Base Rent for Expansion Premises. (a) Tenant shall continue to pay Base Rent with respect to the Existing Premises at the rates set forth in the Lease, (b) commencing on the Expansion Premises Commencement Date (but subject to the Expansion Premises Base Rent Abatement [as defined below]), Base Rent for the Expansion Premises shall be payable at the rate of $[***] per month, and (c) commencing on the Expansion Premises Commencement Date, Base Rent for the Expansion Premises shall be increased as of the date or dates on which Tenant uses the Additional Expansion Premises TI Allowance (as defined in the Expansion Premises Work Letter attached hereto as a part hereof as Exhibit C) (such increase to be calculated based on the amount of the Additional Expansion Premises TI Allowance used by Tenant, such amount to be amortized over the Base Term based on an interest rate of [***]% per annum; the resulting amount so amortized shall be added to the monthly installments of Base Rent for the Expansion Premises). Notwithstanding any contrary provision contained in the Lease, the Base Rent for the Expansion Premises shall thereafter be increased on each anniversary of the Expansion Premises Commencement Date (which, solely for purposes of determining such increase, shall be April 1, 2020 if the Expansion Premises Commencement Date occurs before such date) by multiplying the Base Rent payable for the Expansion Premises immediately before such date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable for the Expansion Premises immediately before such date; provided, however, that as more fully set forth in Section 5(b)2 of the Work Letter, the Rent Adjustment Percentage shall not apply to the Additional Expansion Premises TI Allowance. Base Rent for the Expansion Premises, as so adjusted, shall thereafter be due as provided in the Lease.
Base Rent for Expansion Premises. In addition to the Base Rent payable by --------------------------------- Tenant for the Existing Premises, Tenant shall pay the following Base Rent for the Expansion Premises: Months Base Rent ------ --------- EPCD - 12/31/99: $3.20 per rentable square foot per month 01/01/00 - 12/31/00: $3.40 per rentable square foot per month 01/01/01 - 12/31/01: $3.50 per rentable square foot per month 01/01/02 - 12/31/02: $3.60 per rentable square foot per month 01/01/03 - 12/31/03: $3.70 per rentable square foot per month 01/01/04 - Expiration Date: $3.80 per rentable square foot per month
Base Rent for Expansion Premises. Effective as of the Expansion Premises Commencement Date, Tenant shall pay Base Rent for the Expansion Premises as set forth in the schedule below and otherwise in accordance with the terms of the Lease. Period Annual Base Rent (Based on 12 months) Monthly Base Rent Per RSF July 1, 2020 – June 30, 2021 $216,380.00 $18,031.67 $62.00
Base Rent for Expansion Premises. The Base Rent for the Expansion Premises shall be as follows: Period Sq. Ft. Rent/SF/Mo./NNN Amount/Month Expansion Premises Commencement Date - 3/31/15 8,000 $ 0.00 $ 0.00 4/1/15 - 6/30/15 8,000 $ 2.52 $ 20,160.00 7/1/15 - 5/8/16 18,732 $ 2.52 $ 47,204.64 5/9/16 - 5/8/17 18,732 $ 2.59 $ 48,515.88 5/9/17 - 5/8/18 18,732 $ 2.66 $ 49,827.12 5/9/18 - 5/8/19 18,732 $ 2.74 $ 51,325.68 5/9/19 - 5/8/20 18,732 $ 2.82 $ 52,824.24 On the date that Tenant executes this Amendment, Tenant shall deliver to Landlord the amount of Forty-Seven Thousand, Two Hundred Four and 64/100 Dollars ($47,204.64) as Base Rent for the entire Expansion Premises as set forth above (which shall be applied against the Base Rent payable for the first months after the Expansion Premises Commencement Date until fully applied) plus the amount of Sixteen Thousand, Seven Hundred Four and 00/100s Dollars ($16,704.00) as Tenant’s Share of Additional Rent for the first full months after the Expansion Premises Commencement Date until fully applied.
Base Rent for Expansion Premises. (a) Tenant shall continue to pay Base Rent with respect to the Existing Premises at the rates set forth in the Lease, and (b) commencing on the Rent Commencement Date (i.e., January 1, 2022), Base Rent for the Expansion Premises shall be payable at the rate of $5,146.25 per month. During the Term, the Base Rent for the Expansion Premises shall be increased on the Adjustment Date, by multiplying the monthly Base Rent payable immediately before such Adjustment Date for the Expansion Premises by the Rent Adjustment Percentage (i.e., [***]%) and adding the resulting amount to the monthly Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided in Section 4 of the Lease. On the Effective Date, Tenant shall deliver to Landlord an amount equal to the first monthly installment of Base Rent payable for the Expansion Premises.
