Common use of Base Rent Clause in Contracts

Base Rent. Notwithstanding anything to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 2 contracts

Sources: Office Lease Agreement, Office Lease Agreement (Exponential Interactive, Inc.)

Base Rent. Notwithstanding anything 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 contrary 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 purchases Landlord's interest in the LeaseProperty pursuant to the Purchase Agreement, effective as any accrued unpaid Base Rent and all outstanding Additional Rent shall be due on the date of purchase in addition to the purchase price and other sums due Landlord under the Purchase Agreement. The Base Rent for each Base Rent Period shall equal the sum of: (1) (A) Stipulated Loss Value on the first day of such Base Rent Period, times (B) one minus the sum of the New Term Commencement Certificate of Deposit Collateral Percentage for such Base Rent Period and the Securities Collateral Percentage for such Base Rent Period, times (C) the sum of (i) the Effective Rate for such Base Rent Period and (ii) the Spread calculated on the tenth (10th) Business Day prior to the day upon which such Base Rent Period commences, times (D) the number of days in such Base Rent Period, divided by (E) three hundred sixty (360); PLUS (2) (A) Stipulated Loss Value on the first day of such Base Rent Period, times (B) the Certificate of Deposit Collateral Percentage for such Base Rent Period, times (C) twenty-two and one-half basis points (22.5/100 of 1%), times (D) the number of days in such Base Rent Period, divided by (E) three hundred sixty (360); PLUS (3) (A) Stipulated Loss Value on the first day of such Base Rent Period, times (B) the Securities Collateral Percentage for such Base Rent Period, times (C) the sum of (i) the Effective Rate for such Base Rent Period and (ii) twenty-two and one-half basis points (22.5/100 of 1%), times (D) the number of days in such Base Rent Period, divided by (E) three hundred sixty (360). To ease the administrative burden of this Lease and the Pledge Agreement, clause (2) in the formula above for calculating Base Rent reflects a reduction in the Base Rent equal to the interest that would accrue on any Cash Collateral required by the Pledge Agreement from time to time if the Accounts (as defined in the Pledge Agreement) bore interest at the Effective Rate. Landlord has agreed to such reduction in the Base Rent to provide Tenant with the economic equivalent of interest on such Cash Collateral, and in return Tenant has agreed to the provisions of the Pledge Agreement that excuse the actual payment of interest on the Accounts. By incorporating such reduction of Base Rent into the formula above, and by providing for noninterest bearing Accounts in the Pledge Agreement, the parties will avoid an unnecessary and cumbersome periodic exchange of equal payments. It is not, however, the intent of Landlord or Tenant to understate Base Rent or interest for financial reporting purposes. Accordingly, for purposes of determining Tenant's compliance with the affirmative financial covenants set forth in subparagraph 9.(ac), and for purposes of any financial reports that this Lease requires of Tenant from time to time, Tenant may report Base Rent as if there had been no such reduction and as if the Cash Collateral from time to time required by the Pledge Agreement had been maintained in Accounts bearing interest at the Effective Rate. Assume, only for the purpose of illustration of the calculation of Base Rent: that after the Carrying Costs Accrual Termination Date, monthly installments a hypothetical Base Rent Period contains exactly ninety (90) days; that, after taking into account all Qualified Payments, the Stipulated Loss Value on the first day of such Base Rent Period is $50,000,000; that the Certificate of Deposit Collateral Percentage for such Base Rent Period is twenty percent (20%); that the Securities Collateral Percentage for such Base Rent Period is thirty percent (30%); that the Effective Rate for the applicable Base Rent Period is 5.5%; and that the Spread for the applicable Base Rent Period is 0.5%. Under such assumptions, the Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of hypothetical Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended LeasePeriod will equal: $50,000,000 x 50% x (5.5% + 0.5%) x 90/360, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first or $375,000, PLUS $50,000,000 x 20% x .225% x 90/360, or $5,625, PLUS $50,000,000 x 30% x (185.5% + .225%) through eighth (8th) months of the New Term (i.e.x 90/360, September 1or $214,687.5, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.= $595,312.5

Appears in 2 contracts

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

Base Rent. Notwithstanding anything (A) Tenant shall pay to Landlord during the contrary Term of the Lease the Base Rent, without notice or demand, in the Leasemonthly installments specified in Section 1, effective as in advance on the first day of each calendar month of the New Term Commencement DateTerm. (B) Base Rent, monthly installments of Base Additional Rent for the Premises shall be and all other sums payable by Tenant to Landlord hereunder shall be paid, without set-off or deduction, in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all lawful currency of the monthly installments United States of Base Rent due during America to Landlord at the first (18) through eighth (8th) months of the New Term (i.e.address set forth in Section 1 hereof, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (or at such amount of abated Base Rent being hereinafter collectively referred other address as Landlord may from time to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anytime designate in writing to Tenant. Tenant hereby acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of rent or other sums due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being which will be extremely difficult and impracticable to ascertain. ThereforeSuch costs include, should but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of rent or any sum due from Tenant at shall not be received by Landlord or Landlord's designee within five (5) business days after said amount is due, then Tenant shall pay to Landlord a late charge of five (5%) percent of such overdue amount, plus any time during attorney’s reasonable fees and court costs incurred by Landlord by reason of Tenant's failure to pay rent and/or other charges when due to Landlord hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the New Term be cost that Landlord will incur by reason of the late payment by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant's default after having been given notice and opportunity with respect to curesuch overdue amount, then, in addition to all nor prevent Landlord from exercising any of Landlord’s the other rights and remediesremedies granted hereunder. In addition, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately any amounts due and payable not paid by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 within thirty (30) days after the same is intended to limit any other remedies available to Landlord due shall accrue interest at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodannual rate of 12% per annum.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Base Rent. Notwithstanding anything to Throughout the contrary Lease Term, Tenant shall pay Base Rent in the Leaseamount set forth above. Tenant promises to pay to Landlord in advance, effective without demand, deduction or set-off (except as of the New Term Commencement Dateexpressly 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 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 Premises 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 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 event of any failure on the part of Tenant to pay or discharge any of the foregoing, after the expiration of all applicable notice and cure periods (if any), Landlord shall have all rights, powers and remedies 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 with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base and Additional Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being sometimes hereinafter collectively referred to as “Rent”) and the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment obligations of all other monetary obligations due Landlord under the Amended this Lease during such Abatement Months, if anyare independent obligations. Tenant acknowledges that any default by Tenant under the Amended 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 shall have no right at any time during the New Term be in default after having been given notice and opportunity to curea▇▇▇▇, thenreduce, in addition to all of Landlord’s other rights and remediesor set-off any Rent due hereunder, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodexcept as specifically provided herein.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything (a) Subject to the contrary adjustment as hereinafter provided in the Section 4.3, and except as may be otherwise expressly provided in this Lease, effective as of Lessee shall pay to Lessor the New Term Commencement Date, monthly installments of Base Rent for the Premises set forth in Section 1.7 of the Basic Lease Provisions, without offset or deduction except as expressly provided herein. Lessee shall pay Lessor upon execution hereof the advance Base Rent described in Section 1.8 of the Basic Lease Provisions. Rent for any period during the Term hereof which is for less than one month shall be prorated based upon the actual number of days of the calendar month involved. Rent shall be payable in lawful money of the United States to Lessor at the address stated herein or to such other persons or at such other places as Lessor may designate to Lessee in writing. (b) The parties have agreed that the length and duration of the Design Period and the Construction Period (as such terms are defined in the Work Letter) notwithstanding, in the event that the Commencement Date shall not have occurred by Tenant in accordance with the end-of the 120th day following schedule: Period the commencement of New Term Monthly Installments of the Design Period, Lessee shall, subject to Lessor Delays and Force Majeure Delays, pay as special Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under an amount equal to $22,291.00 per month for the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all fifth and sixth months following the commencement of the monthly installments of Base Rent due during Design Period (subject to pro ration for any partial calendar months). (c) In the first event that Lessee is prevented from using, and does not use, the Premises or any portion thereof for five (185) through eighth consecutive business days or ten (8th10) months of the New Term business days in any twelve (i.e., September 1, 2011 through April 30, 201212) month period (the “Abatement MonthsEligibility Period”) (such amount as a result of any damage or destruction to the Premises or any repair, maintenance or alteration performed by Lessor after the Commencement Date, which interferes with Lessee’s use of the Premises, or any failure to provide services or access to the Premises or because of an eminent domain proceeding or because of the presence of Hazardous Substances in, on or around the Building, the Premises or the Site which could, in Lessee’s business judgment and taking into account the standards, guidances and recommendations included in the definition of Applicable Laws above with respect to Hazardous Substances, pose a health risk to occupants of the Premises, that is not, in any case, caused by or attributable to Lessee or its agents, employees, invitees or contractors, then Lessee’s rent shall be abated Base Rent being hereinafter collectively referred to or reduced, as the “Abated Amount”)case may be, for such time after expiration of the Eligibility Period that Lessee continues to be so prevented from using, and does not use, the Premises or a portion thereof, in the proportion that the rentable area of the portion of the Premises that Lessee is prevented from using, and does not use, bears to the total rentable area of the Premises. During However, in the event that Lessee is prevented from conducting, and does not conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Lessee to effectively conduct its business therein, and if Lessee does not conduct its business from such Abatement Monthsremaining portion, Tenant will still be responsible then for such time after expiration of the Eligibility Period during which Lessee is so prevented from effectively conducting its business therein, the rent for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term entire Premises shall be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlordabated; provided, however, Tenant acknowledges if Lessee reoccupies and agrees that nothing in this Section 2 is intended to limit conducts its business from any other remedies available to Landlord at law or in equity under applicable law (including, without limitationportion of the Premises during such period, the remedies under Civil Code Section 1951.2 and/or 1951.4 rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Lessee from the date such business operations commence. If Lessee’s right to abatement occurs during a free rent period which arises after the Commencement Date, Lessee’s free rent period shall be extended for the number of days that the abatement period overlapped the free rent period (the “Overlap Period”). Lessor shall have the right to extend the Expiration Date for a period of time equal to the Overlap Period if Lessor sends a notice to Lessee of such election within ten (10) days following the end of the extended free rent period. To the extent Lessee is entitled to abatement because of an event covered by Lease Sections 9 or 14, then the Eligibility Period shall not be applicable and any successor statutes or similar laws)Lessee shall be entitled to rent abatement, in as of the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodoccurrence of such event.

Appears in 2 contracts

Sources: Office Building Lease (Xencor Inc), Office Building Lease (Xencor Inc)

Base Rent. Notwithstanding anything (a) Subject to the contrary in provisions of this Paragraph 3.1, Tenant agrees to pay during the Lease, effective Term as of the New Term Commencement Date, monthly installments of Base Rent for the Premises the sums specified in the Basic Lease Information (as increased from time to time as provided in the Basic Lease Information or as may otherwise be provided in this Lease) ("Base Rent"). (b) Base Rent shall increase as set forth in the Basic Lease Information or as may otherwise be provided in this Lease. (c) Except as expressly provided to the contrary herein, Base Rent shall be payable in equal consecutive monthly installments, in advance, without deduction or offset, commencing on the Term Commencement Date and continuing on the first day of each calendar month thereafter. However, the first full monthly installment of Base Rent shall be payable upon Tenant's execution of this Lease. If the Term Commencement Date is a day other than the first day of a calendar month, then the Rent for the Partial Lease Month (the "Partial Lease Month Rent") shall be prorated based on a month of 30 days. The Partial Lease Month Rent shall be payable by Tenant in accordance with on the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all first day of the monthly installments calendar month next succeeding the Term Commencement Date. Base Rent, all forms of Base Rent due during the first additional rent payable hereunder by Tenant and all other amounts, fees, payments or charges payable hereunder by Tenant (18collectively, "Additional Rent") through eighth shall (8thi) months each constitute rent payable hereunder (and shall sometimes collectively be referred to herein as "Rent"), (ii) be payable to Landlord in lawful money of the New Term United States when due without any prior demand therefor, except as may be expressly provided to the contrary herein, and (i.e., September 1, 2011 through April 30, 2012iii) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), Landlord's Remittance Address set forth in the event Basic Lease Information or to such other person or to such other place as Landlord may from time to time designate in writing to Tenant. Any Rent or other amounts payable to Landlord by Tenant defaults under the Amended Lease beyond hereunder for any applicable notice and cure periodfractional month shall be prorated based on a month of 30 days.

Appears in 2 contracts

Sources: Office Lease (E Comnetrix Inc), Office Lease (Account4 Com Inc)

Base Rent. Except as otherwise expressly provided for in this Lease, Tenant shall pay to Landlord the Minimum Annual Rent in the Monthly Rental Installments in advance, without demand, deduction or offset, on the Commencement Date and on or before the first day of each and every calendar month thereafter during the Lease Term. The Monthly Rental Installments for partial calendar months shall be prorated. The parties agree that the Minimum Annual Rent shall be increased on each anniversary of the Commencement Date in an amount equal to the US Department of Labor, Bureau of Labor Statistics Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), Seasonally Adjusted (SA), U.S. City Average, All Items, 1982-84=100 (herein collectively defined as "BLS Index") for the twelve (12) month period ending two (2) months prior to the expiration of the current lease year (as used herein, a "lease year" shall refer to the twelve (12) month period beginning on the Commencement Date, or anniversary thereof, as applicable). Notwithstanding the foregoing, in no event shall the Minimum Annual Rent payable during any subsequent lease year as adjusted hereby be less than a one percent (1%) increase over the Minimum Annual Rent paid during the immediately preceding lease year or more than a two and one-half percent (2.5%) increase over the Minimum Annual Rent paid during the immediately preceding lease year. Monthly Rental Installments shall be an amount equal to one twelfth (1/12) of the Minimum Annual Rent. Based on a Commencement Date of August 1, 2009, the initial twelve (12) month period shall be June 2009 through May 2010. The parties agree that the initial "BLS Index" shall be calculated by summing the individual one (1) month percent changes for the twelve (12) month period described above. By way of example, as illustrated on the chart attached hereto as Exhibit I, the "BLS Index" for the period June 2008 through May 2009 calculates to an aggregate negative (-) 1.5%. Therefore, in this instance, the minimum 1.0% increase shall apply. If the Bureau of Labor Statistics shall discontinue publication of said "BLS Index" or shall adopt a new method of computing the "BLS Index", the parties agree to use a published price or cost index or published data as comparable as possible to the "BLS Index" prior to the change in such method. If the "BLS Index" has not been published for any of the time periods set forth above, Landlord shall use the most recent publication dates available. Notwithstanding anything contained in Section 1.01 (d) or (e), Landlord hereby excuses Tenant from the payment of Monthly Rental Installments for July 1, 2011 through October 31, 2011, July 1, 2012 through October 31, 2012, and July 1, 2015 through October 31, 2015 of the Lease Term. Notwithstanding anything to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws)contained herein, in the event Tenant defaults is in Default under the Amended this Lease beyond any applicable notice and cure periodperiod on the first day of the month of any excused rent payment, Tenant shall not be entitled to such excused rent. The payment of any such excused rent shall be deducted from any Accelerated Rent Difference or Accelerated Rent to which Landlord maybe entitled under Section 13.02.

