Abated Rent definition

Abated Rent is defined in Section 15.2(g).
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Abated Rent means the total amount of Base Rent abated by Landlord during the Abatement Periods pursuant to the foregoing provisions of this Section 5.1. During the Abatement Periods, Tenant shall remain responsible for the payment of all of its other monetary obligations under this Lease. In the event of an Event of Default by Tenant under the terms of this Lease that results in the early termination of this Lease pursuant to the provisions of Article 24 below, then as a part of the recovery set forth in Article 24 below, Landlord shall be entitled to the recovery of the unamortized portion of the Abated Rent. For purposes of this Section 5.1, Abated Rent shall be amortized on a straight-line basis over the scheduled one hundred thirty (130) month initial Term of this Lease, and the unamortized portion thereof shall be determined based upon the unexpired portion of such initial Term of this Lease as of the date of such early termination.
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Abated Rent shall have the meaning as set forth in Section 5.1.2.
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Examples of Abated Rent in a sentence

  • If Tenant defaults and does not cure within any applicable grace period, the Abated Rent shall immediately become due and payable in full and this Lease shall be enforced as if there were no such rent abatement or other rent concession.

  • In such case Abated Rent shall be calculated based on the full initial rent payable under this Lease.

  • Tenant acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Tenant's full, faithful and punctual performance of its obligations under this Lease.

  • If this Lease provides for a postponement of any monthly rental payments, a period of "free" rent or other rent concession, such postponed rent or "free" rent is called the "Abated Rent".

  • Tenant acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Tenant’s full, faithful and punctual performance of its obligations under this Lease.

  • In such case, Abated Rent shall be calculated based on the full initial rent payable under this Lease.

  • Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if Tenant has fully, faithfully, and punctually performed all of Tenant's obligations hereunder, including the payment of all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease.

  • Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if Tenant has fully, faithfully, and punctually performed all of Tenant’s obligations hereunder, including the payment of all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease.

  • Lessee acknowledges that its right to receive credit for the Abated Rent is absolutely conditioned upon Lessee's full, faithful and punctual performance of its obligations under this Lease.

  • Tenant shall be credited with having paid all of the Abated Rent on the expiration of the Lease Term only if Xxxxxx has fully, faithfully, and punctually performed all of Tenant's obligations hereunder, including the payment of all rent (other than the Abated Rent) and all other monetary obligations and the surrender of the Property in the physical condition required by this Lease.


More Definitions of Abated Rent

Abated Rent means base rent for which tenants have received abatement credit, but only to the extent that such abatement credit is consistent with the criteria set forth on Schedule 1.1.1.
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Abated Rent. If a monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs at any time during the Term, then (i) at Landlord’s option, all then-unamortized portions of the Abated Rent (assuming amortization of Abated Rent on a straight-line basis over the Term) previously credited to Tenant shall become due and payable to Landlord; and (ii) if the monetary or material non-monetary Event of Default (i.e., a default beyond any applicable notice and cure period) occurs prior to the expiration of an Abatement Period, then, from and after the occurrence of such Event of Default, there shall be no further abatement of Base Rent pursuant to this Section 4(b) unless and until Tenant cures such Event of Default and Landlord accepts such cure in lieu of exercising its remedies under Section 18(a) or Section 18(b) of this Lease (in which event, the Rent Abatement Period will not be suspended or extended as a result thereof, but Tenant shall be entitled to any remaining portion of the originally scheduled Abatement Period as of the date Tenant cures such Event of Default and Landlord accepts the same). No such recapture by Landlord of Abated Rent pursuant to clause (i) above shall constitute a waiver of any Event of Default of Tenant or any election of remedies by Landlord. For the avoidance of doubt, all Rent other than the Phase I Base Rent remains payable during the Phase I Premises Abatement Period and is not subject to abatement, and all Rent other than the Phase II Premises Base Rent remains payable during the Phase II Premises Abatement Period and is not subject to abatement.
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Abated Rent. ________________________________________ Commencement Date: ________________________________________ Rent Start Date: ________________________________________ Operating Expense Start Date: ________________________________________ Expiration Date: ________________________________________ Renewals: ________________________________________ Except as specified in Section(s) ______________________ of the Lease (copy attached), we have no option or right to cancel the Lease or to lease additional space in the Premises or the Property. We have made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent, partial rent, rebate of rental payments or any other similar rent concession except as specifically set forth above. We are not entitled to any credit against any rent or other charge under the Lease except as set forth in the Lease. No rental payments have been made more than one month in advance.
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Abated Rent. Minimum Rent, in the amount of Three Hundred Thousand ($300,000) per Lease Year, shall be abated for a period of two (2) years. Such abatement shall be applied against Tenant’s monthly minimum rent obligation at the rate of $25,000.00 per month so that Tenant shall only be obligated to pay monthly minimum rent at the rate of $15,000.00 per month for the first two (2) years.
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Abated Rent is defined in Section 15.2(g). “ADA” is defined in Section 11.1. “Additional Rent” is defined in Section 5.3. “Alterations” is as defined in Section 9.3.
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Abated Rent is defined in Section 16.2(g).
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Related to Abated Rent

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Base Rent $ 25,024 per month ("Base Rent"), payable on the 1st day of each month commencing on the Commencement Date (Also see Paragraph 4.) [ ] If this box is checked, this Lease provides for the Base Rent to be adjusted per Addendum ___, attached hereto.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Additional Rent means all amounts, other than Basic Rent and any Security Deposit, required to be paid by the Tenant to the Landlord in accordance with this Agreement.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Minimum Rent means Fifty Million Thirty-Three Thousand Nine Hundred Seventy-Six and 00/100ths Dollars ($50,033,976.00), subject to adjustment as provided in Section 3.1.1(b).

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Additional Rental has the meaning set forth in Section 4.03.

  • Annual Rent means the annual fixed rent to be paid to the Lessor by the Lessee under Section 5 of this Lease.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $32.50 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per SqFt First Floor Per SqFt Drive Thru TotalPer Annum TotalPer Month 1 $ 32.50 $ 7.50 $ 151,512.00 $ 12,626.00

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Additional Rent(s) means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Interim Rent means the pro-rata portion of Rent due for the period from the Commencement Date through but not including the first day of the first full Rent Interval included in the Initial Term.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Room Rent Means the amount charged by a hospital for the occupancy of a bed on per day (24 hours) basis and shall include associated medical expenses.