Annual Rent LESSEE covenants and agrees to pay as rent to LESSOR the sum of ($ ) for the first year of this lease which shall be due at the time of approval by the Board of Education. Subsequent payment of annual rent shall be due on or before the anniversary date of this Lease Agreement. The obligation of LESSEE to pay rent under this Lease Agreement is unconditional, and the rent shall not be subject to set off for any reason or cause. LESSOR and LESSEE agree that in the event of termination or cancellation, any rental payment made during the term of this Lease Agreement is not refundable, and LESSEE waives any right or claim it may have to refund of rent paid. Rents shall be adjusted annually pursuant to the rent adjustment clause contained in Paragraph 3 of this Lease Agreement. In the event LESSEE is delinquent in the payment of rent, LESSEE shall pay a late charge equal to fifteen percent (15%) of the amount of rent past due for more than 30 days and thereafter shall pay interest on any rent past due at an annual rate (the "Default Rate") equal to the maximum rate then allowed by law or, if there is no maximum rate, then a rate equal to five percent per annum above the discount rate, excluding any surcharge thereon, on ninety-day commercial paper in effect at the Federal Reserve Bank in the Federal Reserve district in which LESSOR is located, calculated according to the actuarial method.
Fixed Rent No Fixed Rent or Additional Rent shall be due or payable hereunder for the period commencing on the Term Commencement Date through and including, the day prior to the Rent Commencement Date. For the period beginning on the Rent Commencement Date through and including the last day of the twelfth (12th) full calendar month immediately following the Rent Commencement Date (this period shall include the partial calendar month between the Rent Commencement Date and the first day of the first full calendar month immediately following the Rent Commencement Date if the Rent Commencement Date is other than the first day of a calendar month), the Fixed Rent shall be based upon a rate of $12.25 per square foot contained in the Building per annum (the “Fixed Rental Rate”) and shall equal $673,750.00 per annum payable in equal monthly installments of $56,145.83 (equitably pro-rated for any partial calendar month within this period), assuming the Building contains 55,000 square feet. The Fixed Rental Rate is subject to adjustment if Sublessee elects to include Sublessee’s Contribution Costs in the Fixed Rental Rate as provided in Exhibit D. The Fixed Rent for this period is subject to being confirmed and further adjusted in accordance with Section 1.4 hereof if the square footage of the Premises is determined to be other than 55,000 square feet as determined by the Measurement. Thereafter, beginning on the first day of the thirteenth (13th) full calendar month immediately following the Rent Commencement Date (the “First Adjustment Date”) and thereafter on each subsequent anniversary of the First Adjustment Date (each such anniversary of the First Adjustment Date being an “Adjustment Date”) falling within the Base Term, the Fixed Rental Rate and, correspondingly, the Fixed Rent, payable under this Lease by Sublessee shall be adjusted by an amount (each, an “Adjustment”) equal to the Fixed Rental Rate payable for and with respect to the immediately preceding twelve (12) calendar month period multiplied by the percentage change in the Consumer Price Index (as hereafter defined) during the immediately preceding 12 calendar month period multiplied by the square feet in the Premises (in the case of the Adjustment to be made on the First Adjustment Date the comparison of the Consumer Price Index shall be between the monthly Consumer Price Index last published immediately prior to the Rent Commencement Date and the monthly Consumer Price Index last published immediately prior to the First Adjustment Date) and this process shall be repeated on each subsequent Adjustment Date using the Fixed Rental Rate payable for the immediately preceding 12 calendar month period and the monthly Consumer Price Index last published immediately prior to commencement of such 12 calendar month period immediately preceding the applicable Adjustment Date and the monthly Consumer Price Index last published immediately prior to such Adjustment Date for which an Adjustment to the Fixed Rent Rate is being made such that beginning with the First Adjustment Date and thereafter on each Adjustment Date falling thereafter during the Base Term, the Fixed Rental Rate shall be subject to adjustment based on the applicable percentage change in the Consumer Price Index over the immediately preceding 12 calendar month period multiplied by the Fixed Rental Rate payable during such 12 calendar month period. As used herein, the term “Consumer Price Index” shall mean the Consumer Price Index (1982-84=100) all items for Urban Wage Earners and Clerical Workers published by the Bureau of Labor and Statistics of the United States Department of Labor for Boston, MA (or if there ceases to be any such publication, Sublessor may employ any other substantially equivalent index reasonably selected by Sublessor and generally recognized governmental index to measure changes in the cost of living for the region currently covered in the Boston, MA index). In the event that on any Adjustment Date on which the Fixed Rental Rate and Fixed Rent are subject to Adjustment as provided above, the Fixed Rental Rate and Fixed Rent for such period shall not yet have been determined in