Contraction Fee Sample Clauses

Contraction Fee. Tenant shall pay Landlord a fee (the “Contraction Fee”) equal to the unamortized amount of the tenant improvement allowance, brokers’ commissions and legal fees paid by Landlord in connection with the Contraction Space amortized over the scheduled portion of the initial Term of this Lease with respect to the Contraction Space, utilizing a 7% per annum interest rate. The Contraction Fee shall be paid on or before the Contraction Date. Notwithstanding the foregoing, Tenant may elect to instead pay the Contraction Fee to Landlord as additional rent over the balance of the initial Term, by written notice to Landlord prior to the Contraction Date. If Tenant so elects to pay the Contraction Fee over the balance of the initial Term, the amount of the Contraction Fee will be amortized on a straight-line basis over the period commencing on the Contraction Date and expiring on the Expiration Date (not including any extension of that date pursuant to the First Extension Option (as hereinafter defined)), with interest on the principal balance from time to time outstanding at seven percent (7%) per annum, compounded, and shall be paid by Tenant in equal monthly installments at the same time and in the same manner as Monthly Base Rent. Upon the early termination of the Term for any reason, the entire unpaid principal balance of the Contraction Fee and all accrued and unpaid interest thereon shall immediately become due and payable. Upon Tenant’s written request at any time, Landlord shall promptly thereafter notify Tenant of the Contraction Fee for any applicable Contraction Space (including showing Landlord’s calculation of such amount(s)), provided all components for determination of such fee are then known.

Contraction Fee. As used in this Fifth Amendment, the "Contraction Fee" shall be equal to the sum of (A) the total amount of Base Rent and estimated Tenant's Share of Operating Costs that Tenant would have been obligated to pay for the Contraction Space, if the Premises had not been contracted, during the initial three (3) full calendar months following the Contraction Date and (B) the Unamortized Costs, reduced proportionately (based on the ratio of (a) the rentable square feet of the Contraction Space as the numerator, and (b) the rentable square feet of the entire Premises as the denominator) to reflect that the Contraction Space is less than the entire Premises.

Contraction Fee. Tenant's notice of contraction must be accompanied by Tenant's good bank check or other payment acceptable to Landlord in an amount equal to the aggregate of (i) three monthly payments of Minimum Rent for the portion of the Premises with respect to which Tenant is terminating this Lease (pro rated on a per Rentable Square Foot basis) (which sum shall not be credited to Minimum Rent owing under this Lease), plus (ii) three monthly payments on account of Tenant's Tax Share and Tenant's Expense Share in the amounts Tenant is then paying as additional rent for the portion of the Premises with respect to which Tenant is terminating this Lease (pro rated on a per Rentable Square Foot basis) (which payments shall not be credited to Tenant's Tax Share or Tenant's Expense Share), plus

Contraction Fee. The Tenant is obligated to pay to the Landlord the sum of One Hundred and Twelve Thousand, Four Hundred and Seventy Four and 08/100 Dollars ($112,474.08), which is the Contraction Fee due and computed in accordance with Article IV C of the Second Amendment. The Contraction Fee is due and payable to the Landlord ten (10) days after the Effective Date.