Common use of Base Rent Clause in Contracts

Base Rent. Purchaser will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 4 contracts

Samples: Agreement of Purchase and Sale (Matrix Bancorp Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (Cornerstone Realty Fund LLC), Agreement of Purchase and Sale (Simpson Manufacturing Co Inc /Ca/)

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Base Rent. Purchaser will receive 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all base America, or fixed rent payable pursuant (ii) if so elected by Tenant, by electronic funds transfer to the Leases and all Additional Rents account of Landlord as provided to Tenant, base rent (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. Delinquent All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be prorated at Closing. All Rent collected discharged or otherwise affected by Purchaser any law or Seller from each tenant from and after Closing will be applied as follows: (i) firstregulation now or hereafter applicable to the Premises, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of restriction on Tenant’s use, or (except as expressly provided herein) any conveyance documentationcasualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

Appears in 4 contracts

Samples: Lease (Precision Biosciences Inc), Lease (Precision Biosciences Inc), Keystone Technology Park Lease (Heat Biologics, Inc.)

Base Rent. Purchaser will receive Commencing on the Rent Commencement Date, Tenant shall pay, without notice or demand, to Landlord at the address set forth in Section 3 of the Summary, or at such other place as Landlord may from time to time designate in writing, in currency or a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 8 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 8 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing DateRent Commencement Date and, thereafter, the first day of each and every month during the Lease Term, without any setoff or deduction whatsoever. Delinquent Rent Concurrently with Tenant’s execution of this Lease, Tenant shall not deliver to Landlord an amount equal to $475,149.74, which amount shall be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as followscomprised of the following: (i) first, to Delinquent the Base Rent owed payable by Tenant for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller Premises for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership first (1st) full month of the Property; and provided furtherLease Term following the Rent Commencement Date (i.e., however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings$383,551.88); and (ii) shall not be permitted the Estimated Expenses (as defined below) payable by Tenant for the Premises for the first (1st) full month of the Lease Term (i.e., $91,597.86). If any rental payment date (including the Lease Commencement Date with respect to commence the Base Rent or pursue any legal proceedings against any tenant seeking eviction the Rent Commencement Date with respect to Estimated Expenses) falls on a day of the month other than the first day of such tenant month or if any rental payment is for a period which is shorter than one month, then the termination rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the underlying Leaseproportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, All other comparable expenses and pass-through charges and any other tenant charges. The provisions payments or adjustments required to be made under the terms of this Section 14.5 Lease that require proration on a time basis shall survive be prorated on the Closing and same basis. For the delivery avoidance of any conveyance documentationdoubt, Tenant’s obligation for the payment of Base Rent shall commence on the Rent Commencement Date.

Appears in 4 contracts

Samples: Lease (Dyne Therapeutics, Inc.), Lease (Dyne Therapeutics, Inc.), Lease (Dyne Therapeutics, Inc.)

Base Rent. Purchaser will receive a credit As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at Closing for the prorated amount Building, or such other address as Landlord may notify Tenant of all base or fixed rent in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the Leases terms of Paragraph 7 hereof. Rent is due and all Additional Rents (collectively, “Rent”) previously shall be paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made in advance on or before the Closing Datefirst (1st) day of each month during the term hereof. Delinquent Rent is considered late and Tenant shall not be prorated at Closingin default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. All Rent collected by Purchaser or Seller from each tenant from and after Closing A penalty of fifty dollars ($50.00) per day will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to assessed on any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and sums due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any Rent other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due Seller for period attributable to Seller’s ownership as an essential part of the Property; cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and provided further, however, Seller (i) at the end of the Term shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any adjusted pro rata on a per diem basis, and all amounts due from tenants succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for operating expensesinsufficient funds shall constitute an event of default, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesTenant must cover said check with certified funds plus the penalty contained herein. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationLandlord may also seek additional relief as provided by law.

Appears in 3 contracts

Samples: Lease Agreement Facing Page (Integral Systems Inc /Md/), Lease Agreement (Integral Systems Inc /Md/), Lease Agreement Facing Page (Integral Systems Inc /Md/)

Base Rent. Tenant shall pay Landlord rent (herein called "Base Rent") in arrears, in currency that at the time of payment is legal tender for public and private debts in the United States of America, in installments on each Base Rent Date through the end of the Term. Each payment of Base Rent must be received by Landlord no later than 12:00 noon (San Francisco time) on the date it becomes due; if received after 12:00 noon it will be considered for purposes of this Lease as received on the next following Business Day. Each installment of Base Rent shall represent rent allocable to the Base Rent Period (or portion thereof) ending on the date on which the installment is due. Landlord shall notify Tenant in writing of the Base Rent due for each Base Rent Period at least fifteen (15) days prior to the Base Rent Date on which such period ends. Any failure by Landlord to so notify Tenant shall not constitute a waiver of Landlord's right to payment, but absent such notice Tenant shall not be in default for any underpayment resulting therefrom if Tenant, in good faith, reasonably estimates the payment required, makes a timely payment of the amount so estimated and corrects any underpayment within three (3) Business Days after being notified by Landlord of the underpayment. For all Base Rent Periods subject to a LIBOR Period Election of one month, two months or three months, Base Rent shall be due in one installment on the Base Rent Date upon which the Base Rent Period ends. For Base Rent Periods subject to a LIBOR Period Election of six months, Base Rent shall be payable in two installments, with the first installment becoming due on the Base Rent Date that occurs on the first Business Day of the third calendar month following the commencement of such Base Rent Period, and with the second installment becoming due on the Base Rent Date upon which the Base Rent Period ends. Notwithstanding the foregoing, if Tenant or any Applicable Purchaser will receive a credit at Closing for purchases Landlord's interest in the prorated amount of all base or fixed rent payable Property pursuant to the Leases Purchase Agreement, any accrued unpaid Base Rent and all outstanding Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following Rent shall be due on the Closing Date. Rents are “Delinquent” when they were due prior date of purchase in addition to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent purchase price and other sums due Seller for period attributable to Seller’s ownership of Landlord under the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesPurchase Agreement. The provisions of this Section 14.5 Base Rent for each Base Rent Period shall survive equal the Closing and the delivery of any conveyance documentation.sum of:

Appears in 3 contracts

Samples: Lease Agreement (3com Corp), Lease Agreement (3com Corp), Lease Agreement (3com Corp)

Base Rent. Purchaser will receive a credit at Closing for (a) Tenant shall pay Base Rent in the prorated amount of all base or fixed rent manner set forth below. Base Rent shall be payable pursuant to monthly, in arrears, without notice on the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Rent Commencement Date, and payment thereof has not been made continuing thereafter on or before the Closing Date. Delinquent first LIBOR Business Day of each successive month, except that the last installment of Base Rent shall not be prorated at Closingpayable on the last day of the Term (each such date shall be a "Rent Payment Date") and shall be an amount sufficient to pay all Base Rent accrued through the end of the Term. All Tenant shall pay Base Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: The Senior Rent Component shall be paid to UBS, and the Equity Rent Component shall be paid to Landlord, at the Address for Rent set forth in the Basic Lease Provisions (ior, if the UBS Loan has been replaced by a New Loan or Replacement Loan, then the Senior Rent Component shall be paid directly to the holder of such New Loan or Replacement Loan) firstor at such other place as Landlord and Tenant may from time to time mutually agree upon, in their respective sole and absolute discretion. Tenant shall pay Base Rent by wire transfer or by check. Landlord or UBS or such other holder of a New Loan, as the case may be, shall supply Tenant with such bank account information as Tenant shall require to Delinquent enable payment by wire transfer. The parties agree that Tenant is paying the Senior Rent owed Component of Base Rent directly to UBS for the month convenience of the parties in which order to satisfy Landlord's obligations to pay interest under the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller UBS Loan for the period prior of time corresponding to Closing. Any the Term of this Lease; all Base Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser payments shall be promptly remitted deemed payments to Purchaser. Purchaser shall use reasonable efforts Landlord to collect Delinquent Rents owed the extent of the Equity Rent Component and payments of the interest due to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant UBS under the Leases for any Rent and other sums due Seller for period attributable UBS Loan to Seller’s ownership the extent of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationSenior Rent Component.

Appears in 3 contracts

Samples: Ground Lease (Cisco Systems Inc), Lease (Cisco Systems Inc), Ground Lease (Cisco Systems Inc)

Base Rent. Purchaser will receive a credit at Closing for Base Rent in the prorated amount of all base $42,750 and the Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or fixed rent payable pursuant to the Leases and all Additional Rents (collectivelyset-off, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made monthly installments of Base Rent on or before the Closing Datefirst day of each calendar month during the Term hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Delinquent Payments of Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the any fractional calendar month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted prorated. The obligation of Tenant to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any Rent (as defined in Section 5) due Seller hereunder except for period attributable any abatement as may be expressly provided in this Lease. Notwithstanding anything to Seller’s ownership of the Property; and provided furthercontrary contained in this Lease, however, Seller (i) Tenant shall be required to notify Purchaser pay Base Rent in writing the per square foot amounts set forth in page 1 (i) with respect to only 15,000 rentable square feet of Seller’s intention to commence or pursue any legal proceedings; the Premises commencing on the Commencement Date and continuing through the expiration of the 18th month of the Base Term, and (ii) shall not be permitted with respect to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination only 19,000 rentable square feet of the underlying Premises commencing on the first day of the 19th month of the Base Term and continuing through the expiration of the 24th month of the Base Term. Tenant shall commence paying Base Rent with respect to the entire Premises on the first day of the 25th month of the Base Term. Notwithstanding anything to the contrary contained herein, so long as no monetary default by Tenant beyond applicable notice and cure periods is occurring as of the expiration of the term of that certain Lease Agreement between Tenant and XXX-00000 Xxxxx Xxxxxx Xxxxx, LLC, a Delaware limited liability, dated July 31, 2009 (as the same may have been or may in the future be amended, the “Other Lease”), Landlord shall provide Tenant with a credit in the amount of $221,336 (“Rent Credit”) toward Base Rent and Operating Expenses for the Premises first coming due during the Base Term. “Additional Rents” Tenant shall mean any commence paying Base Rent and all amounts due from tenants Operating Expenses for operating expensesthe Premises upon the earlier of (i) the exhaustion of the Rent Credit, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the or (ii) immediately following delivery of any conveyance documentationwritten notice from Landlord providing that a monetary default by Tenant beyond applicable notice and cure periods is occurring as of the expiration of the term of the Other Lease.

Appears in 2 contracts

Samples: Lease Agreement (Fate Therapeutics Inc), Lease Agreement (Fate Therapeutics Inc)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount The first month’s Base Rent and Operating Expenses shall be due and payable upon execution of all base or fixed rent payable pursuant this Lease, which amounts shall be applied to the Leases first month when such amounts become due and all Additional Rents (collectivelypayable. Tenant shall pay to Landlord in advance, “Rent”) previously paid towithout demand, subsequent monthly installments of Base Rent on, or collected bybefore, Seller and attributable to any period the first day of each calendar month following the Closing DateCommencement Date (prorated for any fractional calendar month). Rents All payments by Tenant to Landlord (or to such other party or at such location as Landlord may from time to time specify in writing) shall be made by Electronic Fund Transfer or Automated Clearing House. The obligation of Tenant to pay Base Rent, Operating Expenses and other sums to Landlord and the obligations of Landlord under this Lease are “Delinquent” when they were independent obligations. Tenant shall not xxxxx, reduce, or set-off any amounts due prior and payable hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any installment of Base Rent, Operating Expenses, or other amounts due and payable for more than 5 days, in addition to all of Landlord’s other rights and remedies (and not as a penalty), Tenant shall pay to Landlord on demand a late charge equal to eight percent (8%) of such delinquent sum. If Tenant is delinquent in any monthly installment of Base Rent, Operating Expenses, or other amount due and payable herein beyond 5 days after the Closing Datedue date thereof, and payment thereof has not been made after written notice as provided below, Tenant shall pay to Landlord on or before the Closing Datedemand a late charge equal to eight percent (8%) of such delinquent sum. Delinquent Rent Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence or pursue required more than twice in any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass12-through charges and any other tenant chargesmonth period. The provisions provision for such late charge shall be in addition to all of this Section 14.5 Landlord’s other rights and remedies hereunder or at law and shall survive the Closing and the delivery of not be construed as a penalty or as limiting Landlord’s remedies in any conveyance documentationmanner.

Appears in 2 contracts

Samples: Lease Agreement (RayzeBio, Inc.), Lease Agreement (RayzeBio, Inc.)

Base Rent. Purchaser will receive Throughout the Lease Term, Tenant shall pay Base Rent in the amount set forth above. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off (except as expressly set forth herein), monthly installments of Base Rent and Additional Rent on or before the first day of each calendar month commencing on the Commencement Date. If the Lease Term commences or expires on a credit date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall be an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided, further that the Rent for any partial calendar month at Closing the commencement of the initial Lease Term shall be payable on the first day of the first full calendar month during the Lease Term. All sums, liabilities, obligations and other amounts which Tenant is required to pay or discharge pursuant to this Lease in addition to Base Rent, including without limitation Tenant’s Proportionate Share of the Site Operating Costs (as hereinafter defined), together with any interest, penalty, or other sum which may be added for late payment thereof, shall constitute additional rent hereunder (herein called “Additional Rent”). In the prorated amount event of any failure on the part of Tenant to pay or discharge any of the foregoing, after the expiration of all base applicable notice and cure periods (if any), Landlord shall have all rights, powers and remedies provided for herein (or fixed rent by law or equity or otherwise) in the case of nonpayment of Base Rent. All payments required to be made by Tenant to Landlord hereunder shall be payable pursuant at such address as Landlord may specify from time to the Leases time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and all Additional Rents Rent (collectively, sometimes hereinafter collectively referred to as “Rent”) previously paid toand the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to axxxx, reduce, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for set-off any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and hereunder, except as specifically provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationherein.

Appears in 2 contracts

Samples: Lease (Ulta Salon, Cosmetics & Fragrance, Inc.), Lease (Ulta Salon, Cosmetics & Fragrance, Inc.)

Base Rent. Purchaser will receive a credit Tenant agrees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount shall be payable to Landlord at Closing for the prorated amount of all base or fixed rent address shown above. One monthly installment shall be due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date. Delinquent Rent , substantially complete and ready for Tenant's occupancy, this Lease shall not be prorated at Closing. All Rent collected void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by Purchaser or Seller from each tenant from and after Closing will be applied as followsthe later of: (i) firstSeptember 1, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”)1995, or (ii) secondthe date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to any accrued Rents owing to Purchaser, approve plans and (iii) third, to Delinquent Rents owing to Seller specifications for the period prior to Closing. Any Rent collected Premises by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser April 12, 1995, in which case such date shall be promptly remitted extended by the number of days equal to Purchaser. Purchaser the delays caused by Tenant), Landlord shall use reasonable efforts pay to collect Delinquent Rents owed Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to Seller in $500.00 for each day thereafter until the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases Premises are substantially complete and ready for any Rent and other sums due Seller for period attributable to Seller’s ownership of the PropertyTenant's occupancy; and provided furtherthat if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, however1995 (except by reason of force majeure or Tenant caused delays, Seller (i) in which case such date shall be required extended by the number of days equal to notify Purchaser the delays caused by Tenant), Tenant shall have the option, in writing of Seller’s intention its absolute and unfettered discretion, to commence or pursue terminate this Lease by written notice to Landlord given at any legal proceedings; and (ii) shall not be permitted time prior to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination substantial completion of the underlying LeasePremises and Tenant taking occupancy of the Premises. “Additional Rents” In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall mean any so notify Tenant, and all amounts due from tenants for operating expenseseither Landlord or Tenant may thereafter terminate this Lease by written notice to the other, common area maintenance chargesgiven on or before May 25, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation1995.

Appears in 2 contracts

Samples: Fair Isaac & Company Inc, Fair Isaac & Company Inc

Base Rent. Purchaser will receive 3.1 Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all base America or, if directed by Landlord by electronic funds transfer or fixed rent payable similar wire transaction pursuant to the Leases and all Additional Rents instructions provided by Landlord, base rent (collectively, Base Rent”) previously paid to, or collected by, Seller and attributable to any period following as set forth in Section 4A of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary payable in equal monthly installments in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. Delinquent All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be prorated at Closing. All Rent collected discharged or otherwise affected by Purchaser any law or Seller from each tenant from regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and after Closing will be applied as follows: (i) firstTenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to Delinquent Rent owed for assert any defense in the month in which the Closing Date occurs (the “Closing Month”), (ii) second, nature of constructive eviction to any accrued Rents owing action seeking to Purchaserrecover rent. Tenant’s covenants contained herein are independent and not dependent, and (iii) third, to Delinquent Rents owing to Seller for Tenant hereby waives the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery benefit of any conveyance documentationstatute or judicial law to the contrary.

Appears in 2 contracts

Samples: Sublease (Jounce Therapeutics, Inc.), Sublease (Jounce Therapeutics, Inc.)

Base Rent. Purchaser will receive a credit at Closing Lessee shall pay to Lessor Base Rent on each Rent Payment Date during the Base Term in the amount set forth in the “Base Rent” column on Schedule 3.1 attached hereto and incorporated herein, and shall pay to Lessor Base Rent on each Rent Payment Date during any Renewal Term as prescribed by Article 5. Notwithstanding the payment schedule for Base Rent for the prorated Base Term as set forth on Schedule 3.1, the amounts of rent (other than Supplemental Rent) on account of the use of the Property which are allocated to each semi-annual period ending on August 14 or February 14 (for purposes of this Section 3.1 and Section 3.6, a “semi annual period”) during the Base Term shall equal the amounts set forth in the column of Schedule 3.1 titled “Allocated Rent” for such period. To the extent the Base Rent payable in any semi-annual period exceeds the Allocated Rent for such period, the amount of such excess shall be treated as a reduction in the cumulative Deferred Rent (as defined below) for all base or fixed rent payable pursuant prior semi-annual periods, and to the Leases and extent such excess exceeds the cumulative Deferred Rent for all Additional Rents prior semi-annual periods (collectively, the Prepaid Rent”), the amount of such Prepaid Rent shall thereafter be treated as a reduction in the amount by which the Allocated Rent for future semi-annual periods exceeds the Base Rent payable in such semi-annual periods. To the extent that the Allocated Rent for any semi-annual period exceeds the Base Rent payable in such semi-annual period, the amount of such excess shall be treated as a reduction in cumulative Prepaid Rent (as defined above) previously paid for all prior semi-annual periods, and to the extent such excess exceeds the cumulative Prepaid Rent for all prior semi-annual periods (the “Deferred Rent”), the amount of such Deferred Rent shall thereafter be treated as a reduction in the amount by which the Base Rent payable in future semi-annual periods exceeds the Allocated Rent for such semi-annul periods. Neither the Prepaid Rent nor the Deferred Rent will bear interest. Lessor shall have no obligation to apply the Prepaid Rent to offset any obligation of Lessee other than Lessee’s liability for Allocated Rent. Lessee shall have no obligation to make any payment to Lessor on account of Allocated Rent other than the scheduled payments of Base Rent. The allocation of Allocated Rent is intended to constitute a specific allocation of rent under Treasury Regulation Section 1.467-1(c)(2)(ii)(A), and the existence, timing, and amount of, and any adjustments to, Allocated Rent, Prepaid Rent and Deferred Rent are intended to be utilized solely for such purpose. Notwithstanding anything herein to the contrary, neither the existence or collected byamount of, Seller and attributable or timing of adjustments to, Allocated Rent, Prepaid Rent or Deferred Rent shall in any way affect the timing, amount or unconditional nature of Lessee’s obligations to pay Base Rent or any period following other amounts payable under this Lease Agreement. In the Closing Date. Rents are “Delinquent” when they were due event of any other termination of the Lease prior to the Closing Datescheduled expiration of the Base Term, regardless of whether caused by the acts or omissions of Lessee or otherwise, then in addition to (and payment thereof has not been made on in substitution for) any other rights and remedies to which Lessor may be entitled under this Agreement or before otherwise, Lessor shall be entitled to retain the Closing Date. Delinquent then unapplied portion of the Prepaid Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed in consideration for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected loss incurred by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction Lessor as a result of such tenant or the early termination of the underlying Lease. “Additional Rents” shall mean any , it being agreed by the parties hereto that such portion of the Prepaid Rent and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, such other comparable expenses rights and pass-through charges and any other tenant charges. The provisions remedies to which Lessor is then entitled reflect the loss incurred by Lessor as a result of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsuch early termination.

