Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following: (1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and (2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and (3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and (4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and (5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 3 contracts
Sources: Lease Agreement (Dermira, Inc.), Lease Agreement (Dermira, Inc.), Lease Agreement (Dermira, Inc.)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 3 contracts
Sources: Lease Agreement (Cosine Communications Inc), Lease Agreement (Cosine Communications Inc), Lease Agreement (Cosine Communications Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be credited to Tenant's account within thirty (30) days after the audit is concluded.
Appears in 3 contracts
Sources: Lease Agreement (Latitude Communications Inc), Lease Agreement (Latitude Communications Inc), Lease Agreement (Latitude Communications Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.. See Paragraph 54
Appears in 3 contracts
Sources: Lease Agreement (Cosine Communications Inc), Lease Agreement (Cosine Communications Inc), Lease Agreement (Cosine Communications Inc)
Additional Rent. Beginning with the commencement date of the term of this LeaseCommencement Date, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share Proportionate Share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share Proportionate Share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share Proportionate Share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share Proportionate Share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ reasonable attorney’s fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate prorata share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Landlord shall provide the annual reconciliation by April 1 of the following year. Tenant shall have the right, during Landlord’s regular business hours and on reasonable prior notice, to inspect, at the location of Landlord’s accounting records, Landlord’s books and records regarding Additional Rent for the expense year to which the annual reconciliation relates. The inspection of Landlord’s books and records may be conducted by Tenant’s employee or a reputable certified public accountant (i.e., a member of a reputable, independent, nationally or regionally recognized certified public accounting firm, who has experience reviewing financial operating records of office building landlords; provided that such accountant is not retained by Tenant on a contingency fee basis). If such inspection reveals that the amount of Additional Rent billed to Tenant was incorrect, the appropriate party shall pay to the other party the deficiency or overpayment, as applicable, within thirty (30) days following delivery of the inspection, without interest. All costs and expenses of the inspection shall be paid by Tenant unless the final determination in the arbitration is that Landlord overstated Additional Rent by more than five percent (5%) for the applicable expense year, in which case Landlord shall pay all costs and expenses of the arbitration. Landlord shall maintain its accounting records of Additional Rent for at least three (3) years following the expiration or earlier termination of this Lease. Tenant’s payment for such estimated Additional Rent for as of the Early Access Period as well as in commencement of the first twelve (12) months Term of this Lease shall be Twenty Nine Thousand Nine Hundred Fifty Two and 36/100 ($22,600.00 29,952.36) Dollars per monthmonth ($1.14 x 26,274 s.f. Prior = $29,952.36). Any payments required to execution and delivery of this Lease be made by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. Basic Rent pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365. The following square footages are stated for reference: ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (Building I) 155,489 s.f. ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (Building II) 172,185 s.f. ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ (Building III) 66,426 s.f. Total square footage 394,100 s.f. Tenant’s percentage occupancy is therefore as follows: Percent of Building IIII 26,274 ÷ 66,426 = 39.5538% Percent of Complex 26,274 ÷ 394,100 = 6.6668% In no event shall any re-measurement of the Premises, Building and/or Complex increase Tenant’s pro-rata share of Additional Rent during the term.
Appears in 2 contracts
Sources: Lease Agreement (Coupa Software Inc), Lease Agreement (Coupa Software Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end within 120 days of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) Lease)in which case Landlord shall credit such amount towards cure of Tenant's default and, once default is cured, return any balance to Tenant any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 2 contracts
Sources: Lease Agreement (Pointcast Inc), Lease Agreement (Pointcast Inc)
Additional Rent. Beginning with the commencement date of Commencement Date (with regards to the term of this Lease1020 Space) and beginning with the 1060 Additional Rent Commencement Date (with regards to the 1060 Space), Tenant shall pay to Landlord the following, in addition to the Basic Rent and as Additional Rent, whether or not the same to be designated as such, and Additional Rent shall be included in the followingterm “rent” wherever used in this Lease; and, unless another time shall be expressly provided for the payment thereof, all rent and Additional Rent shall be due and payable together with the next succeeding installment of Basic Rent; and Landlord shall have the same remedies for failure to pay the same as for a nonpayment of Basic Rent:
(1a) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the building(s) (including common areas of the building(s)) in which the Premises are located and Common Areas of the Complex as set forth in Article 7, and
(b) Tenant’s proportionate share of all utilities relating to the Complex building(s) in which the Premises are located as set forth in Paragraph Article 11, and
(2c) Tenant’s proportionate share of all Real Property Taxes relating to the Complex as set forth in Paragraph Article 12, and
(3d) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph Article 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5e) All charges, costs and expenses, expenses which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses expenses, including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. If the 1060 Building does not have at least one hundred percent (100%) of the rentable area thereof occupied at all times during any calendar year period during the demised term, then the variable portion of all charges, costs and expenses which Tenant is required to pay herein (including expenses for the operation, management, maintenance and repair of the 1060 Building [including common areas of the 1060 Building] and Common Areas of the Complex, all utilities relating to the 1060 Building and the Complex, and all Real Property Taxes and insurance premiums relating to the Complex) (herein, the “Operating Expenses”) for such period shall be deemed to be equal to the total of the variable portion of such Operating Expenses which would have been incurred by Landlord if one hundred percent (100%) of the rentable area of the 1060 Building had been occupied for the entirety of such calendar year with all tenants paying full rent, as contrasted with free rent, half rent or the like. Tenant’s payment for such estimated Additional Rent for as of the Early Access Period as well as in commencement of the first twelve (12) months term of this Lease shall be Twenty Two Thousand Dollars ($22,600.00 22,000.00) per month. Prior month with respect to execution the 1020 Space and delivery of this Lease by both partiesEleven Thousand One Hundred Dollars ($11, Landlord shall provide 100.00) per month with respect to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs1060 Space. The respective obligations of Landlord and Tenant under this Paragraph 4 Article shall survive the expiration or other termination of the demised term of this Lease, and if the demised term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the demised term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365. Landlord shall endeavor to provide Landlord’s reconciliation statement for the final year of the demised term of this Lease to Tenant no later than one hundred eighty (180) days following the expiration of the last fiscal year of the demised term of this Lease.
Appears in 2 contracts
Sources: Sublease (Aravive, Inc.), Sublease (Versartis, Inc.)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 2 contracts
Sources: Lease Agreement (Saba Software Inc), Lease Agreement (Saba Software Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, 3.1 Tenant shall be responsible to pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of hereunder all utilities relating to the Complex as set forth in Paragraph 11taxes, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12costs, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs maintenance, and expenses, which Tenant is required to pay hereunder, operational expenses associated with the Demised Premises together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, penalties that may accrue thereto thereon in the event of the Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which the Landlord may incur by reason of any default of the Tenant or failure on the Tenant’s part to comply with the terms of this Lease, except those specifically allocated to Landlord under Article 5 of this Lease. In Therefore, and without limitation, commencing at the event Effective Date, Tenant shall continue to pay to Landlord One Hundred percent (100%) of nonpayment by Tenant the total costs of the following items, herein called “Additional Rent”:
A. All real estate taxes on the land, as more fully described on Schedule “B” attached hereto and made a part hereof (the “Land”), site improvements and the Building comprising the Demised Premises. Said real estate taxes shall include all real estate taxes and assessments that are levied upon and/or assessed against the Demised Premises, including any taxes which may be levied on rents, except that as to assessments, Landlord shall elect to pay same over the longest period permitted by law and only the current year’s installment, including interest, shall be added into Tenant’s calculation. In addition, Tenant shall reimburse Landlord for Landlord’s reasonable costs incurred in appealing taxes and/or assessments on Demised Premises, including reasonable legal fees, expert witness fees and other proper costs but Tenant will not be liable to pay a reimbursement in excess of any actual tax savings resulting from such an appeal. If any such appeal is successful, any recovery net of such expenses shall be credited (proportionately) to Tenant’s obligation hereunder. Except during the final three (3) years of the then Term, Tenant shall have the right to appeal tax assessments on the Demised Premises at Tenant’s sole cost and expense; and if any such tax appeal is unsuccessful or if it results in an increase in real estate taxes, Tenant shall bear all such costs, attorneys fees and tax increases during the rights Term. Notwithstanding the foregoing, the foregoing taxes shall specifically exclude income taxes assessed against the Landlord, franchise taxes, estate taxes, sales taxes, corporate income taxes, capital stock taxes, employment benefit taxes, social security taxes, worker’s compensation taxes, capital levy, succession, inheritance, or transfer taxes payable by the Landlord, corporate franchises, capital stock, loans and remedies bonus taxes imposed upon any owner of the Land, any late fees, penalties or interest with respect thereto to the payment of any such taxes, and any income, profits or revenue tax. Landlord hereby agrees to pay all such taxes so as to include and obtain any applicable discount for early payment.
B. All premiums and deductible costs paid by Landlord has for nonpayment the Demised Premises only associated with Insurance (as described in Articles 11.3 and 11.4 below).
C. All costs incurred by Landlord pursuant to this Lease to maintain, repair and replace exterior walls, structural steel, foundations, roof, landscaped areas, parking and loading areas including driveways, sidewalks and curbs (including snow and ice removal from parking and exterior loading areas and sidewalks) and site drainage facilities and other areas within the Land which are not the responsibility of rentTenant to maintain, repair and replace under this Lease. There shall also be included any parking charges, utilities surcharges, COAH development fees or any other costs levied, assessed or imposed by, or at the direction of, or resulting from statutes or regulations, or interpretations thereof, promulgated by any governmental authority in connection with the expansion, renovation, use or occupancy of the Demised Premises or the Parking Lot by or on behalf of Tenant (as defined in Article 43 below) from and after the Effective Date. Any and all such replacement costs shall be amortized over the useful economic life of such improvements.
D. On or about the Effective Date, Landlord shall submit to Tenant a statement of the anticipated monthly Additional Rent for the period between the Effective Date, and the following December 31, and Tenant shall pay this Additional Rent on a monthly basis concurrently with the payment of the Fixed Rent. Tenant shall pay continue to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated make said monthly payments until notified by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of a change thereof. By March 1 of each calendar year as compared (commencing in 2010), Landlord shall use its best efforts to Landlord’s actual expenditure for said Additional Rent items, with give Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in a statement showing the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated total Additional Rent for the Early Access Period as well as Demised Premises for the prior calendar year (an “Operating Expense Statement”). Landlord shall also submit to Tenant by separate invoice not less often than annually a statement documenting any charges relating to the Private Communications Ductbank (described in Section 32.2 below), and Tenant shall pay its proportionate share thereof within thirty (30) days after presentation thereof.
E. In the event the total of the monthly payments which Tenant has made for the prior calendar year be less than the Tenant’s actual share of such Additional Rent, then Tenant shall pay the difference in a lump sum within thirty (30) days after receipt of such statement from Landlord and shall concurrently pay the difference between the total previous monthly payments made in the first twelve (12) months then calendar year and the total of this Lease monthly payments calculated as Additional Rent based on the prior year’s experience. Any overpayment by Tenant shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth credited towards the Fixed Rent and/or Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursnext coming due. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar the prior year and shall be prorated in used for purposes of calculating the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.anticipated monthly
Appears in 2 contracts
Sources: Lease Agreement (Sungard Capital Corp Ii), Lease Agreement (SunGard VeriCenter, Inc.)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five (5) days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 2 contracts
Sources: Lease Agreement (PLX Technology Inc), Lease Agreement (PLX Technology Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, 3.1 Tenant shall be responsible to pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of hereunder all utilities relating to the Complex as set forth in Paragraph 11taxes, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12costs, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs maintenance, and expenses, which Tenant is required to pay hereunder, operational expenses associated with the Demised Premises together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, penalties that may accrue thereto thereon in the event of the Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which the Landlord may incur by reason of any default of the Tenant or failure on the Tenant’s part to comply with the terms of this Lease, except those specifically allocated to Landlord under Article 5 of this Lease. In Therefore, and without limitation, commencing at the event Effective Date, Tenant shall continue to pay to Landlord One Hundred percent (100%) of nonpayment by Tenant the total costs of the following items, herein called “Additional Rent”:
A. All real estate taxes on the land, as more fully described on Schedule “B” attached hereto and made a part hereof (the “Land”), site improvements and the Building comprising the Demised Premises. Said real estate taxes shall include all real estate taxes and assessments that are levied upon and/or assessed against the Demised Premises, including any taxes which may be levied on rents, except that as to assessments, Landlord shall elect to pay same over the longest period permitted by law and only the current year’s installment, including interest, shall be added into Tenant’s calculation. In addition, Tenant shall reimburse Landlord for Landlord’s reasonable costs incurred in appealing taxes and/or assessments on Demised Premises, including reasonable legal fees, expert witness fees and other proper costs but Tenant will not be liable to pay a reimbursement in excess of any actual tax savings resulting from such an appeal. If any such appeal is successful, any recovery net of such expenses shall be credited (proportionately) to Tenant’s obligation hereunder. Except during the final three (3) years of the then Term, Tenant shall have the right to appeal tax assessments on the Demised Premises at Tenant’s sole cost and expense; and if any such tax appeal is unsuccessful or if it results in an increase in real estate taxes, Tenant shall bear all such costs, attorneys fees and tax increases during the rights Term. Notwithstanding the foregoing, the foregoing taxes shall specifically exclude income taxes assessed against the Landlord, franchise taxes, estate taxes, sales taxes, corporate income taxes, capital stock taxes, employment benefit taxes, social security taxes, worker’s compensation taxes, capital levy, succession, inheritance, or transfer taxes payable by the Landlord, corporate franchises, capital stock, loans and remedies bonus taxes imposed upon any owner of the Land, any late fees, penalties or interest with respect thereto to the payment of any such taxes, and any income, profits or revenue tax. Landlord hereby agrees to pay all such taxes so as to include and obtain any applicable discount for early payment.
B. All premiums and deductible costs paid by Landlord has for nonpayment the Demised Premises only associated with Insurance (as described in Articles 11.3 and 11.4 below).
C. All costs incurred by Landlord pursuant to this Lease to maintain, repair and replace exterior walls, structural steel, foundations, roof, landscaped areas, parking and loading areas including driveways, sidewalks and curbs (including snow and ice removal from parking and exterior loading areas and sidewalks) and site drainage facilities and other areas within the Land which are not the responsibility of rentTenant to maintain, repair and replace under this Lease. There shall also be included any parking charges, utilities surcharges, COAH development fees or any other costs levied, assessed or imposed by, or at the direction of, or resulting from statutes or regulations, or interpretations thereof, promulgated by any governmental authority in connection with the expansion, renovation, use or occupancy of the Demised Premises or the Parking Lot by or on behalf of Tenant (as defined in Article 43 below) from and after the Effective Date. Any and all such replacement costs shall be amortized over the useful economic life of such improvements.
D. On or about the Effective Date, Landlord shall submit to Tenant a statement of the anticipated monthly Additional Rent for the period between the Effective Date, and the following December 31, and Tenant shall pay this Additional Rent on a monthly basis concurrently with the payment of the Fixed Rent. Tenant shall pay continue to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated make said monthly payments until notified by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of a change thereof. By March 1 of each calendar year as compared (commencing in 2010), Landlord shall use its best efforts to Landlord’s actual expenditure for said Additional Rent items, with give Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in a statement showing the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated total Additional Rent for the Early Access Period as well as Demised Premises for the prior calendar year (an “Operating Expense Statement”). Landlord shall also submit to Tenant by separate invoice not less often than annually a statement documenting any unanticipated charges relating to the repair of the common driveway area shared with ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, and the charges relating to the Private Communications Ductbank (described in Section 32.2 below), and Tenant shall pay its proportionate share thereof within thirty (30) days after presentation thereof.
E. In the event the total of the monthly payments which Tenant has made for the prior calendar year be less than the Tenant’s actual share of such Additional Rent, then Tenant shall pay the difference in a lump sum within thirty (30) days after receipt of such statement from Landlord and shall concurrently pay the difference between the total previous monthly payments made in the first twelve then calendar year and the total of monthly payments calculated as Additional Rent based on the prior year’s experience. Any overpayment by Tenant shall be credited towards the Fixed Rent and/or Additional Rent next coming due. The actual Additional Rent for the prior year shall be used for purposes of calculating the anticipated monthly Additional Rent for the then current year with actual determination of such Additional Rent after each calendar year as above provided. Even though the term has expired and Tenant has vacated the Demised Premises, when the final determination is made of Tenant’s share of said Additional Rent for the year in which this Lease terminates, Tenant shall pay any increase due over the estimated Additional Rent previously paid within thirty (1230) days after demand, and, conversely, any overpayment made shall be immediately rebated by Landlord to Tenant within thirty (30) days after such notice to Tenant, and this provision shall survive termination for said purpose. Failure of Landlord to submit Operating Expense Statements to Tenant as called for herein within six (6) months after the end of any applicable lease year or one (1) year from the expiration of the Initial Term, or any renewal term, as the case may be, shall be deemed to be a waiver of Tenant’s requirement to pay sums as herein provided. In addition, Tenant shall not be responsible or liable for the payment of any amount which should have been included in an Operating Expense Statement as Additional Rent for a particular calendar year that was not so included. The term “lease year” as used throughout this Lease shall be $22,600.00 per month. Prior mean: (a) as to execution and delivery of this Lease by both partiesthe period from January 1, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease2009 through September 30, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of 2015, a calendar year, i.e. January 1 to December 31 of each calendar year; and (b) as to the actual Additional Rent incurred for period from October 1, 2015 through the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis balance of the statement Initial Term and through each of actual Additional Rent for such the renewal option terms, if exercised, a period from October 1 to September 30 of the following calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365year.
