Common use of Rent Abatement Clause in Contracts

Rent Abatement. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay the monthly installments of Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in full.

Appears in 2 contracts

Samples: Office Lease (Roka BioScience, Inc.), Office Lease (Roka BioScience, Inc.)

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Rent Abatement. Notwithstanding any contrary provisions set forth Provided that the Tenant is not then in this Article 3 and in Section 4 default of the SummaryLease (as hereby amended) and is then in occupancy of the entire Premises, then during the period beginning on second (2'd) month of the Lease Term and ending after the third (3`d) month of the Lease Term (the "Rent Abatement Period"), Tenant shall not be obligated to pay the monthly installments of any Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) otherwise attributable to the Premises for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term such Rent Abatement Period (the "Rent Abatement"). Tenant acknowledges and agrees that during such Rent Abatement Period”). In connection with the foregoing, the such abatement of Base Rent provided to shall have no effect on the calculation of any future increases in Base Rent, Operating Costs or Landlord's Taxes payable by Tenant pursuant to the terms of this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). AdditionallyLease, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant which increases shall be obligated calculated without regard to pay all “Additional such abatement of Base Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses Abatement has been granted to Tenant as additional consideration for entering into this LeaseAgreement, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this the Lease, as amended. If Tenant shall be in economic default or material non-economic default of this under the Lease and shall fail to cure such economic default or material non-economic default within the applicable notice and cure period set forth in this period, if any, permitted for cure pursuant to the Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this the Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to the Lease from the date such Base Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of such abatement of Base the Rent and Tenant’s Share of Direct Expenses Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Second Extended Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in full.

Appears in 2 contracts

Samples: Office Lease (Global Clean Energy Holdings, Inc.), Office Lease (Global Clean Energy Holdings, Inc.)

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth in this Article 3 and in Section 4 of the Summarycontained herein, Tenant shall not be obligated to pay liable for the monthly installments payment of Annual Base Rent or Tenant’s Share” 's Share of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to Operating Costs for that 28,741 square feet of rentable area of the Premises identified as Floor 3 of Building Three (Rental Abatement Space), for the two (2) month period commencing on with the first day of the second (2nd) full calendar month of the Lease Term Commencement Date applicable to such floor and ending on the last day earlier of (a) the commencement of month thirteen (13) after said Commencement Date or (b) the date that Tenant takes beneficial occupancy of the third Rental Abatement Space. Should Tenant occupy less than the full floor prior to the commencement of month thirteen (3rd) full calendar month 13), then the Annual Base Rent and Tenant's Share of Operating Costs set forth for the Rental Abatement Space shall be charged only for that portion of the Lease Term Rental Abatement Space being occupied. Tenant covenants and agrees to notify Landlord immediately at such time as Tenant occupies the Rental Abatement Space. As used herein, "occupancy" means any use of the floor by Tenant for other than installation of furniture, fixtures and equipment; "occupancy" shall include use of the floor for storage or any other business use. Upon commencement of the thirteenth (13th) month after the lease Commencement Date for the Rental Abatement Period”). In connection with the foregoingSpace, the abatement full rent as provided for in this Amended and Restated Lease, shall be due and payable no matter how much of Base Rent provided to Tenant pursuant to this Section 3.2 during the Rental Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00)Space is occupied. Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated permitted to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during sublease the Rental Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing Space per the terms and conditions otherwise required under of Section 19, Assignment or Sublease, and such a sublease shall not constitute occupancy of the Rental Abatement Space as used within this LeaseSection 30. If the Rental Abatement Space is subleased, the rental abatement with respect to the subleased area shall provide only for abatement of Annual Base Rent and Tenant shall be responsible for Tenant's Share of Operating Costs. It is anticipated that Tenant will complete its tenant improvements per the terms of Section 31, Tenant Improvement Allowance, and Exhibit F, Tenant Work Letter, for its entire Premises in a continuous fashion. However, Tenant may elect to delay the improvements to the Rental Abatement Space. If Tenant does delay said improvements, Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable provide Landlord six (6) months prior written notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion desired occupancy date in order to allow for the completion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end tenant improvements of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in fullRental Abatement Space.

