Common use of Minimum Rental Clause in Contracts

Minimum Rental. Notwithstanding anything to the contrary contained in the Lease as hereby amended, commencing as of April 1, 2010, and continuing throughout the Extended Term, Tenant shall pay to Landlord monthly installments of Minimum Rental for the Premises as follows: April 1, 2010 - June 30, 2010 (subject to 4.2, below) $ 0.00 $ 0.00 $ 0.00 July 1, 2010 - March 31, 2011 $ 534,060.00 $ 59,340.00 $ 2.40 5. BRITANNIA POINTE GRAND BUSINESS PARK [Portola Pharmaceuticals, Inc.] [First Amendment] June 30, 1011 $ 732,849.00 $ 61,070.75 $ 2.47 March 31, 2012* $ 1,530,639.20 $ 127,553.27 $ 2.47 April 1, 2012 - March 31, 2013 $ 1,580,214.60 $ 131,684.55 $ 2.55 April 1, 2013 - March 31, 2014 $ 1,623,593.00 $ 135,299.42 $ 2.62 April 1, 2014 - March 31, 2015 $ 1,673,168.40 $ 139,430.70 $ 2.70 * The minimum rental schedule for the period commencing on April 1, 2010 and ending June 30, 2011 is calculated based on the square footage of the Existing Premises only (i.e., 24,725 rentable square feet). The minimum rental schedule for the period commencing on July 1, 2011 and continuing throughout the remainder of the Extended Term, is based on the combined square footage of the Existing Premises and the Expansion Premises (i.e., 51,641 rentable square feet). In the event that the Millennium Lease is terminated prior to the Expansion Commencement Date, then the Expansion Premises shall be deemed to be part of the Premises pursuant to the terms of Section 2.3, above, and Tenant’s obligation to pay Minimum Rental and Tenant’s Operating Cost Share of the Operating Expenses shall be adjusted pursuant to the terms of Section 2.3, above. If Tenant has made any payments of Minimum Rental in excess of the amount required pursuant to this Section 4.1, such excess amount shall be credited toward the monthly installment(s) of Minimum Rental next coming due until such credit has been applied in full.