Free Rent definition
Free Rent means the amount of base rent and tenant reimbursements that are abated according to the applicable lease agreement(s).
Free Rent means the period at inception of a tenant's lease during which the tenant does not pay base rent and operating expenses, as provided for under the lease agreement.
Free Rent shall have the meaning set forth in Section 8.10(a) hereof.
Examples of Free Rent in a sentence
Free Rent and Rental Abatements: A schedule of all free rent or rental abatement activity should be included in the monthly accounting package.
Upon the occurrence of any Default, the Free Rent Period shall immediately expire, and Tenant shall no longer be entitled to any further abatement of Base Rent pursuant to this Section.
At the conclusion of the Free Rent Period, this Section 4.15 shall have no further force or effect.
In the event of a Tenant Delay, Landlord’s obligation to deliver Substantial Completion may, at Landlord’s option, be extended by one (1) day for each day of a Tenant Delay and Rent shall commence on the scheduled Commencement Date or as the case may be Free Rent will be reduced on a day for day basis for each day of Tenant Delay.
During the First Amendment Premises Free Rent Period, the Property Management Fee shall be calculated as if Tenant were paying Base Rent in the full amount required pursuant to the Lease had the First Amendment Premises Free Rent Period not been in effect.
More Definitions of Free Rent
Free Rent. Landlord’s Work: Free Rent: Tenant shall receive an Allowance in the form of Free Rent for the first Four (4) months of the term of the Lease. Tenant shall pay CAM and Taxes during Free Rent period. Unit to be left in broom clean condition free of furniture, dirt, and debris.
Free Rent means a forgiveness of the Land Rent, as prorated on a daily basis for the period described. Upon the completion of Landlord's Work, Landlord shall give Tenant written notice of such completion (the "Final Completion Notice"), and Tenant shall be deemed to have fully accepted Landlord's Work as satisfactorily completed in accordance with all requirements of this Leasehold Improvements Agreement and shall further be deemed to have waived any defects in Landlord's Work, except to the extent that:
Free Rent. Lessee shall be granted months one and two of the lease term as free rent.
Free Rent. The tenant is granted the first three months occupancy rent free, however, the CAM charges together with all of the terms and conditions of the lease are in full force and effect. The schedule of payments are as follows: Months 1 to 3 rent free except for the $340.00 CAM charge Months 4 to 36 $ 1,696.66 Months 37 to 63 $1,796.00 Page three Lease Addendum -- Powin Center LLC to ▇▇▇▇▇▇▇▇▇▇ Industrial Supplies Inc Lessor Tenant Powin Center LLC ▇▇▇▇▇▇▇▇▇▇ Industrial Supplies Inc By /s/ By /s/ Date 04/08/04 Make checks Payable to: Powin Center LLC Mail to: ▇. ▇. ▇▇▇▇ Company ▇.▇. ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ This Agreement made this the 9 day of June 2008 between MACO Life Style Company, Inc., here in after referred to as MACO and the Powin Center, The Powin Center having its principal Office at ▇▇▇▇ ▇.▇. ▇▇▇▇▇▇▇▇▇ Road #326, Tigard, Oregon 97223. This agreement shall be subject to the terms and conditions of the Lease Assumption Agreement By MACO on space #210 in the Powin Center located a ▇▇▇▇▇ ▇.▇. ▇▇▇ ▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ dated I March 2008 and the provisions and conditions referred to and contained there in. MACO is to occupy unit # 107 in the above named building on Month to Month tenancy for a Rental of $850.00 per month plus a CAM charge of $408.00 per month for a total due Each and every month of $1,258.00. Month to Month tenancy may be terminated by either party with 30 days advance written notice. Rental Payments are to be sent to: ▇. ▇. ▇▇▇▇ Company ▇.▇. ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ Phone ▇▇▇ ▇▇▇ ▇▇▇▇ Any similarity between the signors below does not necessarily represent a merger of interest. Date 06/19/08 Powin Center MACO /s/ ▇▇▇▇▇▇ ▇▇ /s/ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇
Free Rent. See Addendum "A"
Free Rent. Notwithstanding any thing prior herein, there shall be no rent payable for the month of September 1999 nor for the month of September 2000. The Tenant shall still be required to pay additional rent and utility charges for the said two months. Tenant's 6. The Tenant covenants with the Landlord. Covenants
Free Rent shall include only rent that is abated or not charged from and after the time that a tenant has completed its tenant improvements such that the premises are in a condition to be occupied. The determination of Market Rent shall take into consideration the value of the existing improvements in the Premises, as compared to the value of the existing improvements in such comparable space, with such value to be based upon the age, quality and layout of the improvements. Sublease and expansion transactions shall not be considered in establishing Market Rent. Landlord cannot be compelled to pay any concessions or allowances to Tenant during the Extension Term but market rate concessions and allowances for lease extensions may be considered in establishing Market Rent. Market Rent may include periodic or annual increases if such increases are consistent with then-existing market conditions.