Appears in 1 contract

Samples: Office Lease Agreement (F5 Networks Inc)

Rent Abatement. Notwithstanding An “Abatement Event” shall be defined as an event that prevents Tenant from using the Premises or any contrary provisions set forth in this Article 3 portion thereof, as a result of any failure to provide services or access to the Premises, where (i) Tenant does not actually use the Premises or such portion thereof, and in Section 4 (ii) such event is caused by the gross negligence or willful misconduct of the Summary, Landlord. Tenant shall not be obligated to pay give Landlord notice (“Abatement Notice”) of any such Abatement Event, and if such Abatement Event continues beyond the monthly installments of Base Rent or Tenant’s Share” of “Direct ExpensesEligibility Period” (as those terms are defined in Article 4, below) attributable to the Premises for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1below), below, during then the Abatement Period. The foregoing abatement of Base Rent Basic Rental and XxxxxxTenant’s Proportionate Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent Costs and Tenant’s obligation to pay for parking shall be abated entirely or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, and does not use, the Premises or a portion thereof, in the proportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Basic Rental and Tenant’s Proportionate Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent Costs and Tenant’s obligation to pay for parking for the entire Premises shall be abated entirely for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Basic Rental and Tenant’s Proportionate Share of Direct Expenses Costs and Tenant’s obligation to pay for parking allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. The term “Eligibility Period” shall mean a period of five (5) consecutive business days after Landlord’s receipt of any Abatement Notice(s). Such right to xxxxx Basic Rental and Tenant’s Proportionate Share of Direct Costs and Tenant’s obligation to pay for parking shall be Tenant’s sole and exclusive remedy at law or in fullequity for an Abatement Event.

Appears in 1 contract

Samples: Office Lease (Tut Systems Inc)

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth in this Article 3 and contained in Section 4 5 above, provided that the Lease shall then be in full force and effect and no monetary or material non-monetary Event of the SummaryDefault shall be continuing, Tenant shall not be obligated entitled to pay the monthly installments an abatement of Base Rent or in respect of the New Premises only in the amount of $14,532.00 per month from the New Premises Commencement Date through the date immediately preceding the date that is eleven (11) months after the New Premises Commencement Date (such date, the Tenant’s ShareNew Premises Rent Commencement Date,and such period of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises abated Base Rent for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (New Premises, the “New Premises Base Rent Abatement Period”). In connection The amount of Base Rent abated in accordance with this Section 6 (the “New Premises Abated Base Rent”) does not include charges for electric and/or any other Additional Rent; as such, during the New Premises Base Rent Abatement Period, only Base Rent to the extent set forth above shall be abated, and the electric charges as well as all Additional Rent and other costs and charges payable under the Lease shall remain due and payable pursuant to the terms hereof. Notwithstanding the foregoing, the abatement if Tenant cures any such Event of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within Default after the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end Section 21.1 of the Lease Term and if such cure is accepted by Landlord, then Tenant shall immediately again be obligated entitled to begin paying the New Premises Abated Base Rent and to the extent the same accrued but was not applied before such cure is effected by Tenant (i.e., was suspended) as well as any portion thereof accruing after such cure is effected by Tenant’s Share of Direct Expenses for the Premises in full.

Appears in 1 contract

Samples: Lease (Cra International, Inc.)