Appears in 2 contracts
Sources: Lease Agreement (SunGard VeriCenter, Inc.), Lease Agreement (Sungard Capital Corp Ii)
Additional Rent. Beginning with the commencement date Except as stated above and commencing as of the term of this LeaseNovember 16, 2005, Tenant shall pay to Landlord or to Landlord’s designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex as Premises set forth in Paragraph 1110, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums and deductibles relating to the Complex as Premises set forth in Paragraph 1214, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest (third party interest) and penalties, costs and expenses including reasonable attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentBasic Rent, and
(d) All prorated costs and expenses related to the Ardenwood Technology Park Property Owners’ Association as set forth in Paragraph 43 (“Association Dues”). Notwithstanding anything to the contrary above, on the Commencement Date, Tenant shall also pay during the Basic Rent Abatement Period one hundred percent (100%) of all utilities, including electric and gas (PG&E), garbage and water charges (Alameda County Water District), and supplemental tax bills related to the installation of the Interior Improvements and the Other Tenant Improvements to be constructed by Tenant. The Additional Rent due hereunder shall be paid to Landlord or Landlord’s agent (i) within ten (10) days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice and appropriate supporting information from Landlord or Landlord’s agent for such Additional Rent and in no event earlier than thirty (30) days before the related payment is due to the respective agency and/or entity (notwithstanding anything to the contrary herein, Landlord shall not be required to submit ongoing monthly statements to Tenant reflecting amounts owed as Additional Rent) and/or (ii) at the option of Landlord, which option as related to taxes and insurance may only be elected if Tenant has been in default with respect to the terms of this Lease after the expiration of applicable cure periods within the immediately preceding twelve (12) calendar months, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate prorata share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at (i) within one hundred twenty (120) days of the end of each calendar year and (ii) within 120 days after the Termination Date (or as soon thereafter as reasonably possible if, for whatever reason, the Landlord cannot complete the reconciliation within said 120 day periods) or more frequently if Landlord elects to do so at Landlord’s sole and absolute discretion as compared to Landlord’s actual expenditure for said Additional Rent items. In the event of any underpayment by Tenant of Additional Rent items, with Tenant paying shall pay to Landlord, upon demandwithin thirty (30) days of Tenant’s receipt of an invoice from Landlord, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in . In the performance event of any of the termsoverpayment by Tenant, covenants and conditions of this Lease) Landlord shall credit any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. items to Tenant (provided Landlord may withhold any portion thereof and credit Tenant to cure Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as default in the first twelve (12) months performance of any of the terms, covenants and conditions of this Lease Lease. Within thirty (30) days after receipt of Landlord’s reconciliation, Tenant shall have the right, at Tenant’s sole expense, to audit, at a mutually convenient time at Landlord’s office, Landlord’s records specifically limited to the foregoing expenses. Such audit must be conducted by Tenant or Tenant’s agent, who shall be $22,600.00 per montha Certified Public Accountant, or an independent regional or nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Prior Tenant shall submit to execution Landlord a complete copy of said audit at no expense to Landlord and delivery a written notice stating the results of this Lease said audit, and if such notice by both partiesTenant and the respective audit reveals that Landlord has overcharged Tenant, Landlord and if the audit is not challenged by Landlord, the amount overcharged shall provide be credited to Tenant complete Tenant’s account within thirty (30) days after completion of Landlord’s review and accurate figures setting forth the Additional Rent for each approval of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurssaid audit. The respective obligations audit rights of Landlord and Tenant under this Paragraph 4 4.D are granted for Tenant’s personal benefit and may not be assigned or transferred by Tenant, either voluntarily or by operation of law, in any manner whatsoever except to a Permitted Transferee. Provided Tenant obtains Landlord’s written consent to (i) an assignment to a Permitted Transferee, as referenced in Paragraph 18.E (“Assignment and Subletting: Permitted Transfers”) and/or (ii) an other assignment, said audit rights may be assigned by Tenant; however, the audit rights shall survive only be applicable to the expiration period that commences after the date of assignment and/or merger to a Permitted Transferee and/or other Landlord approved assignment as the case may. Notwithstanding anything to the contrary herein, no subtenant shall have any right to conduct an audit of Landlord’s books and/or records. Landlord shall, upon request by Tenant, provide Tenant with copies of individual invoices related to the foregoing actual expenses, either by facsimile or by U.S. mail; however, in no event shall Landlord be obligated to provide duplicate copies of any invoice or other termination Lease documentation to Tenant and/or Tenant’s representative (if any) for an audit of the term Tenant’s records outside of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Landlord’s office.
Appears in 2 contracts
Sources: Lease Agreement (Genitope Corp), Lease Agreement (Genitope Corp)
Additional Rent. Beginning with 28.1 Tenant hereby covenants and agrees to pay as additional rent the commencement date amounts as set forth hereinbelow.
28.2 Tenant's Proportionate Share of the term total annual real estate taxes, assessments, (including special assessment), personal property tax, sewer rents, rates and charges (hereinafter referred to as the "Real Estate Taxes") which shall be levied, imposed or assessed upon the Real Property. Taxes are paid quarterly by the Landlord and appropriate billing will be submitted to the Tenant quarterly, setting forth the amount of the taxes paid or to be paid, at which time the Tenant will be required to pay said amount to the Landlord as additional rent hereunder.
28.3 During the Term of this Lease, Tenant shall pay to Landlord its Proportionate Share of the Landlord's Operating Expenses.
28.4 The "Landlord's Operating Costs" shall be the cost and expense of operating and maintaining the Building and the Real Property, including the Common Facilities, in addition a manner deemed by Landlord to be reasonable and appropriate and for the Basic Rent best interests of the Entire Premises, including, without limitation, all reasonable costs and reasonable expenses of operating, maintaining, managing, repairing, replacement, lighting, cleaning, painting, stripping, insuring, policing and securing (including the cost of uniforms, equipment and all employmant taxes), heating, ventilating and air-conditioning the Common Facilities or the Entire Premises as Additional Rent a whole; each and every expense incurred in connection with the following:
(1) Tenant’s proportionate share ownership, administration, management, operation and maintenance of all utilities the Entire Premises, including, but not limited to, wages, salaries and fees paid to persons either employed by Landlord or engaged as independent contractors in the operation of the Entire Premises and such other typical items of expense as indicated below; operating and maintaining any sprinkler system serving the Entire Premises, as a whole or the Common Facilities; any electrical, gas, water and sewer costs and charges relating to the Complex Common Facilities or the Entire Premises as set forth a whole (except to the extent separately charged to Tenants); taxes, insurance, including liability insurance for personal injury, death and property damage, flood insurance (if required by mortgagee), insurance against fire, extended coverage and such other casualty insurance as Landlord shall deem appropriate, rental insurance, boiler and machinery insurance, insurance against liability for defamation (except to the extent separately charged to Tenants); plate glass insurance for glass exclusively serving the area in Paragraph 11which the Common facilities are from time to time located or the Entire Premises as a whole: cleaning costs, and
(2) Tenant’s proportionate share including, but not limited to, window cleaning, general office cleaning, cleaning of all Taxes common areas; service contracts, including but not limited to; contracts for elevator service, HVAC service, rubbish removal, carting, janitorial and watchman services and snow removal; costs of landscaping; cost of insurances fees and/or salaries of superintendents, engineers, custodians; towel service for common lavatories; removal of snow, ice and debris; regulation of traffic; costs and expenses of inspection and personal property taxes and other charges incurred in connection with such equipment; costs and expenses of replacement of paving, curbs, walkways, landscaping, drainage, pipes, ducts, conduits, lighting facilities and similar items; costs and expenses of repairing and other structural repairs relating to the Complex as set forth in Paragraph 12Entire Premises; or if reimbursed to Landlord within the scope of fire or other casualty insurance coverage; costs and expense of planting, and
(3) Tenant’s proportionate share replanting and replacing flowers, shrubbery and planters; services, if any, furnished by Landlord for non-exclusive use of all insurance premiums relating Lessees on a non-profit basis, including parcel pick-up and delivery services and shuttle bus services. Provided, however, to the Complexextent that any common areas such as waiting or reception areas are limited to some but not all Tenants, as set forth then only those Tenants to whom the common facility is limited shall share pro rata in Paragraph 15accordance with the aforementioned formula. Landlord shall, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. in writing, designate those limited Common Facilities.
28.5 The amount of earthquake insurance deductibles actually paid charges required hereunder shall be amortized ( including interest at the rate paid by Tenant in monthly installments with monthly installments of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included Annual Basic Rent in such amounts as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunderestimated by Landlord, together with all interest such additional amounts and penaltiescredits invoiced by Landlord as and when Landlord's Operating Costs for any accounting year of Landlord have been determined, costs and expenses including attorneys’ fees and legal expenseswithin thirty (30) days of Landlord's statement therefor. Upon Tenant's reasonable notice, that may accrue thereto in Landlord shall make available for Tenant's inspection, during normal business hours, Landlord's records relating to Landlord's Operating Costs for the event period covered by any invoice. Failure of Tenant’s failure Landlord to pay such amountsprovide the statement called for hereunder, and all damageswithin the time prescribed, reasonable costs and expenses which Landlord may incur by reason of default of shall not discharge Tenant or failure on Tenant’s part to comply with the terms of this Leasefrom its obligation hereunder. In the event of nonpayment by Tenant of Additional Rentany overpayment, such overpayment shall be refunded to Tenant. In the event Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord or any mortgagee should require any particular Operating Cost to be Landlord’s approximate average monthly expenditure for escrowed, such Additional Rent items, which estimated amount escrow items shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended paid by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 2 contracts
Sources: Lease Agreement (Radvision LTD), Lease Agreement (Radvision LTD)
Additional Rent. Beginning with the commencement date of the term of this Lease, . Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas area of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five (5) days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such additional Rent and/or (ii) at the option of Landlord. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorate share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent itemsItems, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of for the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant and the audit is not challenged by Landlord, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Leaselease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding pricing such expiration or termination bears to 365.
Appears in 2 contracts
Sources: Lease Agreement (Ipass Inc), Lease Agreement (Ipass Inc)
Additional Rent. Beginning with Prior to the commencement date of each Lease Year --------------- (except the Base Services Year) during the term hereof, Landlord shall furnish Tenant a written statement of the Estimated Costs Allocable to the Premises for such Lease Year and a calculation of the portion of Estimated Costs Allocable to the Premises payable by Tenant as Additional Rent in accordance with this Section. In advance of or before the first day of each month during the term hereof commencing on the first day of this Leasethe first Lease Year following the Base Services Year, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent for each month during each such Lease Year: one-twelfth (1/12th) of the following:
(1) Tenant’s proportionate share of all utilities relating amount, if any, by which the Estimated Costs Allocable to the Complex as set forth in Paragraph 11Premises exceed the Base Amount. If at any time or times during any such Lease Year, and
(2) Tenant’s proportionate share of all Taxes relating it appears to Landlord that the Estimated Costs Allocable to the Complex as set forth in Paragraph 12Premises will vary from Landlord's estimate by more than five percent (5%) on an annualized basis, and
(3) Landlord may, by written notice to Tenant’s proportionate share , reasonably revise its estimate for such Lease Year and the portion of all insurance premiums relating the Estimated Costs Allocable to the ComplexPremises payable by Tenant as Additional Rent as provided herein for such Lease Year shall be accordingly adjusted based on such revised estimate. Notwithstanding the foregoing, as set forth in Paragraph 15, including reasonable deductibles Landlord hereby abates and forgives the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared pursuant to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in ARTICLE 9 during the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Term.
Appears in 2 contracts
Sources: Lease (Vialog Corp), Lease (Call Points Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (First Virtual Corp)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for items (however, if Tenant is in default of said Lease and the Early Access Period as well as in default can be cured by applying the first twelve credit or a portion thereof to cure the default, the remaining balance (12if any) months of this Lease said credit shall be $22,600.00 per monthapplied to Tenant's account). Prior Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant's sole expense, to execution and delivery of this Lease audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the foregoing expenses. Such audit must be conducted by both parties, Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall provide be provided a complete copy of said audit at no expense to Landlord. If such audit reveals that Landlord has overcharged Tenant complete and accurate figures setting forth the Additional Rent for each of audit is not challenged by Landlord, the two amount overcharged shall be credited to Tenant's account within thirty (230) full calendar years preceding days after the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with Commencing upon the commencement date of the term of this LeaseRent Commencement Date, Tenant shall pay to Landlord all charges and other amounts required to be paid by Tenant under this Lease as additional rent ("Additional Rent") including, without limitation, the amounts specified below. Landlord shall have the same remedies for a default in addition the payment of Additional Rent as for a default in the payment of Base Rent. Commencing upon the Commencement Date, Tenant shall pay to Landlord (or pay directly as specified in the Basic Rent and applicable Article of this Lease) as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share 's Proportionate Share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas Area of the Complex in which the Premises are located as set forth in Paragraph 7Article 10;
(2) Tenant's Proportionate Share of all utilities relating solely to the Common Area set forth in Article 13;
(3) Tenant's Tax Share of all Real Property Taxes relating to the Complex as set forth in Article 14 and accruing after June 30, and1996 and prior to the Termination Date;
(4) Tenant's Proportionate Share of all insurance premiums relating solely to the Common Area, as set forth in Article 19;
(5) A management fee equal to one percent (1%) of Base Rent.
(6) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including including, without limitation, attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, amounts and all damages, damages and reasonable costs and expenses which Landlord may incur by reason of default an Event of Tenant or failure on Default by Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have pay all the rights and remedies with respect thereto as Landlord has for nonpayment of rentReal Property Taxes accruing prior to July 1, 1996. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share all costs of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants insurance and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent utilities for the Early Access Period as well as in period prior to the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365accordance with Article 11.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities All taxes relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex Premises as set forth in Paragraph 12, and
(32) Tenant’s proportionate share of all All insurance premiums relating to the ComplexPremises, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(43) Tenant’s proportionate share of All expenses for the operation, management, maintenance and repair of the Building (including common areas of the Buildingbuilding) and Common Areas of the Complex in which Premises and all other areas of the Premises are located as set forth in Paragraph 7, and
(54) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an the amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not then in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning Assignor and Assignee each acknowledge and agree that Assignee shall, at its sole cost and expense, be responsible for verifying the Operating Expenses, electricity charges and Real Estate Taxes (collectively, such items are hereinafter referred to as the "Additional Rent") for the calendar years 2000, 2001 and 2002 pursuant to Sections 11 and 12 of the Lease, attributable to that portion of the Leased Premises delivered to Assignee during the calendar years 2001 and 2002, respectively. Notwithstanding the foregoing, Assignee agrees to (a) perform its review of such Additional Rent for such calendar years in good faith, (b) share with Assignor any information obtained by Assignee as a result of such review, (c) provide Assignor with copies of all documents and correspondence between Assignee and Landlord with respect to such Additional Rent, and (d) resolve and/or settle any dispute regarding such Additional Rent in a commercially reasonable manner consistent with the commencement resolution of any dispute concerning Additional Rent attributable to other space leased by Assignee in the Building, except for such differences arising from different rights and differing expenses and charges under the Lease and the lease for other space leased by Assignee in the Building respectively. Assignor shall cooperate with Assignee in connection with Assignee's review of Additional Rent statements, including, without limitation, providing Assignee with access to Assignor's books and records with respect to Additional Rent under the Lease. Assignee shall, within fifteen (15) business days after receipt of any refund from Landlord, return to Assignor the (i) the full amount of any refunds obtained from Landlord with respect to Additional Rent which are attributable to the Leased Premises for the calendar year 2000, and (ii) proportionate amount of any refunds obtained from Landlord with respect to Additional Rent which are attributable to that portion of the Leased Premises for the portion of calendar years 2001 and 2002 which occurs prior to the date of the term delivery to Assignee of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair possession of the Building (including common areas applicable portion of the Building) and Common Areas of the Complex Leased Premises in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply accordance with the terms of this LeaseAssignment (the "Delivery Date"). In Notwithstanding the event foregoing, Assignee shall be entitled to deduct from any refund received for such calendar years the actual reasonable costs incurred by Assignee in connection with the verification of nonpayment by Tenant of such Additional Rent. Upon Assignor's request, Landlord Assignee shall have provide Assignor with bills, receipts or other reasonable documentation evidencing such costs. Notwithstanding the foregoing, Assignee shall deliver to Assignor, promptly after receipt of the same from Landlord, copies of all the rights and remedies statements relating to Additional Rent (x) with respect thereto as Landlord has to any or all of the Leased Premises, for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the period through the end of each calendar year as compared 2001 and the tax year 2001, 2002, or (y) with respect to Landlord’s actual expenditure any portion of the Leased Premises for said which the Delivery Date occurs after December 31, 2001, for the period prior to such Delivery Date. If Assignor disputes any items on such statements relating to Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any respect of the termsperiods set forth in (x) and (y) above, covenants Assignee shall cooperate with Assignor and conditions of this Lease) any amount of estimated payments made by Tenant shall in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for good faith exercise such estimated Additional Rent for rights as it has to dispute such items in accordance with the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each provisions of the two Lease, at Assignor's sole cost and expense (2) full calendar years preceding the calendar year in provided, however, that if any such dispute relates to a period during which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive parties each occupied the expiration or other termination applicable portion of the term of this LeaseLeased Premises, then the parties shall share the costs and if expenses proportionately). Assignor shall have the term hereof shall expire or shall otherwise terminate on right to have a day other than representative present at all meetings and discussions with the last day of a calendar year, the actual Landlord which relate to any dispute regarding such Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Rent.
