Common use of Suite 700 Clause in Contracts

Suite 700. Commencing on the Suite 700 Commencement Date and continuing thereafter throughout the Modified Term, Tenant shall pay to Landlord monthly installments of Base Rent for Suite 700 as follows: Period During Modified Term*** Annual Base Rent* Monthly Installment of Base Rent* Approximate Annual Rental Rate per Rentable Square Foot* Suite 700 Commencement Date – the last day of the full calendar month that is Lease Month 12 $ 2,719,015.00 $ 226,584.58 $ 65.00 The first (1st) day of the full calendar month that is Lease Month 13 – the last day of the full calendar month that is Lease Month 24 $ 2,800,585.45 $ 233,382.12 $ 66.95 ** The first (1st) day of the full calendar month that is Lease Month 25 – the last day of the full calendar month that is Lease Month 36 $ 2,884,603.01 $ 240,383.58 $ 68.96 ** The first (1st) day of the full calendar month that is Lease Month 37 – the last day of the full calendar month that is Lease Month 48 $ 2,971,141.10 $ 247,595.09 $ 71.03 ** The first (1st) day of the full calendar month that is Lease Month 49 – the last day of the full calendar month that is Lease Month 60 $ 3,060,275.33 $ 255,022.94 $ 73.16 ** The first (1st) day of the full calendar month that is Lease Month 61 – the last day of the full calendar month that is Lease Month 72 $ 3,152,083.59 $ 262,673.63 $ 75.35 ** The first (1st) day of the full calendar month that is Lease Month 73 – Extended Expiration Date $ 3,246,646.10 $ 270,553.84 $ 77.61 ** * The initial Annual Base Rent amount was calculated by multiplying the initial Annual Rental Rate per Rentable Square Foot amount by the number of rentable square feet of space in the Suite 700, and the initial Monthly Installment of Base Rent amount was calculated by dividing the initial Annual Base Rent amount by twelve (12). Both Tenant and Landlord acknowledge and agree that multiplying the Monthly Installment of Base Rent amount by twelve (12) does not always equal the Annual Base Rent amount. In all subsequent Base Rent payment periods during the Modified Term commencing on the first (1st) day of the full calendar month that is Lease Month 13, the calculation of each Annual Base Rent amount reflects an annual increase of three percent (3%) and each Monthly Installment of Base Rent amount was calculated by dividing the corresponding Annual Base Rent amount by twelve (12). ** The amounts identified in the column entitled “Approximate Annual Rental Rate per Rentable Square Foot” are rounded amounts and are provided for informational purposes only.