Rent Abatement. Notwithstanding any anything to the contrary provisions hereinabove set forth, provided this Lease is in full force and effect and Tenant is not in default under this Lease beyond applicable notice and grace periods, the Base Rent set forth in subsection B(x) of this Article 3 and in Section 4 1 shall be abated from the Commencement Date through the day immediately preceding the Rent Commencement Date; provided however, if Tenant subsequently cures any such default prior to a termination of the Summarythis Lease by reason thereof, Tenant shall not thereafter be obligated to pay the monthly installments of Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable entitled to the Premises balance of such abatement not yet applied against the Base Rent. In addition, in the event the Commencement Date does not occur on or prior to the first (1st) day of October, 2003 or on the first (1st) day of any succeeding calendar month for reasons other than a Tenant Delay or strikes or labor troubles, laws, governmental preemption in connection with a National Emergency, by reason of any rule, order or regulation of any federal, state, county or municipal authority or any department or subdivision thereof or any government agency or by reason of the two (2) month period conditions of supply and demand which have been or are affected by war or other emergency, then commencing on the first Rent Commencement Date, the Base Rent shall be further abated on a day of for day basis for each day occurring between the second (2nd) full calendar month of date on which the Lease Term Commencement Date occurs and ending on the last day of the third month in which the Commencement Date occurs, provided that Tenant can establish that Tenant's existing landlord required that Tenant satisfy its complete rent obligation under its existing lease for all or a portion of such month beyond the Commencement Date. By means of illustration only, if the Commencement Date occurs on October 10, 2003, and Tenant's existing landlord requires that Tenant pay rent under its existing lease through October 31, 2003, then the Rent Commencement Date shall be postponed for an additional twenty-one (3rd21) full calendar month of days through October 31, 2004. Tenant shall provide Landlord with such documentation as Landlord shall reasonably request to evidence the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect rental payment made to Tenant’s Share 's existing landlord, including, without limitation, copies of Direct ExpensesTenant's existing lease, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent invoices and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Leasecancelled checks. If Tenant is not required to make a rent payment to its existing landlord for any such period beyond the Commencement Date, then Tenant's rent obligations hereunder shall commence on the Rent Commencement Date. Nothing hereinabove contained shall be in economic or material non-economic default deemed a waiver of this Lease and shall fail Tenant's obligation to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to pay any other remedies Landlord may have sums or charges due and payable under this Lease, that including, without limitation, the dollar amount cost of the unapplied portion Tenant's consumption of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to electric energy in the Premises at the end pursuant to subsection H of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in fullArticle 29 hereof.

Appears in 1 contract

Samples: Agreement of Lease (Lazare Kaplan International Inc)

Rent Abatement. Notwithstanding any contrary provisions set forth If the Building or the Sublease Premises shall be partially destroyed by fire or other cause, the Rents payable hereunder shall be abated in the proportion that the number of square feet of Rentable Area of the Sublease Premises that has been rendered untenantable (which, for purposes of this Article 3 and 11, “untenantable” shall mean either (i) that the Sublease Premises, or a substantial portion thereof, is damaged by such fire or other casualty such that Subtenant cannot conduct its business in Section 4 the Sublease Premises for Subtenant’s Permitted Use as a result thereof or (ii) such fire or other casualty is not in the Sublease Premises or does not affect the Sublease Premises but Subtenant’s access to the Sublease Premises is cutoff as a result of such fire or other casualty) bears to the total Rentable Area of the SummarySublease Premises, Tenant shall not be obligated to pay for the monthly installments period from the date of Base Rent such damage or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable destruction to the date the damage shall be repaired or restored. If the Sublease Premises shall be totally untenantable on account of fire or other cause, the Rent shall xxxxx as of the date of the damage or destruction and until Sublandlord shall repair, restore and rebuild the Building and/or the Sublease Premises and tender possession of the Sublease Premises with all of same (excluding any Subtenant work which had been performed by Subtenant as part of its initial occupancy or as to any subsequent Alterations) substantially completed allowing for the occupancy by Subtenant for Subtenant’s Permitted Use, provided, however, that should Subtenant occupy or reoccupy a portion of the Sublease Premises for the two ordinary conduct of Subtenant’s business during the period the Sublease Premises are made completely untenantable, rents allocable to such portion shall be payable by Subtenant from the date of such occupancy. Notwithstanding any of the foregoing provisions of this Article 11, if Sublandlord or Landlord or the holder of any Superior Mortgage (2as defined in the Lease) month period commencing shall be unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Sublease Premises or the Building by fire or other cause by reason of some negligent or willful action or inaction on the first day part of the second (2nd) full calendar month Subtenant or any of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoingits employees, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionallyagents or contractors, notwithstanding the foregoingthen, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition without prejudice to any other remedies Landlord which may have under this Leasebe available against Subtenant, that there shall be no abatement of Subtenant’s rent until the dollar total amount of such rent not abated which would otherwise have been abated equals the unapplied portion amount of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in fulluncollected insurance proceeds.

Appears in 1 contract

Samples: Sublease Agreement (Sema4 Holdings Corp.)

