accordance with the provisions of Article 15, on or prior to February 15, 2002, then, as Tenant's sole and exclusive remedy therefor (but subject to Subsection 2.2(d)(iii) below), Tenant may procure (x) the right to use comparable substitute studio space for its use, and (y) the same services with respect to such substitute studio space as would be provided to Tenant with respect to Studio A pursuant to a certain proposed Master Services Agreement between Tenant and Directrix substantially in the form that was delivered to Landlord's attorneys by Directrix by email on September 15, 2001 (the "Service Agreement"). Provided that the charges for such use of such substitute space and for such services shall be commercially reasonable, Landlord shall, within fifteen (15) days after its receipt of reasonable evidence of such cost (but not more often than once in any thirty (30) day period), reimburse Tenant for (1) the excess cost, if any, for such use of the substitute space over the Rent that Tenant would have paid with respect to Studio A under this Lease for the same period had the Studio A Delivery Date occurred on February 15, 2002 and (2) the excess cost, if any, for such services for the substitute space over the cost that Tenant would incurred for such services had they been provided by Directrix pursuant to the Service Agreement with respect to Studio A for the same period had the Studio A Delivery Date occurred on February 15, 2002 (it being understood that Landlord's reimbursement obligations pursuant to this paragraph shall apply with respect to the period from and after February 15, 2002 through the Studio A Delivery Date only). Notwithstanding the foregoing, the February 15, 2002 date set forth above shall be postponed by one day for each day that Landlord is prevented from causing Studio A to be in operational condition by reason of Unavoidable Delay or Tenant Delay (as such terms are defined below). If for any reason Studio A shall not be in operational condition, as determined in accordance with the provisions of Article 15, on or prior to June 1, 2002, then, as Tenant's sole and exclusive remedy therefor (but subject to Subsection 2.2(d)(iii) below), Tenant may terminate this Lease upon written notice to Landlord ("Tenant's Notice"), which must be given after June 1, 2002 and received by Landlord on or before June 15, 2002, time being of the essence. If Tenant so elects to terminate this Lease, the same will be deemed cancelled and terminated upon Landlord's receipt of Tenant's Notice and neither party shall have any further liability to the other hereunder, except pursuant to those provisions of this Lease that expressly survive its expiration or sooner termination and except that Tenant shall surrender that portion of the Premises, if any, then occupied by Tenant on or before June 30, 2002, in vacant and broom clean condition with all of its personal property removed, as if such date were the Expiration Date, and Article 28 below shall apply in the event that Tenant fails to so surrender possession of the Premises. Notwithstanding the foregoing, if Landlord causes Studio A to be in operational condition prior to June 15, 2002, Tenant's Notice shall be null and void and of no force or effect and this Lease shall remain in full force and effect. All of the dates set forth above in this paragraph, however, shall be postponed by one day for each day that Landlord is prevented from causing Studio A to be in operational condition by reason of Unavoidable Delay or Tenant Delay.
(ii) If for any reason Landlord shall not have substantially completed, as determined in accordance with the provisions of Article 15, Landlord's Work on or prior to June 15, 2002, then, as Tenant's sole and exclusive remedy therefor (but subject to Subsection 2.2(d)(iii) below), notwithstanding anything to the contrary contained in Section 3(a)(ii2.4 below, the Office Abatement Period shall be extended by one (1) day for each day after June 15, 2002 through December 31, 2002 that Landlord's Work is not so substantially completed; provided, however, that the foregoing dates shall be postponed by one (1) day for each day that Landlord is prevented from performing such Landlord's Work by reason of Unavoidable Delay or Tenant Delay. If for any reason Landlord shall not have substantially completed, as determined in accordance with the provisions of Article 15, Landlord's Work on or prior to December 31, 2002, then, as Tenant's sole and exclusive remedy therefor (but subject to Subsection 2.2(d)(iii) below), Tenant may terminate this Lease upon written notice to Landlord ("Tenant's Notice"), which must be given after December 31, 2002 and received by Landlord on or before January 15, 2003, time being of the essence. If Tenant so elects to terminate this Lease, the same will be deemed cancelled and terminated upon Landlord's receipt of Tenant's Notice and neither party shall have any further liability to the other hereunder, except pursuant to those provisions of this Lease that expressly survive its expiration or sooner termination and except that Tenant shall surrender that portion of the Premises, if any, then occupied by Tenant on or before January 31, 2003, in vacant and broom clean condition with all of its personal property removed, as if such date were the Expiration Date, and Article 28 below shall apply in the event that Tenant fails to so surrender possession of the Premises. Notwithstanding the foregoing, if Landlord substantially completes Landlord's Work prior to January 15, 2003, Tenant's Notice shall be null and void and of no force or effect and this Lease shall remain in full force and effect. All of the dates set forth above in this paragraph, however, shall be postponed by one day for each day that Landlord is prevented from performing such Landlord's Work by reason of Unavoidable Delay or Tenant Delay.
(iii) Beginning on Notwithstanding the first (1st) anniversary foregoing provisions of this Section 2.2(d), if Landlord willfully refuses to perform Landlord's Work, then Tenant shall have such remedies as are available to Tenant at law and in equity and shall not be limited to those remedies specified above in this Section 2.2(d). This paragraph shall survive the Initial Rent Reset Date and on each anniversary thereafter during the Term termination of this Lease.
(iv) Reference is made to that certain letter agreement of even date herewith between Landlord and Tenant (the "Letter Agreement") pursuant to which Landlord has agreed to indemnify Tenant for certain costs and expenses with respect to Tenant's occupancy of the Existing Space (as defined in the Letter Agreement), in accordance with and subject to the terms and conditions set forth in the Letter Agreement. Notwithstanding the foregoing provisions of this Section 2.2(d), Landlord shall have such obligations to Tenant as are set forth in the Letter Agreement in addition to the remedies specified above in this Section 2.2(d). This paragraph shall survive the termination of this Lease.
(e) Notwithstanding the foregoing, the then-current Base Rent will increase payable pursuant to Section 2.2(b) shall be increased by as follows:
(i) The Base Rent payable with respect to the first Lease Year only shall be increased by an amount equal to accrued interest on Landlord's share of the CPI Rent Adjustment Amount.Shared Excess (as defined in Article 15 below) ("Landlord's Share"), at the rate of fifteen percent (15%) per annum compounded monthly on any advances of Landlord's Share from the date of each such advance by Landlord until the day following the last day of the Office Abatement Period; and
(ivii) As used herein:The Base Rent payable with respect to each Lease Year (including the first Lease Year) shall be increased by an annual amount equal to interest on Landlord's Share at the rate of fifteen percent (15%) per annum. For purposes of the calculations to be made pursuant to this Section 2.2(e) only, Landlord's share of that portion of the Shared Excess which is attributable solely to the Playboy Office Space (as defined in Section 15.3(e) below) shall be deemed to be one-third of such portion of the Shared Excess, notwithstanding anything in Section 15.3(e) below to the contrary. Tenant acknowledges that the abatement of Base Rent which is provided for in the last paragraph of Section 2.2(b) above shall not apply to the Base Rent which is payable pursuant to this Section 2.2(e). At Landlord's or Tenant's request, Landlord and Tenant will execute an agreement setting forth the increase in the Base Rent which is payable pursuant to this Section 2.2(e). Tenant's failure or refusal to sign such agreement shall in no event affect Landlord's determination of the same. Any disputes between the parties regarding the increase in Base Rent payable pursuant to this Section 2.2(e) shall be resolved by arbitration in accordance with Article 31 below.
Appears in 1 contract
Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) Tenant shall pay by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) by electronic funds transfer to Landlordthe account of Landlord as provided to Tenant, during the Term, an annual base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) for the first full month of the Property occurs and (B) [Insert Fixed Lease Term shall be paid on or before the Lease Commencement Date] (such earlier date, the “Initial Rent Reset Date”), as follows: . The Initial monthly Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had month at the beginning of the Lease Term shall equal the product of 1/365 of the annual Base Rent been increased annually by an amount equal to in effect during the CPI partial month and the number of days in the partial month, and such Base Rent Adjustment Amount payment is due on each anniversary the Lease Commencement Date; however, if the Rent Commencement Date is not a fixed date that is ascertainable as of the Lease Commencement Date during Date, then such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent payment for any fractional calendar month at the beginning of the Lease Term shall be fixed and without adjustment until it is reset due by Tenant on the Initial Rent Reset Commencement Date, in accordance with . All other payments or adjustments required to be made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first same basis. Base Rent and Additional Rent (1stas defined below) anniversary shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence. Tenant’s obligations and covenants contained herein (including, without limitation, the covenant to pay Rent) are independent of the Initial Rent Reset Date and on each anniversary thereafter during the Term obligations of Landlord under this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any defense, counterclaim, setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (i) including, without limitation, any reasonable charges for replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any be in addition to all other charge payments required to be paid to Landlord by TenantTenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in equal, consecutive advance in monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on installments of the first day of each calendar month throughout during the Lease Term and pro rata for any partial month during the Term. The extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent as of and Additional Rent to Landlord without demand. If the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month that immediately follows or months shall be prorated, based on the month number of days in which Stabilization (as defined below) such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Property occurs earliest Rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and (B) [Insert Fixed Date] (satisfaction, and Landlord may accept such earlier date, check or payment without prejudice to Landlord’s right to recover the “Initial balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent Reset Date”), as follows: The Initial Base on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be reset independent of every other covenant set forth in this Lease.
B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to an amount equal to the sum pay any installment of (1) the Initial Base Rent and (2) the aggregate sum Additional Rent or any other item of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date when due and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount payable hereunder, a “Late Charge” equal to the CPI Rent Adjustment Amount on each anniversary five percent (5%) of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall unpaid amount will be fixed due and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)payable immediately by Tenant to Landlord.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Alfacell Corp)
Base Rent. During the initial term and each additional term, as rent for the Premises and rights granted to the Lessee by this instrument, the Lessee promises and agrees to pay to the Lessor without notice or demand rent as follows:
(i) Tenant On the Commencement Date, Lessee shall pay to LandlordLessor Fixed Rent (Fixed Rent is defined as $66,666.67 paid monthly, during annualized to $800,000 per year) prorated by the Term, an annual rent amount number of days from the Commencement Date to the end of the month in which the Commencement Date falls.
(ii) Subsequent to the “Base Rent”Commencement Date and subject to subparagraph (iv), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction on or set-off whatsoever, on before the first day of each calendar month throughout month, IOC-Tunica shall pay Fixed Rent in advance to Lessor in the Term and pro rata amount of $66,666.67 for any partial month during the Term. The Base Rent as remainder of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as term of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs Lease and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the renewal terms of this Section 3(a)(ii)thereof.
(iii) Beginning on Percentage Rent is to be paid in arrears. Subsequent to the first (1st) anniversary of the Initial Rent Reset Commencement Date and subject to subparagraph (iv), on or before the 20/th/ day of each anniversary thereafter during the Term of this Leasemonth, the then-current Base Rent will increase by Lessee shall pay Lessor percentage rent in an amount equal to 2% of Gross Gaming Revenue for the CPI previous calendar month less the Fixed Rent Adjustment Amountalready paid on the 1/st/ of the month.
(iv) As used herein:Once Lessee has paid Lessor $800,000 during a Percentage Rent Year, then Lessee shall not be obligated to make any further Base Rent payments for that Percentage Rent Year unless and until such time as Lessee's total Gross Gaming Revenue for that Percentage Rent Year exceeds $40,000,000. On the 20/th/ day of the month following the first month during which total Gross Gaming Revenue for the Percentage Rent Year exceeded $40,000,000, Lessee shall pay Lessor Base Rent in an amount equal to 2% of the amount by which total Gross Gaming Revenue for the Percentage Rent Year exceeded $40,000,000. Thereafter, on the 20/th/ day of each month for the remainder of the Percentage Rent Year (including the 20/th/ day of the month following the last month of the Percentage Rent Year), Lessee shall pay to Lessor rent equal to 2% of the Gross Gaming Revenue for the prior calendar month.
(v) It is the intent of the parties that Base Rent paid to Lessor for any given Percentage Rent Year equal the greater of (x) 2% of Gross Gaming Revenue for the Percentage Rent Year or (y) $800,000. By way of example, and for clarification, Base Rent for any Percentage Rent Year will be as follows: GROSS GAMING REVENUE BASE RENT -------------------- --------- $30,000,000 $ 800,000 $37,000,000 $ 800,000 $42,000,000 $ 840,000 $50,000,000 $1,000,000 CHANGE IN IOC-TUNICA'S FISCAL YEAR
(vi) In the event IOC-Tunica changes its fiscal year during the term of this lease, the minimum base rent for any such year shall be adjusted to reflect the number of months in the adjusted fiscal year multiplied by one-twelth (1/12th) the base rent set forth herein provided, however, that the amount of monthly payments of Fixed Rent shall be unaffected by such a change.
(vii) Percentage Rent, if any, to be paid for a partial percentage rent year shall be paid consistent with the subparagraphs above.
(viii) By way of example, if IOC-Tunica's fiscal year in 1999 were to begin on May 1, 1999, and there were a change of IOC-Tunica's fiscal year to a calendar year (i.e., FY 1999 would end 12/31/99), then Isle of Capri- Tunica would continue to pay monthly Fixed Rent in the amount of $66,666.
Appears in 1 contract
Sources: Lease (Isle of Capri Casinos Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 6 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 6 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or any deduction whatsoever. The Base Rent as for the seventh (7th) full month of the Commencement Date Lease Term shall be paid at the time of Tenant’s execution of this Lease by certified or cashier’s check. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, then the Rent for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s Rent based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Leasesame basis. All payments received by Landlord from Tenant shall be applied, the then-current Base Rent will increase by an amount equal if Landlord elects in its sole discretion, to the CPI Rent Adjustment Amountoldest payment obligation owed by Tenant to Landlord, and no designation by Tenant, either in a separate writing or on a check or money order, shall modify this clause or have any force or effect.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Doma Holdings, Inc.)
Base Rent. (i) Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive without notice or demand, to Landlord or Landlord’s agent at the Address for Payment of any Rent, or at such other charge place as Landlord may from time to time designate in writing, in currency or a check for currency that, at the time of payment, is legal tender for private or public debts in the United States of America. Base Rent shall be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction advance on or set-off whatsoever, on before the first day of each calendar and every month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of after the Commencement Date during the Lease Term, without any setoff or deduction whatsoever (except to the extent otherwise expressly permitted hereunder). Notwithstanding the foregoing, Tenant shall pay the Amounts Due at Signing upon Tenant’s execution and delivery of this Lease. To the extent the Amounts Due at Signing include any Base Rent, such Base Rent shall be ($ ) (applied commencing on the “Initial Base Rent”).