Appears in 2 contracts

Sources: Office Lease (Tekelec), Office Lease (Tekelec)

Base Rent. Notwithstanding anything 4.1. During each Lease Year of the Lease Term, Tenant shall pay the Base Rent specified in Section 1.1. On the first day of the second Lease Year and on the first day of every Lease Year thereafter during the Lease Term (including the second and any succeeding Lease Year within any Renewal Term), the Base Rent in effect shall be adjusted as provided in Section 4.2. The Base Rent shall be due and payable in equal monthly installments, without notice, demand, setoff or deduction (except as otherwise expressly provided in this Lease), in advance on the first day of each month during each Lease Year. If the Rent Commencement Date is not the first day of a month, then the Base Rent from the Rent Commencement Date until the first day of the following month shall be prorated on a per diem basis, and Tenant shall pay such prorated installment of the Base Rent on the Rent Commencement Date. (a) Commencing on the first (1st) day of the second (2nd) Lease Year and on the first day of every Lease Year thereafter, the Base Rent shall be adjusted to reflect increases in the cost of living in the following manner: (1) The Revised Consumer Price Index for Urban Wage Earners and Clerical Workers, 1982-84 Base Year, All Items, Washington, D.C.-MD-VA Metropolitan Area (CPI-W) as published by the Bureau of Labor Statistics of the United States Department of Labor (herein referred to as the "Index"), which is published for the bimonthly period that includes the month immediately preceding the Lease Year for which such adjustment is being made (herein referred to as the "Adjustment Index"), shall be compared with the Index published for the period twelve (12) months prior thereto (herein referred to as the "Beginning Index"). If the Adjustment Index has changed from the Beginning Index, the percentage change between the Beginning Index and the Adjustment Index shall be determined. There shall be added to such percentage change three and one-half (3 1/2) percentage points, and the resulting sum shall be referred to herein as the "Escalation Factor." For example, if the Adjustment Index is two percent (2%) higher than the Beginning Index in any particular year, then the Escalation Factor for such year shall equal five and one-half percent (5.5%), and if the Adjustment Index is one percent (1%) lower than the Beginning Index in any particular year, then the Escalation Factor for such year shall equal two and one-half percent (2.5%). (2) The Escalation Factor determined in Step (1) above shall be multiplied by the Base Rent in effect during the immediately-preceding Lease Year to arrive at the amount of the increase in the Base Rent for such newly-commencing Lease Year. In no event, however, shall the amount of such increase be greater than two and 033/1000 percent (2.033%) of the Base Rent in effect during the immediately-preceding Lease Year. (3) The amount determined in Step (2) above (subject to the contrary limitation set forth in the Leaselast sentence of Step (2)) shall be added to the Base Rent in effect during the immediately-preceding Lease Year to arrive at the Base Rent payable for such newly-commencing Lease Year. (b) In no event shall the Base Rent payable during any Lease Year be less than the Base Rent payable during the immediately preceding Lease Year. (c) If the Index is changed so that a base year other than 1982-84 is used, effective as the Index used herein shall be converted in accordance with the conversion factor published by the Bureau of Labor Statistics of the New Term Commencement DateUnited States Department of Labor. If the Index is discontinued or otherwise revised during the Lease Term, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised. (d) Promptly after the adjustment in the Base Rent is determined for each Lease Year, Landlord shall submit to Tenant a statement setting forth the amount of such adjustment and the computations by which it was determined. Since the actual increase in the Base Rent may not be determined until after the start of a new Lease Year, until the actual increase in the Base Rent is determined, Tenant shall make monthly payments of Base Rent in an amount equal to the monthly installments of Base Rent payable during the immediately preceding Lease Year. Promptly after receipt of a statement from Landlord setting forth the actual increase in the monthly installments of Base Rent for such Lease Year, the Premises difference between the monthly payments paid by Tenant and the actual amount of Base Rent determined to be owing for such months shall be determined. If the actual amount determined to be owing is greater than Tenant's payments, the deficiency shall be paid by Tenant together with the next monthly installment of Base Rent due at least fifteen (15) days after the amount of the deficiency is determined. 4.3. All sums payable by Tenant under this Lease shall be paid to Landlord in accordance with legal tender of the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided United States by wire transfer (which Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the utilize for regular monthly installments of Base Rent due during and additional rent, provided Landlord has furnished Tenant with accurate wiring instructions) or by check (subject to collection), at the first (18) through eighth (8th) months address to which notices to Landlord are to be given or to such other party or such other address as Landlord may designate in writing. Landlord's acceptance of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default rent after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused it shall have become immediately due and payable by Tenant to shall not excuse a delay upon any subsequent occasion or constitute a waiver of any of Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period's rights.

Appears in 2 contracts

Sources: Lease Agreement (American Management Systems Inc), Lease Agreement (American Management Systems Inc)

Base Rent. Notwithstanding anything to 4.1 From and after the contrary in the Lease, effective as of the New Term Rent Commencement Date, Tenant shall pay the Base Rent in equal monthly installments in advance on the first day of each month during a Lease Year. Table of Contents 4.2 Concurrently with Tenant’s execution of this Lease, Tenant shall pay an amount equal to one (1) monthly installment of the Base Rent payable during the first Lease Year, which amount shall be credited toward the monthly installment of Base Rent payable for the Premises first (1st) full calendar month of the Lease Term following the Rent Commencement Date. If the Rent Commencement Date is not the first day of a month, then the Base Rent from the Rent Commencement Date until the first day of the following month shall be prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the monthly installment of the Base Rent payable during the first Lease Year, and Tenant shall pay such prorated installment of the Base Rent on the Rent Commencement Date. 4.3 All sums payable by Tenant under this Lease shall be paid to Landlord in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all legal tender of the monthly installments United States, without setoff, deduction or demand, except as otherwise provided herein, at the Landlord Payment Address, or to such other party or such other address as Landlord may designate in writing. Landlord’s acceptance of Base Rent rent after it shall have become due during the first (18) through eighth (8th) months and payable shall not excuse a delay upon any subsequent occasion or constitute a waiver of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount any of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”)Landlord’s rights hereunder. During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that If any default sum payable by Tenant under the Amended this Lease will cause Landlord is paid by check which is returned due to incur costs not contemplated hereunderinsufficient funds, the exact amount of such costs being extremely difficult and impracticable to ascertain. Thereforestop payment order, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cureor otherwise, then, : (a) such event shall be treated as a failure to pay such sum when due; and (b) in addition to all of Landlord’s other rights and remediesremedies of Landlord hereunder, Landlord shall be entitled (i) to impose a returned check charge of Fifty Dollars ($50.00) to cover Landlord’s administrative expenses and overhead for processing, and (ii) to require that all future payments be remitted by wire transfer, money order, or cashier’s or certified check. 4.4 Landlord and Tenant agree that no portion of the total unamortized sum Base Rent or other payment for the use or occupancy of such Abated Amount and the Forgiven Rent and Premises is or shall be based in whole or in part on the Abated Parking Charges (amortized on a straight line basis over net income or profits derived by the New Term) so conditionally excused shall become immediately due and payable by Tenant, any permitted assignee or sublessee of Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit or any other remedies available to Landlord at law person or in equity under applicable law (including, without limitation, entity from the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes Building or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodPremises.

Appears in 2 contracts

Sources: Office Lease Agreement, Office Lease Agreement (Dendreon Corp)

Base Rent. Notwithstanding anything (a) Tenant shall continue to pay monthly installments of Base Rent (plus all other sums due under the Lease) with respect to the contrary Current Premises, as set forth in the Lease, effective as through the Relocation Date. Provided that Tenant has timely vacated and surrendered to Landlord the Current Premises in the condition required by the Lease on or before five (5) days following the Relocation Date, Tenant shall be released from any and all obligations with respect to the Current Premises accruing after the Relocation Date. (b) Commencing on the Relocation Date, Tenant shall commence payment of Base Rent with respect to the New Premises at the rate of $38.00 per rentable square foot of the New Term Commencement Premises, i.e. approximately $199,386.00 per annum, plus applicable sales tax. The Base Rent per rentable square foot for each subsequent twelve (12)-month period shall be 103% of the Base Rent per rentable square foot for the prior twelve (12)-month period, commencing the first (1st) day of the thirteenth (13th) month following the Relocation Date. If the Relocation Date should be a date other than the first day of a calendar month, then the first installment of Base Rent for the New Premises shall be prorated by multiplying the regular monthly installments installment of Base Rent for the New Premises by a fraction, the numerator of which is the number of days from the Relocation Date through the final day of the calendar month in which the Relocation Date occurs and the denominator of which is the total number of days in the calendar month in which the Relocation Date occurs. (c) Base Rent for the Premises shall be payable by Tenant monthly in equal monthly installments as set forth above, in advance, together with applicable sales or use tax, in accordance with the following schedule: Period terms and conditions of New Term Monthly Installments of the Lease, without deduction or set-off, except to the extent, if any, expressly provided under the Lease, and shall be in addition to all other sums due under the Lease. (d) Notwithstanding anything to the contrary contained herein, Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under for the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during New Premises shall be abated for the first five (185) through eighth (8th) full calendar months of after the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) Relocation Date (such amount of abated Base Rent for the New Premises being hereinafter collectively referred to herein as the “Abated AmountRent”). During such Abatement Months, Tenant will still be responsible provided, however, (i) Tenant’s credit for the payment Abated Rent may be rescinded and reversed upon the expiration of all other monetary obligations due under the Amended Term of the Lease during such Abatement Months, if any. Tenant acknowledges that any event of default by Tenant under the Amended Lease will cause Landlord has occurred and remains uncured on the expiration of the Term of the Lease, whereupon Tenant shall be obligated to incur costs not contemplated hereunderpay Abated Rent within three (3) Business Days following Landlord’s written notice of demand, the exact amount and (ii) Tenant’s occupancy of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term Premises shall be in default after having been given notice and opportunity to cure, then, in addition subject to all of Landlord’s the provisions of the Lease during the period of Abated Rent, except for the obligation to pay Base Rent for the New Premises. If the Relocation Date should be a date other rights and remediesthan the first day of a calendar month, the total unamortized sum of such Abated Amount and the Forgiven Rent and then the Abated Parking Charges Rent shall apply to the first five (amortized on a straight line basis over 5) full calendar months after the New Termmonth in which the Relocation Date occurs, and Tenant shall be obligated to pay Base Rent for the partial month in which the Relocation Date occurs within three (3) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, Business Days following the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodRelocation Date.

Appears in 2 contracts

Sources: Lease (Catalyst Pharmaceuticals, Inc.), Lease (Catalyst Pharmaceutical Partners, Inc.)

Base Rent. Notwithstanding anything Base Rent shall equal the following amounts: *a period of nine (9) months Tenant shall pay Base Rent to Landlord in equal monthly installments ("Monthly Base Rent") in advance on the first day of each calendar month during the Term, without notice, except that the first monthly installment of Base Rent shall be paid upon execution of this Lease. If the Lease Commencement Date occurs on a date other than the first day of a calendar month, Tenant shall receive a credit equal to the contrary Monthly Base Rent multiplied by the number of days in said calendar month prior to the LeaseLease Commencement Date and divided by the number of days in such month, effective as which credit shall be applied toward the installment of Monthly Base Rent next due hereunder. Notwithstanding the foregoing, Landlord shall grant to Tenant a “rent holiday” from the payment of the New Term Commencement Date, monthly installments of Monthly Base Rent for the first nine (9) months following the Lease Commencement Date (the “Free Rent Period”). During such Free Rent Period, the Monthly Base Rent for the entire Premises shall be payable by Tenant in accordance with abated (such rental abatement being hereinafter referred to as the following schedule: “Free Rent Allowance”); provided, however, that (i) the Free Rent Period and the granting of New Term Monthly Installments of Base the Free Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is Allowance as provided hereunder shall not in default under affect the Amended Lease, Landlord hereby agrees Lease Commencement Date pursuant to ▇▇▇▇▇ Section 2.A. hereof or Tenant’s obligation to pay all of the monthly installments first installment of Base Rent due upon execution of this Lease as provided above, (ii) Tenant shall remain obligated during the first Free Rent Period to perform all of Tenant’s obligations under this Lease except as expressly set forth above (18including, but not limited to, the payment of all Additional Rent coming due under this Lease), and (iii) through eighth (8th) months in the event of any termination of this Lease by Landlord based upon a Default hereunder by Tenant, the then unamortized portion of Base Rent which would have otherwise been due and payable hereunder during the Free Rent Period in the absence of the New Term (i.e., September 1, 2011 through April 30, 2012) (Free Rent Allowance shall immediately become due and payable and any remaining Free Rent Allowance hereunder shall be of no force or effect. If the “Abatement Months”) first day following the last day of the Free Rent Period (such amount of abated Base Rent date being hereinafter collectively referred to as the “Abated AmountRent Commencement Date). During such Abatement Months) is a date other than the first day of a month, Tenant will still be responsible then Monthly Base Rent for the payment period commencing with and including the Rent Commencement Date and ending on and including the day prior to the first day of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under following month shall be prorated at the Amended Lease will cause Landlord to incur costs not contemplated hereunder, rate of one-thirtieth (1/30th) of the exact amount of such costs being extremely difficult Monthly Base Rent per day and impracticable to ascertain. Therefore, should Tenant at any time during the New Term shall be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant on the Rent Commencement Date and the first full payment of Monthly Base Rent shall be applied to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 the installment of Monthly Base Rent which is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, payable for the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in first full month immediately following the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodRent Commencement Date.

Appears in 2 contracts

Sources: Office Lease (Cellular Biomedicine Group, Inc.), Office Lease (Cellular Biomedicine Group, Inc.)

Base Rent. Notwithstanding anything to 4.1 From and after the contrary in the Lease, effective as of the New Term Lease Commencement Date, Tenant shall pay the Base Rent in equal monthly installments in advance on the first day of Base Rent for each month during a Lease Year. 4.2 Notwithstanding the Premises shall be payable foregoing, provided no Event of Default by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default has occurred under the Amended this Lease, Landlord hereby agrees grants to ▇▇▇▇▇ Tenant’s obligation to pay all Tenant an abatement of the Base Rent otherwise payable hereunder during the first Lease Year, which amount shall be credited toward the monthly installments of Base Rent due during payable for the first two (182) through eighth (8th) full calendar months of the New Lease Term (i.e., September 1, 2011 through April 30, 2012) commencing on the Lease Commencement Date (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated AmountPeriod”). During such Abatement MonthsConcurrently with Tenant’s execution of this Lease, Tenant will still shall pay an amount equal to one (1) monthly installment of the Base Rent payable during the first Lease Year, which amount shall be responsible credited toward the monthly installment of Base Rent payable for the payment first full calendar month of all other monetary obligations due under the Amended Lease Term following the Abatement Period. If the Lease Commencement Date is not the first day of a month, then the Base Rent from the Lease Commencement Date until the first day of the following month shall be prorated on a per diem basis at the rate of one thirtieth (1/30th) of the monthly installment of the Base Rent payable during the first Lease Year, and Tenant shall pay such prorated installment of the Base Rent on the day following the expiration of the Abatement Months, if any. Tenant acknowledges that any default Period. 4.3 All sums payable by Tenant under this Lease shall be paid to Landlord in legal tender of the Amended United States, without setoff, deduction or demand (except as expressly set forth in this Lease), at the Landlord Payment Address, or to such other party or such other address as Landlord may designate in writing. Landlord’s acceptance of rent after it shall have become due and payable shall not excuse a delay upon any subsequent occasion or constitute a waiver of any of Landlord’s rights hereunder. If any sum payable by Tenant under this Lease will cause Landlord is paid by check which is returned due to incur costs not contemplated hereunderinsufficient funds, the exact amount of such costs being extremely difficult and impracticable to ascertain. Thereforestop payment order, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cureor otherwise, then, : (a) such event shall be treated as a failure to pay such sum when due; and (b) in addition to all of Landlord’s other rights and remediesremedies of Landlord hereunder, Landlord shall be entitled (i) to impose a returned check charge of Fifty Dollars ($50.00) to cover Landlord’s administrative expenses and overhead for processing, and (ii) to require that all future payments be remitted by wire transfer, money order, or cashier’s or certified check. 4.4 Landlord and Tenant agree that no rental or other payment for the total unamortized sum use or occupancy of the Premises is or shall be based in whole or in part on the net income or profits derived by any person or entity from the Building or the Premises. Tenant will not enter into any sublease, license, concession or other agreement for any use or occupancy of the Premises which provides for a rental or other payment for such Abated Amount and use or occupancy based in whole or in part on the Forgiven Rent and net income or profits derived by any person or entity from the Abated Parking Charges (amortized on a straight line basis over Premises so leased, used or occupied. Nothing in the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; providedforegoing sentence, however, Tenant acknowledges and agrees that nothing shall be construed as permitting or constituting Landlord’s approval of any sublease, license, concession, or other use or occupancy agreement not otherwise approved by Landlord in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, accordance with the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodprovisions of Article VII.