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth in this Article 3 and in Section 4 Lease contained, if due to (i) any repairs, alterations, replacements, or improvements made by Landlord, (ii) Landlord’s failure to make any repairs, alterations, or improvements required to be made by Landlord hereunder, or to provide any service required to be provided by Landlord hereunder, (iii) failure of electric supply caused by Landlord, or (iv) the presence of any Hazardous Materials not introduced or caused by Tenant or anyone for whom Tenant is legally responsible, any portion of the SummaryPremises is so adversely affected thereby so that for the Premises Untenantability Cure Period, Tenant shall not be obligated to pay as hereinafter defined, the monthly installments continued operation in the ordinary course of Base Rent or “Tenant’s Share” business is adversely affected, then, provided that Tenant ceases to use the affected portion of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises for during the two (2) month period commencing on the first day entirety of the second (2nd) full calendar month Premises Untenantability Cure Period by reason of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Leasesuch adverse effect, and for agreeing to pay the rent that such adverse effect and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail Landlord’s inability to cure such default within condition is not caused by the applicable notice fault or neglect of Tenant or Tenant’s agents, employees or contractors, Annual Fixed Rent and cure period set forth in this LeaseOperating Cost Excess shall thereafter be abated, then Landlord may at its option, by notice retroactively back to Tenant, electthe beginning of the Premises Untenantability Cure Period, in addition proportion to any other remedies Landlord may have under this Leasesuch adverse effect and its impact on the continued operation in the ordinary course of Tenant’s business until the day such condition is completely corrected. For the purposes hereof, the “Premises Untenantability Cure Period” shall be defined as three (3) consecutive business days after Landlord’s receipt of written notice from Tenant of the condition causing such adverse effect in the Premises, provided however, that the dollar amount Premises Untenantability Cure Period shall be five(5) consecutive business days after Landlord’s receipt of the unapplied portion written notice from Tenant of such abatement condition causing such adverse effect in the Premises if either the condition was caused by causes beyond Landlord’s control or Landlord is unable to cure such condition as the result of Base Rent and Tenantcauses beyond Landlord’s Share control. The provisions of Direct Expenses as this clause (C) shall not apply in the event of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in fulladverse effect caused by fire or other casualty, or taking (see Article XIV).

Appears in 1 contract

Samples: Federal Home Loan Bank of Boston

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth contained in this Article 3 and Lease, provided Tenant is not in Section 4 default of the Summarythis Lease, Tenant shall not be obligated to pay the monthly installments of Base Rent due under this Lease (but not any Additional Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, belowother charges due under this Lease) attributable to the Premises shall be abated for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term Commencement Date and ending on the last day immediately prior to the same day of the third seventh (3rd7th) full calendar month of following the Lease Term month in which the Commencement Date occurs (the “Abatement Period). In connection ; such conditional concession being offered to Tenant as an inducement for Tenant to execute this Lease and to occupy the Premises for the entire Term of this Lease, and to comply with the foregoingits agreements contained in this Lease; provided, the abatement however, if Tenant becomes in default under this Lease or otherwise breaches any of Tenant’s obligations under this Lease, then (i) all previously abated Base Rent provided to Tenant pursuant to this Section 3.2 which would have otherwise been payable during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight become immediately due and 00/100 Dollars ($104,748.00). Additionallypayable, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, and Tenant shall be obligated immediately pay to pay Landlord upon demand all “Additional Rent,” as such previously abated Base Rent that term is defined in Section 4.1, below, would otherwise have been payable during the Abatement Period. The foregoing abatement , (ii) if such default occurs prior to the expiration of the Abatement Period, Tenant’s right to axxxx Base Rent shall terminate and Xxxxxx’s Share be of Direct Expenses has been granted to Tenant as additional consideration for entering into this Leaseno further force and effect, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If (iii) Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition have no further right to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in fullrent abatement.

Appears in 1 contract

Samples: Equity Purchase Agreement (True Nature Holding, Inc.)