(ii) Following first full calendar month after the Commencement Date, unless the Initial Commencement Date is the first day of a calendar month, in which case such prepaid Base Rent shall be reset as applied commencing on the Commencement Date. If any rental payment date (including the Commencement Date) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period that is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that immediately follows the number of days in such fractional month bears to the number of days in the calendar month during which Stabilization such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. If the Summary provides for any change in Base Rent by reference to years or months (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier datewithout specifying particular dates), the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning change will take effect on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each applicable annual or monthly anniversary of the Commencement Date during such period, with, for (which won’t necessarily be the avoidance first day of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(iia calendar month).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Twilio Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or at such other place in the TermUnited States as Landlord may from time to time designate in writing, an annual in currency or a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary full month of the Initial Rent Reset Date and on each anniversary thereafter during Lease Term shall be paid at the Term time of Tenant’s execution of this Lease. If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Notwithstanding the foregoing, provided there is no Event of Default under this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the Base Rent due during the first (1st), second (2nd), and third (3rd) full calendar months of the initial Lease Term (collectively, the then-current “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will increase still be responsible for the payment of all other monetary obligations due under this Lease during such Abatement Months including, without limitation, as applicable, any parking charges. Tenant acknowledges that any Event of Default by Tenant under this Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Landlord terminate this Lease at any time during the initial Lease Term on account of an amount equal Event of Default, then, in addition to all of Landlord’s other rights and remedies, the CPI Rent Adjustment Amounttotal unamortized sum of such Abated Amount (amortized on a straight line basis over the initial Lease Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 3 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Lease beyond any applicable notice and cure period.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay Base Rent to Landlord, during Landlord throughout the Term, an annual rent amount (the “Term of this Lease as set forth herein. All Base Rent”), exclusive of any other charge to Rent shall be paid by Tenant, payable to Landlord in equal, consecutive monthly installments, installments in advance, without any abatement, deductions, reduction or set-off whatsoever, advance on the first day of each and every calendar month throughout the Term and pro rata for any partial month during of this Lease; provided, however, that (a) the Term. The installment of Suite A-1 Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset applicable to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary full calendar month of the Initial Rent Reset Date and on each anniversary thereafter during Suite A-1 Period shall be payable upon Tenant's execution of this Lease; (b) if the Term of this Lease does not commence on the first day of a calendar month, the initial level of Suite A-1 Base Rent payable with respect to the first full calendar month of the Term shall (i) be calculated on a per diem basis determined by dividing the initial monthly Suite A-1 Base Rent [i.e., [*****]] by the total number of calendar days in such first full calendar month and multiplying such amount by the number of days occurring in such first full calendar month from and including the Commencement Date (A), and (ii) be paid by Tenant to Landlord on the Commencement Date (A); and (c) if the Suite B-1 Period does not commence on the first day of a calendar month, the initial level of Suite B-1 Base Rent payable with respect to the first (1st) full calendar month of the Suite B-1 Period shall (i) be calculated on a per diem basis determined by dividing the initial monthly Suite B-1 Base Rent [i.e., [*****]] by the total number of calendar days in the calendar month in which Commencement Date (B) occurs, and multiplying such amount by the number of days occurring in such calendar month from and including the Commencement Date (B), and (ii) be paid by Tenant to Landlord on the Commencement Date (B). Except as set forth in this Section 3.1, Tenant shall not pay any installment of Rent more than one (1) month in advance. For avoidance of doubt, if Tenant is entitled to any credits against Rent for a particular Tenant Space under the terms and provisions of this Lease, Tenant shall have the then-current Base right to deduct such credited amounts against the next payment(s) of Rent will increase by an amount equal related to the CPI Rent Adjustment Amountapplicable Tenant Space due and payable hereunder.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay to Landlord, during Landlord the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable Rent set forth in equal, consecutive monthly installments, in advanceSection 1.14, without any abatement, deductions, reduction offset or set-off whatsoever, deduction commencing on the Rent Commencement Date and thereafter on the first day of each calendar month throughout the Term and pro rata for any partial month during the Termmonth. The Base Rent So long as of the Commencement Date (i) this Lease shall be ($ ) (the “Initial Base Rent”).
in full force and effect and (ii) Following there shall exist no Event of Default on the Commencement Datepart of Tenant (nor any event or circumstance which, with the Initial passage of time or the giving of notice, or both, would constitute an Event of Default), Landlord will waive payment of Base Rent shall be reset as (but not Additional Rent, utility charges or any other amounts due or payable hereunder) on 4,815 rentable square feet of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) Premises Area for each lease year that would have been calculated during the period beginning commencing on the Commencement Date and ending expiring on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of 365th day following the Commencement Date (e.g. Tenant shall only be responsible during such period, with, period for Base Rent on 15,000 rentable square feet of Premises Area (19,815 r.s.f. - 4,815 r.s.f. = 15,000 r.s.f. x $27.00/r.s.f./annum = $405,000/year or $33,750/month)). If the avoidance Commencement Date is not the first day of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubta calendar month, the Initial partial month will be added to the first full twelve months of the Term, and Base Rent shall be fixed and without adjustment until it is reset commence on the Initial Rent Reset Date, in accordance with Commencement Date and shall be payable for the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary remainder of the Initial partial month at the rate set forth in Section 1.14 for such period. Base Rent Reset Date and on each anniversary thereafter for any period during the Term term hereof which is for less than one month shall be prorated based upon the actual number of days of the calendar month involved. Base Rent and all other amounts payable to Landlord hereunder shall be payable to Landlord in lawful money of the United States, and Tenant shall be responsible for delivering said amounts to Landlord at the address stated herein or to such other person or to such other place in the continental United States as Landlord may designate in writing. Landlord and Tenant agree that all amounts due from Tenant under or in respect of this Lease, the then-current whether labeled Base Rent will increase by an amount equal Rent, additional rent, additional charges or otherwise, shall be considered as rental reserved under this Lease for all purposes, including without limitation regulations promulgated pursuant to the CPI Rent Adjustment AmountBankruptcy Code, and including further without limitation Section 502(b) thereof.
(iv) As used herein:
Appears in 1 contract
Sources: Lease Agreement (Nitromed Inc)
Base Rent. (ia) Tenant shall pay to LandlordLandlord at the address set forth in Section 1(b), during or to such other person or at such other place as Landlord may from time to time designate, without previous demand therefor and without counterclaim, deduction or set-off (except as otherwise provided herein), the Term, an annual rent amount (the “Base Rent”)) set forth on the Rent Rider annexed hereto in lawful money of the United States, exclusive of any other charge such Base Rent to be paid by Tenant, payable in equal, consecutive monthly installments, installments in advance, without any abatement, deductions, reduction or set-off whatsoever, advance on the first day of each calendar month throughout the Term and pro rata for any partial month during the Termterm of the Lease. If the Rent Start Date shall be other than the first day of a calendar month, Tenant shall pay Landlord on the particular Rent Start Date the proportionate amount of Base Rent for the balance of such month. The first full monthly installment of Base Rent shall be paid by Tenant on execution of this Lease. In the event that Landlord shall be unable to satisfy the Approvals Requirement and Landlord or Tenant shall terminate this Lease, then Landlord shall return to Tenant the first installment of Base Rent.
(b) The Base Rent as set forth on the Rent Rider and Extension Options Rider has been calculated upon the assumption that the Premises has an aggregate floor area of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following precisely 106,000 square feet. Prior to the Commencement Date, Landlord shall furnish to Tenant a certification from B▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Architect and Design of the Initial aggregate floor area of the Premises and the Building. In the event that the aggregate floor area of the Premises is other than 106,000 square feet, the Base Rent shall be reset as proportionately adjusted. The square foot area of the earlier of (A) Premises and the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent Building shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, measured in accordance with the terms of this Section 3(a)(ii)BOMA 1996.
(iiic) Beginning on The Rent Start Date shall be the first later to occur of (1sti) anniversary April 1, 2005, or (ii) the date which shall be ninety (90) days following the date the Landlord shall satisfy the Approvals Requirement. If the Tenant delays the Landlord’s prosecution of the Initial Approvals, then the Rent Reset Start Date and on shall be accelerated by one day for each anniversary thereafter during such day of delay, but in no event shall the Term of this LeaseRent Start Date be earlier than April 1, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount2005.
(iv) As used herein:
Appears in 1 contract
Sources: Lease Agreement (Party City Corp)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as Concurrently with Tenant's execution of the Commencement Date this Lease, Tenant shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset deliver to Landlord an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually payable by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, Tenant for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on Premises for the first (1st) anniversary full month of the Initial Lease Term (i.e., $226,166.40). If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Notwithstanding anything to the contrary contained herein and so long as Tenant is not then in default under this Lease (beyond the expiration of all applicable notice and cure periods), Landlord hereby agrees (i) to ▇▇▇▇▇ Tenant's obligation to pay one hundred percent (100%) of Tenant's monthly Base Rent Reset Date for the Fourth Floor Premises for the first twelve (12) full months of the initial Lease Term, and on each anniversary thereafter during (ii) to ▇▇▇▇▇ Tenant's obligation to pay fifty percent (50%) 843078.08/SD374622-00033/8-4-16/MLT/dek -6- GENESIS SSF - ONE TOWER PLACE[Achaogen, Inc.] of Tenant's monthly Base Rent for the Third Floor Premises for the first twelve (12) full months of the initial Lease Term (collectively the "Abated Rent"). During such abatement period, Tenant shall still be 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 early termination pursuant to the provisions of Article 19 of this Lease, then as a part of the then-current Base Rent will increase by an amount equal recovery set forth in Article 19 of this Lease, Landlord shall be entitled to the CPI recovery of the unamortized amount of the Abated Rent Adjustment Amountthat was abated under the provisions of this Article 3.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (Achaogen Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”) as set forth in Section 8 of the Summary (and subject to the three percent (3%) annual increases set forth therein), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Notwithstanding anything to the contrary in this Lease, Tenant may at its election pay any Rent as of to Landlord by electronic transfer and Landlord agrees to provide ACH information to Tenant. No later than three (3) business days after the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent Tenant shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset deliver to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had Landlord the Base Rent been increased annually payable by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, Tenant for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on Premises for the first (1st) anniversary full month of the Initial Lease Term (i.e., $706,024.00). If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs (and if the Lease Commencement Date falls on a day of a month other than the first day of such month, then the excess Base Rent Reset Date and on each anniversary thereafter during paid by Tenant for such calendar month shall be credited against Base Rent for the Term next calendar month. All other payments or adjustments required to be made under the terms of this Lease, Lease that require proration on a time basis shall be prorated on the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Building, during the Termor at such other place as Landlord may from time to time designate in writing, an annual monthly installments of base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenant, payable in equal, consecutive monthly installmentsthe Summary, in advance, without any abatement, deductions, reduction advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. Notwithstanding anything to the contrary contained herein, and provided that Tenant is not in monetary or material default beyond any applicable notice, grace or cure period, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent for the first six (6) full 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. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 19.1 of this Lease, then as a part of the recovery set forth in Section 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent abated under the provisions of this Article 3 pro-rated to take into account that portion of time the Lease was in effect. The Base Rent as for the first full month of the Commencement Date Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the time of Tenant’s execution of this Lease. If any rental or other payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental or other payment is for a period which is shorter than one month, then the rental or other payment for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental or other payment based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)fractional month occurs.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (HMS Holdings Corp)
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (i) including, without limitation, any charges for any other services, goods or materials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any be in addition to all other charge payments required to be paid to Landlord by TenantTenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in equal, consecutive advance in monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, installments on the first day of each calendar month throughout during the Lease Term and pro rata for any partial month during the Term. The extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent as of and Additional Rent to Landlord without demand. If the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month that immediately follows or months shall be prorated, based on the month number of days in which Stabilization (as defined below) such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Property occurs earliest Rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and (B) [Insert Fixed Date] (satisfaction, and Landlord may accept such earlier date, check or payment without prejudice to Landlord’s right to recover the “Initial balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent Reset Date”), as follows: The Initial Base on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be reset independent of every other covenant set forth in this Lease.
B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to an amount pay any installment of Base Rent or Additional Rent or any other item of Rent when due and payable hereunder, a “Late Charge” equal to the sum five percent (5%) of (1) the Initial Base Rent such unpaid amount will be due and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually payable immediately by an amount equal Tenant to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)Landlord.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall The annual base rent, which Sublessee hereby agrees to pay to LandlordSublessor and Sublessor hereby agrees to accept shall be a sum equal to the product of twenty-Two Dollars ($22.00) multiplied by the number of rentable square feet (13,518), during as certified pursuant to the TermStandard, an annual rent amount in the Demised Premises (the “"Base Rent”"). The Base Rent shall be inclusive of Real Estate Taxes and all other Operating Costs (as such terms are defined in the ▇▇▇▇▇▇▇▇▇). The obligation of Sublessee to pay Base Rent shall begin on the Sublease Commencement Date. The annual Base Rent payable during each Sublease Year, exclusive of any other charge to as hereinafter defined, shall be paid by Tenant, divided into twelve (12) equal monthly installments and such monthly installments shall be due and payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial month during each Sublease Year. For the Term. The Base Rent as purposes of this Sublease, the Commencement Date term "Sublease Year" shall be mean a period of twelve ($ 12) (consecutive months, commencing on the “Initial Base Rent”).
