Abatement Period. The scheduled monthly installments of Annual Base Rent for the first three (3) months of the Term (the “Abatement Period”) shall not be due by Tenant so long as no Event of Default has occurred under this Lease, provided, however, Tenant shall be responsible for the payment of the “Electrical Charge” under Section 5.4 during the Abatement Period. Tenant shall pay all Additional Rent payable for the Abatement Period pursuant to the terms of this Lease. The entire monthly installments of Annual Base Rent otherwise due and payable for the Abatement Period shall become immediately due and payable upon the occurrence of an Event of Default by Tenant under this Lease.
Abatement Period. 1 Affiliate....................................................................................................................11
Abatement Period. Notwithstanding anything herein to the contrary, Landlord and Tenant acknowledge and agree that Tenant shall not pay Base Rent hereunder for months one through five of the Lease Term (the “Base Rent Abatement Period”), as is shown in the “Base Rent” portion of the Summary; provided, however, that if at any time during the Lease Term Tenant is in default under the terms of this Lease (beyond any applicable notice and cure periods provided for herein), Landlord’s agreement to waive payment of the Base Rent during the Base Rent Abatement Period shall be immediately revoked without further notice to Tenant and any previous waiver of Base Rent by Landlord shall be null and void. In the event of a default by Tenant under this Lease (beyond any applicable notice and cure period provided for herein), in addition to all other remedies in connection therewith, Landlord shall have the right to demand immediate payment of any and all Base Rent which would have been due and payable in accordance with this Lease absent the waiver contained in this Section 4.02; provided, however, that any such amount payable to Landlord shall be prorated based on the number of years remaining on the Lease Term (e.g., if five (5) years are remaining in the Lease Term, Tenant would pay to Landlord one-half (1/2) of the total amount of the abated rent).
Abatement Period. Notwithstanding anything in Section 4.1(a) above to the contrary, so long as Subtenant is not in default under this Sublease, Subtenant shall be entitled to an abatement of Base Rent and Operating Costs (defined in Section 4.2 below) for the first ten (10) calendar months of the Term (the "Rent Abatement Period"). The total amount of Rent abated during the Rent Abatement Period is referred to herein as the "Abated Rent". If Subtenant defaults in any material respect during the Rent Abatement Period and fails to cure such default within any applicable cure period, there will be no further abatement of Rent under this Section 4.1(c)(i).
Abatement Period. The tax abatement period in which the APPLICANT is eligible for REAL PROPERTY abatement shall be five (5) consecutive years, with the first year of abatement being the first tax year that begins after: (i) the issuance of the Certificate of Occupancy for the REAL PROPERTY; and, (ii) the APPLICANT having met the investment amount noted in subsection B, Table 1 below, subject to verification by the CITY and inspection of the REAL PROPERTY to ensure compliance with the Infill Development Incentive Policy requirements. Failure of the APPLICANT to receive its Certificate of Occupancy and meet its investment requirement within two (2) years of the Effective Date of this Agreement shall result in the immediate termination of this Agreement without any further action required by the CITY.
Abatement Period. 2 ADA...........................................................................4
Abatement Period. Notwithstanding anything to the contrary contained herein, provided Tenant is not in default hereunder, Tenant’s obligation to pay Base Rent otherwise due for the months of (the “Base Rent Abatement Period”) shall be abated. The rent abated during the Base Rent Abatement Period is herein the (“Abated Base Rent”). If Landlord elects to terminate this Lease or Tenant’s right to possession of the Premises due to a default by Tenant not cured during any applicable grace or curative period, then (i) the portion of the Abated Base Rent unamortized as of the date of such default (with the Abated Base Rent being deemed to have been amortized in equal monthly installments together with interest therein at the rate of percent ( %) per annum over the Lease Term) shall immediately become due and payable; and (ii) Tenant shall not be entitled to any further abatement of the Abated Base Rent pursuant to this paragraph. The payment by Tenant of the Abated Base Rent in the event of a default shall not limit or affect any of Landlord’s rights or remedies, in the event of a default by Tenant, pursuant to this Lease at law or in equity.