Appears in 2 contracts

Samples: Lease Agreement (Vistra Energy Corp), Lease Agreement (Vistra Energy Corp)

Base Rent. Purchaser will receive a credit Lessee agrees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.8 of this Lease, which amount shall be payable to Lessor at Closing the address shown in Section 1.1 above or at such address that Lessor in writing shall notify Lessee. One (1) monthly installment of rent shall be due and payable on the date of execution of this Lease by Lessee for the prorated amount of all base or fixed first month's rent and a like monthly installment shall be due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser first day of each calendar month succeeding the Commencement Date during the term of this Lease, without demand offset or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businessreduction; provided, howeverif the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that Seller hereby retains calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Unless otherwise specified, Lessee shall pay as additional rent all other sums due under this Lease at the same time and in the same manner as the base rent due hereunder. No payment by Lessee or receipt by Lessor of a lesser amount than the monthly installment of rents herein stipulated shall be deemed to be other than a payment on account of the earliest stipulated rent and/or additional rent; nor shall any endorsement of payment on any check or any letter accompanying any check or payment as rent be deemed an accord or satisfaction and Lessor may accept such check for payment without prejudice to Lessor's right to recover the balance of such rent and/or additional rent or to pursue any tenant other remedy provided in this Lease and/or under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationapplicable law.

Appears in 2 contracts

Samples: Office Lease Agreement (Titan Exploration Inc), Office Lease Agreement (Pure Resources Inc)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or fixed rent materials furnished by Landlord at Tenant's request), all of which hereinafter may be collectively called "RENT." In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable pursuant to in advance in monthly installments of the Leases first day of each calendar month during the Lease Term and all Additional Rents (collectively, “Rent”) previously paid to, any extensions or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Daterenewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. No payment thereof has not been made by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or before statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the Closing Datebalance or pursue any other available remedy. Delinquent The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be prorated at Closingconstrued to be a waiver of Landlord's right to declare a default for any other late payment. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant's covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 2 contracts

Samples: Industrial Building Lease Agreement (Intelliready Inc /Co/), Office Lease Agreement (Integrated Information Systems Inc)

Base Rent. Purchaser will receive a credit Commencing on the applicable Lease Commencement Date (as the same may be delayed by the express provisions of this Lease), as set forth in Section 3.2 of the Summary, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at Closing for the prorated amount management office of all base the Project, or fixed rent payable pursuant by wire transfer to the Leases and all Additional Rents address set forth in Section 11 of the Summary, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check or wire transfer for currency, which, at the time of payment, is legal tender for private or public debts in the United States of America, the applicable base rent (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing Datefirst day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever except as expressly set forth elsewhere in this Lease. Delinquent Rent Concurrently with Tenant’s execution of this Lease, Tenant shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied provide Landlord with $1,860,000.00 as follows: (i) first, to Delinquent Rent owed payment for the Base Rent for the minimum size of the Phase I Premises for the first full month in of the Lease Term, which amount shall be adjusted to the Closing Date occurs actual amount of the Base Rent for the Phase I Premises for the first full month of the Lease Term concurrently with Tenant’s delivery of the Phase Designation Notice. If any Rent payment date (including any Lease Commencement Date) falls on a day of the “Closing Month”)month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, (ii) second, to the Rent for any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller fractional month shall accrue on a daily basis for the period prior from the date such payment is due to Closingthe end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. Any Rent collected by Purchaser and due Seller will All other payments or adjustments required to be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser made under the terms of this Lease that require proration on a time basis shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in prorated on the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsame basis.

Appears in 2 contracts

Samples: Project Agreement (Dropbox, Inc.), Project Agreement (Dropbox, Inc.)

Base Rent. Purchaser will receive 3.1. Tenant shall pay, without prior notice, demand, setoff or deduction, to Landlord or Landlord’s agent at the address set forth in Section 10 of the Summary, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 9 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 9 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing Datefirst (1st) day of each and every calendar month during the Lease Term, without any abatement, setoff or deduction whatsoever. Delinquent Rent In accordance with Section 29.25, this Article 3 shall be construed as though the covenants herein between Landlord and Tenant are independent and Tenant shall not be prorated at Closingentitled to any setoff of the Rent or other amounts owing to Landlord under this Article 3. All The Base Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the first full month in of the Lease Term which occurs after the Closing Date occurs expiration of any free rent period (the “Closing MonthInitial Base Rent”) shall be paid on or before November 10, 2008 (the “Initial Base Rent Payment Date”). Notwithstanding anything to the contrary contained in this Lease, (iiincluding without limitation, Section 19.1(a) secondbelow, Tenant’s failure to pay the Initial Base Rent on or before the Initial Base Rent Payment Date shall constitute a Default of Tenant without need for additional notice and opportunity to cure and interest shall accrue on any late payment of Initial Base Rent at the Default Rate without regard to any accrued Rents owing to Purchasergrace period provided under Section 25 below. If any Rent payment date (including the Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, and (iii) third, to Delinquent Rents owing to Seller the Rent for any fractional month shall be calculated on a daily basis for the period prior from the date such payment is due to Closingthe end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/30th of the applicable monthly Rent. Any Rent collected by Purchaser and due Seller will All other payments or adjustments required to be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser made under the terms of this Lease that require proration on a time basis shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in prorated on the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsame basis.

Appears in 2 contracts

Samples: Office Lease (Xenith Bankshares, Inc.), Office Lease (Xenith Bankshares, Inc.)

Base Rent. Purchaser will receive a credit at Closing In addition to Tenant’s obligation to pay Base Rent for the Original Premises, during the Temporary Space Term, Tenant shall pay Landlord the sum of $11,603.00 per month as Base Rent for the Temporary Space, plus applicable state sales and use taxes, with each such installment payable on or before the first day of each month during the period beginning on the Temporary Space Effective Date and ending on the Temporary Space Termination Date, prorated for any partial month within the Temporary Space Term. All such Base Rent, plus applicable state sales and use taxes, shall be payable by Tenant in accordance with the terms of the Lease. Notwithstanding anything to the contrary in this Section 2, Tenant shall be entitled to an abatement of Base Rent with respect to the Premises in the monthly amount of $11,603.00 per month for the Temporary Space Term (collectively, the “Abated Base Rent”). However, if Landlord desires to lease the Expansion Space to Tenant and Landlord and Tenant have not entered into a lease amendment for the Expansion Space on or before August 31, 2012, then all base or fixed Abated Base Rent shall immediately become due and payable, and notwithstanding anything in Section 1 above to the contrary, the Temporary Space Termination Date shall be September 30, 2012. If Landlord elects not to lease the Expansion Space to Tenant, Tenant may continue to lease the Temporary Space on a month to month basis, but shall no longer be entitled to the Abated Base Rent, and Tenant shall pay Base Rent for the Temporary Space, effective immediately upon Landlord’s notice to Tenant. Only Base Rent shall be abated pursuant to this Section, as more particularly described herein, and Tenant’s Share of Expenses and Taxes and all other rent and other costs and charges specified in the Lease, as amended hereby, shall remain as due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership provisions of the Property; and provided furtherLease, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationas amended hereby.

Appears in 2 contracts

Samples: Office Lease Agreement (GoPro, Inc.), Office Lease Agreement (GoPro, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth on the second page of all base or fixed rent this Lease, subject to adjustment in the event the Remeasurement reveals that the Premises consist of less than fifteen thousand (15,000) square feet. The first month’s Base Rent and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable pursuant to on the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Datedate hereof, and payment thereof has not been made Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Rent Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller Tenant to Landlord hereunder shall be payable at such address as Landlord may specify. from each tenant from and after Closing will time to time by written notice delivered in accordance herewith. Any change in the address for payment of rent shall be applied as follows: delivered by Landlord to Tenant at least fifteen (i15) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period days prior to Closingthe effective date of such change in address. Any Rent collected by Purchaser and due Seller will be promptly remitted The obligation of Tenant to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to axxxx, reduce, or set-off any rent due Seller for period attributable hereunder except where expressly provided in this Lease. Tenant acknowledges that late payment by Tenant to SellerLandlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such casts being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, Operating Expenses or other sums due and payable hereunder after five (5) days from Tenant’s ownership receipt of notice from Landlord that such payment is past due, Tenant shall pay to Landlord a late charge equal to five percent (5%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the Property; and provided further, however, Seller (i) costs that Landlord will incur by reason of such late payment by Tenant. The provision for such late charge shall be required in addition to notify Purchaser in writing all of SellerLandlord’s intention to commence other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 2 contracts

Samples: Sublease (MetaMorphix Inc.), Lease Agreement (MetaMorphix Inc.)

Base Rent. Purchaser will receive a credit Tenant agrees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.4 of this Lease, which amount shall be payable to Landlord at Closing the address shown above. One monthly installment of rent shall be due and payable on the date of execution of this Lease by Tenant for the prorated amount of all base or fixed first month's rent and a like monthly installment shall be due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing first day of each calendar month succeeding the Rent Commencement Date during the term of this Lease; provided, if the Rent Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Rent Commencement Date. Delinquent Rent , this Lease shall not be prorated at Closingvoid or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent shall be abated until Landlord delivers possession. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstbase rent, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent additional rent and other sums due Seller for period attributable payable by Tenant pursuant to Seller’s ownership of the Property; this Lease are payable without demand and provided furtherwithout any reduction, howeverabatement, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence counterclaims or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsetoff.

Appears in 2 contracts

Samples: Basic Lease Terms (Insignia Systems Inc/Mn), Insignia Systems Inc/Mn

Base Rent. Purchaser will receive a Tenant shall pay to Landlord, in advance on the first day of each month of the Term, without further notice or demand and without abatement, offset (except as expressly set forth herein), rebate, credit at Closing or deduction for any reason whatsoever, the monthly installments of rent specified in the Basic Lease Information (the “Base Rent”). Upon execution of this Lease, Tenant shall pay the Prepaid Base Rent, specified in the Basic Lease Information to be applied toward Base for the prorated month of the Term specified in the Basic Lease Information. Notwithstanding anything herein to the contrary, Tenant shall be excused from the obligation of paying the Base Rent (but not any other amounts) due hereunder for the Phase I Premises for the first six (6) full calendar months following the Commencement Date (expected to be April through September 2019), in the aggregate amount of all base or fixed rent payable $2,130,026.52 (the “Excused Base Rent”). However, should a Default occur prior to the full application of the Excused Base Rent, then such application of the Excused Base Rent shall be tolled until such time as the Default is cured, and in the event that Landlord properly exercises Landlord’s remedy to terminate this Lease pursuant to Paragraph 25 below as a result of a Default by Tenant, then the Pro-Rated Excused Base Rent shall no longer be excused and shall become an obligation of Tenant hereunder, and Landlord shall be entitled to seek recovery of the Pro-Rated Excused Base Rent as part of the damages to which Landlord is otherwise entitled pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course terms of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. As used herein, the term Additional RentsPro-Rated Excused Base Rent” shall mean any an amount computed by dividing the Excused Base Rent by one hundred twenty (120) and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions then multiplying the resulting quotient by the number of this Section 14.5 shall survive months which would have remained in the Closing and Term as of the delivery month of any conveyance documentationsuch Default by Tenant hereunder.

Appears in 2 contracts

Samples: Lease Agreement (10X Genomics, Inc.), Lease Agreement (10x Genomics, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth on Page 1 of all base or fixed rent payable pursuant to this Lease. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser Tenant to Landlord hereunder (or Seller to such other party as Landlord may from each tenant from and after Closing will be applied as follows: (itime to time specify in writing) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted made by check or by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern Time at such place, within the continental United States, as Landlord may from time to Purchasertime designate to Tenant in writing. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due Seller hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for period attributable more than 5 days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to 8 percent of the Property; and provided further, however, Seller (i) such delinquent sum. The provision for such late charge shall be required in addition to notify Purchaser in writing all of Seller’s intention to commence Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 2 contracts

Samples: Lease Agreement, The Lease Agreement (American Apparel, Inc)

Base Rent. Purchaser will receive Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the address set forth in Section 4.2 of the Summary, or, at Landlord’s option, at such other place as Landlord may from time to time designate by delivering written notice to Tenant at Tenant’s notice address as set forth herein, by a credit check or wire transfer for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. Delinquent All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Notwithstanding anything to the contrary in this Lease, Tenant may at its election pay any Rent to Landlord by electronic transfer and Landlord shall provide Tenant with ACH information upon request from Tenant. Notwithstanding the foregoing or anything to the contrary herein, provided Tenant is not then in default under this Lease (beyond the expiration of any applicable notice and cure period), Tenant shall not be prorated at Closing. All obligated to pay fifty percent (50%) of the Base Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: fifty percent (i50%) first, to Delinquent Rent owed for of Tenant’s Share of Direct Expenses due under this Lease during months one (1) through twelve (12) of the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businessinitial Lease Term; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Tenant shall be required obligated upon the Lease Commencement Date, and for all periods thereafter, to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “pay all other Additional Rents” shall mean any and all amounts due from tenants for operating expensesRent payable under this Lease including, common area maintenance without limitation, parking charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 2 contracts

Samples: Office Lease (Artiva Biotherapeutics, Inc.), Office Lease (Artiva Biotherapeutics, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Throughout the prorated Lease Term, Tenant shall pay Base Rent in the amount set forth above. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of all base or fixed rent payable pursuant to the Leases Base Rent and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Rent on or before the Closing first day of each calendar month commencing on the Commencement Date. Delinquent If the Lease Term commences or expires on a date other than the first day or the last day of a calendar month, respectively, then the Rent payable for such partial calendar month shall not be prorated an amount equal to the monthly installment of Rent otherwise then in effect, divided by the number of days in the full calendar month during which the Lease Term commences or expires, respectively, and multiplied by the number of days in the partial calendar month after and including the Commencement Date or before and including the date of expiration, respectively, and provided further that the Rent for any partial calendar month at Closingthe commencement of the Initial Lease Term shall be payable on the first day of the first full calendar month during the Lease Term. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstsums, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”)liabilities, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent obligations and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be amounts which Tenant is required to notify Purchaser pay or discharge pursuant to this Lease in writing of Seller’s intention addition to commence Base Rent, including without limitation assessments or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance chargescharges due and payable to any applicable ownership associations, taxestogether with any interest, shared utility chargespenalty, management feesor other sum which may be added for late payment thereof, insurance costsshall constitute additional rent hereunder (herein called "Additional Rent"). In the event of any failure on the part of Tenant to pay or discharge any of the foregoing, other comparable expenses Landlord shall have all rights, powers and pass-through charges and any other tenant chargesremedies provided for herein (or by law or equity or otherwise) in the case of nonpayment of Base Rent. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The provisions obligation of this Section 14.5 shall survive the Closing Tenant to pay Base Rent and Additional Rent (sometimes hereinafter collectively referred to as "Rent") and the delivery obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any conveyance documentationtime to xxxxx, reduce, or set-off any Rent due hereunder.

Appears in 2 contracts

Samples: Lease (Blue Rhino Corp), Lease (Blue Rhino Corp)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Rent Commencement Date occurs (or, if the “Closing Month”)Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the Rent Commencement Date) and the Security Deposit shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. For the avoidance of doubt, Tenant shall not be required to pay Base Rent for the period commencing on the Commencement Date through the day immediately preceding the Rent Commencement Date. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the Rent Commencement Date, in lawful money of the United States of America, at Tenant’s election either (i) at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or (ii) second, via federally insured wire transfer (including ACH) pursuant to the wire instructions provided by Landlord. Payments of Base Rent for any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser fractional calendar month shall be promptly remitted prorated. The obligation of Tenant to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any Rent (as defined in Section 5) due Seller hereunder except for period attributable any abatement as may be expressly provided in this Lease. Notwithstanding anything to Seller’s ownership of the Property; and provided furthercontrary contained in this Lease, howeverso long as Tenant is not then in Default (as defined in Section 20) under this Lease, Seller (i) Tenant shall not be required to notify Purchaser in writing of Seller’s intention pay Base Rent with respect to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination Premises for the period commencing on the first day of the underlying Lease2nd full calendar month immediately following the Rent Commencement Date through the last day of the 7th full calendar month immediately following the Rent Commencement (the “Abatement Period”). “Additional Rents” Tenant shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesresume paying Base Rent with respect to the entire Premises on the day immediately following the expiration of the Abatement Period. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.Net Lease Net Lease 9877 Xxxxxx/Cue - Page 4

Appears in 2 contracts

Samples: Lease Agreement (Cue Health Inc.), Lease Agreement (Cue Health Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth on Page 1 of all base or fixed rent payable pursuant to this Lease. The first month’s Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser Tenant to Landlord hereunder (or Seller to such other party as Landlord may from each tenant from and after Closing will be applied as follows: (itime to time specify in writing) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted made by check or by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern Time at such place, within the continental United States, as Landlord may from time to Purchasertime designate to Tenant in writing. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due Seller hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for period attributable more than 5 days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to five percent (5%) of the Property; and provided further, however, Seller (i) such delinquent sum. The provision for such late charge shall be required in addition to notify Purchaser in writing all of SellerLandlord’s intention to commence other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 2 contracts

Samples: Lease Agreement (Virobay Inc), Lease Agreement (Virobay Inc)

Base Rent. Purchaser will receive Tenant agrees to pay Landlord a credit total base rent ("Annual Base Rent") of Eight Hundred Eighty Three Thousand Two Hundred Three and No/100 Dollars ($833,203.00 ) payable in equal monthly installments ("Monthly Base Rent") of Seventy Three Thousand Six Hundred and 25/100 Dollars ($73,600.25) per month without any offset or deduction whatsoever. Monthly Base Rent shall be payable in advance on the first day of each month during the term of this Lease, in lawful money of the United States of America, and shall be made at Closing the address of Landlord set forth above or elsewhere as designated by Landlord's written notice. If the Lease Term shall commence on any day other than the first day of a month, Tenant shall pay Landlord, on said commencement date, rent as provided for herein for such commencement month on a pro rata basis calculated based on the actual number of days in the commencement month, and the Monthly Base Rent paid by Tenant, if any, upon execution of this Lease shall be credited to the Monthly Base Rent due for the first full calendar month of the Lease Term. Rent for any such partial month of occupancy at the end of the term of this Lease will be prorated to be based on the actual number of days in the partial month. In addition to Monthly Base Rent, Tenant shall pay Landlord in advance on the first day of each month, a sum equal to any sales tax, tax on rentals, and any other charges, taxes and/or impositions now in existence or hereafter imposed in connection with renting the Premises or upon the amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Datetherefor. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Said amounts shall be promptly remitted treated and collectible as rent. Nothing herein shall be taken to Purchaserrequire Tenant to pay any part of any Federal or State taxes imposed upon the income of Landlord. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Tenant shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue pay Landlord interest on any legal proceedings; rent due that remains unpaid for five (5) days after its due date. Said interest will be computed from the due date at the maximum rate allowed by law. The Annual Base Rent and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts Monthly Base Rent due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of Tenant shall be adjusted as provided elsewhere in this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationLease.