Appears in 2 contracts

Sources: Office Lease Agreement (IMARA Inc.), Office Lease Agreement (IMARA Inc.)

Base Rent. Notwithstanding anything The first month’s Base Rent and Operating Expenses shall be due and payable upon execution of this Lease, which amounts shall be applied to the contrary first month when such amounts become due and payable. Tenant shall pay to Landlord in the Leaseadvance, effective as of the New Term Commencement Datewithout demand, subsequent monthly installments of Base Rent on, or before, the first day of each calendar month following the Commencement Date (prorated for the Premises any fractional calendar month). 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 payable made by Electronic Fund Transfer or Automated Clearing House. The obligation of Tenant in accordance with to pay Base Rent, Operating Expenses and other sums to Landlord and the following schedule: Period obligations of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Landlord under this Lease are independent obligations. Tenant is shall not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments ▇, reduce, or set-off any amounts due and payable hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any installment of Base Rent Rent, Operating Expenses, or other amounts due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible and payable for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, thenmore than 5 days, in addition to all of Landlord’s other rights and remediesremedies (and not as a penalty), the total unamortized sum Tenant shall pay to Landlord on demand a late charge equal to eight percent (8%) of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately delinquent sum. If Tenant is delinquent in any monthly installment of Base Rent, Operating Expenses, or other amount due and payable by herein beyond 5 days after the due date thereof, and after written notice as provided below, Tenant shall pay to LandlordLandlord on demand a late charge equal to eight percent (8%) of such delinquent sum. 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 given at any time during the delinquency); provided, however, Tenant acknowledges that such notice shall not be required more than twice in any 12-month period. The provision for such late charge shall be in addition to all of Landlord’s other rights and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord hereunder or at law and shall not be construed as a penalty or as limiting Landlord’s remedies in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodmanner.

Appears in 2 contracts

Sources: Lease Agreement (RayzeBio, Inc.), Net Lease Agreement (RayzeBio, Inc.)

Base Rent. Subtenant shall pay Base Rent for the Expansion Premises commencing on April 1, 2021 (the “Expansion Rent Commencement Date”) in the amounts set forth on Exhibit A hereto and in the manner described in Section 3(a)(ii) of the Sublease; provided, however, Subtenant shall deliver the first month’s payment of Base Rent with respect to the Expansion Premises to Sublandlord concurrently with its execution of this Amendment. Subtenant shall continue to pay Base Rent for the Existing Premises in the amounts and in the manner described in Section 3(a) of the Sublease through March 31, 2021. On and after April 1, 2021, Subtenant shall pay Base Rent for the Existing Premises in the amounts set forth on Exhibit A hereto and in the manner described in Section 3(a)(ii) of the Sublease. Notwithstanding anything to the contrary herein, if a shelter-in-place order (an “Order”) issued by a federal, California state or local governmental agency with jurisdiction over the Expansion Premises prohibits Subtenant from either (i) occupying the Expansion Premises or (ii) performing improvements and/or installing furniture, fixtures and equipment in the LeaseExpansion Premises and Subtenant does not actually occupy the Expansion Premises such that it delays Subtenant’s initial occupancy (a “Delay Event”), effective as then the Expansion Rent Commencement Date shall be delayed one day for each day Subtenant’s occupancy of the New Term Expansion Premises is delayed beyond April 1, 2021 as a result of such Delay Event. Notwithstanding the foregoing, in no event shall the Expansion Rent Commencement DateDate be delayed beyond May 31, monthly installments 2021. For the avoidance of Base Rent for doubt, as used herein “occupying” means all personnel who can perform their job at home are permitted to return to their places of employment in office buildings. As of the Premises shall be payable date hereof, the Order issued by Tenant in accordance with the following schedule: Period County of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to Santa ▇▇▇▇▇ Tenant’s obligation Public Health Department dated October 5, 2020 which requires that all businesses require that “all personnel carry out their job functions remotely if they are able to pay all of so”, is considered an Order which prohibits occupying the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodExpansion Premises.

Appears in 2 contracts

Sources: Sublease (Rubrik, Inc.), Sublease (Rubrik, Inc.)

Base Rent. Notwithstanding anything For the first three (3) years of the Term, Tenant shall pay an annual rent (“Base Rent”) in the amount of One Million Seven Hundred and Fifty Thousand Dollars ($1,750,000), without deduction, set off, prior notice or demand from Landlord (the “Initial Base Rent”). Thereafter, for the next two (2) subsequent years of the Term, if the total earnings before interest, taxes, depreciation and amortization (“EBITDA”) from the Medical Business is equal to or greater than five percent (5%) of the net revenue for the immediately preceding twelve- (12-) month period prior to the contrary annual anniversary renewal date of the Term, Tenant shall pay Base Rent in the Lease, effective as amount of Two Million Nine Hundred and Fifty Thousand Dollars ($2,950,000) (the “Increased Base Rent”); otherwise Tenant shall continue to pay the Initial Base Rent. Beginning in the sixth (6th) year of the New Term (on the fifth [5th] year anniversary of the Commencement Date), Tenant shall pay Base Rent in the amount of the Increased Base Rent. Base Rent will be payable on the Commencement Date and on each anniversary thereafter until the Lease expires or is terminated in accordance with the terms of this Lease. For each successive year during the Term after the fifth (5th) year anniversary of the Commencement Date, monthly installments the Base Rent shall be equal to the product of (a) the Base Rent for the Premises immediately preceding year multiplied by (b) the CPI Adjustment Factor, provided that in no event will the Base Rent ever be an amount less than the Initial Base Rent. In the event this Lease is terminated prior to the end of the Term, Landlord shall return a pro-rata share of the Base Rent to Tenant based on the date Tenant vacates the Premises. Landlord and Tenant acknowledge and agree that from and after the first date on which the Base Rent is the Increased Base Rent, the difference between the Base Rent paid by Tenant and the Initial Base Rent (which difference shall be payable by Tenant in accordance with One Million Two Hundred Thousand Dollars for the following schedule: Period first such year of New Term Monthly Installments of the Term; and adjusting the Initial Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not by the CPI Adjustment Factor in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all subsequent years of the monthly installments of Term as the Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”is so adjusted) (such amount of abated Base Rent being hereinafter collectively referred to as difference, cumulatively, the “Abated AmountRent Delta). During such Abatement Months, Tenant will still ) shall be responsible for deemed and constitute Tenant’s contribution to the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to LandlordRestricted Capital Fund; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws)and, in the event that Tenant defaults under exercises Tenant’s ROFR or the Amended Lease beyond any applicable notice and cure periodPurchase Option, the Rent Delta shall be credited toward the purchase price (with respect to Tenant’s ROFR) or the Purchase Option Price (with respect to the Purchase Option) paid by Tenant at closing of such Transfer.

Appears in 2 contracts

Sources: Lease Agreement, Lease

Base Rent. Notwithstanding anything 4.1 Tenant shall pay Base Rent in advance, in equal monthly installments, with the first (1/st/) payment to be made simultaneously with Tenant's execution of this Lease, and the contrary second and subsequent monthly payments to be made on the first day of the third month in the Leasefirst Lease year and each and every calendar month following the Rent Commencement Date during the Lease Term. If the Lease Term begins on a date other than on the first (1/st/) day of a month, effective as Base Rent for the month of commencement shall be prorated at the rate of one thirtieth (1/30th) of the New Term Commencement Date, monthly installments installment of Base Rent for each day. Tenant will pay all rent to Landlord, at the Premises office of Landlord, or to such other party or to such other address as Landlord may designate from time to time by written notice to Tenant. 4.2 Commencing with the third Lease Year and for each subsequent Lease Year during the Lease Term, Base Rent shall be increased annually by an amount equal to three percent (3%) multiplied by the Base Rent payable during the immediately preceding Lease Year. 4.3 All sums payable by Tenant under this Lease shall be payable by Tenant without demand, set-off or deduction except as specifically set forth herein, and shall be paid to Landlord in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not immediately available funds in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all legal tender of the monthly installments United States by wire transfer or by check (subject to collection), at the address to which notices to Landlord are to be given or to such other party or such other address as Landlord may designate in writing. Landlord's acceptance of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default rent after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused it shall have become immediately due and payable by shall not excuse a delay upon any subsequent occasion or constitute a waiver of any of Landlord's rights. Tenant will deliver rent to Landlord's lender upon lender notice to Tenant from lender instructing Tenant to Landlord; provideddeliver such rent to lender, however, and Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available shall incur no liability to Landlord at law for making any such payments to lender. 4.4 All costs and expenses which Tenant assumes or in equity under applicable law (includingagrees to pay to Landlord pursuant to this Lease, including without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 Operating Expenses and any successor statutes or similar lawsReal Estate Taxes (both as hereinafter defined), shall be deemed to be additional rent ("Additional Rent") and, in the event of nonpayment thereof, Landlord shall have all the rights and remedies provided for in case of nonpayment of rent, including assessment of interest and late payment fees. Base Rent and Additional Rent are sometimes referred to collectively herein as "rent." 4.5 If Tenant defaults under fails to make any payment of the Amended Base Rent, Additional Rent or any other sum payable to Landlord on or before the date which is three (3) days after such payment is due and payable (without regard to any grace period specified in the Lease), Tenant shall pay a late charge of five percent (5%) of the amount unpaid. In addition, if Tenant's failure to make such payment continues for more than thirty (30) days after the date such payment is due and payable, such payment and such late charge shall bear interest at the Default Rate as set forth in this Lease beyond any applicable notice from the date such payment was due to the date of payment thereof. Such late charge and cure periodinterest shall constitute Additional Rent due hereunder, shall be paid with the next monthly installment of Base Rent coming due hereunder, shall constitute agreed liquidated damages and not penalties, and shall be in addition to, and not in lieu of, all other rights and remedies provided to Landlord in this Lease, at law, or in equity. 4.6 Base Rent for the thirteenth (13/th/) and thirty-seventh (37/th/) months of this Lease shall be abated.

Appears in 2 contracts

Sources: Deed of Office Lease (Mercator Software Inc), Deed of Office Lease (Mercator Software Inc)

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the amount set forth on the second page of this Lease, effective 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 of hereafter defined) shall be due and payable on the New Term Commencement Datedate 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 first day of each calendar month succeeding the Rent Commencement Date. Payments of Base Rent for the Premises 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 Tenant written notice delivered in accordance with herewith. Any change in the following schedule: Period address for payment of New Term Monthly Installments rent shall be delivered by Landlord to Tenant at least fifteen (15) days prior to the effective date of such change in address. The obligation of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to a▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent , reduce, or set-off any rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anyhereunder except where expressly provided in this Lease. Tenant acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs casts being extremely difficult and impracticable impractical to ascertaindetermine. Therefore, should if Tenant at is delinquent in any time during monthly installment of Base Rent, Operating Expenses or other sums due and payable hereunder after five (5) days from Tenant’s 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 New Term costs that Landlord will incur by reason of such late payment by Tenant. The provision for such late charge shall be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord hereunder or at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodshall not be construed as a penalty.

Appears in 2 contracts

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

Base Rent. 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 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 first month's rent and a like monthly installment shall be due and payable on or before the 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 in the Leasecontrary, effective as if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the New Term Premises to the Tenant on the Rent Commencement Date, monthly installments this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, nor shall the expiration of Base Rent for the Premises term be extended, but all rent shall be abated until Landlord delivers possession. All base rent, additional rent and other sums payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Leasepursuant to this Lease are payable without demand and without any reduction, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e.abatement, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law counterclaims or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodsetoff.

Appears in 2 contracts

Sources: Lease Agreement (Insignia Systems Inc/Mn), Commercial Lease (Insignia Systems Inc/Mn)

Base Rent. Notwithstanding anything to Base Rent for the contrary month in which the LeaseRent Commencement Date occurs (or, effective as if the Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the New Term 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) via federally insured wire transfer (including ACH) pursuant to the Premises shall be payable wire instructions provided by Tenant in accordance with the following schedule: Period of New Term Monthly Installments Landlord. Payments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for any fractional calendar month shall be prorated. The obligation of Tenant is not in default to pay Base Rent and other sums to Landlord and the obligations of Landlord under the Amended Lease, Landlord hereby agrees this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation ▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained in this Lease, so long as Tenant is not then in Default (as defined in Section 20) under this Lease, Tenant shall not be required to pay all Base Rent with respect to the Premises for the period commencing on the first day of the monthly installments of Base 2nd full calendar month immediately following the Rent due during Commencement Date through the first (18) through eighth (8th) months last day of the New Term (i.e., September 1, 2011 through April 30, 2012) 7th full calendar month immediately following the Rent Commencement (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated AmountPeriod”). During such Tenant shall resume paying Base Rent with respect to the entire Premises on the day immediately following the expiration of the Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Period. Net Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Net 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.9877 ▇▇▇▇▇▇/Cue - Page 4

Appears in 2 contracts

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

Base Rent. Notwithstanding anything (A) Except as expressly set forth herein, Tenant shall pay to Landlord during the contrary Term of the Lease the Base Rent in the Leaseannual amounts set forth in Section 1 above, effective as without notice or demand, in equal monthly installments, in advance on the first day of each calendar month of the New Term. The first month’s installment of the Base Rent shall be payable on the date hereof. If the Term Commencement Datecommences other than on the first day of a calendar month, monthly then the installments of Base Rent for the Premises first calendar month of the Term shall be adjusted proportionately based upon the actual number of days in such month. (B) Except as expressly set forth herein, Base Rent, Additional Rent and all other sums payable by Tenant to Landlord hereunder shall be paid, without set-off or deduction, in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all lawful currency of the monthly installments United States of Base Rent due during America to Landlord at the first (18) through eighth (8th) months of the New Term (i.e.address set forth in Section 1 hereof, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (or at such amount of abated Base Rent being hereinafter collectively referred other address as Landlord may from time to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anytime designate in writing to Tenant. Tenant hereby acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of rent or other sums due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being which will be extremely difficult and impracticable to ascertain. ThereforeSuch costs include, should but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of rent or any sum due from Tenant at any time during the New Term shall not be in default after having been given notice and opportunity to cure, then, in addition to all of received by Landlord or Landlord’s other rights and remediesdesignee within five (5) days after said amount is due, the total unamortized sum then Tenant shall pay to Landlord a late charge of five (5%) percent of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlordoverdue amount; provided, however, with respect to the first late payment of rent or sum due in any twelve (12) month period, such late charge shall not be due unless Tenant acknowledges fails to pay Landlord the amount due within five (5) business days after Tenant has received written notice from Landlord of the amount past due. The parties hereby agree that such late charges represent a fair and agrees reasonable estimate of the cost that nothing Landlord will incur by reason of the late payment by Tenant. Acceptance of such late charges by the Landlord shall in this Section 2 is intended no event constitute a waiver of Tenant’s default with respect to limit such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodgranted hereunder.

Appears in 2 contracts

Sources: Sublease Agreement, Sublease Agreement (Verrica Pharmaceuticals Inc.)