(ii) Following the Sublease Commencement Date, and each successive twelve (12) June 1, 1997 Month period thereafter, except that, if the Initial Base Rent Sublease Commencement Date is a day other than the first day of a month, then the first Sublease Year shall commence on the Sublease Commencement Date and shall continue for the balance of the month in which the Sublease Commencement Date occurs and for a period of twenve (12) consecutive calendar months after the last day of such month. If the Sublease Commencement Date is a day other than the first day of a month, then, in the first Sublease Year, said twelve (12) installments shall be reset as of the earlier of (A) payable beginning on the first day of the calendar month that immediately follows following the month in which Stabilization (as defined below) the Sublease Commencement Date occurs and, in additions, on the Sublease Commencement Date, a payment of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to payable in an amount equal to the sum product of (1) the Initial annual Base Rent then in effect and (2) a fraction, the aggregate sum numerator of which is the number of days of the CPI Sublease Term in the month in which the Sublease Commencement Date occurs, and the denominator of which is 365. The monthly Base Rent, Additional Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date defined herein), and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually other charges herein reserved or payable shall be paid to Sublessor by an amount equal wire transfer to the CPI Rent Adjustment Amount on each anniversary account of: ▇▇▇▇▇ Industries Inc, Account Number 3900-0965 Cititbank NY, ABA #▇▇▇-▇▇▇-▇▇▇ with written confirmation of such transfer to the Sublessor at its offices at ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: Mr. Ian McaNeill or at such other place as Sublessor may designate in writing, in lawful money of the Commencement Date during United States of America, without demand therefor and without any deduction, setoff or abatement whatever, except as expressly provided in this Sublease. In the event that Sublessee does not remit any payment due under this Sublease to Sublessor within seven (7) calendar June 1, 1997 days of when it is due, such periodamount shall be subject to a late fee of 5% of the amount, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded and bear interest at 2% over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment Wall Street Journal Prime Rate until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)paid.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Sublease Agreement (Psinet Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Building, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the second (2nd) full month of the Commencement Date Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
Lease that require proration on a time basis shall be prorated on the same basis. 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▇▇▇▇ Tenant’s obligation to pay Tenant’s monthly Base Rent (iiithe “Abated Rent”) Beginning on for the first (1st) anniversary month of the Initial Rent Reset Date and on each anniversary thereafter during Lease Term (the Term “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 of this Lease, then as a part of the then-current Base Rent will increase by an amount equal recovery set forth in Article 19 of this Lease, Landlord shall be entitled to the CPI Rent Adjustment Amountrecovery of the Abated Rent.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Building, during the Termor at such other place as Landlord may from time to time designate in writing, an annual monthly installments of base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenant, payable in equal, consecutive monthly installmentsthe Summary, in advance, without any abatement, deductions, reduction advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. 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 ▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent and Additional Rent for the first five (5) full months plus the first two (2) weeks of month six (6) 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. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 19.1 of this Lease, then as a part of the recovery set forth in Section 20 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent abated under the provisions of this Article 3. The Base Rent as for the first full month of the Commencement Date Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the time of Tenant’s execution of this Lease. If any rental or other payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental or other payment is for a period which is shorter than one month, then the rental or other payment for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental or other payment based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)fractional month occurs.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Planar Systems Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord's agent at the management office of the Project, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base and estimated Additional Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary full month of the Initial Rent Reset Date and on each anniversary thereafter during Lease Term (in the Term aggregate amount of $60,537.73) shall be paid at the time of Tenant's execution of this Lease. If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the then-current rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the ▇▇▇▇▇▇▇▇ PLAZA Vivus, Inc. ▇▇▇▇▇▇▇▇ PLAZA Vivus, Inc. proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. If, at any time, Tenant is in default of any monetary or other material term, condition or provision of this Lease beyond applicable notice and grace periods, to the fullest extent permitted by law, any express or implicit waiver by Landlord of Tenant's requirement to pay Base Rent will increase during any period of time from and after the Lease Commencement Date shall be null and void and Tenant shall immediately pay to Landlord all Base Rent so expressly or implicitly waived by an amount equal to the CPI Rent Adjustment AmountLandlord.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Vivus Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord's agent at the management office of the Real Property, during or at such other place as Landlord may from time to time designate in writing, in currency, by wire transfer or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount ("BASE RENT") as set forth in Section 8 of the “Base Rent”), exclusive of any other charge to be paid by TenantSummary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction except as otherwise expressly provided in this Lease. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) full month of the Lease Term shall be paid by Tenant to Landlord no later than June 30, 2001. If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. All increases in Base Rent set forth in Section 8 of the Summary shall be tied to the applicable anniversary of the Initial Rent Reset actual Lease Commencement Date as set forth therein, and on each anniversary thereafter during any time periods or specific dates for exercising any rights or taking any action described in this Lease which are measured or derived from the Term Lease Commencement shall be based upon the actual Lease Commencement Date as determined pursuant to Section 7.2 of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment AmountSummary.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) 3.1 Tenant shall pay pay, without notice or demand, to LandlordLandlord by wire transfer to: First Republic Bank, during the Term▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇, an annual ▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇; ABA ▇▇▇▇▇▇▇▇▇; Account Name: Tallwood Forest, LLC; Account Number: 80006851184, or such other place as Landlord may from time to time designate in writing, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as and Additional Rent for the first full month of the Commencement Date Lease Term in which Base Rent is payable hereunder shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (the “Initial Base Rent”).
(ii) Following including the Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii)Lease that require proration on a time basis shall be prorated on the same basis.
(iii) Beginning on 3.2 Provided that Tenant is not in default under this Lease, then during the first (1st) anniversary full calendar month of the Initial Lease Term (the “Rent Reset Date Abatement Period”), Tenant shall not be obligated to pay Base Rent otherwise attributable to the Premises during such Rent Abatement Period (the “Rent Abatement”). Notwithstanding the foregoing or anything to the contrary set forth in this Lease, Tenant shall be required to pay Tenant’s Share of Operating Expenses, Tax Expenses and on each anniversary thereafter Utility Expenses attributable to the Premises and all other Additional Rent (as defined in Article 4, below) due pursuant to the terms of this Lease during the Rent Abatement Period. Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and perform the terms and conditions otherwise required under this Lease. If at any time during the Lease Term Tenant is in default under this Lease, and Tenant shall fail to cure such default within any applicable notice and cure period, or if this Lease is terminated for any reason other than Landlord’s breach of this Lease, then the then-current dollar amount of the unapplied portion of the 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 will increase by an amount equal applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the CPI Rent Adjustment AmountPremises in full.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (Hippo Holdings Inc.)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord's agent at such place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or at Landlord's election, by wire or ACH transfer or as otherwise specified by Landlord, during the Term, an annual base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Concurrently with T▇▇▇▇▇'s execution of this Lease, Tenant shall deliver to Landlord the following: (i) the Base Rent as payable by Tenant for the Premises for the seventh (7th) full month of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
Lease Term; and (ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization Estimated Expenses (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually payable by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, Tenant for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on Premises for the first (1st) anniversary full month of the Initial Rent Reset Date and Lease Term. If any rental payment date (including the Lease Commencement Date) falls on each anniversary thereafter a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the Term terms of this Lease, Lease that require proration on a time basis shall be prorated on the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Lease Agreement (Netgear, Inc.)
Base Rent. (i) Base Rent for the month in which the Commencement Date occurs and the Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without demand, abatement (except for any abatementabatement as may be expressly provided for in this Lease), deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent for any partial fractional calendar month during the Termshall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as of defined in Section 5) due hereunder except for any abatement as may be expressly provided for in this Lease. Notwithstanding anything to the contrary contained in this Lease, so long as Tenant is not in Default under this Lease, for the period commencing on the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following or, if the Commencement DateDate does not occur on the first day of a calendar month, the Initial Base Rent shall be reset then as of the earlier of (A) the first day of the first full calendar month that immediately follows following the month in which Stabilization (as defined belowCommencement Date) through the last day of the Property occurs and 14th full calendar month following the Commencement Date (B) [Insert Fixed Date] (such earlier date, the “Initial Partial Base Rent Reset DateAbatement Period”), as follows: The Initial Tenant shall only be required to pay Base Rent with respect to only 50% of the Premises. Tenant shall be reset to an amount equal commence paying Base Rent with respect to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning entire Premises on the first (1st) anniversary day of the Initial Rent Reset Date and on each anniversary thereafter during 15th full calendar month following the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment AmountCommencement Date.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Building, during the Termor at such other place as Landlord may from time to time designate in writing, an annual monthly installments of base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenant, payable in equal, consecutive monthly installmentsthe Summary, in advance, without any abatement, deductions, reduction advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the time of Tenant’s execution of this Lease. If any rental or other payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental or other payment is for a period which is shorter than one month, then the rental or other payment for any such fractional month shall be a proportionate amount of a full calendar month’s rental or other payment based on the proportion that immediately follows the number of days in such fractional month bears to the number of days in the calendar month during which Stabilization (as defined below) such fractional month occurs. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the Property occurs terms and (B) [Insert Fixed Date] (such earlier dateconditions of this Lease, the “Initial Rent Reset Date”), as follows: The Initial Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent shall be reset to an amount equal to for the sum of second (12nd) the Initial Base Rent and through fifth (25th) the aggregate sum full months of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during initial Lease Term. During such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such periodabatement periods, with, Tenant shall still be responsible for the avoidance payment of doubt, each such CPI Rent Adjustment Amount compounded over all of its other monetary obligations under this Lease. In the prior lease years. For the avoidance event of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term 19.1 of this Lease, then as a part of the then-current recovery set forth in Section 19.2 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent will increase by an amount equal to abated under the CPI Rent Adjustment Amountprovisions of this Article 3.
(iv) As used herein:
Appears in 1 contract
Base Rent. Commencing on the date set forth in Section 4.1 of the Summary (i) the "Rent Commencement Date"), Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord's agent at the address set forth in Section 4.3 of the Summary, or, at Landlord's option, at such other place as Landlord, during may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. If any Rent payment date (including the Base Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount adjusted on each anniversary of the Lease Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, as set forth in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary 4.4 of the Initial Summary. Any installment of rent or any other charge payable which is not paid within ten (10) business days after it becomes due will be considered past due and Tenant will pay to Landlord as Additional Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount a late charge equal to the CPI product of five percent (5%) times the amount of such installment amount due, or the sum of one hundred dollars ($100.00), whichever is greater, plus monthly interest at the rate of the variable Prime Rate “Prime”, plus six percent (6%) per annum as charged by Bank of America, Nevada, or the maximum legal interest rate, whichever is less, for each month or fractional month transpiring from the date due until paid. A twenty-five dollar ($25.00) handling charge will be paid by Tenant to Landlord for each returned check and, thereafter, Tenant will pay all future payments of rent or other charges due by money order or cashier’s check. In the event a late charge is assessed for three (3) consecutive rental periods, whether or not it is collected, the Rent Adjustment Amountshall without further notice become due and payable quarterly in advance notwithstanding any provision of this Lease to the contrary. If Tenant shall be served with a demand for the payment of past due rent, any payments tendered thereafter to cure any default by Tenant shall be made only by cashier’s check.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing (provided any such notice changing the Termplace for payment is given to Tenant no later than fifteen (15) days prior to the next date that Base Rent is due), an annual in a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 6 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 6 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, commencing with respect to each floor of the Premises on the Lease Commencement Date therefor as set forth in Section 5.2 of the Summary, without any setoff or deduction whatsoever (except as otherwise expressly set forth in this Lease). Notwithstanding the foregoing, Base Rent shall be increased by the amount of Base Rent for the Must Take Space effective as of the Must Take Space Commencement Date as set forth in Section 1.5 of this Lease. The Base Rent as for the first full month of the Lease Term which occurs in calendar year 1999 for both the initial Premises and the Must Take Space (i.e., a total of $218,229.30) shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date shall be ($ for the 22nd Floor Space) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as falls on a day of the earlier of (A) month other than the first day of the such month that immediately follows the month in or if any payment of Rent is for a period which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier dateis shorter than one month, the “Initial Rent Reset Date”), as follows: The Initial Base Rent for any fractional month shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require prorated on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Health Net Inc)
Base Rent. (i) Tenant shall pay to Landlord, during Landlord the sum of TWO HUNDRED FORTY THOUSAND and No/100 Dollars ($240,000.00) per annum as the "Base Rent" due for the Term; which amount shall be payable in equal monthly installments of TWENTY THOUSAND and No/100 Dollars ($20,000.00). If the Term does not begin on the first day or end on the last day of a calendar month, an annual rent amount (then the “Base Rent”)Rent for that partial month shall be prorated by multiplying the monthly Base Rent by a fraction, exclusive the numerator of any other charge to which is the number of days of the partial month included in the Term and the denominator of which is the total number of days in the full calendar month. The Base Rent shall be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, advance on the first day of each calendar month throughout during the Term without advance notice, demand, offset, or deduction, unless such offset or deduction is made by Tenant as expressly permitted in this Lease or to recover any unpaid (non-appealable) arbitration award or court judgment Tenant has against Landlord. All Base Rent and pro rata Additional Rent (defined below) shall be paid to Landlord at the address specified in this Lease for any partial month during the Termnotice to be given hereunder, or as Landlord may otherwise specify in writing to Tenant. The Base Rent shall be subject to adjustment as follows: Beginning as of the Commencement Date Date, each successive twelve (12) full calendar month period of the Term shall be ($ ) (deemed to be a "Lease Year"; provided that should the “Initial Base Rent”).
(ii) Following Term commence on a date other than the first day of a calendar month, the first Lease Year shall also include the partial calendar month of the Commencement Date; and further provided that the last Lease Year shall end as of the Expiration Date or earlier termination date of this Lease. Commencing as of the second Lease Year and continuing for each Lease Year of the Term, the Initial annual Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset increased each Lease Year to an amount equal to the sum One Hundred Two and 50/100 Percent (102.5%) of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date payable during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease yearsLease Year. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:i.
Appears in 1 contract
Sources: Office Lease Agreement (E Loan Inc)
Base Rent. Base Rent for the month in which the Commencement Date occurs (ior, if the Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the Commencement Date) and the Security Deposit shall be due and payable concurrently with ▇▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord. Base Rent for the month in which the 47 ▇▇▇▇▇▇▇ Premises Rent Commencement Date occurs (or, if the 47 ▇▇▇▇▇▇▇ Premises Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the 47 ▇▇▇▇▇▇▇ Premises Rent Commencement Date) shall be due and payable on the 47 ▇▇▇▇▇▇ Premises Commencement Date. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any demand, abatement, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata for any partial month during the Term. The Base Rent as of hereof after the Commencement Date with respect to the 45 ▇▇▇▇▇▇▇ Premises and after the 47 ▇▇▇▇▇▇▇ Premises Rent Commencement Date with respect to the 47 ▇▇▇▇▇▇▇ Premises, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to the wire instructions provided by Landlord. Payments of Base Rent for any fractional calendar month shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as defined belowin Section 5) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata due hereunder except for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall abatement as may be fixed and without adjustment until it is reset on the Initial Rent Reset Date, expressly provided in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (ia) During the Original Lease Term and each Renewal Term, if applicable, Tenant shall pay to LandlordLandlord annual fixed rent (the "Annual Base Rent") in an amount equal to the Fair Market Rent (as hereinafter defined) as of the date (the "Rent Appraisal Date") which is not less than sixty (60) days prior to (i) the Commencement Date, during with respect to the Original Lease Term, an annual rent amount (ii) the “commencement of the First Renewal Term, with respect to the First Renewal Term, and (iii) the commencement of the Second Renewal Term, with respect to the Second Renewal Term. The Annual Base Rent”), exclusive of any other charge to Rent shall be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term and each Renewal Term, if applicable, without notice or demand and without any set-off, abatement or deduction whatsoever, at the office of Landlord stated in Section 1, or at such other place as Landlord may designate from time to time in writing. The Base Rent as first monthly installment of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Annual Base Rent shall be reset as due and payable at the time of the earlier execution of (A) this Lease. Such first monthly installment of Annual Base Rent shall be in the amount due for the first month of the Original Lease Term. The first monthly installment of Annual Base Rent shall be credited by Landlord against the first monthly installment of Annual Base Rent due during the Lease Term. If the Lease Term shall commence on a day other than the first day of a calendar month, or shall end on other than the last day of a calendar month, then the monthly installment of Annual Base Rent due for such partial month shall be pro-rated.