Appears in 2 contracts

Samples: Office Lease Agreement (BMS Distributing Corp.), Office Lease Agreement (Claires Stores Inc)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and, except as otherwise set forth in this Lease, Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in writing) shall be made by check or Electronic Fund Transfer ("EFT") of immediately available federal funds before 11:00 a.m., Eastern Time, at such place, within the continental United States, as Landlord may from time to time designate to Tenant in writing. Except as otherwise set forth herein, the obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Landlord shall not be required to notify Purchaser give such notices more than twice in writing any calendar year or 4 times over the term of Seller’s intention the Lease. The provision for such late charge shall be in addition to commence all of Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 2 contracts

Samples: Lease Agreement (Ikanos Communications), Lease Agreement (Ikanos Communications)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or fixed rent payable pursuant to the Leases and materials furnished by Landlord at Tenant’s request), all Additional Rents (collectively, of which hereinafter may be collectively called “Rent”) previously .” In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid toto Landlord by Tenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments of the first day of each calendar month during the Lease Term and any extensions or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Daterenewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. No payment thereof has not been made by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or before statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the Closing Datebalance or pursue any other available remedy. Delinquent The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be prorated at Closingconstrued to be a waiver of Landlord’s right to declare a default for any other late payment. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant’s covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 2 contracts

Samples: Office Lease Agreement (Wageworks, Inc.), Office Lease Agreement (Quest Resource Corp)

Base Rent. Purchaser will receive a credit Tenant shall pay, without notice or demand, to Landlord or Landlord's agent at Closing for the prorated amount management office of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid toProject, or collected byat such other place as Landlord may from time to time designate in writing, Seller and attributable to any period following in currency or check for currency which, at the Closing Date. Rents are “Delinquent” when they were due prior to time of payment, is legal tender for private or public debts in the Closing DateUnited States of America, and payment thereof has not been made base rent ("Base Rent") as set forth in Section 8 of the Summary, payable in equal monthly installments as set forth in Section 8 of the Summary in advance on or before the Closing first day of each and every month during the Lease Term, without any setoff or deduction whatsoever, except as expressly provided for herein. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant's execution of this Lease. If any rental payment date (including the Lease Commencement Date) falls on day of the month other than the first day of such month or if any rental payment is for period which is shorter than one month, then the rental for any such fractional month shall be proportionate amount of full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. Delinquent Rent All other payments or adjustments required to be made under the terms of this Lease that require proration on time basis shall not be prorated at Closingon the same basis. All Rent collected by Purchaser or Seller from each tenant from Notwithstanding anything to the contrary contained herein and after Closing will provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to [***] Premises only). During such [***] period, Tenant shall still be applied as follows: (i) first, to Delinquent Rent owed responsible for the month payment of all of its other monetary obligations under this Lease. In the event of default by Tenant under the terms of this Lease that results in which early termination pursuant to the Closing Date occurs (provisions of Article 19 of this Lease, then as part of the “Closing Month”)recovery set forth in Article 19 of this Lease, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord shall be promptly remitted entitled to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course recovery of its businessthe monthly Base Rent that was [***] under the provisions of this Article 3; provided, however, that Seller hereby retains the right recoverable amount of monthly Base Rent that was [***] under this Article 3 shall, during each month during the initial Lease Term, be deemed reduced by an amount equal to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction [***] of such tenant or the termination total amount of the underlying Lease[***] monthly Base Rent. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions [***] Confidential portions of this Section 14.5 shall survive document have been redacted and filed separately with the Closing and the delivery of any conveyance documentationCommission.

Appears in 2 contracts

Samples: Office Lease (Bridgepoint Education Inc), Office Lease (Bridgepoint Education Inc)

Base Rent. Purchaser will receive Tenant shall pay, without notice or demand, to Landlord at the address specified in Section 8.1 of the Summary, or, at Landlord’s option, such other place as Landlord may from time to time designate in writing, in currency or a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated United States of America, base rent (“Base Rent”) as set forth in Section 8 of the Summary, payable in equal monthly installments as set forth in Section 8 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. If any rental payment date (including the Lease Commencement Date) falls on a day of a calendar month other than the first day of such calendar month or if any Rent payment is for a period which is shorter than one calendar month (such as during the last month of the Lease Term), the Rent for any fractional calendar month shall be the proportionate amount of all base or fixed rent payable pursuant a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the Leases number of days in the calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Landlord and Xxxxxx hereby agree that it is their intent that all Base Rent, Additional Rents Rent and other rent and charges payable to the Landlord under this Lease (collectively, hereinafter individually and collectively referred to as “Rent”) previously paid toshall qualify as “rents from real property” within the meaning of Section 856(d) of the Internal Revenue Code of 1986, or collected byas amended, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing MonthCode”) and the Department of the U.S. Treasury Regulations promulgated thereunder (the “Regulations”). Should the Code or the Regulations, (iior interpretations thereof by the Internal Revenue Service contained in revenue rulings or other similar public pronouncements, be changed so that any Rent no longer so qualifies as “rent from real property” for purposes of Section 856(d) secondof the Code and the Regulations promulgated thereunder, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any such Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller adjusted in such manner as the ordinary course of its businessLandlord may require so that it will so qualify; provided, however, that Seller hereby retains the right any adjustments required pursuant to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) this Section 3 shall be required made so as to notify Purchaser produce the equivalent (in writing of Seller’s intention economic terms) Rent as payable prior to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesadjustment. The parties agree to execute such further instrument as may reasonably be required by the Landlord in order to give effect to the foregoing provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation3.

Appears in 2 contracts

Samples: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)

Base Rent. Purchaser will receive a credit Commencing on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”) (as the same may be delayed by the express provisions of this Lease), Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at Closing for the prorated amount management office of all base or fixed rent payable pursuant the Project, or, by wire transfer to the Leases and all Additional Rents address set forth in Section 11 of the Summary, or at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a check or wire transfer for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing Datefirst day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever except as expressly set forth elsewhere in this Lease. Delinquent The Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the first full month in of the Lease Term which occurs after the Closing Date occurs expiration of any free rent period shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the “Closing Month”)Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, (ii) second, to the Rent for any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller fractional month shall accrue on a daily basis for the period prior from the date such payment is due to Closingthe end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. Any Rent collected by Purchaser and due Seller will All other payments or adjustments required to be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser made under the terms of this Lease that require proration on a time basis shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in prorated on the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsame basis.

Appears in 2 contracts

Samples: Office Lease (Dropbox, Inc.), Office Lease (Dropbox, Inc.)

Base Rent. Purchaser will receive a credit at Closing During the Lease Term (as it may be extended pursuant to Article III hereof), Tenant shall pay to Landlord as rent for the Premises the Base Rent described in Section 1.05, without notice, demand, abatement, deduction or offset for any reason. If the Commencement Date is other than the first day of a calendar month, Base Rent for the first month of the Term shall be prorated amount in the proportion that the number of all base or fixed rent days this Lease is in effect during such partial month bears to the total number of days in such month. Base Rent due for the last month of the Term shall be similarly prorated if the Expiration Date does not fall on the last day of the month. Base Rent shall accrue on a monthly basis, but shall not be payable by Tenant until (i) Tenant's purchase of the Premises pursuant to the Leases Purchase Option described in Article XXII, (ii) a Tenant default beyond applicable notice and all Additional Rents (collectivelycure periods under Article XV hereof, “Rent”) previously paid toor, if Tenant exercises the Purchase Option, under the Purchase Agreement attached hereto as Exhibit E, or collected by(iii) the Lease otherwise terminates or expires without Tenant having exercised the Purchase Option. Upon any default beyond applicable notice and cure periods, Seller all accrued Base Rent shall be immediately due and attributable payable and thereafter, any Base Rent coming due shall be immediately payable notwithstanding the delayed payment contemplated by this Section 4.01. Upon Tenant's exercise of the Purchase Option, all Base Rent accrued and owing through the date of Tenant's exercise of the Purchase Option shall be deemed earned and shall become due and payable, but Tenant may pay such accrued Base Rent, together with any additional base rent which accrues thereafter, at the Closing, in accordance with the terms of the Purchase Agreement. Thereafter, Tenant shall pay Base Rent in advance on the first day of each month during the Term hereof (as extended) until the sooner of the closing under the Purchase Agreement or expiration of the Term and Tenant's surrender of the Premises in accordance with the requirements of this Lease. Base Rent and other payments pursuant to any period following the Closing Date. Rents are “Delinquent” when they were due prior this Lease shall not be credited to the Closing Date, purchase price under the Purchase Agreement. Tenant shall pay holdover rent in accordance with Section 21.03 hereof if Tenant does not acquire the Premises pursuant to the Purchase Agreement and payment thereof has holds over beyond the expiration of the Term of this Lease or does not been made surrender the Premises in the condition required by this Lease on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership expiration of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationTerm.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Laidlaw Energy Group, Inc.), Purchase and Sale Agreement (Laidlaw Energy Group, Inc.)

Base Rent. Purchaser will receive Commencing on the Lease Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the address set forth in Section 4.2 of the Summary, or, at Landlord’s option, at such other place as Landlord may from time to time designate by delivering written notice to Tenant at Tenant’s notice address as set forth herein, by a credit check or wire transfer for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. Delinquent It is intended that this Lease be a “triple net lease,” and that the Rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable, except as otherwise expressly provided in this Lease. Except as expressly provided to the contrary in this Lease, Landlord shall not be prorated at Closingrequired to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises or the Project. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Notwithstanding the foregoing, provided Tenant is not in Default under this Lease, Landlord hereby agrees to xxxxx Tenant’s obligation to pay Base Rent collected by Purchaser or Seller from each tenant from during the Base Rent Abatement Period (such total amount of abated Base Rent in the total amount of $1,111,347.90 (i.e., $74,089.86 per month for 15 months) being hereinafter referred to as the “Abated Base Rent”) (the Abated Base Rent, Abated Parking Charges [as defined in Section 8 of the Summary], Abated Fitness Center Charges [as defined in Section 29.39 below], Abated Conference Room Charges [as defined in Section 29.40 below], and after Closing Applied Allowance [as defined in the Tenant Work Letter] are collectively referred to herein as the “Abated Amount”). During the Base Rent Abatement Period, Tenant will still be applied as follows: (i) first, to Delinquent Rent owed responsible for the month payment of all other monetary obligations under this Lease. Tenant acknowledges that any Default under this Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain, therefore, should Tenant at any time during the Lease Term be in which Default under this Lease, then the Closing Date occurs total unamortized sum of such Abated Amount (amortized on a straight line basis over of the last 120 months of the initial Lease Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord and any remaining Abated Amount shall no longer be available to Tenant as a rent credit from the date of such Default. Tenant acknowledges and agrees that nothing in this Article 3 is intended to limit any other remedies available to Landlord at law or in equity under applicable Laws (including, without limitation, the remedies Under California Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws) in the event of a Default under this Lease. Notwithstanding the foregoing, Landlord shall have the option to make a cash payment (the “Closing MonthBuyout Payment) to Tenant in the amount of the then remaining Abated Base Rent due under the immediately preceding paragraph, and/or any unused Allowance which may be applied pursuant to Section 5(f) of the Tenant Work Letter (i.e., the Applied Allowance, subject to the Outside Allowance Date). Upon Landlord’s tender of such Buyout Payment, Tenant shall no longer be entitled to the Abated Base Rent and/or any available Applied Allowance. Landlord shall exercise its option to buy out the Abated Base Rent and/or Applied Allowance by delivering at least ten (ii10) second, days’ prior written notice thereof to any accrued Rents owing to PurchaserTenant, and (iii) third, shall make the Buyout Payment to Delinquent Rents owing to Seller for Tenant on or about the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller date set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationnotice.

Appears in 1 contract

Samples: Office Lease (Xponential Fitness, Inc.)

Base Rent. Purchaser will receive Tenant has delivered to Landlord a credit at Closing for payment in the prorated amount of all base or fixed rent payable pursuant $683,460.32 which as been applied against the Base Rent first coming due from Tenant under this Lease. Commencing on the Initial Commencement Date, Tenant shall pay full Base Rent with respect to Xxxxxxxx 0, Xxxxxxxx 0 and Building 3. Commencing on the Initial Building 4 Commencement Date with respect to the Leases Initial Building 4 Premises and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following on the Closing Date. Rents are “Delinquent” when they were due prior Remaining Building 4 Premises Rent Commencement Date with respect to the Closing DateRemaining Building 4 Premises, and payment thereof has not been made Tenant shall pay Base Rent with respect to Building 4. Except as may be expressly provided for in this Lease, Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the Closing Datefirst day of each calendar month during the Term hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Delinquent Payments of Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the any fractional calendar month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted prorated. The obligation of Tenant to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as may be expressly provided for in this Lease, Tenant shall have no right at any time to xxxxx, reduce, or set-off any Rent (as defined in Section 5) due Seller for period attributable hereunder. Notwithstanding anything to Seller’s ownership the contrary contained in this Lease, commencing on the Building 5 Rent Commencement Date and continuing thereafter on the first day of each month during the Property; and provided furtherTerm, however, Seller (i) Tenant shall be required to notify Purchaser pay monthly Base Rent for Building 5 in writing the amount set forth on page 1 of Seller’s intention this Lease, subject to commence or pursue any legal proceedings; and (iiincreases as provided for in Section 4(a) hereof by the Bi-Annual Rent Adjustment Percentage on every other anniversary of the Initial Commencement Date. Notwithstanding the foregoing, the first Bi-Annual Rent Adjustment with respect to Building 5 only shall not occur until November 1, 2015. Except as may otherwise be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or provided in Section 40, the termination Base Term of the underlying Lease. “Additional Rents” Lease with respect to Building 5 shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive expire on the Closing and same day as the delivery of any conveyance documentationBase Term with respect to the original Premises.

Appears in 1 contract

Samples: Lease Agreement (Illumina Inc)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Rent Commencement Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted due and payable on or before the Rent Commencement Date. Tenant shall pay to PurchaserLandlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the Rent Commencement Date, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course Payments of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases Base Rent for any fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any Rent (as defined in Section 5) due Seller hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything Net Lease 10151 Xxxxxx Canyon/Tandem - Page 4 to the contrary contained in this Lease, in no event shall Tenant be required to pay for Base Rent or Operating Expenses for any period attributable prior to Seller’s ownership the Rent Commencement Date. Notwithstanding anything to the contrary contained herein, so long as no Default has occurred and is continuing under this Lease, Tenant shall not be required to pay Base Rent with respect to the Premises for the period commencing on the later of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence the Rent Commencement Date, or pursue any legal proceedings; and (ii) February 1, 2017 (either, the “Abatement Commencement Date”), through the date that is 7 months after the Abatement Commencement Date (the “Abatement Period”). Tenant shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or resume, as applicable, paying Base Rent on the termination day immediately following the expiration of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationAbatement Period.

Appears in 1 contract

Samples: Lease Agreement (Tandem Diabetes Care Inc)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or fixed rent payable pursuant to the Leases and materials furnished by Landlord at Tenant’s request that are not included in Basic Costs), all Additional Rents (collectively, of which hereinafter may be collectively called “Rent”) previously .” In addition, Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid toto Landlord by Tenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term and any extensions or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Daterenewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. No payment thereof has not been made by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or before statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the Closing Datebalance or pursue any other available remedy. Delinquent The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be prorated at Closingconstrued to be a waiver of Landlord’s right to declare a default for any other late payment. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant’s covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Office Lease Agreement (VirtualArmour International Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. the obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. Tenant waives and releases all statutory liens and offset rights as to rent. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses beyond 5 days after the due date thereof, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be prorated required to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence required more than once in any 12-month period or pursue any legal proceedings against any tenant seeking eviction of such tenant or 3 times over the termination term of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions for such late charge shall be in addition to all of this Section 14.5 Landlord's other rights and remedies hereunder or at law and shall survive the Closing and the delivery of any conveyance documentationnot be construed as a penalty.

Appears in 1 contract

Samples: Lease Agreement (CVC Inc)

Base Rent. Purchaser will receive Tenant shall pay, without notice or demand, to Landlord at the management office of the Building Complex, or, at Landlord’s option, such other place as Landlord may from time to time designate in writing, in currency or a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, ( Base Rent”) previously paid toas set forth in Section 8 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 8 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full calendar month of the Lease Term which occurs after the expiration of any free rent period shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date (including the Lease Commencement Date) falls on a day of a calendar month other than the first day of such calendar month or if any Rent payment is for a period which is shorter than one calendar month (such as during the last month of the Lease Term), the Rent for any fractional calendar month shall be the proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. Delinquent All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Provided Tenant is not in default under the terms of this Lease beyond any applicable cure periods, Landlord conditionally agrees that Tenant’s obligation to pay Base Rent shall not be prorated at Closingabated during the second (2nd) and the third (3rd) full calendar months of the initial Lease Term (collectively, the “Abatement Months”). All The total amount of Base Rent collected by Purchaser or Seller from each tenant from and after Closing abated pursuant to the immediately preceding sentence is hereafter referred to collectively as the “Abated Rent”. During the Abatement Months, Tenant will still be applied as follows: (i) first, to Delinquent Rent owed responsible for the month payment of all other monetary obligations under this Lease. The Abated Rent shall only be granted provided Tenant is not in which default under this Lease beyond any applicable notice and cure period. Tenant acknowledges that any default by Tenant under this Lease will cause Landlord to incur costs not contemplated hereunder, the Closing Date occurs (exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the “Closing Month”), (ii) second, Lease Term be in default after having been given notice and opportunity to any accrued Rents owing to Purchasercure, and (iii) thirdas a result of such uncured default Landlord elects to terminate this Lease, then the total amount of such Abated Rent so conditionally excused shall become immediately due and payable by Tenant to Delinquent Rents owing Landlord and any remaining Abated Rent shall no longer be available to Seller for Tenant as a rent credit from the period prior date of such default. Tenant acknowledges and agrees that nothing in this subsection is intended to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted limit any other remedies available to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller Landlord at law or in equity under applicable law in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue event Tenant defaults under this Lease beyond any tenant under the Leases for any Rent applicable notice and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationcure period.

Appears in 1 contract

Samples: Office Lease (Nabriva Therapeutics PLC)

Base Rent. Purchaser will receive a credit Tenant shall pay, without notice or demand, to Landlord or Landlord’s agent at Closing the management office for the prorated amount of all Building, or at such other place as Landlord may from time to time designate in writing, in cash or other immediately available good funds, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 8 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 8 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every month starting on the Rent Commencement Date and continuing during the remainder of the Lease Term, without any setoff or deduction whatsoever. The Base Rent and Additional Rent for the first full month and partial month of the Lease Term in which Base Rent is payable hereunder shall be paid at the time of Tenant’s execution of this Lease. If any rental payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. Delinquent Rent All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall not be prorated at Closingon the same basis. All Notwithstanding the preceding provisions of this Article 3 to the contrary, provided that Tenant is not in default under this Lease, the Base Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed due for the last full calendar month in which of the Closing Date occurs Lease Term (the “Closing MonthRent Abatement Period”) shall be fully abated (the “Abated Rent”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Tenant shall be required to notify Purchaser in writing pay Tenant’s Share of Seller’s intention Operating Expenses, Tax Expenses, and Utilities Costs due pursuant to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions terms of this Section 14.5 Lease during the Rent Abatement Period. Furthermore, if a material default beyond any notice and cure period by Tenant shall survive occur during the Closing Rent Abatement Period, the Abated Rent shall be immediately due and the delivery of any conveyance documentationpayable.

