Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided that Tenant is not in default under this Lease, Tenant shall be entitled to an abatement (the "Base Rent Abatement") of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base Rent Abatement Period"), for a total Base Rent Abatement amount equal to $1,520,993.95 in the aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter into this Lease and comply with the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, or if this Lease is terminated for any reason other than Landlord's breach of this Lease, then the dollar amount of the unapplied portion of the Base Rent Abatement as of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Appears in 1 contract
Sources: Lease (Sorrento Therapeutics, Inc.)
Abated Base Rent. Notwithstanding any provision anything to the contrary contained in herein (specifically including Section 3.1 3.2(i), above, ) and provided that Tenant is not in default under faithfully performs all of the terms and conditions of this Lease, Tenant shall be entitled Landlord hereby agrees to an abatement (the "▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent Abatement"for the six (6) of one hundred percent (100%) of month period commencing August 1, 2010, and ending January 31, 2011. In connection with the foregoing, the Base Rent otherwise due for the Premises Abatement provided to Tenant pursuant to this Section 3.3 during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base Rent Abatement Period"Period shall not exceed an aggregate Three Hundred Nine Thousand Six Hundred and 00/100 Dollars ($309,600.00), for a total Base Rent Abatement amount equal to $1,520,993.95 in the aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter into this Lease and comply with Additionally, notwithstanding the terms and conditions otherwise required under this Lease. If foregoing, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in default under this LeaseSection 4.1, or if this Lease is terminated for any reason other than Landlord's breach of this Leasebelow, then the dollar amount of the unapplied portion of during the Base Rent Abatement Period. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Article 19, below, then as a part of the date of such default or terminationrecovery set forth in Section 19.2, as the case may bebelow, Landlord shall be converted entitled to a credit to be applied to recover the monthly Base Rent applicable at that was abated under the end provisions of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in fullthis Section 3.3.
Appears in 1 contract
Sources: Office Lease (Volcano Corp)
Abated Base Rent. Notwithstanding any provision to Provided that no event of default is occurring during the contrary contained in Section 3.1 above, provided that Tenant is not in default under this Lease, Tenant shall be entitled to an abatement seven (7) month period commencing on the "Base Rent Abatement"first (1st) of one hundred percent (100%) day of the Base Rent otherwise due for first (1st) full calendar month of the Premises during Lease Term and ending on the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), last day of the seventh (7th) and eighth (8th) full calendar months month of the Lease Term (collectively, the "“Base Rent Abatement Period"”), for a total Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount equal to of the Base Rent Abatement equals One Hundred Seventy-Two Thousand Two Hundred Thirty-Three and 60/100 Dollars (i.e., $1,520,993.95 in the aggregate24,604.80 per month). Tenant acknowledges and agrees that during such the Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses increases shall be payable calculated without regard to such Base Rent Abatement. Additionally, Tenant shall be obligated to pay all “Additional Rent” (as that term is defined in Section 4.1 of this Lease) during the Base Rent Abatement Period without regard to Period. Tenant acknowledges and agrees that the Base Rent Abatement. The foregoing Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Lease, and comply with for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, or if this Lease Lease, is terminated for any reason other than Landlord's ’s breach of this Lease, then the dollar amount of the unapplied portion of the Base Rent Abatement as of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant, and shall only apply to the extent that the Original Tenant (and not any assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.
