Conditional Abated Monthly Basic Rent Sample Clauses

Conditional Abated Monthly Basic Rent. There will be no Rent due for the period of time from the Commencement Date to the Rent Commencement Date. Tenant will be responsible for its utilities during that period. Provided that an Event of Default has not occurred. Tenant shall not be obligated to pay Monthly Basic Rent attributable to the Premises (the “Rent Abatement”) during the first three (3) full calendar months after the Rent Commencement Date (the “Rent Abatement Period”) and any prepaid Monthly Basic Rent shall be applicable after the expiration or earlier termination of 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 Rent and perform the terms and conditions otherwise required under this Lease. If an Event of Default of Basic Rent shall occur during the first five (5) years of the Term that is not corrected within a second notice period of ten (10) days written notice to Tenant after the notice given to make the default an Event of Default, then, in addition to any other remedies Landlord may have under this Lease, Tenant shall reimburse Landlord for any Rent Abatement received after the Rent Commencement Date. In addition to the foregoing, Tenant is hereby granted credits against Monthly Basic Rent in the amounts of (i) $146,431.56 (the “Office Credit”) and (ii) $500,000.00 (the “AWN Credit”) for a total credit of $646,431.56. The AWN Credit shall be applied against Monthly Basic Rent first due and payable following the Rent Abatement Period. The Office Credit shall be applied against Monthly Basic Rent payable after Tenant has obtained its first permit for the performance of the Tenant Improvements and Tenant has commenced and performed Tenant Improvements for at least thirty (30) days.