Appears in 1 contract

Samples: Atlas Crest Investment Corp.

Base Rent. Purchaser will receive a credit Xxxxxx agrees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.4 of this Lease, which amount shall be payable to Landlord at Closing the address shown above. One monthly installment of base rent shall be due and payable on the date of execution of this Lease by Tenant for the prorated amount of all base or fixed first month's rent and a like monthly installment shall be due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing first day of each calendar month succeeding the Rent Commencement Date defined below during the term of this Lease; provided, if the Rent Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date. Delinquent Rent , this Lease shall not be prorated at Closingvoid or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent shall be abated until Landlord delivers possession.Such date of delivery of possession shall be the Rent Commencement Date. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstbase rent, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent additional rent and other sums due Seller for period attributable payable by Tenant pursuant to Seller’s ownership of this Lease are payable without demand and without any reduction, abatement, counterclaims or setoff. Notwithstanding anything to the Property; and provided furthercontrary herein, however, Seller (i) this Lease shall be required null and void at Tenant's option, if Landlord has not delivered possession by July 1, 1997, and in such event, the Security Deposit and first month's rent shall be refunded to notify Purchaser Tenant, in writing of Seller’s intention to commence or pursue any legal proceedings; and full, within ten (ii10) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationdays.

Appears in 1 contract

Samples: Lease Agreement (Xata Corp /Mn/)

Base Rent. Purchaser will receive a credit (a) From and after the mutual execution of this Amendment until the Existing Termination Date, and in addition to all other charges payable under the Lease, Tenant shall continue to pay the Monthly Rent with respect to the Premises in accordance with the terms and provisions of the Existing Lease, except that provided there is no Event of Default by Tenant existing under the Lease at Closing any time before or during the “Waiver Period” (as hereinafter defined), the monthly installments of Monthly Rent due under the Lease is hereby waived by Landlord (“Waived Rent”) for the prorated amount first three (3) full calendar months commencing on the Effective Date or, if the Effective Date is not the first day of a calendar month, on the first day the month immediately following the Effective Date (“Waiver Period”). This waiver shall not affect Tenant’s obligation to pay Tenant’s Electrical Charge, Tenant’s Share of increases in Operating Expenses and Tax Expense, or any other amounts payable by Tenant under the Lease. Commencing on the first day following the expiration of the Waiver Period. Tenant shall re-commence paying the Monthly Rent due under the Existing Lease. Notwithstanding the foregoing, in the event the Lease is terminated prior to the expiration of the Extended Term due to an Event of Default by Tenant, Tenant shall, in addition to any and all base or fixed rent other amounts payable by Tenant pursuant to the Leases and all Additional Rents Lease, repay the entire amount of Waived Rent to Landlord, together with interest at ten percent (collectively10%) per annum, “Rent”) previously paid to, or collected by, Seller and attributable to any period following accruing from the Closing Date. Rents are “Delinquent” when they were date such payment would have been due prior to through the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course date of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction repayment of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationamount by Tenant.

Appears in 1 contract

Samples: Office Lease (Lionbridge Technologies Inc /De/)

Base Rent. Purchaser will receive Lessxx xxxees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.7 of this Lease, which amount shall be payable to Lessor at the address shown in Section 1.9 above or at such address that Lessor in writing shall notify Lessee. One (1) monthly installment of rent shall be due and payable on the date of execution of this Lease by Lessxx xxx the first month's rent and a credit at Closing for the prorated amount of all base or fixed rent like monthly installment shall be due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser first day of each calendar month succeeding the Commencement Date during the term of this Lease, without demand offset or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businessreduction; provided, howeverif the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that Seller hereby retains calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Unless otherwise specified, Lessee shall pay, as additional rent, all other sums due under this Lease at the same time and in the same manner as the base rent due hereunder including Operating Expenses referred to in Section 2.3. No payment by Lessee or receipt by Lessor of a lesser amount than the monthly installment of rents herein stipulated shall be deemed to be other than a payment on account of the earliest stipulated rent and/or additional rent; nor shall any endorsement of payment on any check or any letter accompanying any check or payment as rent be deemed an accord or satisfaction and Lessor may accept such check for payment without prejudice to Lessor's right to recover the balance of such rent and/or additional rent or to pursue any tenant other remedy provided in this Lease and/or under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationapplicable law.

Appears in 1 contract

Samples: Titan Exploration Inc

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount amounts set forth on the first page of all base this Lease. Tenant promises to pay to Landlord in advance, without demand, deduction or fixed rent payable pursuant to the Leases and all Additional Rents (collectivelyset-off, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made monthly installments of Base Rent on or before the Closing first business day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, Tenant to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord hereunder shall be promptly remitted payable at such address as Landlord may specify from time to Purchasertime by written notice delivered in accordance herewith. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations and shall constitute rent. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due Seller for period attributable to Seller’s ownership of the Property; hereunder except where expressly provided in this Lease, and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted excused from paying any rent due hereunder for any reason whatsoever, except as expressly set forth to commence or pursue the contrary in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any legal proceedings against any tenant seeking eviction rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such tenant costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, estimated Operating Expenses or the termination other sums due and payable hereunder for more than five (5) days, Tenant shall pay to Landlord on demand a late charge equal to five percent (5%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargescosts that Landlord will incur by reason of such late payment by Xxxxxx. The provisions of this Section 14.5 late charge shall survive the Closing be deemed to be rent, and the delivery right to require it shall be in addition to all of any conveyance documentationLandlord’s other rights and remedies for a payment failure of Tenant, including the right to charge interest on the past due amount.

Appears in 1 contract

Samples: Lease Agreement (SolarMax Technology, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “set forth above. The first month's Base Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off (except as otherwise set forth in the Lease), monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except where expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent beyond 10 days after the due date thereof, and after notice as provided below, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 10 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence required more than twice in any 12-month period or pursue any legal proceedings against any tenant seeking eviction of such tenant or four times over the termination term of the underlying Lease. “Additional Rents” The provision for such late charge shall mean be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as a penalty or as limiting Landlord's remedies in any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationmanner.

Appears in 1 contract

Samples: Lease Agreement (Graham Field Health Products Inc)

Base Rent. Purchaser will receive a credit at Closing for Tenant covenants to pay to Landlord, without notice, deduction, set-off or abatement of any kind, the prorated amount Base Rent in lawful money of all base or fixed rent payable pursuant to the Leases United States in consecutive monthly installments in advance commencing on the Commencement Date and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made thereafter on or before the Closing Datefirst day of each month during the term of the Lease. Delinquent Base Rent, Additional Rent defined below, and all other amounts due from Tenant under this Lease shall collectively be referred to as "Rent". Rent shall be payable to Landlord at Landlord's address shown at Paragraph 1.01 or such other place as Landlord may designate from time to time in writing. Anything to the contrary contained in this Lease notwithstanding, if the Commencement Date is other than the first day of a calendar month, the Base Rent and Additional Rent for such month shall be prorated on a per diem basis and the prorated Rent for such month, as well as the first full calendar month's Rent, shall be paid on or before the first day of the first full calendar month of the term of the Lease. The obligation to pay Rent hereunder is independent of each and every other term, covenant, and condition contained in this Lease. It is the practice, but not the obligation, of Landlord to submit to Tenant a statement for Rent due under the terms of this Lease. However, if Landlord fails to deliver such statement or discontinues such practice for any reason, it shall not be prorated at Closing. All deemed or construed to relieve Tenant of the obligation to pay Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; providedamounts, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent manner and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be time required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationhereunder.

Appears in 1 contract

Samples: Office Lease (Ebix Com Inc)

Base Rent. Purchaser will receive a credit Tenant shall pay, without notice or demand, to Landlord or Landlord’s agent at Closing for the prorated amount management office of all the Building, or at such other place as Landlord may from time to time designate in writing, monthly installments of base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 8 of the Summary, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made in advance on or before the Closing Datefirst day of each and every month during the Lease Term, without any setoff or deduction whatsoever. Delinquent Notwithstanding anything to the contrary contained herein, and provided that Tenant is not in monetary or material default beyond any applicable notice, grace or cure period, Landlord hereby agrees to xxxxx Tenant’s obligation to pay monthly Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which first six (6) full months of the Closing Date occurs (the “Closing Month”)initial Lease Term. During such abatement periods, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller Tenant shall still be responsible for the period prior payment of all of its other monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser the provisions of Section 19.1 of this Lease, then as a part of the recovery set forth in Section 20 of this Lease, Landlord shall be promptly remitted entitled to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course recovery of its business; provided, however, that Seller hereby retains the right to pursue any tenant monthly Base Rent abated under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive Article 3 pro-rated to take into account that portion of time the Closing and Lease was in effect. The Base Rent for the delivery first full month of the Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any conveyance documentationfree rent period) shall Health Management Systems Corporate Point be paid at the time of Tenant’s execution of this Lease. If any rental or other payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental or other payment is for a period which is shorter than one month, then the rental or other payment for any such fractional month shall be a proportionate amount of a full calendar month’s rental or other payment based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs.

Appears in 1 contract

Samples: Office Lease (HMS Holdings Corp)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any defense, counterclaim, setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or fixed rent materials furnished by Landlord at Tenant's request), all of which hereinafter may be collectively called "Rent." In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable pursuant to in advance in monthly installments on the Leases first day of each calendar month during the Lease Term and all Additional Rents (collectively, “Rent”) previously paid to, any extensions or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Daterenewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. No payment thereof has not been made by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or before statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the Closing Datebalance or pursue any other available remedy. Delinquent The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be prorated at Closingconstrued to be a waiver of Landlord's right to declare a default for any other late payment. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant's covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Lease (MRS Fields Financing Co Inc)

Base Rent. Purchaser will receive Tenant shall pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or at such other place as Landlord may from time to time designate in writing, in currency or a credit check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 6 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 6 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every month during the Lease Term, without any setoff or any deduction whatsoever. The Base Rent for the seventh (7th) full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease by certified or cashier’s check. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, then the Rent for any such fractional month shall be a proportionate amount of a full calendar month’s Rent based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. Delinquent Rent All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall not be prorated at Closingon the same basis. All Rent collected payments received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant shall be applied as follows: (i) firstapplied, if Landlord elects in its sole discretion, to Delinquent Rent the oldest payment obligation owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, by Tenant to any accrued Rents owing to PurchaserLandlord, and (iii) thirdno designation by Tenant, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser either in a separate writing or on a check or money order, shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue modify this clause or have any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence force or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationeffect.

Appears in 1 contract

Samples: Office Lease (Doma Holdings, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth in Addendum 1. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in writing) shall be made by check, or by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern Time at such place, within the continental United States, as Landlord may from time to time designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of Operating Expenses beyond 5 days after the due date thereof, and after notice as provided below, Tenant shall pay to Landlord on demand a late charge equal to 8 percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence or pursue required more than twice in any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass12-through charges and any other tenant chargesmonth period. The provisions provision for such late charge shall be in addition to all of this Section 14.5 Landlord's other rights and remedies hereunder or at law and shall survive the Closing and the delivery of not be construed as a penalty or as limiting Landlord's remedies in any conveyance documentationmanner.

Appears in 1 contract

Samples: Lease Agreement (ShoreTel Inc)

Base Rent. Purchaser will receive a credit at Closing for Commencing on the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Rent Commencement Date, and payment thereof has not been continuing --------- thereafter throughout the Initial Term of this Lease, Tenant hereby agrees to pay to Landlord for the Demised Premises, without offset or deduction (except as may be expressly provided in this Lease), and without previous demand therefor, base rent ("Base Rent") in the amount set forth on Exhibit "D" attached hereto ----------- and by reference made on or before the Closing Datea part hereof. Delinquent All Base Rent shall not be payable by Tenant in monthly installments and shall be due and payable by Tenant in advance on the first day of each and every calendar month. In the event that the Rent Commencement Date occurs on other than the first calendar day of a month, or if the last day of the term of this Lease is other than the last calendar day of a month, the Base Rent due under this Lease for the first and/or last month, as the case may be, shall be prorated at Closingon a daily basis. All Base Rent collected and other amounts payable by Purchaser Tenant to Landlord under this Lease shall be paid at Landlord's address for notices as set forth herein, or Seller at such other place as Landlord may from each tenant from time to time designate by written notice to Tenant. All payments of rent or other amounts required to be made to Landlord shall be in lawful money of the United States of America, which may be paid by check, subject to collection. No payment by Tenant or receipt by Landlord of a lesser amount than the rent herein specified, nor any endorsement or statement on any check or letter accompanying such check, shall be deemed an accord and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchasersatisfaction, and (iii) third, Landlord may accept such check or payment without prejudice to Delinquent Rents owing Landlord's right to Seller for recover the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course balance of its business; provided, however, that Seller hereby retains the right such rent or to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and remedy provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)

Base Rent. Purchaser will receive a credit at Closing for Commencing as of the prorated amount of all base or fixed rent payable Expanded Premises Commencement Date and continuing throughout the Lease Term as extended pursuant to the Leases and all Additional Rents definition of Lease Expiration Date set forth in Section 9.4 of the Original Summary, as modified in Clause (collectivelya) of Section 1 of this Third Amendment above, “Rent”Tenant shall pay, in accordance with the provisions of this Section 5, Base Rent for the entire Premises (i.e., the Existing Premises as expanded by the Expansion Space) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (ia) firstprior to the Expanded Premises Commencement Date, Tenant shall pay to Delinquent Landlord the monthly installments of Base Rent owed attributable to the Existing Premises, at the applicable rate set forth in Section 10 of the Original Summary (as modified by Clause (b) of Section 1 of this Third Amendment above) and (b) commencing on the Expanded Space Commencement Date, and continuing thereafter until the Lease Expiration Date set forth in Clause (a) of Section 1 of this Third Amendment above, Tenant shall pay the monthly installments of Base Rent in the amounts set forth in Section 10 of the Original Summary as modified by Clause (b) of Section 1 of this Third Amendment above (with any partial month of Base Rent for the Existing Premises and the Existing Premises as expanded by the Expansion Space for the calendar month in which the Closing Expanded Premises Commencement Date occurs to be prorated, if at all, in accordance with Section 3.1 of the Original Lease). Tenant’s abatement of Base Rent for months 29 and 30 of the initial Lease Term of the Lease (as set forth in Section 9 of the “Closing Month”Original Summary and without regard to the Second Amendment or this Third Amendment) shall apply to Base Rent payable for the Existing Premises only during such months, regardless of whether the Expanded Premises Commencement Date occurs prior to the 29th month of the Lease Term (as set forth in Section 9 of the Original Summary and without regard to the Second Amendment or this Third Amendment), (ii) second, . Landlord and tenant hereby agree that the rent abatement contained in Section 3.2 of the Original Lease shall not apply to any accrued Rents owing to Purchaserthe Expansion Space, and (iii) third, to Delinquent Rents owing to Seller for that the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course amortization of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) abated rent shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or modified by the termination extension of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of Lease Term pursuant to this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationThird Amendment.

Appears in 1 contract

Samples: Lease (GenMark Diagnostics, Inc.)

Base Rent. Purchaser will receive a credit at Closing Tenant shall pay to Landlord the sum of TWO HUNDRED FORTY THOUSAND and No/100 Dollars ($240,000.00) per annum as the "Base Rent" due for the Term; which amount shall be payable in equal monthly installments of TWENTY THOUSAND and No/100 Dollars ($20,000.00). If the Term does not begin on the first day or end on the last day of a calendar month, then the Base Rent for that partial month shall be prorated amount by multiplying the monthly Base Rent by a fraction, the numerator of all base or fixed rent payable pursuant to which is the Leases number of days of the partial month included in the Term and all Additional Rents (collectivelythe denominator of which is the total number of days in the full calendar month. The Base Rent shall be paid in advance on the first day of each calendar month during the Term without advance notice, “Rent”) previously paid todemand, offset, or collected bydeduction, Seller unless such offset or deduction is made by Tenant as expressly permitted in this Lease or to recover any unpaid (non-appealable) arbitration award or court judgment Tenant has against Landlord. All Base Rent and attributable Additional Rent (defined below) shall be paid to Landlord at the address specified in this Lease for any period following the Closing Datenotice to be given hereunder, or as Landlord may otherwise specify in writing to Tenant. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent The Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied subject to adjustment as follows: Beginning as of the Commencement Date, each successive twelve (12) full calendar month period of the Term shall be deemed to be a "Lease Year"; provided that should the Term commence on a date other than the first day of a calendar month, the first Lease Year shall also include the partial calendar month of the Commencement Date; and further provided that the last Lease Year shall end as of the Expiration Date or earlier termination date of this Lease. Commencing as of the second Lease Year and continuing for each Lease Year of the Term, the annual Base Rent shall be increased each Lease Year to an amount equal to One Hundred Two and 50/100 Percent (102.5%) of the Base Rent payable during the prior Lease Year. (i.e. The Base Rent payable during the ensuing Lease Year shall be determined by multiplying the Base Rent payable during the prior Lease Year by a factor of 102.5.) If any Lease Year is less than twelve (12) calendar months, the Base Rent due for that Lease Year shall be prorated on a monthly basis. Notwithstanding any provision of this Lease to the contrary, the Base Rent due hereunder shall be reduced as follows: The Base Rent installments due for the first three (3) full calendar months of the initial Term shall be abated in full. Subject to the three (3) month full abatement set forth in (i) firstabove, to Delinquent the Base Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller due for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser from the Commencement Date through the end of the fifth (5th) full calendar month of the initial Term, shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller based on an annual Base Rent in the ordinary course amount of its business; providedOne Hundred Fifty Thousand and No/100 Dollars ($150,000.00), however, that Seller hereby retains and therefore payable in monthly installments of $12,500.00 (which amount reflects payment of rent on approximately 15,000 square feet of net rentable floor area). The Base Rent due from the right to pursue any tenant under beginning of sixth (6th) through the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership end of the Property; and provided further, however, Seller ninth (i9th) full calendar months of the initial Term shall be required to notify Purchaser based on an annual Base Rent in writing the amount of Seller’s intention to commence or pursue any legal proceedings; TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($200,000.00), and therefore payable in monthly installments of $16,667.00 (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction which amount reflects payment of such tenant or the termination rent on approximately 20,000 square feet of net rentable floor area). Beginning as of the underlying Lease. “Additional Rents” tenth (10th) full calendar month of the initial Term, the Base Rent shall mean any and all be due in the amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions as otherwise set forth above (which amount reflects payment of this Section 14.5 shall survive the Closing and the delivery rent on approximately 24,000 square feet of any conveyance documentationnet rentable floor area).

