Common use of Increases in Base Rent Clause in Contracts

Increases in Base Rent. The following hereby supplements Paragraph 1.5 of the Lease: During the Original Term, Lessee shall pay Lessor Base Rent at the following rates: Month Monthly Base Rent ----- ----------------- 1-12 $ 17,352.72 13-24 $ 23,781.47 25-36 $ 24,732.73 37-48 $ 25,722.04 49-60 $ 26,750.92 As set forth above, the Base Rent shall increase by four percent (4%) annually during the Original Term of the Lease, commencing upon the date which is one (1) year following the Lease Commencement Date. Commencing on Month 13, Base Rent shall include the Additional Space, as defined below. If, for any reason, the Additional Space is not delivered by Lessor as and when specified below, the monthly Base Rent as reflected above shall be reduced accordingly such that the Base Rent is calculated only upon the square footage of the Premises originally delivered to Lessee pursuant to the Lease.

Appears in 1 contract

Sources: Lease Agreement (Photon Dynamics Inc)

Increases in Base Rent. The following hereby supplements Paragraph 1.5 of ---------------------- the Lease: During the Original Term, Lessee shall pay Lessor Base Rent at the following rates: Month Monthly Base Rent ----- ----------------- 1-12 $ $17,352.72 13-24 $ $23,781.47 25-36 $ $24,732.73 37-48 $ $25,722.04 49-60 $ $26,750.92 As set forth above, the Base Rent shall increase by four percent (4%) annually during the Original Term of the Lease, commencing upon the date which is one (1) year following the Lease Commencement Date. Commencing on Month 13, Base Rent shall include the Additional Space, as defined below. If, for any reason, the Additional Space is not delivered by Lessor as and when specified below, the monthly Base Rent as reflected above shall be reduced accordingly such that the Base Rent is calculated only upon the square footage of the Premises originally delivered to Lessee pursuant to the Lease.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Photon Dynamics Inc)