Rent Deferment Clause Samples
Rent Deferment. Landlord and Tenant hereby amend the Lease to provide for the deferment of Base Rent and Additional Rent for the period from January 1, 2020, through March 31, 2020 ("Deferment Period"). Percentage Rent shall be otherwise due and payable as provided in the Lease beginning March 1, 2020, but shall be calculated as if Tenant had paid all Base Rent and Additional Rent when due during the Deferment Period. Notwithstanding any other provision of the Lease or this Amendment, Tenant shall fully comply with all reporting obligations under Section 4.08 of the Lease.
Rent Deferment. It is understood and agreed that through the date of this Amendment, Tenant owes Landlord the sum of $40,784.21 in past due Basic Rent and other charges. Landlord currently holds a credit in the amount of $5,636.00 for previously paid Operating Expenses. The credit shall be applied to Tenant’s currently outstanding obligation, and the remaining balance of Tenant’s outstanding obligation shall be $35,148.21 (“Outstanding Obligation”). In addition and subject to the provisions below, Landlord agrees that it shall, during the period commencing May 1, 2010 and ending June 30, 2010 (the “Seventh Amendment Deferral Period”), accept the following partial payments of Basic Rent (which shall be due and payable on the first day of each calendar month): Months of Term or Period Monthly Basic Rent The cumulative amount of unpaid Basic Rent during the Seventh Amendment Deferral Period, together with the Outstanding Obligation, shall be referred to herein as the “Seventh Amendment Deferred Rent.” Tenant acknowledges that should Tenant make the partial payments of Basic Rent as provided above, the aggregate amount of Seventh Amendment Deferred Rent that shall be owing to Landlord at the end of the Seventh Amendment Deferral Period will be $124,294.00.