Appears in 1 contract

Samples: Office Lease Agreement (E Loan Inc)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for Agreement of Purchase and Sale — 1000 Xxxxxxxx Xxxxxx Xxxxx Xx. Prospect IL(7) operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Northfield Laboratories Inc /De/)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month’s Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and, except as otherwise set forth in this Lease, Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in writing) shall be made by check or Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern Time, at such place, within the continental United States, as Landlord may from time to time designate to Tenant in writing. Except as otherwise set forth herein, the obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Landlord shall not be required to notify Purchaser give such notices more than twice in writing any calendar year or 4 times over the term of Sellerthe Lease. The provision for such late charge shall be in addition to all of Landlord’s intention to commence other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 1 contract

Samples: Lease Agreement (Ikanos Communications)

Base Rent. Purchaser will receive a credit at Closing for In consideration of the prorated amount lease of all base or fixed rent payable the Premises pursuant to this Lease, Tenant shall pay Base Rent in the Leases and all Additional Rents applicable amount set forth in Article I payable in equal monthly installments of one-twelfth of the annual Base Rent, which shall be paid without offset or deduction for any reason (collectivelyexcept as otherwise expressly provided in this Lease), “Rent”) previously paid toin advance, or collected byon the first day of each calendar month during the Term hereof, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior subject to the Closing following, and also on the Term Commencement Date, and payment thereof has not been made should it be on or before any day other than a first day of the Closing Date. Delinquent month, a proportionate part of the monthly Base Rent shall not be prorated at Closingpaid for such month. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: Notwithstanding the foregoing, Tenant shall (i) first, have no obligation to Delinquent pay Base Rent owed for that would otherwise be payable during the month in which first five (5) months of the Closing Date occurs Lease Term (the “Closing MonthInitial Free Rent Period”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction receive an abatement of such tenant or the termination fifty percent (50%) of the underlying Leasenext successive thirteen (13) months of Base Rent that would otherwise be payable during the next successive thirteen (13) months of the Lease Term (the “Partial Rent Abatement Period”). During the Initial Free Rent Period, the free rent set forth above is for Base Rent and Additional Rent for Taxes and/or Operating Costs; provided that in all events Tenant shall pay the cost of utilities supplied to the Premises during the Initial Free Rent Period and for any services directly contracted for by the Tenant. During the Partial Rent Abatement Period, the rent abatement set forth above is for Base Rent only and Tenant shall pay all Additional Rent, including but not limited to Additional Rent for Taxes and/or Operating Costs, and for the cost of utilities supplied to the Premises during the Partial Rent Abatement Period and for any services directly contracted for by the Tenant. Base Rent and Additional Rent shall be paid when due hereunder either (a) by wire transfer and/or an Additional Rentselectronic funds transfersystem (“EFT”) arranged by and among Tenant, Tenant’s bank and Landlord with Tenant submitting to Landlord at the time of Tenant’s execution and delivery of this Lease to Landlord a completed ACH electronic fund transfer form similar to the one attached hereto as Exhibit D and sufficient to allow Landlord to make such transfers, or (b) by check sent to Landlord’s office at Landlord’s Address or at such other place as Landlord shall mean any and all amounts due from tenants for operating expensestime to time designate in writing. If Tenant is using checks, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesrent checks shall be made payable to or as Landlord may designate from time to time in writing. The provisions of parties hereto acknowledge and agree that the obligations owing by Tenant under this Section 14.5 shall survive are rent reserved under this Lease, for all purposes hereunder, and are rent reserved within the Closing and meaning of Section 502(b)(6) of the delivery of Bankruptcy Code or any conveyance documentationsuccessor provision thereto.

Appears in 1 contract

Samples: Lease Agreement (Quanterix Corp)

Base Rent. Purchaser will receive a credit at Closing RESIDENT shall pay to LANDLORD $ for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents rental (collectively, Base Rent”) previously of the Premises only, without deduction, which amount shall be paid toin equal installments of $ , or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closingfirst day of each month during the term of this Lease. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstrents, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant applicable fees, shall be paid in full and for the exact amounts due by personal check (cash payments are not allowed), with the permission of LANDLORD, or by money order, to the LANDLORD at the LANDLORD Office as above written. Partial payments will be accepted at the sole discretion of the LANDLORD. The prorated rental from the date of move-in to the first day of the following month is $ . Resident hereby agrees to timely pay the base rent charges, which shall be collectible by LANDLORD as part of the Rent due under this Lease: If LANDLORD shall institute a summary proceedings action against RESIDENT based on a default in the payment of rent, then RESIDENT shall reimburse LANDLORD as such may be allowed by statute for the expenses incurred by LANDLORD, and that so long as the resident shall be a RESIDENT hereunder, the amount of such expenses shall be deemed to be additional rent and shall be due from the RESIDENT to the LANDLORD on the first day of the month following the incurring of such respective expenses. RESIDENT shall also pay to LANDLORD estimated property tax and insurance charges. The provisions Insurance charges paid by RESIDENT may at LANDLORD’S discretion include a portion of this Section 14.5 LANDLORD’S liability insurance premium that LANDLORD in its sole judgment deems attributable to the leased Premises. RESIDENT will only pay property taxes and insurance attributable to the leased Premises. Insurance proceeds shall survive be solely for the Closing benefit of LANDLORD. RESIDENT WILL NOT BE INSURED IN ANY MANNER AGAINST LOSS OR OTHERWISE NOR WILL RESIDENT RECEIVE ANY BENEFIT OR PROCEEDS FROM INSURANCE DESCRIBED IN THIS SECTION. At its discretion LANDLORD may reconcile and revise the delivery monthly payment amounts owed by RESIDENT. RESIDENT will immediately comply with revised monthly payment totals for estimated property taxes and insurance. RESIDENT shall pay within ninety (90) days any additional property tax or insurance charges requested by LANDLORD after being provided with a reconciliation of any conveyance documentation.such charges. RESIDENT shall have no right to audit, review, or request clarification of estimated charges. RESIDENT’S initial estimated charges as following: Monthly Insurance: Monthly Property Taxes:

Appears in 1 contract

Samples: Lease Purchase Agreement

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth on the first page of all base or fixed rent payable pursuant to this Lease. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, Tenant to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord hereunder shall be promptly remitted payable at such address as Landlord may specify from time to Purchasertime by written notice delivered in accordance herewith. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due Seller hereunder except where expressly provided in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for period attributable more than TEN (10) days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to five percent (5%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the Property; and provided further, however, Seller (i) costs that Landlord will incur by reason of such late payment by Tenant. The provision for such late charge shall be required in addition to notify Purchaser in writing all of Seller’s intention to commence Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 1 contract

Samples: Lease Agreement (Interphase Corp)

Base Rent. Purchaser will receive a credit Tenant agrees to pay monthly as base rent during the term of this lease the sum of money set forth in Section 1.4 of this Lease, which amount shall be payable to Landlord at Closing the address shown above. One monthly installment of rent shall be due and payable on the date of execution of this Lease by Tenant for the prorated amount of all base or fixed first month's rent and a like monthly installment shall be due and payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date. Delinquent Rent , this Lease shall not be prorated at Closingvoid or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent shall be abated until Landlord delivers possession. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstbase rent, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent additional rent and other sums due Seller for period attributable payable by Tenant pursuant to Seller’s ownership of the Property; this Lease are payable without demand and provided furtherwithout any reduction, howeverabatement, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence counterclaims or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsetoff.

Appears in 1 contract

Samples: Lease Agreement (Thermoview Industries Inc)

Base Rent. Purchaser will receive a credit at Closing for (a) During the prorated amount of all base or Original Lease Term and each Renewal Term, if applicable, Tenant shall pay to Landlord annual fixed rent payable pursuant (the "Annual Base Rent") in an amount equal to the Leases and all Additional Rents Fair Market Rent (collectively, “Rent”as hereinafter defined) previously paid to, or collected by, Seller and attributable to any period following as of the Closing date (the "Rent Appraisal Date. Rents are “Delinquent” when they were due ") which is not less than sixty (60) days prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstthe Commencement Date, with respect to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”)Original Lease Term, (ii) secondthe commencement of the First Renewal Term, with respect to any accrued Rents owing to Purchaserthe First Renewal Term, and (iii) thirdthe commencement of the Second Renewal Term, with respect to Delinquent Rents owing the Second Renewal Term. The Annual Base Rent shall be payable in monthly installments, in advance, on the first day of each and every calendar month during the Lease Term and each Renewal Term, if applicable, without notice or demand and without any set-off, abatement or deduction whatsoever, at the office of Landlord stated in Section 1, or at such other place as Landlord may designate from time to Seller time in writing. The first monthly installment of Annual Base Rent shall be due and payable at the time of the execution of this Lease. Such first monthly installment of Annual Base Rent shall be in the amount due for the period prior to Closingfirst month of the Original Lease Term. Any The first monthly installment of Annual Base Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchasercredited by Landlord against the first monthly installment of Annual Base Rent due during the Lease Term. Purchaser If the Lease Term shall use reasonable efforts to collect Delinquent Rents owed to Seller in commence on a day other than the ordinary course first day of its business; provideda calendar month, howeveror shall end on other than the last day of a calendar month, that Seller hereby retains then the right to pursue any tenant under the Leases monthly installment of Annual Base Rent due for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) such partial month shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and passpro-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationrated.

Appears in 1 contract

Samples: And Option Agreement (Ha Lo Industries Inc)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay to Landlord in lawful United States currency the prorated amount of all base or fixed rent Base Rent. All Base Rent shall be payable pursuant to in equal monthly installments, in advance, beginning on the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Commencement Date, and payment thereof has not been made continuing on or before the Closing Datefirst day of each and every calendar month thereafter during the Lease Term. Delinquent Should the Commencement Date fall on a day other than the first day of the month, then Tenant shall pay Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from for the fractional month commencing on the Commencement Date and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for ending on the last day of the month in which the Closing Commencement Date occurs on a per diem basis (calculated on the “Closing Month”basis of a thirty-day month), (ii) secondpayable upon occupancy of the Premises by Tenant. The Rent payment due under this Lease for any other fractional month shall likewise be calculated and paid on such a per diem basis. All Rent, to any accrued Rents owing to PurchaserAdditional Rent, and (iii) third, other payments to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord under this Lease shall be promptly remitted paid to PurchaserLandlord, without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at: Highwoods/Florida Holdings, L.P., X.X. Xxx 000000 Xxxxxxx, Xxxxxxx 00000-0000 Attn: Bay Vista Gardens II or at such other place as Landlord shall designate in writing to Tenant. Purchaser shall use reasonable efforts Tenant’s obligations to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Rent and other sums amounts due Seller for period attributable to Seller’s ownership under this Lease are covenants independent of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of SellerLandlord’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying obligations under this Lease. “Additional Rents” shall mean any One month’s rent plus applicable sales tax in the amount of $14,043.75 is due and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions payable by Tenant to Landlord upon Tenant’s execution of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationLease.

Appears in 1 contract

Samples: Commencement Agreement and Lease (Digital Lightwave Inc)

Base Rent. Purchaser will receive a credit at Closing Tenant shall pay to Landlord, as rent for the prorated amount Premises, in advance, on the first day of all base or fixed rent payable pursuant each calendar month, commencing on the Commencement Date (but subject to the Leases Base Rent conditional abatement referred to in Paragraph 1.10 above) and all Additional Rents continuing throughout the Lease Term, the Base Rent set forth in Paragraph 1.10 above (collectivelyand Paragraph 3.3 above, if applicable). Base Rent shall be prorated, based on thirty (30) days per month, for any partial month during the Lease Term. Base Rent shall be payable, except as otherwise expressly set forth in this Lease, without deduction, offset, prior notice or demand in lawful money of the United States to Landlord at the address herein specified for purposes of notice or to such other persons or such other places as Landlord may designate in writing. Notwithstanding the foregoing, at Tenant’s request Landlord shall provide Landlord’s banking information (RentLandlord’s ACH Account Information”) previously so that Tenant can pay Base Rent and Additional Rent (as defined below) by Electronic Funds Transfer (EFT) as an Automated Clearing House (“ACH”) transaction. Any such ACH transfers shall be paid toby Tenant, from Tenant’s account in a bank or collected byfinancial institution designated by Tenant and credited to Landlord’s bank account as Landlord shall have designated in Landlord’s ACH Account Information. Tenant shall not be in default of Tenant’s obligation to pay Base Rent and/or Additional Rent if and for so long as Tenant shall timely comply with ACH transfer requirements and accurately state Landlord’s ACH Account Information. However, Seller if Tenant shall have timely complied with ACH transfer requirements, but the applicable funds shall thereafter have been misdirected or not accounted for properly by the recipient bank designated by Landlord, then Tenant shall reasonably cooperate with Landlord in an effort to recover the misdirected funds and attributable the same shall not relieve Tenant’s obligation to make the payment so transferred (but Tenant shall not be required to be out-of-pocket the applicable payment amount in a duplicate amount due to such misdirected payment or payment not accounted for properly by the recipient bank), but shall toll the due date for such payment until the applicable funds shall have been located and deposited in Landlord’s bank account. In the event that Landlord elects to designate a different bank or financial institution into which any period following ACH transfer is to be deposited, written notification of such change and the Closing Date. Rents are “Delinquent” when they were due required documents, instruments, authorizations, and any modified Landlord’s ACH Account Information, must be delivered to Tenant no later than 30 days prior to the Closing Date, and payment thereof has not been made on or before date such change is to become effective. Tenant shall make a verbal confirmation with the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied Landlord party identified in Paragraph 1.14 of this Lease (who is Xxxx Xxxxxx as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (idate of execution of this Lease) shall be required upon receiving the initial ACH or new ACH account information to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or verify the termination accuracy of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsame.

Appears in 1 contract

Samples: Lease Agreement (Rambus Inc)

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Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent set forth in Addendum I. The fifth month’s Base Rent and Security Deposit shall be due and payable pursuant to on the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Datedate hereof, and payment thereof has not been made Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in writing) shall be made, at such place, within the continental United States, as Landlord may from time to time designate to Tenant in writing. Except as otherwise provided herein, the obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Excess Operating Expenses (as hereinafter defined) for more than 5 days, and after notice as provided below, Tenant shall pay to Landlord on demand a late charge equal to five (5.0%) percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant five (5) days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence or pursue required more than twice in any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass12-through charges and any other tenant chargesmonth period. The provisions provision for such late charge shall be in addition to all of this Section 14.5 Landlord’s other rights and remedies hereunder or at law and shall survive the Closing and the delivery of not be construed as a penalty or as limiting Landlord’s remedies in any conveyance documentationmanner.

Appears in 1 contract

Samples: Lease Agreement (Restoration Hardware Inc)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount Lessee shall pay Base Rent, Lessee's Share of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateOperating Expenses, and payment thereof has not been made 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 Closing Dateday on which it is due under the terms of this Lease. Delinquent Base Rent and all other rent and charges for any period during the term hereof which is for less than one full month shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for based upon the actual number of days of the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, involved. Payment of Base Rent and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser other charges shall be promptly remitted made to Purchaser. Purchaser shall use reasonable efforts Lessor at its address stated herein or to collect Delinquent Rents owed such other persons or at such other addresses as Lessor may from time to Seller time designate in the ordinary course of its businesswriting to Lessee; provided, howeverLessor has given Lessee Notice of Default or Breach (as those terms are defined in Paragraph 13.1) in the payment of Base Rent, that Seller hereby retains Operating Expenses or any other charges due hereunder, and such notice designates therein a new place and/or manner of making such payments, then, effective immediately upon the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership giving of the Property; and provided furthersuch Notice of Default or Breach, however, Seller (i) all subsequent payments shall be required made in the manner and at such place as Lessor shall designate in said notice until such time as the Default or Breach has been fully cured to notify Purchaser Lessor's satisfaction. In such event, payments made in writing of Seller’s intention to commence any manner or pursue at any legal proceedings; and place other than what is designated in such notice (iia) shall not be permitted deemed to commence have been legally tendered to or pursue accepted by Lessor, (b) shall not constitute nor in any legal proceedings against way be construed as an accord and satisfaction or as a wavier by Lessor of any tenant seeking eviction of its rights or remedies hereunder or at law or in equity (whether statutory or otherwise) arising as a result of such tenant Default or the termination Breach, and (c) shall not be used to defeat or otherwise affect in any way any of Lessor's remedies to recover possession of the underlying LeasePremises including, but not limited to, any forcible entry and/or detainer action theretofore or thereafter commenced by Lessor relative to such Default or Breach. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.4.2

Appears in 1 contract

Samples: Digital Bridge Inc

Base Rent. Purchaser will receive a credit at Closing for (a) Tenant shall pay Base Rent in the prorated amount set forth on the first page of all base or fixed rent this Lease. The fourth month’s Base Rent and the Security Deposit, shall be due and payable on the earlier of (i) date Tenant first enters the Premises pursuant to Exhibit G or (ii) the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable date the Premises are delivered to any period following the Closing Date. Rents are “Delinquent” when they were due prior Tenant pursuant to the Closing DateExhibit C, and payment thereof has not been made Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, Tenant to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord hereunder shall be promptly remitted payable at such address as Landlord may specify from time to Purchasertime by written notice delivered in accordance herewith. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due Seller hereunder except where expressly provided in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for period attributable more than five (5) days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to $5,000.00. The parties agree that such late charge represents a fair and reasonable estimate of the Property; and provided further, however, Seller (i) costs that Landlord will incur by reason of such late payment by Tenant. The provision for such late charge shall be required in addition to notify Purchaser in writing all of SellerLandlord’s intention to commence other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 1 contract

Samples: Part of Lease Agreement (Intcomex Holdings, LLC)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay monthly Base Rent in the prorated amount amounts set forth on the first page of all base this Lease. The Prepaid Rent (as set forth in the Basic Lease Provisions above) shall be due and payable upon Tenant's execution and delivery of this Lease (and shall be applied against Base Rent and Operating Expenses first coming due under this Lease). Tenant promises to pay to Landlord in advance, without demand, deduction or fixed rent payable pursuant to the Leases and all Additional Rents set-off (collectivelyexcept as otherwise expressly set forth in this Lease), “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations and shall constitute rent. Tenant shall have no right at any time to xxxxx, reduce, or set- off any rent due hereunder except where expressly provided in this Lease and shall not be prorated at Closingexcused from paying any rent due hereunder for any reason whatsoever, except as expressly set forth to the contrary in this Lease. All Rent collected Tenant acknowledges that late payment by Purchaser Tenant to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, estimated Operating Expenses or Seller from each tenant from other sums due and payable hereunder for more than five (5) days, Tenant shall pay to Landlord within thirty (30) days after Closing will be applied as follows: receipt of written demand a late charge equal to five percent (i5%) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businesssuch delinquent sum; provided, however, that Seller hereby retains no late charge shall be imposed with respect to the first (1st) late payment of rent in any twelve (12)- month period unless such failure shall continue for more than five (5) business days after notice from Landlord. The parties agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of such late payment by Tenant. The late charge shall be deemed to be rent, and the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) require it shall be required in addition to notify Purchaser in writing all of Seller’s intention Landlord's other rights and remedies for a payment failure of Tenant, including the right to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or charge interest on the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts past due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationamount.

Appears in 1 contract

Samples: Lease Agreement (Bloom Energy Corp)

Base Rent. Purchaser will receive Tenant shall pay, without prior notice or demand, to Landlord or Landlord's agent at the address set forth in Section 4.2 of the Summary, or, at Landlord's option, at such other place as Landlord may from time to time designate by delivering written notice to Tenant at Tenant's notice address as set forth herein, by a credit check or wire transfer for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent ("Base Rent") as set forth in Section 4 of the Summary, payable pursuant to in equal monthly installments as set forth in Section 4 of the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant's execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/360 of the applicable annual Rent. Delinquent It is intended that this Lease be a "triple net lease," and that the Rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable. Except as expressly provided to the contrary in this Lease, Landlord shall not be prorated at Closingrequired to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises, Building or Project. All Rent collected by Purchaser other payments or Seller from each tenant from and after Closing will adjustments required to be applied as follows: (i) first, to Delinquent Rent owed for made under the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser terms of this Lease that require proration on a time basis shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in prorated on the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationsame basis.

