Common use of First Five Years Clause in Contracts

First Five Years. During the first sixty (60) full calendar months of the Main Term, Tenant shall pay annual Base Rent in the amount of $10.00 times the ground-floor gross leasable square footage contained in the Building (as measured from the exterior boundary of exterior building walls) (the "Initial Base Rent"), payable in equal monthly installments. In determining the ground-floor gross leasable square footage of the Building, the parties agree that the figure shall be as set forth in Tenant's approved Plans and Specifications. If any Lease Year is other than twelve (12) months in length, annual Base Rent during such Lease Year shall be the product of the applicable monthly Base Rent times the number of months in such Lease Year, with appropriate proration for any partial calendar month therein.

Appears in 2 contracts

Sources: Lease (Basic Us Reit Inc), Lease (Basic Us Reit Inc)