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the amount set forth above. The first month's Base Rent, the Security Deposit, and 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, effective as of the New Term Commencement DateTenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent for on or before the Premises shall be payable by Tenant in accordance with first day of each calendar month succeeding the following schedule: Period of New Term Monthly Installments Commencement Date. Payments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for any fractional calendar month shall be prorated. All payments required to be made by Tenant is not to Landlord hereunder (or to such other party as Landlord may from time to time specify in default 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 the Amended Lease, Landlord hereby agrees this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the ▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installments installment of Base Rent due during 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 obligated to pay the first (18) through eighth (8th) months late charge until Landlord has given Tenant 5 days written notice of the New Term delinquent payment (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still which may be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 given at any time during the New Term delinquency); provided, however, that Landlord shall not be required to give such notices more than twice in default after having been given notice and opportunity to cure, then, any calendar year or 4 times over the term of the Lease. The provision for such late charge shall be in addition to all of Landlord’s 's other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord hereunder or at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodshall not be construed as a penalty.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything Commencing upon the Ground Lease Commencement Date and continuing through the earlier of (1) eighteen (18) months following the Ground Lease Commencement Date or (2) the date the Tenant provides written notice to the contrary Landlord that Tenant has completed its environmental site preparation work (the “Base Rent Adjustment Date”), the base rent for the Site (“Base Rent”) shall BE [***] per annum, payable in equal installments of [***] per month and after the LeaseBase Rent Adjustment Date shall thereafter be [***] per annum, effective payable in equal installments of [***] per month, adjusted upward five years after the date on which the Base Rent increases to [***] per annum and every five (5) years thereafter during the Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period from the New Term Base Rent Adjustment Date through the date five years thereafter, and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any payment under this Ground Lease shall hereinafter be referred to as a “CPI Adjustment.” Except for the first payment of Base Rent hereunder on the Ground Lease Commencement Date, monthly installments of Base Rent for will be due each month on the Premises 1st day of the month and shall be payable by Tenant in accordance with the following schedule: Period 15th day of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlordmonth; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 that: (i) the first payment of Base Rent shall be due ten (10) days following the Ground Lease Commencement Date and, if the Ground Lease Commencement Date is intended to limit any a date other remedies available to Landlord at law or in equity under applicable law (including, without limitationthan the first day of the month, the remedies under Civil Code Section 1951.2 and/or 1951.4 first payment of Base Rent shall be in a prorated amount for the period of time between the Ground Lease Commencement Date and the next following first day of the month; and (ii) the first payment of Base Rent due upon the commencement of any successor statutes or similar laws)new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period in order to permit the Tenant to calculate the CPI Percentage Increase, as set forth below and (iii) the last payment of Base Rent shall be in a prorated amount for the event Tenant defaults under period of time between the Amended Lease beyond any applicable notice immediately preceding first day of the month and cure periodthe last day of the Term.

Appears in 2 contracts

Sources: Ground Lease Agreement (Venture Global, Inc.), Ground Lease Agreement (Venture Global, Inc.)

Base Rent. Notwithstanding anything to From and after the contrary in the Lease, effective as of the New Term Initial Premises Commencement Date, monthly installments during each month of Base Rent the Term of this Sublease, Subtenant shall pay as base rent for the Premises shall be payable by Tenant in accordance with the following schedule(“Base Rent”) as follows: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * 61 - 72 115,466 $5.88 $678,830.07 *Provided Tenant that Subtenant is not in default under beyond applicable notice and cure periods of the Amended Leaseterms and conditions of this Sublease, Landlord hereby Sublandlord agrees to ▇▇▇▇▇ Tenant’s the obligation of Subtenant to pay all Base Rent for months 7-18 of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated AmountConditional Rent”). During Notwithstanding the foregoing, however, during such Abatement Monthsabatement period, Tenant will still Subtenant shall be responsible for the payment of all other monetary obligations due under Additional Rent allocable to the Amended Lease during such Abatement Months, if anyPremises then subleased hereunder. Tenant acknowledges that any In the event of a default by Tenant under Subtenant beyond any applicable notice and cure periods and the Amended Lease will cause Landlord expiration or earlier termination of this Sublease, Sublandlord shall be entitled to incur costs not contemplated hereunderrecover the unamortized portion of the Conditional Rent (i.e., the exact amount unamortized portion of such costs being extremely difficult the Conditional Rent shall be deemed not to have been abated, and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; providedas unpaid Rent earned, however, Tenant acknowledges and agrees but due at the time of such default). *The above chart assumes that nothing in the Expansion Premises Commencement Date occurs on the first day of the twenty-fifth (25th) month of the Term of this Section 2 is intended to limit any other remedies available to Landlord at law Sublease. If the Expansion Premises Commencement Date occurs on an earlier or in equity under applicable law (including, without limitationlater date, the remedies under Civil Code Section 1951.2 and/or 1951.4 above chart shall be deemed adjusted to provide for Subtenant to pay Base Rent on the increased square footage commencing on the Expansion Premises Commencement Date only. Base Rent and any successor statutes Additional Rent shall be paid to Sublandlord without demand, deduction, set-off or similar laws)counterclaim, in advance on the first day of each calendar month during the Term of this Sublease, and in the event Tenant defaults of a partial rental month, Base Rent and Additional Rent shall be prorated on the basis of a 365-day year. If Base Rent or Additional Rent abates under the Amended Master Lease beyond any applicable notice as to a portion of the Premises as to which this Sublease has commenced, Base Rent or Additional Rent, as the case may be, shall ▇▇▇▇▇ on a pro-rata basis under this Sublease. If Sublandlord does not deliver the Lab Space to Subtenant in the required condition on or before December 31, 2020, Subtenant shall be entitled to a day-for-day credit in its Base Rent and cure periodAdditional Rent obligations (calculated on a pro-rata rentable square foot basis) for the period commencing on January 1, 2021 and ending on the date on which Sublandlord delivers the Lab Space to Subtenant in the required condition.

Appears in 2 contracts

Sources: Sublease (Sutro Biopharma, Inc.), Sublease (Five Prime Therapeutics, Inc.)

Base Rent. Notwithstanding anything As rent for the Premises during each year of the Term, Tenant shall pay to Landlord an annual base rent of Two Hundred Seventy-Five Thousand Six Hundred Eighty-Two Dollars and Ninety-Six Cents ($275,682.96) (herein "Base Rent") in equal monthly installments of Twenty-Two Thousand, Nine Hundred Seventy-Three Dollars and Fifty-Eight Cents ($22,973.58) each, in advance on the first day of each calendar month during the Term, and without deduction, setoff or demand. In addition to the contrary Base Rent, if the Term should commence on a day other than the first day of a calendar month, Tenant shall pay to Landlord upon the Commencement Date, a sum equaling that percentage of the monthly rent installment which equals the percentage of such calendar month falling within the Term. Notwithstanding the foregoing and anything contained in this Lease to the contrary, Base Rent hereunder shall be abated and not payable by Tenant for that period of the Term commencing with the Commencement Date and continuing through the one hundred eighty-third calendar day of the Term. This period of Base Rent equals One Hundred Thirty-Seven Thousand Eight Hundred Forty-One Dollars and Forty-Eight Cents ($137,841.48) which for the purposes of this Lease shall be the "Rent Abatement". In consideration of the Rent Abatement, if Tenant for any reason materially defaults under this Lease during the initial five-year Term set forth in Section 2.1 hereof, or if Tenant shall fail to complete the initial five-year Term of this Lease, effective then in addition to paying all rents and other sums to which Landlord shall have a claim against Tenant as a result of said default, Tenant shall owe and be indebted to Landlord in that amount derived by multiplying the Rent Abatement by a fraction, the numerator of which shall be the number of unexpired months remaining within the initial Term as of the New Term Commencement Date, monthly installments date of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any a material default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, and the exact denominator of which shall equal the total number of months within the initial Term, which amount Tenant covenants and agrees to pay over to Landlord on the date of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in a material default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodhereunder.

Appears in 2 contracts

Sources: Lease Agreement (Digitalnet Holdings Inc), Lease Agreement (Digitalnet Holdings Inc)

Base Rent. Notwithstanding anything Tenant shall pay to Landlord the contrary Base Rent set forth in the Basic Lease Information (the “Base Rent”), without prior notice or demand, and without offset or deduction except as expressly provided in this Lease, effective as on the first day of each and every calendar month during the Term. Base Rent for any partial month at the beginning or end of the New Term Commencement Dateshall be prorated based on the actual number of days in the month, monthly installments of and Base Rent for the Premises first month payable hereunder (subject to Tenant’s right to receive Abated Base Rent as set forth below) shall be payable by paid to Landlord within ten (10) days of Landlord’s and Tenant’s delivery of their signed counterparts to this Lease and ▇▇▇▇▇▇’s receipt of Landlord’s wiring instructions. Notwithstanding anything in this Lease to the contrary, subject to the terms of this Section 3.1, Tenant shall be entitled to an abatement of fifty percent (50%) of Base Rent due with respect to the Premises in the amount of $91,217.00 per month, for the first ten (10) full calendar months of the initial Term (the “Base Rent Abatement Period”). The maximum total amount of monthly Base Rent abated with respect to the Main Premises and Storage Space in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) foregoing shall equal $912,170.00 (the “Abatement Months”) (such amount of abated Abated Base Rent being hereinafter collectively referred to as the “Abated AmountRent”). During such Abatement Months, If Tenant will still be responsible for the payment of all other monetary obligations due defaults under the Amended this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult beyond applicable notice and impracticable to ascertain. Therefore, should Tenant cure periods at any time during the New Term Base Rent Abatement Period and fails to cure such default within any applicable cure period under the Lease, then Tenant’s right to receive the Abated Base Rent shall toll (and Tenant shall be required to pay Base Rent during such period of any Tenant default) until Tenant has cured, to Landlord’s reasonable satisfaction, such default and at such time Tenant shall be entitled to receive any unapplied Abated Base Rent until fully applied. The payment by Tenant of any portion of the Abated Base Rent in the event of a default after having been given notice and opportunity to cure, then, in addition to all shall not limit or affect any of Landlord’s other rights and remediesrights, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant pursuant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord Lease or at law or in equity under applicable law (includingequity. Only Base Rent shall be abated pursuant to this Section, without limitationas more particularly described herein, and all other Rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodprovisions of this Lease.

Appears in 2 contracts

Sources: Lease Agreement (Attovia Therapeutics, Inc.), Lease Agreement (Attovia Therapeutics, Inc.)

Base Rent. Notwithstanding anything Subject to any Tenant Delay (which would result in Tenant paying Rent attributable to the contrary number of days of Tenant Delay, as set forth below, offset day for day by the number of days of delay caused by Landlord), Tenant Allowance (as defined in the Work Letter) credits or other provisions set forth in this Lease, effective as of commencing on the New Term Phase One Rent Commencement Date, monthly installments and Phase Two Rent Commencement Dates, respectively, and throughout the Term of Base Rent this Lease, Tenant shall pay base rental for the Premises shall be payable by Tenant to Landlord as defined in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not Schedule above in default under the Amended Leaseequal monthly installments, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (( the “Abatement MonthsBase Rent”) (such amount of abated Base Rent being and Additional Rent, as defined below, are hereinafter collectively referred to as the Abated AmountRent”). During such Abatement MonthsNotwithstanding the foregoing, if Landlord is unable to deliver possession of the Phase One Premises to Tenant on or before January 1, 2004 due to a Tenant Delay, then in addition to the Phase One Rent Commencement Date obligations, Tenant will still shall pay Landlord on the Phase One Rent Commencement Date, Base Rent only in the amount attributable to the number of days in the Tenant Delay as Landlord’s sole remedy therefor. Landlord shall deliver possession of the Phase One Premises to Tenant upon substantial completion of the improvements thereto. If Landlord substantially completes the Phase One Premises prior to January 1, 2004, and/or the Phase Two Premises prior to December 1, 2004, and Tenant or its approved subtenant occupies either of such Premises, Tenant’s or its approved subtenant’s early occupancy of the Phase One Premises and Phase Two Premises shall be responsible upon all of the terms and conditions of this Lease except, as to the applicable space, Tenant shall pay no Base Rent or Additional Rent with respect to such early occupancy period, but Tenant shall be liable for the payment cost of utilities consumed by Tenant in the Phase One Premises and/or Phase Two Premises prior to January 1, 2004 and December 1, 2004, respectively. Should the Phase Two Rent Commencement Date be delayed beyond December 1, 2004 as the result of a Tenant Delay, then in addition to the Phase Two Rent Commencement Date obligations, Tenant shall pay Landlord on the Phase Two Rent Commencement Date, Base Rent only in the amount attributable to the number of days in the Tenant Delay for the Phase Two Premises as Landlord’s sole remedy therefor. Unless otherwise set forth in this Lease, each monthly installment of Rent shall be due and payable promptly on the first day of each month, in advance, during the Term of this Lease. Tenant shall pay to Landlord all Base Rent, Additional Rent, and all other monetary obligations charges due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default and owing by Tenant under the Amended this Lease will cause Landlord to incur costs not contemplated hereunderwithout, the exact amount of such costs being extremely difficult and impracticable to ascertain. Thereforecounterclaim, should Tenant at any time during the New Term be in default after having been given notice and opportunity to curededuction, thenprior demand, or set off, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlordlegal tender; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 the foregoing is not intended to limit any other remedies available to waive Tenant’s rights against Landlord at law or in equity in the event of a breach by Landlord hereunder beyond applicable notice and cure periods. In the event that the Phase One Rent Commencement Date or Phase Two Commencement Date shall commence on a date other than the first day of the month, Rent for such month shall be prorated and such prorated amount (which shall be equal to the monthly Base Rent stated above and Additional Rent multiplied by a fraction, the numerator of which shall be the number of days from the Phase One Rent Commencement Date or the Phase Two Rent Commencement Date, as applicable, through the end of such month, inclusive of both days, and the denominator of which shall be the number of days in such month) shall be due and payable on the Phase One Rent Commencement Date and (unless otherwise provided in this Lease) Phase Two Rent Commencement Date, respectively. All payments of Rent or any other sum due under applicable law (includingthis Lease shall be made payable to “▇▇▇▇▇▇ New Manchester Building One, L.L.C.” and shall be delivered by Tenant to Landlord, on or before the due date, as follows: c/o Carter & Associates ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or at such other place as Landlord may designate from time to time in writing to Tenant. Tenant shall be entitled to rely on any instructions from Landlord’s lenders to make payment of Rent to such lenders, in lieu of Landlord, without limitationTenant incurring any liability to Landlord therefor and in such event, shall satisfy Tenant’s corresponding Rent obligations to Landlord in such paid amounts. In the remedies under Civil Code Section 1951.2 and/or 1951.4 event Tenant shall fail to pay a monthly installment of Rent within five (5) days of the due date, a late charge of one percent (1%) of the amount due shall be paid to Landlord for each such late payment and any successor statutes or similar laws)the same shall be treated as Additional Rent. In addition, in the event that any check from Tenant defaults for payment due under this Lease is returned by a bank for any reason, Tenant shall pay to Landlord a returned check charge of One Hundred Dollars ($100.00) together with such other fee charged by the Amended bank returning the check. Should Tenant present a check to Landlord that is returned from Tenant’s bank for any reason, Landlord reserves the right to demand that all future rental payments be made in the form of cashiers’ checks. Tenant also agrees to pay Landlord interest at a rate of ten percent (10%) per annum (or, in any event hereunder, the maximum rate permitted by Applicable Law, whichever is less) on all Rent or other sums due hereunder that are not paid when such amounts are due and payable. All late charges, any returned check charges and any interest shall become Additional Rent and shall be due and payable immediately along with such other Rent or other sums due hereunder then in arrears. Nothing contained herein shall require Landlord to accept any tender of payment from Tenant for less than the full amount then due under this Lease, including any and all interest and attorneys’ fees that may then be due from Tenant in accordance with the express terms of this Lease. Landlord may elect to accept less than the full amount then due from Tenant hereunder; however, no payment by Tenant or receipt by Landlord of such lesser amount shall be deemed to be other than payment on account, and no restrictive endorsement or statement on any check or payment shall be deemed to alter the express provisions of this Lease, nor constitute an accord and satisfaction. Landlord may accept less than the full amount then due from Tenant without prejudice to Landlord’s right to recover the balance of the full amount then due, or to pursue any other remedies then available to Landlord under this Lease beyond or Applicable Law. In all events, including but not limited to Landlord’s acceptance of a partial payment from Tenant, any applicable notice payment accepted by Landlord from Tenant may be applied first to retire the oldest receivables due from Tenant hereunder, then to any current rental or other payment then due hereunder, and cure periodthe balance, if any, will be returned promptly to Tenant. Any payments or charges due from Tenant to Landlord under this Lease shall be considered Rent for all purposes of this Lease.