Appears in 1 contract

Samples: Office Lease (Collectors Universe Inc)

Base Rent. Purchaser will receive Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a credit wire transfer of immediately available funds or a check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing first day of each and every calendar month during the Lease Term, without any setoff or deduction except as expressly provided for in this Lease. The Base Rent for the first full calendar month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If the Lease Commencement Date is not the first day of a month, Rent for the partial month commencing as of the Lease Commencement Date shall be prorated based upon the actual number of days in such month and shall be due and payable upon the Lease Commencement Date. Delinquent Rent All other payments required to be made under this Lease that require proration on a time basis shall not also be prorated at Closingbased upon the actual number of days in such month. All Notwithstanding anything to the contrary contained herein and provided that Tenant is not in then default under this Lease after expiration of applicable cure periods, Landlord hereby agrees to xxxxx Tenant’s obligation to pay Base Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which second (2nd) through and including the Closing Date occurs seventh (7th) full calendar months of the Lease Term. Such abated Base Rent may be referred to herein as the “Closing Month”)Abated Rent.” During such abatement period, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller Tenant shall still be responsible for the period prior payment of all of its other monetary obligations under this Lease including, without limitation, any obligations to Closingpay Additional Rent. Any Rent collected In the event of a default by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Tenant under the terms of this Lease that results in early termination of this Lease, then as a part of the recovery set forth in Section 19.2 below, Landlord shall be promptly remitted entitled to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership recovery of the Property; and provided further, however, Seller (i) unamortized portion of the Abated Rent. Amortization pursuant to the immediately preceding sentences shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and calculated on an eighty-four (ii84) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination month amortization schedule commencing as of the underlying Lease. “Additional Rents” shall mean any Lease Commencement Date based upon equal monthly payments of principal and all amounts due from tenants for operating expensesinterest, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions with interest imputed on the outstanding principal balance at the rate of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationeight percent (8%) per annum.

Appears in 1 contract

Samples: Lease (Ligand Pharmaceuticals Inc)

Base Rent. Purchaser will receive a credit The Tenant shall pay the Landlord base rent ("Base Rent"), as defined below, for each year of the Initial Term and Renewal Term in equal monthly payments due and payable in advance on the first day of each and every month commencing on the Lease Commencement Date. Tenant shall pay Base Rent to Landlord at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid toLandlord's address set forth above, or collected by, Seller and attributable to any period following the Closing Dateat such other place as Landlord may designate in writing. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Base Rent shall mean rent set forth in the chart below, which does not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: include (i) firstthe monthly payments toward replacement of the parking lot payable by Tenant to Landlord pursuant to Section 8, (ii) utilities paid directly by Tenant pursuant to Delinquent Rent owed for the month Section 9, (iii) Real Estate Taxes payable by Tenant to Landlord pursuant to Section 10, and (iv) Property Insurance Premiums payable by Tenant to Landlord pursuant to Section 11(a), those expenses described in which the Closing Date occurs clauses (the “Closing Month”i), (ii) second), to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller (iv) and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller from Tenant hereunder, other than Base Rent shall hereinafter be referred to as "Additional Rent" and Base Rent and Additional Rent are hereinafter referred to collectively as "Rent." Any failure by Tenant to pay Additional Rent shall be deemed a failure to pay Base Rent. In the event that (a) any payment of monthly Base Rent shall be paid more than five (5) business days after the due date for period attributable same, or (b) any Additional Rent is not paid within ten (10) business days after Tenant's receipt of an invoice therefor accompanied by reasonable supporting documentation, Tenant shall pay, together with such payment, a late charge equal to Seller’s ownership five percent (5%) of the Property; and provided furtheramount of the payment due. In addition, however, Seller all past due payments that are not paid within thirty (i30) days of the due date for same shall be required to notify Purchaser in writing bear interest from the date due through the date paid at the rate of Seller’s intention to commence or pursue any legal proceedings; and twelve percent (ii12%) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant per annum or the termination maximum lawful rate of the underlying Leaseinterest, whichever is less. “Additional Rents” shall mean any and all amounts due from tenants for operating expensesInitial Term Lease Year Annual Base Rent Monthly Base Rent May 24, common area maintenance charges2011 to May 23, taxes2012 $135,000 $11,250 May 24, shared utility charges2012 to May 23, management fees2013 $140,000 $11,667 May 24, insurance costs2013 to May 23, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.2014 $140,000 $11,667 May 24, 2014 to May 23, 2015 $140,000 $11,667 May 24, 2015 to May 23, 2016 $145,000 $12,083 May 24, 2016 to May 23, 2017 $145,000 $12,083 May 24, 2017 to May 23, 2018 $145,000 $12,083 Renewal Term Lease Year Annual Base Rent Monthly Base Rent May 24, 2018 to May 23, 2019 $147,175 $12,265 May 24, 2019 to May 23, 2020 $149,387 $12,449 May 24, 2020 to May 23, 2021 $151,624 $12,635 May 24, 2021 to May 23, 2022 $153,898 $12,825 May 24, 2022 to May 23, 2023 $156,206 $13,017

Appears in 1 contract

Samples: Lease for Real Property (Unigene Laboratories Inc)

Base Rent. Purchaser will receive a credit Tenant shall pay to Landlord at Closing for the prorated amount office of all base Landlord set forth above, or fixed rent payable pursuant at such other place as Landlord may from time to time designate in writing, the Leases and all Additional Rents annual sum stated in Exhibit B attached hereto (collectively, such annual sum being hereinafter referred to as Base Rent”) previously paid toin equal monthly installments, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made each in advance on or before the Closing Datefirst (1st) day of each and every calendar month during the Term, without any set off or deduction whatsoever. Delinquent If the Term commences other than on the first (1st) day of a calendar month or ends other than on the last day of the calendar month, the Base Rent for such month shall be prorated (with payment for the fractional month at the start of the Term being due on the date the Term commences in a pro rated amount equal to the sum set forth for month one (1) and with month one (1) as provided in Exhibit B referring to the first full month). Tenant hereby delivers to Landlord the Prepaid Base Rent (as defined in Exhibit B attached hereto) to be held by Landlord and applied towards the first installment of Base Rent payable under this Lease (except as otherwise provided in Exhibit B). If any payment or installment of Rent shall not be prorated at Closing. All Rent collected received by Purchaser or Seller from each tenant from Landlord within five (5) days of the date due then, in addition to all other rights and after Closing will remedies to which Landlord is entitled, Tenant shall also be applied responsible for and shall immediately pay Landlord, as follows: Additional Rent, a service charge equal to the greater of (i) first, a sum equal to Delinquent Rent owed for two percent (2%) of the month in amount which the Closing Date occurs (the “Closing Month”), is past due or (ii) secondseventy five dollars ($75.00), for the administrative expenses Landlord incurs as a result of the late payment. In addition to Base Rent, Tenant also agrees to pay to Landlord on the first day of each calendar month (and together with each such payment) a sum equal to any accrued Rents owing to Purchasersales tax, and (iii) thirduse tax, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; providedtax on rentals, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant governmental charges, taxes and/or impositions now in existence or hereafter imposed based upon the privilege of renting the Demised Premises and/or upon the amount of “Rent” (as defined below) collected therefor. The provisions Tenant shall also be responsible for and shall pay before delinquency all municipal, county or state taxes assessed during the Term of this Section 14.5 shall survive the Closing and the delivery Lease against any occupancy interest or personal property of any conveyance documentationkind, owned by or placed in, upon or about the Demised Premises by Tenant.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Clayton Holdings Inc)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth on the first page of all base or fixed rent payable pursuant to this Lease. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, Tenant to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord hereunder shall be promptly remitted payable at such address as Landlord may specify from time to Purchasertime by written notice delivered in accordance herewith. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abatx, xxduce, or set-off any rent due Seller hereunder except where expressly provided in this Lease. Tenant acknowledges that late payment by Tenant to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and impractical to determine. Therefore, if Tenant is delinquent in any monthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for period attributable more than five (5) days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to five percent (5%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the Property; and provided further, however, Seller (i) costs that Landlord will incur by reason of such late payment by Tenant. The provision for such late charge shall be required in addition to notify Purchaser in writing all of Seller’s intention to commence Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 1 contract

Samples: 1 Lease Agreement (Healthtronics Inc /Ga)

Base Rent. Purchaser will receive a credit Lessee agrees to pay monthly as Base Rent during the term of this Lease the sum of money set forth in Section 1.8 of this Lease, which amount shall be payable to Lessor at Closing for the prorated amount address shown in Section 1.1 above or at such address that Lessor in writing shall notify Lessee. One (1) monthly installment of all base or fixed rent shall be due and payable pursuant to upon the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Dateexecution hereof, and payment thereof has not been made a monthly installment as set out in Exhibit “C” hereof, shall be due and payable on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser first day of each calendar month thereafter during the term of this Lease, without demand offset or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businessreduction; provided, howeverif the Commencement Date should be a date other than the first (1st) day of a calendar month, the first (1st) monthly rental payment set forth above shall be prorated to the end of that Seller hereby retains calendar month, and all succeeding installments of rent shall be payable on or before the first (1st) day of each succeeding calendar month during the term of this Lease. Unless otherwise specified, Lessee shall pay as additional rent all other sums due under this Lease at the same time and in the same manner as the Base Rent due hereunder. No payment by Lessee or receipt by Lessor of a lesser amount than the monthly installment of rents herein stipulated shall be deemed to be other than a payment on account of the earliest stipulated rent and/or additional rent; nor shall any endorsement of payment on any check or any letter accompanying any check or payment as rent be deemed an accord or satisfaction and Lessor may accept such check for payment without prejudice to Lessor’s right to recover the balance of such rent and/or additional rent or to pursue any tenant other remedy provided in this Lease and/or under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationapplicable law.

Appears in 1 contract

Samples: Lease Agreement (Diamondback Energy, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts in non-Building Standard light fixtures and any other services, goods or fixed rent materials in excess of the services to be provided by Landlord hereunder that are furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent”. In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under the terms and conditions of this Lease. Any such payments shall be paid by Tenant directly to the taxing authority when due or thereafter upon demand by Landlord or, if not so paid, then concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the obligation of the Tenant to pay the Base Rent and the Additional Rent to the Landlord, pursuant to the Leases provisions of Sections 1.B. and all 1.E., above, commences on a day other than the first day of a month or, if the Lease Term terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rents (collectivelyRent for such month or months shall be prorated on a per diem basis, “Rent”) previously paid tobased on the number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or collected by, Seller statement on any check or any letter accompanying any check or payment be deemed an accord and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Datesatisfaction, and Landlord may accept such check or payment thereof has not been made without prejudice to Landlord’s right to recover the balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent on or before a date after the Closing Date. Delinquent Rent due date of such payment shall not be prorated at Closingconstrued to be a waiver of Landlord’s right to declare a default for any other late payment. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant’s covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges Base Rent and any other tenant charges. The provisions Rent may be paid via check or via electronic transfer of this Section 14.5 shall survive the Closing funds (via wire transfer or ACH transfer), and the delivery of Landlord agrees to cooperate with Tenant to provide any conveyance documentationinformation reasonably requested by Tenant in order to permit Tenant to make Rent payments in such manner.

Appears in 1 contract

Samples: Office Lease Agreement (Diamondback Energy, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Sublessee shall pay to Sublessor, each month during the prorated amount of all base Term, without notice or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Datedemand, and payment thereof has not been without any set-off, counterclaim, abatement or deduction whatsoever, Base Rent in equal monthly installments, on the first day of each and every calendar month during the Term, in lawful money of the United States of America, by check made on or before payable to Sublessor, except the Closing Date. Delinquent first full monthly installment of Base Rent shall not be prorated at Closingpaid upon execution of this Sublease. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstBase Rent, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Additional Rent and other sums and charges due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Sublessor under this Sublease shall be required paid by Sublessee at the office of Sublessor set forth above, or at such other place as Sublessor may designate, without any notice, setoff or deduction whatsoever. If the Term commences on a day other than the first day of a calendar month or terminates on a day other than the last day of a calendar month, monthly Base Rent and Additional Rent for the applicable month shall be prorated based on the number of days in such calendar month. Sublessee’s obligation to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of make such tenant or payments accruing during the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 Term hereof shall survive the Closing Expiration Date or sooner termination of this Sublease. In addition to Base Rent and Additional Rent required to be paid hereunder, Sublessee agrees to pay all invoices rendered by Underlying Landlord or Sublessor for charges incurred by Sublessor for services and materials or utilities supplied to the delivery Sublet Premises that are requested by Sublessee or that are attributable to Sublessee’s particular manner of use (for example, Sublessee shall pay the prevailing rate for after-hours HVAC requested by or used by Sublessee) (the “Special Costs”). In the event of non-payment of Additional Rent and/or Special Costs, Sublessor shall have all the rights and remedies provided for herein or the Underlying Lease in case of non-payment of Base Rent (or its equivalent term) in the Underlying Lease. If Sublessee shall fail to duly and timely pay any conveyance documentationinstallment of Base Rent or Additional Rent and/or Special Costs, Sublessee shall also pay to Sublessor a late charge(s) and interest charges due and payable from Sublessor to Underlying Landlord pursuant to the Underlying Lease, or, if no such charges are specified in the Underlying Lease, Sublessee shall pay to Sublessor a late charge of five percent (5%) of such overdue amount and interest shall accrue on said overdue amount at the rate of twelve percent (12%) per annum (or such maximum rate allowable by law) from the date such payment was due until same is paid, such interest and/or late charge to be payable as Additional Rent hereunder. The payment of such late charge and interest shall be in addition to all other rights and remedies available to Sublessor in the case of non-payment of all such amounts hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Oncocyte Corp)

Base Rent. Purchaser will receive a credit Tenant shall pay, without notice or demand, to Landlord at Closing for the prorated amount address set forth in Section 3 of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid toSummary, or collected byat such other place as Landlord may from time to time designate in writing, Seller and attributable to any period following in lawful money of the Closing Date. Rents are “Delinquent” when they were due prior to United States of America by ACH (Automated Clearing House) payment or wire transfer of funds or by check, base rent ("Base Rent") as set forth in Section 8 of the Closing DateSummary, and payment thereof has not been made payable in equal monthly installments as set forth in Section 8 of the Summary in advance on or before the Closing Datefirst day of each and every month during the Lease Term, without any setoff or deduction whatsoever, except as expressly provided in this Lease. Delinquent Concurrently with Tenant's execution of this Lease, Tenant shall deliver to Landlord an amount equal to the Base Rent shall not be prorated at Closing. All Rent collected payable by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed Tenant for the Premises for the seventh (7th) full month of the Lease Term (i.e., $271,952.00). If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. If the Closing Lease Commencement Date occurs falls on the first day of a month, the Base Rent delivered on the Effective Date shall be credited towards the first month's Base Rent (as defined in Article 4 below) payments. If the “Closing Month”)Lease Commencement Date is not on the first day of a month, (ii) secondthen, to any accrued Rents owing to Purchaseron the Lease Commencement Date, and (iii) third, to Delinquent Rents owing to Seller Tenant shall pay Base Rent for the period prior to Closing. Any from the Lease Commencement Date through the last day of the month, and the Base Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser paid in advance on the Effective Date shall be promptly remitted credited towards Base Rent for the succeeding calendar month. All other payments or adjustments required to Purchaserbe made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Purchaser Notwithstanding anything to the contrary contained herein and so long as no Event of Default exists under this Lease (beyond the expiration of all applicable notice and cure periods), Landlord hereby agrees to xxxxx Tenant's obligation to pay one hundred percent (100%) of Tenant's monthly Base Rent during the period which is the first (1st), second (2nd), third (3rd), fourth (4th), fifth (5th) and sixth (6th) full calendar months following the Lease Commencement Date (collectively the "Abated Rent"). During such abatement period, Tenant shall use reasonable efforts to collect Delinquent Rents owed to Seller in still be responsible for the ordinary course payment of all of its business; provided, however, that Seller hereby retains other monetary obligations under this Lease. In the right to pursue any tenant event of a default by Tenant under the Leases for any Rent and other sums due Seller for period attributable terms of this Lease that results in early termination pursuant to Seller’s ownership the provisions of Article 19 of this Lease, then as part of the Property; and provided furtherrecovery set forth in Article 19 of this Lease, however, Seller (i) Landlord shall be required entitled to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination recovery of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The unamortized amount of monthly Base Rent that was abated under the provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationArticle 3.

Appears in 1 contract

Samples: Attornment Agreement (Janux Therapeutics, Inc.)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount Tenant shall pay to Landlord in advance, monthly installments of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Base Rent on or before the Closing Datefirst day of each calendar month during the Term hereof in lawful money of Canada, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Delinquent Payments of Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the any fractional calendar month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted prorated. The obligation of Tenant to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any Rent (as defined below) due Seller hereunder except for period attributable to Seller’s ownership of the Property; and any abatement as may be expressly provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean Base Rent, together with any and all other amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The Tenant assumes or agrees to pay under the provisions of this Section 14.5 shall survive 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 Closing agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period, are referenced in this Lease as “Rent”. Other than Base Rent and the delivery tax upon Rent specified in Section 3(b) below, Tenant shall have no obligation to pay any amounts to Landlord hereunder for the maintenance, repair or replacement of the Project or any conveyance documentation.parts thereof (except for damage thereto caused by Tenant or any Tenant Party), or for any taxes relating thereto save and except for those other expenses specified herein as “Additional Rent”,

Appears in 1 contract

Samples: Lease Agreement (Upland Software, Inc.)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promise to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, Tenant to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord hereunder shall be promptly remitted payable at such address as Landlord may specify from time to Purchasertime by written notice delivered in accordance herewith. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abatx, xxduce, or set-off any rent due Seller hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for period attributable to Seller’s ownership of the Property; and more than 5 days after written notice (provided further, however, Seller (i) that Landlord shall not be required to notify Purchaser provide notice of monetary default more than twice in writing any 12 month period or more than four (4) times during the term of Seller’s intention the Lease, as it may be extended), Tenant shall pay to commence Landlord on demand a late charge equal to 5 percent of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 1 contract

Samples: Lease Agreement (Sterigenics International Inc)

Base Rent. Purchaser will receive Tenant covenants to pay to Landlord during the Term hereof, at Landlord’s office at the address set forth in Subsection 1(j) hereof or to such other persons or at such other places as directed from time-to-time by written notice to Tenant from Landlord, a credit at Closing for monthly rental (hereinafter referred to as the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toin the amount set forth in Subsection 1(c) hereof due and payable without demand, or collected byoffset, Seller and attributable to any period following deduction, or, except as otherwise expressly provided herein, abatement therefor, in advance on the Closing Date. Rents are “Delinquent” when they were due prior to first (1st) day of each calendar month; except that if Commencement Date occurs on a day other than the Closing Datefirst (1st) day of a calendar month, and payment thereof has not been made on or before then the Closing Date. Delinquent Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the fraction for the month in which starting with the Closing Commencement Date occurs shall be paid on such Commencement Date, prorated on the basis of a thirty (30) day month. Notwithstanding the foregoing, Tenant shall pay Base Rent (or any other amounts required hereunder) by bank wire or electronic funds transfer (Closing MonthEFT)) or Automated Clearing House (“ACH”) and Landlord shall provide Tenant with wiring instructions or other reasonably necessary information to accomplish such EFT or ACH. If any installment of Rent or any other charge due from Tenant is not received by Landlord or Landlord’s designee within three business days of when due then, at Landlord’s election and upon Landlord’s demand, Tenant shall pay to Landlord a late charge equal to five percent (ii5%) second, to any accrued Rents owing to Purchaserof such overdue amount, and (iii) third, to Delinquent Rents owing to Seller for in such event the period prior to Closing. Any Rent collected parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected reason of the late payment by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businessTenant; provided, however, that Seller hereby retains Landlord shall waive the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership imposition of the Property; and late charge for the first late payment in any twelve (12) month period during the Term provided further, however, Seller Tenant pays such overdue amounts within five (i5) shall Business Days following written notice from Landlord that such amounts are past due. No late charge may be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction imposed more than once for the same late rental payment. Acceptance of such tenant or the termination late charge by Landlord shall in no event constitute a waiver of the underlying Lease. “Additional Rents” shall mean any and all amounts due Tenant’s default with respect to such overdue amount, nor prevent Landlord from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and exercising any other tenant charges. The provisions of this Section 14.5 shall survive the Closing rights and the delivery of any conveyance documentationremedies granted to it hereunder.