Rent Abatement. Notwithstanding if the Premises become untenantable and unusable by Tenant as a result of (a) any contrary provisions damage or destruction to the Premises, the parking garage, the Building, and/or the Project, (b) any repair, maintenance or alteration performed by Landlord after the Lease Commencement Date and required or permitted by the Lease, which substantially interferes with Tenant’s use of the Premises, the parking garage, and/or the Building, or (c) any non-availability to Tenant of services or access to the Premises, the parking garage, and/or the Building as required by the terms of this Lease, Tenant shall give Landlord notice (the “Abatement Notice”), specifying such failure to perform by Landlord (the “Abatement Event”). If Landlord does not cure such Abatement Event within five (5) business days of receipt of the Abatement Notice, Tenant may, upon written notice to Landlord, immediately xxxxx Rent payable under this Lease for that portion of the Premises rendered untenantable and not used by Tenant, for the period beginning on the date five (5) business days after the Abatement Notice to the earlier of the date Landlord cures such Landlord Default or the date Tenant recommences the use of such portion of the Premises. Such right to xxxxx Rent shall be Tenant’s sole and exclusive rent abatement remedy at law or in equity for an Abatement Event. Except as provided in this Section 6.4, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. If Landlord has not cured such Abatement Event within six (6) months after receipt of the Abatement Notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such six (6) month period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord (the “Abatement Event Termination Notice”) during such ten (10) business day period, and shall be effective as of a date set forth in this Article 3 and in Section 4 of the SummaryAbatement Event Termination Notice (the “Abatement Event Termination Date”), Tenant which Abatement Event Termination Date shall not be obligated to pay the monthly installments of Base Rent or “Tenant’s Share” of “Direct Expenses” less than thirty (as those terms are defined in Article 430) days, below) attributable to the Premises for the and not more than two (2) month period commencing on months, following the first day delivery of the second Abatement Event Termination Notice. Notwithstanding anything contained in this Section 6.4 to the contrary, Tenant’s Abatement Event Termination Notice shall be null and void (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In but only in connection with the foregoing, the abatement of Base Rent provided to first notice sent by Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share each separate Abatement Event) if Landlord cures such Abatement Event within such thirty (30) day period following receipt of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in fullEvent Termination Notice.

Appears in 1 contract

Samples: Office Lease (Imperial Capital Group, Inc.)

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Rent Abatement. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated have to pay the monthly installments of Base Minimum Monthly Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises for the two first four (24) month period commencing months of the Term (the “Rent Abatement Period”), except as hereinafter provided. If the Commencement Date occurs other than on the first day of a calendar month, the second (2nd) full calendar month Rent Abatement Period shall be the first 120 days from and including the Commencement Date. The Minimum Monthly Rent for the Rent Abatement Period shall be referred to as the “Base Rent Abatement.” Tenant shall be required to pay all other sums under the Lease during the Rent Abatement Period and throughout the Term. Tenant acknowledges that Landlord would not have granted the Base Rent Abatement for the Rent Abatement Period but for Tenant’s agreement to perform all of the terms, covenants, conditions and agreements to be performed by it under this Lease Term for the entire Term, and that Landlord’s agreement to grant such concession is, and shall remain, conditioned upon Tenant’s faithful performance of all of the terms, covenants, conditions and agreements to be performed by Tenant under this Lease for the entire Term. Notwithstanding anything in this paragraph to the contrary, if Tenant defaults under this Lease, after notice and the expiration of the applicable cure period, and as a result thereof Landlord terminates this Lease, then in addition to all other rights and remedies available to Landlord (a) Tenant shall not be entitled to the Base Rent Abatement, and (b) Tenant shall immediately pay to Landlord upon demand a sum equal to the unamortized Base Rent Abatement (i.e. based upon the amortization of the Base Rent Abatement in equal monthly amounts, without interest, during the period commencing on the Commencement Date and ending on the last day original expiration date of the third Term); provided, however, Tenant acknowledges and agrees that nothing in this paragraph is intended to limit any other remedies available to Landlord at law or in equity under applicable law (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoingincluding, without limitation, the abatement of Base Rent provided to remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required defaults under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the beyond any applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in full.period. (b)

Appears in 1 contract

Samples: Office Lease (Quotient Technology Inc.)