Appears in 1 contract
Sources: Assignment Agreement (Credit Suisse First Boston Usa Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, . Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
and (3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ reasonable attorneys fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar calender year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amountamount within thirty (30) days after delivery by Landlord to Tenant of a written reconciliation identifying the amount to be paid, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. If a net refund is due Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each credit Tenant's account accordingly within thirty (30) days of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurssaid reconciliation. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar calender year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar calender year and shall be prorated in the proportion which the number of days in such calendar calender year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date second (2nd) month of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share 's Proportionate Share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share 's Proportionate Share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share 's Proportionate Share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share 's Proportionate Share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, which expenses shall be consistent with expenses of similar first (1st) class buildings in the San Mateo/▇▇▇▇▇▇ City/Redwood Shores market area, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items. Such reconciliation shall be provided to Tenant in writing ("Landlord's Statement") no later than Ninety (90) days following the end of each such calendar year. Subject to Tenant's audit rights described below, with Tenant paying shall pay to Landlord, upon demandwithin thirty (30) days of receipt of Landlord's Statement, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding shall refund to Tenant within 30 days (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s 's payment for such estimated Additional Rent for as of the Early Access Period as well as in second (2nd) month of the first twelve (12) months of this Lease Term shall be [$22,600.00 .93 per rentable square foot] per month, which amounts to Twenty Seven Thousand Seven Hundred Forty Four and 69/100 Dollars ($27,744.69) per month. Prior to execution Landlord and delivery of this Lease by both parties, Landlord shall provide to Tenant complete acknowledge and accurate figures setting forth agree that such amount includes all the expenses for Additional Rent for each items identified in paragraph 4(D) (1) through (5) above, as of the two (2) full calendar years preceding the calendar year in which commencement date of the Lease Commencement Date occursterm. Any payments required to be made by Tenant for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for Basic Rent pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease (Siebel Systems Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, . Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. If such estimated Additional Rent for audit reveals that Landlord has overcharged Tenant, the Early Access Period as well as in the first twelve (12) months of this Lease amount overcharged shall be $22,600.00 per month. Prior credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365. Tenant shall not pay any portion of Common Area expenses attributable to ground lease payments or mortgage payments or third party tenants.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting the forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent itemsItems, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Transmeta Corp)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within ten days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s items which payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease by Tenant shall be $22,600.00 per monthmade within thirty (30) days after delivery by Landlord to Tenant of a written reconciliation identifying the amount to be paid. Prior to execution and delivery of this Lease by both partiesIf a refund is due Tenant, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each credit Tenant's account accordingly within thirty (30) days of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurssaid reconciliation. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (New Focus Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
: (1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
and (3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
and (5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment non- payment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of Commencement Date (with regards to the term of this Lease1020 Space) and beginning with the 1060 Additional Rent Commencement Date (with regards to the 1060 Space), Tenant shall pay to Landlord the following, in addition to the Basic Rent and as Additional Rent, whether or not the same to be designated as such, and Additional Rent shall be included in the followingterm "rent" wherever used in this Lease; and, unless another time shall be expressly provided for the payment thereof, all rent and Additional Rent shall be due and payable together with the next succeeding installment of Basic Rent; and Landlord shall have the same remedies for failure to pay the same as for a nonpayment of Basic Rent:
(1a) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the building(s) (including common areas of the building(s)) in which the Premises are located and Common Areas of the Complex as set forth in Article 7, and
(b) Tenant's proportionate share of all utilities relating to the Complex building(s) in which the Premises are located as set forth in Paragraph Article 11, and
(2c) Tenant’s 's proportionate share of all Real Property Taxes relating to the Complex as set forth in Paragraph Article 12, and
(3d) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph Article 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5e) All charges, costs and expenses, expenses which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses expenses, including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s 's proportionate share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. If the 1060 Building does not have at least one hundred percent (100%) of the rentable area thereof occupied at all times during any calendar year period during the demised term, then the variable portion of all charges, costs and expenses which Tenant is required to pay herein (including expenses for the operation, management, maintenance and repair of the 1060 Building [including common areas of the 1060 Building] and Common Areas of the Complex, all utilities relating to the 1060 Building and the Complex, and all Real Property Taxes and insurance premiums relating to the Complex) (herein, the “Operating Expenses”) for such period shall be deemed to be equal to the total of the variable portion of such Operating Expenses which would have been incurred by Landlord if one hundred percent (100%) of the rentable area of the 1060 Building had been occupied for the entirety of such calendar year with all tenants paying full rent, as contrasted with free rent, half rent or the like. Tenant’s 's payment for such estimated Additional Rent for as of the Early Access Period as well as in commencement of the first twelve (12) months term of this Lease shall be Twenty Two Thousand Dollars ($22,600.00 22,000.00) per month. Prior month with respect to execution the 1020 Space and delivery of this Lease by both parties, Landlord shall provide Eleven Thousand One Hundred Dollars ($11,100.00) per month with respect to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs1060 Space. The respective obligations of Landlord and Tenant under this Paragraph 4 Article shall survive the expiration or other termination of the demised term of this Lease, and if the demised term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the demised term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365. Landlord shall endeavor to provide Landlord’s reconciliation statement for the final year of the demised term of this Lease to Tenant no later than one hundred eighty (180) days following the expiration of the last fiscal year of the demised term of this Lease.
Appears in 1 contract
Sources: Lease Agreement (Versartis, Inc.)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses expenses, including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five (5) days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within one hundred twenty (120) days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Sublease (Power Integrations Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses expenses, which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of for rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants convenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. If such estimated Additional Rent for audit reveals that Landlord has overcharged Tenant, the Early Access Period as well as in the first twelve (12) months of this Lease amount overcharged shall be $22,600.00 per month. Prior credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s Tenants proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are as located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant and the audit is not challenged by Landlord, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Neoforma Com Inc)
Additional Rent. Beginning with Commencing upon the commencement date of the term of this LeaseRent Commencement Date, Tenant shall pay to Landlord all charges and other amounts required to be paid by Tenant under this Lease as additional rent ("ADDITIONAL RENT") including, without limitation, the amounts specified below. Landlord shall have the same remedies for a default in addition the payment of Additional Rent as for a default in the payment of Base Rent. Commencing upon the Rent Commencement Date, Tenant shall pay to Landlord (or pay directly as specified in the Basic Rent and applicable Article of this Lease) as Additional Rent the following:
(1a) Tenant’s proportionate share 's Building Proportionate Share of all utilities relating to the Complex Building Operating Expenses, as set forth in Paragraph 11, andSection 10.1;
(2b) Tenant’s 's Complex Proportionate Share of Complex Operating Expenses, as set forth in Section 10.2;
(c) Tenant's Building Proportionate Share of all utilities provided by Landlord to the Building and Tenant's Complex Proportionate Share of all utilities provided by Landlord to the Complex Common Areas, as set forth in Article 13;
(d) Tenant's Building Proportionate Share of all Real Property Taxes relating to the Building (which include the Building's proportionate share of all the Real Property Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the ComplexCommon Areas), as set forth in Paragraph 15Article 14;
(e) Tenant's Building Proportionate Share of all insurance premiums paid by Landlord and covering the Building, including reasonable deductibles and Tenant's Complex Proportionate Share of all insurance premiums paid by Landlord and covering the preComplex Common Areas, as set forth in Article 19;
(f) A management fee equal to either two percent (2%) of the Base Rent or, if the Building is managed by a third-payment party management company, Tenant's Building Proportionate Share of premiums for coverage the actual cost incurred by Landlord, not to exceed two percent (2%) of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Base Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5g) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including including, without limitation, attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, amounts and all damages, damages and reasonable costs and expenses which Landlord may incur by reason of default an Event of Tenant or failure on Default by Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease (Genencor International Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas area of the Buildingbuilding) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs cots and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this the Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice form Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled within 120 days of at the end of each calendar year years or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding landlord crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant Tenants in excess of Landlord’s 's actual expenditures for said Additional Rent itemsItems. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expense. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expenses to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant and the audit is not challenged by Landlord, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account with in thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise other wise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Ipass Inc)
Additional Rent. Beginning with All rent not defined. as base rent shall he considered "Additional Rent". In addition to the commencement date of the term of this LeaseBase Rent specified above, Tenant shall pay to the Landlord an amount which Landlord shall Estimate for the cost of all personal property and real property (real estate) taxes and assessments attributable to the building and the operation thereof, all insurance as specified in this Lease and all maintenance of the building in order to keep it in good operational condition, this rent is also called NNN. The sum of the expenses shall be estimated by Landlord each year and divided by 12 then divided by three (3 units) and Tenant shall pay such rent along with his base rent. Landlord shall also be entitled to such other sums due in excess of the base rent which shall also be titled Additional Rent as specified in the Lease. As of the signing of this lease annual real estate taxes are to be determined at the beginning of each calendar year. NNN Items. Included in the NNN items are all expenses related to the operation of the building, including ail taxes levied against the building, insurance and maintenance, legal and professional fees, charges by any city authority, sidewalk improvements, and any other expense not considered a capital expense incurred by Landlord in addition to operating the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11property. In addition, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event the actual NNN Expenses exceed the budgeted NNN Expense payments, Tenant shall pay the difference within thirty (30) days of Tenant’s failure written notice by Landlord. Landlord will give the appropriate credit if the budgeted NNN Expense exceeds the actual. In addition, Tenant shall be responsible for obtaining and maintaining insurance sufficient to protect Landlord as outlined below. In the event the NNN charges have been underestimated by Landlord, he may present a ▇▇▇▇ to Tenant and Tenant shall pay such amounts▇▇▇▇ within 10 days. Exclusions from NNN items. None Maintenance Portion of NNN Items included. Tenant, shall perform maintenance on the building and therefore avoid payment of the maintenance portion of the NNN directly to Landlord. To the extent Tenant fails to perform the maintenance of the property Landlord may perform such maintenance and ▇▇▇▇ Tenant for the cost of same. Tenant shall keep in good order, condition and repair the Premises and every part thereof, (regardless of whether the damaged portion of the Premises or the means of repairing the same are accessible to Lessee) including, without limiting the generality of the foregoing, all plumbing, heating, air conditioning, ventilating, electrical and lighting facilities and equipment within or about the Premises, fixtures, interior walls and interior surfaces of exterior walls. ceilings, windows, doors, plate glass, showcases, skylights, entrances and vestibules located within or about the Premises and all sidewalks, including prompt snow removal as required by the City and County of Denver, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure signs located on Tenant’s part to comply with the terms of this Leasebuilding. In the event of nonpayment 00 any fine or charge assessed by the City and County of Deliver or it's subdivisions for failure to maintain the building or sidewalks, Tenant shall promptly pay the same. If Lessee fails to perform Lessee's obligations under this section Lessor or his agents or contractors may at Lessor's option enter upon the Premises, after ten (10) days' prior written notice to Lessee. and put the same in good order, condition and repair. and the cost thereof together with interest thereon at the rate of Additional Rent, 18% per annum shall be due and payable as additional rent to Lessor together with Lessee's next rental installment. Landlord shall have all be entitled to a fee of 20% of the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance cost of any repairs or maintenance performed by Landlord. Insurance Portion of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365NNN Items.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount reasonably estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar calender year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant and the audit is not challenged by Landlord, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Neoforma Com Inc)
Additional Rent. Beginning This Lease is intended by the parties hereto to be a so-called "net" lease, subject to and in accordance with the commencement date provisions set forth herein. To the end that the Basic Rent shall be received by the Landlord net of costs and expenses related to operation and maintenance of the term Property as specified herein for that portion of this Leasethe Building that contains the Premises (the "ATX Building") and the Premises except as expressly set forth herein. Accordingly the Tenant agrees to pay, Tenant shall pay to Landlord in addition to the Tenant's obligations with respect to rea1 estate taxes (as provided in Section 7 hereof), Common Expenses as provided below and other costs which are specifically set forth herein, to the Landlord upon demand as Additional Rent, in the same manner as Basic Rent Rent, except as otherwise expressly agreed in this Lease, including, without limiting the generality of the foregoing, reasonable attorneys' fees incurred by the Landlord in connection with any consents under any subleases and assignments of this Lease requested by the Tenant and a property management fee not to exceed three and 1/4 percent (3.25%) of gross rent paid by Tenant. During the Transitional Term, Tenant shall also pay as Additional Rent all of the following:
(1) Tenant’s proportionate share Common Expenses defined below. During the Principal Term and the Extended Term Tenant shall pay all of all utilities relating the Common Expenses related to the Complex ATX Building and fifty-four and 3/10 percent (54.3%) or such other percentage as set forth in Paragraph 11, and
(2) Tenant’s proportionate share the rentable square footage of all Taxes relating the Premises bears to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair rentable square footage of the Building from time to time (including common areas "Tenant's Percentage") of the Building) and other Common Areas of the Complex in which the Premises are located Expenses, as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure hereinafter defined. The foregoing obligation to pay such amountsCommon Expenses is hereinafter called "Tenant's Common Expense Obligation". The Landlord and the Tenant agree that if the rentable area of the Building and the rentable area of the Premises change as a result of improvements or alterations to the Building constructed by Landlord, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthlywhich, in advancethe aggregate, would result in a change of 5% or more to Tenant’s proportionate share of an amount estimated by Landlord 's Percentage, then Tenant's Percentage will be adjusted to be Landlord’s approximate average monthly expenditure for reflect such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365changes.
Appears in 1 contract
Sources: Lease Agreement (Cross a T Co)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest Interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorate share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s landlord's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or of termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Selectica Inc)
Additional Rent. Beginning with the commencement date of the term of this Leasethisease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 180 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant Tenant's account (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease, in which case such amount shall be held by Landlord as a credit for Tenant's account until such default has been cured) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Quantum Corp /De/)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating All Taxes related to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Unless otherwise provided in this Lease, the Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses expenses; including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated pro rated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, . Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex Complete as set forth in Paragraph 12, and
and (3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
and (5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent Items after presentation of invoice from Landlord or Landlord's agent selling forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment Tenant shall have the right to review Landlord's record's at a time convenient for such estimated Landlord at Landlord's office, that are related to Additional Rent charges within 30 days of Tenant's receipt of notice for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursadditional amounts owed. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Neomagic Corp)
Additional Rent. Beginning with Tenant assumes and agrees to pay and discharge, in addition to Minimum Rent, all costs, expenses and other amounts, liabilities and obligations relating to the commencement date of the term Premises, including, without limitation, each and all thereof which Tenant expressly assumes or agrees to pay or discharge pursuant to Section 10 and all other provisions of this Lease, together with every fine, penalty, interest and cost which may be added for nonpayment or late payment thereof, all of which shall constitute additional rent hereunder (herein called "Additional Rent"). Anything in the preceding sentence to the contrary notwithstanding, Tenant shall pay not be obligated to pay, and Additional Rent shall not include, (i) any principal, interest or other amount payable by Landlord to any Mortgagee, as such, (ii) any fine, penalty, interest or cost referred to in addition the preceding sentence to the Basic Rent extent arising out of Landlord's failure to apply to payment of Taxes and as Additional Rent insurance premiums amounts received by Landlord from Tenant for such purposes pursuant to Section 11, (iii) any costs or expenses payable for services provided to or for the following:
(1) Tenant’s proportionate share of all utilities relating Premises attributable to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share periods of all Taxes relating time prior to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to Commencement Date and after the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair expiration or termination of the Building Term, or (including common areas iv) any amounts owing in respect of the Building) and Common Areas any Retained Obligation or in respect of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event breach by Landlord of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Leaseany Retained Obligations. In the event of nonpayment any failure by Tenant of to pay or discharge any Additional RentRent owing to Landlord, Landlord shall have all the rights rights, powers and remedies with respect thereto as Landlord has for provided herein or by law in the case of nonpayment of rentMinimum Rent. Tenant shall also covenants to pay to Landlord monthlyon demand, as Additional Rent, a late charge in advance, Tenant’s proportionate share of an amount estimated equal to five percent (5%) of the amount then due on all installments of Minimum Rent not paid within five (5) Business Days after the date when due. The actual amount of Landlord's administrative expenses arising by reason of a late payment will be difficult to ascertain and the parties agree that the late charge as calculated above is a reasonable estimate thereof and is not a penalty. Tenant further covenants to pay to Landlord on demand, as Additional Rent, interest at the per annum rate of interest equal to one percent (1%) plus the "prime rate" as reported by the Wall Street Journal, or at the maximum rate permitted by applicable law, whichever is less, on all Minimum Rent and Additional Rent due to Landlord from the date due until such amount is paid in full and received in good funds by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at or its designee. If the end Wall Street Journal discontinues publication or publication of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, "prime rate," then Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year substitute a comparable prime rate published in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365comparable publication.