Appears in 1 contract

Samples: Lease (Cerus Corp)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount amounts set forth on Addendum 4 attached hereto. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of all base or fixed rent payable pursuant to the Leases Base Rent and all Additional Rents estimated Operating Expenses (collectively, “Rent”as hereafter defined) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Commencement Date and the first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser Tenant to Landlord hereunder (or Seller to such other party as Landlord may from each tenant from and after Closing will be applied as follows: (itime to time specify in writing) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted made at the Rent Payment Address, or at such place, within the continental United States, as Landlord may from time to Purchasertime designate to Tenant in writing. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abxxx, reduce, or set-off any rent due Seller hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for period attributable more than 5 days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to 8 percent of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as a penalty. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of rent due under this Lease shall be deemed to be other than a payment on account of the Property; earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and provided furthersatisfaction, however, Seller (i) shall be required and Landlord may accept such check or payment without prejudice to notify Purchaser in writing of Seller’s intention Landlord's right to commence recover the balance or pursue any legal proceedings; and (ii) other available remedy. The acceptance by Landlord of an installment of rent on a date after the due date of such payment shall not be permitted construed to commence or pursue any legal proceedings against any tenant seeking eviction be a waiver of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants Landlord's right to declare a default for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargeslate payment. The provisions of this Section 14.5 shall survive the Closing If Tenant's payment by check is returned for non-sufficient funds or for any other reason, Landlord at its sole option may require all future payments to be made by cashier's or certified check, money order, or wire transfer, and the delivery of any conveyance documentationTenant's personal or corporate check shall no longer constitute payment thereof.

Appears in 1 contract

Samples: Lease Agreement (Optex Systems Holdings Inc)

Base Rent. Purchaser will receive a credit at Closing for Commencing on the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Rent Commencement Date, it being understood and payment thereof agreed that Tenant shall have and enjoy the Premises from the Lease Commencement Date until the Rent Commencement Date (the "Free Rent Period"} without the obligation to pay Base Rent, Tenant shall pay Base Rent in the amount set forth above. Although Tenant has not been made given the Premises free of the obligation to pay Base Rent during the Free Rent Period, Tenant shall otherwise observe, perform and obey all other obligations on its part to observe, perform and obey during such Free Rent Period. The first month's Base Rent and the first monthly installment of estimated Operating Expenses (as hereinafter defined} shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each and every calendar month for which payment is due succeeding the Rent Commencement Date. Delinquent Payments of Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) firstfor any fractional calendar month, to Delinquent Rent owed for including the month in which the Closing Rent Commencement Date occurs (the “Closing Month”)shall occur, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted prorated based upon the number of days in each such partial month. All payments required to Purchaserbe made by Tenant 'to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. Purchaser The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall use reasonable efforts have no right at any time to collect Delinquent Rents owed xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days after written notice to Seller in the ordinary course Tenant that such amount is due, Tenant shall pay to Landlord on demand a late charge equal to two and one-half percent (2.5%) of its businesssuch delinquent sum; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) no notice shall be required to notify Purchaser be given to Tenant, and such late charge shall be automatically due, if Landlord has given such notice to Tenant once in writing the preceding twelve months. The provision for such late charge shall be in addition to all of Seller’s intention to commence Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationconstrued as a penalty.

Appears in 1 contract

Samples: Lease Agreement (United Stationers Supply Co)

Base Rent. Purchaser will receive Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in writing, by a credit wire transfer of immediately available funds or a check for currency which, at Closing the time of payment, is legal tender for private or public debts in the prorated amount United States of all America, base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary, or collected by, Seller and attributable to any period following payable in equal monthly installments as set forth in Section 4 of the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made Summary in advance on or before the Closing Datefirst day of each and every calendar month during the Lease Term, without any setoff or deduction except as expressly provided for in this Lease. Delinquent The Base Rent for the first full calendar month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. Notwithstanding the foregoing, so long as Tenant is not in default (beyond the expiration of any applicable notice and/or cure period) under the terms hereof, Tenant’s obligation to pay Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed abated for the second full calendar month in which through the Closing Date occurs seventh full calendar month of the Lease Term (the “Closing MonthAbatement Period”). Should Tenant default (beyond the expiration of any applicable notice and/or cure period) in its obligations hereunder at any time during the Lease Term and the Lease terminates as a result, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller all unpaid Base Rent for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Abatement Period shall be promptly remitted to Purchaserimmediately due and payable. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in During the ordinary course of its business; providedAbatement Period, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) Tenant shall be required responsible for all other monetary obligations hereunder, including, without limitation, any obligations to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “pay Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationRent.

Appears in 1 contract

Samples: Office Lease (Summit Healthcare REIT, Inc)

Base Rent. Purchaser will receive a credit at Closing for Landlord and Tenant do each state and represent that it is the prorated amount intention of each of them that this Lease be interpreted and construed as an absolute net lease and that all base or fixed rent payable pursuant Basic Rent and Additional Rent to the Leases and all Additional Rents (collectivelyextent required below, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied paid by Tenant to Landlord without abatement, deduction, diminution, deferment, suspension, reduction or setoff, except as followsmay be expressly permitted in this Lease. It is the further express intent of Landlord and Tenant that, except as otherwise expressly provided herein: (i) firstthe obligations of Landlord and Tenant hereunder will be separate and independent covenants and agreements and that the Basic Rent and Additional Rent, and all other charges and sums payable by Tenant hereunder, will commence at the times provided herein and will continue to Delinquent Rent owed for be payable in all events unless the month obligations to pay the same will be terminated pursuant to an express provision in which the Closing Date occurs (the “Closing Month”), this Lease; (ii) secondall costs or expenses of whatsoever character or kind, to any accrued Rents owing to Purchasergeneral or special, ordinary or extraordinary, foreseen or unforeseen, and of every kind and nature whatsoever that may be necessary or required in and about the Property, or any portion thereof, and Tenant’s possession or authorized use thereof during the Term of this Lease, will be paid by Tenant other than as expressly and specifically set forth in this Lease, and all provisions of this Lease are to be interpreted and construed in light of the intention expressed in this Section; (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Basic Rent collected by Purchaser and due Seller specified in Article 3 will be promptly remitted absolutely net to Seller. Any Landlord so that Landlord will be paid the entire Basic Rent collected specified in Article 3 in each year during the Term of this Lease (unless extended or renewed at a different Basic Rent); (iv) all Impositions and Taxes, insurance premiums, utility expense, repair and maintenance expense, and all other costs, fees, interest, charges, expenses, reimbursements and obligations of every kind and nature whatsoever relating to the Premises, or any portion thereof, (other than as expressly and specifically set forth in this Lease) which may arise or become due during the Term of this Lease, or any extension or renewal thereof, will be paid or discharged by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; Tenant and (iiiv) shall not be permitted Tenant hereby agrees to commence or pursue any legal proceedings indemnify, defend and save Landlord harmless from and against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating costs, fees, charges, expenses, common area maintenance chargesreimbursements and obligations, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationinterest thereon.

Appears in 1 contract

Samples: Lease Agreement (Regis Corp)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. Tenant waives and releases all statutory liens and offset rights as to rent. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence required more than once in any 12-month period or pursue any legal proceedings against any tenant seeking eviction of such tenant or at 3 times over the termination term of the underlying Lease. “Additional Rents” The provision for such late charge shall mean any be in addition to all of Landlord's other rights and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses remedies hereunder or at law and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationnot be construed as a penalty.

Appears in 1 contract

Samples: Lease Agreement (Atroad Inc)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent, as defined in Exhibit C, due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any services, goods or fixed rent payable pursuant to the Leases and materials furnished by Landlord at Tenant’s request), all Additional Rents (collectively, of which hereinafter may be collectively called “Rent”) previously .” Any such payments shall be paid toconcurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments of the first day of each calendar month during the Lease Term and any extensions or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Daterenewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand or any right of set-off or deduction whatsoever. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. No payment thereof has not been made by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or before statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the Closing Datebalance or pursue any other available remedy. Delinquent The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be prorated at Closingconstrued to be a waiver of Landlord's right to declare a default for any other late payment. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant’s covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Office Lease Agreement (Clearone Communications Inc)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or fixed rent payable pursuant to the Leases and materials furnished by Landlord at Tenant’s request), all Additional Rents (collectively, of which hereinafter may be collectively called “Rent”) previously .” In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid toto Landlord by Tenant under the terms and conditions of this Lease. In the event of nonpayment of any Rent, Landlord shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rent and Additional Rent. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or collected byportion thereof during the Lease Term, Seller shall be due and attributable to payable in advance in monthly installments on the first day of each calendar month during the Lease Term and any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Dateextensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. No payment thereof has not been made by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the earliest Rent due hereunder, nor shall any endorsement or before statement on any check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the Closing Datebalance or pursue any other available remedy. Delinquent The acceptance by Landlord of an installment of Rent on a date after the due date of such payment shall not be prorated construed to be a waiver of Landlord’s right to declare a default for any other late payment. If Tenant fails to timely pay any two (2) installments of rent in any twelve-month period, Landlord at Closingits sole option may require Tenant to pay rent (as estimated by Landlord, if necessary) quarterly in advance for the 12-month period following such second failure. All Rent collected amounts received by Purchaser or Seller Landlord from each tenant from and after Closing will Tenant hereunder shall be applied as follows: (i) first, first to Delinquent the earliest accrued and unpaid Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, then outstanding. Tenant’s covenant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any pay Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller independent of every other covenant set forth in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying this Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Office Lease Agreement (Epicor Software Corp)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay to Landlord Base Rent and other monetary obligations of Tenant to Landlord under the prorated amount terms of all base or fixed rent payable pursuant this Lease (such other monetary obligations are herein referred to the Leases and all as “Additional Rents (collectively, “Rent”) previously paid toin lawful money of the United States, without offset or collected bydeduction. Commencing on the Effective Date and on the same day as the Effective Date of each and every month thereafter during the Term, Seller and attributable Tenant shall pay to any period following the Closing DateLandlord Base Rent in advance. Rents are “Delinquent” when they were due prior Other monetary obligations of Tenant to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant Landlord under the Leases for any Rent and terms of this Lease (such other sums due Seller for period attributable monetary obligations are herein referred to Seller’s ownership of the Property; and provided further, however, Seller (ias “Additional Rent”) shall be required paid to notify Purchaser Landlord within thirty (30) days following Tenant’s receipt from Landlord of an invoice detailing such Additional Rent. Base Rent (and, to the extent applicable, Additional Rent) 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 Additional Rent shall be made to Landlord at its address stated herein or to such other persons or at such other addresses as Landlord may from time to time designate in writing to Tenant. Base Rent and Additional Rent are collectively referred to as “Rent.” All monetary obligations of Seller’s intention Tenant to commence Landlord under the terms of this Lease are deemed to be Rent. Rent shall be paid absolutely net to Landlord or pursue its designee, so that this Lease shall yield to Landlord the full amount thereof, without setoff, deduction or reduction. Without limiting the foregoing, all payments and reimbursements to Landlord made by or on account of any legal proceedings; obligation of Tenant under this Lease shall be free and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction clear of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean and without deduction for any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility chargeslevies, management feesimposts, insurance costsdeductions, other comparable expenses assessments, charges or withholdings, and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery all liabilities with respect thereto of any conveyance documentation.nature

Appears in 1 contract

Samples: Lease (Clean Energy Fuels Corp.)

Base Rent. Purchaser will receive a credit at Closing for A. Tenant covenants and agrees to pay to Landlord during the prorated Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due Seller under this Lease (including, without limitation, any charges for period attributable to Seller’s ownership replacement of the Property; electric lamps and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges ballasts and any other tenant chargesservices, goods or materials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” Rent payments shall be sent to: CB Xxxxxxx Xxxxx 0000 X. Xxxxxxxxxx Xxxxxxx, Xxxxx 000 Xxxx Xxxx Xxxx, XX 00000 Attn: Property Manager In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under the terms and conditions of this Lease. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The provisions Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly instalments of the first day of each calendar month during the Lease Term and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the instalments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in such month. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationLease.

Appears in 1 contract

Samples: Industrial Building Lease Agreement (Amedica Corp)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth in the schedule of all base Base Rent attached hereto as Addendum 1. Tenant promises to pay to Landlord in advance, without demand, deduction or fixed rent payable pursuant to the Leases and all Additional Rents (collectivelyset-off except as otherwise specifically provided under this Lease, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made monthly installments of Base Rent on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from first Business Day (as defined below) of each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for calendar month beginning with the month in which Tenant’s obligation to pay Base Rent commences as provided in Addendum 1. Notwithstanding the Closing Date occurs foregoing, the first (1st) payment of Base Rent is due within thirty (30) days after the “Closing Month”later of (a) receipt of an invoice from Landlord, together with a current Project Report (defined in the Development Agreement); or (b) the Commencement Date. Landlord and Tenant agree that, as of the Effective Date, the initial schedule of Base Rent reflected in Addendum 1 of this Lease is an estimate based on the Developer Capital Contribution (defined in the Development Agreement). Upon determination of the Actual Cost (defined in the Development Agreement), (ii) secondand if a cost savings in, to any accrued Rents owing to Purchaseror deduction against, the cost of construction is realized, and (iii) thirdTenant is entitled to a reduction in Base Rent pursuant to the Development Agreement, then, Landlord and Tenant will enter into a lease amendment to Delinquent Rents owing to Seller set forth a revised Base Rent schedule. [LANDLORD RESERVCES RIGHT TO COMMENT IN CONNECTION WITH DA] Payments of Base Rent for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser any fractional calendar month shall be promptly remitted prorated. All payments required to Purchaser. Purchaser shall use reasonable efforts be made by Tenant to collect Delinquent Rents owed Landlord hereunder (or to Seller such other party as Landlord may from time to time specify in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (iwriting) shall be required made by Electronic Funds Transfer of immediately available federal funds at such place within the continental United States as Landlord may from time to notify Purchaser time designate to Tenant in writing of Seller’s intention writing. Tenant shall have no right at any time to commence axxxx, reduce, or pursue set-off any legal proceedings; and (ii) shall not rent due hereunder except as may be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying expressly provided in this Lease. “Additional RentsRentshall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges means Base Rent and any other tenant charges. The provisions amounts payable by Tenant under this Lease, within the meaning of this California Civil Code Section 14.5 shall survive the Closing and the delivery of any conveyance documentation1951(a).

Appears in 1 contract

Samples: Lease Agreement (ROX Financial LP)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off (except as expressly provided for in this Lease), monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of Operating Expenses beyond 5 business days after the due date thereof, and after receipt of notice as provided below, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be prorated obligated to pay the late charge until Landlord has given Tenant 5 business days written notice of the delinquent payment (which may be given at Closing. All Rent collected by Purchaser or Seller from each tenant from any time during the delinquency) and after Closing will be applied as follows: (i) first, Tenant has failed to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its businessremit said payment within such 5-day period; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence or pursue required more than twice in any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass12-through charges and any other tenant chargesmonth period. The provisions provision for such late charge shall be in addition to all of this Section 14.5 Landlord's other rights and remedies hereunder or at law and shall survive the Closing and the delivery of not be construed as a penalty or as limiting Landlord's remedies in any conveyance documentationmanner.

Appears in 1 contract

Samples: Lease Agreement (Select Comfort Corp)

Base Rent. Purchaser will receive a credit at Closing Lessee shall pay to Lessor as mat for the prorated amount Premises, monthly payments in advance, on the first day of all each month of the term hereof the base or fixed monthly rent payable pursuant set forth below for each applicable rental period: RENTAL PERIOD (inclusive of dates listed below) COMMENCING EXPIRING BASE MONTHLY RENT ---------- -------- ----------------- November 1, 2000 October 31, 2002 $4,993.33 November 1, 200k2 October 31, 2004 $5,200.00 November 1, 2004 October 31, 2005 $5,416.67 Rent for any period during the term hereof which is for less than one month shall be a pro rata portion of the monthly installment. In addition to the Leases base monthly rent, Lessee shall also pay to Lessor all additional Rents, incremental Rents, charges and all Additional fees (collectively referred to as the "Rent") as provided for in the Lease or in any other agreement or writing between the parties. All Rents (collectivelyshall be paid by Lessee promptly when due, “Rent”) previously paid toin lawful money of the United States of America, without notice or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Datedemand, and payment thereof has not been made on without deduction, abatement, counterclaim, recoupment or before the Closing Date. Delinquent Rent shall not be prorated at Closingset-off of any amount or for any reason whatsoever. All Rent collected by Purchaser is to be paid to the Lessor at the address set forth in the heading of this Lease and made payable to Avi Don Management. L.L.C., Managing Agent, or Seller to such other person or address as Lessor may from each tenant from time to time direct and after Closing will if so directed, Lessee agrees to make the payments in such other manner. All Rent payments shall be applied deemed on account of the earliest stipulated Rent or in such other manner as follows: (i) first, to Delinquent Rent owed for the month Lessor in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to PurchaserLessor's sole discretion may determine, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser no endorsement or statement on any check or letter shall be promptly remitted deemed an accord and satisfaction, estoppel or waiver of Lessor's rights and Lessor may accept any check or payment without prejudice to Purchaser. Purchaser shall use reasonable efforts its rights to collect Delinquent Rents owed to Seller in recover the ordinary course of its business; provided, however, that Seller hereby retains the right balance due or to pursue any tenant other remedies available against Lessee. Lessee hereby agrees to timely pay the Rent imposed under this Lease or any other agreements or writings between the parties and to observe and timely fulfill and perform all of its obligations to the Lessor. Lessee agrees that, In the event it falls to make any payments when due or to perform any obligation required of it, it shall be deemed in default of the Lease and Lessor shall have all remedies available to it under this Lease and/or available to a Landlord under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided furtherlaw, however, Seller (i) whichever shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationmore expansive.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Able Laboratories Inc)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount of all base or fixed rent payable pursuant to set forth above. The first month's Base Rent, the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abatx, xxduce, or set-off any rent due hereunder except where expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 3 percent of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be prorated construed as a penalty. Notwithstanding the above, Tenant shall not be obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the delinquent payment (which may be give at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for any time during the month in which the Closing Date occurs (the “Closing Month”delinquency), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) such notice shall not be permitted to commence required more than twice in any 12-month period or pursue any legal proceedings against any tenant seeking eviction of such tenant or five times over the termination term of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentation.

