Aggregate Base Rent definition
Aggregate Base Rent for the Leased Premises for the Lease Term (exclusive of any renewals or extensions thereof, but subject to an adjustment of such amount if the Commencement Date shall be other than the first day of a calendar month as provided in Section 2.1 of this Lease) shall be Sixty Six Million Nine Hundred Sixty Thousand U.S. Dollars ($66,960,000.00). On or before the Rent Commencement Date, to the extent the actual measurement of the Building results in a measurement that is less than 183,000 rentable square feet the amount of the Aggregate Base Rent shall be proportionately reduced to account for the actual rentable square footage of the Leased Premises as determined in accordance with the last paragraph of Section 1.1 herein. Tenant shall pay to Landlord during the Lease Term Annual Base Rent in accordance with the above table, payable in equal monthly installments (also set forth in the table above), in advance, beginning on the Rent Commencement Date and continuing on the first (1st) day of each calendar month thereafter during the Lease Term; provided however, that the monthly installment of Annual Base Rent for the first full calendar month of the Lease Term shall be payable upon the execution of this Lease and Landlord shall credit such payment toward Tenant’s first monthly installment of Annual Base Rent payable hereunder. As used herein, the “Rent Commencement Date” is the later of (i) three (3) months following the Possession Date, or (ii) January 1, 2015; provided, however, that Tenant’s obligation to pay Rent as of the Rent Commencement Date shall at all times be subject to any abatement of Rent required by Section 1.2 herein. Promptly following the Commencement Date, Landlord and Tenant shall execute a letter documenting the Commencement Date, the Rent Commencement Date and certain other factual matters pertaining to this Lease in substantially the form attached hereto as Exhibit D. If the Rent Commencement Date shall be other than the first (1st) day of a calendar month, then the prorated monthly installment of Annual Base Rent for such partial calendar month shall be paid directly by Tenant from its other sources on the Rent Commencement Date and not from the monthly installment of Annual Base Rent referred to above. Except as expressly provided otherwise, Aggregate Base Rent, Annual Base Rent and the monthly installments of Annual Base Rent shall be collectively referred to as “Rent” throughout this Lease. Tenant acknowledges that Landlord does not ...
Examples of Aggregate Base Rent in a sentence
Aggregate Base Rent for the full ten year term of the Lease is $3,659,250.00.
Aggregate Base Rent for the full ten year term of the Lease is $4,138,590.00.
Beginning with the Lease Year commencing January 1, 2003, Lessee will pay Lessor, as Additional Rent, an amount equal to twenty-five percent (25%) of the amount by which EBITDA for the Remaining Facilities exceeds Three Hundred Thousand Dollars ($300,000) for each Lease Year during the Term; provided, however, that in no event will the aggregate amount of Additional Rent paid by Lessee to Lessor during the Term exceed the sum of the Aggregate Base Rent Reduction.