Appears in 1 contract
Additional Rent. Beginning with The Tenant will also pay, without notice, and without abatement, deduction, or setoff, except as otherwise specifically allowed herein, as additional rent, all sums, taxes, assessments, costs, expenses, and other payments which the commencement date Tenant in any of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term provisions of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7assumes or agrees to pay, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amountsany nonpayment thereof, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have (in addition to all other rights and remedies) all the rights and remedies with respect thereto as Landlord has for provided herein or by law in the case of nonpayment of rent. As Additional Annual Rent Tenant shall pay a sum equal to Landlord monthly, in advance, Tenant’s proportionate share twenty-five percent (25%) of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure the Adjusted Net Cash Flow commencing with the first day the Tenant Improvements open for such Additional Rent items, which estimated amount business. The Tenant shall be reconciled at calculate Adjusted Net Cash Flow for each Current Year within forty-five (45) days after the end of each calendar year as compared the Current Year (or portion thereof) and provide that calculation, and pay to Landlord’s actual expenditure for said the Landlord the Additional Annual Rent, within sixty (60) days after the end of the Current Year. Additional Annual Rent itemsshall continue until this Lease expires. Adjusted Net Cash Flow is Gross Revenues less Total Expenses, with Tenant paying to Landlord, upon demand, any less the total amount of actual capital expenses expended by Landlord for furniture, fixtures, and equipment for the Tenant Improvements in excess of said estimated amountthe aggregate amount expended from any reserve during such year. Tenant agrees to allow City Representative, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any after submission of the terms, covenants and conditions calculations of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Annual Rent for such calendar year year, to review and audit Tenant’s books and records for compliance with Tenant’s obligations hereunder. If an audit by the City reveals a material understatement of the amount due the City, then Tenant shall be prorated in pay all reasonable costs of such audit by an independent certified public accountant of reputable standing. In making the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365calculations required hereunder, Tenant and City shall apply generally accepted accounting principles, consistently applied.
Appears in 1 contract
Sources: Ground Lease
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
and (2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
and (3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount reasonably estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Sublease Agreement (Integrated Telecom Express Inc/ Ca)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All Insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ 's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. and (d) all prorated costs and expenses related to the Ardenwood Property Owners' Association as set forth in Paragraph 52. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent(i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate Tenants prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent itemsItems, which estimated amount shall be reconciled within 120 days of at the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is as not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in year. In which the term hereof expires expire or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2a) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur increase by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord’s agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord’s agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate prorata share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord’s sole and absolute discretion as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days says in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (PortalPlayer, Inc.)
Additional Rent. Beginning with 10.1 ▇▇▇▇▇▇ hereby agrees to bear all costs and expenses relating directly and solely to the commencement date of the term Demised Premises as Additional Rent. For purposes of this Lease, Tenant the term "Additional Rent" is hereby defined as all costs and expenses associated with the ownership, occupancy, operation and maintenance of the Demised Premises. Without limitation on the generality of the foregoing, Additional Rent shall pay be deemed to Landlord be all utilities charges (including gas, electric, telephone, water, and sewage) incurred in addition connection with the Demised Premises; the installation, purchase, and maintenance of identity signs for the Demised Premises; sanitary control; sewer cleaning; trash removal and snow removal; painting; insurance premiums (including those for casualty protection, rental interruption, public liability, and property damage insurance); maintenance, repair, resurfacing and restriping of parking areas; repairs, policing, general maintenance of and replacements for improvements of the Demised Premises; the cost of security personnel and equipment; real property taxes and assessments (special or general), personal property taxes, rent taxes, gross receipt taxes, or any charges imposed in lieu of the foregoing taxes; labor, wages, and other payments on behalf of employees, contractors, and subcontractors; charges of independent contractors; supplies, materials, equipment, and tools; and overhead expenses incurred by Lessor for the administration of the Demised Premises. Additional Rent shall not include capital expenditures by Lessor for improvements to or the renovation of the Demised Premises; however, the Lessee shall be responsible for the full maintenance of any parking lot surfaces including any access ways. The Lessee shall not be responsible for depreciation or amortization of the Demised Premises or assets related thereto. For purposes of this paragraph, the term "capital expenditures" shall mean those improvements which add value to the Basic Rent Property and as Additional Rent the following:
(1) Tenant’s proportionate share which have a useful life of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
five (5) All charges, costs years or more.
10.2 Base Rent and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year are sometimes herein referred to collectively as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, "rent," "rents" or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365"rentals").
Appears in 1 contract
Sources: Lease Agreement
Additional Rent. Beginning with the commencement date of the term of this LeaseCommencement Date, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s 's proportionate share ("Tenant's Share") as specified in Paragraph 1.F, of all utilities Real Property Taxes relating to the Complex Complex, as set forth in Paragraph 1114, and
(2) Tenant’s proportionate share 's Share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all property insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(43) Tenant’s proportionate share 's Share of expenses for the operation, management, maintenance and repair of the Building (including common areas Common Areas of the Building) and Common Areas of the Complex in which the Premises are located located, as set forth in Paragraph 79, and
(4) The sums required to reimburse Landlord for the cost of repairs and maintenance to the Premises, as set forth in Paragraph 12; and 5
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including without limitation attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for to nonpayment of rentBasic Rent. Tenant The Additional Rent due hereunder shall pay be paid to Landlord or Landlord's agent (i) within thirty (30) days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of an invoice from Landlord or Landlord's agent setting forth such Additional Rent, and/or (ii) at the option of Landlord, directly to the designated recipient thereof, as and when such amounts are due, in accordance with statements or invoices presented to Tenant; and/or (iii) at the option of Landlord, to Landlord monthly, in advance, Tenant’s proportionate share of in an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) applying any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated items to Basic Rent and/or Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursnext becoming due. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof Lease Term shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof Lease Term expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in (a) In addition to the Basic Rent monthly base rent, commencing on the commencement date, Lessee agrees to monthly pay, as additional rent, a forty-four and as Additional Rent the following:
07/100 percent (144.7%) Tenant’s proportionate share of all utilities relating Property maintenance and operating expenses as hereinafter defined. Lessee shall have no right to withhold, deduct or offset any amount from the Complex as additional rent even if the actual square footage of the premises is less than the approximate square footage of the premises set forth in Paragraph 11, andExhibit B attached hereto.
(2b) Tenant’s proportionate Lessee's percentage share of all Taxes relating to the Complex as Property maintenance and operating expenses set forth in Paragraph 12, and
(3) Tenant’s proportionate share above is based upon the Lessee's percentage of all insurance premiums relating to the Complex, Property's maintenance and operating expenses as set forth in Paragraph 15, including reasonable deductibles and of the pre-payment of premiums for coverage of up to one yearcommencement date. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years maintenance and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of operating expenses for the operationProperty shall be computed on an annual basis, managementat the beginning of each calendar year, maintenance and, to the extent such expenses are not fixed or known in advance, shall be estimated by the Lessor for the ensuing year. Lessee shall pay such expenses, as additional rent, throughout the calendar year, in advance, with the monthly base rent, subject to reconciliation and repair adjustment as provided below. Lessor shall notify Lessee of Lessee's share of the Building (including common areas expenses for the coming calendar year as soon as reasonably possible after the beginning of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Leaseeach year. In the event of nonpayment by Tenant of Additional Rent, Landlord Lessee's lease term shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled commence or end at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other time than the last day beginning or end of a calendar year, the actual Additional Rent incurred Lessee's additional rent shall be adjusted prorata for such shortened period. Lessor shall have the right, in the event of unusual or extraordinary maintenance and operating expenses, to assess and collect, as additional rent, either as a one time or continuing charge, additional sums under this Section 3.2 to pay such expenses without affecting the Lessee's liability for the monthly sums hereinabove described.
(c) Property maintenance and operating expenses" shall include, without limitation, shall include, without limitation: (i) Lessor's overhead expenses pertaining to the Property and the common areas; (ii) costs of non-structural repairs, line painting, landscaping and irrigation, electricity, maintenance of parking areas, bulb replacement, cleaning up, sweeping and janitorial service; and cost of garbage and refuse removal, and any repairs, improvements or replacements required by law; (iii) costs of any repairs, alterations, modifications, amendments, additions and/or improvements to the Property and/or the premises, not otherwise paid for by any tenant of the Property, necessary, required or appropriate in order to bring the Property and/or the premises into compliance with the requirements, policies and/or procedures of "The Americans with Disabilities Act of 1990," 42 U.S.C. Section 12101 et. seq., and/or any rules and/or regulations promulgated with respect thereto; (iv) all billing, security, management and legal expenses incurred or paid by Lessor relating to the protection, maintenance and operation of the Property, the common areas and/or the premises not separately payable by any other tenant of the Property; (v) any utility charges for the Property, the common areas and/or the premises not separately metered to or paid for by any tenant of the Property; (vi) costs of liability, fire, other property damage, flood, loss of rent, business interruption and other insurance, including any deductibles payable by the Lessor thereunder, which Lessor shall, in its sole discretion, deem necessary and/or appropriate with respect to the premises, the Property, the common areas and/or Lessee and/or Lessee's business, fixtures, equipment, installations and/or operations in the premises, common areas and/or Property; (vii) Lessee's share of the Property's real and personal property taxes and assessments as provided in Section 4.1; (viii) Lessee's share of the Master Lease rent and any other charges or assessments charged to or payable by Lessor under the Master Lease described in Section 17.1 below; and (ix) any other costs which the Lessor shall conclude, in its sole discretion, are reasonable and necessary for maintaining and operating the common areas and/or the Property.
(d) A statement of Property maintenance and operating expenses shall be provided annually to Lessee within one hundred twenty (120) days of each calendar year in which end. If the term hereof expires or otherwise terminates maintenance and operating expenses according to such statement shall differ from the expenses estimated by Lessor as provided above, the expenses according to such statement shall be determined deemed correct and settled on an appropriate adjustment shall be made in the basis additional rent by prompt payment by Lessee of any deficiency or, in the event of an excess, an adjustment of additional rent thereafter due to Lessor to provide Lessee with reimbursement over a period of time not to exceed twelve (12) months. Notwithstanding the preceding, however, Lessor's failure to provide Lessee with a statement of the statement Property maintenance and operating expenses by the date provided above shall in no way excuse Lessee from its obligation to pay its pro rata share of actual Additional Rent for the Property maintenance and operating expenses or constitute a waiver of Lessor's right to ▇▇▇▇ and collect such calendar year pro rata share of the Property maintenance and shall be prorated operating expenses from Lessee as provided in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365this Section 3.2.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this --------------- Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s Tenants failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part 's failure to comply with the terms of this Lease. In in the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. rent The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's, prorate share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated estimate amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Curon Medical Inc)
Additional Rent. Beginning with the commencement date In addition to Percentage Rent and all other rent charges reserved hereunder and as part of the term total rent to be paid, Tenant agrees to pay Landlord, commencing on and after the Rent Commencement Date and continuing thereafter throughout the entire Term of the Lease, on a monthly basis in advance, due and payable on the first day of each calendar month without deduction or offset for any reason whatsoever, the amount due as Additional Rent. Without limiting any other provision of this Lease, Tenant shall pay to Landlord it is expressly understood and agreed that the Tenant's participation in addition to real estate taxes over the Basic Rent Tax Base Year, and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in other charges which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunderhereunder (excluding only Percentage Rent), together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, penalties that may accrue thereto thereon, shall be deemed to be Additional Rent, and in the event of nonpayment thereof by the Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all of the rights and remedies with respect thereto as would accrue to the Landlord has for nonpayment of rent. Rent.
(a) Landlord shall have the right, but shall not be required to do so, to pay such sums or do any act which requires the expenditure of monies which may be necessary or appropriate by reason of the failure or neglect of Tenant shall to perform any of the provisions of this Lease, and, in the event of the exercise of such right by Landlord, Tenant agrees to pay to Landlord monthlywithin fifteen (15) days after notice thereof, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for all such sums as Additional Rent items, which estimated amount Rent; and if Tenant shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both partiespayment, Landlord shall provide have the same rights and remedies as Landlord has hereunder for the failure of Tenant to Tenant complete and accurate figures setting pay rent. Except as forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective herein, any obligations of Landlord Tenant, as set forth herein (including, without limitation, rental and Tenant under this Paragraph 4 other monetary obligations, repair obligations, and obligations to indemnify Landlord), shall survive the expiration or other earlier termination of the term of this Lease, and if Tenant shall immediately reimburse Landlord for any expense incurred by Landlord, including Tenant's failure to satisfy any such obligation (notwithstanding the term hereof shall expire or shall otherwise terminate on a day other than fact that such cure might be effected by Landlord following the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or earlier termination bears to 365of this Lease).
5. (Intentionally Deleted)
Appears in 1 contract
Sources: Commercial Lease (Smith & Wollensky Restaurant Group Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Scios Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
and (2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
and (3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent, and (d) all prorated costs and expenses related to the Ardenwood Property Owners' Associations as set forth in Paragraph 49. The additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorated share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Upon request, by Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursreasonable detail supporting such invoices. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.term
Appears in 1 contract
Additional Rent. Beginning with Lessee shall pay, as additional rent above the commencement date Rent set forth in Section 4.1 (the "Additional Rent"), Lessee's pro rata share for all common area maintenance of the term Building attributable to the operation and maintenance of the Building, including snow removal, real estate taxes, levies and special assessments assessed by any governmental authority with respect to the Building, water and sewer charges, the usual and necessary maintenance, repair and replacement (provided such is not a capital improvement or investment, but rather the item is beyond repair in the exercise of reasonable judgment and requires replacement) of the roof, structure, plumbing, electrical and gas components of the Building, the parking area and landscaping adjacent to the Building (collectively "CAM Charges"). CAM Charges do not include replacement of capital improvement or investment items, specific costs billed to specific tenants, management fees, Lessor's responsibilities detailed in Section 6 of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15mortgage obligations, including reasonable deductibles and the pre-payment of premiums for coverage of up interest now or to one year. The amount of earthquake insurance deductibles actually be paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only Building or the amortized portion during realty on which the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operationBuilding is located, management, maintenance and repair depreciation of the Building or equipment therein, any interest, net income, franchise, capital stock, gift, inheritance, transfer or estate taxes payable by Lessor, executive salaries, or real estate brokers' commissions. Lessee's pro rata share is forty-five percent (including common areas 45%). Any upgrades, replacements involving capital improvements or investments or similar modifications (collectively "Upgrades") to the Building shall not be deemed CAM Charges, and shall be Lessor's sole responsibility and expense; provided, if Lessor believes an Upgrade falls within the CAM Charges, Lessor shall provide 20 days prior written notice with the details of the Building) Upgrade to Lessee, which the parties will use their best efforts to mutually resolve as to the Upgrade and Common Areas the division of responsibilities for its implementation and costs. In the absence of any such resolution, Lessor and Lessee agree to arbitrate the matter in accordance with Section 20 of this Lease. Similarly, if Lessee believes any action taken or charges incurred by Lessor is not within usual and necessary maintenance and should not be included in the CAM Charges, the Lessee shall provide Lessor with 20 days written notice with the details of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amountsmatter, and all damagesLessor and Lessee shall use their best efforts to mutually resolve the matter, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part if not, proceed to comply arbitration in accordance with the terms Section 20 of this Lease. In the event of nonpayment by Tenant order to provide for current monthly payments of Additional Rent, Landlord Lessor shall have all submit to Lessee a written statement of Lessor's estimate of the rights CAM Charges for that lease year, which estimate shall be reasonably based upon last year's CAM charges and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant reasonably based on current cost increases ("Estimated Additional Rent"); and based on the Estimated Additional Rent, Lessee shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such the Additional Rent items, which estimated amount shall be reconciled at in monthly installments with the Rent. Within thirty (30) days of the end of each calendar lease year as compared to Landlord’s (the "Applicable Year") during the Term, Lessor shall provide Lessee with the actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant CAM Charges (providing Tenant is not in default in the performance of any of "Actual CAM Charges") which shall then become the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent CAM Charges for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution immediately succeeding year; and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth if the Additional Rent paid by the Lessee for each the Applicable Year exceeded the Actual CAM Charges, the excess shall be credited toward payment of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations next installment of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this LeaseAdditional Rent to be paid by Lessee, and if the term hereof shall expire or shall otherwise terminate on a day other Additional Rent was less than the last day of a calendar yearActual CAM Charges for the Applicable Year, the actual Additional deficiency will be paid by Lessee to Lessor with the next Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365payment.
