Existing Premises During Applicable Term Clause Samples
The "Existing Premises During Applicable Term" clause defines the rights and obligations of the parties regarding the use or occupancy of premises that are already in existence during a specified contract period. Typically, this clause outlines whether the tenant or licensee may continue to use the current premises while a new agreement is in effect, or until a new space is ready for occupancy. It may also address issues such as rent, maintenance responsibilities, or transition procedures during this period. The core function of this clause is to ensure continuity and clarity in the use of property, preventing disputes or interruptions in occupancy during transitions between agreements or premises.
Existing Premises During Applicable Term. With respect to the Existing Premises during the Applicable Term, Tenant shall pay for Tenant’s Share of Expenses and Taxes in accordance with the terms of the Lease; provided, however, that, with respect to the Existing Premises during the Applicable Term, the Base Year for Expenses and Taxes shall be 2015.
Existing Premises During Applicable Term. With respect to the Existing Premises during the period beginning on April 1, 2015 and ending on the Modified Expiration Date (the “Applicable Term”), the schedule of Base Rent shall be as follows: Period of Applicable Term Annual Rate Per Square Foot (rounded to the nearest 100th of a dollar) Monthly Base Rent 4/1/15 — 3/31/16 $36.00 $29,148.00 4/1/16 — 3/31/17 $37.08 $30,022.44 4/1/17 — 3/31/18 $38.19 $30,921.17 All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.
Existing Premises During Applicable Term. With respect to the Existing Premises during the period commencing on the Expansion Effective Date and expiring on the Extended Expiration Date (the “Applicable Term”), and notwithstanding any contrary provision of Section 1.4 of the Lease (entitled, Base Rent) to the contrary with respect to any applicable portion of the Applicable Term, the schedule of Base Rent for the Existing Premises shall be as follows: Expansion Effective Date through last day of 12th full calendar month of Applicable Term $59.40 $179,774.10 All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease. Notwithstanding the foregoing, Base Rent for the Existing Premises shall be abated partially in the amount of $88,000.00 with respect to the 1st full calendar month of the Applicable Term and Tenant shall pay the balance thereof in accordance with the Base Rent table set forth above.