Free Rent Period is hereby defined as follows: (1) If the Commencement Date is the first day of a calendar month, the Free Rent Period shall be the period beginning on the Commencement Date and ending on the last day of the third (3rd) complete calendar month following the Commencement Date, and (ii) if the Commencement Date Is a day other than the first day of a calendar month, the Free Rent Period shall be the period beginning on the Commencement Date and ending on the day Immediately preceding the day which corresponds numerically to the Commencement Date in the third (3rd) calendar month following the calendar month which contains the Commencement Date (provided that if there Is no such numerically corresponding day in such third (3rd) calendar month, the Free Rent Period shall end on the last day of such third (3rd) calendar month).
Free Rent Period. As defined in Section 3.7.
Free Rent Period. In addition, if any portion of the Allowance (as defined in EXHIBIT D) is not used by Tenant to complete Tenant’s Work (as defined in EXHIBIT D) in accordance with the Space Plans and Construction Drawings (as defined in EXHIBIT D) approved by Landlord and no Event of Default has occurred and is continuing, the unused Allowance (the “Unused Allowance”) shall at Tenant’s option upon not less than thirty (30) days prior notice to Landlord after final determination of any Unused Allowance and receipt of all final lien waivers for the Tenant, be credited against any Rent then due Landlord from Tenant or Tenant may receive a payment equal to the Unused Allowance. With respect to any expansion or renewal of this Lease for which Tenant is provided an allowance for tenant improvements, the portion of the allowance not used by Tenant for such tenant improvements (not in excess of twenty-five percent (25%) of such allowance) may be credited against any Rent payable during the extension or renewal term on the same terms as set forth above.
Examples of Free Rent Period in a sentence
The installment of Basic Rental payable with respect to the first complete calendar month following the Free Rent Period shall be payable upon the execution of this Lease.
More Definitions of Free Rent Period
Free Rent Period. (as defined in Section 4.2, below), or (b) the date upon which Tenant presents Landlord with proof that Tenant's net worth has reached at least Ten Million Dollars ($10,000,000.00), which proof shall include financial statements prepared in accordance with generally accepted accounting principles, and Tenant shall provide Landlord with any additional proof as to Tenant's net worth which Landlord reasonably requests prior to being released from Tenant's obligation to maintain the Letter of Credit. Alternatively, if at any time after the last day of the twelfth (12th) month after the expiration of the Free Rent Period, Tenant is unable to meet the net worth criteria specified in clause (b) above, then provided Tenant is not currently and has not been in Default hereunder, Tenant shall have the option to deposit a cash security deposit with Landlord in the amount of Ninety-Five Thousand Three Hundred Twenty Eight and 31/100 Dollars ($95,328.31), in which event Tenant's obligation to maintain the Letter of Credit shall cease upon Landlord's receipt of such cash security deposit. Any such cash security deposit shall be held by Landlord pursuant to the terms of Section 19.8
Free Rent Period means the three calendar month period beginning on the first day of the first full calendar month of the Initial Term and ending on the last day of the third full calendar month thereafter.
Free Rent Period. Five (5) months, as further defined and described in Section 6.
Free Rent Period. Five (5) months for Expansion Area A, and three (3) months for Expansion Area B, as further defined and described in Section 6.
Free Rent Period shall have the meaning ascribed to it in Schedule “D”;
Free Rent Period shall begin on the Lease Commencement Date and end on the first to occur of (a) the day that is two hundred seventy (270) days after the Lease Commencement Date, or (b) the Outside Completion Date. If the Lease Commencement Date occurs on or after the Outside Completion Date, there shall be no Free Rent Period. The Free Rent Period (if any) applies only to monthly installments of Annual Base Rent, and not to any other Rent or amounts payable by Tenant hereunder.
Free Rent Period. Notwithstanding the provisions in Article 1.5 of this lease, the minimum monthly rent due under the lease for the first, second and third months of the lease term shall be zero (0). During the free period, Tenant shall pay the operating costs and other charges (other then the minimum monthly rent) in accordance with the terms of the lease.