Appears in 1 contract
Additional Rent. Beginning with The Tenant agrees to pay, as additional rent ("Additional Rent") to the commencement date of Landlord, a sum equivalent to its Proportionate Share, as defined herein, of:
(a) The annual real estate taxes, assessments, and other impositions generally or specifically imposed at any time during the term or any extension of this Lease, upon the Building and land upon which it is situated; and,
(b) The annual cost of Landlord’s insurance covering the Building against loss or damage by fire or other casualty and such other hazards and risks and in such amounts, and such other coverage and types of insurance as the Landlord may determine; and
(c) The Landlord's annual cost of the common area maintenance, including but not limited to landscaping, snow and ice removal, parking area cleaning, restriping, repainting, and repaving, liability insurance, policing, lighting, refuse disposal, cost of illumination and maintenance of signs, utilities not otherwise separately metered and payable by other tenants of the Leased Premises, personal property taxes, supplies, all costs and expenses of enforcing the rules and regulations established by the Landlord for the Building, and any other reasonable and necessary expenses customary for a Building which are incurred to maintain the common areas of the Building. For purposes of this Lease, Tenant's proportionate share shall be defined as being _______ (______%) percent ("Proportionate Share"). Tenant shall likewise pay any increase in taxes attributable to any alteration, improvement, or addition made by the Tenant and any tax attributable to any sign of the Tenant. Tenant’s Additional Rent for each year of the Term shall be estimated by Landlord at the commencement of each such year, and shall be payable by Tenant in equal monthly installments as reasonably determined by Landlord. As soon as practicable, but in no event less than annually at the end of each year of the Term, the Landlord will forward to the Tenant an accounting of all actual expenses as provided herein for such year or portion thereof, and Tenant shall, within thirty (30) days of receipt thereof, pay to the Landlord any deficiency between the estimated amount paid and the actual incurred charges. In the event Tenant has paid the Landlord in addition excess of the actual expenses as provided herein for such year or portion thereof, such excess shall be applied to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating Additional Rent for the immediately following year and such amount of excess payment shall be confirmed by the LANDLORD, in writing, to the Complex as set forth in Paragraph 11, and
TENANT within thirty (230) Tenant’s proportionate share days of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one yearsuch accounting. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in first year of the first twelve Term is __________________________ and ____/100 (12$____________) months Dollars. It is agreed by both Landlord and Tenant that the intent of this Lease is to be an absolute net lease and that the Tenant shall be $22,600.00 per month. Prior to execution share proportionately in any and delivery of this Lease by both partiesall taxes, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Leaseinsurances, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365common area maintenance charges.
Appears in 1 contract
Sources: Commercial Lease Agreement
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the he Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, expenses which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, expenses that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason means of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items, after presentation of invoice from Landlord or Landlord's agent, setting forth such Additional Rent and/or (ii) at the option of Landlord Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as year, or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual accrued expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, Lease and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Autoweb Com Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2a) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord’s agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord’s agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate prorata share of an any amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as or more frequently if Landlord so elects to do so at Landlord’s sold and absolute discretion, compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount amounts of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Shutterfly Inc)
Additional Rent. Beginning with Commencing January 1, 2020 and each year thereafter during the commencement date of the term of this LeaseTerm hereof, Tenant in addition to Base Rent, Sub-Subtenant shall pay to Landlord Sub-Sublandlord as Additional Rent (“Additional Rent”): (i) 8.2328% of the increases in the Building’s Operating Expenses (the “Operating Expenses Escalation”) over the 2019 Base Operating Expense Year and for each year following the Base Operating Expense Year, and (ii) the 7.6725% of the increases in the Building’s Taxes (the “Tax Escalation” and together with the Operating Expenses Escalation, the “Escalation Rent”) over the 2019/2020 Base Year (the “Base Tax Year”) and for each year following the Base Tax Year. Sub-Subtenant shall pay Escalation Rent in monthly installments on the first day of each month in an amount set forth in a written estimate by Sub-Sublandlord; provided, however, if there is a change in the amount of Escalation Rent payable by Sub-Subtenant, Sub-Sublandlord shall to provide such written estimate to Sub-Subtenant at least fifteen (15) days before such amount is first due. Sub-Sublandlord shall promptly forward to Sub-Subtenant all estimates and reconciliation statements that Sub-Sublandlord receives from Sublandlord and/or Prime Landlord. At the same time, in addition to such estimates or reconciliation statements. Sub-Sublandlord shall provide Sub-Subtenant its calculation of Escalation Rent for such calendar or fiscal year, as well as supporting documentation to the Basic Rent and as extent provided by Sublandlord or Prime Landlord or developed independently by Sub-Sublandlord. In the event an adjustment to Operating Expenses or Taxes or any other Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11is made by Prime Landlord and/or Sublandlord, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid Escalation Rent shall be amortized ( including interest at adjusted accordingly. Upon written request from Sub-Subtenant, Sub-Sublandlord shall promptly exercise any right it may have to cause Sublandlord’s or Prime Landlord’s books and records to be audited; provided, however, that Sub-Subtenant shall pay the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair cost of the Building (including common areas of the Building) audit and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7indemnify, and
(5) All chargesdefend and hold harmless Sub-Sublandlord from and against all claims, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penaltiesdamages, costs and expenses including attorneys’ fees incurred by Sub-Sublandlord as a result of the audit. The Base Rent and legal expensesAdditional Rent may sometimes be referred to herein collectively as the “Rent.” Notwithstanding anything herein to the contrary, that may accrue thereto in Sub-Subtenant shall not be responsible for any sums due under the event Prime Lease or Sublease which are not due from Sub-Subtenant to Sub-Sublandlord pursuant to the express terms of Tenant’s this Sub-Sublease, or which are due under the Prime Lease, Sublease or this Sub-Sublease and are assessed as a result of the failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part Sub-Sublandlord to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant Prime Lease and/or Sublease unless Sub-Subtenant is not in default in the performance of any of the terms, covenants and conditions terms or provisions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar yearSub-Sublease, the actual Additional Rent incurred for Sublease or the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled Prime Lease on the basis of the statement of actual Additional Rent for date such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration sums are assessed by Sublandlord or termination bears to 365Prime Landlord.
Appears in 1 contract
Sources: Sub Sublease Agreement (Braze, Inc.)
Additional Rent. Beginning with the commencement date of the term of this LeaseCommencement Date, Tenant shall pay to Landlord in addition to the Basic Rent and as the following additional amounts (“Additional Rent the following:Rent”):
(1) Tenant’s 's proportionate share ("Tenant's Share") as specified in Paragraph 1.F, of all utilities Real Property Taxes relating to the Complex Complex, as set forth in Paragraph 1114, and
(2) Tenant’s proportionate share 's Share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all property insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(43) Tenant’s proportionate share 's Share of expenses for the operation, management, maintenance and repair of the Building (including common areas Common Areas of the Building) and Common Areas of the Complex in which the Premises are located located, as set forth in Paragraph 79, and
(4) The sums required to reimburse Landlord for the cost of repairs and maintenance to the Premises, as set forth in Paragraph 12; and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including without limitation attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentBasic Rent. Tenant The Additional Rent due hereunder shall pay be paid to Landlord or Landlord's agent (i) within ten (10) days for taxes and insurance and within ten (10) days for all other Additional Rent items after presentation of an invoice from Landlord or Landlord's agent setting forth such Additional Rent, and/or (ii) at the option of Landlord, directly to the designated recipient thereof, as and when such amounts are due, in accordance with statements or invoices presented to Tenant; and/or (iii) at the option of Landlord, to Landlord monthly, in advance, Tenant’s proportionate share of in an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) applying any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated items to Basic Rent and/or Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursnext becoming due. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof Lease Term shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof Lease Term expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s 's proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Landlord shall provide Tenant reasonably adequate supportive documentation to the reconciliation. Tenant’s 's payment for such estimated Additional Rent for as of the Early Access Period as well as in commencement of the first twelve (12) months term of this Lease lease shall be Six Thousand Six Hundred and 00/000 ($22,600.00 6,600.00) Dollars per month. Prior Any payments required to execution and delivery of this Lease be made by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. Basic Rent, pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Intuit Inc)
Additional Rent. Beginning with This Lease is intended by the commencement date of parties hereto to be a so-called “net” lease, to the term of this Lease, Tenant shall pay to Landlord in addition to end that the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share shall be received by Landlord net of all utilities relating costs and expenses related to the Complex Premises as set forth in Paragraph 11this Lease, and
(2) and net of Tenant’s proportionate share Share, as hereinafter defined, of all Taxes relating Common Expenses. The same shall be paid to Landlord commencing on the Complex Early Access Date, and thereafter upon demand as set forth additional rent (sometimes referred to as “Additional Rent”), in Paragraph 12, and
(3) the same manner as Basic Rent. Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair Share of the Building (including common areas of the Building) and Common Areas of the Complex Building shall at all times be 22.94%, subject to adjustment to the extent that the size of the Premises is reduced as a result of eminent domain, fire, accident, or casualty. For the purposes hereof, the term “Park” shall mean the Building and those other buildings currently owned by Landlord and numbered 200, 500, 600 and 8▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇. Landlord shall, in its commercially reasonable discretion, make such allocations as Landlord may deem appropriate of expenses between Common Areas of the individual buildings and those of the Park as a whole. Currently, the Park expenses include the costs of landscaping Research Drive (of which the Premises are located Building’s share is 16.09%), and the costs of maintaining and repairing the water booster station serving certain buildings in the Park (of which the Building’s share is 19.20%). In addition to Common Expenses, Tenant shall also pay as set forth in Paragraph 7Additional Rent, and
(5) All promptly upon being billed therefor by Landlord, any and all charges, costs and costs, expenses, which Tenant is required and obligations as Landlord may from time to pay hereundertime incur with regard to the Premises or the operation or maintenance thereof (to the extent not properly included in Common Expenses), together with all interest and penaltiesexcept as otherwise expressly agreed in this Lease, costs and expenses including including, without limiting the generality of the foregoing, reasonable attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended incurred by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of connection with any of the terms, covenants subleases and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months assignments of this Lease shall be $22,600.00 per month. Prior to execution requested by Tenant and delivery in connection with the enforcement of rights and pursuit of the remedies of Landlord under this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive whether during or after the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Term).
Appears in 1 contract
Sources: Lease (Implant Sciences Corp)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest interests and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term item hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term terms hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Transmeta Corp)
Additional Rent. Beginning with 4.1 An integral part of Landlord's leasing program for the commencement date Building involves the requirement that Tenant bear the costs and expenses incurred each year in the operation of the term Building and the Land. For so long as Tenant is the sole tenant of this Leasethe Building, Tenant shall pay have the right to Landlord in addition to provide input into the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share determination of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, such annual costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in as follows. Within sixty (60) days following the event of Tenant’s failure to pay such amountsLease Commencement Date, and all damages, reasonable costs and expenses which Landlord may incur by reason on or before November 15 of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each first full calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which following the Lease Commencement Date occurs. The respective obligations of and on or before November 15 annually thereafter, Landlord shall prepare and submit to Tenant under this Paragraph 4 shall survive the expiration a proposed budget or other termination form of summary identifying with reasonable detail the term anticipated categories of this Leaseexpenditures to be made, proposed major vendors to provide services and if the term hereof shall expire or shall otherwise terminate on a day other than the last day proposed scope of a calendar yearservices (including, the actual Additional Rent incurred but not limited to, security services) to be provided by Landlord for the ensuing calendar year in which the term hereof expires or otherwise terminates shall be determined operation and settled on the basis maintenance of the statement Building and the Land (the "OPERATING PLAN"). If Tenant has reasonable additions, deletions or modifications to any elements of actual Additional Rent for such calendar year Landlord's proposed Operating Plan , Tenant shall notify Landlord of same within thirty (30) days following receipt of the proposed Operating Plan and Landlord shall incorporate Tenant's reasonable additions, deletions and modifications into Landlord's proposed Operating Plan and shall operate the Building substantially in accordance therewith; provided that, in no event shall Landlord be obligated to operate the Building or the Land in a manner that is inconsistent with the standards of a Class A suburban office building. The Operating Plan (as it may be revised with Tenant's input as aforesaid) shall serve as a general guide to the scope of services to be provided and expenditures to be made in the operation and maintenance of the Building and Land and Landlord shall not deviate therefrom in any material manner without first obtaining Tenant's prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, and shall be prorated deemed given if not withheld in writing within seven (7) business days following Landlord's notice thereof to Tenant; provided that, in case of emergency or in any case in which Landlord reasonably believes delay might cause injury to persons, material injury to property or a violation of any Legal Requirement, Landlord may act without Tenant's prior written consent. Any failure of Landlord to timely provide an annual Operating Plan to Tenant as provided herein shall not relieve Tenant of its obligation to pay additional rent pursuant to this Article IV.
4.2 The costs and expenses (the proportion "EXPENSES") for which the number of days in such calendar year preceding such expiration or termination bears to 365.Tenant shall be responsible are defined as follows:
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant and the audit is not challenged by Landlord, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Neoforma Com Inc)
Additional Rent. Beginning with the commencement date of the term of this LeaseCommencement Date, Tenant shall pay to Landlord Landlord, in addition to the Basic Rent and as Rent, the following additional amounts ("Additional Rent the following:Rent"):
(1) Tenant’s 's proportionate share ("Tenant's Share") as specified in Paragraph 1.F, of all utilities Real Property Taxes relating to the Complex Complex, as set forth in Paragraph 1114, and
and (2) Tenant’s proportionate share 's Share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all property insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(43) Tenant’s proportionate share 's Share of expenses for the operation, management, maintenance and repair of the Building (including common areas Common Areas of the Building) and Common Areas of the Complex in which the Premises are located located, as set forth in Paragraph 79, and
and (4) The sums required to reimburse Landlord for the cost of repairs and maintenance to the Premises, as set forth in Paragraph 12; and (5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including without limitation attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentBasic Rent. Tenant The Additional Rent due hereunder shall pay be paid to Landlord or Landlord's agent monthly, in advance, Tenant’s proportionate share of in an amount reasonably estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) applying any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated items to Basic Rent and/or Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursnext becoming due. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof Lease Term shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof Lease Term expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Logic Devices Inc)
Additional Rent. Beginning with (1) Tenant shall pay Landlord as “Additional Rent” for each calendar year or portion thereof during the commencement date Term Tenant’s Share of the term sum of this Lease(x) the amount (if any) by which Operating Costs for such period exceed Base Operating Costs, and (y) the amount (if any) by which Taxes for such period exceed Base Taxes.
(2) As soon as reasonably practical, at the end of the Base Year and each calendar year thereafter, Landlord shall notify Tenant of Landlord’s estimate of Operating Costs, Taxes and Tenant’s Additional Rent for the upcoming calendar year. Commencing on the first day of January of each calendar year and continuing on the first day of every month thereafter in such year, Tenant shall pay to Landlord in addition one-twelfth (1/12th) of the estimated Additional Rent. If Landlord thereafter estimates that Operating Costs or Taxes for such year will vary from Landlord’s prior estimate, Landlord may, by notice to Tenant, revise the Basic Rent estimate for such year (and as Additional Rent shall thereafter be payable based on the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, andrevised estimate).
(3) No later than one hundred fifty (150) days after the end of the Base Year and each calendar year thereafter, Landlord shall furnish Tenant a statement with respect to such year, showing Operating Costs, Taxes and Additional Rent for the year, and the total payments made by Tenant with respect thereto. Landlord’s failure to deliver the annual statement within such 150-day period shall not be deemed a waiver of Landlord’s rights on account of any underpayment by Tenant of Operating Costs, Taxes or Additional Rent (and Landlord’s rights shall continue in full force and effect); provided, however, that following the expiration of the Term and Tenant’s proportionate share vacating the Premises, Landlord must provide such statement no later than one year after the expiration of the Term and Tenant’s vacating the Premises and, if Landlord fails to provide such statement within such 1-year period, Landlord shall not be entitled to demand that Tenant pay to Landlord any underpayment of Operating Costs, Taxes or Additional Rent. Unless Tenant raises any objections in writing to Landlord’s statement within one hundred fifty (150) days after Tenant’s receipt of the same, such statement shall conclusively be deemed collect and Tenant shall have no right thereafter to dispute such statement or any item therein or the computation of Additional Rent based thereon. If Tenant does object to such statement, then Landlord shall provide Tenant with the opportunity to inspect and audit Landlord’s books and records in order to verify the figures shown on the statement. Any such audit must be performed by an employee of Tenant with appropriate accounting or finance experience, or by an accounting firm pursuant to an hourly or flat fee arrangement not contingent on any savings realized as a result of the audit. Upon receipt of Tenant’s audit, Landlord shall have the right, but not the obligation, to review the audit or have the audit reviewed by a certified public accounting firm selected by Landlord and at Landlord’s cost. The patties shall negotiate in good faith to resolve any disputes. Any objection of Tenant to Landlord’s statement and resolution of any dispute shall not postpone the time for payment of any amounts due Landlord based on Landlord’s statement. If it is finally determined that Landlord overcharged Tenant by more than six percent (6%) of what the actual charges should have been, then Landlord shall reimburse Tenant for the actual, reasonable costs of the audit, not to exceed Ten Thousand Dollars ($10,000.00). Landlord shall not be deemed to be in default under this Lease as a result of Landlord’s overcharging Operating Costs, but Landlord shall refund the amount of any overpayment by Tenant and, if applicable, pay the costs of Tenant’s audit, all insurance premiums relating to on the Complex, as terms and conditions more particularly set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; andabove.