Appears in 1 contract
Abated Base Rent. Notwithstanding any provision to the contrary contained provisions set forth in this Article 3 and in Section 3.1 above, provided that Tenant is not in default under this Lease4 of the Summary, Tenant shall not be entitled obligated to an abatement (pay the "monthly installments of Base Rent Abatement") attributable to the Premises for the first two full calendar months of one hundred percent (100%) the Lease Term, and then shall be obligated to pay only one-half of the Base Rent otherwise due attributable to the Premises for the Premises during the second (2nd)third, third (3rd)fourth, fourth (4th), fifth (5th)fifth, sixth (6th), and seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "“Base Rent Abatement”; such period of abatement hereinafter referred to as the “Base Rent Abatement Period"”), for a total which Base Rent Abatement amount equal Period is anticipated to run from December 1, 2016 through June 30, 2017. In connection with the foregoing, but subject to the express provisions of this Section 3.2, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Four Hundred Eighty-Seven Thousand Three Hundred Nineteen and 60/100 Dollars ($1,520,993.95 487,319.60) (i.e., $108,293.25 per month during the first and second full calendar months of the Lease Term, and $54,146.62 per month during the third through and including the seventh full calendar months of the Lease Term). Notwithstanding the foregoing, if (a) Landlord delivers Phase One to Tenant Ready for Occupancy on or before the Phase One Anticipated Delivery Date, then Tenant shall lose one full month of Base Rent Abatement, and/or (b) Landlord delivers Phase Two to Tenant Ready for Occupancy on or before the Phase Two Anticipated Delivery Date, then Tenant shall lose one full month of Base Rent Abatement (i.e., a maximum of two full months of lost Base Rent Abatement). Conversely, if (c) Landlord fails to deliver Phase One to Tenant Ready for Occupancy on or before the Phase One Anticipated Delivery Date; provided, however, that such Phase One Anticipated Delivery Date shall be deemed extended by one (1) day for each day of Tenant Delay including any delay by Tenant in adhering to the development schedule attached hereto as Schedule 2 of Exhibit B and Force Majeure delays (but excluding delays in obtaining required governmental permits within the time periods set forth in the aggregatedevelopment schedule), then Tenant shall be entitled to receive one additional full month of Base Rent Abatement, and/or (d) Landlord fails to deliver Phase Two to Tenant Ready for Occupancy on or before the Phase Two Anticipated Delivery Date; provided, however, that such Phase Two Anticipated Delivery Date shall be deemed extended by one (1) day for each day of Tenant Delay (including any delay by Tenant in adhering to the development schedule) and Force Majeure delays (but excluding delays in obtaining required governmental permits within the time periods set forth in the development schedule), then Tenant shall be entitled to receive one additional full month of Base Rent Abatement (i.e., a maximum of two full months of additional Base Rent Abatement). By way of example only, (x) if Landlord delivers Phase One on or before the Phase One Anticipated Delivery Date and delivers Phase Two on or before the Phase Two Anticipated Delivery Date, then Tenant shall lose two full months of Base Rent Abatement, which shall be the first and second full calendar months of the Lease Term, (y) if Landlord fails to deliver Phase One on or before the Phase One Anticipated Delivery Date and fails to deliver Phase Two on or before the Phase Two Anticipated Delivery Date, then Tenant shall be entitled to receive two full months of additional Base Rent Abatement, which shall be the eighth and ninth full calendar months of the Lease Term, and (z) if Landlord delivers Phase One on or before the Phase One Anticipated Delivery Date but fails to deliver Phase Two on or before the Phase Two Anticipated Delivery Date, or vice versa, then there shall be no change in the amount of Base Rent Abatement, because the two events shall offset each other. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses (if any) shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Additionally, notwithstanding the foregoing, Tenant shall remain and be obligated to pay during the Base Rent Abatement right set forth Period: (i) all “Additional Rent,” as that term is defined in this Section 3.2 4.1, below; and (ii) any “Additional Monthly Base Rent,” as that term is defined in Section 2.2 of the Work Letter. The foregoing Base Rent Abatement has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Lease, and comply with for agreeing to pay the Rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default Economic Default or Material Non-Economic Default under this LeaseLease at any time during the Base Rent Abatement Period beyond the expiration of all applicable notice and cure periods, or if this Lease is terminated for any reason other than Landlord's breach of this Leaseany, then the dollar amount of the unapplied unamortized portion of the Base Rent Abatement as of granted to Tenant pursuant to this Section 3.2 may be considered when determining the date of such default or termination, as the case may be, shall be converted remedies available to a credit to be applied Landlord pursuant to the Base Rent applicable at the end terms of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in fullArticle 19 of this Lease.
