Base Rent Adjustment definition
Base Rent Adjustment means the increase in the annual Base Rent as set forth in Section 5.2. "ADDITIONAL RENT" shall mean the additional rent specified in Section 5.3.
Base Rent Adjustment. On each anniversary of the Commencement Date the Monthly Base Rent shall increase by three percent (3%) over the Monthly Base Rent applicable to the month immediately prior to the applicable anniversary. (Note: there is also an initial adjustment to Monthly Base Rent required by Paragraph 3(b)(i)). Tenant's Share of Expenses and Taxes ("Additional Charges"): 75.55% Security Deposit: See Paragraph 32.
Base Rent Adjustment has the meaning ascribed to it in Section 2.20(a).
Examples of Base Rent Adjustment in a sentence
For illustrative purposes, the chart below sets forth the incremental increases to Base Rent to account for the Additional Base Rent, subject to adjustment pursuant to this Section 7, to be phased in during the Additional Base Rent Adjustment Period, and the rent chart attached as Exhibit F to this Amendment sets forth the monthly aggregate Base Rent and Property Management Fee for the Term of the Lease, including the adjustments to Base Rent as set forth in the Lease.
Landlord shall, within one hundred twenty (120) days after the end of each Operating Period, furnish Tenant with a statement of the Operating Expenses during such year and a computation of the Base Rent Adjustment (“Expense Statement”).
The Base Rent Adjustment Amount payable during any Lease Year or portion thereof consisting of more or less than twelve (12) calendar months shall be prorated on a monthly basis such that the Base Rent Adjustment Amount that is included within the Base Rent for each calendar month is equal to the Base Rent Adjustment Amount divided by twelve (12).
Unless adjusted as a result of an audit by Tenant conducted pursuant to the express terms of this Lease, the Operating Expenses and Base Rent Adjustment set forth in the Expense Statement shall be binding upon Tenant.
The following example is included for illustration purposes regarding the calculation of the Base Rent Adjustment: if the Base Rent in effect prior to the Base Rent Adjustment is $30,000 per month and the positive percentage increase in the Consumer Price Index between Year 1 and Year 5 of the preceding 5 Year period is 5%, the Base Rent shall be adjusted as follows: $30,000 plus ($30,000 multiplied by 5% which equals $1500), such that the adjusted Base Rent shall be $31,500 for the next 5 Year period.
More Definitions of Base Rent Adjustment
Base Rent Adjustment. As defined in Section 3.3.
Base Rent Adjustment. Monthly Base Rent shall be as follows: Beginning on December 1, 2024, through November 30, 2026, the Monthly Base Rent shall be $156,426.24, but the Monthly Base Rent due on December 1, 2024, for December 2024, shall be abated so long as Lessee is not in breach under this Lease prior to December 1, 2024. Beginning on December 1, 2026, through November 30, 2027, the Monthly Base Rent shall be 161,119.03. The estimated Operating Expenses currently are about $.69 per rentable square foot of the Premises.
Base Rent Adjustment for each calendar year will equal the product of (a) the Net Rentable Area of the Premises, times (b) a rate per annum per square foot of Net Rentable Area equal to the sum of (i) the excess, if any, of the rate of Operating Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Operating Costs Base Rate, (ii) the excess, if any, of the rate of Tax Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Tax Costs Base Rate, and (iii) the excess, if any, of the rate of Utilities Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Utilities Costs Base Rate. Effective on any change in the Net Rentable Area of the Premises or the Building in accordance with this Lease, the calculation of the Base Rent Adjustment will change accordingly. The Base Rent Adjustment will never lower Base Rent below the amount specified in the Basic Lease Information. Prior to January 1 of each calendar year after the Base Year (or as soon thereafter as reasonably practical), Landlord will provide an estimate of the Base Rent Adjustment for the forthcoming calendar year, and the Monthly Rent Installments due thereafter will be adjusted to reflect the Base Rent Adjustment so estimated by Landlord. By June 1 of each calendar year, or as soon thereafter as reasonably practical, Landlord will furnish to Tenant a statement (the "Annual Statement") showing in reasonable detail the calculation of the Base Rent Adjustment for the immediately preceding calendar year and comparing the actual Base Rent Adjustment to the estimated Base Rent Adjustment actually paid by Tenant. If the estimated Base Rent Adjustment paid is less than the actual Base Rent Adjustment reflected on the Annual Statement, Tenant must pay Landlord the amount of the deficit in a lump sum no later than thirty (30) days after receipt of the Annual Statement. If the estimated Base Rent Adjustment paid is greater than the actual Base Rent Adjustment reflected on the Annual Statement, Landlord will allow Tenant equal monthly credits against the Monthly Rent Installments due for the remainder of the then current calendar year in an aggregate amount equal to the surplus, or if Landlord so chooses, Landlord will pay Tenant the amount of the surplus in a lump sum within thirty (30) days after delivery of the Annual Statement. In calculating any surplus or deficit owed for any calendar year in ...