accordance with the foregoing calculations, then beginning on the applicable Adjustment Date and until such adjusted Fixed Rental Rate and Fixed Rent are determined, the monthly payment of Fixed Rent for such period for which an Adjustment is being made but not yet determined, shall be in the monthly amount applicable to the calendar month immediately preceding the applicable Adjustment Date for which such Adjustment is to be made with any shortfall or overpayment to be made or credited on the date which is the next date for the payment of Fixed Rent after the determination of the actual amount of the Fixed Rent as adjusted by the applicable Adjustment for such period is made. All such Fixed Rent set forth above as adjusted hereby from time to time shall be payable beginning on the Rent Commencement Date and thereafter on the first business day of each calendar month during the Base Term at the address from time to time designated by Sublessor for the payment of Fixed Rent and Additional Rent under this Lease. In no event shall the Fixed Rental Rate as adjusted with respect to any 12 calendar month period during the Base Term be less than the Fixed Rental Rate payable for the period from the Rent Commencement Date through, but not including, the First Adjustment Date whether or not there shall be a decrease in the Consumer Price Index. Further notwithstanding the foregoing, in no event shall the amount of any annual Adjustment to the Fixed Rental Rate exceed the lesser of (i) the Adjustment based on the applicable percentage change in the Consumer Price Index as set forth above or (ii) 3% of the Fixed Rental Rate for the first lease year (i.e. $0.3675 assuming a Fixed Rental Rate of $12.25 per square foot). [End of Reference Data] LEASE BETWEEN 200 INTERNATIONAL LIMITED PARTNERSHIP, a Delaware limited partnership, AS SUBLESSOR, AND TISSUELINK MEDICAL, INC., a Delaware corporation, AS SUBLESSEE, DATED AS OF February 27, 2008 TABLE OF CONTENTS
Additional Rent In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.
Basic Rental Tenant agrees to pay to Landlord during the ------------- Term hereof, at Landlord's office or to such other person or at such other place as directed from time to time by written notice to Tenant from Landlord, the initial monthly and annual sums as set forth in Article 1.C of the Basic Lease Provisions, payable in advance on the first day of each calendar month, without demand, setoff or deduction, and in the event this Lease commences or the date of expiration of this Lease occurs other than on the first day or last day of a calendar month, the rent for such month shall be prorated. Notwithstanding the foregoing, the first full month's Basic Rental shall be paid to Landlord in accordance with Article 1.J. of the Basic Lease Provisions.
Basic Rent The periodic rent payable for the Aircraft throughout the Basic Term pursuant to Section 3.02 of the Lease, adjusted pursuant to Article 3 of the Lease. Basic Term. The period commencing at the beginning of the day on the Delivery Date and ending at the end of the day on July 15, 2023, or such earlier date on which the Lease shall be terminated as provided therein.
Base Rent Lessee shall pay Base Rent and other rent or charges, as the same may be adjusted from time to time, to Lessor in lawful money of the United States, without offset or deduction, on or before the day on which it is due under the terms of this Lease. Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall be prorated based upon the actual number of days of the month involved. Payment of Base Rent and other charges shall be made to Lessor at its address stated herein or to such other persons or at such other addresses as Lessor may from time to time designate in writing to Lessee.
Base Rental (a) Lessee hereby agrees to pay to Lessor, without setoff or deduction whatsoever, a monthly installment of $3,284.00. Lessee shall also pay, as additional rent, all such other sums of money as shall become due from and payable by Lessee to Lessor under this Lease (Base Rental, any adjustment thereto pursuant to Section 4 hereof, and all such other sums of money due from and payable by Lessee pursuant to this Lease are sometimes hereinafter collectively called "rent"), for the nonpayment of which Lessor shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rental. The Base Rental, together with any adjustment or increase thereto then in effect, shall be due and payable in advance in twelve (12) equal installments on the first (lst) day of each calendar month during the term of this Lease, and Lessee hereby agrees so to pay such Base Rental and any adjustment or increase thereto to Lessor at Lessor's address provided herein (or such other address as may be designated by Lessor in writing from time to time) monthly, in advance, and without demand. If the term of this Lease commences on a day other than the first (lst) day of a month or terminates on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such month or months shall be prorated, and the installment or installments so prorated shall be paid in advance.
Monthly Rent The rent amount for the initial period shall be: _ Dollars ($_ ) paid on the _ (#) day of every month and: (check one) ☐ - Shall remain the same during the Initial Term. ☐ - Shall increase during the Initial Term as follows: 1st Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ )
Rent The Tenant shall pay the Landlord, in equal monthly installments, $ ("Rent"). The Rent shall be due on the of every month (“Due Date”) and paid under the following instructions: .