Base Rent for Expansion Premises. Commencing on the Expansion Commencement Date and continuing throughout the Expansion Term, Lessee shall pay to Lessor monthly installments of Base Rent, pursuant to the terms of the Lease, for the Expansion Premises as follows (the first “Expansion Term Lease Year” shall be the first full twelve (12) consecutive calendar months in addition to any partial calendar month at the beginning of the Expansion Term should the Expansion Commencement Date not fall on the first (1st) day of a calendar month, and each following “Expansion Term Lease Year” shall be the succeeding twelve (12) month period): Expansion Term Lease Year Annualized Base Rent Monthly Installment of Base Rent Monthly Base Rent Per Rentable Square Foot 1 $100,300.20 $8,358.35 $3.85 2 $103,426.44 $8,618.87 $3.97 3 (partial year) $106,292.16 $8,857.68 $4.08 On or before the Expansion Commencement Date, Lessee shall pay to Lessor the Base Rent payable for the Expansion Premises for the first full month of the Expansion Term.
Base Rent for Expansion Premises. The annual Base Rent for the -------------------------------- first five years of the Term with respect to the Expansion Premises shall be equal to the product of (a) the Total Direct Costs of the Expansion Premises and (b) the sum of (i) the rate of interest being paid on ten (10) year United States Treasury Notes (expressed as a decimal) in effect on the date Tenant exercises the Expansion Option and (ii) 3.50% (expressed as a decimal) (the sum of (i) and (ii) shall be referred to as the "Cap Rate"), subject to increase to reflect that portion of the Change Order Fund (if any) that Tenant elects to incorporate into the Base Rent with respect to such Expansion Premises; provided, however, that in no event shall the Cap Rate be less than nine and eighty-two one-hundredths percent (9.82%). Beginning in year six of the Term with respect to the Expansion Premises and continuing until the tenth year of the Term with respect to any Expansion Premises, the annual Base Rent for such Expansion Premises shall be the annual Base Rent payable for such Expansion Premises during the first five years multiplied by 1.104.
Base Rent for Expansion Premises. Lessee acknowledges and agrees that it has received the benefit of all abated rent (i.e. for the month of September, 2014 and any prior period) and no further rent abatement is due or owing to Lessee. Commencing on the Effective Date, Paragraph 61 of the Lease is deleted in its entirety and replaced with the following:
Base Rent for Expansion Premises. Commencing on the Expansion Premises Rent Commencement Date (notwithstanding any later date of completion of the tenant improvements to be constructed in the Expansion Premises) and continuing through the Lease Expiration Date, in addition to the Base Rent payable by Tenant for the Existing Premises pursuant to the Lease, Tenant shall pay Base Rent for the Expansion Premises, in accordance with the terms and conditions of the Lease, in the following amounts for the following periods: Months Annual Base Rent Monthly Installment of Base Rent Annual Rental Rate Per Rentable Square Foot July 1, 2007 — June 30, 2008: $ 511,377.50 $ 42,614.79 $ 35.50 July 1, 2008 — June 30, 2009: $ 525,782.50 $ 43,815.21 $ 36.50 July 1, 2009 — June 30, 2010: $ 540,187.50 $ 45,015.63 $ 37.50 July 1, 2010 — June 30, 2011: $ 554,592.50 $ 46,216.04 $ 38.50 July 1, 2011 — June 30, 2012: $ 568,997.50 $ 47,416.46 $ 39.50 July 1, 2012 — June 30, 2013: $ 583,402.50 $ 48,616.88 $ 40.50 July 1, 2013 — June 30, 2014: $ 597,807.50 $ 49,817.29 $ 41.50 July 1, 2014 — July 31, 2015: $ 612,212.50 $ 51,017.71 $ 42.50 Base Rent shall be payable in the amounts set forth for each time period specified above, regardless of the actual Expansion Premises Rent Commencement Date. For example, if the Expansion Premises Rent Commencement Date were August 15, 2008, then: (i) Base Rent would be payable at the annual rate of $36.50 per square foot; (ii) the monthly installment of Base Rent for August 2008 would be prorated based on the partial month; (iii) the next full monthly installment of Base Rent would be payable on September 1, 2008; and (iv) effective as of July 1, 2009, Base Rent would be payable at the annual rate of $37.50 per square foot.
Base Rent for Expansion Premises. In addition to the Base Rent due with respect to the Existing Premises, Lessee shall pay Base Rent for the Expansion Premises, which shall be payable at the time and in the manner required for Base Rent in the Existing Lease. The amount of Base Rent due and payable by Lessee for the Expansion Premises on the EPCD and monthly thereafter through the Termination Date of the Expansion Premises Term shall be as follows: Period from/to Monthly Base Rent EPCD – August 31, 2019 $ 5,814.95 September 1, 2019 – August 31, 2020 $ 5,989.40 September 1, 2020 – August 31, 2021 $ 6,169.08 September 1, 2021 – August 31, 2022 $ 6,354.15 September 1, 2022 – August 31, 2023 $ 6,544.78 September 1, 2023 – August 31, 2024 $ 6,741.12 Lessee shall prepay Lessor the first month’s Base Rent for the Expansion Premises upon execution of this Amendment. For so long as Lessee is not in Breach under the terms of the Lease, the Base Rent payable for the Expansion Premises as scheduled above shall be fully abated for the second (2nd), third (3rd) and fourth (4th) full calendar months of the Expansion Premises Term, for a total of three (3) months. Lessee shall continue to pay Lessee’s Share of Common Area Operating Expenses for the Expansion Premises during such abatement period. The abatements set forth in this section shall be considered an Inducement Provision subject to the provisions of Paragraph 13.3 of the Original Lease.
