Common use of The Premises and Basic Rent Clause in Contracts

The Premises and Basic Rent. Although the Rentable Area of the Premises is 13,788 square feet, the premises will be subdivided into (3) areas called Area A, Area B, and Area C, and Tenant’s obligation to pay Basic Rent with respect to each of the Areas will begin when specified in this paragraph, notwithstanding any other provision of the Lease to the contrary. The Design Start Date with respect to Area A and Area B is the date specified in Section 1.01. Landlord will have no obligation to begin preparation of Area C for Tenant’s occupancy until Tenant gives Landlord a notice specifying the Design Start Date with respect to Area C. Subject to extension as a result of delays of the type described in Section 7.04, Landlord agrees that the Substantial Completion Date with respect to Area C will occur not more than one hundred fifty (150) days after the Design Start Date of Area C. Irrespective of when the obligation to pay Basic Rent begins, Tenant’s obligation to pay Operating Expenses and Taxes for the entire Premises will begin on the Term Commencement Date.