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth in this Article 3 First Amendment, provided that no event of default is occurring beyond the expiration of any applicable notice and in Section 4 of cure period, with respect to the SummaryExpansion Base Rent Abatement Period, Tenant shall not be obligated to pay the monthly installments of Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) otherwise attributable to the Expansion Premises for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the "Expansion Base Rent Abatement"). Tenant acknowledges and agrees that during such Expansion Base Rent Abatement Period”). In connection with the foregoing, the such abatement of Base Rent provided to for the Expansion Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate terms of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionallythe Lease, notwithstanding the foregoingas amended, except with respect to Tenant’s Share of Direct Expenses, Tenant which increases shall be obligated calculated without regard to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of such Expansion Base Rent Abatement. Tenant acknowledges and Xxxxxx’s Share of Direct Expenses agrees that the foregoing Expansion Base Rent Abatement has been granted to Tenant as additional consideration for entering into this LeaseFirst Amendment, and for agreeing to pay the rent Base Rent and performing perform the terms and conditions otherwise required under this the Lease, as amended. If Tenant shall be in economic or material non-economic default of this Lease under the Lease, as amended, and shall fail to cure such default within the applicable notice and cure period set forth in this period, if any, permitted for cure pursuant to the Lease, then Landlord may at its optionas amended, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this or if the Lease, that as amended, is terminated for any reason other than Landlord's breach of the Lease, as amended, then the dollar amount of the unapplied portion of such abatement of the Expansion Base Rent and Tenant’s Share Abatement as of Direct Expenses as the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in full. The foregoing Expansion Base Rent Abatement right set forth in this Section 3.2.2 shall be personal to the Original Tenant and its Permitted Transferee Assignee and shall only apply to the extent that the Original Tenant or its Permitted Transferee Assignee (and not any assignee, or any sublessee or other transferee of the Original Tenant's interest in the Lease, as amended) is the Tenant under the Lease, as amended, during such Expansion Base Rent Abatement Period.

Appears in 1 contract

Samples: Office Lease (Evofem Biosciences, Inc.)

Rent Abatement. Notwithstanding any contrary provisions set forth Provided that Tenant is not then in monetary or material non-monetary default of this Article 3 Lease, and in subject to the TCCs of this Section 4 3.2 below, then during the last six (6) full calendar months of the SummaryLease Term with respect to the Building A Premises (the “Rent Abatement Period”), Tenant shall not be obligated to pay the monthly installments of any Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct ExpensesExpenses otherwise attributable to the Building A Premises during such Rent Abatement Period (collectively, the “Abatement Amount”). Tenant shall be obligated to pay all “Additional Rent,” as acknowledges and agrees that term is defined in Section 4.1, below, during the foregoing Rent Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent Rent and performing perform the terms and conditions TCCs otherwise required under this Lease. If Notwithstanding the foregoing, Landlord shall have the right, at Landlord’s option, on a month by month basis commencing on the Building A Lease Commencement Date, to accelerate any remaining Rent Abatement Amount relating to a full month during the Rent Abatement Period for the Building A Premises forward, to apply to the Base Rent and Tenant’s Share of Direct Expenses that would otherwise be due with respect to the next occurring month of the Lease Term for the Building A Premises (the “Landlord Rent Abatement Acceleration Election”), in which case Tenant shall have no obligation to pay Base Rent or Tenant’s Share of Direct Expenses attributable to such next occurring month of the Lease Term for the Building A Premises, and the Rent Abatement Amount that is accelerated forward shall no longer be in economic or material non-economic default of this Lease and shall fail to cure such default within applicable during the applicable notice and cure period set forth in this Lease, then Rent Abatement Period. Landlord may at its optionmake such election on a month by month basis with respect to each of the months of the Rent Abatement Period. In addition, by notice to Tenantcommencing on the Building A Lease Commencement Date, elect, in addition to any other remedies if Landlord may have under this Lease, has not exercised the Landlord Rent Abatement Acceleration Election on or before the date that the dollar amount of the unapplied portion of such abatement next installment of Base Rent and Tenant’s Share of Direct Expenses is due under the Lease, and provided that this Lease has not been terminated as a result of such any default of Tenant or rejection of this Lease in bankruptcy (the “Abatement Condition”), then Tenant shall be converted have the right, at Tenant’s option, on a month by month basis commencing on the Building A Lease Commencement Date, to accelerate any Rent Abatement Amount for the Building A Premises relating to a credit full month during the Rent Abatement Period for the Building A Premises forward to be applied apply to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses that would otherwise be due with respect to the next occurring month of the Lease Term for the Building A Premises in full.(the