Appears in 2 contracts

Sources: Standard Industrial Lease Agreement, Standard Industrial Lease (Wells Real Estate Investment Trust Ii Inc)

Base Rent. 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 check for currency which, at the time of payment, is legal tender for private or public debts in the 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 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. All other payments or adjustments required to be made under the terms of this Lease that require proration on time basis shall be prorated on the same basis. Notwithstanding anything to the contrary in the Lease, effective as contained herein and provided that Tenant faithfully performs all of the New Term Commencement Date, monthly installments terms and conditions of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”[***] Premises only). During such Abatement Months[***] period, Tenant will shall still be responsible for the payment of all of its other monetary obligations due under this Lease. In the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any event of default by Tenant under the Amended terms of this Lease will cause that results in early termination pursuant to the provisions of Article 19 of this Lease, then as part of the recovery set forth in Article 19 of this Lease, Landlord shall be entitled to incur costs not contemplated hereunder, the exact amount recovery of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all monthly Base Rent that was [***] under the provisions of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlordthis Article 3; provided, however, Tenant acknowledges that the 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 [***] of such total amount of [***] monthly Base Rent. [***] Confidential portions of this document have been redacted and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, filed separately with the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodCommission.

Appears in 2 contracts

Sources: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)

Base Rent. Notwithstanding anything to Throughout the contrary Lease Term, Tenant shall pay Base Rent in the Leaseamount set forth above. Tenant promises to pay to Landlord in advance, effective as of the New Term Commencement Datewithout demand, deduction or set-off, 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 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 Premises 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 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 assessments or common area maintenance charges due and payable to any applicable ownership associations, 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 event of any failure on the part of Tenant to pay or discharge any of the foregoing, Landlord shall have all rights, powers and remedies 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 with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and Additional Rent (sometimes hereinafter collectively referred to as "Rent") and the obligations of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base ▇, reduce, or set-off any Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything to (a) From and after the contrary in the Lease, effective as of the New Term Lease Commencement Date, but subject to the applicable Abatement Period set forth in Section 4.2(a), the Rent Credit Amount and any other rent abatement Tenant may be expressly entitled to pursuant to this Lease, Tenant shall pay the Initial Premises Base Rent in equal monthly installments in advance on the first day of each month during a Lease Year. If the Lease Commencement Date is not the first day of a month, then the Initial Premises Base Rent from the Lease Commencement Date until the first day of the following month shall be prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the monthly installment of the Initial Premises Base Rent payable during the first Lease Year, and Tenant shall pay such prorated installment of the Initial Premises Base Rent on the Lease Commencement Date. (b) Commencing on each applicable Must Take Commencement Date but subject to the applicable Abatement Period set forth in Section 4.2(b), the Rent Credit Amount and any other rent abatement Tenant may be expressly entitled to pursuant to this Lease, hereof, Tenant shall pay, and Base Rent shall include, the Must Take Expansion Premises Base Rent for such Must Take Expansion Premises. If any Must Take Commencement Date is not the first day of a month, then the applicable Must Take Expansion Premises Base Rent from the Must Take Commencement Date until the first day of the following month shall be payable by Tenant in accordance with prorated on a per diem basis at the following schedule: Period rate of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all one-thirtieth (1/30th) of the monthly installments installment of the applicable Must Take Expansion Premises Base Rent due payable during the first (18) through eighth (8th) months applicable Lease Year, and Tenant shall pay such prorated installment of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Must Take Expansion Premises Base Rent being hereinafter collectively referred to as on the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodMust Take Commencement Date.

Appears in 2 contracts

Sources: Office Lease, Office Lease (2U, Inc.)

Base Rent. Notwithstanding anything 4.1 Lessee shall pay to Lessor a monthly rental (“Base Rent”) for the Demised Premises and the Personal Property over and above all other and additional payments to be made by Lessee as provided in this Lease, in the amount set forth on Exhibit C attached hereto and made a part hereof. The payment of monthly Base Rent and Additional Rent (together with all tax and insurance deposits required pursuant to Section 7.1) shall be due and payable in advance on the first day of each calendar month during the Term. Unless otherwise notified in writing, all payments of Rent shall be sent by wire directly to such account as Lessor has previously or may in the future designate in writing from time to time. Base Rent and Additional Rent shall be referred to herein as “Rent.” The parties hereto acknowledge and agree that the Rent payable for May 2015 and prior periods are subject to payment as provided under the terms of Lease 1, Lease 2 and Lease 3, as applicable, and that the Base Rent schedule attached hereto as Exhibit C will commence on June 1, 2016. 4.2 The parties agree that the Base Rent that will be attributable collectively to the contrary Crete Plus Five Leased Property is based on the parties’ assumption that Lessor shall purchase same pursuant to the Purchase Agreement for an aggregate purchase price of Fifteen Million and 00/100 Dollars ($15,000,000.00) plus any Closing Costs incurred by the applicable Lessor in connection therewith (collectively, the Lease, effective as “Purchase Price”). The parties agree that the Base Rent due and payable under this Lease shall be increased immediately upon the closing of the New Term Commencement Dateacquisition of the Crete Plus Five Leased Property in an initial annualized amount equal to Nine Percent (9.0%) of the Purchase Price, monthly installments such amount to increase at the commencement of each Lease Year by an amount equal to the same percentage that Base Rent payable hereunder would have increased had the Crete Plus Five Lease Property not been acquired. Immediately prior to the closing of the Crete Plus Five Leased Property purchase and sale, Lessor shall deliver to Lessee a written statement setting forth the amount of the Purchase Price, including the amount of Closing Costs, and the amount of the adjusted Base Rent for the Premises duration of the first Lease Year, which statement shall, without further action by Lessee, establish the Base Rent until the first adjustment date. In the event that the final total amount of the Purchase Price cannot be determined as of the date the Crete Plus Five Leased Property is acquired and subject to this Lease, the Base Rent shall be payable adjusted as of the date such final total Purchase Price is finally determined by Tenant in accordance with Lessor, and Lessee shall immediately pay Lessor an amount equal to the following schedule: Period of New Term Monthly Installments of difference between the Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all as of the monthly installments of date the Crete Plus Five Leased Property is acquired and subject to this Lease and the adjusted Base Rent due for all periods preceding the date in which the final total Purchase Price is finally determined. In the event the date the Crete Plus Five Leased Property is acquired and subject to this Lease shall be other than the first day of the month, Lessee shall pay to Lessor a pro rata portion of the Base Rent and Additional Rent for the month and a pro rata portion of all tax, insurance and other deposits provided for in this Lease. 4.3 Base Rent during the first (18) through eighth (8th) months Lease Year of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement MonthsFirst Extended Term, if anyexercised, and the first Lease Year of the Second Extended Term, if exercised, shall be equal to nine percent (9%) of the Appraised FMV (as hereinafter defined), which shall be determined after Lessee exercises each of its respective options. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunderAs used herein, the exact amount term “Appraised FMV” means the appraised fair market value of the Leased Property, as determined by a Qualified Appraiser (as defined below), based on the assumption that the Leased Property will continue to be operated as a skilled nursing facility, assisted living facility or independent living facility, as applicable. The term “Qualified Appraiser” means an appraiser certified as an MAI appraiser or with equivalent certification, and mutually acceptable to Lessor and Lessee. In the event that Lessor and Lessee cannot reach agreement as to the Qualified Appraiser, Lessor and Lessee shall each choose a Qualified Appraiser who shall, within ten (10) business days of such costs being extremely difficult selection meet and impracticable select a third Qualified Appraiser to ascertain. Therefore, should Tenant at any time during determine the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to LandlordApprised FMV; provided, however, Tenant acknowledges Base Rent during the first Lease Year of the First Extended Term and agrees that nothing the first Lease Year of the Second Extended Term shall not: (a) be less than the one hundred two percent (102%) of the Base Rent payable in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law the immediately preceding Lease Year; nor (includingb) increase by more than fifteen percent (15%) of the Base Rent payable during the immediately preceding Lease Year. The cost and expenses for each Qualified Appraiser shall be paid by Lessee. On the first anniversary of the First Extended Term, without limitationand on each anniversary thereafter during the First Extended Term, the remedies under Civil Code Section 1951.2 and/or 1951.4 Base Rent shall increase by two percent (2.0%) over the Base Rent in effect for the prior Lease Year. On the first anniversary of the Second Extended Term, and any successor statutes or similar laws)on each anniversary thereafter during the Second Extended Term, the Base Rent shall increase by two percent (2.0%) over the Base Rent in effect for the event Tenant defaults under the Amended prior Lease beyond any applicable notice and cure periodYear.

Appears in 2 contracts

Sources: Master Lease (Assisted 4 Living, Inc.), Master Lease (Assisted 4 Living, Inc.)

Base Rent. 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 the address shown above. One monthly installment shall be due and payable on or before the 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 in the Leasecontrary, effective as if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the New Term Premises to the Tenant on the Commencement Date, monthly installments substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of Base Rent 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 the later of: (i) September 1, 1995, or (ii) the 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 approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be payable extended by Tenant in accordance with the following schedule: Period number of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under days equal to the Amended Leasedelays caused by Tenant), Landlord hereby agrees shall pay to ▇▇▇▇▇ Tenant’s obligation to pay all of , as a credit against the monthly first installments of Base Rent due during rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the first (18) through eighth (8th) months of Premises are substantially complete and ready for Tenant's occupancy; and provided that if the New Term (i.e., September Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 2011 through April 301995 (except by reason of force majeure or Tenant caused delays, 2012) (in which case such date shall be extended by the “Abatement Months”) (such amount number of abated Base Rent being hereinafter collectively referred days equal to as the “Abated Amount”delays caused by Tenant). During such Abatement Months, Tenant will still be responsible for shall have the payment of all other monetary obligations due under the Amended option, in its absolute and unfettered discretion, to terminate this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause written notice to Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant given at any time during prior to substantial completion of the New Term be in default after having been given notice Premises and opportunity to cure, then, in addition to all Tenant taking occupancy of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant defaults under may thereafter terminate this Lease by written notice to the Amended Lease beyond any applicable notice and cure periodother, given on or before May 25, 1995.

Appears in 2 contracts

Sources: Lease (Fair Isaac & Company Inc), Lease (Fair Isaac & Company Inc)

Base Rent. Notwithstanding anything Tenant agrees to the contrary pay Landlord a total base rent ("Annual Base Rent") of Eight Hundred Eighty Three Thousand Two Hundred Three and No/100 Dollars ($833,203.00 ) payable in the Lease, effective as of the New Term Commencement Date, 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 for the Premises 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 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 accordance with the following schedule: Period of New Term commencement month, and the Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under paid by Tenant, if any, upon execution of this Lease shall be credited to the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Monthly Base Rent due during for the first (18) through eighth (8th) months full calendar month of the New Term (i.e.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, September 1Tenant shall pay Landlord in advance on the first day of each month, 2011 through April 30a sum equal to any sales tax, 2012) (tax on rentals, and any other charges, taxes and/or impositions now in existence or hereafter imposed in connection with renting the “Abatement Months”) (such Premises or upon the amount of abated rent collected therefor. Said amounts shall be treated and collectible as rent. Nothing herein shall be taken to require Tenant to pay any part of any Federal or State taxes imposed upon the income of Landlord. Tenant shall be required to pay Landlord interest on any 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 being hereinafter collectively referred to and Monthly Base Rent due from Tenant shall be adjusted as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing provided elsewhere in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodLease.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything (a) The first month’s Base Rent and Security Deposit shall be due and payable on delivery of an executed copy of this Lease to the contrary Landlord. Tenant shall pay to Landlord in the Lease, effective as of the New Term Commencement Dateadvance, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof, in lawful money of the United States of America, at the office or address of Landlord for payment of Rent set forth above. Notwithstanding the foregoing, Base Rent for the Premises 6-month period commencing on the Commencement Date shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided adjusted to be $18,390.67 per month for such 6-month period, provided that Tenant is not in default under Default hereunder, and after such 6-month period Base Rent shall be at the Amended Leaserate stated above in the Basic Lease Provisions, subject to adjustment each year on the Adjustment Date as provided below. Payments of Base Rent for any fractional calendar month shall be prorated. If the Rent Commencement Date is other than the first day of a calendar month, the difference between the first full calendar month’s Base Rent paid pursuant to the first sentence of this Section 3(a), and the prorated Base Rent for the fractional month in which the Rent Commencement Date occurs, shall be applied by Landlord hereby agrees to the first full calendar month after the Rent Commencement Date. Except as expressly provided in Section 2 above or Section 15 below, Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any Rent due hereunder. Base Rent shall be increased on each anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as otherwise provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. (b) In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s obligation Share of Project Operating Expenses and Tenant’s Percentage Share (Science Facility) of Science Facility Operating Expenses (each as defined in Section 4), and (ii) any and all other amounts Tenant assumes or agrees to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Monthsprovisions of this Lease, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (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 remedies under Civil Code Section 1951.2 and/or 1951.4 agreements, terms, covenants and any successor statutes or similar laws)conditions of this Lease to be performed by Tenant, in the event Tenant defaults under the Amended Lease beyond after any applicable notice and cure period. Tenant’s obligation to pay Base Rent and Additional Rent hereunder are collectively referred to herein as “Rent”.

Appears in 2 contracts

Sources: Lease Agreement (Eleven Biotherapeutics, Inc.), Lease Agreement (Eleven Biotherapeutics, Inc.)

Base Rent. Notwithstanding anything to the contrary in the Lease, effective as (a) As of the New Term Commencement Date, monthly installments of Effective Date Tenant shall pay Base Rent for the Existing Premises shall be payable by Tenant in accordance with the following rent schedule: . (The schedule below is the same as the Base Rent schedule listed in the Existing Lease with an extended period added to cover the full First Extension Term): Time Period of New Term Annual Base Rent Monthly Installments Installment of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 Annual Base Rent per Rentable Square Foot (b) Notwithstanding anything contained in the Lease to the contrary, commencing on the Expansion Premises Rent Commencement Date and continuing through the First Extension Term Expiration Date, Tenant shall, at the time and in the manner provided in the Lease, pay to Landlord as Base Rent for the Expansion Premises, the amounts set forth in the following rent schedule, plus any applicable tax thereon: Time Period* 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Annual Base Rent Monthly Installment of Base Rent Annual Base Rent per Rentable Square Foot *Note: Notwithstanding the above table, the dates of the time periods set forth therein will be adjusted based on the actual Expansion Premises Rent Commencement Date if such date occurs on a date earlier than July 1, 2020, but the final date shall remain the same. **Note: Provided Tenant is not in monetary default under of the Amended terms of this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all after expiration of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period, Tenant shall have no obligation to pay any Base Rent attributable to: (i) the first two (2) months of for the Expansion Premises, and only the Expansion Premises, following the Expansion Premises Rent Commencement Date (the “Expansion Premises Abatement Period”). Tenant shall be obligated to pay all of Tenant’s Share of Direct Expenses attributable to the Expansion Premises during the Expansion Premises Abatement Period.