(4) If Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each as finally determined for any calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in exceeds the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated total payments made by Tenant in excess on account thereof, Tenant shall pay Landlord the deficiency within thirty (30) days of Tenant’s receipt of Landlord’s actual expenditures for said statement. If the total payments made by Tenant on account thereof exceed Tenant’s Additional Rent items. as finally determined for such year, Tenant’s excess payment for such estimated shall be credited toward the Rent next due from Tenant under this Lease. For any partial calendar year at the beginning or end of the Term, Additional Rent shall be prorated on the basis of a 360-day year by computing Tenant’s Share of the increases in Operating Costs and Taxes for the Early Access Period as well as entire year and then prorating such amount for the number of days during such year included in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursTerm. The respective obligations of Landlord to refund any overpayment of Additional Rent and of Tenant under this Paragraph 4 to pay any Additional Rent not previously paid shall survive the expiration or other termination of the term of this Lease. Landlord shall pay to Tenant or Tenant shall pay to Landlord, and if as the term hereof shall expire or shall otherwise terminate on a day other than the last day case may be, within thirty (30) days after Tenant’s receipt of a calendar year, the actual Additional Rent incurred Landlord’s final statement for the calendar year in which this Lease terminates, the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual difference between Tenant’s Additional Rent for such calendar year that year; as finally determined by Landlord, and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365total amount previously paid by Tenant on account thereof.
Appears in 1 contract
Sources: Assignment and Assumption of Lease (LendingClub Corp)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the BuildingBuildings) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses expense; including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated pro rated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date Commencement Date of the term Term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following: Initial:________ Multi Tenant/Complex Page 3 of 27 BUILDING: Wesport 17 PROPERTY: 30-0017 UNIT: 4 LEASE ID: 0117-FVCC01-01
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share 's Proportionate Share of all Taxes relating to the Complex and Premises as set forth in Paragraph 1213, and
(3b) Tenant’s proportionate share 's Proportionate Share of all insurance premiums and deductibles relating to the ComplexComplex and Premises, as set forth in Paragraph 1517, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s proportionate share 's Proportionate Share of expenses for the operation, management, maintenance maintenance, and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentRent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent (notwithstanding anything to the contrary herein, Landlord shall not be required to submit ongoing monthly statements to Tenant reflecting amounts owed as Additional Rent) and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at (i) within one hundred twenty (120) days of the end of each calendar year and (ii) within 120 days of the Lease Termination Date (or as soon thereafter as reasonably possible if, for whatever reason, the Landlord cannot complete the reconciliation within said 120 day periods) or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in Landlord may withhold any amount thereof required to cure Tenant's default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent itemsItems. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records specifically limited to the foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Tenant shall submit to Landlord a complete copy of said audit at no expense to Landlord and a written notice stating the results of said audit, and if such estimated Additional Rent for notice by Tenant and the Early Access Period as well as in respective audit reveals that Landlord has overcharged Tenant, and the first twelve (12) months of this Lease audit is not challenged by Landlord, the amount overcharged shall be $22,600.00 per month. Prior credited to execution Tenant's account within thirty (30) days after completion of Landlord's review and delivery approval of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurssaid audit. The respective obligations audit rights of Landlord and Tenant under this Paragraph 4 4.D are granted for Tenant's personal benefit and may not be assigned or transferred by Tenant, either voluntarily or by operation of law, in any manner whatsoever. In the event that Landlord consents to an assignment under Paragraph 21, the audit rights herein shall survive be void and of no force and effect, whether or not Tenant shall have purported to exercise its right to audit Landlord's records prior to such assignment. Notwithstanding anything to the expiration contrary herein, no subtenant shall have any right to conduct an audit of Landlord's books and/or records. Landlord may if so requested by Tenant, but shall not be required to, provide Tenant with copies of individual invoices related to the foregoing actual expenses, either by facsimile or by U.S. mail; however, in no event shall Landlord be obligated to provide duplicate copies of any invoice or other termination Lease documentation to Tenant and/or Tenant's representative (if any) for an audit of the term Tenant's records outside of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Landlord's office.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentrent and
(d) All prorated costs and expenses related to the Ardenwood Property Owner's Association as set forth in Paragraph 45. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five business days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent itemsItems. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. If such estimated Additional Rent for audit reveals that Landlord has overcharged Tenant, the Early Access Period as well as in the first twelve (12) months of this Lease amount overcharged shall be $22,600.00 per month. Prior credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365audit is concluded.
Appears in 1 contract
Sources: Lease Agreement (Cell Genesys Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, . Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Selectica Inc)
Additional Rent. Beginning with the commencement date ▇▇▇▇ of the term of this Lease, Tenant shall Shall pay to Landlord landlord in addition to the Basic basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, . as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) ); and Common Areas of the Complex in which the Premises are located as set se' forth in Paragraph 7, and
(5d) All charges, costs and expenses, expenses which Tenant is required to pay hereunder, hereunder together with all interest and penalties, penalties costs and expenses expends including attorneys’ attorneys fees and legal expenses, expense that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, amounts and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part 's pan to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days after for taxes and insurance and within thirty days for all other Additional Rent after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord Tenant shall pay to Landlord landlord monthly, in advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year year, or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, demand any amount of actual expenses expended by Landlord in excess of said estimated amount, amount or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s Landlord s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with (1) Commencing on the commencement date Commencement Date and continuing throughout the Term of the term of this Lease, Tenant shall pay to Landlord in addition to Landlord, as "Additional Rent", Tenant's Share of the Basic Rent sum of Operating Costs and as Additional Rent the following:
Taxes for each calendar year, or portion thereof, occurring during the Term (1) except that Tenant’s proportionate share 's Share of all utilities relating to estimated Operating Costs and the Complex as set forth in Paragraph 11, andTaxes for the first full calendar month of the Term shall be paid upon Tenant's execution of this Lease).
(2) Tenant’s proportionate share of all Taxes relating Prior to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating Commencement Date and thereafter prior to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year year. Landlord shall notify Tenant of Landlord's estimate of Operating Costs and the Taxes to be paid as compared to Landlord’s actual expenditure for said a component of Additional Rent itemsfor the following calendar year. 6 WEST\225501828.8
(3) As soon as reasonably practicable after the end of each calendar year, Landlord shall furnish Tenant a statement (the "Statement") with Tenant paying respect to Landlordsuch year, upon demandshowing Operating Costs, and any amount of actual expenses expended by Landlord in excess of said estimated amountother Additional Rent for the year, or Landlord refunding to Tenant (providing Tenant is not in default in and the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated total payments made by Tenant in excess with respect thereto. Unless Tenant raises any objections to Landlord's Statement within ninety (90) days after receipt of the same. Tenant shall have no right thereafter to audit Landlord’s actual expenditures for said Additional Rent items's books and records with respect to such Statement. Tenant’s payment for If Tenant does object to such estimated Additional Rent for Statement within the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both partiesrequisite time period, then Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each with reasonable verification of the two (2) full calendar years preceding figures shown on the calendar year Statement and the parties shall negotiate in which the Lease Commencement Date occursgood faith to resolve any disputes. The respective obligations of If after such negotiations Landlord and Tenant under this Paragraph 4 cannot agree upon the amount of Operating Costs, then Tenant shall survive have the expiration right to have a certified public accountant (at Tenant's sole cost and expense) and approved by Landlord (which approval shall not be unreasonably withheld or other termination delayed), audit and/or review Landlord's books and records relating to the Statement and the calculation of Operating Costs for the year in question (the "Independent Review"). The results of any such Independent Review shall be binding on Landlord and Tenant, unless Landlord elects, within sixty (60) days of receipt of the term results of this Leasethe Independent Review, and if to initiate legal proceedings to resolve any disputes regarding conclusions in the term hereof shall expire or shall otherwise terminate on a day other than Independent Review that Landlord does not accept. If the last day of a calendar year, Independent review and/or any legal proceedings with respect thereto show that the actual Additional Rent incurred Operating Costs actually paid by Tenant for the calendar year in which question exceeded Tenant's obligations for such calendar yeai. Tenant may offset such excess against Rent due under the term hereof expires or otherwise terminates Lease or, if no rent remains due. Landlord shall be determined and settled on pay the basis excess to Tenant within fifteen (15) days after final determination of the statement Operating Costs after deducting all other amounts due Landlord. If the Independent Review and/or any legal proceedings with respect thereto show that Tenant's payments of actual Additional Rent Operating Costs for such calendar year were less than Tenant's obligation for the calendar year, Tenant shall pay the deficiency to the Landlord within fifteen (15) days after final determination of the Operating Costs. If the Independent Review and/or any legal proceedings with respect thereto show that Tenant has overpaid Operating Costs for the year in question by more than five percent (5%), then Landlord shall reimburse Tenant for all reasonable costs paid by Tenant to the firm performing the Independent Review. Operating Costs for the calendar years in which Tenant's obligation to share therein begins and ends shall be prorated in prorated. Any failure of Landlord to deliver Landlord's Statement as provided herein shall not reUeve Tenant of Tenant's obligation to pay any amounts due Landlord based on Landlord's Statement, so long as the proportion which the number of days in such Statement for any calendar year preceding such expiration or termination bears to 365is delivered not later than nine (9) months after the end of the calendar year.
(4) If Tenant's Additional Rent as finally determined for any calendar year exceeds the total payments made by Tenant on account thereof, and Tenant does not timely object thereto as permitted under subparagraph (3) above. Tenant shall pay Landlord the deficiency within five (5) days of Tenant's receipt of Landlord's Statement. If, however, Tenant 7 WEST\225501828.8
Appears in 1 contract
Sources: Sublease (eHealth, Inc.)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney’s fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate prorata share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Within 90 days after receipt of Landlord’s statement setting forth actual expenditures for Additional Rent items (the “Statement”), Tenant shall have the right to audit at Landlord’s local offices, at Tenant’s expense, Landlord’s accounts and records relating to Additional Rent. Such audit shall be conducted by a certified public accountant approved by Landlord, which approval shall not be unreasonably withheld. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within 30 days after the audit is concluded. In addition, if the Statement exceeds the actual Additional Rent which should have been charged to Tenant by more than 5%, the reasonable cost of the audit shall be paid by Landlord. Tenant’s payment for such estimated Additional Rent for as of the Early Access Period as well as in commencement of the first twelve (12) months Term of this Lease shall be Three Thousand Three Hundred Seven and 08/100 ($22,600.00 3,307.08) Dollars per monthmonth ($0.93 x 3,556 s.f. Prior = $3,307.08). Any payments required to execution and delivery of this Lease be made by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. Basic Rent pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.. INITIAL HERE INITIAL HERE
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 11paragraph 9, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Faroudja Inc)
Additional Rent. Beginning with the commencement date Commencement Date of the term Term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex and Premises as set forth in Paragraph 1213, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the ComplexComplex and Premises, as set forth in Paragraph 1517, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance maintenance, and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentRent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent (notwithstanding anything to the contrary herein, Landlord shall not be required to submit ongoing monthly statements to Tenant reflecting amounts owed as Additional Rent) and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within one hundred twenty (120) days of the end of each calendar year or more frequently if Initial:__________ Multi Tenant/Complex BUILDING: Westport 5 PROPERTY: 30-0105 UNIT: 3 LEASE ID: 0105-GUPT01-01 Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in Landlord may withhold any amount thereof required to cure Tenant's default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent itemsItems. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records specifically limited to the Early Access Period as well as in the first twelve (12) months foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Tenant shall submit to Landlord a complete copy of this Lease shall be $22,600.00 per month. Prior said audit at no expense to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive a written notice stating the expiration or other termination results of the term of this Leasesaid audit, and if such notice by Tenant and the term hereof shall expire or shall otherwise terminate on a day other than respective audit reveals that Landlord has overcharged Tenant, and the last day of a calendar yearaudit is not challenged by Landlord, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates amount overcharged shall be determined credited to Tenant's account within thirty (30) days after completion of Landlord's review and settled on the basis approval of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365said audit.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s 's proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord in Landlord's reasonable judgement based on prior year's expenses to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord promptly refunding to Tenant (providing Tenant is not in default beyond any applicable notice and cure period in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Landlord shall provide Tenant reasonably adequate supporting documentation to the reconciliation. Landlord's estimate of the 1999 expense and Tenant’s 's payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination commencement of the term of this Lease, and if the term hereof lease shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual be six thousand two hundred ($6,200.00) Dollars per month Any payments required to be made by Tenant for Additional Rent incurred shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for Basic Rent pursuant to paragraph 4 A. For purposes of calculating Tenant's proportionate share of Additional Rent Expenses for the calendar year in Complex it is hereby mutually agreed the proportionate share is 100% because Tenant leases the entire building and the parcel of land upon which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365it is located.
Appears in 1 contract
Sources: Lease Agreement (Intuit Inc)
Additional Rent. Beginning with In addition to the commencement date of the term of this LeaseBase Rent, Tenant shall pay to Landlord as Additional Rent, in addition the manner provided for in the section identified as Operating Costs Budget in Section 4 below, in United States dollars, during the Lease Term, and any extensions or renewals thereof, whether by operation of law or otherwise, Tenant’s Pro Rata Share (defined below) of all Operating Costs (also referred to as “Common Area Maintenance Charges” or “CAM”) which are estimated to be $3.67 per square foot for Year 1 of the Lease Term relating to the Basic Building and the Premises. For purposes of this Lease: (i)”Tenant’s Pro Rata Share” shall be the percentage which the leasable square footage of the Premises bears to the total leasable square footage of the Building, which Landlord and Tenant agree is, at the time of this Lease, 1.3231 percent; (ii) Base Rent and as Additional Rent shall be referred to collectively hereinafter as “Rent”; and (iii)”Operating Costs” shall include, but not be limited to, all of the followingfollowing :
(1a) Tenant’s proportionate share of all utilities real estate taxes and assessments relating to the Complex as set forth Premises and the Building (“Real Estate Taxes and Assessments”) becoming due during the Lease Term, or any taxes which may be levied upon or assessed in Paragraph 11lieu of such taxes or assessments, andbut excluding any penalties or interest payable by reason of failure of Landlord to pay such taxes and assessments, unless such failure results from Tenant’s failure to timely pay Additional Rent to Landlord;
(2b) Tenant’s proportionate share of all Taxes expenses relating to all insurance maintained by Landlord relating to the Complex as set forth Premises and the Building including, without limitation, all-risk/hazard insurance, flood insurance, rent loss insurance, fire and extended coverage insurance, and comprehensive public liability insurance, including umbrella coverage in Paragraph 12, andamounts and with insurance companies acceptable to Landlord; Initial---Landlord: _____ Tenant: _____
(3c) Tenant’s proportionate share all bills and charges for common utilities such as gas, common electricity, water, sewage, trash disposal, and all other utility services consumed or used in connection with the Building. Tenants are responsible for utilities to their suites;
(d) sign maintenance, landscaping and lawn care, and snow removal;
(e) maintenance, repair and replacement of the Premises (including but not limited to electrical, plumbing, heating, air conditioning and mechanical equipment and the necessary tools and equipment associated therewith) and any part of the Building and all insurance premiums relating to the Complexparking areas and access drives, as set forth in Paragraph 15sidewalks and grounds;
(f) reasonable costs of operating personnel including salaries and related benefits, auditor fees, attorney fees and management fees;
(g) all taxes, fees, or assessments not described within subparagraph (a) herein, including reasonable deductibles but not limited to personal property taxes for equipment used to service the Building or fees or assessment charged by any infrastructure authority or owners’ association, but excluding income taxes assessed against and payable by Landlord;
(h) all costs incurred in the pre-payment maintenance of premiums for coverage of up a private street or shared access pursuant to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at any easement, covenant, agreement or restriction running with the rate of 8% per year on land where the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional RentBuilding is located; and
(4i) Tenant’s proportionate share all other costs not otherwise specifically set forth for operating, maintaining, repairing and lighting the Common Areas, the service areas, the garbage and refuse disposal facilities, the loading areas and all other non-leasable areas and facilities located in the Building. If any such improvements or expenses to be included as Operating Costs are determined to be capital improvements or expenditures (including but not limited to the replacement of expenses an air conditioning unit), Landlord shall include in computing Operating Costs for each year only that portion of the operationcost of such improvement or expenditure relating to that year, managementwhich shall be equal to the total cost of such improvement or expenditure divided by the number of years of the useful life of such improvement or expenditure. The intent of the foregoing is that the Tenant shall pay only for that portion of the cost of such improvement or expense which relates to each year during the Term. During any calendar year, maintenance and repair or portion thereof in which less that 95% of the total leasable square footage of the Building is leased, Landlord may increase all Operating Costs which vary with the level of occupancy (including e.g. common areas area electricity, gas, water, etc.) for the Building for that calendar year or portion thereof to reflect what such Operating Costs would have been had the Building been fully leased. The intent of the Building) and Common Areas foregoing is that Tenant shall always be responsible for its Pro Rata Share of all such Operating Costs based upon the ratio of the Complex in which Operating Costs relating to the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365entire Building.
