Common use of Fixed Base Rent Clause in Contracts

Fixed Base Rent. (a) Lessee shall pay to Lessor a fixed rent (“Fixed Base Rent”) during the Term without notice or (other than the notice set forth in Section 3.1(a)(iii)) demand in equal monthly installments in advance due upon the first (1st) day of each month from the Commencement Date to the Initial Term Expiration Date and, as applicable, the Renewal Term Expiration Date at the following annual rates (subject as applicable to the provisions of Section 9.1(l)). (i) For the purposes set forth herein, the Lease Year 1 means the period from the Commencement Date to December 31 of the year in which the Commencement Date occurs, and each Lease Year thereafter shall mean the associated successive calendar year following, with Lease Year 34 ending on December 31 of the thirty-third (33rd) calendar year after December 31 of the Lease Year in which the Commencement Date occurs and, should the Renewal Term then be in effect, Lease Year 44 ending on December 31 of the forty-third (43rd) calendar year after December 31 of the Lease Year in which the Commencement Date occurs.