Appears in 1 contract

Samples: Office Lease (Box Inc)

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth in this Article 3 and in Section 4 of contained herein, Landlord hereby agrees to conditionally waive the Summary, Tenant shall not be obligated to pay the monthly installments of Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable due with respect to the Premises for the two first three (23) month period commencing on full consecutive calendar months of the Term hereof (the “Base Rent Abatement”). No amounts due to Landlord under the Lease other than the Base Rent referred to above shall be conditionally waived, except as expressly provided to the contrary in the Lease. If the Commencement Date is other than the first day of the second (2nd) of a month, then Tenant shall be responsible for paying any Base Rent for the period commencing on the Commencement Date until the commencement of the first full calendar month of the Lease Term and ending on Term; which such amount shall be prorated based upon the last day actual number of days of the third (3rd) full calendar month involved. Nothing herein shall be construed to waive Tenant’s obligation to pay the first month’s Base Rent upon Tenant’s execution of the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, 4 below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant which such amount shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to payable for the Premises at fourth full calendar month of the end Term. If during the Base Rent Abatement period, Tenant commits a default as defined in Section 13 of the Lease Term which continues beyond the expiration of any applicable notice and Tenant shall immediately be obligated to begin paying cure period, Base Rent coming due thereafter shall not be waived. Furthermore, in the event Landlord is exercising its right to terminate this Lease due to a default by Tenant, all Base Rent that Landlord conditionally waived in the past, as well as all unamortized tenant improvement costs and brokerage commissions incurred by Landlord in connection with this Lease, shall be immediately due and payable by Tenant to Landlord without notice or demand from Landlord. If the Lease expires in accordance with its terms, and does not terminate as a result of a default by Tenant’s Share of Direct Expenses for , Landlord agrees to permanently waive the Premises in fullBase Rent it has conditionally waived.

Appears in 1 contract

Samples: Wilshire Enterprises Inc

Rent Abatement. Notwithstanding any anything to the contrary provisions set forth in this Article 3 and contained in Section 4 5 above, provided that the Lease shall then be in full force and effect and no monetary or material non-monetary Event of the SummaryDefault shall be continuing, Tenant shall not be obligated entitled to pay the monthly installments an abatement of Base Rent or in respect of the Third Amendment Premises only in the amount of $73,456.25 per month from the Third Amendment Premises Commencement Date through the date immediately preceding the date that is ten (10) months after the Third Amendment Premises Commencement Date (such date, the Tenant’s ShareThird Amendment Premises Rent Commencement Date,and such period of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises abated Base Rent for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (Third Amendment Premises, the “Third Amendment Premises Base Rent Abatement Period”). In connection with the foregoing, the abatement The amount of Base Rent provided abated in accordance with this Section 6 (the “Third Amendment Premises Abated Base Rent”) does not include charges for electric and/or any other Additional Rent; as such, during the Third Amendment Premises Base Rent Abatement Period, only Base Rent to Tenant the extent set forth above shall be abated, and the electric charges as well as all Additional Rent and other costs and charges payable under the Lease shall remain due and payable pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionallyterms hereof; provided, however, that notwithstanding the foregoing, except with respect if the Third Amendment Premises Base Rent Abatement Period extends into the calendar year 2021 (i.e., the calendar year following the Base Expense Year and Base Tax Year), then for such portion of the Third Amendment Premises Base Rent Abatement Period extending into 2021, in addition to Base Rent, Tenant’s Tax Payment and Tenant’s Expenses Share of Direct Expensesthe Operating Expenses Excess shall also be abated. Notwithstanding the foregoing, if Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement cures any such Event of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within Default after the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end Section 21.1 of the Lease Term and if such cure is accepted by Landlord, then Tenant shall immediately again be obligated entitled to begin paying the Third Amendment Premises Abated Base Rent and to the extent the same accrued but was not applied before such cure is effected by Tenant (i.e., was suspended) as well as any portion thereof accruing after such cure is effected by Tenant’s Share of Direct Expenses for the Premises in full.

Appears in 1 contract

Samples: Lease (Cra International, Inc.)

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