Appears in 2 contracts

Sources: Lease Agreement (Precision Biosciences Inc), Lease (Precision Biosciences Inc)

Base Rent. Notwithstanding anything Tenant shall pay to Landlord, in advance on the contrary in the Lease, effective as first day of each month of the New Term Commencement DateTerm, monthly installments of Base Rent without further notice or demand and without abatement, offset (except as expressly set forth herein), rebate, credit or deduction for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Leaseany reason whatsoever, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during rent specified in the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) Basic Lease Information (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated AmountRent”). During such Abatement MonthsUpon execution of this Lease, Tenant will still shall pay the Prepaid Base Rent, specified in the Basic Lease Information to be responsible applied toward Base for the payment month of all other monetary obligations due under the Amended Term specified in the Basic Lease during such Abatement Months, if anyInformation. Tenant acknowledges that any default by Tenant under Notwithstanding anything herein to the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, howevercontrary, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit shall be excused from the obligation of paying the Base Rent (but not any other remedies available amounts) due hereunder for the Phase I Premises for the first six (6) full calendar months following the Commencement Date (expected to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawsbe April through September 2019), in the aggregate amount of $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 defaults under hereunder, and Landlord shall be entitled to seek recovery of the Amended Lease beyond any applicable notice Pro-Rated Excused Base Rent as part of the damages to which Landlord is otherwise entitled pursuant to the terms of this Lease. As used herein, the term “Pro-Rated Excused Base Rent” shall mean an amount computed by dividing the Excused Base Rent by one hundred twenty (120) and cure periodthen multiplying the resulting quotient by the number of months which would have remained in the Term as of the month of such Default by Tenant hereunder.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything In consideration of the lease of the Premises pursuant to this Lease, Tenant shall pay Base Rent in the 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 (except as otherwise expressly provided in this Lease), in advance, on the first day of each calendar month during the Term hereof, subject to the contrary in following, and also on the Lease, effective as of the New Term Commencement Date, should it be on any day other than a first day of the month, a proportionate part of the monthly installments of Base Rent for the Premises shall be payable by paid for such month. Notwithstanding the foregoing, Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s shall (i) have no obligation to pay all of the monthly installments of Base Rent due that would otherwise be payable during the first five (18) through eighth (8th5) months of the New Lease Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement MonthsInitial Free Rent Period), and (ii) receive an abatement of fifty percent (such amount 50%) of abated the next successive thirteen (13) months of Base Rent being hereinafter collectively referred to as that would otherwise be payable during the next successive thirteen (13) months of the Lease Term (the “Abated AmountPartial Rent Abatement Period”). During such 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 MonthsPeriod, the rent abatement set forth above is for Base Rent only and Tenant will still be responsible shall pay all Additional Rent, including but not limited to Additional Rent for Taxes and/or Operating Costs, and for the payment cost of all 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 “electronic funds transfer” system (“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 monetary place as Landlord shall from time to time designate in writing. If Tenant is using checks, rent checks shall be made payable to or as Landlord may designate from time to time in writing. The parties hereto acknowledge and agree that the obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default owing by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated this Section are rent reserved under this Lease, for all purposes hereunder, and are rent reserved within the exact amount meaning of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during Section 502(b)(6) of the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law Bankruptcy Code or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodprovision thereto.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Quanterix Corp)

Base Rent. Notwithstanding anything In addition to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Tenant’s obligation to pay Base Rent for the Premises 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 following schedule: Period terms of New Term Monthly Installments the Lease. Notwithstanding anything to the contrary in this Section 2, Tenant shall be entitled to an abatement of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not with respect to the Premises in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments 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 Abated Base Rent shall immediately become due during and payable, and notwithstanding anything in Section 1 above to the first (18) through eighth (8th) months of contrary, the New Term (i.e., Temporary Space Termination Date shall be September 1, 2011 through April 30, 2012) (. If Landlord elects not to lease the “Abatement Months”) (such amount of abated 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 being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment 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 monetary obligations due under rent and other costs and charges specified in the Amended Lease during such Abatement MonthsLease, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunderas amended hereby, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately remain as due and payable by Tenant pursuant to Landlord; providedthe provisions of the Lease, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodas amended hereby.

Appears in 2 contracts

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

Base Rent. 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 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 (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 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. 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. 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 the this Lease, effective as of 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 New Term Commencement Dateforegoing or anything to the contrary herein, monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided provided Tenant is not then in default under this Lease (beyond the Amended Leaseexpiration of any applicable notice and cure period), Landlord hereby agrees Tenant shall not be obligated to ▇▇▇▇▇ pay fifty percent (50%) of the Base Rent and fifty percent (50%) of Tenant’s obligation to pay all Share of Direct Expenses due under this Lease during months one (1) through twelve (12) of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended initial Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges shall be obligated upon the Lease Commencement Date, and agrees that nothing in for all periods thereafter, to pay all other Additional Rent payable under this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (Lease including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodparking charges.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything In addition to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Tenant’s obligation to pay Base Rent for the Premises Original Premises, Tenant shall pay Landlord Base Rent for the Expansion Space as follows: 2/15/13* - 2/14/14 $ 28.80 $ 480,211.20 $ 40,017.60 2/15/14 - 2/14/15 $ 30.00 $ 500,220.00 $ 41,685.00 2/15/15 - 2/14/16 $ 31.20 $ 520,228.80 $ 43,352.40 2/15/16 - 2/14/17 $ 32.40 $ 540,237.60 $ 45,019.80 2/15/17 - 2/14/18 $ 33.60 $ 560,246.40 $ 46,687.20 2/15/18 - 2/14/19 $ 34.80 $ 580,255.20 $ 48,354.60 All such Base Rent shall be payable by Tenant in accordance with the following schedule: Period terms of New Term Monthly Installments of the Lease, as amended hereby. The Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and Tenant’s Share of Expenses and Taxes due with respect to the second (2nd) month following the Expansion Effective Date shall be delivered to Landlord simultaneously with Tenant’s execution and delivery of this Amendment. Notwithstanding anything in the Lease, as amended hereby, to the contrary, so long as Tenant is not in default under the Amended Lease, Landlord hereby agrees as amended hereby, Tenant shall be entitled to ▇▇▇▇▇ Tenant’s obligation an abatement of Monthly Installment of Rent with respect to pay all of the monthly installments of Base Rent due during Premises for the first (18) through eighth (8th) months of full month following the New Term (i.e., September 1, 2011 through April 30, 2012) Expansion Effective Date (the “Abatement Months”) (such amount of abated Abated Base Rent being hereinafter collectively referred to as the “Abated AmountRent”). During such Abatement Months, If Tenant will still be responsible for the payment of all other monetary obligations due defaults under the Amended Lease during such Abatement MonthsLease, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunderas amended hereby, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term and fails to cure such default within any applicable cure period under the Lease, then all Abated Base Rent shall immediately become due and payable. 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 default the Lease, as amended hereby, shall remain as due and payable pursuant to the provisions of the Lease, as amended hereby. * Landlord and Tenant acknowledge that the foregoing schedule is based on the assumption that the Expansion Effective Date is the Target Expansion Effective Date. If the Expansion Effective Date occurs after having been given notice the Target Expansion Effective Date, the schedule set forth above with respect to the payment of any installment(s) of Base Rent for the Expansion Space shall be appropriately adjusted on a per diem basis to reflect the actual Expansion Effective Date, and opportunity the actual Expansion Effective Date shall be set forth in a confirmation letter to curebe prepared by Landlord. However, the effective date of any increases or decreases in the Base Rent rate shall not be postponed as a result of an adjustment of the Expansion Effective Date as provided above. If the Expansion Effective Date occurs prior to the Target Expansion Effective Date, then, notwithstanding anything in addition the rent schedule above to all of Landlord’s other rights and remediesthe contrary, the total unamortized sum of such Abated Amount annual rent per square foot shall be $27.60 during the period commencing on the Expansion Effective Date and ending February 14, 2013. Beginning February 15, 2013 and ending February 14, 2014, the rental rate shown above (i.e., $28.80) shall apply and the Forgiven increases in Base Rent and rate shall occur on February 15th of each year during the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything 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 check for currency which, at the time of payment, is legal tender for private or public debts in the 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 a full calendar month’s rental based on the proportion that the number of days in such fractional month bears to the contrary number of days in the Lease, effective as calendar month during which such fractional month occurs. All other payments or adjustments required to be made under the terms of the New Term Commencement Date, monthly installments of Base Rent for the Premises this Lease that require proration on a time basis shall be payable by Tenant in accordance with prorated on the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, same basis. Landlord hereby agrees to and ▇▇▇▇▇▇ Tenant’s obligation hereby agree that it is their intent that all Base Rent, Additional Rent and other rent and charges payable to pay all of the monthly installments of Base Rent due during the first Landlord under this Lease (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter individually and collectively referred to as “Rent”) shall qualify as “rents from real property” within the meaning of Section 856(d) of the Internal Revenue Code of 1986, as amended, (the “Abated AmountCode”) and the Department of the U.S. Treasury Regulations promulgated thereunder (the “Regulations”). During such Abatement MonthsShould the Code or the Regulations, Tenant will still or interpretations thereof by the Internal Revenue Service contained in revenue rulings or other similar public pronouncements, be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges changed so that any default by Tenant under Rent no longer so qualifies as “rent from real property” for purposes of Section 856(d) of the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount Code and the Forgiven Regulations promulgated thereunder, such Rent and shall be adjusted in such manner as the Abated Parking Charges (amortized on a straight line basis over the New Term) Landlord may require so conditionally excused shall become immediately due and payable by Tenant to Landlordthat it will so qualify; provided, however, Tenant acknowledges and agrees that nothing in any adjustments required pursuant to this Section 2 is intended 3 shall be made so as to limit any other remedies available produce the equivalent (in economic terms) Rent as payable prior to such adjustment. The parties agree to execute such further instrument as may reasonably be required by the Landlord at law or in equity under applicable law (including, without limitation, order to give effect to the remedies under Civil Code foregoing provisions of this Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period3.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything A. As part of the consideration for the execution of this Lease Agreement, Tenant covenants and agrees and promises to pay as base rent according to the contrary following schedule (the “Base Rent”): 1-60 $ 20.00 $ 1,381,000.00 $ 115,083.33 61-120 $ 21.50 $ 1,484,575.00 $ 123,714.58 Base Rent shall be payable to Landlord at the address specified in the Lease, effective Section 32 below (or such other address as may be designated by Landlord in writing from time to time) in legal tender of the New Term United States of America, in advance, without demand, set-off or counterclaim, on the first day of each calendar month during the term hereof and any extensions or renewals hereof; provided, however, the first monthly payment of Base Rent shall be made on the Commencement Date. In the event the final determination of Net Rentable Area within the Leased Premises is not the same as the approximate total square footage of the Leased Premises set forth in Section 1 of this Lease Agreement, monthly then all terms and provisions of this Lease Agreement that are dependent upon the size of the Leased Premises, including, without limitation, Base Rent and Tenant’s pro rata share, will automatically be altered without the need for any further documentation; provided that Tenant agrees to execute an amendment to this Lease Agreement reflecting such changes within ten (10) days after Landlord delivers to Tenant a written lease amendment reflecting such changes. B. All Rent (as hereinafter defined) shall bear interest from the date due until paid at the greater of (i) two percent (2%) above the “prime rate” per annum of JPMorgan Chase Bank, a New York banking corporation or its successor (“Chase”) in effect on said due date (or if the “prime rate” be discontinued, the base reference rate then being used by Chase to define the rate of interest charged to commercial borrowers) or (ii) twelve percent (12%) per annum (the “Interest Rate”); provided, however, in no event shall the rate of interest hereunder exceed the maximum non-usurious rate of interest (hereinafter called the “Maximum Rate”) permitted by the applicable laws of the State of Texas or the United States of America, and to the extent that the Maximum Rate is determined by reference to the laws of the State of Texas, the Maximum Rate shall be the weekly ceiling (as defined and described in Chapter 303 of the Texas Finance Code, as amended) at the applicable time in effect. C. If the Term of this Lease as described above commences on other than the first day of a calendar month or terminates on other than the last day of a calendar month, then the installments of Base Rent for the Premises such month or months shall be payable prorated and the installment or installments so prorated shall be paid in advance. The payment for such prorated month shall be calculated by Tenant in accordance with multiplying the following schedule: Period monthly installment by a fraction, the numerator of New Term Monthly Installments which shall be the number of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all days of the monthly installments of Base Rent due Term occurring during the first (18) through eighth (8th) months of the New Term (i.e.said commencement or termination month, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Monthscase may be, Tenant will still and the denominator of which shall be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum number of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing days occurring in this Section 2 is intended to limit any other remedies available to Landlord at law said commencement or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodtermination month.

Appears in 2 contracts

Sources: Lease Agreement (University General Health System, Inc.), Lease Agreement (University General Health System, Inc.)

