Base Rent Credit. Notwithstanding anything herein to the contrary but subject to Tenant not being in default and all prior rental payments having been received by Landlord not later than the fifth (5th) of each month, the Base Rent (and only the Base Rent) for the calendar month of November 2020 shall be discounted one hundred percent (100%) (the “Base Rent Credit”). Tenant understands and agrees that the foregoing Base Rent Credit is conditioned upon Tenant's not being in breach under this Lease. Accordingly, upon the occurrence of any breach under this Lease, the foregoing Base Rent Credit shall immediately become null and void, and any Base Rent previously credited to Tenant shall immediately become due and payable, and Tenant shall no longer receive any credit on account of such Base Rent Credit.
Base Rent Credit. Provided that a Lease Event of Default is not then occurring, Lessor agrees to provide a Base Rent credit in the amount of $1,500,000.00 ("Rent Credit Amount"), which shall be applied to offset the Base Rent due under the Lease commencing on August 1, 2014 until fully applied; however, Lessor shall have the right, upon five (5) days prior written notice to Lessee, to instead pay the remaining portion of the Rent Credit Amount not already applied to offset the Base Rent directly to Lessee in a lump sum, which lump sum payment shall (i) be increased to include all Privilege Taxes (as defined below) that Lessee shall be required to pay as a result of Lessee making additional Base Rent payments; and (ii) be made within thirty (30) days of the date of such notice. The right to the abatement set forth above shall be personal to American Express Travel Related Services Company, Inc., a New York corporation ("Named Lessee"), and shall not be transferable to any assignee or other transferee of Named Lessee's interest in the Lease.
Base Rent Credit. If the cost to design, permit and construct the Improvements in the Expansion Space is less than the Tenant Improvement Allowance (as the same may be increased pursuant to Section 2.5 above), then Tenant may request by providing written notice ("Request Notice") to Landlord no later than one hundred twenty (120) days following the Expansion Commencement Date, an amount equal to the unused portion of the Tenant Improvement Allowance for the Expansion Space be applied as a credit against Tenant's Base Rent obligations for the Expansion Space ("Rent Credit"). If Tenant timely delivers the Request Notice, the Rent Credit will be applied as a credit to Tenant's monthly Base Rent obligations for the Expansion Space commencing with the first day of the first full month following Landlord's receipt of the Request Notice (but in no event prior to the expiration of the Expansion Space Abatement Period), and continuing thereafter until exhausted. If Tenant timely delivers the Request Notice, Landlord will provide a written notice to Tenant detailing the exact application of the Rent Credit, consistent with Tenant's instructions. If Tenant does not timely provide the Request Notice, Tenant shall not be entitled to any Rent Credit or use of any unused Tenant Improvement Allowance and such unused amount shall instead revert to Landlord.
Base Rent Credit. Notwithstanding anything herein to the contrary but subject to Tenant not being in default beyond any applicable notice and cure period, the Base Rent (and only the Base Rent) for the calendar month of February 2022 shall be discounted one hundred percent (100%) (the “Base Rent Credit”). Tenant understands and agrees that the foregoing Base Rent Credit is conditioned upon Tenant’s not being in breach under this Lease beyond any applicable notice and cure period. Accordingly, upon the occurrence of any breach under this Lease beyond any applicable notice and cure period, the foregoing Base Rent Credit shall immediately become null and void, and any Base Rent previously credited to Tenant shall immediately become due and payable, and Tenant shall no longer receive any credit on account of such Base Rent Credit.
Base Rent Credit. Notwithstanding anything to the contrary contained in the Lease or this Fourth Amendment, Landlord and Tenant hereby agree that Tenant shall receive a credit against Base Rent for the calendar month of September, 2018, in the total amount of Seven Thousand Two Hundred Sixty-Nine and 32/100 Dollars ($7,269.32) as reimbursement to Tenant for over-payment of Base Rent from the Rent Commencement Date to the Effective Date due to mutual mistake in the calculation of the rentable square footage of the original Premises during such period of time prior to this Fourth Amendment.
Base Rent Credit. On the New Commencement Date, in consideration for Lessee waiving (pursuant to PARAGRAPH 2 (l) above) its right to require Lessor to provide separately metered power to certain areas of the Premises, Lessor agrees that Lessee shall receive a $15,000.00 credit against the Base Rent first due and payable thereafter. Lessor and Lessee agree that this credit is not and shall not be deemed an Inducement Provision (as such term is defined in PARAGRAPH 13.3 of the Lease).
Base Rent Credit. In consideration of the transactions relating to the JUMP Facility and the execution and delivery of the JUMP Lease, commencing on January 1, 2014, and continuing each month thereafter for a total of one hundred fifty six (156) consecutive calendar months (inclusive of the month of January, 2014), the then-applicable monthly installment of annual Base Rent under this Lease Agreement shall be reduced by an amount equal to $17,666.67 (the “Base Rent Credit”); provided, that the Base Rent Credit shall terminate immediately and prospectively as of the effective date of a termination of the JUMP Lease pursuant to the exercise by the tenant thereunder of its early termination option under Section 3.05(b) of the JUMP Lease.
Base Rent Credit. Provided that there is not an event of default by Tenant, Landlord shall credit $64,923.00 against the first amounts of Base Rent otherwise becoming due. Landlord shall credit an additional $698.00 per day after November 1, 2004, against the first amounts of Base Rent otherwise becoming due in the event that Landlord is unable to deliver possession of the Premises to Tenant on or before November 1, 2004, due solely to reasons under Landlord’s control.
Base Rent Credit. In the event that after completion of the construction of the Tenant Improvements and Landlord’s last disbursement of the Tenant Improvement Allowance pursuant to Section 2.2 and, if applicable, Section 2.4.1, above, any portion of the Tenant Improvement Allowance remains undisbursed and unallocated (the “Unused Tenant Improvement Allowance”), Tenant shall have the right, by written notice to Landlord, to elect to apply up to Fifty Thousand and 00/100 Dollars ($50,000.00) of any such Unused Tenant Improvement Allowance as a credit against Base Rent next coming due under the Lease, provided that in any given month the amount of such credit shall not exceed fifty percent (50%) of the Base Rent otherwise due and owing for such month.
Base Rent Credit. Notwithstanding anything to the contrary in this Lease, provided Lessee is not in default of any of the terms, covenants and conditions of this Lease, Lessee shall be credited with the payment of Base Rent in the amount of $5,525.00 for the 1st month of the Lease Term and in the amount of $5,525.00 for the 2nd month of the Lease Term. No such Base Rent credit shall reduce the amount of additional rent which is otherwise payable under other provisions of this Lease.