(b) For the purposes of this Article, the term "Fair Market Rent" shall mean the then annual fair market rental rate that immediately follows would be paid by a willing tenant, not compelled to lease, and accepted by a willing landlord, not compelled to lease, for the month in which Stabilization (Demised Premises as defined below) of the Property occurs pertinent date, considering (a) that Additional Rent shall continue to be payable during each 5-year period of the Term without any changes in this Lease relating to Additional Rent, (b) the age and quality of the Building as of such date, (c) the length of the applicable Term, and (Bd) [Insert Fixed Date] (such earlier other factors that Landlord and Tenant reasonably agree shall be relevant at the applicable date, the “Initial Rent Reset Date”), as follows: The Initial Base . Fair Market Rent shall be reset to an amount equal to determined by mutual agreement between Landlord and Tenant (based upon the sum of (1above factors) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed set forth in a writing to be executed by Landlord and without adjustment until it is reset on Tenant; provided, however, that the Initial Rent Reset Date, in accordance with failure of either party to execute such writing shall not affect the terms determination of this Section 3(a)(ii)Fair Market Rent.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Real Property Put and Option Agreement (Ha Lo Industries Inc)
Base Rent. (ia) From and after the mutual execution of this Amendment until the Existing Termination Date, and in addition to all other charges payable under the Lease, Tenant shall continue to pay the Monthly Rent with respect to Landlordthe Premises in accordance with the terms and provisions of the Existing Lease, except that provided there is no Event of Default by Tenant existing under the Lease at any time before or during the Term“Waiver Period” (as hereinafter defined), an annual rent amount the monthly installments of Monthly Rent due under the Lease is hereby waived by Landlord (the “Base Waived Rent”)) for the first three (3) full calendar months commencing on the Effective Date or, exclusive if the Effective Date is not the first day of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoevera calendar month, on the first day the month immediately following the Effective Date (“Waiver Period”). This waiver shall not affect Tenant’s obligation to pay Tenant’s Electrical Charge, Tenant’s Share of each calendar month throughout increases in Operating Expenses and Tax Expense, or any other amounts payable by Tenant under the Term and pro rata for any partial month during Lease. Commencing on the Term. The Base Rent as first day following the expiration of the Commencement Date Waiver Period. Tenant shall be re-commence paying the Monthly Rent due under the Existing Lease. Notwithstanding the foregoing, in the event the Lease is terminated prior to the expiration of the Extended Term due to an Event of Default by Tenant, Tenant shall, in addition to any and all other amounts payable by Tenant pursuant to the Lease, repay the entire amount of Waived Rent to Landlord, together with interest at ten percent ($ 10%) (per annum, accruing from the “Initial Base Rent”)date such payment would have been due through the date of repayment of such amount by Tenant.
(iib) Following During the Commencement DateExtended Term, Tenant shall pay the Initial Base Monthly Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over Premises in the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Dateamounts set forth below, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary 5 of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Existing Lease: From June 1, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:2009 through May 31, 2010 $ 75,564.50 $ 906,774.00 $ 33.00 From June 1, 2010 through May 31, 2011 $ 77,854.33 $ 934,252.00 $ 34.00 From June 1, 2011 through May 31, 2012 $ 80,144.17 $ 961,730.00 $ 35.00 From June 1, 2012 through May 31, 2014 $ 82,434.00 $ 989,208.00 $ 36.00
Appears in 1 contract
Base Rent. From and after the date (ithe “Rent Commencement Date”) Tenant that is four (4) months after the Commencement Date, Sub-Sub-subtenant shall pay to LandlordSub-Sub-sublandlord, during as rent for the TermSub-Sub-sublease Premises, an base annual rent amount (the “Base Rent”), exclusive ) as set forth below. Sub-Sub-sublandlord hereby acknowledges receipt of any other charge to Base Rent in the amount of $162,925.67 for the first full calendar month of the Term following the Rent Commencement Date. Base Rent shall be paid by Tenant, payable in equal, consecutive equal monthly installments, in advance, without any abatement, deductions, reduction advance on or set-off whatsoever, on prior to the first day of each calendar month throughout month, as follows:
(a) Commencing on the Term Rent Commencement Date and pro rata for any partial month during continuing until the Term. The Base Expiration Date occurs, Sub-Sub-subtenant shall pay to Sub-Sub-sublandlord as base rent the sum of ONE MILLION NINE HUNDRED FIFTY-FIVE THOUSAND ONE HUNDRED EIGHT AND 00/100 DOLLARS ($1,955,108.00) per annum, payable in equal monthly installments of $162,925.67.
(b) If the Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning occur on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on a date other than the first (1st) anniversary day of any calendar month, the Initial Base Rent Reset payable hereunder for such month shall be prorated on a per diem basis and shall be paid on the Rent Commencement Date. If the Expiration Date and shall occur on each anniversary thereafter during any date other than the last day of a calendar month, Base Rent for such month shall be prorated on a per diem basis based on the number of days in the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountoccurring in such month.
(ivc) As used herein:Promptly after the Commencement Date and the Rent Commencement Date are determined, Sub-Sub-sublandlord and Sub-Sub-subtenant, at either Sub-Sub-sublandlord’s or Sub-Sub-subtenant’s request, will execute an agreement setting forth each of the above dates. Sub-Sub-subtenant’s or Sub-Sub-sublandlord’s failure or refusal to sign the same shall in no event affect the determination of such dates or either party’s obligations hereunder.
Appears in 1 contract
Sources: Sub Sub Sublease (Datadog, Inc.)
Base Rent. (i) Tenant shall pay to LandlordLandlord at the address set forth in --------- Section 1(n), during as base rent for the TermDemised Premises, an commencing on the Base Rent Commencement Date and continuing throughout the Term in lawful money of the United States, the annual rent amount set forth in Section 1(d) payable in equal monthly installments as set forth in Section 1(e) (the “"Base Rent”"), exclusive of any other charge to be paid by Tenant, payable in equaladvance, consecutive -2- payable in equal monthly installmentsinstallments as set forth in Section 1(e) (the "Base Rent"), payable in advance, without any demand and without abatement, deductionsreduction, reduction or set-off whatsoeveror deduction, on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The If the Base Rent as of the Commencement Date shall be ($ ) (fall on a day other than the “Initial Base Rent”).
(ii) Following the Commencement Datefirst day of a calendar month, the Initial Base Rent shall be reset as of apportioned pro rata on a per diem basis (i) for the earlier of (A) period between the Base Rent Commencement Date and the first day of the following calendar month that immediately follows (which pro rata payment shall be due and payable on the Base Rent Commencement Date), and (ii) for the last partial month of the Term, if applicable. No payment by Tenant or receipt by Landlord of rent hereunder shall be deemed to be other than on account of the amount due, and no endorsement or statement on any check or any letter accompanying any check or payment of rent shall be deemed an accord and satisfaction, and Landlord may accept such check as payment without prejudice to Landlord's right to recover the balance of such installment or payment of rent or pursue any other remedies available to Landlord.
4.1 Landlord hereby agrees to provide to Tenant an allowance in which Stabilization the amount of $400,000.00 ("Maximum Construction Allowance") for the installation of the interior finish of the office area of the Demised Premises ("Allowance Work"). If, following the final approval of the Plans and Specifications (as defined belowin Section 17(a) of this Lease), Landlord reasonably determines that the Property occurs cost of the Allowance Work will exceed the amount of the Maximum Construction Allowance, Landlord will give written notice of such determination to Tenant, which notice will specify the estimated amount by which the cost of the Allowance Work will exceed the Maximum Construction Allowance. Subject to the rights of review and approval granted Tenant hereinafter in this Section 4.1, Tenant agrees to deliver to Landlord such excess amount in cash within ten (B10) [Insert Fixed Date] (business days following receipt of such earlier datenotice. If Tenant does not utilize the full Maximum Construction Allowance, the “Initial Rent Reset Date”), unused portion may be applied by Tenant as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial a credit against Base Rent and (2) the aggregate sum of the CPI Additional Rent Adjustment Amount (as hereinafter defineddefined in Section 6) for each lease year that which would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, otherwise accrue in accordance with this Lease. At any time after the terms occurrence of Substantial Completion, Landlord and Tenant shall, within thirty (30) days after receipt by Tenant of a written request from Landlord, execute and deliver an amended and restated version of this Lease which will delete this Section
4.1 in its entirety and delete any other references in this Lease to the provisions of this Section 3(a)(ii4.
1. With respect to the Maximum Construction Allowance, Landlord agrees that Landlord will give Tenant a reasonable opportunity to review and approve any bids or contracts which Landlord desires to accept from any contractor for performance of the work which will be paid from the Maximum Construction Allowance; provided that Tenant must respond in writing within five (5) business days after receipt of any written submission from Landlord. A failure to respond timely shall constitute approval. Landlord will not accept a bid or enter into a contract without the approval of Tenant; provided that Tenant acknowledges that (i) Landlord will not be in a position to submit an application for the Permits (as defined in Section 17(a)) without the required approval from Tenant and (ii) each day that elapses after such fifth (5th) business day, until the requisite approval is obtained from Tenant, will constitute a day of Tenant Delay (as defined in Section 17.1).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay to Landlord, during the Term, an annual base rent amount (the “"Base Rent”") for the first Lease Year in an amount equal to $700,000.00, and for each subsequent Lease Year in an amount equal to 4.77% of the Gross Revenues of Tenant in that Lease Year (the "Base Amount"), exclusive but for each subsequent Lease Year ending on or before December 31, 2017, the Base Rent shall not be less than $1.4 million per Lease Year (the "Floor Amount"). Tenant shall pay the Base Rent for the first Lease Year ($700,000.00), together with a transaction fee of any other charge $700,000.00, to Landlord in a lump sum on or before Commencement Date. The Base Rent for each subsequent Lease Year through 2017 shall be paid by Tenant, payable in equal, consecutive equal monthly installments, installments of $116,666.66 in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout the Term and pro rata for any partial month during the Termmonth. The Base Rent as of the Commencement Date for each Lease Year after 2017 shall be payable in monthly installments, in arrears, on or before the twentieth ($ 20th) (day of each month for the “Initial Base Rent”).
(ii) preceding calendar month. Following the Commencement Datefirst Lease Year, if the Initial aggregate amount of monthly Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata payments made by Tenant for any partial lease year during such period) had subsequent Lease Year exceeds the Base Rent been increased annually by an computed on the amount equal of Gross Revenues for that Lease Year, then the amount of such excess shall be applied to the CPI next succeeding monthly installment(s) of Base Rent Adjustment Amount due hereunder, provided, however, that in no event shall the Base Rent payable for the second Lease Year and each subsequent Lease Year ending on each anniversary or before December 31, 2017, be less than the Floor Amount. If the aggregate amount of monthly Base Rent payments made by Tenant for any Lease Year is less than the Base Rent computed on the amount of Gross Revenues for that Lease Year, then Tenant shall pay any deficiency by March 31 of the Commencement Date during next succeeding Lease Year. If the last Lease Year terminates on a day other than the last day of a calendar year, the Floor Amount payable under this Lease for such period, with, fractional Lease Year shall be prorated based upon the actual number of days contained in such fractional Lease Year. Tenant shall be entitled to a credit against the Base Rent owing for the avoidance first Lease Year for any fees, charges or expenses of doubtthe Trustee or Landlord, each such CPI Rent Adjustment Amount compounded over in excess of $97,000 in the prior lease years. For the avoidance of doubtaggregate, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, that are paid by Tenant in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on Indenture at the first (1st) anniversary time of the Initial Rent Reset Date and on each anniversary thereafter during the Term execution of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Lease Agreement (Six Flags Inc)
Base Rent. (i) Commencing on the Rent Commencement Date, Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other address of which Landlord may from time to time notify Tenant, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction other than as provided in this Lease. The Base Tenant shall have the right to pay Rent as by ACH or wire. Concurrently with ▇▇▇▇▇▇’s execution of the Commencement Date this Lease, Tenant shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset deliver to Landlord an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually payable by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, Tenant for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on Premises for the first (1st) anniversary full month following the Rent Commencement Date (and following the prorated Base Rent period for the first full calendar month of the Initial Lease Term (i.e., $68,210.00). If any rental payment date (including the Rent Reset Date and Commencement Date) falls on each anniversary thereafter during a day of the month other than the first day of such month, or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month that falls within the Lease Term bears to the total number of days in such calendar month. All other payments or adjustments required to be made under the terms of this Lease, Lease that require proration on a time basis shall be prorated on the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (MBX Biosciences, Inc.)
Base Rent. (ia) Tenant shall pay the Base Rent to LandlordLandlord in accordance with the schedule set forth on the Basic Lease Information page and in the manner described below. Upon execution of this Lease, during Tenant shall pay one month’s Base Rent for the Termentire Premises at the rate first stated in the Basic Lease Information Page, an annual rent amount (and such Rent shall be applied to the “Base Rent”)Rent first due hereunder after any Rent abatement provided for herein. Tenant shall pay the Base Rent plus, exclusive when applicable in accordance with Section 4.2 below, Tenant’s Proportionate Share of any other charge to be paid by Tenant, payable in equal, consecutive monthly installmentsIncreased Operating Cost, in advance, without any abatement, deductions, reduction monthly installments on or set-off whatsoever, on before the first day of each calendar month throughout during the Term (subject to any rent abatement specifically provided in this Lease) and pro rata for any partial month during the Term. The Base Rent extensions or renewals thereof, in advance without demand and without any reduction, abatement (except as specifically provided in this Lease), counterclaim or setoff, in lawful money of the Commencement Date shall United States, at Landlord’s address specified on the Basic Lease Information page or at such other address as may be ($ ) (designated by Landlord from time to time in the “Initial Base Rent”)manner provided for giving notice under Section 17.11 hereof.
(iib) Following If the Commencement DateTerm commences on other than the first day of a month, then the Initial Base Rent provided for such partial month shall be reset as of prorated based upon a thirty (30)-day month and the earlier of (A) prorated installment shall be paid on the first day of the calendar month next succeeding the Commencement Date together with the other amounts payable on that immediately follows day. If the Term terminates on other than the last day of a calendar month, then the Rent provided for such partial month shall be prorated based upon a thirty (30)-day month and the prorated installment shall be paid on the first day of the calendar month in which Stabilization (as defined below) the date of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)termination occurs.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Beginning on the Commencement Date, Tenant shall pay to Landlord, during the Termat P. O. Box 926040, an Norcross, Georgia 30010-6040, or at such other place as Landlord may designate in writing to Tenant, annual base rent amount (the “Base Rent”)) in the amounts set forth below for the Premises, exclusive based on the Premises containing 36,159 square feet of any other charge to Rentable Area: 6/1/04 - 5/31/05 $ 16.25 $ 48,965.31 $ 587,583.75 6/1/05 - 5/31/06 $ 16.25 $ 48,965.31 $ 587,583.75 6/1/06 - 5/31/07 $ 17.00 $ 51,225.25 $ 614,703.00 6/1/07 - 5/31/08 $ 18.00 $ 54,238.50 $ 650,862.00 The Base Rent for each Lease Year shall be paid by Tenant, payable in equal, consecutive equal monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, due on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as month, in advance, in legal tender of the Commencement Date shall United States of America, without abatement, demand, deduction or offset whatsoever, except as may be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial expressly provided in this Lease. One full monthly installment of Base Rent shall be reset as due and payable on the Commencement Date by Tenant and a like monthly installment of the earlier of (A) Base Rent shall be due and payable on or before the first day of the each calendar month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of following the Commencement Date during such periodthe Lease Term hereof. Tenant shall pay, withas Additional Rent, for all other sums due from Tenant under this Lease. The term “Rent”, as used herein, means all Base Rent, Additional Rent and all other amounts payable hereunder from Tenant to Landlord. If the avoidance Lease Term commences or terminates on a day other than the first or last day of doubta calendar month respectively, each such CPI Rent Adjustment Amount compounded over then the prior lease years. For the avoidance installments of doubt, the Initial Base Rent for such month or months shall be fixed prorated and without adjustment until it is reset on the Initial Rent Reset Date, installments so prorated shall be paid in advance. If the Premises shall be expanded in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on Second Restated Lease, then the first (1st) anniversary amount of Base Rent shall be appropriately adjusted in accordance with the Initial Rent Reset Date and on each anniversary thereafter during the Term terms of this Second Restated Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay to Landlord, during at Landlord's Address for Payment of Rent designated in the TermBasic Lease Information, an annual rent amount (or at such other address as Landlord may from time to time designate in writing to Tenant for the “payment of Rent, the Base Rent”, without notice, demand, offset or deduction (except as otherwise provided herein), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout during the Term and pro rata commencing on the Rent Commencement Date. Upon the execution of this Lease, Tenant shall pay to Landlord the Base Rent due for any partial the first full calendar month during the Term. The Base Term after the Rent as of the Commencement Date shall be ($ ) (and any abatement period. If the “Initial Base Rent”).
(ii) Following Rent Commencement Date occurs on a date other than the Commencement Datefirst day of a month or the Term ends on a date other than the last day of a month, the Initial Base Rent shall be reset as prorated on the basis of a thirty (30) day month. [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 14 Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the earlier terms and conditions of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier datethis Lease, the “Initial Rent Reset Date”), as follows: The Initial Landlord hereby agrees to aba▇▇ ▇▇nant's obligation to pay monthly Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary full month of the Initial Rent Reset Date initial Lease Term. During such abatement period, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease, including Tenant's Percentage Share of Operating Expenses and on each anniversary thereafter during Real Estate Taxes. In the Term event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 16.3 of this Lease, then as a part of the then-current recovery set forth in such Section 16.3 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent will increase by an amount equal to that was abated under the CPI Rent Adjustment Amountprovisions of this Section 4.1.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Allos Therapeutics)
Base Rent. (i) Tenant shall pay to Landlord, during Commencing on the Rent Commencement Date and then continuing throughout the Term, an annual rent amount (Tenant agrees to pay Landlord Base Rent according to this Section 4.1, without demand, deduction, setoff, abatement or credit except as expressly contained in the “Lease. Base Rent”), exclusive Rent during each Lease Year of any other charge to the Term will be paid by Tenant, payable in equal, consecutive monthly installmentsinstallments in an amount equal to 1/12 of the amount obtained by multiplying the rate of Base Rent for such Lease Year set forth in the definition of Base Rent in Section 1.1 by the number of square feet of Rentable Area of the Premises, in advance, without any abatement, deductions, reduction on or set-off whatsoever, on before the first day of each calendar and every month throughout during the Term and pro rata Term; if the number of days in the first Lease Year is greater than 365 or 366 days, as applicable, such monthly rental shall also be payable for each additional 30-day period, prorated for any partial month during as provided in the following sentence. If the Rent Commencement Date is a date other than the first day of a calendar month or if the Term ends on a date other than the last day of a calendar month, Landlord will prorate monthly Base Rent for the first month of the Term or the last month of the Term. The Base Rent , as the case may be, based upon the ratio that the number of days of the Term within such month bears to the total number of days in such month. Tenant acknowledges that if there are more than 90 days of Tenant's Delay the Rent Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following may occur prior to the Commencement Date, and Tenant will be obligated to pay Rent from and after such Rent Commencement Date notwithstanding the Initial Base Rent shall be reset as of fact that the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would Premises will not yet have been calculated during the period beginning delivered to Tenant on the such Rent Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Commencing on the Rent Commencement Date with respect to each Portion of the Premises, Tenant shall commence paying with respect to such Portion of the Premises (and will thereafter continue to pay with respect to such Portion of the Premises through the Expiration Date applicable to such Portion of the Premises), without prior notice or demand, to Landlord at the address or pursuant to the wiring instructions set forth in Section 13 of the Summary, or, at Landlord’s option, during at such other address or wiring instructions as Landlord may from time to time designate in writing, by a check or wire transfer for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, the base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge the Summary with respect to be paid by Tenantsuch Portion of the Premises, payable in equal, consecutive equal monthly installments, installments in advance, without any abatement, deductions, reduction advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Lease Term with respect to the Tranche I Premises following the Rent Commencement Date for the Tranche I Premises shall be paid within ten ($ 10) (the “Initial Base Rent”).
(ii) Following the Commencement Datebusiness days after Tenant’s execution of this Lease. If any payment of Rent is for a period which is shorter than one month, the Initial Base Rent for any such fractional month shall be reset as of the earlier of (A) the first day of the accrue on a daily basis during such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to total an amount equal to the sum product of (1i) a fraction, the numerator of which is the number of days in such fractional month and the denominator of which is the actual number of days occurring in such calendar month, and (ii) the Initial then-applicable monthly installment of Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Sublease (Twilio Inc)
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord’s agent at the Rent Payment Address specified in Section 12 of the Summary, during or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term. The , without any setoff or deduction whatsoever, except as otherwise expressly provided in this Lease; provided, however, that upon Tenant’s execution and delivery of this Lease to Landlord, Tenant shall pay to Landlord the Prepaid Base Rent as set forth in Section 7 of the Commencement Date Summary, which amount shall be applied to the first monthly installment of Base Rent payable by Tenant pursuant to this Lease ($ ) (i.e., beginning on the “Initial Base Rent”).
(ii) Following the Rent Commencement Date, ). If any Rent payment date (including the Initial Base Rent shall be reset as Commencement Date) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, Lease Term on the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum basis of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during actual number of days in the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable month. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (KBS Real Estate Investment Trust II, Inc.)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the same basis. 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 ▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent for the first (1st) anniversary two (2) full calendar months of the Initial Rent Reset Date and on each anniversary thereafter during initial Lease Term. During such abatement periods, Tenant shall still be responsible for the Term 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 early termination pursuant to the provisions of Section 19.2 of this Lease, then as a part of the then-current recovery set forth in Section 19.2.1 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent will increase by an amount equal to abated under the CPI Rent Adjustment Amountprovisions of this Article 3.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord's agent at the Rent Payment Address specified in Section 12 of the Summary, during or, at Landlord's option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term. The , without any setoff or deduction whatsoever, except as otherwise expressly provided in this Lease; provided, however, that upon Tenant's execution and delivery of this Lease to Landlord, Tenant shall pay to Landlord the Prepaid Base Rent as set forth in Section 7 of the Commencement Date Summary, which amount shall be applied to the first monthly installment of Base Rent payable by Tenant pursuant to this Lease ($ ) (i.e., beginning on the “Initial Base Rent”).
(ii) Following the Rent Commencement Date, ). If any Rent payment date (including the Initial Base Rent shall be reset as Commencement Date) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, Lease Term on the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum basis of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during actual number of days in the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable month. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Netgear, Inc)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as Concurrently with Tenant's execution of the Commencement Date this Lease, Tenant shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset deliver to Landlord an amount equal to the sum of (1) the Initial Base Rent and payable by Tenant for the Premises for the fourth (24th) the aggregate sum full month of the CPI Rent Adjustment Amount Lease Term (as hereinafter definedi.e., Three Hundred Twenty-Seven Thousand One Hundred Fifty-Seven and 60/100 Dollars ($327,157.60)). If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for each lease year that would have been calculated during a period which is shorter than one month, then the period beginning rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the Commencement Date and ending on proportion that the Initial Rent Reset Date (including pro rata for any partial lease year during number of days in such period) had the Base Rent been increased annually by an amount equal fractional month bears to the CPI Rent Adjustment Amount on each anniversary number of days in the Commencement Date calendar month during which such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease yearsfractional month occurs. For the avoidance of doubt, the Initial Base Rent shall All other payments or adjustments required to be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the same basis. Notwithstanding anything to the contrary contained herein and so long as Tenant is not then in default under this Lease (beyond the expiration of all applicable notice and cure periods), Landlord hereby agrees to ▇▇▇▇▇ Tenant's obligation to pay one hundred percent (100%) of Tenant's monthly Base Rent for the first three (1st3) anniversary full months of the Initial Rent Reset Date and on each anniversary thereafter during initial Lease Term (the Term "Abated Rent"). During such abatement period, Tenant shall still be 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 early termination pursuant to the provisions of Article 19 of this Lease, then as a part of the thenrecovery set 879352.05/SD374622-current Base Rent will increase by an amount equal 00001/3-28-19/MLT/bp -5- GENESIS SSF - TWO TOWER PLACE[Fluidigm Corporation] forth in Article 19 of this Lease, Landlord shall be entitled to the CPI recovery of the unamortized portion of the Abated Rent Adjustment Amountthat was abated under the provisions of this Article 3.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (Fluidigm Corp)
Base Rent. (ia) Tenant shall pay the Base Rent to Landlord, during Landlord in accordance with the schedule set forth on the Basic Lease Information sheet and in the manner described below. Tenant shall pay the Base Rent for the THIRD (3rd) month of the Term upon execution of this Lease. Commencing with the first day of the FOURTH (4th) calendar month of the Term, an annual rent amount Tenant shall pay the Gross Rent (the “consisting of Base Rent”)Rent plus, exclusive when applicable in accordance with SECTION 3.04 below, Tenant's Proportionate Share of any other charge to be paid by Increased Basic Operating Cost and/or Tenant, payable 's Proportionate Share of Increased Property Taxes) in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction installments on or set-off whatsoever, on before the first day of each calendar month throughout during the Term and pro rata for any partial month during the Term. The Base Rent extensions or renewals thereof, in advance without demand and without any reduction, abatement, counterclaim or setoff, except as otherwise set forth in this Lease, in lawful money of the Commencement Date shall United States at Landlord's address specified on the Basic Lease Information sheet or at such other address as may be ($ ) (designated by Landlord in the “Initial Base Rent”)manner provided for giving notice under SECTION 9.11 hereof.
(iib) Following Notwithstanding any other provision of this Lease to the contrary, if the Term Commencement DateDate occurs on a day other than the first day of a month, then the Initial Base Rent provided for such partial month shall be reset as of prorated based upon a thirty (30)-day month and the earlier of (A) prorated installment shall be paid on the first day of the third (3rd) full calendar month after the Term Commencement Date together with the other amounts payable on that immediately follows day. If the Term terminates on other than the last day of a calendar month, then the Gross Rent provided for such partial month shall be prorated based upon a thirty (30)-day month and the prorated installment shall be paid on the first day of the calendar month in which Stabilization (as defined below) the date of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)termination occurs.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Commencing on the Rent Commencement Date, Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office for the Building, during the Termor at such other place as Landlord may from time to time designate in writing, an annual in cash or other immediately available good funds, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term in which Base Rent is payable hereunder, along with Landlord’s estimate of Tenant’s Share of Operating Expenses, Tax Expenses and Utilities Costs for the first full month of the Lease Term, shall be paid at the time of Tenant’s execution of this Lease and shall be applied to Rent first due hereunder. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Rent Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary same basis. Upon any Event of Default, Landlord shall be entitled to recover from Tenant the then unamortized portion of any Base Rent abated pursuant to Section 8 of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment AmountSummary.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (Invitae Corp)
Base Rent. (i) Tenant A. The Base Rent set forth in paragraph C on the cover page of this Lease shall be adjusted at the commencement of each Lease Year in accordance with any adjustment in the Consumer Price Index. The new Base Rent for each Lease Year shall be determined by multiplying the Base Rent for the immediately preceding Lease Year by a fraction, the numerator of which shall be the CPI published for the month of October in the Lease Year then ended, and the denominator of which shall be the CPI published for the month of October in the immediately preceding Lease Year. With respect to the first such adjustment, the initial Base Rent shall be multiplied by a fraction, the numerator of which shall be the CPI published for the month of October in the year of the commencement of this Lease, and the denominator of which shall be the CPI published for the month in which the Lease term commenced. In no event shall the Base Rent for any Lease Year be less than the Base Rent for the immediately preceding Lease Year.
B. Prior to the commencement of each such Lease Year, Lessor shall deliver to Lessee a statement setting forth the Annual Base Rent for the forthcoming Lease Year, the manner in which it was calculated and the monthly installment that the Lessee shall pay to Landlord, during the Term, an annual rent amount (Lessor pursuant to this Lease for such Lease Year.