Appears in 1 contract

Samples: Lease Agreement (Phase Metrics Inc)

Base Rent. Purchaser will receive a credit at Closing During the Term, Subtenant shall pay to Sublandlord, in accordance with the terms of this Sublease, base rent ("Base Rent") for the prorated Subleased Premises in monthly installments in an amount of all base or fixed rent payable pursuant equal to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: product of (i) first$1.75 per rentable square foot of the Subleased Premises per month, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), multiplied by (ii) second, the rentable square footage of the Subleased Premises (as verified pursuant to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for Section 4.4 below following the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller substantial completion of the "Demising Work," as those terms are defined in the ordinary course of its businessSection 4.3 below); provided, however, that Seller hereby retains until such time as the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership verification of the Property; rentable square footage of the Subleased Premises has occurred pursuant to Section 4.4 below, Subtenant shall pay Base Rent in the estimated amount of $10,500.00 per month (i.e., $1.75 per rentable square foot of the Subleased Premises multiplied by 6,000 rentable square feet), subject to reconciliation upon such verification. Within thirty (30) days following such verification, Subtenant shall pay to Sublandlord any deficiency in prior payments of Base Rent relating to the period from and provided furtherafter the Commencement Date through the date that the next installment of Base Rent is paid by Subtenant, howeveror, Seller (i) if Subtenant shall have overpaid Base Rent during such period, then Subtenant shall be required entitled to notify Purchaser a credit against the next succeeding installment(s) of Base Rent in writing an amount equal to such overpayment (or if no installments of Seller’s intention Base Rent remain due hereunder, then Sublandlord shall refund such overpayment to commence or pursue any legal proceedings; and Subtenant within thirty (ii30) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of days after such tenant or verification). The Base Rent for the termination first full calendar month of the underlying LeaseTerm shall be paid at the time of Subtenant's execution of this Sublease. “Additional Rents” shall mean any Any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions payable by Subtenant to Sublandlord pursuant to the terms of this Section 14.5 Sublease (other than Base Rent) are herein collectively referred to as "Additional Rent," and Base Rent and Additional Rent are herein collectively referred to as "Rent." Except as otherwise expressly provided herein, all Rent shall survive be payable by Subtenant without notice, demand, setoff or deduction, either (a) by a check for currency which, at the Closing time of payment, is legal tender for private or public debts in the United States of America, to Sublandlord at the place set forth as Sublandlord's address for notices hereunder or, at Sublandlord's option, to such other party or at such other place as Sublandlord may from time to time designate in a written notice to Subtenant, or (b) by electronic transfer of U.S. funds pursuant to the following instructions, or pursuant to such other instructions as Sublandlord may from time to time designate in a written notice to Subtenant: Beneficiary Name: Google Inc. Bank Name: Xxxxx Fargo ABA Routing #: 000000000 Bank Account #: 4375669785 If the Term begins or ends on a day other than the first or last day of a month or if any Rent is otherwise payable for a period which is shorter than one month, the Rent for such partial month shall be prorated on the basis of a thirty (30) day month. At any time during the Term, Sublandlord may deliver to Subtenant a notice in the form as set forth in Exhibit B, attached hereto, as a confirmation only of the information set forth therein, which Subtenant shall execute and the delivery return to Sublandlord within five (5) days of any conveyance documentationreceipt thereof.

Appears in 1 contract

Samples: Sublease (Digital Domain Media Group, Inc.)

Base Rent. Purchaser will receive a credit Tenant shall pay, without notice or demand, to Landlord or Landlord’s agent at Closing for the prorated amount management office of all the Building, or at such other place as Landlord may from time to time designate in writing, monthly installments of base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, Base Rent”) previously paid toas set forth in Section 8 of the Summary, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made in advance on or before the Closing Datefirst day of each and every month during the Lease Term, without any setoff or deduction whatsoever. Delinquent The Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the first full month in which of the Closing Date occurs Lease Term (or if the “Closing Month”)first full month of the Lease Term is within a free rent period, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller then the Base Rent for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in first full month which occurs after the ordinary course expiration of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (ifree rent period) shall be required to notify Purchaser in writing paid at the time of SellerTenant’s intention to commence execution of this Lease. If any rental or pursue any legal proceedings; and other payment date (iiincluding the Lease Commencement Date) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction falls on a day of the month other than the first day of such tenant month or if any rental or other payment is for a period which is shorter than one month, then the termination rental or other payment for any such fractional month shall be a proportionate amount of a full calendar month’s rental or other payment based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the underlying terms and conditions of this Lease, Landlord hereby agrees to xxxxx Tenant’s obligation to pay monthly Base Rent for the second (2nd) through fifth (5th) full months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. “Additional Rents” In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 19.1 of this Lease, then as a part of the recovery set forth in Section 19.2 of this Lease, Landlord shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The be entitled to the recovery of the monthly Base Rent abated under the provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationArticle 3.

Appears in 1 contract

Samples: Office Lease (Women First Healthcare Inc)

Base Rent. Purchaser The “Commencement Date” shall mean the date on which the Substantial Completion Date (as defined in Exhibit B) occurs. Lessor and Lessee will receive a credit at Closing for confirm in writing the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable Commencement Date. Subject to any period following Project Delays (as defined in Exhibit B), commencing on the Closing Date. Rents are “Delinquent” when they were due prior to later of the Closing DateCommencement Date or April 1, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs 2023 (the “Closing MonthRent Commencement Date”), Lessee shall pay to Lessor as base annual rent an amount equal to the Final Cost multiplied by NINE AND TWENTY-FIVE HUNDREDTHS PERCENT (ii9.25%) second(“Base Rent”), payable to Lessor in twelve equal monthly installments in advance on the first day of each calendar month during the Term at such place as Lessor shall designate from time to time in writing, without offset, deduction or demand. By way of example, in the event the Final Cost is $10,000,000, the annual Base Rent shall be $925,000, payable in monthly installments of $77,083.33. Base Rent for any period during the Term which is less than one (1) month shall be paid in a pro rata portion of the monthly rental installment amount. Lessor shall deliver notice to Lessee of Lessor’s calculation of the Base Rent at the same time Lessor delivers notice to Lessee that Lessor’s Work is substantially complete (the “Base Rent Notice”). In addition, Lessee acknowledges that all costs and expenses comprising the Final Cost which are used in the calculation of Base Rent may not be available at the time Lessor delivers notice that Lessor’s Work is complete, therefore, Lessor shall have the right, for a period of six (6) months after Lessor delivers the Base Rent Notice, to any accrued Rents owing deliver written notice to Purchaser, and Lessee (iiithe “Adjusted Base Rent Notice”) third, adjusting Base Rent to Delinquent Rents owing to Seller for reflect the period prior to Closingactual Final Cost. Any Lessee shall pay Base Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller as set forth in the ordinary course Adjusted Monthly Rent Notice on the first day of its business; providedthe month immediately following Lessee’s receipt of the Adjusted Base Rent Notice and, howeverin addition, that Seller hereby retains Lessee shall pay to Lessor the right to pursue any tenant under the Leases incremental difference in Base Rent for any prior months in the event Base Rent and other sums due Seller for period attributable to Seller’s ownership of as set forth in the Property; and provided furtherAdjusted Base Rent Notice is greater than the Base Rent set forth in the Base Rent Notice. In the event such incremental difference in Base Rent is greater than $20,000, however, Seller (i) shall it may be required to notify Purchaser paid in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or six equal installments over the termination of six months following the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationAdjusted Monthly Base Rent Notice.

Appears in 1 contract

Samples: Charter School Lease

Base Rent. Purchaser will receive a credit at Closing Tenant shall pay an annual Base Rent in the amount set forth above in the Basic Lease Information. The Initial Monthly Base Rent for the prorated amount third (3rd) month of all base or fixed rent the Term shall be due and payable pursuant to the Leases and all Additional Rents within five (collectively, “Rent”5) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Datebusiness days after Tenant’s execution of this Lease, and payment thereof has not been made Tenant promises to pay to Landlord in advance, without demand, deduction or set-off (except as expressly permitted under this Lease), monthly installments of Base Rent on or before the Closing Datefirst day of each calendar month commencing with the third calendar month succeeding the Commencement Date (as that date may be extended as provided in Paragraph 2(c)). Delinquent Payments of Base Rent for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser Tenant to Landlord hereunder (or Seller to such other party as Landlord may from each tenant from and after Closing will be applied as follows: (itime to time specify in writing) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted made by electronic funds transfer or bank wire transfer of immediately available federal funds at such place, within the continental United States, as Landlord may from time to Purchasertime designate to Tenant in writing. Purchaser The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as expressly set forth in this Lease, Tenant shall use reasonable efforts have no right at any time to collect Delinquent Rents owed abate, rxxxxx, or set-off any rent due hereunder. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses (as defined below) for more than five (5) days, Tenant shall pay to Seller in the ordinary course Landlord on demand a late charge equal to six percent (6%) of its businesssuch delinquent sum; provided, however, that Seller hereby retains that, not more than once during any twelve (12)- month period during the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided furtherTerm (as extended), however, Seller (i) Tenant shall be required entitled to notify Purchaser in writing written notice of Seller’s intention to commence non-receipt of Base Rent or pursue any legal proceedings; estimated Operating Expenses from Landlord, and (ii) Tenant shall not be permitted to commence liable for any late charge with respect thereto if such installment of Base Rent or pursue any legal proceedings against any tenant seeking eviction estimate Operating Expenses is received by Landlord within five (5) days after Tenant’s receipt of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesnotice. The provisions provision for such late charge shall be in addition to all of this Section 14.5 Landlord's other rights and remedies hereunder or at law and shall survive the Closing and the delivery of any conveyance documentationnot be construed as a penalty.

Appears in 1 contract

Samples: Lease (Bloom Energy Corp)

Base Rent. Purchaser will receive a credit at Closing for Tenant shall pay Base Rent in the prorated amount set forth above. The first month's Base Rent, the cash portion of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing DateSecurity Deposit, and payment thereof has not been made the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the Closing first day of each calendar month succeeding the Commencement Date. Delinquent Payments of Base Rent and Operating Expenses for any fractional calendar month shall not be prorated at Closingprorated. All Rent collected payments required to be made by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, Tenant to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser Landlord hereunder shall be promptly remitted payable at such address as Landlord may specify from time to Purchasertime by written notice delivered in accordance herewith. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any rent due Seller hereunder except as may be expressly provided in this Lease. If Tenant is deliquent in any monthly installment of Base Rent or of estimated Opeating Expenses for period attributable more than 5 days, Tenant shall pay to Seller’s ownership Landlord on demand a late charge equal to 5 percent of the Property; and provided further, however, Seller (i) such deliquent sum. The provision for such late charge shall be required in addition to notify Purchaser in writing all of Seller’s intention to commence Landlord's other rights and remedies hereunder or pursue any legal proceedings; at law and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant chargesconstrued as a penalty. The provisions late charge provided for in this Paragraph 4 shall not accrue with respect to the first 2 occurrences of this Section 14.5 shall survive the Closing and the delivery deliquent payment in any consecutive 12-month period, so long as payment is made by Tenant within 5 days of any conveyance documentationwritten notice from Landlord to Tenant of Tenant's failure to pay an installment of Base Rent or estimated Operating Expenses as therein described.

Appears in 1 contract

Samples: Lease Agreement (Americas Shopping Mall Inc)

Base Rent. Purchaser Commencing on the Rent Commencement Date with respect to each Portion of the Premises, Tenant shall commence paying with respect to such Portion of the Premises (and will receive a credit thereafter continue to pay with respect to such Portion of the Premises through the Expiration Date applicable to such Portion of the Premises), without prior notice or demand, to Landlord at Closing for the prorated amount of all base address or fixed rent payable pursuant to the Leases and all Additional Rents wiring instructions set forth in Section 13 of the Summary, or, at Landlord’s option, at such other address or wiring instructions as Landlord may from time to time designate in writing, by a check or wire transfer for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, the base rent (collectively, Base Rent”) previously paid toas set forth in Section 4 of the Summary with respect to such Portion of the Premises, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made payable in equal monthly installments in advance on or before the Closing Datefirst day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Delinquent The Base Rent for the first full month of the Lease Term with respect to the Tranche I Premises following the Rent Commencement Date for the Tranche I Premises shall not be prorated at Closingpaid within ten (10) business days after Tenant’s execution of this Lease. All If any payment of Rent collected by Purchaser or Seller from each tenant from is for a period which is shorter than one month, the Rent for any such fractional month shall accrue on a daily basis during such fractional month and after Closing will be applied as follows: shall total an amount equal to the product of (i) firsta fraction, to Delinquent Rent owed for the numerator of which is the number of days in such fractional month and the denominator of which is the actual number of days occurring in which the Closing Date occurs (the “Closing Month”)such calendar month, (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not the then-applicable monthly installment of Base Rent. All other payments or adjustments required to be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or made under the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions terms of this Section 14.5 Lease that require proration on a time basis shall survive be prorated on the Closing and the delivery of any conveyance documentationsame basis.

Appears in 1 contract

Samples: Service Agreement (Twilio Inc)

Base Rent. Purchaser will receive a credit at Closing for the prorated amount The first full month’s Base Rent shall be due and payable concurrently with Tenant’s delivery of all base an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or fixed rent payable pursuant to the Leases and all Additional Rents (collectivelyset-off, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made monthly installments of Base Rent on or before the Closing Datefirst day of each calendar month during the Term hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to the wire instructions provided by Landlord. Delinquent Payments of Base Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the any fractional calendar month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted prorated. The obligation of Tenant to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce, or set-off any Rent (as defined in Section 5) due Seller hereunder except for period attributable any abatement as may be expressly provided in this Lease. 10578 Science Ctr./Avidity Biosciences – Page 4 Notwithstanding anything to Seller’s ownership of the Property; and provided furthercontrary contained in this Lease, howeverso long as Tenant is not then in Default (as defined in Section 20) under this Lease, Seller (i) Tenant shall not be required to notify Purchaser in writing of Seller’s intention pay Base Rent with respect to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination Premises for the period commencing on the first day of the underlying Lease2nd full calendar month after the Commencement Date through the last day of the 6th full calendar month after the Commencement Date (the “Abatement Period”). “Additional Rents” Tenant shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions resume paying full Base Rent on the first day of this Section 14.5 shall survive the Closing and seventh full calendar month after the delivery of any conveyance documentationCommencement Date.

Appears in 1 contract

Samples: Lease Agreement (Avidity Biosciences, Inc.)

Base Rent. Purchaser will receive Tenant covenants to pay to Landlord during the term hereof, at Landlord's office at the address set forth in Paragraph (h) of Article 1 hereof or to such other persons or at such other places as directed from time-to-time by written notice to Tenant from Landlord, a credit at Closing monthly rental (hereinafter referred to as the "Base Rent") in the amount set forth in Paragraph (c) of Article 1 hereof (subject to adjustments as hereinafter provided IN THE LEASE ADDENDUM) due and payable without demand or offset or deduction (EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY HEREIN), in advance on the first day of each calendar month; except that if Commencement Date occurs on a day other than the 1st day of a calendar month, then the Base Rent for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed fraction for the month in which starting with the Closing Commencement Date occurs shall be paid on such Commencement Date, prorated on the basis of a thirty (the “Closing Month”)30) day month. If any installment of rent or any other charge due from Tenant is not received by Landlord or Landlord's designee WITHIN FIVE (5) DAYS OF when due then, at Landlord's election and upon Landlord's WRITTEN demand, Tenant shall pay to Landlord a late charge equal to fifteen TEN percent (ii10%) second, to any accrued Rents owing to Purchaserof such overdue amount, and (iii) third, to Delinquent Rents owing to Seller for in such event the period prior to Closing. Any Rent collected by Purchaser parties hereby agree that such late charge represents a fair and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any Rent and other sums due Seller for period attributable to Seller’s ownership estimate of the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination costs Landlord will incur by reason of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationlate payment by Tenant.

Appears in 1 contract

Samples: Ocular Sciences Inc /De/

Base Rent. Purchaser will receive (a) Beginning on the Rent Commencement Date (as may be extended in accordance with Section 2.2), Tenant shall pay the Base Rent each month in advance on the first day of each calendar month during the Term. The first monthly installment of Base Rent shall be due upon Lease execution and such amount shall be applied to the installment payment due to be paid by Tenant to Landlord after the Rent Commencement Date. For any partial month at the beginning or end of the Term, Tenant shall pay a credit proportional share of the amount that would be due for a full month, and with respect to a partial month at Closing the beginning of the Term, Tenant shall pay such proportional share on the Commencement Date. In addition to the Base Rent, Tenant shall pay all additional rent and rental adjustments provided herein at the times set forth herein, or if no time for payment is specified, then payment shall be made within thirty (30) days after Tenant's receipt of an invoice from Landlord or another billing authority. All payments shall be made to Landlord at Landlord's Address or such other place as Landlord may designate in writing, without prior demand and without abatement, deduction or offset except as may be specifically set forth herein. Tenant shall not pay, and Landlord shall not accept, any rental payment more than one month in advance. All charges to be paid by Tenant hereunder, other than Base Rent, shall be considered additional rent for the prorated amount purpose of all base this Lease, and the words “rent” or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the Closing Date. Rents are “Delinquentwhen they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rent as used in this Lease shall not be prorated at Closing. All Rent collected by Purchaser or Seller from each tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser shall be promptly remitted to Purchaser. Purchaser shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any mean both Base Rent and other sums due Seller for period attributable to Seller’s ownership of such additional rent unless the Property; and provided further, however, Seller (i) shall be required to notify Purchaser in writing of Seller’s intention to commence context specifically or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or clearly indicates that only the termination of the underlying Lease. “Additional Rents” shall mean any and all amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive the Closing and the delivery of any conveyance documentationBase Rent is referenced.

Appears in 1 contract

Samples: T2 Biosystems, Inc.

Base Rent. Purchaser will receive a credit at Closing Tenant shall deliver to Landlord, concurrent with Txxxxx’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the prorated amount of all base or fixed rent payable pursuant to calendar month in which the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period day immediately following the Closing Dateexpiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Rents are “Delinquent” when they were due prior Tenant shall pay to the Closing DateLandlord in advance, and payment thereof has not been made without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the Closing Date. Delinquent Rent shall not be prorated at Closing. All Rent collected by Purchaser or Seller from first day of each tenant from and calendar month during the Term hereof after Closing will be applied as follows: (i) firstthe expiration of DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 800 Xxxxxxxxxx Xxxx – Xxxxx 000/Xxxxx Tx - Page 4 the Subsequent Abatement Period, in lawful currency of the United States of America, to Delinquent Rent owed the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the month in which the Closing Date occurs instructions provided by Landlord to Tenant (the “Closing MonthEFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (ii) secondi.e., to 800 Xxxxxxxxxx Xx.). Payments of Base Rent for any accrued Rents owing to Purchaser, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Purchaser and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Purchaser fractional calendar month shall be promptly remitted prorated. Notwithstanding anything to Purchaserthe contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. Purchaser shall use reasonable efforts The obligation of Tenant to collect Delinquent Rents owed to Seller in the ordinary course of its business; provided, however, that Seller hereby retains the right to pursue any tenant under the Leases for any pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to axxxx, reduce, or set-off any Rent (as defined in Section 5) due Seller hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period attributable to Seller’s ownership commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Property; and provided furtherSubsequent Abatement Period. For the avoidance of doubt, however, Seller (i) Tenant shall be required to notify Purchaser in writing of Seller’s intention to commence or pursue any legal proceedings; and (ii) shall not be permitted to commence or pursue any legal proceedings against any tenant seeking eviction of such tenant or the termination of the underlying Lease. “Additional Rents” shall mean any pay Operating Expenses and all other amounts due from tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other tenant charges. The provisions of this Section 14.5 shall survive payable under the Closing and Lease during the delivery of any conveyance documentationSubsequent Abatement Period.

Appears in 1 contract

Samples: Lease Agreement (CARGO Therapeutics, Inc.)

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