Appears in 1 contract
Abated Base Rent. Notwithstanding any provision anything in this Lease to the contrary contained in Section 3.1 abovecontrary, provided that Tenant is not in default under this Leaseso long as there exists no uncured monetary or material non-monetary Event of Default, Tenant shall be entitled to an abatement of Monthly Installment of Rent with respect to the Expansion Premises in the amount of $79,292.50 per month (and prorated for any partial month) for the period commencing on January 1, 2016 and continuing through March 31, 2016 (the "Base Rent Abatement") of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base “Rent Abatement Period"”). The maximum total amount of Monthly Installment of Rent abated with respect to the Expansion Premises in accordance with the foregoing shall equal $237,877.50 (the “Abated Monthly Installment of Rent”). If Landlord terminates this Lease following the occurrence of an Event of Default, for a total Base then all unamortized Abated Monthly Installment of Rent (i.e. based upon the amortization of the Abated Monthly Installment of Rent in equal monthly amounts, without interest, during the period commencing on the day immediately following the expiration of the Rent Abatement amount equal Period and ending on the original Termination Date) shall immediately become due and payable. Only Monthly Installment of Rent shall be abated pursuant to $1,520,993.95 this Section, as more particularly described herein, and Tenant’s Proportionate Share of Expenses, Insurance Costs and Taxes and all other rent and other costs and charges specified in the aggregateLease, as amended, shall remain as due and payable pursuant to the provisions of the Lease, as amended. Tenant acknowledges and agrees that If there exists any uncured monetary or material non-monetary Event of Default at any time during such Base the Rent Abatement Period, such abatement then Tenant’s right to receive the Abatement Monthly Installment of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter into this Lease toll (and comply with the terms and conditions otherwise required under this Lease. If Tenant shall be required to pay Monthly Installment of Rent during such period of uncured Event of Default) until Tenant has cured such Event of Default in default under accordance with this Lease, or if this Lease is terminated for any reason other than Landlord's breach of this Lease, then the dollar amount of the unapplied portion of the Base Rent Abatement as of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Appears in 1 contract
Sources: Lease (Ellie Mae Inc)
Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided Provided that Tenant is not then in default under of this Lease, Tenant shall be entitled to an abatement beyond any applicable notice and cure periods, then for the period commencing on August 1, 2015 and continuing through and including November 30, 2015 (the "Base Rent Abatement") of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base “Rent Abatement Period"”), for a total Tenant shall not be obligated to pay Base Rent Abatement amount equal (the “Rent Abatement”), except that, notwithstanding the foregoing, Tenant shall remain obligated to $1,520,993.95 pay, in accordance with the aggregateterms of this Lease, (i) Tenant’s Share of Operating Expenses attributable to utilities, heating and air conditioning provided by Landlord to the Premises (in addition to any amounts payable by Tenant pursuant to Section 6.2 below), and (ii) any and all taxes and other charges as set forth in Section 4.5 below. Tenant acknowledges and agrees that during such Base the foregoing Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease and comply with for agreeing to pay the Rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, or beyond any applicable notice and cure periods, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease is terminated for any reason other than Landlord's breach of and Landlord thereafter terminates 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, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to this Lease from the date such Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of the Base Rent Abatement as of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The total amount of Base Rent abated during the Rent Abatement Period shall not exceed $583,259.60 (i.e., $145,814.90 per month).
Appears in 1 contract
Sources: Office Lease (ZS Pharma, Inc.)
Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided that Tenant is not in default under this Lease, Tenant shall be entitled to an abatement (the "“Base Rent Abatement"”) of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), ) and seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "“Base Rent Abatement Period"”), for a total Base Rent Abatement amount equal to $1,520,993.95 1,380,366.00 in the aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter into this Lease and comply with the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, or if this Lease is terminated for any reason other than Landlord's ’s breach of this Lease, then the dollar amount of the unapplied portion of the Base Rent Abatement as of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Appears in 1 contract
Sources: Lease (Sorrento Therapeutics, Inc.)
Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided Provided that Tenant is not then in default under this of the Lease, after expiration of any applicable notice and cure periods, then (i) during the six (6) month period commencing on the Phase I Premises Commencement Date and ending on date that is six (6) months thereafter (the “Initial Rent Abatement Period”), Tenant shall not be entitled obligated to an abatement pay any Base Rent otherwise attributable to the Phase I Premises during such Rent Abatement Period, and (ii) during the six (6) month period from the end of the Initial Rent Abatement Period and ending on the day that is twelve (12) months after the Lease Commencement Date (the "Base Rent Abatement") of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base Second Rent Abatement Period"), for a total Tenant shall be obligated to pay Base Rent with respect to the Phase I Premises as if the Phase I Premises contained only 32,534 RSF (i.e., the Base Rent payable during the Second Rent Abatement amount Period shall be equal to $1,520,993.95 in 92,721 per month) (the aggregateabated rent for the Initial Rent Abatement Period and Second Rent Abatement Period, collectively, the “Rent Abatement”). Tenant acknowledges and agrees that during such Base the foregoing Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Lease, and comply with for agreeing to pay the Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in default under the Lease, after expiration of any applicable notice and cure period, or if the Lease is terminated as a result of an Event of Default by Tenant, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, or if this Lease is terminated for any reason other than Landlord's breach of this Lease, then that the dollar amount of the unapplied portion of the Base Rent Abatement as of the date of such default or termination, as the case may be, termination shall be converted to a credit to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying pay Base Rent for the Phase I Premises in full.
Appears in 1 contract
Sources: Office Lease (Zeltiq Aesthetics Inc)
Abated Base Rent. Notwithstanding any provision to the contrary contained provisions set forth in this Article 3 and in Section 3.1 above, provided that Tenant is not in default under this Lease4 of the Summary, Tenant shall not be entitled obligated to an abatement (pay the "monthly installments of Base Rent Abatement"attributable to the Premises for the first two (2) full calendar months of one hundred percent the Lease Term, and then shall be obligated to pay only one-half (100%1/2) of the Base Rent otherwise due attributable to the Premises for the Premises during the second (2nd), third (3rd), fourth (4th), ) and fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "“Base Rent Abatement”; such period of abatement hereinafter referred to as the “Base Rent Abatement Period"”), for a total which Base Rent Abatement amount equal to Period shall run from December 1, 2016 through April 30, 2017. The Base Rent Abatement shall not exceed an aggregate of Three Hundred Seventy-Nine Thousand Twenty-Six and 36/100 Dollars ($1,520,993.95 in 379,026.36) (i.e., $108,293.25 per month during the aggregatefirst and second full calendar months of the Lease Term, and $54,146.62 per month during the third (3rd) through and including the fifth (5th) full calendar months of the Lease Term). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses (if any) shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Additionally, notwithstanding the foregoing, Tenant shall remain and be obligated to pay during the Base Rent Abatement right set forth Period all “Additional Rent,” as that term is defined in this Section 3.2 4.1. The foregoing Base Rent Abatement has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Lease, and comply with for agreeing to pay the Rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default Economic Default or Material Non-Economic Default under this LeaseLease at any time during the Base Rent Abatement Period beyond the expiration of all applicable notice and cure periods, or if this Lease is terminated for any reason other than Landlord's breach of this Leaseany, then the dollar amount of the unapplied unamortized portion of the Base Rent Abatement as of granted to Tenant pursuant to this Section 3.2 may be considered when determining the date of such default or termination, as the case may be, shall be converted remedies available to a credit to be applied Landlord pursuant to the Base Rent applicable at the end terms of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in fullArticle 19 of this Lease.”