C. If the “Base Rent”), exclusive of Lease term commencement date is on any day other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on than the first day of each calendar month throughout January, or if the Term and pro rata for Lease term expiration date is on any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) date other than the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier dateDecember, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to as adjusted for such year shall be prorated on the CPI Rent Adjustment Amount on each anniversary basis of the Commencement Date actual number of days of the Lease term during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)calendar year.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Throughout the Lease Term, Tenant shall pay Base Rent in the amount set forth above. Tenant promises to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge pay to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any abatementdemand, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent and Additional Rent on or before the first day of each calendar month throughout commencing on the Commencement Date. If the Lease Term commences or expires on a date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall be an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and pro rata multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided further that the Rent for any partial calendar month during at the Term. The Base Rent as commencement of the Commencement Date Initial Lease Term shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) payable on the first day of the first full calendar month that immediately follows during the month Lease Term. All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Base Rent, including without limitation assessments or common area maintenance charges due and payable to any applicable ownership associations, together with any interest, penalty, or other sum which Stabilization may be added for late payment thereof, shall constitute additional rent hereunder (as defined below) herein called “Additional Rent”). In the event of any failure on the part of Tenant to pay or discharge any of the Property occurs foregoing, Landlord shall have all rights, powers and remedies provided for herein (Bor by law or equity or otherwise) [Insert Fixed Date] (such earlier date, in the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum case of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:nonpayment of
Appears in 1 contract
Sources: Lease Agreement (Blue Rhino Corp)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in lawful money of the TermUnited States of America by ACH (Automated Clearing House) payment or wire transfer of funds, an annual base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advanceSection 8 of the Summary in advance on or before the first day of each and every month during the Lease Term, without any abatementsetoff or deduction whatsoever. Concurrently with ▇▇▇▇▇▇’s execution of this Lease, deductionsTenant shall deliver to Landlord the Base Rent payable by Tenant for the first (1st) full month of the Lease Term. If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, reduction or set-off whatsoever, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. If the Lease Commencement Date falls on the first day of each calendar month throughout a month, the Term and pro rata for any partial month during the Term. The Base Rent as of and Additional Rent delivered on the Commencement Effective Date shall be ($ ) (credited towards the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial first month’s Base Rent shall be reset and Additional Rent (as of defined in Article 4 below) payments. If the earlier of (A) Lease Commencement Date is not on the first day of a month, then, on the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Lease Commencement Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent Tenant shall be reset to an amount equal to the sum of (1) the Initial pay Base Rent and (2) Additional Rent for the aggregate sum period from the Lease Commencement Date through the last day of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date month, and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to and Additional Rent paid in advance on the CPI Effective Date shall be credited towards Base Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, and Additional Rent for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease yearssucceeding calendar month. For the avoidance of doubt, the Initial Base Rent shall All other payments or adjustments required to be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Base Rent. 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) Tenant shall pay by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to Landlordthe account of Landlord as provided to Tenant, during the Term, an annual base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever except as expressly provided in this Lease. The Base If any Rent as payment date (including the Rent Commencement Date) falls on a day of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current same basis. Base Rent will increase and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by an amount equal any law or regulation now or hereafter applicable to the CPI Rent Adjustment AmountPremises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay to Landlord, during Base Rent in the Term, an annual rent amount (the “set forth on Page 1 of this Lease. The first month’s Base Rent”), exclusive the Security Deposit, and the first monthly installment of any other charge estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to be paid by Tenant, payable in equal, consecutive monthly installments, pay to Landlord in advance, without any abatementdemand, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following succeeding the Commencement Date, the Initial . Payments of Base Rent for any fractional calendar month shall be reset as of the earlier of prorated. All payments (A) other than the first day monthly installment of Base Rent, Operating Expenses and the month that immediately follows the month Security Deposit) required to be made by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in which Stabilization writing) shall be made by Electronic Fund Transfer (as defined below“EFT”) of immediately available federal funds before 11:00 a.m., Pacific Time at such place, within the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”)continental United States, as follows: Landlord may from time to time designate to Tenant in writing. The Initial Base Rent shall be reset obligation of Tenant to an amount equal to the sum of (1) the Initial pay Base Rent and (2) other sums to Landlord and the aggregate sum obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of Operating Expenses beyond 5 days after the due date thereof, and after notice as provided below, Tenant shall pay to Landlord on demand a late charge equal to 8 percent of such delinquent sum. Tenant shall not be obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the CPI Rent Adjustment Amount delinquent payment (as hereinafter defined) for each lease year that would have been calculated which may be given at any time during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata delinquency); provided, however, that such notice shall not be required more than once in any 12-month period. The provision for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent late charge shall be fixed in addition to all of Landlord’s other rights and without adjustment until it is reset on the Initial Rent Reset Date, remedies hereunder or at law and shall not be construed as a penalty or as limiting Landlord’s remedies in accordance with the terms of this Section 3(a)(ii)any manner.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Lease Agreement (Supernova Partners Acquisition Co II, Ltd.)
Base Rent. (i) Tenant shall pay to Landlord, during 4.1 During the Term, an annual Subtenant agrees to pay Sublandlord as base rent amount (the “Base Rent”), exclusive ) for the Sublease Premises commencing on the Commencement Date the amounts set forth below. Months 1 and 2 Abated Months 3-12 $ 21,654.88 Months 13-18 $ 29,983.68 Months 19-Expiration Date $ 31,233.00
4.2 Each monthly installment of any other charge to Base Rent shall be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, advance on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term, without demand, notice or invoice. The Base Rent as of If the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) Term commences or ends on a day other than the first day of a calendar month, then the month that immediately follows rent for the month in which Stabilization this Sublease commences or ends shall be prorated in the proportion that the number of days this Sublease is in effect during such month bears to the total number of days in such month, and such partial month’s installment shall be paid no later than the commencement of the subject month. In addition to Base Rent, Subtenant agrees to pay as additional rent the amount of Additional Rent and other charges required to be paid by this Sublease. All rent (which shall include Base Rent, Additional Rent and other charges required to be paid by this Sublease or the Master Lease, including without limitation Operating Costs Share Rent, Tax Share Rent and all other costs, expenses, liabilities and amounts which Sublandlord, as defined belowtenant, is required to pay under the Master Lease) shall be paid to Sublandlord without any deduction, offset, counterclaim or abatement (except as specifically set forth in this Sublease), in lawful money of the United States of America, at Sublandlord’s address, or to such other person or at such other place as Sublandlord may from time to time designate in writing. Subtenant’s covenant to pay rent shall be independent of every other covenant in this Sublease.
4.3 On the condition that Subtenant does not default under this Sublease beyond any grace or cure period, Rent for months one (1) and two (2) will be abated, including Operating Costs Share Rent and Tax Share Rent. In the event of any such default by Subtenant, all such amounts (including a monthly Base Rent of $21,654.88) will become immediately due and payable.
4.4 The sum of $21,654.88 shall be payable by Subtenant to Sublandlord upon the mutual execution of this Sublease as the Base Rent for month three (3) of the Property occurs Term and as consideration for this Sublease.
4.5 If Subtenant fails to pay any installment of Base Rent, Additional Rent or other charges within five (B5) [Insert Fixed Date] days after the same are due, or fails to make any other payment for which Subtenant is obligated under this Sublease, then Subtenant shall pay to Sublandlord a late charge equal to five percent (such earlier date5%) of the amount so payable. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the “Initial exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment.
4.6 Sublandlord’s failure to prepare and deliver any statements or notice provided for in this Sublease, or Sublandlord’s failure to make a demand, shall not in any way cause Sublandlord to forfeit or surrender its rights to collect any items of Rent. Subtenant’s liability for such amounts shall survive expiration of the Term.
4.7 No payment by Subtenant or receipt and acceptance by Sublandlord of a lesser amount than the Sublease Base Rent Reset Date”), as follows: The Initial Base or Sublease Additional Rent shall be reset deemed to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum be other than part payment of the CPI full amount then due and payable; nor shall any endorsement or statement on any check or any letter accompanying any check, payment of Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during or other payment, be deemed an accord and satisfaction; and Sublandlord may accept, but is not obligated to accept, such part payment without prejudice to Sublandlord’s right to recover the period beginning on the Commencement Date balance due and ending on the Initial payable or to pursue any other remedy provided in this Sublease or by law. If Sublandlord shall at any time or times accept Rent Reset Date (including pro rata for any partial lease year during after it becomes due and payable, such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary acceptance shall not excuse a subsequent delay or constitute a waiver of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)Sublandlord’s rights hereunder.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Sublease (Bluearc Corp)
Base Rent. (i) Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction On or set-off whatsoever, on before the first day of each calendar month throughout of the Term and pro rata lease term, Lessee will pay to Lessor the Base Rent for any such month. Monthly rent for the initial partial month during of the Termlease term will be prorated. The All sums and other charges payable by Lessee to Lessor in this Commercial Lease Agreement will be deemed rent. Base Rent as of the Commencement Date and all other amounts required to be paid by Lessee will be paid without deduction or offset and without prior notice or demand. All such amounts shall be ($ ) (paid to Lessor at the “Initial address designated above, and will be treated as paid upon receipt by Lessor. Additional Rent. In addition to Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) Lessee will also pay on or before the first day of each month of the lease term the proportional share of operating expenses for the prior calendar month that immediately follows as reflected on monthly operating expense statements sent by Lessor to Lessee on or about the month in which Stabilization 10thday of each month. This additional rent will be calculated using the total operating expenses multiplied by the proportionate share of the building or project as identified above. Copies of the invoices underlying monthly operating expenses are available for review by the Lessee upon reasonable advance request at the office of Lessor during regular business hours. Late Charges and Returned Item Charges. If any sums payable by Lessee to Lessor is not received by Lessor on the date due, Lessee shall pay a late charge equal to the greater of (as defined belowa) [LATE CHARGE], or (b) 10% or the highest per annum rate of interest permitted under applicable Law (whichever is less) of the Property occurs and (B) then delinquent amount. A [Insert Fixed DateRETURNED CHECK CHARGE] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall handling fee will be reset paid to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) Lessor by ▇▇▇▇▇▇ for each lease year that would have been calculated during bank returned check. Lessor retains the period beginning on right, in the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually event of one or more instances of returned checks, to require Lessee to make all future payments to Lessor by wire or electronic transfer, cashier’s check or by an amount equal automatic payment from ▇▇▇▇▇▇’s bank account to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset DateLessor’s account, in accordance with the terms each case without cost to Lessor. The acceptance of this Section 3(a)(ii)late charges and returned check charges by ▇▇▇▇▇▇ does not act as a waiver of any rights or remedies of Lessor.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Commercial Lease Agreement
Base Rent. (i) Commencing on the Lease Commencement Date, Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord's agent at the management office of the Project, during or, at Landlord's option, at such other place as Landlord may from time to time designate in writing, at least thirty (30) days prior to the Termeffective date of the change in the rent payment address, an annual by notice to Tenant in accordance with the provisions of Article 28 of this Lease by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America or by Automated Clearing House (but only for so long as Landlord has agreed to accept payments by Automated Clearing House), base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever except as may be expressly set forth herein. The Base Rent as for the first full month of the Commencement Date Lease Term shall be paid at the time of Tenant's execution of this Lease. If any Rent payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month that immediately follows shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month in which Stabilization (as defined below) or to the end of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount Lease Term at a rate per day which is equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum 1/365 of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal applicable annual Rent. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Penumbra Inc)
Base Rent. (i) The first full month’s Base Rent shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any demand, abatement, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to the wire instructions provided by Landlord. Payments of Base Rent for any partial fractional calendar month during the Termshall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent (as of defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the Commencement Date contrary contained in this Lease, so long as Tenant is not then in Default (as defined in Section 20) under this Lease, Tenant shall not be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial required to pay Base Rent shall be reset as of with respect to the earlier of (A) Premises for the period commencing on the first day of the 2nd full calendar month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on after the Commencement Date and ending on through the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had last day of the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of 6th full calendar month after the Commencement Date during such period, with, for (the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years“Abatement Period”). For the avoidance of doubt, the Initial Tenant shall resume paying full Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary day of the Initial Rent Reset Date and on each anniversary thereafter during seventh full calendar month after the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment AmountCommencement Date.
(iv) As used herein:
Appears in 1 contract
Base Rent. Base Rent for the month in which the Commencement Date occurs (ior, if the Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the Commencement Date) and the Security Deposit shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. Base Rent for the month in which the 47 W▇▇▇▇▇▇ Premises Rent Commencement Date occurs (or, if the 47 W▇▇▇▇▇▇ Premises Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the 47 W▇▇▇▇▇▇ Premises Rent Commencement Date) shall be due and payable on the 47 W▇▇▇▇▇ Premises Commencement Date. Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any demand, abatement, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent on or before the first day of each calendar month throughout during the Term and pro rata for any partial month during the Term. The Base Rent as of hereof after the Commencement Date with respect to the 45 W▇▇▇▇▇▇ Premises and after the 47 W▇▇▇▇▇▇ Premises Rent Commencement Date with respect to the 47 Wiggins Premises, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to the wire instructions provided by Landlord. Payments of Base Rent for any fractional calendar month shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined belowin Section 5) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata due hereunder except for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall abatement as may be fixed and without adjustment until it is reset on the Initial Rent Reset Date, expressly provided in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without prior notice, demand, setoff or deduction, to Landlord or Landlord’s agent at the address set forth in Section 10 of the Summary, during or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 9 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advanceSection 9 of the Summary in advance on or before the first (1st) day of each and every calendar month during the Lease Term, without any abatement, deductionssetoff or deduction whatsoever. In accordance with Section 29.25, reduction this Article 3 shall be construed as though the covenants herein between Landlord and Tenant are independent and Tenant shall not be entitled to any setoff of the Rent or set-off whatsoever, other amounts owing to Landlord under this Article 3. The Base Rent for the first full month of the Lease Term which occurs after the expiration of any free rent period shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Commencement Date) falls on a day of the month other than the first day of each such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall be calculated on a daily basis for the period from the date such payment is due to the end of such calendar month throughout or to the Term and pro rata for any partial month during the Term. The Base Rent as end of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as Lease Term at a rate per day which is equal to 1/30th of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall applicable monthly Rent. All other payments or adjustments required to be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amountsame basis.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Building, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the same basis. 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 ▇▇▇▇▇ ▇▇▇▇▇▇’s obligation to pay monthly Base Rent for the first (1st) anniversary four (4) months of the Initial Rent Reset Date and on each anniversary thereafter during initial Lease Term. During such abatement periods, Tenant shall still be responsible for the Term 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 early termination pursuant to the provisions of Section 19.2 of this Lease, then as a part of the then-current recovery set forth in Section 19.2.1 of this Lease, Landlord shall be entitled to the recovery of the unamortized portion of the monthly Base Rent will increase by an amount equal to abated under the CPI Rent Adjustment Amountprovisions of this Article 3, with amortization calculated on a straight line basis utilizing a forty (40) month amortization schedule commencing as of the Lease Commencement Date.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Movano Inc.)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to LandlordLandlord at the address set forth in Section 3 of the Summary, during or at such other place as Landlord may from time to time designate in writing, in lawful money of the TermUnited States of America by ACH (Automated Clearing House) payment or wire transfer of funds or by check, an annual base rent amount (the “"Base Rent”), exclusive ") as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advanceSection 8 of the Summary in advance on or before the first day of each and every month during the Lease Term, without any abatement, deductions, reduction setoff or set-off deduction whatsoever, except as expressly provided in this Lease. Concurrently with Tenant's execution of this Lease, Tenant shall deliver to Landlord an amount equal to the Base Rent payable by Tenant for the Premises for the seventh (7th) full month of the Lease Term (i.e., $271,952.00). If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. If the Lease Commencement Date falls on the first day of each calendar month throughout a month, the Term and pro rata for any partial month during the Term. The Base Rent as of delivered on the Commencement Effective Date shall be ($ ) (credited towards the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial first month's Base Rent shall be reset (as of defined in Article 4 below) payments. If the earlier of (A) Lease Commencement Date is not on the first day of a month, then, on the month that immediately follows Lease Commencement Date, Tenant shall pay Base Rent for the month in which Stabilization (as defined below) period from the Lease Commencement Date through the last day of the Property occurs month, and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to paid in advance on the CPI Effective Date shall be credited towards Base Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease yearssucceeding calendar month. For the avoidance of doubt, the Initial Base Rent shall All other payments or adjustments required to be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(iiLease that require proration on a time basis shall be prorated on the same basis. Notwithstanding anything to the contrary contained herein and so long as no Event of Default exists under this Lease (beyond the expiration of all applicable notice and cure periods).
