RENT CONCESSION Sample Clauses
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RENT CONCESSION. Anything contained in this Article to the contrary notwithstanding, provided that this Lease has not been terminated on account of an Event of Default, Landlord hereby waives payment of Annual Fixed Rent for the period (the “Rent Concession Period”) from and including the Access Date through and including the date preceding the date which is fifteen (15) months after the Access Date (the “Rent Commencement Date”). If the Rent Concession Period shall expire on a date other than the last day of a calendar month, then on the Rent Commencement Date, Tenant shall pay to Landlord a monthly installment of Annual Fixed Rent prorated to the end of said calendar month. Landlord shall use commercially reasonable efforts to cause the Base Building Delivery Date to occur on or prior to September 1, 2017. If Tenant has occupied and is operating the Premises for the conduct of its business and (1) the Base Building Delivery Date does not occur on or before December 1, 2017 (the “First BB Penalty Date”), which date shall be extended by reason of Tenant Delay or Force Majeure (but not by more than sixty (60) days on account of Force Majeure), the Rent Concession Period shall be increased by one (1) additional day for each day after the First BB Penalty Date (as the same may have been so extended) that the Base Building Delivery Date does not occur, (2) if such failure continues for sixty (60) days after the First BB Penalty Date (the “Second BB Penalty Date”), which date shall be extended by reason of Tenant Delay, then, from and after such Second BB Penalty Date (as the same may have been so extended), the Rent Concession Period shall be extended by an additional (0.5) day (i.e., 1.5 days in total) until the Base Building Delivery Date occurs, and (3) if such failure continues for sixty (60) days after the Second BB Penalty Date (the “Final BB Date”), which date shall be extended by reason of Tenant Delay, then, from and after such Final BB Date (as the same may have been so extended), the Rent Concession Period shall be extended by an additional (0.5) day (i.e., 2 days in total) until the Base Building Delivery Date occurs. The foregoing shall be Tenant’s sole and exclusive remedy on account of the failure of the Base Building Delivery Date to occur. The foregoing is intended to be “an express provision to the contrary” under Section 223-a of the New York Real Property Law or any successor statute of similar import.
RENT CONCESSION. Provided Tenant is not in default under the terms, covenants and conditions of this Lease, beyond the expiration of any applicable notice and cure periods, Landlord has agreed to defer commencement of Tenant’s obligation to pay Base Rent until the Rent Commencement Date. Landlord’s deferring Tenant’s obligation to pay Base Rent as set forth in this Section is the “Base Rent Allowance.” Except for the Base Rent Allowance as herein provided, Tenant shall use and occupy the Leased Premises pursuant to all of the other terms, covenants and conditions of this Lease, including the payment of all electricity charges in accordance with Article 9 of this Lease, and Base Year Operating Expenses in accordance with Section 5.5 of this Lease. It is understood and agreed that the Base Rent Allowance is given by Landlord in consideration of Tenant’s paying when due all rents under this Lease, and otherwise complying with the terms hereof, and that in the event of any default by Tenant beyond the expiration of any applicable notice and cure periods under this Lease which results in the early termination hereof, the sum of: (i) the Base Rent Allowance given pursuant to this paragraph, to the extent same accrued prior to Tenant’s default, at the rate of $18.00 per rentable square foot on account of the entire Leased Premises, as if Tenant was given possession of the entire Leased Premises as of the Commencement Date, and (ii) any fee, commission or other compensation paid by Landlord to any broker or finder, in connection with this Lease, and (iii) any work allowance or reimbursement paid to or on behalf of Tenant, shall be totaled and divided by 186, with the resulting sum multiplied by the number of months, or parts of months, remaining on the Term at the time of the default, and that sum shall become immediately due and payable to Landlord as Additional Rent under this Lease. To the extent any months in which Tenant would otherwise be entitled to the Base Rent Allowance have not yet occurred upon the date on which any applicable notice and cure periods with respect to Tenant’s default expire, Tenant shall not be entitled to the portion of the Base Rent Allowance for such months, and Base Rent shall be payable at the rate of $18.00 per rentable square foot on account of the entire Leased Premises for such months, in the same manner Base Rent would be payable upon the expiration of the Base Rent Allowance.
RENT CONCESSION. Tenant shall receive a rent concession totaling three months Base Rent as follows: the first month's rental due under this lease shall be waived. Beginning with the second month of the lease term and for 23 months thereafter, Tenant's Base Rent shall be reduced by $1,583.33.
RENT CONCESSION. Provided Lessee is not in default and notwithstanding anything contained herein to the contrary, Lessee shall be entitled to a Term Fixed Basic Rent abatement in the amount of Eight Thousand Seven Hundred Eighty-Seven and 51/100 ($8,787.51) Dollars per month, or a proportionate part thereof in the event the Lease commences on a day other than the first day of the month, up to an aggregate total amount of Thirty-Five Thousand One Hundred Fifty and 05/100 ($35,150.05) Dollars, said concession to be applied against the installments of Monthly Fixed Basic Rent due pursuant to this Lease for the first (1st) through fourth (4th) months of the Term (herein “Concession Period”). The entire Fixed Basic Rent otherwise due and payable during the Concession Period shall become immediately due and payable to the Lessor upon the occurrence of an event of default under the Lease.
RENT CONCESSION. Notwithstanding the foregoing or any other provision of this Lease to the contrary during the first eight (8) calendar months of the Lease Term, Tenant shall be obligated to pay only one-half (1/2) of the Base Rent and one-half (1/2) of any Additional Rent due and payable by Tenant hereunder; provided, however, if Tenant defaults under this Lease, then Landlord shall have the right to seek, as part of damages, sums equal to the amounts of Base Rent and Additional Rent abated hereunder.
RENT CONCESSION. LESSEE shall receive a rent concession valued at $21,481.60 to be applied as a rent credit of $5,370.40 for months two (2), three (3), four (4) and five (5) of the initial LEASE term only.
RENT CONCESSION. Anything contained in this Article to the contrary notwithstanding, provided that this Lease shall not have been terminated on account of an Event of Default, Landlord hereby waives payment of Annual Fixed Rent solely for the Initial Premises with respect to the period from and including the Commencement Date through and including the date immediately preceding the Rent Commencement Date.
RENT CONCESSION. Landlord agrees to give Tenant two months free rent, only, if Tenant is in good standing and without arrears for the months of March, 2002, September, 2002.
RENT CONCESSION. (a) Subject to clause 20.3, the Lessor acknowledges that the Lessee is entitled to the Rent Concession and will take that Rent Concession by paying the Reduced Rent for the first 12 months with effect from the Commencement Date but subject to the rent free period referred to in clause 20.3.
(b) The Lessee must continue to pay the Cleaning Charge and any other amounts payable under this Lease during the first 12 months.
RENT CONCESSION. The LESSEE shall receive a rental credit equal to $18,850.00, which shall be applied to January 1997 rent only.