Base Rent. Notwithstanding anything Tenant agrees to pay to Landlord without notice an annual “Base Rent”. The Base Rent will be payable at the contrary annual rate shown in the Basic Leasing Information of this Lease without any offset, defense or deduction whatsoever, in lawful (legal tender for public or private debts) money of the United States of America, at Landlord’s address or elsewhere as designated from time to time by Landlord’s written notice to Tenant. The Base Rent will be adjusted for increases as set forth within the Basic Leasing Information of this Lease. Landlord, upon execution of this Lease by Landlord and Tenant, hereby acknowledges payment by Tenant of the “Initial Payment” as shown in the Basic Leasing Information of this Lease, effective as representing payment of the New Term Commencement Datemonthly installment(s) of annual Base Rent and Additional Rent (as hereafter defined), together with the sales tax thereon. The total Base Rent is payable in monthly installments on the first day of each calendar month. If the Term commences on any day of a month other than the first day, Tenant shall pay Landlord the full monthly Base Rent as provided for herein for such commencement month, and thereafter the sum which should have actually been paid for said first month shall be calculated on a pro rata basis (such proration to be based on the actual number of days in the commencement month), and the difference shall be credited as a reduction in the next month’s installment of annual Base Rent to be paid by Tenant hereunder on the first day of the next succeeding month. Base Rent for any partial month of occupancy at the Premises end of the Term of this Lease will be prorated, such proration to be based on the actual number of days in the partial month. In addition to Base Rent, Tenant shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord and hereby agrees to ▇▇▇▇▇ Tenant’s obligation pay to pay all Landlord on the first day of each calendar month a sum equal to any sales tax, tax on rentals, and any other governmental charges, taxes and/or impositions now in existence or hereafter imposed based upon the privilege of renting the Leased Premises or upon the amount of Rent (as defined below) collected therefor, without any offset defense or deduction whatsoever, in lawful (legal tender for public or private debts) money of the monthly installments United States of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e.America, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred at Landlord’s address or elsewhere as designated from time to as the “Abated Amount”)time by Landlord’s written notice to Tenant. During such Abatement MonthsIn addition, Tenant will still agrees to be fully responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Monthsdocumentary stamps, if any, due pursuant to this Lease. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; providedNothing herein shall, however, be taken to require Tenant acknowledges to pay any part of any Federal and agrees State Taxes on income imposed upon Landlord. Tenant shall be required to pay Landlord interest on any Rent (as defined below) due that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law remains unpaid for five (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws)5) days after its due date. Further, in the event (i) Tenant defaults fails to pay Rent by the fifth (5th) day of the month in which such installment is due, or (ii) any other sums owed to Landlord pursuant to the terms of this Lease within five (5) days after accrual thereof or billing therefor, there will be added to such unpaid sum a late charge equal to ten percent (10%) of the installment or sum due, in order to defray the costs to Landlord for additional administrative expenses incurred as a result of such late payments. For all purposes of this Lease, the term “Rent” shall include all Base Rent, charges or impositions thereon, Additional Rent (as defined below), adjustments to Rent and any and all other payments due or which may become due from Tenant to Land-lord hereunder. Interest will be computed at the maximum legal rate and will be deemed to accrue from the fifth (5th) day after Rent is due and shall continue to accrue for as long as the sum remains unpaid. Provided, however, this provision shall not be construed as requiring Landlord to accept any late payment of Rent or as a waiver of any of Landlord’s rights or remedies by virtue of Tenant’s not making timely payment of Rent hereunder, and Land-lord’s acceptance of late Rent and such interest shall not be construed as constituting a waiver by Landlord of any rights or remedies available to it in the event that Rent is not timely paid by Tenant on any one or more future occasions, including declaring Tenant in default under this Lease and pursuing all remedies available to it arising from such default. The Base Rent as specified in the Amended Basic Leasing Information of this Lease beyond any applicable will increase annually on each yearly anniversary of the Lease Term as stated therein. Tenant by acceptance and execution of this Lease shall be deemed to have agreed to and received notice of the Annual Base Rent for each year of the Lease Term. Landlord shall not be required to provide notice of the new Base Rent; and cure periodTenant must pay Landlord the current monthly payment of Base Rent, in accordance with the schedule set forth in the Basic Leasing Information.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Omnicomm Systems Inc)

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the Leaseamount set forth on the first page of this Lease The Base Rent for calendar month November 2000 and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the date hereof, effective as of the New Term Commencement Dateand, subject to Exhibit H. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date Payments of Base Rent for the Premises 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 Tenant written notice delivered in accordance with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent ▇, reduce, or set-off any rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anyhereunder except where expressly provided in this Lease. Tenant acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being extremely difficult and impracticable impractical to ascertaindetermine. Therefore, should if Tenant at is delinquent in any time monthly installment of Base Rent, estimated Operating Expenses or 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 costs that Landlord will incur by reason of such late payment by Tenant Notwithstanding the foregoing, the late fee referenced above shall not be charged with respect to the first two (2) occurrences (but not any subsequent occurrence) during the New Term any 12-month period that tenant fails to make payment when due, until five (5) days after Landlord delivers written notice of such delinquency to Tenant. The provision for such late charge shall be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord hereunder or at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodshall not be construed as a penalty.

Appears in 2 contracts

Sources: Assignment of Lease, Assignment of Lease (Rackspace Inc)

Base Rent. Notwithstanding anything Lessee shall pay to Lessor Base Rent on each Rent Payment Date during the contrary Base Term in the Leaseamount set forth in the “Base Rent” column on Schedule 3.1 attached hereto and incorporated herein, effective and shall pay to Lessor Base Rent on each Rent Payment Date during any Renewal Term as of prescribed by Article 5. Notwithstanding the New Term Commencement Date, monthly installments of payment schedule for Base Rent for the Premises 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 payable by Tenant treated as a reduction in accordance with the following schedule: Period of New Term Monthly Installments of Base cumulative Deferred Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under (as defined below) for all prior semi-annual periods, and to the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay extent such excess exceeds the cumulative Deferred Rent for all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) prior semi-annual periods (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated AmountPrepaid Rent”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult 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) for all prior semi-annual periods, and impracticable to ascertainthe 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. ThereforeNeither 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), should Tenant at and the existence, timing, and amount of, and any time during adjustments to, Allocated Rent, Prepaid Rent and Deferred Rent are intended to be utilized solely for such purpose. Notwithstanding anything herein to the New Term be contrary, neither the existence or amount of, or timing of adjustments to, Allocated Rent, Prepaid Rent or Deferred Rent shall in default after having been given notice and opportunity any way affect the timing, amount or unconditional nature of Lessee’s obligations to curepay Base Rent or any other amounts payable under this Lease Agreement. In the event of any other termination of the Lease prior to the scheduled expiration of the Base Term, thenregardless of whether caused by the acts or omissions of Lessee or otherwise, then in addition to all of Landlord’s (and not in substitution for) any other rights and remediesremedies to which Lessor may be entitled under this Agreement or otherwise, Lessor shall be entitled to retain the total unamortized sum then unapplied portion of the Prepaid Rent in consideration for the loss incurred by Lessor as a result of such Abated Amount and early termination of the Forgiven Lease, it being agreed by the parties hereto that such portion of the Prepaid Rent and such other rights and remedies to which Lessor is then entitled reflect the Abated Parking Charges (amortized on loss incurred by Lessor as a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodresult of such early termination.

Appears in 2 contracts

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

Base Rent. 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 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 (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 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. The Base Rent for the first full month of the Lease Term shall be paid at the time of ▇▇▇▇▇▇’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. 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 the this Lease, effective as of 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 New Term Commencement Dateforegoing or anything to the contrary herein, monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided provided Tenant is not then in default under this Lease (beyond the Amended Leaseexpiration of any applicable notice and cure period), Landlord hereby agrees Tenant shall not be obligated to ▇▇▇▇▇ pay fifty percent (50%) of the Base Rent and fifty percent (50%) of Tenant’s obligation to pay all Share of Direct Expenses due under this Lease during months one (1) through twelve (12) of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended initial Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges shall be obligated upon the Lease Commencement Date, and agrees that nothing in for all periods thereafter, to pay all other Additional Rent payable under this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (Lease including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodparking charges.

Appears in 2 contracts

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

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the amount set forth above. The first month’s Base Rent, the Security Deposit, and 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, effective as of the New Term Commencement DateTenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent for on or before the Premises shall be payable by Tenant in accordance with first day of each calendar month succeeding the following schedule: Period of New Term Monthly Installments Commencement Date. Payments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for any fractional calendar month shall be prorated. All payments required to be made by Tenant is not to Landlord hereunder (or to such other party as Landlord may from time to time specify in default 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 the Amended Lease, Landlord hereby agrees this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the ▇, reduce, or set-off any rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installments installment of Base Rent due during 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 obligated to pay the first (18) through eighth (8th) months late charge until Landlord has given Tenant 5 days written notice of the New Term delinquent payment (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still which may be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 given at any time during the New Term delinquency); provided, however, that Landlord shall not be required to give such notices more than twice in default after having been given notice and opportunity to cure, then, any calendar year or 4 times over the term of the Lease. The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord hereunder or at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodshall not be construed as a penalty.

Appears in 1 contract

Sources: Lease Agreement (Ikanos Communications)

Base Rent. Notwithstanding anything The “Commencement Date” shall mean the date on which the Substantial Completion Date (as defined in Exhibit B) occurs. Lessor and Lessee will confirm in writing the Commencement Date. Subject to any Project Delays (as defined in Exhibit B), commencing on the contrary in the Lease, effective as later of the New Term Commencement Date, monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September Date or April 1, 2011 through April 30, 2012) 2023 (the “Abatement MonthsRent 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 (9.25%) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated AmountRent”). During such Abatement Months, Tenant will still be responsible for payable to Lessor in twelve equal monthly installments in advance on the payment first day of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 each calendar month during the New Term be at such place as Lessor shall designate from time to time in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (includingwriting, without limitationoffset, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes deduction or similar laws)demand. By way of example, in the event Tenant defaults under the Amended Lease beyond 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 applicable 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 cure periodexpenses 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 deliver written notice to Lessee (the “Adjusted Base Rent Notice”) adjusting Base Rent to reflect the actual Final Cost. Lessee shall pay Base Rent as set forth in the Adjusted Monthly Rent Notice on the first day of the month immediately following Lessee’s receipt of the Adjusted Base Rent Notice and, in addition, Lessee shall pay to Lessor the incremental difference in Base Rent for any prior months in the event Base Rent as set forth in the Adjusted 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, it may be paid in six equal installments over the six months following the Adjusted Monthly Base Rent Notice.

Appears in 1 contract

Sources: Charter School Lease

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the Leaseamount set forth in the Basic Lease Provisions. The third month's Base Rent, effective the Security Deposit, and the first monthly installment of estimated Operating Expenses (as of hereafter defined) shall be due and payable on the New Term Commencement Datedate 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 first day of each calendar month succeeding the Commencement Date. Payments of Base Rent for the Premises 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 Tenant written notice delivered in accordance with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligation of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Leaseshall have no right at any time to abate, Landlord hereby agrees to reduce, or set-off any rent due hereunder except as may be ex▇▇▇▇▇ Tenant’s obligation to pay all of the ▇ly provided in this Lease. If Tenant is delinquent in any monthly installments installment of Base Rent due during the first (18) through eighth (8th) months or of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Monthsestimated Operating Expenses for more than 5 business days, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause shall pay to Landlord on demand a late charge equal to incur costs not contemplated hereunder, the exact amount 5 percent of such costs being extremely difficult and impracticable to ascertaindelinquent sum. Therefore, should Tenant at any time during the New Term The provision for such late charge shall be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s 's other rights and remediesremedies 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 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 satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the total unamortized sum balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent on a date after the due date of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on payment shall not be construed to be a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant waiver of Landlord's right to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit declare a default for any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodlate payment.

Appears in 1 contract

Sources: Lease Agreement (Pods Inc)

Base Rent. Notwithstanding anything Base Rent is at the initial rate of $[***] per rentable square foot, plus all applicable sales tax thereon, escalating annually at the rate of [***]% on each anniversary of the Suite 160 Commencement Date (as to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Base Rent for Suite 160) and each anniversary of the Full Premises Commencement Date (as to the Base Rent for Suite 150 and Suite 220) with the Term to expire at the end of the 132nd full month from the Full Premises Commencement Date. Notwithstanding the foregoing, Base Rent and Tenant’s Percentage of Operating Expenses and Taxes for Suite 160 (7,561 rentable square feet) shall be payable by Tenant in accordance with abated for the following schedule: Period first [***] ([***]) [***] period of New the Term Monthly Installments of commencing on the Suite 160 Commencement Date (the “Suite 160 Rent Abatement Period”). The Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and Tenant’s Percentage of Operating Expenses and Taxes for Suite 160 due for any partial calendar month immediately following the Suite 160 Rent Abatement Period shall be prorated based on the number of days in that month. Notwithstanding anything herein to the contrary, during the Suite 160 Rent Abatement Period, Tenant shall pay the Tenant’s Percentage of electricity for Suite 160 and Tenant’s Percentage of janitorial services for Suite 160 which is not estimated to be $[***] psf, provided that Tenant’s Percentage of electricity and janitorial services shall be subject to reconciliation based upon the actual cost of the electricity and janitorial services, but in default under no event shall the Amended Leasecost exceed $[***] per rsf for calendar year 2018. Further, Landlord hereby agrees to notwithstanding the foregoing, Base Rent and Tenant’s Percentage of Operating Expenses and Taxes for the Suite 150 (27,321 rentable square feet) and Suite 220 (21,330 rentable square feet) shall be abated for the [***] ([***]) [***] period commencing on the Full Premises Commencement Date (the “Suites 150 & 220 Rent Abatement Period”). The Base Rent and Tenant’s Percentage of Operating Expenses and Taxes for Suites 150 & 220 due for any partial calendar month immediately following the Suites 150 & 220 Rent Abatement Period shall be prorated based on the number of days in that month. Tenant shall pay the Tenant’s Percentage of electricity for S▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇ and Tenant’s obligation Percentage of janitorial services for S▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇, which shall be based on 2019 budgets, provided that Tenant’s Percentage of electricity and janitorial services shall be subject to pay all reconciliation based upon the actual cost of the monthly installments of Base Rent due during electricity and janitorial services, but in no event shall the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible cost exceed $[***] per rsf for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodcalendar year 2019.

Appears in 1 contract

Sources: Lease Agreement (TherapeuticsMD, Inc.)

Base Rent. Notwithstanding anything a) Tenant shall pay to Landlord during the contrary Term of the Lease the Base Rent, without notice or demand, in the Leasemonthly installments specified in Section 1, effective as in advance on the first day of each calendar month of the New Term. The first month's installment of Base Rent shall be payable upon full execution of this Lease. If the Term Commencement Datecommences other than on the first day of a calendar month, monthly installments then the installment of Base Rent for the Premises first calendar month of the Term shall be adjusted proportionately and the aforesaid first installment paid by Tenant upon the execution of this Lease shall be initially applied to the first partial month of the Term, and the balance to the next month. b) Base Rent, Additional Rent and all other sums payable by Tenant to Landlord hereunder shall be paid, without set-off or deduction, except as specifically provided below, in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all lawful currency of the monthly installments United States of Base Rent due during America to Landlord at the first (18address set forth in Section 1 hereof, or at such other address as Landlord may from time to time designate in writing to Tenant. c) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant hereby acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of rent or other sums due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being which will be extremely difficult and impracticable to ascertain. ThereforeSuch costs include, should but are not limited to, processing and accounting charges, and late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of rent or any sum due from Tenant at shall not be received by Landlord or Landlord's designee within five (5) business days after said amount is due, then Tenant shall pay to Landlord a late charge of three (3%) percent of such overdue amount, plus reasonable attorney's fees and court costs, if any, incurred by Landlord by reason of Tenant's failure to pay rent and/or other charges when due hereunder. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment by Tenant. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any time during of the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodgranted hereunder.

Appears in 1 contract

Sources: Lease Agreement (Viropharma Inc)

Base Rent. 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 check for currency which, at the time of payment, is legal tender for private or public debts in the 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 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 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. 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 the Lease, effective as contained herein and provided that Tenant faithfully performs all of the New Term Commencement Date, monthly installments terms and conditions of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the Tenant’s monthly installments of Base Rent due during for the first second (182nd) through eighth and third (8th3rd) full months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”)initial Lease Term. During such Abatement Monthsabatement period, Tenant will shall still be responsible for the payment of all of its other monetary obligations due under this Lease. In the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any event of a default by Tenant under the Amended terms of this Lease will cause that results in early termination pursuant to the provisions of Article 19 of this Lease, then as a part of the recovery set forth in Article 19 of this Lease, Landlord shall be entitled to incur costs not contemplated hereunder, the exact amount recovery of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven monthly Base Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults was abated under the Amended Lease beyond any applicable notice and cure periodprovisions of this Article 3.

Appears in 1 contract

Sources: Office Lease (1st Pacific Bancorp)

Base Rent. Notwithstanding anything Commencing on the Rent Commencement Date, and subject to the contrary in the any offsets and abatements authorized by Section 4 or Section 5 of this Lease, effective as of the New Term Commencement DateTenant promises to pay to Landlord in advance, without demand, deduction or set- off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Rent Commencement Date. Payments of Base Rent for the Premises 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 Tenant written notice delivered in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided herewith. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to ▇▇▇▇▇, reduce, or set-off any rent due hereunder, except following Tenant’s obligation 's receipt of a money judgment by Tenant against Landlord and except as provided by Section 5. If Tenant fails to pay all any monthly installment of Base Rent, additional rent or other sums payable by Tenant to Landlord hereunder within five (5) working days after Landlord's service of written notice on Tenant that same is past due, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum; provided, however, that Landlord shall not be obligated to deliver more than two (2) written notices of late payment in any twelve (12) consecutive month period as a condition precedent to the imposition of a late charge. After the delivery of the monthly installments two (2) notices in any twelve (12) consecutive month period, any installment of Base Rent rent shall be late if not received by the date same is due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (without further notice or demand. The provision for such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still late charge shall be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s 's other rights and remedies, the total unamortized sum of such Abated Amount remedies hereunder or at law and the Forgiven Rent and the Abated Parking Charges (amortized on shall not be construed as a straight line basis over the New Term) so conditionally excused shall become immediately due and penalty. All amounts payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended Landlord hereunder which are not paid within sixty (60) days after the date due shall accrue interest at the rate of interest from time to limit any other remedies available time announced by Bank of America (San Francisco Headquarters branch) as its "prime" or "reference" plus four percent (4%) per annum (not to Landlord at law or in equity under applicable law (including, without limitation, exceed the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawsmaximum amount permitted by law), in which interest shall commence to accrue sixty (60) days after the event Tenant defaults under the Amended Lease beyond any applicable notice and cure perioddate same was due.

