Fixed Monthly Rent. Tenant shall pay the Fixed Monthly Rent as follows: through $ through $ through $ through $ Notwithstanding the foregoing, Tenant shall be permitted to defer one hundred percent (100%) of the Fixed Monthly Rent due for the second (2nd), third (3rd), and fourth (4th) full calendar months of the initial Term (collectively, the amount of Fixed Monthly Rent deferred shall be referred to herein as the “Rent Deferral Amount”). So long as Tenant has not committed a material default during the Term, which material default continues after the expiration of any notice and cure period, the entire Rent Deferral Amount shall be abated and forgiven as of the Termination Date; provided, however, that if Tenant does commit a material default during the Term, and if such material default continues after the expiration of any notice and cure periods, then, regardless of whether such material default is thereafter cured, (a) Tenant shall pay to Landlord upon demand the entire Rent Deferral Amount due for the months of the Term prior to the occurrence of such material default, and (b) Tenant shall not be entitled to any additional or future deferral of Fixed Monthly Rent. If Tenant does not commit any such material default during the first two (2) years of the initial Term, then Tenant shall thereafter be relieved of any obligation to repay any Rent Deferral Amount. Encino Terrace / Research Solutions, Inc. / MK / December 29, 2016 ____ ____ ____ ____ Initial Initial Initial Initial 3. Since the Commencement Date is other than the first day of the month, the first billing will contain a pro rata adjustment. Each billing thereafter, with the exception of the final billing, shall be for the full amount of the Fixed Monthly Rent as provided for in the Lease. 4. Tenant acknowledges and agrees that Landlord has completed the Improvements for which Landlord was obligated under the Lease to Tenant’s satisfaction, and, as of the Commencement Date, the Premises were in good order and repair. 5. Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in California and that Tenant has full right and authority to execute and deliver this Memorandum and that each person signing on behalf of Tenant is authorized to do so. 6. Failure by Tenant to execute and deliver this Memorandum to Landlord within five (5) business days after receipt hereof shall constitute an acknowledgement by Tenant that the statements included in this Memorandum are true and correct, without exception.
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Fixed Monthly Rent. Tenant shall pay the Fixed Monthly Rent as follows: Commencing on the Commencement Date, and continuing through the last calendar day of the twelfth (12th) full calendar month of the Term $ 10,353.75 Commencing on the first calendar day of the thirteenth (13th) full calendar month of the Term, and continuing through the last calendar day of the twenty-fourth (24th) full calendar month of the Term $ 10,716.13 Commencing on the first calendar day of the twenty-fifth (25th) full calendar month of the Term, and continuing through the last calendar day of the thirty-sixth (36th) full calendar month of the Term $ 11,091.20 Commencing on the thirty-seventh (37th) full calendar month of the Term, and continuing through the last calendar day of the forty-eighth (48th) full calendar month of the Term $ 11,479.39 Notwithstanding the foregoing, Tenant shall be permitted to defer one hundred percent (100%) of the Fixed Monthly Rent due for the second (2nd), third (3rd), and fourth (4th) full calendar months of the initial Term (collectively, the amount of Fixed Monthly Rent deferred shall be referred to herein as the “Rent Deferral Amount”). So long as Tenant has not committed a material default during the Term, which material default continues after the expiration of any notice and cure period, the entire Rent Deferral Amount shall be abated and forgiven as of the Termination Date; provided, however, that if Tenant does commit a material default during the Term, and if such material default continues after the expiration of any notice and cure periods, then, regardless of whether such material default is thereafter cured, (a) Tenant shall pay to Landlord upon demand the entire Rent Deferral Amount due for the months of the Term prior to the occurrence of such material default, and (b) Tenant shall not be entitled to any additional or future deferral of Fixed Monthly Rent. If Tenant does not commit any such material default during the first two (2) years of the initial Term, then Tenant shall thereafter be relieved of any obligation to repay any Rent Deferral Amount. Encino Terrace / Research SolutionsLandlord and Tenant shall, Inc. / MK / December 29in the Memorandum, 2016 ____ ____ ____ ____ Initial Initial Initial Initial
3. Since confirm the Commencement Date is other than actual dates upon which the first day of the month, the first billing will contain a pro rata adjustment. Each billing thereafter, with the exception of the final billing, shall be for the full amount of the changes in Fixed Monthly Rent as provided for in the Leasespecified above shall occur.
4. Tenant acknowledges and agrees that Landlord has completed the Improvements for which Landlord was obligated under the Lease to Tenant’s satisfaction, and, as of the Commencement Date, the Premises were in good order and repair.
5. Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in California and that Tenant has full right and authority to execute and deliver this Memorandum and that each person signing on behalf of Tenant is authorized to do so.
6. Failure by Tenant to execute and deliver this Memorandum to Landlord within five (5) business days after receipt hereof shall constitute an acknowledgement by Tenant that the statements included in this Memorandum are true and correct, without exception.
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