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. (a) Provided that no Event of Default has occurred and is continuing, commencing on the Lease Commencement Date, subject to the provisions of Section 3.3, Landlord agrees to waive the total amount of the following costs for the Initial Premises only for a six (6) month period: (1) all Base Rent due for such period, to be applied in monthly installments for each of the six (6) full months following the Lease Commencement Date, (2) Tenant’s additional rent for Tenant’s Proportionate Share of Operating Expenses and Real Estate Taxes due for such six (6) month period (including any Metered Costs), (3) all Consumable Expenses, (4) any Temporary Usage Charges and (5) all Submetered Costs for such six (6) month period.
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 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...
Abatement Period. Notwithstanding anything contained to the contrary in this Lease, Tenant shall not be responsible for payments of any Fixed Rent or Additional Rent for the Demised Premises during the Abatement Period. If at any time during the Abatement Period a default by Tenant occurs and such default is not cured within any applicable grace or cure period, then Tenant shall immediately pay to Landlord a lump sum payment equal to the Fixed Rent which would have accrued under Section 1.1 of this Lease from the Commencement Date through and including the last day of the month of Tenant’s default, after expiration of any applicable grace or cure period, and thereafter Tenant shall pay Landlord the abated Fixed Rent on a monthly basis in accordance with Section 4.1 of this Lease.
Abatement Period. Notwithstanding any provision of the Lease to the contrary, provided that Tenant is not then in default under the Lease beyond any applicable notice and cure period, the abatement of monthly installments of Basic Rent for the Premises shall be reduced from six (6) months to five and one-half (5½) months (month two (2) through the first one half of month seven (7) of the Initial Term for each Premises) (each an “Abatement Period”).
