Third Floor Premises. Notwithstanding anything to the contrary contained in the Lease, commencing on June 1, 2011, Monthly Base Rent for the Third Floor Premises shall be payable pursuant to the following table: Time Period Monthly Base Rent 6/1/11 — 3/31/12 $55,759.20 per month 4/1/12 — 3/31/13 $58,746.30 per month 4/1/13 — 3/31/14 $60,508.69 per month 4/1/14 — 3/31/15 $62,323.95 per month 4/1/15 — 3/31/16 $64,193.69 per month 4/1/16 — 3/31/17 $66,119.50 per month 4/1/17 — 3/31/18 $68,103.08 per month 4/1/18 — 3/31/19 $70,146.17 per month 4/1/19 — 3/31/20 $72,250.56 per month 4/1/20 — 5/31/20 $74,418.08 per month
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Third Floor Premises. The entire third floor of Building Four constituting 45,771 rentable square feet.
Third Floor Premises. Notwithstanding anything herein to the contrary, Tenant acknowledges that it is currently occupying the Third Floor Premises and is leasing the Third Floor Premises in its as-in condition.
Third Floor Premises. The term of the Lease with respect to the Third Floor Premises (the “Third Floor Premises Term”) shall be extended for a period of three (3) years and three (3) months and shall commence on May 1, 2020, and expire on July 31, 2023 (the “Third Floor Premises Expiration Date”).
Third Floor Premises. In addition to the “Base Rent” (as defined in the Lease) with respect to the Remainder Premises, commencing on May 1, 2020 (the “Third Floor Premises Rent Commencement Date”), Tenant covenants and agrees to pay Landlord Base Rent with respect to the Third Floor Premises (the “Third Floor Premises Base Rent”) as follows: Period Third Floor Premises Base Rent Monthly Installments of Third Floor Premises Base Rent Rent Per Rentable Square Foot 5/1/20 – 4/30/21 $263,358.96 $21,946.58 $41.50 5/1/21 – 4/30/22 $270,593.40 $22,549.45 $42.64 5/1/22 – 4/30/23 $278,018.28 $23,168.19 $43.81 5/1/23 – 7/30/23 $285,663.78(annualized) $23,805.32 $45.01 Provided Tenant is not in Default (as defined in the Original Lease), commencing on the Third Floor Premises Rent Commencement Date, Landlord agrees to xxxxx the first three (3) full monthly installments of Third Floor Premises Base Rent that are payable under this Amendment (i.e., equal to a total abatement of $65,839.74).
Third Floor Premises. In addition to paying Tenant’s “Pro Rata Share” (as defined in the Lease) of increases in “Expenses” (as defined in the Lease) and “Taxes” (as defined in the Lease) with respect to the Remainder Premises, commencing on January 1, 2021, and continuing throughout the Third Floor Premises Term, Tenant shall pay its “Third Floor Premises Pro Rata Share” (as defined below) of increases in Expenses over the Expenses for the “Third Floor Premises Base Year” (as defined below) [subject to the Controllable Expenses Cap (as defined in Section 5.03.D. of the Original Lease)] and increases in Taxes over the Taxes for the Third Floor Premises Base Year in accordance with the Lease (as amended by this Amendment). As used herein, (a) “Tenant’s Third Floor Premises Pro Rata Share” shall mean 2.46% (i.e., based on a Total Rentable Area of the Building of 257,824 rentable square feet), and (b) the “Third Floor Premises Base Year” for Expenses and Taxes shall mean calendar year 2020. Expenses for the Third Floor Premises Base Year shall be grossed-up, as provided in Section 5.03.C. of the Original Lease, to reflect a ninety-five percent (95%) occupancy rate for the Building. Taxes for the Third Floor Premises Base Year shall reflect actual Taxes assessed or imposed upon the Property or Landlord, as applicable, during the Third Floor Premises Base Year.
Third Floor Premises. Tenant is aware that the third (3rd) floor is currently occupied (as of February 1, 1996) and Landlord is diligently pursuing the vacating of this tenant. Tenant is aware that certain inventory located within the 3rd floor premises is Landlords personal property. A list of inventoried items to be made a part of this Lease. Tenant is responsible for the maintenance, repairs and replacement (if necessary) of Landlords personal property. Tenant shall carry insurance covering the cost of replacement, repair and maintenance. Tenant has the option but is not obligated to select certain Landlord personal property items that is usable to Tenant for Tenant use or accept all personal property for Tenant use. Tenant may at Tenants option purchase a11 or a portion of the personal property items. In no event shall this acceptance or denial of personal property change any rights under Article 11 Section 3.
Third Floor Premises. Tenant agrees to pay rent for the 3rd floor at Eight Thousand Seven Hundred Fifty Dollars and no/100ths ($8750.00) per month commencing on Landlords delivery of possession of premises to Tenant. Tenant shall deposit as first month rent with Landlord upon execution of this Addendum the sum of Eight Thousand Seven Hundred Fifty Dollars ($8750.00). Landlord agrees to assist Tenant as necessary, in Tenants approval process with the City of Newport Beach and the Alcoholic Beverage Control Agency (ABC). Landlord and Tenant agree that if at the end of a @)O period, commencing on possession date, if Tenant is not approved for the licenses and permits to operate as a nightclub, Tenant has the option of terminating the lease and receiving all rent money paid to date allowing the lease to continue (3rd floor only). If Tenant was the cause of the denial of permits or licenses, then rent monies received by Landlord during the 90 day period will not be returned to Tenant and lease shall stay in force. With the exception of the above all of the terms covenants, and conditions of the Lease dated February 1, 1996 shall apply to this addendum. LANDLORD TENANT Lido Marina Village Xxxxxxx Xxxxxxxx and Xxxx Xxxxxxx (as individuals) and TravelMax International, Inc. /s/ Xxxx Xxxxxxx ---------------- Travelmax International, Inc. Date: -------------- /s/ Xxxxxxx Xxxxxxxx -------------------- Xxxxxxx Xxxxxxxx, an individual Date: --------------------- /s/ Xxxx Xxxxxxx ---------------- Xxxx Xxxxxxx, an individual Date: ---------------------- ATTACHMENT #1 TO LEASE
Third Floor Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, Suite No. 300 in the Building containing 28,550 rentable square feet (the "THIRD FLOOR PREMISES") on the terms and conditions of the Lease, as modified hereby. From and after the Third Floor Commencement Date and throughout the remainder of the Term, (a) the term "PREMISES", as used in the Lease, shall refer collectively to the Existing Premises, the Sixth Floor Premises, and the Third Floor Premises, except as herein otherwise provided, and (b) Tenant's Proportionate Share shall be increased to 80.2311%, which is the percentage obtained by dividing the rentable square feet in the Premises (241,372) by the number of rentable square feet in the Building (300,846).
