Rent Credit. Subject to the terms of this Section 10.3, if (I) (i) Landlord fails to perform Landlord’s covenants hereunder, (ii) Landlord interrupts or curtails the level of service provided by Building Systems as contemplated by Section 10.2 hereof, or (iii) Landlord performs repairs, alterations, improvements, additions or restorations in the Building, and (II) Tenant, by reason of the event described in clause (I) above, is unable for at least fifteen (15) consecutive Business Days to operate Tenant’s business in the Premises (or a portion thereof) in substantially the same manner that Tenant conducted its business prior to such event, then Tenant shall be entitled to a credit to apply against the Fixed Rent thereafter coming due hereunder in an amount equal to the product obtained by multiplying (A) the quotient obtained by dividing (a) the sum of the Fixed Rent for the Premises, by (b) three hundred sixty-five (365) (or three hundred sixty-six (366) in a leap year), by (c) the number of square feet of Rentable Area in the Premises, by (B) the number of square feet of Rentable Area of the portion of the Premises which is unusable, as aforesaid, by (C) the number of days in the period commencing on (and including) the date immediately following the date that is fifteen (15) Business Days after the event that is described in clause (I) above and ending on the date that such portion of the Premises becomes usable. If (x) Tenant is entitled to a credit against Rental pursuant to this Section 10.3, and (y) the Expiration Date occurs prior to the date that such credit is exhausted, then Landlord shall pay to Tenant the unused portion of such credit on or prior to the thirtieth (30th) day after the Expiration Date (and Landlord’s obligation to make such payment shall survive the Expiration Date). This Section 10.3 shall not apply in respect of the occurrence of a fire or other casualty or in respect of a condemnation. This Section 10.3 shall not limit the provisions of Section 5.2 hereof.
Rent Credit. Landlord shall provide Tenant a total credit which Tenant may use against Rent of $754,320 in accordance with the terms of this paragraph 11.
Rent Credit. During the period (the “Rent Credit Period”) commencing on the first (1st) day of Lease Month 2 and ending on the last day of Lease Month 17, Tenant shall receive a credit each Lease Month in the amount of seventy-five percent (75%) of the Monthly Rent (the “Rent Credit”) on account of the Monthly Rent payable under this Lease for each such Lease Month; provided, however, that during Rent Credit Period, Tenant shall be required to pay the full Additional Rent owing under Paragraphs 7.a. and 7.b. hereof, the Parking Space Rental specified in Paragraph 53 below and the remaining portion of the Monthly Rent owing for such Lease Month (i.e., twenty-five percent (25%) of the Monthly Rent each Lease Month) during such period. Landlord and Tenant acknowledge that the aggregate amount of the Monthly Rent that will be abated during the Rent Credit Period equals $626,506 per month for Lease Months 2-12 and $645,301 per month for Lease Months 13-17 for a total amount of $10,118,068 during the Rent Credit Period. Tenant acknowledges and agrees that the foregoing Rent Credit has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Monthly Rent and perform the terms and conditions otherwise required under this Lease. Notwithstanding the foregoing, Tenant shall not be entitled to the Rent Credit during any period that an Event of Default is continuing hereunder.
Rent Credit. (a) Subject to Tenant Delay (as defined below) and Force Majeure, if Landlord shall have failed to substantially complete the Premises Base Building Work by December 15, 2001 (the “Premises Rent Credit Commencement Date”) and if such failure materially interferes with or prohibits Tenant from performing Tenant’s Work, or from obtaining any permits or approvals necessary for performing or completing Tenant’s Work, Tenant shall receive a credit equal to one (1) days’ worth of Basic Rent for each day beyond the Premises Rent Credit Commencement Date that substantial completion of the Premises Base Building Work is delayed. Subject to Tenant Delay and Force Majeure, if Landlord shall have failed to substantially complete the Premises Base Building Work by January 1, 2002 and if such failure materially interferes with or prohibits Tenant from performing Tenant’s Work, or from obtaining any permits or approvals necessary for performing or completing Tenant’s Work, Tenant shall receive a credit equal to two (2) days’ worth of Basic Rent for each day beyond January 1, 2002 that substantial completion of the Premises Base Building Work is delayed. For purposes of this Lease, “
Rent Credit. Notwithstanding anything to the contrary hereinabove set forth, provided this Lease is in full force and effect, and Tenant is not in default under this Lease beyond any applicable grace or cure period, Tenant shall be entitled to a credit against the Rent for the period from the Commencement Date to the Rent Commencement Date, as well as for the 16th, 17th, 18th, 28th, 40th, and 52nd months following the Rent Commencement Date.
Rent Credit. Notwithstanding anything to the contrary hereinabove set forth, provided this Lease is in full force and effect and Tenant is not in default under this Lease, Tenant shall be entitled to a credit against the Rent for (i) the three (3) month period commencing on the Commencement Date and ending on the day immediately preceding the Rent Commencement Date in the aggregate amount of $46,350.00, which credit shall be applied against the Rent in three (3) equal monthly installments of $15,450.00 each, and (ii) the three (3) month period commencing on the first (1st) anniversary of the Commencement Date and ending on the day immediately preceding the first (1st) anniversary of the Rent Commencement Date in the aggregate amount of $46,350.00, which credit shall be applied against the Rent in three (3) equal monthly installments of $15,450.00 each. The foregoing rent credits shall be null and void "ab initio" if Landlord at any time terminates this Lease or re-enters or repossesses the Premises on account of any default of Tenant under this Lease, and Landlord shall be entitled to recover from Tenant, in addition to all other amounts Landlord is entitled to recover, the aggregate amount of the rent credit herein provided for.
Rent Credit. If and so long as Tenant is not in default under the Lease beyond any grace period, Tenant shall be entitled to a rent credit in the amount of $2,149.33 to be applied to the first monthly installment of fixed annual rent (without electricity) due under this Lease; except that Tenant shall nevertheless be obligated, from and after the commencement date of the term, to pay any additional rents hereunder and to pay the ERIF portion of the fixed annual rent pursuant to Section 27.04 hereof. Anything contained herein to the contrary notwithstanding, if Tenant, at any time during the term of this Lease after Tenant has been granted all or a portion of the rent credit described in this Article, breaches any covenant, condition or provision of this Lease and fails to cure such breach within any applicable grace period, and provided that this Lease is terminated by Landlord because of such default, then, in addition to all other damages and remedies herein provided and to which Landlord may otherwise be entitled, Landlord shall also be entitled to the repayment of any rent credit theretofore enjoyed by Tenant, which sum shall be deemed additional rent hereunder and shall be due upon demand by Landlord. The obligation of Tenant to pay such additional rent (or damages) to Landlord shall survive the expiration or sooner termination of the term of this Lease.
Rent Credit. For the month of November 2009 only, Tenant shall receive a credit against the Base Monthly Rent in the amount of $120,557.20.
Rent Credit. Landlord will provide Tenant with a rent credit equal to one (1) monthly installment of the current Base Rent, which the parties agree is the amount of $4,936.46 (“Rent Credit”). The Rent Credit shall automatically be credited against the first full monthly installment of accruing Base Rent due and payable under the Lease.
Rent Credit. So long as no default exists or is continuing hereunder, Tenant shall be entitled to a credit against Basic Annual Rent an amount equal to Two Thousand Three Hundred Thirty-Five Dollars ($2,335.00) per month for each of the 120 calendar months after the Term Commencement Date.
