RENTAL CREDIT. [describe any free rent or rent credit].
RENTAL CREDIT. Provided the Tenant has furnished Landlord with the Security Deposit and provided Tenant is not in default of its obligations under the terms of the Lease at the relevant time, Landlord shall grant to Tenant a rental credit in a maximum amount of Two Hundred Thirty-One Thousand Three Hundred Eighty-Two Dollars and Fifty-Nine Cents ($231,382.59) plus G.S.T. and P.S.T. (the “Rental Credit”), which Rental Credit shall be granted in ten (10) equal instalments of Twenty-Three Thousand One Hundred Thirty-Eight Dollars and Twenty-Six Cents ($23,138.26), each instalment to be applied against the Tenant’s Basic Rent and Tenant’s Proportionate Share of Operating Costs and Taxes payable for the months of October 2014, November 2014, December 2014, January 2015, October 2015, November 2015, December 2015, January 2016, February 2016 and October 2016, until such Rental Credit is fully used up. Any amount of monthly rental which is not fully compensated by the Rental Credit remains payable by the Tenant in accordance with the provisions of the Lease.
RENTAL CREDIT. As an inducement to and as consideration for Tenant's execution of this Lease Agreement Tenant shall be granted use and occupancy of the Premises for the first two (2) months of the Lease Term without having to pay Base Rent therefor. Notwithstanding this rental credit, the CPI adjustment to Base Rent shall be without regard to the rental credit and shall be made as if full Base Rent was paid.
RENTAL CREDIT. To the extent that Tenant’s costs and damages pursuant to Section 40.2 above exceed Landlord’s share of the delay damages from Landlord’s Contractor (as specified in Section 40.3 above and after crediting Tenant as provided in Section 5.3), then Tenant shall be entitled to pursue all available remedies against Landlord to collect such excess costs and damages (together with interest on such sums at the rate of Bank of America’s “reference rate” plus 3% per annum), including, without limitation, the right to make a credit offset against the next rent payment(s) owing on this Lease to the extent of such sums owing to Tenant. Prior to exercising such offset right, Tenant shall first attempt to satisfy Landlord’s obligation to compensate Tenant under this Section 40 through the sums to be received pursuant to Section 40.3 and any remaining loan proceeds available from the New Loan.
RENTAL CREDIT. The parties acknowledge that pursuant to the terms of a certain side letter dated May 6, 1990 between Landlord and Tenant, Landlord is required to pay to Tenant on or before the "Commencement Date" as defined in the Lease the amount of Two Hundred Fifty Thousand Dollars ($250,000) (herein referred to as the "Moving Allowance"). Further, pursuant to the terms of a certain Settlement Agreement, Mutual Release and Termination of Lease dated May 30, 1990 between JOHN X. xxx SUSAX X. XXXXXXX 0009 REVOCABLE TRUST and JOHN X. XXXXXXX xxxividually, on the one hand, and Tenant, on the other hand, the sum of Seventy Thousand Five Hundred Eleven and 10/100 Dollars ($70,511.10) is to be credited to the monthly rent due under the Lease (herein referred to as the "Rent Credit") . The total amount of the Moving Allowance and the Rent Credit (herein collectively referred to as the "Credit") is Three Hundred Twenty Thousand Five Hundred Eleven and l0/l00 Dollars ($320,511.10).
RENTAL CREDIT. Provided that Lessee is not then currently in default, Lessor agrees that Lessee may deduct from each month's rent which is paid on or before the 10th day of each calendar month the sum of $500.00 per month for the months of November, 1997 through March 1998 only.
RENTAL CREDIT. Landlord shall contribute one million twenty-five thousand dollars ($1,025,000) towards the construction of the new space occupied by the Tenant; payable to Tenant in ten (10) installments of one hundred two thousand five hundred dollars ($102,500) on the first (1st) business day of each calendar year of the Initial Term of the Lease.
RENTAL CREDIT. Landlord hereby grants Tenant a rental credit in the amount of EIGHT THOUSAND SEVEN HUNDRED SIXTY-NINE AND 96/100 DOLLARS ($8,769.96). Said rental credit may be used by Tenant at anytime after Tenant takes occupancy of the Expansion Space. With the exception of the modifications set out above, all other terms, covenants and agreements of the Lease shall remain in full force and effect. LANDLORD TENANT ALEXANDER PROPERTIES COMPANY, SILICON GRAPHICS, INC., A CALIFORNIA PARTNERSHIP A DELAWARE CORPORATION By:__________________________ By:______________________________ Title:_______________________ Title:___________________________ Date:________________________ Date:____________________________ Regarding: Xxxxxx Ranch 8, Building Q 0000 Xxxxxxxxx Xxxxxxx, Xxxxx 000 Xxx Xxxxx, XX 00000 FIRST LEASE ADDENDUM THIS FIRST LEASE ADDENDUM IS MADE AND ENTERED INTO THIS 15TH DAY OF JANUARY, 1993, BY AND BETWEEN ALEXANDER PROPERTIES COMPANY, A CALIFORNIA PARTNERSHIP (HEREINAFTER REFERRED TO AS "LANDLORD") AND SILICON GRAPHICS, INC., A DELAWARE CORPORATION (HEREINAFTER REFERRED TO AS "TENANT"). IT IS AGREED BETWEEN LANDLORD AND TENANT TO MODIFY THE LEASE DATED MARCH 13, 1991, (HEREINAFTER REFERRED TO AS "LEASE"). THE MODIFICATIONS UNDER THIS ADDENDUM, EFFECTIVE JANUARY 1, 1993, ARE AS FOLLOWS:
RENTAL CREDIT. Tenant shall be granted a Rental Credit in the amount of TWO THOUSAND FORTY ONE AND 66/100 DOLLARS ($2,041.66), which Rental Credit shall be applied towards Tenant's Rent next due and payable under the Lease.
RENTAL CREDIT. In the event that Suite 605 is not delivered to Tenant on the Suite 601 Commencement Date, Landlord shall grant Tenant a rent credit in the amount of $30,000, to be used against Basic Rental payable by Tenant for Suite 601, as same becomes due, until such rent credit is extinguished.