Abatement Period. Notwithstanding anything to the contrary contained herein, so long as Lessee is not then in Default under the Lease, Lessee shall be entitled to receive an abatement of the Base Rent due during the calendar months of November and December, 2012 (the “Abatement Period”) subject to the provisions of this Section 3(b). All Base Rent abated pursuant to this Section 3(b) is herein referred to as “Abated Rent.” During the Abatement Period, Lessee shall still be responsible for the payment of all of its other monetary obligations under the Lease (including, without limitation, all impositions, insurance premiums, taxes, assessments, operating charges, maintenance charges and other charges, costs and expenses arising or contemplated under the Lease). In the event of a Default by Lessee under the terms of the Lease that results in early termination pursuant to the provisions of Article XII of the Original Lease, and as part of the recovery set forth in Article XII of the Original Lease, Landlord shall be entitled to the recovery of the then-unamortized portion of the Abated Rent (assuming amortization of Abated Rent on a straight-line basis over the Fourth Amendment Extended Term.).
Abatement Period. Notwithstanding anything contained in this Section 5 to the contrary, no Base Rent shall be payable with respect to the Lease Year which occurs immediately following the Lease Year in which FDA Approval (defined below) is obtained by Tenant, or, if the FDA Approval is obtained prior to the first Lease Year, no Base Rent shall be payable with respect to the first Lease Year (the “Base Rent Abatement Period”). As used herein “FDA Approval” means that the FDA has approved a New Drug Application for the sale and marketing of either (1) bardoxolone methyl for the treatment of chronic kidney disease in patients with Alport syndrome or (2) omaveloxolone for the treatment of patients with Friedreich’s ataxia. If the Base Rent Abatement Period is not the First Lease Year, the increase in the Base Rent described in Section 5(c) above for the Lease Year immediately following the Base Rent Abatement Period shall be based upon the Lease Year immediately preceding the Base Rent Abatement Period.
Abatement Period. Notwithstanding anything to the contrary contained in this Third Amendment and provided that no Event of Default then exists under the Lease, Tenant will not be required to pay any Monthly Installment of Rent with respect to the Suite 1410 Expansion Premises for the first five (5) full calendar months immediately following the Suite 1410 Expansion Commencement Date (the "Suite 1410 Expansion Abatement Period"). During the 1410 Expansion Abatement Period, Tenant will still be responsible for the payment of all its other monetary obligations under the Lease as amended by this Third Amendment, including all Monthly Installments of Rent not subject to abatement pursuant to this Section 12, as well as all additional rent with respect to the Suite 1300 Premises, the Suite 1400 Premises, or the Suite 1410 Expansion Premises. In the event of an Event of Default by Tenant under the terms of the Lease that results in termination of the Lease, then in addition to all other remedies available to Landlord under the Lease, as part of its damages, Landlord will be entitled to the immediate recovery, as of the day prior to such termination, of the unamortized amount of the Monthly Installments of Rent that were abated pursuant to this Section 12 (as amortized over the scheduled term of the Lease for the Suite 1410 Expansion Premises). Further, if Tenant does not receive any portion of the foregoing abatement applicable to the Suite 1410 Expansion Premises by reason of an Event of Default and Tenant subsequently cures such Event of Default without the Lease being terminated, then Tenant shall upon such cure be entitled to receive the full amount of such abatements. Provided no Event of Default then exists under the Lease, Tenant may convert any portion of the amount of Monthly Installments of Rent to be abated pursuant to this Section 12, in the total amount of $117,383.75, into the Converted Rent-Abatement TI Allowance, as further described in the Work Letter attached as Exhibit B. Any amount of the Converted Rent-Abatement TI Allowance remaining after the completion of the Expansion Premises Improvements and any Existing Premises Improvements pursuant to the Work Letter shall by applied to xxxxx the Monthly Installments of Rent, beginning with the earliest installment following the determination of same, with Tenant responsible for the balance of any Monthly Installment of Rent not fully abated by the remaining Converted Rent-Abatement TI Allowance and all Monthly Instal...