Appears in 1 contract
Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided that Tenant is not in default under this Leaseforegoing, Tenant shall not be entitled required to an abatement (the "Base Rent Abatement") pay monthly installments of one hundred percent (100%) of the Base Rent otherwise due attributable to the Premises for the Premises during the second initial four (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th4) full calendar months of the Lease Term (collectively, the "“Base Rent Abatement Period"”), for a total Base Rent Abatement amount equal to $1,520,993.95 in the aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent which period shall have no effect on the calculation of any Direct Expenses payable by Tenant be determined pursuant to the terms of this LeaseSection 3.2. If the Lease Commencement Date occurs on the first day of a calendar month, which Direct Expenses shall be payable during then the Base Rent Abatement Period without regard to shall commence on the Lease Commencement Date and expire on the last day of the fourth (4th) month of the Lease Term. If, however, the Lease Commencement Date occurs on a day other than the first day of a calendar month, then, the Base Rent AbatementAbatement Period shall commence on the first day of the first (1st) full calendar month of the Lease Term and expire on the last day of the fourth (4th) full calendar month of the Lease Term. The amount of the Abated Monthly . Base Rent shall be Thirty Thousand One Hundred Fifty-Three and 70/100 Dollars ($30,153.70) per month for each of the four (4) months of the Base Rent Abatement right set forth Period and shall not exceed a total of One Hundred twenty Thousand Six Hundred Fourteen and 80/100 Dollars ($120,614.80) in this Section 3.2 the aggregate. The foregoing Abated Monthly Base Rent has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Lease, and comply with for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default of this Lease during the Base Abatement Period and shall fail to cure such default within the notice and cure period, if any, permitted for such cure pursuant to 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, one or if both of the following remedies: (i) that Tenant shall immediately become obligated to repay the Landlord all Base Rent abated hereunder to date, with interest as provided pursuant to this Lease is terminated from the date such Base Rent would have otherwise been due but for any reason other than Landlord's breach of this Leasethe abatement provided herein, then or (ii) that the dollar amount of the unapplied portion of the such Abated Monthly Base Rent Abatement as of 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 Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.. 621575.04/WLA B0452-039/11-6-07/sb/sb -▇- ▇▇▇▇ ▇▇▇▇▇▇▇ PLAZA [BrightSource Energy, Inc.]
Appears in 1 contract
Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided Provided that Tenant is not then in default under of this Lease, Tenant shall be entitled to an abatement beyond any applicable notice and cure periods, then for the period commencing on the first day of Lease Month 1 and ending on the expiration of Lease Month 12 (but excluding the remainder of the calendar month in which the Lease Commencement Date occurs if the Lease Commencement Date falls on other than the first day of such month) (the "Base Rent Abatement") of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base Rent Abatement Period"), for a total Tenant shall not be obligated to pay Base Rent which would otherwise be payable under Section 3.1 above with respect to such Rent Abatement amount equal Period (the "Rent Abatement"), except that, notwithstanding the foregoing, Tenant shall remain obligated to $1,520,993.95 pay all of its other monetary obligations under this Lease with respect to the Rent Abatement Period other than such Rent Abatement, including, without limitation, (i) Tenant's Share of Operating Expenses, (ii) Tenant's costs and expenses attributable to utilities, heating and air conditioning provided to the Premises (in the aggregateaddition to any amounts payable by Tenant pursuant to Section 6.2 below), and (iii) any and all taxes and other charges as set forth in Section 4.5 below. Tenant acknowledges and agrees that during such Base the foregoing Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. The Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease and comply with for agreeing to pay the Rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in default under this Lease, or beyond any applicable notice and cure periods, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, and this Lease is terminated for any reason other than Landlord's breach by Landlord under Article 19 as a result of such default, then as a part of the recovery set forth in Section 19.2.2 of this Lease, then Landlord shall be entitled to the dollar amount recovery of the unapplied unamortized portion of the Base Rent Abatement as of the date of such default or termination, as termination (and for this purpose only the case may be, Rent Abatement shall be converted to a credit to be applied to amortized in equal monthly installments without interest over the portion of the initial Lease Term commencing upon expiration of the Rent Abatement Period). The total amount of Base Rent applicable at abated during the end of the Lease Term and Tenant Rent Abatement Period shall immediately be obligated to begin paying Base Rent for the Premises in fullnot exceed $2,473,696.80 (i.e., $206,141.40 per month).