, Landlord hereby agrees to ▇▇▇▇▇ Tenant's obligation to pay one hundred percent (iii100%) Beginning on of Tenant's monthly Base Rent during the period which is the first (1st), second (2nd), third (3rd), fourth (4th), fifth (5th) anniversary and sixth (6th) full calendar months following the Lease Commencement Date (collectively the "Abated Rent"). During such abatement period, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the Initial Rent Reset Date and on each anniversary thereafter during event of a default by Tenant under the Term terms of this Lease that results in early termination pursuant to the provisions of Article 19 of this Lease, then as part of the then-current recovery set forth in Article 19 of this Lease, Landlord shall be entitled to the recovery of the unamortized amount of monthly Base Rent will increase by an amount equal to that was abated under the CPI Rent Adjustment Amountprovisions of this Article 3.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (Janux Therapeutics, Inc.)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord at the management office of the Building Complex, or, at Landlord’s option, during such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the ( “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full calendar month of the Commencement Date Lease Term which occurs after the expiration of any free rent period shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date) falls on a day of a calendar month other than the first day of such calendar month or if any Rent payment is for a period which is shorter than one calendar month (such as during the last month of the Lease Term), the Initial Rent for any fractional calendar month shall be the proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Provided Tenant is not in default under the terms of this Lease beyond any applicable cure periods, Landlord conditionally agrees that Tenant’s obligation to pay Base Rent shall be reset as abated during the second (2nd) and the third (3rd) full calendar months of the earlier of initial Lease Term (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier datecollectively, the “Initial Rent Reset DateAbatement Months”), as follows: . The Initial total amount of Base Rent shall be reset to an amount equal abated pursuant to the sum immediately preceding sentence is hereafter referred to collectively as the “Abated Rent”. During the Abatement Months, Tenant will still be responsible for the payment of (1) all other monetary obligations under this Lease. The Abated Rent shall only be granted provided Tenant is not in default under this Lease beyond any applicable notice and cure period. Tenant acknowledges that any default by Tenant under this Lease will cause Landlord to incur costs not contemplated hereunder, the Initial Base Rent exact amount of such costs being extremely difficult and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated impracticable to ascertain. Therefore, should Tenant at any time during the period beginning on the Commencement Date Lease Term be in default after having been given notice and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during opportunity to cure, and as a result of such period) had the Base Rent been increased annually by an amount equal uncured default Landlord elects to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of terminate this Lease, then the then-current Base total amount of such Abated Rent will increase so conditionally excused shall become immediately due and payable by an amount equal Tenant to Landlord and any remaining Abated Rent shall no longer be available to Tenant as a rent credit from the CPI Rent Adjustment Amountdate of such default. Tenant acknowledges and agrees that nothing in this subsection is intended to limit any other remedies available to Landlord at law or in equity under applicable law in the event Tenant defaults under this Lease beyond any applicable notice and cure period.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office for the Building, during the Termor at such other place as Landlord may from time to time designate in writing, an annual in cash or other immediately available good funds, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar and every month throughout starting on the Term Rent Commencement Date and pro rata for any partial month continuing during the remainder of the Lease Term, without any setoff or deduction whatsoever. The Base Rent as and Additional Rent for the first full month and partial month of the Commencement Date Lease Term in which Base Rent is payable hereunder shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Rent Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary same basis. Notwithstanding the preceding provisions of this Article 3 to the Initial Rent Reset Date and on each anniversary thereafter during the Term of contrary, provided that Tenant is not in default under this Lease, the then-current Base Rent will increase by an amount equal due for the last full calendar month of the Lease Term (the “Rent Abatement Period”) shall be fully abated (the “Abated Rent”). Tenant shall be required to pay Tenant’s Share of Operating Expenses, Tax Expenses, and Utilities Costs due pursuant to the CPI terms of this Lease during the Rent Adjustment AmountAbatement Period. Furthermore, if a material default beyond any notice and cure period by Tenant shall occur during the Rent Abatement Period, the Abated Rent shall be immediately due and payable.
(iv) As used herein:
Appears in 1 contract
Sources: Lease (Atlas Crest Investment Corp.)
Base Rent. (i) Tenant shall pay pay, without prior notice or demand, to Landlord or Landlord's agent at the management office of the Project, during or, at Landlord's option, at such other place as Landlord may from time to time designate in writing, by a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount ("BASE RENT") as set forth in Section 4 of the “Base Rent”), exclusive of any other charge to be paid by TenantSummary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Notwithstanding the foregoing, Tenant is excused from its obligation to pay any Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset attributable to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary month of the Initial Lease Term ("EARLY OCCUPANCY PERIOD"). Tenant shall still be responsible for the payment of Additional Rent, as that term is defined in Article 4 below, during such Early Occupancy Period. The Base Rent Reset Date and on each anniversary thereafter during for the first full month of the Lease Term which occurs after the expiration of the Early Occupancy Period shall be paid at the time of Tenant's execution of this LeaseLease along with the Estimated Building Direct Expenses and Project Direct Expenses for the first month of the Lease Tenn. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the then-current Base Rent will increase by an amount for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the CPI Rent Adjustment Amountapplicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (Gadzoox Networks Inc)
Base Rent. (i) As a component of Rent, Tenant shall pay to Landlord, during Base Rent for leasing the TermLeased Premises, an annual rent in the amount set forth below, without offset or deduction (the “Base Rent”). The first payment of Base Rent shall be due on the Commencement Date (“Rent Commencement Date”). April 1, exclusive 2017 to March 31, 2018 Zero Dollars (0.00) per month. If Tenant terminates this Agreement prior to March 31, 2018, Landlord shall retain the Security Deposit as Base Rent. April 1, 2018 to March 31, 2020 Five Hundred Ninety One Dollars and Fifty Cents ($591.50) per month April 1, 2020 to March 31, 2021 Market value of any other charge the Leased Premises as determined by Landlord’s City Manager as of April 1, 2020, but no less than Eight Hundred Eighty-Seven Dollars and Twenty-Five Cents ($887.25) per month April 1, 2021 to March 31, 2022 Market value of the Leased Premises as determined by Landlord’s City Manager as of April 1, 2021, but no less than Eight Hundred Eighty-Seven Dollars and Twenty-Five Cents ($887.25) per month If the Rent Commencement Date is not on the first (1st) day of a calendar month, then Tenant shall pay to Landlord, on or before the Rent Commencement Date, Tenant’s pro rata share of the Base Rent for that partial month pro-rated on the basis of a thirty (30) day month. Subsequent monthly Base Rent payments shall be paid by Tenant, due and payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the first day of each calendar month throughout following the Term and pro rata for any partial month during the Term. The first Base Rent as payment. Payment of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset made to Landlord at its address stated herein or to such other persons or place as Landlord may from time to time designate in writing. Acceptance of a payment which is less than the earlier amount then due shall not be a waiver of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal Landlord’s rights to the sum balance of (1) the Initial such Rent, regardless of Landlord’s endorsement of any check so stating. Payments will be applied first to accrued late charges and attorney’s fees, second to other outstanding charges or costs, and any remaining amount to Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)Rent.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Lease Agreement
Base Rent. (i) Commencing on the Lease Commencement Date, Tenant shall pay to Landlordpay, during the Termwithout prior notice or demand, an annual base rent amount (the “Base Rent”), exclusive ) as set forth in Section 4 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 4 of the Summary in advance on or set-off whatsoever, on before the first day of each and every calendar month throughout the Term and pro rata for any partial month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term shall be paid at the time of ▇▇▇▇▇▇’s execution of this Lease. If any Rent payment date ($ including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Until notice of some other designation is given to Tenant in accordance with the provisions of Article 28 of this Lease, Base Rent and all other charges shall be paid by remittance to or for the order of Four Embarcadero Center Venture by one of the following methods:
(i) Via the “Initial Base Rent”VersaPay ARC, BXP on-line Tenant Portal for which an invite will be sent to Tenant from the VersaPay ARC platform from the email address ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (please contact Landlord at ▇▇▇▇▇▇@▇▇▇.▇▇▇ with any inquiries respecting VersaPay).. or
(ii) Following the Commencement DateBy ACH Transfer & Direct Deposit Bank of America ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month Concourse Level #1499 San Francisco, California 94101 ABA# ▇▇▇-▇▇▇-▇▇▇ Account: Boston Properties L.P. Operating Account Account Number: 14993-06215 Amount: [fill in which Stabilization (as defined below) of the Property occurs appropriate dollar amount] Reference: Tenant Name: [Fill in Tenant Name and (B) [Insert Fixed DateTenant Number] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).or
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this LeaseBy Mail Boston Properties Limited Partnership P.O. Box 742841 Los Angeles, the thenCalifornia 90074-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.2841 or
(iv) As used herein:By Overnight Delivery Bank of America Lock Box Services Lockbox LAC-742841 ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Los Angeles, California 90065.
Appears in 1 contract
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (i) including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request that are not included in Basic Costs), all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any be in addition to all other charge payments required to be paid to Landlord by TenantTenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in equal, consecutive advance in monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, installments on the first day of each calendar month throughout during the Lease Term and pro rata for any partial month during the Term. The extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent as of and Additional Rent to Landlord without demand. If the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month that immediately follows or months shall be prorated, based on the month number of days in which Stabilization (as defined below) such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Property occurs earliest Rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and (B) [Insert Fixed Date] (satisfaction, and Landlord may accept such earlier date, check or payment without prejudice to Landlord’s right to recover the “Initial balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent Reset Date”), as follows: The Initial Base on a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be reset independent of every other covenant set forth in this Lease.
B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to an amount equal to the sum pay any installment of (1) the Initial Base Rent and (2) the aggregate sum Additional Rent or any other item of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date when due and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount payable hereunder, a Late Charge equal to the CPI five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord.
C. The Additional Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent payable hereunder shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, adjusted from time-to-time in accordance with the terms provisions of this Section 3(a)(ii)Exhibit C attached hereto and incorporated herein for all purposes.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease Agreement (VirtualArmour International Inc.)
Base Rent. (ia) Tenant shall pay the Base Rent to LandlordLandlord in accordance with the Basic Lease Information sheet and in the manner described below. Tenant shall pay the Base Rent for the first month Base Rent is payable for the Expansion Premises upon execution of this Lease. Commencing after the thirtieth (30th) day after the Term Commencement Date for the Expansion Premises, during Tenant shall pay the TermNet Rent (consisting of Base Rent plus, an annual rent amount (the “Base Rent”)when applicable in accordance with Section 3.04 below, exclusive Tenant's Proportionate Share of any other charge to be paid by Tenant, payable Basic Operating Cost) in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction installments on or set-off whatsoever, on before the first day of each calendar month throughout during the Term and pro rata for any partial month during the Term. The Base Rent as extensions or renewals thereof, in advance without demand and without any reduction, abatement, counterclaim or setoff, in lawful money of the Commencement Date shall United States at Landlord's address specified on the Basic Lease Information sheet or at such other address as may be ($ ) (designated by Landlord in the “Initial Base Rent”)manner provided for giving notice under Section 9.11 hereof.
(iib) Following If the Commencement DateTerm commences on other than the first day of a month, then the Initial Base Rent provided for such partial month shall be reset as of prorated based upon a thirty (30)-day month and the earlier of (A) prorated installment shall be paid on the first day of the calendar month next succeeding the Term Commencement Date together with the other amounts payable on that immediately follows day. If the Term terminates on other than the last day of a calendar month, then the Net Rent provided for such partial month shall be prorated based upon a thirty (30)-day month and the prorated installment shall be paid on the first day of the calendar month in which Stabilization (as defined below) the date of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)termination occurs.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. (i) Tenant Base Rent for the Suite 2600 and 2700 Expansion Space shall pay to Landlordbe calculated separate and apart from the Base Rent payable for the Original Premises, the 28th Floor Expansion Space, the Second Amendment Expansion Space, the 34th Floor Expansion Space and the 35th Floor Expansion Space during the Suite 2600 and 2700 Lease Term, an annual rent amount . Effective as of the Rent Commencement Date (as defined and qualified in Sections 7(b) and 10 of the “Base Rent”Work Letter), exclusive of Base Rent for the Suite 2600 and 2700 Expansion Space shall be as set forth in the following schedule: Months/PeriodCommencing on theRent Commencement Date Annual Base Rent MonthlyInstallmentsof Base Rent AnnualRental Rate perRentable Square Foot 73 until theLease Termination Date $1,052,180.25 $87,681.69 $42.99 *Gross Base Rent shall be prorated for any other charge partial month in which the Rent Commencement Date occurs. Notwithstanding the foregoing, Landlord hereby agrees to be paid by ▇▇▇▇▇ in full Tenant, payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, 's obligation to pay the Base Rent and Direct Expenses due during the second (2nd) through eighth (8th) full calendar months starting on the first day of each calendar the first full month throughout following the Term Rent Commencement Date (the "Abatement Months") (such amount of abated Base Rent and pro rata Direct Expenses being hereinafter collectively referred to as the "Abated Amount"). During such Abatement Months, Tenant will still be responsible for any partial month during the Termpayment of all other monetary obligations due under the Amended Lease. The Base anticipated Rent as of the Commencement Date of May 1, 2015 shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of extended one (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) day for each lease year that would have been calculated during day Tenant is actually delayed in designing, permitting and constructing its Tenant Improvements in, and moving into, Suite 2600 and Suite 2700 because of Landlord Delays or Force Majeure Events as set forth in Exhibit B but not beyond the period beginning on date Tenant commences business operations from Suite 2600 and Suite 2700 but in no event will the Rent Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such periodoccur earlier than May 1, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii)2015.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Sources: Office/Retail Lease (KBS Real Estate Investment Trust II, Inc.)