Base Rent Adjustment. Base rent will increase every 5 years by the lesser of 10% or 4 x average CPI over the prior 5 years, as provided in section 3.3 below.
Base Rent Adjustment. The monthly Base Rent payable hereunder shall be equal to: May 1, 2003 through April 30, 2004 $ 29,341.15 May 1, 2004 through April 30, 2005 $ 30,221.39 May 1, 2005 through April 30, 2006 $ 31,128.03 If the term is extended: May 1, 2006 through April 30, 2007 $ 32,061.87 May 1, 2007 through April 30, 2008 $ 33,023.72 May 1, 2008 through April 30, 2009 $ 34,014.43
Base Rent Adjustment means the product of (a) the. original Base Rent specified in Section 5.1 multiplied by (b) a fraction, the numerator of which is the Current Index and the denominator of which is the Base Index. If, at any time or times during the Term, the Current Index exceeds the Base Index, then the Base Rent payable during the Fiscal Year which immediately follows the last day of the month for which the Current Index was computed shall be adjusted by the amount of the Base Rent Adjustment. At any time following the end of a Fiscal Year, Landlord may send Tenant an index comparative statement setting forth the Base Index, the Current Index and the Base Rent Adjustment (if applicable) for such Fiscal Year. Beginning with the first month of the Fiscal Year during which Landlord sends to Tenant an index comparative statement containing a Base Rent Adjustment, and continuing monthly thereafter until Landlord sends to Tenant a different index comparative statement, the monthly installments of Base Rent shall be increased by an amount equal to l/12th of the Base Rent Adjustment, A decrease in the Current Index shall not result in a decrease in the Base Rent.
Base Rent Adjustment. The Base Rent shall be increased by three percent (3.0%) per annum on each anniversary of the Commencement Date. Rent Commencement Date: The date which is six (6) months after the Commencement Date Tenant’s Share [for purposes of Expenses, Real Estate, Taxes and Parking]: 100.0%, subject to adjustment as provided in Section 3(d)(i)(H) from and after the Direct Lease Date Security Deposit: See Section 32 Broker: Cornish & ▇▇▇▇▇ Commercial Newmark ▇▇▇▇▇▇ ▇▇▇▇▇ (“Landlord’s Broker”) and ▇▇▇▇▇▇ ▇▇▇▇▇-Real Estate Services and Colliers International - Silicon Valley (collectively, “Tenant’s Broker”) Broker’s Fee or Commission Paid By: Landlord The foregoing Basic Lease Information is hereby incorporated into and made a part of this Lease. Each reference in this Lease to any of the Basic Lease Information shall mean the respective information hereinabove set forth and shall be construed to incorporate all of the terms provided under the particular paragraph pertaining to such information. In the event of any conflict between any Basic Lease Information and the Lease, the latter shall control. LANDLORD: TENANT: ▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ FEE, LLC, a Delaware limited liability company SYNOPSYS, INC., a Delaware corporation By: DDC Rock 690 E. Middlefield, LLC, a Delaware limited liability company, its Sole Member By: Name: Its: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ Senior Vice President, H.R. and Facilities By: DDC ▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ Associates, LLC, a Delaware limited liability company, its Manager By: Name: Its: /s/ Mollier ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Authorized Representative