Appears in 1 contract
Sources: Lease (Veeco Instruments Inc)
Abated Base Rent. Notwithstanding any provision to the contrary contained in Section 3.1 above, provided Provided that Tenant is not then in monetary or material non-monetary default under this the Lease, as hereby amended, beyond any applicable notice and cure period, Tenant shall not be entitled required to an abatement pay any Base Rent attributable to the Premises (the "Base Rent Abatement") of one hundred percent (100%) of the Base Rent otherwise due for the Premises during the second two (2nd)2) month period commencing on February 1, third 2015 and ending on March 31, 2015 (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th) and eighth (8th) full calendar months of the Lease Term (collectively, the "Base Rent Abatement Period"), for a total Base Rent Abatement . Landlord and Tenant acknowledge that the aggregate amount equal to $1,520,993.95 in the aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatementequals One Million Two Hundred Ninety-Nine Thousand Nine Hundred Seventy-Two and 80/100 Dollars ($1,299,972.80) (i.e., Six Hundred Forty-Nine Thousand Nine Hundred Eighty Six and 40/100 Dollars ($649,986.40) per month). The foregoing Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Third Amendment and comply with for agreeing to pay the Rent, and perform the terms and conditions 723517.06/WLA214064-00020/7-15-14/pjr 3 12400 HIGH BLUFF DRIVEThird Amendment[AMN Healthcare, Inc.] Exhibit 10.1 otherwise required under this the Lease, as hereby amended. If Tenant shall be in monetary or material non-monetary default under this the Lease, or as hereby amended, and shall fail to cure such default within the notice and cure period, if this Lease is terminated for any reason other than Landlord's breach of this any, permitted under the Lease, as hereby amended, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, as hereby amended, that the dollar amount of the unapplied portion of the Base Rent Abatement as of the date of such default or termination, as the case may be, termination shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Extended Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Appears in 1 contract
Abated Base Rent. Notwithstanding any provision Provided that no event of economic or material non-economic default is occurring (beyond the applicable notice and cure periods) during the periods comprising (i) the six (6) month period commencing on August 1, 2013, and ending on January 31, 2014 (the “Initial Base Rent Abatement Period”), and (ii) the five (5) month fifteen (15) day period commencing on July 1, 2018, and ending on December 15, 2018 (the “Subsequent Base Rent Abatement Period”) (the Initial Base Rent Abatement Period and the Subsequent Base Rent Abatement Period shall be collectively referred to as the contrary contained in Section 3.1 above, provided that Tenant is not in default under this Lease“Base Rent Abatement Period”), Tenant shall not be entitled obligated to an abatement pay any Base Rent otherwise attributable to the Premises during such Base Rent Abatement Period (the "“Base Rent Abatement") of one hundred percent (100%) ”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent otherwise due for the Premises Abatement equals One Million Six Hundred Forty-Four Thousand Six Hundred Sixty-Nine and 60/100 Dollars ($1,644,669.60) (i.e., One Hundred Thirty-Two Thousand One Hundred Thirty-Nine and 00/100 Dollars ($132,139.00) per month during the second Initial Base Rent Abatement Period and One Hundred Fifty-Four Thousand Eight Hundred Seventy-Nine and 20/100 Dollars (2nd), third (3rd), fourth (4th), fifth (5th), sixth (6th), seventh (7th$154,879.20) and eighth (8th) full calendar months of per month during the Lease Term (collectively, the "Subsequent Base Rent Abatement Period"), for a total Base Rent Abatement amount equal to $1,520,993.95 in the aggregate. Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent for the Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of this Lease, which Direct Expenses increases shall be payable calculated without regard to such Base Rent Abatement. Additionally, Tenant shall be obligated to pay all “Additional Rent” (as that term is defined in Section 4.1 of this Lease) during the Base Rent Abatement Period without regard to Period. Tenant acknowledges and agrees that the Base Rent Abatement. The foregoing Base Rent Abatement right set forth in this Section 3.2 has been granted to Tenant as additional consideration for Tenant’s agreement to enter entering into this Lease Lease, and comply with for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default under this Lease and shall fail to cure such economic or material non-economic default within the notice and cure period, if any, permitted for cure pursuant to this Lease, or if this Lease Lease, is terminated for any reason other than Landlord's ’s breach of this Lease, then the dollar amount of the unapplied portion of the Base Rent Abatement as of 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 at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full. The foregoing Base Rent abatement right set forth in this Section 3.2 shall be personal to the Original Tenant and any of its Permitted Transferee Assignees and shall only apply to the extent that the Original Tenant or any of its Permitted Transferee Assignees (and not any other assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period.
Appears in 1 contract
Sources: Office Lease (Accelrys, Inc.)