Appears in 1 contract
Sources: Commercial Lease Agreement (Cardinal Energy Group, Inc.)
Additional Rent. Beginning with the commencement date Alt 1: Percentage Rent: Commencement Date Through percent ( %) of the term Gross Sales exceeding a Breakpoint of this Lease$ Through percent ( %) of Gross Sales exceeding a Breakpoint of $ Through percent ( %) of Gross Sales exceeding a Breakpoint of $ Through percent ( %) of Gross Sales exceeding a Breakpoint of $ Through percent ( %) of Gross Sales exceeding a Breakpoint of $ Prorations of Breakpoints for Partial Lease Years, and prorations for Lease Years containing two different Breakpoints for different periods, shall be as described in Article 3. Alt 2: Common Area Assessment. Tenant shall also pay to Landlord in addition as “Additional Rent”, upon demand, an amount equal to the Basic Rent and as Additional Rent the following:
its “Pro Rata Share” (1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums which for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term purposes of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share a fraction, the numerator of expenses for which is the operation, management, maintenance and repair square footage of the Building (including common areas Premises and the denominator of which is the total square footage of the Buildingbuilding in which the Premises are located) and of all expenses incurred by Landlord for (a) Common Areas of Area Maintenance, (b) insurance on the Complex building in which the Premises are located and the Common Areas, (c) taxes and assessments for the Premises and all improvements constructed thereon, and (d) maintenance and repair of the building in which the Premises are located and the Common Areas of the Premises. Tenant shall pay a monthly amount equal to Landlord’s estimate of such annual costs, which Landlord has initially determined to be [$ ] per month, and which Tenant shall pay in advance, on the first day of each month during the Term. Not less often than once every twelve months, Landlord shall provide to Tenant a statement of such costs, and with such statement a reconciliation of the monthly estimate of Tenant’s Pro Rata Share as set forth in Paragraph 7appropriate, and
(5) with any excess or deficiency being applied or added to Tenant’s next installment of Additional Rent. All charges, costs and expenses, other sums which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with under the terms of this Lease. In the event of nonpayment by Tenant of Lease shall also be paid as Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease
Additional Rent. Beginning There may be instances under this Agreement where Tenant may be required to pay additional charges to Landlord. All such charges are considered additional rent under this Agreement and will be paid with the commencement next regularly scheduled rent payment. Landlord has the same rights and Tenant has the same obligations with respect to additional rent as they do with rent. Utilities. Tenant is responsible for payment of all utility and other services for the Premises. Security Deposit. Upon signing this Agreement, Tenant will pay a security deposit in the amount of to Landlord. The security deposit will be retained by Landlord as security for Tenant’s performance of its obligations under this Agreement. The security deposit may not be used or deducted by Tenant as the last month’s rent of the Term.Tenant will be entitled to a full refund of the security deposit if Tenant returns possession of the Premises to Landlord in the same condition as accepted, ordinary wear and tear excepted. Within days after the termination of this Agreement, Landlord will return the security deposit to Tenant (minus any amount applied by Landlord in accordance with this section). Any reason for retaining a portion of the security deposit will be explained in writing. The security deposit will not bear interest while held by Landlord in accordance with applicable state laws and/or local ordinances. Landlord’s Failure to Give Possession. In the event Landlord is unable to give possession of the Premises to Tenant on the start date of the term Term, Landlord will not be subject to any liability for such failure, the validity of this LeaseAgreement will not be affected, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment Term will not be extended. Tenant will not be liable for rent until Landlord gives possession of premiums for coverage the Premises to Tenant. Holdover Tenancy. Unless this Agreement has been extended by mutual written agreement of up to one year. The amount of earthquake insurance deductibles actually paid shall the Parties, there will be amortized ( including interest at the rate of 8% per year on the unamortized cost) no holding over a period of ten (10) years and only the amortized portion during past the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with under the terms of this LeaseAgreement under any circumstances. If it becomes necessary to commence legal action to remove Tenant from the Premises, the prevailing Party will be entitled to attorney’s fees and costs in addition to damages. Use of Premises. The Premises will be occupied only by Tenant and Tenant’s immediate family and used only for residential purposes. Tenant will not engage in any objectionable conduct, including behavior which will make the Premises less fit to live in, will cause dangerous, hazardous or unsanitary conditions or will interfere with the rights of others to enjoy their property. Tenant will be liable for any damage occurring to the Premises and any damage to or loss of the contents thereof which is done by Tenant or Tenant’s guests or invitees. Condition of the Premises. Tenant has examined the Premises, including the appliances, fixtures and furnishings, and acknowledges that they are in good condition and repair, normal wear and tear excepted and accepts them in its current condition. Maintenance and Repairs. Tenant will maintain the Premises, including the grounds and all appliances, fixtures and furnishings, in clean, sanitary and good condition and repair. Tenant will not remove Landlord’s appliances, fixtures, or furnishings from the Premises for any purpose. If repairs other than general maintenance are required, Tenant will notify Landlord for such repairs. In the event of nonpayment default by Tenant, Tenant will reimburse Landlord for the cost of Additional Rentany repairs or replacement. Reasonable Accommodations. Landlord agrees to comply with all applicable laws providing equal housing opportunities, including making reasonable accommodations for known physical or mental limitations of qualified individuals with a disability, unless undue hardship would result. Tenant is responsible for making Landlord aware of any such required accommodations that are reasonable and will not impose an undue hardship. If Tenant discloses a disability and requests an accommodation, Landlord has the right to have a qualified healthcare provider verify the disability if the disability is not readily apparent, and Landlord has the right to use the qualified healthcare provider verifying the disability as a resource for providing the reasonable accommodation. Sex Offender Registry. Pursuant to law, information about specified registered sex offenders is made available to the public. Tenant understands and agrees that Tenant is solely responsible for obtaining any and all information contained in the state or national sex offender registry for the area surrounding the Premises, which can be obtained online or from the local sheriff’s department or other appropriate law enforcement officials. Depending on an offender’s criminal history, this information will include either the address at which the offender resides or the community of residence and zip code in which he or she resides. Compliance. Tenant agrees to comply with all applicable laws, ordinances, requirements and regulations of any federal, state, county, municipal or other authority. Mechanics’ Lien. Tenant understands and agrees that Tenant and anyone acting on Tenant’s behalf do not have the right to file for mechanic’s liens or any other kind of liens on the Premises. Tenant agrees to give actual advance notice to any contractors, subcontractors or suppliers of goods, labor or services that such liens are invalid. Tenant further agrees to take the additional steps necessary to keep the Premises free of any and all liens that may result from construction completed by or for Tenant. Subordination. With respect to the Premises, this Agreement is subordinate to any mortgage that now exists, or may be given later by Landlord. Alterations. Tenant will not make any alteration, addition or improvement to the Premises without first obtaining Landlord’s written consent. Any and all alterations, additions or improvements to the Premises are without payment to Tenant and will become Landlord’s property immediately on completion and remain on the Premises, unless Landlord requests or permits removal, in which case Tenant will return that part of the Premises to the same condition as existed prior to the alteration, addition or improvement. Tenant will not change any existing locks or install any additional locks on the Premises without first obtaining Landlord’s written consent and without providing Landlord a copy of all keys. Smoking. Smoking of any kind is strictly prohibited on any part of the Premises. This prohibition applies to Tenant and any visitor, guest or other occupant on the Premises. Pets. Tenant is not allowed to have or keep any pets, even temporarily, on any part of the Premises. The unauthorized presence of any pet will subject Tenant to penalties, damages, deductions and/or termination of this Agreement. Properly trained service animals that provide assistance to individuals with disabilities may be permitted on the Premises with the prior written consent of Landlord, which shall have not be unreasonably withheld. Tenant will be responsible for the costs of de-fleaing, deodorizing and/or shampooing all or any portion of the Premises if a pet has been on the Premises at any time during the Term (whether with or without written consent of Landlord). Fire and Casualty. If the Premises are damaged by fire or other serious disaster or accident and the Premises becomes uninhabitable as a result, Tenant may immediately vacate the Premises and terminate this Agreement upon notice to Landlord. Tenant will be responsible for any unpaid rent or will receive any prepaid rent up to the day of such fire, disaster or accident. If the Premises are only partially damaged and inhabitable, Landlord may make full repairs and will do so within a prompt and reasonable amount of time. At the discretion of Landlord, the rent may be reduced while the repairs are being made. Liability. Landlord is not responsible or liable for any loss, claim, damage or expense as a result of any accident, injury or damage to any person or property occurring anywhere on the Premises, unless resulting from the negligence or willful misconduct of Landlord. Renter’s Insurance. Tenant is required to obtain, and maintain at all times during the Term, a renter’s insurance policy with a minimum of $100,000.00 personal liability coverage. Tenant will name Landlord as an interested party or additional insured. Tenant will provide Landlord with a certificate or proof of insurance upon request. Assignment and Subletting. Tenant will not assign this Agreement as to any portion or all of the Premises or make or permit any total or partial sublease or other transfer of any portion or all of the Premises. Insurance Requirements. Tenant will not do or permit to be done any act or thing that will increase the insurance risk under any policy of insurance covering the Premises. If the premium for such policy of insurance increases due to a breach of Tenant’s obligations under this Agreement, Tenant will pay the additional amount of premium as additional rent under this Agreement. Right of Entry. Landlord or its agents may enter the Premises at reasonable times to inspect the Premises, to make any alternations, improvements or repairs or to show the Premises to a prospective tenant, buyer or lender. In the event of an emergency, Landlord may enter the Premises at any time. Surrender. Tenant will deliver and surrender to Landlord possession of the Premises immediately upon the expiration of the Term or the termination of this Agreement, clean and in as good condition and repair as the Premises was at the commencement of the Term, reasonable wear and tear excepted. Default. In the event of any default under this Agreement, Landlord may provide Tenant a notice of default and an opportunity to correct such default. If Tenant fails to correct the default, other than a failure to pay rent or additional rent, Landlord may terminate this Agreement by giving a day written notice. If the default is Tenant’s failure to timely pay rent or additional rent as specified in this Agreement, Landlord may terminate this Agreement by giving a day written notice to Tenant. After termination of this Agreement, Tenant remains liable for any rent, additional late, costs, including costs to remedy any defaults, and damages under this Agreement. Remedies. If this Agreement is terminated due to Tenant’s default, Landlord may, in addition to any rights and remedies with respect thereto as available under this Agreement and applicable law, use any dispossession, eviction or other similar legal proceeding available in law or equity. Subordination. This Agreement and Tenant’s right under it shall be subject and subordinate to the lien, operation and effect of each existing or future mortgage, deed of trust, ground lease and/or any other similar instrument of encumbrance covering any or all of the Premises, if any, and each renewal, modification, consolidation, replacement or extension thereof. Condemnation. If all or substantially all of the Premises are covered by a condemnation including the exercise of any power of eminent domain by a governmental authority, this Agreement shall terminate on the date possession of the Premises is taken by the condemning authority, and all rent under this Agreement shall be prorated and paid to such date. Landlord has is entitled to collect from the condemning authority the entire amount of any award made in any proceeding. Tenant waives any right, title or interest which Tenant may have to any such award and agrees to not make any claim for nonpayment the Term of rentthis Agreement. Hazardous Materials. Tenant shall pay to Landlord monthlynot keep on the Premises any item of a dangerous, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amountflammable, or Landlord refunding to Tenant (providing Tenant is not in default in explosive character that might unreasonably increase the performance danger of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration fire or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled explosion on the basis of the statement of actual Additional Rent for such calendar year and shall Premises or that might be prorated in the proportion which the number of days in such calendar year preceding such expiration considered hazardous or termination bears to 365extra hazardous by any responsible insurance company.
Appears in 1 contract
Sources: Lease Agreement
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
and (3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
and (5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount rent items shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, demand any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the XXXXXX calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.. See Paragraph 54
Appears in 1 contract
Sources: Lease Agreement (Vantive Corp)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s 's proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Landlord shall provide Tenant reasonably adequate supportive documentation to the reconciliation. Landlord's estimate of 1994 expense and Tenant’s 's payment for such estimated Additional Rent for as of the Early Access Period as well as in commencement of the first twelve (12) months term of this Lease lease shall be Six Thousand Six Hundred and 00/100 ($22,600.00 6,600.00) Dollars per month. Prior Any payments required to execution and delivery of this Lease be made by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. Basic Rent, pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.. (Paragraph 4D is continued below)
Appears in 1 contract
Sources: Lease Agreement (Intuit Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
and (3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
and (5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may my accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may my incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has ha for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (or if the Lease is terminated, then as a net refund to Tenant) (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Replaytv Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, Complex as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Leaselease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Transmeta Corp)
Additional Rent. Beginning with the commencement date of the term of this Leasein January 2007, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Real Estate Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney’s fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate prorata share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at in writing {the “Reconciliation Statement”) and provided to Tenant within one hundred fifty (150) days after the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period rent as well as in the first twelve (12) months of this Lease January 2007 shall be Five Thousand Seven Hundred ($22,600.00 5,700.00) Dollars per month. Prior Any payments required to execution and delivery of this Lease be made by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. Basic Rent pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant accruing under this Paragraph 4 paragraph prior to the expiration or earlier termination of the Lease shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365. Notwithstanding this Paragraph 4.D, if Tenant occupies the Premises with operating personnel for the conduct of its normal business activities (construction and facilities personnel engaged in preparing the space for Tenant’s occupancy shall not be considered operating personnel) prior to January 2007, Tenant shall immediately upon such occupancy commence payment of Additional Rent prorated as necessary for partial month occupancy based on a monthly estimated Additional Rent payment of $5,700.00. Tenant shall, as of the commencement date of the Lease, be responsible for the cost and expense of all utilities providing service exclusively to the Premises, janitorial service to the Premises, and all other services to be contracted for directly by Tenant as provided for in Paragraph 11 of the Lease.
Appears in 1 contract
Sources: Lease Agreement (Danger Inc)
Additional Rent. Beginning with This Lease is intended by the commencement date of parties hereto to be a so-called “net” lease, to the term of this Lease, Tenant shall pay to Landlord in addition to end that the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share shall be received by Landlord net of all utilities relating costs and expenses related to the Complex Premises as set forth in Paragraph 11this Lease, and
(2) and net of Tenant’s proportionate share Share, as hereinafter defined, of all Taxes relating Common Expenses. The same shall be paid to Landlord commencing on the Complex Term Commencement Date, and thereafter upon demand as set forth additional rent (sometimes referred to as “Additional Rent”), in Paragraph 12, and
(3) the same manner as Basic Rent. Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair Share of the Building (including common areas of the Building) and Common Areas of the Complex Building shall at all times be 53.61%, subject to adjustment to the extent that the size of the Premises is reduced as a result of eminent domain, fire, accident, or casualty. For the purposes hereof, the term “Park” shall mean the Building and those other buildings currently owned by Landlord and numbered 200, 500, 600 and ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇. Landlord shall, in its commercially reasonable discretion, make such allocations as Landlord may deem appropriate of expenses between Common Areas of the individual buildings and those of the Park as a whole. Currently, the Park expenses include the costs of landscaping Research Drive (of which the Premises are located Building’s share is 17.47%), and the costs of maintaining and repairing the water booster station serving certain buildings in the Park (of which the Building’s share is 20.84%). In addition to Common Expenses, Tenant shall also pay as set forth in Paragraph 7Additional Rent, and
(5) All promptly upon being billed therefor by Landlord, any and all charges, costs and costs, expenses, which Tenant is required and obligations as Landlord may from time to pay hereundertime incur with regard to the Premises or the operation or maintenance thereof (to the extent not properly included in Common Expenses), together with all interest and penaltiesexcept as otherwise expressly agreed in this Lease, costs and expenses including including, without limiting the generality of the foregoing, reasonable attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended incurred by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of connection with any of the terms, covenants subleases and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months assignments of this Lease shall be $22,600.00 per month. Prior to execution requested by Tenant and delivery in connection with the enforcement of rights and pursuit of the remedies of Landlord under this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive whether during or after the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Term).
