Common use of Abated Base Rent Clause in Contracts

Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (6) month period commencing on November 1, 2011 and ending on April 30, 2012 (the “Base Rent Abatement Period”). In connection with the foregoing, 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 Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). 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 any Direct Expenses shall be payable during the Base Rent Abatement Period without regard to the Base Rent Abatement. Additionally, notwithstanding the foregoing, Tenant shall be obligated to pay all “Additional Rent,’’ as that term is defined in Section 4.1, below, during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent 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 Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%).

Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and anything in Section 4 4.1.2.1, above, to the contrary, so long as there exists no monetary or material non-monetary Event of the SummaryDefault, Tenant shall not be obligated to pay (and therefore shall not pay) the monthly installments of any Base Rent attributable to the Premises (the “Base Rent Abatement”specifically disregarding any First Offer Space leased by Tenant under this Eighth Amendment, if applicable) for the six months of February, 2022, March, 2022 and April, 2022 (6) month period commencing on November 1such period, 2011 and ending on April 30, 2012 (the “Base Extended Term Rent Abatement Period”). In connection with , and the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate total amount of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that during such Base Rent Abatement Period, such abatement of Base Rent shall have no effect on credit to be referred to herein as the calculation of any Direct Expenses payable by Tenant pursuant to the terms of this Lease, which any Direct Expenses shall be payable during the Base “Total Extended Term Rent Abatement Period without regard Amount”). At Tenant’s option, by notice to the Base Rent Abatement. AdditionallyLandlord prior to February 1, notwithstanding the foregoing2022, Tenant shall be obligated have the right to pay all utilize any unapplied portion of the Total Extended Term Rent Abatement Amount as an addition to the “Additional RentExtended Term Tenant Improvement Allowance,’’ ” as that term is defined in Section 4.15.1 of this Eighth Amendment. Any portion of the Total Extended Term Rent Abatement Amount utilized as an addition to the Extended Term Tenant Improvement Allowance shall not be provided as a credit against monthly Base Rent hereunder and shall shorten (or eliminate, below, during if applicable) the Base Extended Term Rent Abatement Period. The foregoing Further, in no event shall Landlord, pursuant to the terms of this Section 4.1.2.2, provide an aggregate amount in excess of the Total Extended Term Rent Abatement Amount for application to monthly Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for Tenant’s agreement to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent 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 Term and Tenant shall immediately be obligated to begin paying Base Rent due for the Premises in full; provided however, and as an addition to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period of sixty (60) months, employing an interest factor of zero percent (0%)Extended Term Tenant Improvement Allowance.

Abated Base Rent. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 conflicting provision of the SummaryLease or this First Amendment, Tenant shall provided that no event of Default then exists and is not be obligated to pay cured within any applicable cure period provided in the Lease, during the seven (and therefore shall not pay) the monthly installments of Base Rent attributable to the Premises (the “Base Rent Abatement”) for the six (67) month period commencing on November June 1, 2011 2013 and ending on April 30December 31, 2012 2013 (the “Base Rent Abatement Period”). In connection with the foregoing, the Tenant shall not have any obligation to pay any Base Rent Abatement provided attributable to Tenant pursuant to this Section 3.2 during the Base Rent Abatement Period shall not exceed an aggregate of Two Hundred Twenty-Four Thousand Six Hundred Twenty-Eight and 48/100 Dollars ($224,628.48). Tenant acknowledges and agrees that Original Premises or the Substitute Premises, as applicable, during such Base Rent Abatement PeriodPeriod (the “Base Rent Abatement”). Landlord and Tenant acknowledge that the aggregate amount of the Base Rent Abatement equals $435,103.06 (i.e., $62,157.58 per month). Notwithstanding such abatement of Base Rent shall have no effect on the calculation of any Direct Expenses payable by Tenant pursuant to the terms of (a) all other sums due under this Lease, which any Direct Expenses including Additional Rent, shall be payable during as provided in this Lease, and (b) any increases in Base Rent set forth in the Lease (as hereby amended) shall occur on the dates scheduled therefor. The Base Rent Abatement Period without regard to provided for in this Section 6.3 is conditioned upon Tenant’s full and timely performance of all of its obligations under the Base Rent AbatementLease (as hereby amended). Additionally, notwithstanding the foregoing, If Tenant shall be obligated to pay all “Additional Rent,’’ in Default of the Lease (as that term hereby amended), and such Default is defined not cured within any applicable cure period provided in Section 4.1the Lease, below, at any time during the Base Rent Abatement Period. The foregoing Base Rent Abatement has been agreed to by Landlord and Tenant as additional consideration for entering into this Lease, and for then Tenant’s agreement right to pay the rent and for the parties to perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Economic Default of this Lease and shall fail to cure such default within receive any applicable notice and cure period, then Landlord may elect at its option, by notice to Tenant and in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such Base Rent 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 Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full; provided however, to the extent the Lease is terminated pursuant to the provisions of Article 19, below, then as a part of the recovery set forth in Section 19.2, below, Landlord shall be entitled to recover the then-unamortized portion of the monthly Base Rent that was abated under the provisions of this Section 3.2, which Base Rent Abatement shall be amortized on a level payment basis over a period suspended until the first day of sixty (60) months, employing an interest factor the first calendar month following the date upon which Tenant cured such event of zero percent (0%)Default.