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 has the meaning ascribed to it in Section 2.20(a).

Base Rent Adjustment. As defined in Section 3.3.

Examples of Base Rent Adjustment in a sentence

• 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).

• 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”).

• 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.

• Should Tenant object in writing to Landlord's proposal within twenty (20) days after receipt thereof, then during the twenty (20) day period following Tenant's objection to Landlord's proposal, Landlord and Tenant shall negotiate in good faith for the purpose of reaching an agreement regarding the amount of the monthly Base Rent and any applicable Base Rent Adjustment Mechanism during the Extended Term.

• In the event the parties fail to agree in a written instrument signed by both parties upon the amount of the initial monthly Base Rent and Base Rent Adjustment Mechanism for the Extended Term within such twenty (20) day period, the initial monthly Base Rent and Base Rent Adjustment Mechanism for the Extended Term shall be determined by arbitration in the manner hereafter set forth.

More Definitions of Base Rent Adjustment

Base Rent Adjustment. The Monthly Base Rent under the Lease will be adjusted beginning December 1, 2008. Accordingly, the existing provisions defining “Monthly Base Rent” and “Base Rent Adjustment” are deleted in their entirety and replaced with the following: Monthly Base Rent: The Monthly Base Rent during the initial Term (as extended by this Lease Amendment) shall be as follows: Year Monthly Base Rent 12/1/1998 to 11/30/1999 $ 125,398.35 12/1/1999 to 11/30/2000 $ 129,160.30 12/1/2000 to 11/30/2001 $ 133,035.11 12/1/2001 to 11/30/2002 $ 137,026.16 12/1/2002 to 11/30/2003 $ 141,136.94 12/1/2003 to 11/30/2004 $ 145,371.05 12/1/2004 to 11/30/2005 $ 149,732.18 12/1/2005 to 11/30/2006 $ 154,224.15 12/1/2006 to 11/30/2007 $ 158,850.87 12/1/2007 to 11/30/2008 $ 163,616.40 12/1/2008 to 11/30/2009 $ 141,406.65 12/1/2009 to 11/30/2010 $ 145,648.85 12/1/2010 to 11/30/2011 $ 150,018.32 12/1/2011 to 11/30/2012 $ 154,518.86 12/1/2012 to 11/30/2013 $ 159,154.43 On each anniversary of the commencement of the Extension Term (if any), the Monthly Base Rent shall increase by three (percent (3%) of the Monthly Base Rent applicable to the month immediately prior to the applicable anniversary.

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. 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. On each anniversary of the Rent Commencement Date, the Monthly Base Rent shall increase by three percent (3%) of the

Base Rent Adjustment. Date shall mean the first day of April, in each year of the Lease Term commencing 2000.

Base Rent Adjustment means an amount equal to the amount of level monthly payments of principal and interest that would be required to amortize the total amount of the Additional Contribution over the last sixty (60) months of the initial Term of the Lease at a rate of eight percent (8%) per annum.

Base Rent Adjustment. On the first day of the thirteenth (13th) month following the Commencement Date, Base Rent shall be increased to Thirteen Thousand Four Hundred Ninety and 72/100 Dollars ($13,490.72).