Base Rent. (i) Tenant shall pay pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Project, during or at such other place as Landlord may from time to time designate in writing, in currency or a check for currency which, at the Termtime of payment, an annual is legal tender for private or public debts in the United States of America, base rent amount (the “Base Rent”), exclusive ) as set forth in Section 8 of any other charge to be paid by Tenantthe Summary, payable in equal, consecutive equal monthly installments, installments as set forth in advance, without any abatement, deductions, reduction Section 8 of the Summary in advance on or set-off whatsoever, on before the first day of each calendar month throughout the Term and pro rata for any partial every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent as for the first full month of the Commencement Date Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date ($ ) (including the “Initial Base Rent”).
(ii) Following the Lease Commencement Date, the Initial Base Rent shall be reset as ) falls on a day of the earlier of (A) month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an a proportionate amount equal of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the sum number of (1) days in the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated calendar month during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during which such period) had the Base Rent been increased annually by an amount equal fractional month occurs. All other payments or adjustments required to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with made under the terms of this Section 3(a)(ii).
(iii) Beginning Lease that require proration on a time basis shall be prorated on the first (1st) anniversary same basis. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the Initial Rent Reset Date terms and on each anniversary thereafter during the Term conditions of this Lease, the then-current Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay Tenant’s monthly Base Rent will increase for the second (2nd) and third (3rd) full months of the initial Lease Term. During such abatement period, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a default by an amount equal Tenant under the terms of this Lease that results in early termination pursuant to the CPI provisions of Article 19 of this Lease, then as a part of the recovery set forth in Article 19 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent Adjustment Amountthat was abated under the provisions of this Article 3.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease (1st Pacific Bancorp)
Base Rent. (i) 4.1 During each Lease Year of the Lease Term, Tenant shall pay to Landlordthe Base Rent as shown on Addendum I, during the Term, an annual rent amount (the “attached hereto. The Base Rent”), exclusive of any other charge to Rent shall be paid by Tenant, due and payable in equal, consecutive monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, on the Lease Commencement Date and on the first day of each calendar month throughout the Term and pro rata for any partial month thereafter during the Termeach Lease Year. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) On the first day of the month that immediately follows second Lease Year and on the month in which Stabilization (as defined below) first day of every Lease year thereafter during the Property occurs and (B) [Insert Fixed Date] (such earlier dateLease Term, the “Initial Base Rent Reset Date”)shall be adjusted, on account of increases in the cost of living and in lieu of Tenant’s obligation to pay increases in operating charges (but not real estate taxes) with respect to the Building, as follows: The Initial the Base Rent in effect as of the last day of the immediately preceding Lease Year shall be reset increased by the product of (a) the Base Rent Annual Escalation Percentage (as defined in Section 1.1), multiplied by (b) the Base Rent so then in effect. Each adjusted rental shall remain in effect until the next adjustment pursuant to this Section. Concurrently with Tenant’s execution of this Lease, Tenant shall pay an amount equal to the sum of one (1) the Initial Base Rent and (2) the aggregate sum monthly installment of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to payable for the CPI Rent Adjustment Amount on each anniversary first full calendar month of the Lease Term. If the Lease Commencement Date during such periodis a day other than the first day of a month, with, for then the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent from the Lease Commencement Date until the first day of the following month shall be fixed prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the monthly installment of Base Rent payable during the first Lease Year, and without adjustment until it is reset Tenant shall pay such prorated installment of Base Rent in advance on the Initial Rent Reset Lease Commencement Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of 4.2 All sums payable by Tenant under this Lease, the then-current whether or not stated to be Base Rent will increase by an Rent, additional Rent, or otherwise, shall be paid to Landlord, without notice or demand and without deduction, counterclaim or set off of any amount equal of for any reason whatsoever, to the CPI Rent Adjustment AmountLandlord at c/o Blake Construction Co., Inc., ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.
(iv) As used herein:▇., ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇.▇.
Appears in 1 contract
Sources: Lease Agreement (Mega Group Inc)
Base Rent. (i) During the initial Term of this Lease, Tenant shall hereby agrees to pay to LandlordLandlord base annual rental (as specified, during the Term, an annual rent amount (the “"Base Rent”)") at the rate of $21.45 per square foot of Rentable Area in the Premises, exclusive subject to annual adjustment beginning with the first anniversary of the Commencement Date, in the manner provided in Section 2.4 and subject to any other charge adjustments based on Additional Allowance if granted to Tenant in accordance with Exhibit B. If Tenant elects to extend the Term of this Lease to one hundred eighty (180) months as provided in Section 2.1.3 above, then the initial Base Rent shall be paid $20.80 per square foot of Rentable Area in the Premises subject to annual adjustment beginning with the first anniversary of the Commencement Date as provided in Section 2.4 and subject to any adjustments based on Additional Allowance, if granted to Tenant in accordance with Exhibit B. Any overpayment of Base Rent based upon Tenant's election to so extend shall be refunded by Landlord within sixty (60) days of receipt of Tenant's election notice. The Base Rent, and any Additional Rent then in effect shall be due and payable in equal, consecutive twelve (12) equal monthly installments, in advance, without any abatement, deductions, reduction or set-off whatsoever, installments on the first day of each calendar month throughout the Term and pro rata for any partial month during the Term. The Base Except as elsewhere provided in this Lease, Tenant agrees to pay Rent as of to Landlord monthly in advance without demand, reduction, abatement, counterclaim or setoff at Landlord's designated address. If the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the Rent for such month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent or months shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, prorated in accordance with the terms actual number of this Section 3(a)(ii)days in the relevant month and the installment or installments so prorated shall be paid in advance.
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:
Appears in 1 contract
Base Rent. As part of the consideration for the execution of this Lease Agreement, Tenant covenants and agrees and promises to pay as Base Rent a total sum as provided below payable to Landlord in monthly installments in legal tender of the United States of America (i) Tenant shall pay to Landlord, during the Term, an annual rent amount (the “Base Rent”which may be made via ACH transfer), exclusive of any other charge to be paid by Tenant, payable in equal, consecutive monthly installments, in advance, without any abatementdemand and without deduction, deductions, reduction or set-off whatsoever, or counterclaim on the first day of each calendar month throughout during the Term and pro rata for any partial month during the Termhereof. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Such Base Rent shall be reset subject to adjustments as provided herein. Notwithstanding the fact that no Base Rent is due for the first three (3) months of the earlier Temporary Term and the first three (3) months of the Long Term, Tenant is obligated to pay for utilities and all Additional Rent (Aas defined hereinbelow) during such periods. Temporary Term Months 1- 3 $0.00 Thereafter until the Commencement Date $11.75 Long Term Months 1-3 $0.00 Months 4- 15 $11.75 Months 16- 27 $12.25 Months 28- 39 $12.75 Months 40- 51 $13.25 Months 52- 63 $13.75
A. In addition to the Base Rent and the Additional Rent to be paid by Tenant pursuant to Section 6 below, Tenant agrees to pay to Landlord as additional rent all reasonable charges for any services, goods or materials furnished by Landlord at Tenant's request, which are not required to be furnished by Landlord under this Lease Agreement, as well as other sums payable hereunder by Tenant. Base Rent as well as all charges pursuant to this section and hereunder are payable in advance and without demand, deduction or set off on the first day of each calendar month during the term. If the Term begins on a day that is other not the first day of the month that immediately follows the month in which Stabilization (as defined below) month, Tenant shall be required to pay only a pro rata portion of the Property occurs monthly installment for the first partial month of the Term for which rent is payable hereunder.
B. Subject to the applicable notice and cure provisions of this Lease Agreement, all past due installments which are more than five (B5) [Insert Fixed Date] days overdue shall bear interest at the rate of twelve percent (such earlier date12%) per annum or the highest lawful rate, whichever is less (the “Initial Rent Reset Date”"Default Rate"), as follows: The Initial Base Rent from the sixth (6th) day following 3 of 51 the due date until paid. Landlord, at its option, shall be reset have the right to an amount equal to the sum of collect from Tenant, five cents (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined$0.05) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial dollar ($1.00) of each installment of Rent Reset Date which is not received within fifteen) (including pro rata 15) days after its due date for any partial lease year during such period) had the Base Rent been increased annually by an amount equal reason whatsoever (subject to the CPI Rent Adjustment Amount notice and cure requirements hereunder, if any) and Tenant agrees to pay such amount immediately on each anniversary demand as liquidating damages to cover the additional cost of collecting and processing such late payments. Any payment which is less than the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubtamount due shall constitute a payment made on account thereof, the Initial Base Rent parties hereto agreeing that the Landlord 's acceptance of that payment shall not alter or impair the Landlord's rights under this Lease to be fixed and without adjustment until it is reset on paid all of such amounts then due, or in other respect. Tenant acknowledges that the Initial Rent Reset Date, in accordance with the terms late payment by Tenant to Landlord of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the then-current Base Rent exact amount of which will increase be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by an amount equal to reason of the CPI Rent Adjustment Amountlate payment by Tenant.
C. If the rentable area of the Leased Premises is modified for any reason, the provisions of this Lease Agreement which are contingent upon the size of the Leased Premises (ivincluding without limitation, Base Rental, Additional Rent, Security Deposit, Tenant's pro rata share, and number of unreserved parking spaces) As used herein:shall be automatically adjusted to reflect the modification of the rentable area of the Leased Premises, effective as of the date of the determination made. If the rentable area of the Building is modified for any reason, the provisions of this Lease Agreement which are contingent upon the size of the Building (including, without limitation, Tenant 's pro rata share) shall automatically be adjusted to reflect the modification of the rentable area of the Building, effective as of the date of the determination. The parties shall memorialize all such adjustments in an amendment to this Lease Agreement as soon as reasonably possible thereafter.
Appears in 1 contract
Sources: Lease Agreement (Soliton, Inc.)
Base Rent. (i) Throughout the Lease Term, Tenant shall pay Base Rent in the amount set forth above. Tenant promises to Landlord, during the Term, an annual rent amount (the “Base Rent”), exclusive of any other charge pay to be paid by Tenant, payable in equal, consecutive monthly installments, Landlord in advance, without any abatementdemand, deductions, reduction deduction or set-off whatsoeveroff, monthly installments of Base Rent and Additional Rent on or before the first day of each calendar month throughout commencing on the Commencement Date. If the Lease Term commences or expires on a date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall be an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and pro rata multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided further that the Rent for any partial calendar month during at the Term. The Base Rent as commencement of the Commencement Date Initial Lease Term shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) payable on the first day of the first full calendar month that immediately follows during the month Lease Term. All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Base Rent, including without limitation assessments or common area maintenance charges due and payable to any applicable ownership associations, together with any interest, penalty, or other sum which Stabilization may be added for late payment thereof, shall constitute additional rent hereunder (as defined below) herein called "Additional Rent"). In the event of any failure on the part of Tenant to pay or discharge any of the Property occurs foregoing, Landlord shall have all rights, powers and remedies provided for herein (Bor by law or equity or otherwise) [Insert Fixed Date] (such earlier date, in the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum case of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, in accordance with the terms of this Section 3(a)(ii).
(iii) Beginning on the first (1st) anniversary of the Initial Rent Reset Date and on each anniversary thereafter during the Term of this Lease, the then-current Base Rent will increase by an amount equal to the CPI Rent Adjustment Amount.
(iv) As used herein:nonpayment of
Appears in 1 contract
Sources: Lease (Blue Rhino Corp)
Base Rent. (i) During the period commencing as of the Effective Date and continuing through the day prior to the Expansion Space Commencement Date (the “Interim Period”), Tenant shall continue to pay the Base Rent for the Original Premises (the "Original Premises Base Rent") in accordance with the terms and conditions of the Lease.
(ii) Notwithstanding anything in the Lease to the contrary, commencing as of the Expansion Space Commencement Date, Tenant shall pay to Landlord, with respect to the entire Premises during the New Term, an annual rent amount (Base Rent in the “amounts stipulated below: WDC 91102651v11 Tenant shall pay such Base Rent”), exclusive of any other charge to be paid by Tenant, payable Rent in equal, consecutive equal monthly installments, installments in advance, without any abatementsetoff, deductionsdeduction or demand, reduction or set-off whatsoevercommencing as of the Expansion Space Commencement Date, and on the first day of each calendar month throughout thereafter during the New Term and pro rata for any partial month during the Term. The Base Rent as of the Commencement Date shall be ($ ) (the “Initial Base Rent”).
(ii) Following the Commencement Date, the Initial Base Rent shall be reset as of the earlier of (A) the first day of the month that immediately follows the month in which Stabilization (as defined below) of the Property occurs and (B) [Insert Fixed Date] (such earlier date, the “Initial Rent Reset Date”), as follows: The Initial Base Rent shall be reset to an amount equal to the sum of (1) the Initial Base Rent and (2) the aggregate sum of the CPI Rent Adjustment Amount (as hereinafter defined) for each lease year that would have been calculated during the period beginning on the Commencement Date and ending on the Initial Rent Reset Date (including pro rata for any partial lease year during such period) had the Base Rent been increased annually by an amount equal to the CPI Rent Adjustment Amount on each anniversary of the Commencement Date during such period, with, for the avoidance of doubt, each such CPI Rent Adjustment Amount compounded over the prior lease years. For the avoidance of doubt, the Initial Base Rent shall be fixed and without adjustment until it is reset on the Initial Rent Reset Date, otherwise in accordance with the terms of the Lease (as amended hereby). If the Expansion Space Commencement Date is a day other than the first day of a month, then the Base Rent for such partial month shall be prorated on a per diem basis of the monthly installment of Base Rent payable during the Lease Year within which such partial month falls, with the per diem rate calculated with the numerator of one (1) and the denominator as the number of days in the month in which such Expansion Space Commencement Date occurs (which such proration shall be done with respect to the portion of the month occurring on or after the Expansion Space Commencement Date, and with respect to the portion of the month occurring prior to the Expansion Space Commencement Date, Tenant shall pay Base Rent with respect to the Original Premises in accordance with the terms of the Lease). For clarity, from and after the Expansion Space Commencement Date, Tenant’s obligation to pay the Original Premises Base Rent in accordance with the Lease shall be replaced and superseded by the obligation to pay Base Rent with respect to the entire Premises as set forth in this Section 3(a)(ii4(a)(ii).
(iii) Beginning on . No rental abatement or rental concession whatsoever shall apply with respect to the first (1st) anniversary of Original Premises or the Initial Rent Reset Date and on each anniversary thereafter Expansion Space during the New Term of this Leaseexcept as expressly set forth in Section 3(b)(ii) above (if applicable), or Section 4(c) below. Tenant is and shall remain liable for any and all sums due and payable under the then-current Base Rent will increase by an amount equal to Lease (as amended hereby) through the CPI Rent Adjustment AmountRevised Expiration Date.
(iv) As used herein:
Appears in 1 contract
Sources: Office Lease Agreement (IMARA Inc.)