Adjustment of Base Rent. Beginning on July 1, 2005, and continuing through December, 2005, Base Rent shall be payable in advance in equal, consecutive monthly installments of One Hundred Ninety Thousand, Three Hundred Ninety-Three and 13/100 Dollars ($190,393.13), on or before the tenth (10th) day of each calendar month. Commencing on January 1, 2006, and on each January 1 thereafter during the term of this Lease, the Base Rent shall be increased by two and one half percent (2.5%) per annum of the previous year's Base Rent. If the previous year's Base Rent is for a partial year, Base Rent shall be adjusted as if it were a full year. Notwithstanding anything contained herein to the contrary, with respect to the adjustment of Base Rent for calendar year 2006, the increased Base Rent for calendar year 2006 will be calculated as if the annual rental rate of Two Million, Two Hundred Eighty-Four Thousand, Seven Hundred Seventeen and 51/00 Dollars ($2,284,717.51) applied to the entire calendar year 2005. Notwithstanding anything contained herein to the contrary, the parties hereto acknowledge and agree that all calculations of Base Rent, including six (6) months of the Base Rent for calendar year 2005, have been made by multiplying the Initial Purchase Price by 10.25% per annum. In the event the Initial Purchase Price is adjusted and increased by the Purchase Price Adjustment, then all calculations of Base Rent shall be adjusted accordingly (including Base Rent for the calendar year 2005, if applicable) before adding and calculating the 2.5% annual increases as set forth above.
Adjustment of Base Rent. Effective July 1, 2012, Base Rent shall be in accordance with the Rent Schedule set forth below: 7/1/12 – 6/30/13 $ 38,433.75 per month 7/1/13 – 6/30/14 $ 39,472.50 per month 7/1/14 – 6/30/15 $ 40,511.25 per month
Adjustment of Base Rent. Commencing on January 1, 2007, and on each January 1 thereafter (each an "Adjustment Date") during the term of this Lease, the Base Rent shall be increased, if any, by an amount equal to the greater of (A) two percent (2%) per annum of the prior year's Base Rent, or (B) the percentage by which the CPI on the Adjustment Date shall have increased over the CPI figure in effect on the immediately preceding January 1. If the previous year's Base Rent is for a partial year, Base Rent shall be annualized based on the highest annual rate effective during the preceding year. Notwithstanding anything contained herein to the contrary, the parties hereto acknowledge and agree that all calculations of Base Rent as specified herein have been made by multiplying the Initial Purchase Price by the Lease Rate. In the event the Initial Purchase Price or Lease Rate is adjusted, then all calculations of Base Rent shall be adjusted accordingly.
Adjustment of Base Rent. Lessor and Lessee hereby agree that §51(a) of the Lease, as amended, shall be replaced with the following Base Rent Schedule (the “Base Rent Schedule”): June 1, 2011 June 1, 2011 - January 31, 2012 126,715 SF x $0.89 SF/NNN $ 112,776.00 February 1, 2012 February 1, 2012 - January 31, 2013 126,715 SF x $1.06 SF/NNN $ 134,318.00 February 1, 2013 February 1, 2013 - January 31, 2014 126,715 SF x $1.11 SF/NNN $ 140,654.00 February 1, 2014 February 1, 2014 - January 31, 2015 126,715 SF x $1.17 SF/NNN $ 148,257.00 February 1, 2015 February 1, 2015 - January 31, 2016 126,715 SF x $1.21 SF/NNN $ 153,325.00 February 1, 2016 February 1, 2016 - January 31, 2017 126,715 SF x $1.25 SF/NNN $ 158,394.00 February 1, 2017 February 1, 2017 - January 31, 2018 126,715 SF x $1.28 SF/NNN $ 162,195.00 February 1, 2018 February 1, 2018 - January 31, 2019 126,715 SF x $1.32 SF/NNN $ 167,264.00 February 1, 2019 February 1, 2019 - January 31, 2020 126,715 SF x $1.36 SF/NNN $ 172,332.00 February 1, 2020 February 1, 2020 - July 31, 2021 126,715 SF x $1.40 SF/NNN $ 177,401.00 February 1, 2021 February 1, 2021 - July 31, 2022 126,715 SF x $1.44 SF/NNN $ 182,470.00 February 1, 2022 February 1, 2022 - July 31, 2023 126,715 SF x $1.48 SF/NNN $ 187,538.00 February 1, 2023 February 1, 2023 - July 31, 2024 126,715 SF x $1.52 SF/NNN $ 192,607.00
Adjustment of Base Rent. Beginning on the first day of the 13th full calendar month after the Lease Commencement Date and on each anniversary date thereafter during the Lease Term (“Adjustment Date”), Base Rent shall increase automatically and without notice as provided for in the Basic Lease Provisions. Tenant thereafter shall pay the monthly installments of Base Rent due under this Lease at the increased rate until the next Adjustment Date.
Adjustment of Base Rent. Commencing on January 1, 2007, and on each January 1 thereafter (each an "Adjustment Date") during the term of this Lease, the Base Rent shall be increased, if any, by an amount equal to the greater of (A) two and one-half percent (2.5%) per annum of the prior year's Base Rent, or (B) the percentage by which the CPI in effect on the Adjustment Date shall have increased over the CPI figure in effect on the then just previous Adjustment Date. If the previous year's Base Rent is for a partial year, it shall be annualized. In the event the Total Development Costs are adjusted and increased by the Total Development Costs Adjustment, then all calculations of Base Rent shall be adjusted accordingly.
Adjustment of Base Rent. The Base Rent provided for herein includes a component applicable to Basic Cost (as hereinafter defined) equal, on a per annum basis, to the actual Operating Expenses (defined below) of the Complex (defined below) for the calendar year 2014 (the “Base Year”) per square foot of rentable area of office space in the Complex, such amount being hereinafter referred to as “Base Operating Expense”.
Adjustment of Base Rent. On the first anniversary of the Commencement Date of this Lease and on each subsequent anniversary of the Commencement Date during the Lease Term (each such anniversary date is referred to as an “Adjustment Date”), the Base Rent per square foot of Rentable Area of the Premises shall be increased by an amount equal to three percent (3%) of the Base Rent, expressed as an amount per square foot of Rentable Area, payable by Tenant hereunder during the twelve month period immediately preceding such Anniversary Date. Landlord shall notify Tenant of the adjusted Base Rent prior to each Anniversary Date and Tenant shall pay the increased Base Rent in equal monthly installments on the first day of each calendar month beginning on such Anniversary Date and continuing until the Base Rent is further increased hereunder. Said adjustments of the Base Rent shall not limit any subsequent rent adjustments pursuant to Article 5 hereof.
Adjustment of Base Rent. The initial base rent set forth above has been computed at the per square foot rates set forth above, assuming that the Premises consist of 33,000 square feet. The actual number of square feet in the Premises shall be determined by Landlord from "As Built" measurements of the Building and Premises, and shall be accomplished by measuring from the exterior face of the exterior walls of the Building. Once such measurements are accomplished, Landlord and Tenant shall execute an addendum to lease to confirm the actual square footage of the Premises and to establish the monthly base rent for the Premises by multiplying the actual square footage of the Premises times the per square foot rent set forth above.
Adjustment of Base Rent. In the event that Tenant exercises its right to lease any Offer Space under Section 1.1(d) and/or exercises its Extension -------------- Option under Section 2.1(b), the Base Rent for such space or such period shall -------------- be determined as follows:
