Rental Concession Clause Samples
POPULAR SAMPLE Copied 4 times
Rental Concession. Provided that there does not exist a Default under this Lease, Tenant shall be entitled to a conditional abatement of the Monthly Rental Installments which would otherwise be due with respect to the first (1st) eight (8) full calendar months of the initial year of the Lease Term (the “Rental Concession”) (although all such Monthly Rental Installments shall continue to accrue for such period). Notwithstanding the Rental Concession, Tenant shall be obligated to pay all other Rent (including, without limitation, any amounts payable as the Annual Rental Adjustment) due under this Lease for such period. Landlord and Tenant hereby acknowledge and agree that the Rental Concession is a concession in an amount equal to $1,181,405.84 in total and, if any Default occurs and continues beyond any applicable notice and cure periods set forth in this Lease: (a) the Rental Concession shall be canceled, the portion of the Rental Concession which has not been used by Tenant as of the date of the occurrence of such Default shall automatically terminate and become null and void, Tenant shall no longer be entitled to any rent concession or abatement of rent described in this Section, and Tenant shall thereafter pay all Monthly Rental Installments when due under this Lease, without regard to the Rental Concession provisions of this Lease; and (b) the unamortized amount of the portion of the Rental Concession which has been used by Tenant as of the date of the occurrence of such Default shall become immediately due and payable. For the purposes of clause (ii) of the preceding sentence, the unamortized portion of the Rental Concession which is used by Tenant will be calculated as if the portion of the Rental Concession used by Tenant is being amortized over the “Rental Concession Amortization Period” (as defined below) in equal monthly installments of principal and interest, together with interest at the rate of twelve percent (12%) per annum (or the maximum rate permitted by applicable law, whichever is less). The “Rental Concession Amortization Period” means the period commencing on the first (1st) day of the ninth (9th) full calendar month of the initial year of the Lease Term and continuing through the Expiration Date (based on the foregoing, the Rental Concession Amortization Period will consist of one hundred twenty (120) months). Notwithstanding anything contained herein to the contrary, in no event shall the Rental Concession apply to or be deemed to forgive or excuse pay...
Rental Concession. Landlord hereby grants to Tenant a one-time Rental Concession for the period of March 1, 2014 through April 30, 2014 in an amount equal to $1.45 per square foot per month of the Expansion Premises ($16,199.40 per month for a total of $32,398.80).
Rental Concession. Notwithstanding any provision to the contrary ----------------- contained herein, as a rental concession to Tenant, Landlord hereby permits Tenant to occupy the Leased Premises without the obligation to pay Base Rent during the months of October and November, 1991. Tenant shall, however, be responsible for the payment of all other amounts due hereunder during such months, including, without limitation, Tenant's pro rata share of Operating Expenses, Real Estate Taxes and Insurance. Such rental concession granted to Tenant shall be null and void ab initio if Tenant, at any time during the term -- ------ of this Lease, shall default under the provisions of this Lease, and in such event, Landlord, in addition to all other remedies of Landlord set forth in this Lease or at law or equity, shall be entitled to recover from Tenant, in addition to any other amounts to which Landlord may be entitled, an amount equal to such rental concession.
Rental Concession. The first (1st) month of the Lease Term shall be rent-free excepting utilities which shall be paid by the Lessee.
Rental Concession. (a) Employees who live and work in a remote locality and reside in agency supplied accommodation, are entitled to a rental concession.
(b) The applicable rental concession is set out in the table below Special Category 25% Category 1 100% Category 2 100% Category 3 100%
Rental Concession. Owner shall fully ▇▇▇▇▇ Tenant’s base rent for the month of May 2010 in the amount of $4,375.00.
Rental Concession. Lessee intends to make tenant improvements in excess of $25,000.00 most of these improvements have a general application and will add value to the building. In recognition of these improvements, Lessor shall grant four (4) months free rent. Rent to commence on January 1, 1995.
Rental Concession. The Tenant shall not be obligated to pay Minimum Rent or Operating Costs for a period equivalent to 6 months commencing on the expiry of the Premises Preparation Period and ending on the day before the Commencement Date.
Rental Concession. If Tenant was not obligated to pay Base Monthly Rent or Additional Rent for any period of time after the Commencement Date ("Rental Concession"), any such Rental Concession shall be canceled if Tenant is in Default at any time during the Term. In the event of such cancellation, Tenant shall be obligated to pay Base Monthly Rent and/or Additional Rent, as the case may be, as though there were no Rental Concession in the Lease, and Tenant shall promptly on demand refund to Landlord the amount of any Rental Concession already taken, without regard to whether this Lease is terminated by Landlord as a result of Tenant's Default.