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, . Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
(2b) Tenant’s proportionate share of all Taxes All insurance premiums and deductibles relating to the Complex Premise, as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in In the event of Tenant’s 's fall failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in In advance, Tenant’s proportionate 's pro rata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently, if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in clef cult In the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursItems. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Divine Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent itemsItems, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior to execution If such audit reveals that Landlord has overcharged Tenant and delivery of this Lease the audit is not challenged by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar yearLandlord, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates amount overcharged shall be determined and settled on credited to Tenant's account within thirty (30) days after the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365audit is concluded.
Appears in 1 contract
Sources: Lease Agreement (Ipass Inc)
Additional Rent. Beginning As additional rent, Tenant to pay pro rata share (07.00%) of increases over the Base Year (2008) of real estate and related taxes, and the aggregate cost of maintaining and operating the Building and its common areas. Costs of operating and maintaining the Building will include by way of example rather than limitation, costs of snow and ice removal; maintenance of elevator and elevator equipment if applicable, and parking lot and lighting equipment; cleaning and trash removal; repair and maintenance of storm and sewer system; electricity used in common areas, where applicable; repainting and maintenance of signs and light standards; exterior painting, landscaping, materials and services; management fees; and, insurance (general liability, loss of rent, fire and additional hazard insurance, and other insurance as Landlord deems necessary) which benefit all tenants in the Building. Notwithstanding the foregoing, costs of maintaining and operating the Building will exclude capital improvements, leasing improvements, and tenant improvement work. The first billing for any of these escalation costs will be presented for payment in early 2010 and will be calculated by taking 2009 expenses in excess of the 2008 Base Year Expenses. Sums billed under this paragraph will be due and payable by Tenant within 20 days after receipt of bills from Landlord for the first occurring year, and are to be paid monthly (estimated amount) for subsequent years. The building is approximately 95% occupied. To the best of Landlord’s knowledge no significant tenant plans to vacate the Building in 2008. In addition to the initial billing, Tenant will begin paying 1/12 of this amount toward the 2009 estimated escalation billing. This amount will then be adjusted annually based upon an actual accounting of the completed year’s experience. All sums or some or any of them, may become due by reason of the failure of Tenant to comply with the commencement date of the term terms and conditions of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may suffer or incur by reason of any default of Tenant or failure on by Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if any damages to the term hereof shall expire demised premises caused by any act or shall otherwise terminate on a day other than the last day omission of a calendar yearTenant, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall will be determined and settled on the basis payable within fifteen (15) days after receipt of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365bills from Landlord.
Appears in 1 contract
Sources: Lease Agreement (TRM Corp)
Additional Rent. Beginning with the commencement date of the term of this LeaseCommencement Date, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the followingfollowing additional amounts:
(1) Tenant’s proportionate share of all utilities relating to Operating Expenses in the Complex as amounts set forth in Paragraph 11Paragraphs 1.E and 9, and
(2) Tenant’s proportionate share of all Taxes relating to Utility Costs in the Complex as amounts set forth in Paragraph 12Paragraphs 1.F and 13, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which expenses that Tenant is required to pay hereunderunder this Lease, together with all interest and penalties, costs and expenses including without limitation attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentBasic Rent. Tenant The Additional Rent due hereunder shall pay be paid to Landlord monthlyor Landlord's agent, at the option of Landlord, directly to the designated recipient thereof, as and when such amounts are due, in advance, accordance with statements or invoices presented to Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of this Lease. In the term event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of Basic Rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent, at the option of Landlord, directly to the designated recipient thereof, as and when such amounts are due, in accordance with statements or invoices presented to Tenant. The obligations of Tenant under this Paragraph shall survive the expiration or other termination of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in In addition to the Basic Rent and as Additional Rent the following:
(1) Tenant’s base rental referred to hereinabove, Lessee will be responsible for additional rent covering Lessee's proportionate share of Lessor's expenses for taxes, insurance, and common area maintenance. Lessor will provide Lessee with a written statement of said additional rent calculation reflecting Lessee's proportionate share of same, as soon as reasonably possible after January 1st of each respective lease year or option year.
a. Lessee's pro rata responsibility will be calculated comparing the Leased Premises to the over all utilities leasable area of the shopping center. Said responsibility will be a fraction, expressed as a percentage, using the total leasable area of the shopping center as the denominator of the fraction and the total area of Lessee's Leased Premises hereunder as the numerator of the fraction. Sturbridge Village Lease. 1-24-97 Mont▇▇▇▇▇▇ ▇▇▇levision & Entertainment, Inc.
b. Additional rent will include all taxes and assessments relating to the Complex shopping center of which the Leased Premises are a part, including any ad valorem on subject property, and will also include Lessor's property and casualty and liability insurance expense as set forth in Paragraph 11it relates to all policies of insurance covering the shopping center and any portions thereof, andand covering all damages, injuries and liability relating thereto, and said additional rent will also include common area maintenance.
(2) Tenant’s proportionate c. Common Area Maintenance shall include but are not limited to Lessor's costs of operating, repairing, lighting, cleaning, maintaining landscaping and plantings, painting, and advertising and promoting the shopping center and all parts and portions thereof
d. Lessee's responsibility for its pro rata share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3) Tenant’s proportionate share each of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, these costs and expenses including attorneys’ fees hereinabove outlined will begin effective upon lease commencement and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding will cover the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord 1997 and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, each and every calendar year thereafter but if the leased term hereof shall expire or shall otherwise terminate ends on a day any other date other than the last day of a calendar December of any respective year, then the actual Additional Rent incurred Lessee's responsibility for these charges and expenses will be pro rated through the last date of Lessee's rental responsibility under this agreement in the final year of the lease. The Lessee shall pay its proportionate share in advance based on estimates made by the Lessor from time to time which estimate at the present time for the calendar year in which first Lease Year is $3,750.00 payable at the term hereof expires or otherwise terminates shall be determined and settled on the basis rate of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365$312.50 per month.
Appears in 1 contract
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
: (1) Tenant’s 's proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
and (2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
and (3) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
and (5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ attorney's fees and legal expenses, that may accrue thereto in the event of Tenant’s ▇▇▇▇▇▇'s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate ▇▇▇▇▇▇'s prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s ▇▇▇▇▇▇▇▇'s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s 's payment for such estimated Additional Rent for rent as of the Early Access Period as well as in commencement of the first twelve (12) months term of this Lease lease shall be Two Thousand One Hundred ($22,600.00 2,100.00) Dollars per month. Prior Any payments required to execution and delivery of this Lease be made by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the for Additional Rent shall be made by check or instrument separate from that check or instrument used by Tenant to make any payments for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. Basic Rent pursuant to paragraph 4 A. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Landlord's Consent to Assignment of Lease (Idealab)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s 's proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses expenses, including attorneys’ ; fees and legal expenses, that may accrue thereto in the event of Tenant’s Tenants failure to pay such amounts, and nd all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of os an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in n excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and wand if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires express or otherwise terminates shall hall be determined determine and settled settles on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Com21 Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
(3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Rent Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for of such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Transmeta Corp)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to the Basic Rent and as Additional Rent the following:
: (1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12, and
and (3b) Tenant’s 's proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
and (5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (I) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord so elects to do so at Landlord's sole and absolute discretion, as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or of termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Opti Inc)
Additional Rent. Beginning with the commencement date Commencement Date of the term Term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities relating to the Complex as set forth in Paragraph 11, and
(2) Tenant’s 's proportionate share of all Taxes relating to the Complex and Premises as set forth in Paragraph 1213, and
(3b) Tenant’s 's proportionate share of all insurance premiums and deductibles relating to the ComplexComplex and Premises, as set forth in Paragraph 1517, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4c) Tenant’s 's proportionate share of expenses for the operation, management, maintenance maintenance, and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5d) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rentRent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty (30) days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within one hundred twenty (120) days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demandwithin thirty days after delivery by Landlord to Tenant of a written reconciliation identifying the amount to be paid, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent itemsItems. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records specifically limited to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior to execution If such audit reveals that Landlord has overcharged Tenant and delivery of this Lease the audit is not challenged by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar yearLandlord, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates amount overcharged shall be determined and settled on credited to Tenant's account within thirty (30) days after the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365audit is concluded.
Appears in 1 contract
Sources: Lease Agreement (Opti Inc)
Additional Rent. Beginning with (a) During each Fiscal Year (or part thereof) beginning on the commencement date of Commencement Date and continuing throughout the term of this LeaseTerm, Tenant shall pay to Landlord in addition to the Basic Rent and Landlord, as Additional Rent Rent, quarterly in advance on the followingfirst day of each calendar quarter during the applicable portion of the Term, and in accordance with this Lease and the terms and conditions of the annual Support Agreement:
(1i) Tenant’s proportionate share The costs of all utilities relating to the Complex as set forth Demand Services, if any, requested by ▇▇▇▇▇▇ from Landlord in Paragraph 11, andsuch year;
(2ii) Tenant’s proportionate share of all Taxes relating The ARFF Costs for the ARFF Services, if any, to the Complex as set forth be provided to Tenant by Landlord in Paragraph 12such year; provided, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid that Landlord shall be amortized ( including interest at responsible to pay for (b) of the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional RentARFF Costs; and
(4iii) The costs of Utilities, if any, to be provided to Tenant by Landlord in such year, including, without limitation, Tenant’s proportionate 's pro rata share of expenses the costs to operate and maintain any components of any Utility systems that serve the Premises as determined in accordance with the Utility Plan (including repairs and replacements, as well as any upgrades, capital improvements and/or separation of such Utility systems that have been made at Tenant's request). Tenant will not be obligated to pay for the operation, management, maintenance and repair or reimburse Landlord for any of the Building (including common areas costs of providing ISP Services to the Premises. Landlord and Tenant acknowledge and agree that during the RFP process described in the Recitals, the ISP Services Rate was factored into and constitutes a part of the Building) Base Rent to be paid by Tenant pursuant to the Basic Lease Information and Common Areas section 5.1, and the Base Rent will not be adjusted as a result of any increase or decrease in the actual costs of the Complex in which ISP Services. Notwithstanding the Premises are located as set forth in Paragraph 7foregoing, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure any Additional Projects are developed on property within the Premises that is under exclusive federal legislative jurisdiction, then Tenant will be obligated to pay Landlord for the costs of providing ISP Services at then- current ISP Services Rate so long as such amountsproperty remains under exclusive legislative jurisdiction.
(b) Beginning on the Commencement Date and continuing throughout the Term, and all damagesTenant shall pay, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of as Additional Rent, Landlord shall have all the rights other amounts of money and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord charges required to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended paid by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire whether or shall otherwise terminate on a day other than the last day not such amounts of a calendar year, the actual money or charges are designated "Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365Rent."
Appears in 1 contract
Sources: Adaptive Reuse Lease
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord or to Landlord's designated agent in addition to the Basic Rent and as Additional Rent the following:
(1a) Tenant’s proportionate share of all utilities All Taxes relating to the Complex Premises as set forth in Paragraph 119, and
and (2b) Tenant’s proportionate share of all Taxes All insurance premiums relating to the Complex Premises, as set forth in Paragraph 12, and
and (3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15, including reasonable deductibles and the pre-payment of premiums for coverage of up to one year. The amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term of this Lease shall be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5c) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including reasonable attorneys’ ' fees and legal expenses, that may accrue thereto in the event of Tenant’s 's failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s 's part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. The Additional Rent due hereunder shall be paid to Landlord or Landlord's agent (i) within five days for taxes and insurance and within thirty days for all other Additional Rent items after presentation of invoice from Landlord or Landlord's agent setting forth such Additional Rent and/or (ii) at the option of Landlord, Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate 's prorata share of an amount estimated by Landlord to be Landlord’s 's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at within 120 days of the end of each calendar year or more frequently if Landlord elects to do so at Landlord's sole and absolute discretion as compared to Landlord’s 's actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding crediting to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s 's actual expenditures for said Additional Rent itemsItems. Within thirty (30) days after receipt of Landlord's reconciliation, Tenant shall have the right, at Tenant’s payment for such estimated Additional Rent for 's sole expense, to audit, at a mutually convenient time at Landlord's office, Landlord's records relating to the Early Access Period as well as in the first twelve (12) months of this Lease foregoing expenses. Such audit must be conducted by Tenant or an independent nationally recognized accounting firm that is not being compensated by Tenant or other third party on a contingency fee basis. Landlord shall be $22,600.00 per monthprovided a complete copy of said audit at no expense to Landlord. Prior If such audit reveals that Landlord has overcharged Tenant and the audit is not challenged by Landlord, the amount overcharged shall be credited to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth Tenant's account within thirty (30) days after the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occursaudit is concluded. The respective obligations of Landlord and Tenant under this Paragraph 4 paragraph shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365.
Appears in 1 contract
Sources: Lease Agreement (Cacheflow Inc)
Additional Rent. Beginning with the commencement date of the term of this Lease, Tenant shall pay to Landlord in addition to and maintain records of payment of public liability and property damage insurance, and the Basic Rent costs of common area maintenance on the Premises and shall on an annual basis present statements of account on the same expenses and collect from Subtenant, as Additional Rent the following:
(1) Tenant’s proportionate Rent, as then existing. Subtenant's share of common area maintenance expenses shall be proportional based on the number of pilots and personnel associated with the aircraft fleet of Subtenant. The proportion may change based on changes in the type, size and requirements of the aircraft fleet and the number of personnel associated with the aircraft fleet. TENANT SHALL CONTRIBUTE $950.00 PER MONTH AS ADDITIONAL RENT. Additional Rent shall be made with each monthly Rent payment. Adjustment in the monthly Additional Rent payment shall be made by March 1, based on the actual expenditures of the preceding twelve month period. If the amount collected does not equal the actual expenditures, adjustment shall be made annually as required within thirty (30) days of Tenant's rendering of account. For purposes of this paragraph, "Common Area Maintenance Expense" shall include all utilities relating to the Complex as set forth costs and expenditures incurred by Tenant in Paragraph 11maintaining and operating refuse collection facilities and removal; parking lot and tarmac sweeping and snow removal; parking lot and tarmac repairs and maintenance including patching, and
(2) Tenant’s proportionate share of all Taxes relating to the Complex as set forth in Paragraph 12resurfacing and repainting; common area lighting maintenance, and
(3) Tenant’s proportionate share of all insurance premiums relating to the Complex, as set forth in Paragraph 15security; sidewalk cleaning; landscaping maintenance and repair, including replacing and renovation of plant material; irritation associated expenses; personnel expenses associated with the above functions. Tenant may enter into reasonable deductibles and contracts for the pre-payment execution of premiums for coverage of up to one yearthese common area maintenance functions. The Premises are owned by the City of Spartanburg. As they are publicly owned, they should be exempt from ad valorem taxation. However, should the Premises become subject to ad valorem taxation, the amount of earthquake insurance deductibles actually paid shall be amortized ( including interest at the rate of 8% per year on the unamortized cost) over a period of ten (10) years and only the amortized portion during the Term such taxes shall, for purposes of this Lease shall Section, be included as Additional Rent; and
(4) Tenant’s proportionate share of expenses for the operation, management, maintenance and repair of the Building (including a common areas of the Building) and Common Areas of the Complex in which the Premises are located as set forth in Paragraph 7, and
(5) All charges, costs and expenses, which Tenant is required to pay hereunder, together with all interest and penalties, costs and expenses including attorneys’ fees and legal expenses, that may accrue thereto in the event of Tenant’s failure to pay such amounts, and all damages, reasonable costs and expenses which Landlord may incur by reason of default of Tenant or failure on Tenant’s part to comply with the terms of this Lease. In the event of nonpayment by Tenant of Additional Rent, Landlord shall have all the rights and remedies with respect thereto as Landlord has for nonpayment of rent. Tenant shall pay to Landlord monthly, in advance, Tenant’s proportionate share of an amount estimated by Landlord to be Landlord’s approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord’s actual expenditure for said Additional Rent items, with Tenant paying to Landlord, upon demand, any amount of actual expenses expended by Landlord in excess of said estimated amount, or Landlord refunding to Tenant (providing Tenant is not in default in the performance of any of the terms, covenants and conditions of this Lease) any amount of estimated payments made by Tenant in excess of Landlord’s actual expenditures for said Additional Rent items. Tenant’s payment for such estimated Additional Rent for the Early Access Period as well as in the first twelve (12) months of this Lease shall be $22,600.00 per month. Prior to execution and delivery of this Lease by both parties, Landlord shall provide to Tenant complete and accurate figures setting forth the Additional Rent for each of the two (2) full calendar years preceding the calendar year in which the Lease Commencement Date occurs. The respective obligations of Landlord and Tenant under this Paragraph 4 shall survive the expiration or other termination of the term of this Lease, and if the term hereof shall expire or shall otherwise terminate on a day other than the last day of a calendar year, the actual Additional Rent incurred for the calendar year in which the term hereof expires or otherwise terminates shall be determined and settled on the basis of the statement of actual Additional Rent for such calendar year area expense and shall be prorated in the proportion which the number of days in such calendar year preceding such expiration or termination bears to 365collected proportionately from Subtenant as Additional Rent.
Appears in 1 contract
Sources: Sublease (Extended Stay America Inc)