Appears in 1 contract

Sources: Net Lease Agreement (West Marine Inc)

Base Rent. Notwithstanding anything to the contrary in the Lease, effective retroactively as of the New Term Commencement Date, minimum monthly installments of Base Rent for the Premises shall be amended and be payable by Tenant in accordance with the following schedule: Period of New Term Minimum Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 7/1/13 – 6/30/14 $16,188.00* 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 7/1/14 – 6/30/15 $16,756.00 7/1/15 – 6/30/16 $17,324.00 7/1/16 – 6/30/17 $17,892.00 7/1/17 – 6/30/18 $18,460.00 7/1/18 – 6/30/19 $19,028.00 7/1/19 – 6/30/20 $19,596.00 7/1/20 – 6/30/21 $20,164.00 7/1/21 – 11/30/21 $20,732.00 * Provided Notwithstanding the foregoing, provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ in full Tenant’s obligation to pay all of the minimum monthly installments of Base Rent due during for the first (18) through eighth (8th) months of the New Term (i.e.July, September 12013 through March, 2011 through April 302014, 2012) inclusive (the “Abatement Months”) (such amount of abated minimum monthly Base Rent being hereinafter hereafter collectively referred to as the “Abated Amount”). During such the Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anyLease. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such the Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 paragraph is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws)law, in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodperiod and Landlord terminates the Amended Lease.

Appears in 1 contract

Sources: Office Lease

Base Rent. Notwithstanding anything to the contrary in the LeaseLandlord and Tenant acknowledge and agree that, effective as of the New Term Commencement beginning of the third month following the Expansion Premises Occupancy Date, monthly installments of Tenant shall commence paying Annual Base Rent for the Expansion Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of ("Expansion Premises Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”Rent"). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all the Base Rent payable for the Initial Premises as described in Section 2.2 of Landlord’s other rights the Lease and remedieson the same terms and conditions described therein, which Annual Expansion Premises Base Rent for the period beginning on the first day of the third month following the Expansion Premises Occupancy Date to, through and including February 28, 2010, shall be Four Hundred Seventy-Three Thousand, Eight Hundred Seventeen and 50/100 Dollars ($473,817.50)on an annual basis. Thereafter, commencing on March 1, 2010, and continuing through the Extended Term, the total unamortized sum Expansion Premises Base Rent shall be the product of such Abated Amount and multiplying (i) the Forgiven Expansion Premises Base Rent and payable for the Abated Parking Charges preceding Lease Year (amortized on a straight line basis over the New Termpreceding twelve-month period ending March 1) so conditionally excused shall become immediately due and payable by Tenant to Landlord(ii) the CPI Increase during the preceding Lease Year; provided, however, in no year shall the CPI Increase exceed two percent (2%) of the Base Rent for the preceding Lease Year of the Extended Term. As of the Expansion Premises Occupancy Date, the total Base Rent payable by Tenant acknowledges under the Lease shall be the sum of (aa) the Base Rent then in effect under the Lease with respect to the Initial Premises, plus (bb) the Expansion Premises Base Rent for the Expansion Premises (provided that Expansion Premises Base Rent shall not commence until the beginning of the third month following the Expansion Premises Occupancy Date), but in each instance subject to those increases as described in the Lease, as amended hereby (in Section 2.2 of the Lease with respect to the Initial Premises and agrees that nothing in this Section 2 is intended paragraph of the Amendment with respect to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawsExpansion Premises), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 1 contract

Sources: Industrial Building Lease (Dorman Products, Inc.)

Base Rent. Notwithstanding anything Sublessee shall pay to Sublessor an amount equal to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments installment of Base Rent for the Premises fifth full month of the Term (Forty-Three Thousand Seven Hundred Thirty-Nine and Eighty One-Hundredths Dollars ($43,739.80)) upon execution of this Sublease. Commencing on the Commencement Date, Sublessee shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not to Sublessor as rent for the Premises, in default under monthly installments in advance, and thereafter on the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all first day of each calendar month of the monthly installments of Base Rent due during the first (18) through eighth (8th) months Term, without deduction, offset, prior notice or demand, in lawful money of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to LandlordUnited States; provided, however, Tenant acknowledges and agrees that nothing Sublessee shall be entitled to four (4) month's free Base Rent with respect to the first four (4) months following the Commencement Date, as indicated in this the chart contained in the definition of Base Rent in Section 2 is intended 1 above. The abatement of the first four months of Base Rent, as provided in the foregoing sentence, does not affect Sublessee's obligation to limit pay Additional Rent with respect to such period. In addition, in the event of any default by Sublessee hereunder, in addition to any other remedies available to Landlord Sublessor at law or in equity or under applicable law (includingthis Sublease, without limitationupon demand of Sublessor, Sublessee shall pay to Sublessor an amount equal to the amount of the first four months of Base Rent that was abated pursuant to this Section 6(a). If the first day for which the monthly installment of Base Rent is payable is not the first day of a calendar month, or if the last day of the Term is not the last day of a calendar month, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawsmonthly installment of Base Rent shall be prorated for the fractional month(s). In the case of a proration at the beginning of the Term, in Sublessee shall pay the event Tenant defaults under proration for such partial month upon the Amended Lease beyond any applicable notice and cure perioddue date for Base Rent for the second month of the Term. Sublessee shall pay the proration for the last month of the Term when Base Rent for such month is due.

Appears in 1 contract

Sources: Sublease Agreement (Corixa Corp)

Base Rent. Notwithstanding anything (a) During the Original Lease Term and each Renewal Term, if applicable, Tenant shall pay to Landlord annual fixed rent (the "Annual Base Rent") in an amount equal to the contrary in the Lease, effective Fair Market Rent (as hereinafter defined) as of the New Term date (the "Rent Appraisal Date") which is not less than sixty (60) days prior to (i) the Commencement Date, monthly installments with respect to the Original Lease Term, (ii) the commencement of the First Renewal Term, with respect to the First Renewal Term, and (iii) the commencement of the Second Renewal Term, with respect to the Second Renewal Term. The Annual Base Rent for the Premises shall be payable by Tenant in accordance with monthly installments, in advance, on the following schedule: Period first day of New each and every calendar month during the Lease Term Monthly Installments 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 time in writing. The first monthly installment of Annual Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under shall be due and payable at the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all time of the execution of this Lease. Such first monthly installments installment of Annual Base Rent shall be in the amount due for the first month of the Original Lease Term. The first monthly installment of Annual Base Rent shall be credited by Landlord against the first monthly installment of Annual Base Rent due during the Lease Term. If the Lease Term shall commence on a day other than the first day of a calendar month, or shall end on other than the last day of a calendar month, then the monthly installment of Annual Base Rent due for such partial month shall be pro-rated. (18b) through eighth (8th) months For the purposes of this Article, the term "Fair Market Rent" shall mean the then annual fair market rental rate that would be paid by a willing tenant, not compelled to lease, and accepted by a willing landlord, not compelled to lease, for the Demised Premises as of the New pertinent date, considering (a) that Additional Rent shall continue to be payable during each 5-year period of the Term without any changes in this Lease relating to Additional Rent, (i.e., September 1, 2011 through April 30, 2012b) (the “Abatement Months”) (such amount age and quality of abated Base Rent being hereinafter collectively referred to the Building as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult date, (c) the length of the applicable Term, and impracticable (d) such other factors that Landlord and Tenant reasonably agree shall be relevant at the applicable date. Fair Market Rent shall be determined by mutual agreement between Landlord and Tenant (based upon the above factors) and shall be set forth in a writing to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice executed by Landlord and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to LandlordTenant; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended the failure of either party to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, execute such writing shall not affect the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure perioddetermination of Fair Market Rent.

Appears in 1 contract

Sources: Real Property Put and Option Agreement (Ha Lo Industries Inc)

Base Rent. Notwithstanding anything (a) Tenant shall pay to Landlord, as rent for the contrary Term, monthly installments of rent to be determined in accordance with the provisions of subparagraph (b) below. Each monthly installment shall he payable in advance, without notice or demand, and without any setoff, abatement, deduction, reduction or counterclaim of any kind; on or before the first day of each calendar month during the Term at such place as the Landlord shall from time to time designate. (b) During the first twelve months of the Term, the monthly installments of Base Rent shall be Twelve Thousand Dollars ($ 12,000). Upon the first anniversary of the commencement of the Term, and upon each anniversary thereafter, the Base Rent shall be adjusted. All adjustments shall be cumulative and shall be based upon any increase in the Lease, effective as Index. “Index” means the Consumer Price Index of the New Term Commencement DateBureau of Labor Statistics, United States Department of Labor (CPI-U), All Items Index for All Urban Consumers U.S. City Average (1982-84 = 100), or any replacement therefor. If the Index shall cease to be published, a reasonable substitute index shall replace it for purposes of this Lease. The adjusted monthly installments of Base Rent for the Premises twelve months succeeding any adjustment shall be payable the product found by Tenant in accordance with multiplying the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all amount of the monthly installments installment of Base Rent due during for the first (18) through eighth (8th) months month just prior to adjustment times a fraction, the numerator of which shall be the Index number indicated in the column for “all items” in the month immediately preceding the adjustment and the denominator of which shall be such Index number for the month and year used in the numerator of the New Term previous adjustment (i.e.or for the month immediately preceding commencement of the Term, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”case may be). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law no case shall monthly Base Rent, or in equity under applicable law (includingBase Rent as adjusted, without limitationever be reduced. Following each such adjustment, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), term “Base Rent,” as used in the event Lease, shall mean Base Rent as most recently adjusted. If at the beginning of any Lease Year adjusted Base Rent shall not have been calculated, Tenant defaults under shall continue paying the Amended Lease beyond any applicable notice Base Rent previously in effect on a timely basis. Upon notification by Landlord of the adjusted Base Rent, Tenant shall immediately pay Landlord the difference between Base Rent paid and cure periodthat which would have been due had adjusted Base Rent been calculated and shall thereafter continue paying monthly installments of adjusted Base Rent.

Appears in 1 contract

Sources: Lease (Obsidian Enterprises Inc)

Base Rent. Notwithstanding anything The Annual Base Rent shall be FORTY SEVEN THOUSAND ONE HUNDRED TWENTY SIX AND 16/100 ($47,126.16) DOLLARS and shall be paid by TENANT to LANDLORD at its principal office or that of its agent or at any other place hereafter designated in writing by LANDLORD, in equal monthly installments of THREE THOUSAND NINE HUNDRED TWENTY SEVEN and 18/100 ($3,927.18) DOLLARS, on or before the contrary in first day of each month during the term hereof. The first month's Base Rent shall be paid simultaneously with execution of this Lease, effective as receipt of which is hereby acknowledged by LANDLORD. On the New Term Commencement Date, monthly installments TENANT shall pay a pro rata amount of rent, if any, for the period from the Commencement Date to the first day of the next calendar month. TENANT shall promptly pay any and all Rent due hereunder at the times and at the address for LANDLORD stated above. TENANT shall promptly pay charges for work performed on order of TENANT and any other charges that accrue under this Lease. If any part of the Rent or other charges shall remain due and unpaid for five (5) days after the same become due and payable, LANDLORD shall have the option (in addition to all other rights and remedies available to it by law and in equity) of assessing against TENANT a "late charge" equal to five (5) cents for every dollar of Rent which is past due, which late charge assessment shall be deemed to be Additional Rent. The term Annual Base Rent for the Premises shall be payable may hereinafter by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as "Base Rent", "Annual Base Rent", or "Rent". LANDLORD shall have the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Monthsoption to assess a charge against TENANT, if any. Tenant acknowledges that any default by Tenant under of TENANT's payment checks shall be returned to LANDLORD marked "NSF" for insufficient funds, in the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain$25.00. ThereforeAdditionally, should Tenant if at any time during the New Term of this Lease, including any extensions or option terms, LANDLORD shall receive any two payment checks from TENANT returned to LANDLORD marked "NSF" then LANDLORD may demand that TENANT make the balance of its rental payments by cashier's check. TENANT may be in default after having been given notice and opportunity instructed by LANDLORD to curemake rental payments to a "lock box", then, in addition at Southeast Bank or such other institution as LANDLORD may designate. Due to all the nature of Landlord’s other rights and remedies, the total unamortized sum handling of such Abated Amount and payments, those which LANDLORD would normally not accept under the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing below circumstances may be deposited in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws)LANDLORD's account anyway. Therefore, in the event Tenant that the payment made by TENANT is in an amount which is less than what is due or, in the event that TENANT has received a statutory notice and failed to comply with its demands and/or litigation is pending concerning TENANT's nonpayment of rent or as a result of other defaults by TENANT under the Amended Lease, then, notwithstanding the fact that the rental payment received may be deposited in LANDLORD's "lockbox" at Southeast Bank or such other institution utilized for this purpose by LANDLORD, same SHALL NOT BE DEEMED ACCEPTED unless and until the default which is the subject of the above actions is cured to the satisfaction of the LANDLORD and as provided under the Lease beyond any applicable notice and cure periodFlorida law. Such DEPOSITED BUT UNACCEPTED RENTAL PAYMENT(S) will be refunded to TENANT on a LANDLORD issued check within a reasonable time after such deposit is made. Such deposit of TENANT's check, under the above circumstances, shall in no way prejudice LANDLORD's rights under Florida law and/or the Lease.

Appears in 1 contract

Sources: Lease Agreement (Kos Pharmaceuticals Inc)

Base Rent. Notwithstanding anything A. Tenant shall pay to Landlord, as rent for the Primary Lease Term, the annual sum of $36,000 U.S. Dollars (the "Base Rent") which sum shall be payable in equal monthly installments of $3,000 commencing on the Commencement Date, and continuing thereafter on the first day of each succeeding calendar month. All Base Rent, additional rent or other rentals or sums due hereunder shall be paid in advance without notice, abatement, deduction or offset at the office of Landlord or to such other person or at such other place as Landlord may designate in writing. The installments of the Rent (defined below) for the first and last months of the term hereof shall be prorated based upon the number of days during each of said months that the Primary Lease Term is in effect. B. As of the beginning of each Lease Year, defined below, the Base Rent due hereunder shall be adjusted by the percentage increase in the U.S. Department of Labor Consumer Price Index (commonly referred to as the Cost of Living Index) for All Items, All Urban Consumers, Denver-Boulder published for the most current month. The Base Rent then being paid shall be increased by an amount equal to the contrary amount arrived at by multiplying the percentage increase in the Lease, effective Cost of Living Index for the preceding Lease Year times the then payable monthly rental. The increased monthly rental as so determined shall commence as of the New Term Commencement Datefirst day of the month immediately following the end of the current Lease Year and shall continue until readjusted as herein provided. Landlord shall endeavor to give to Tenant a statement of the increase on or before the beginning of each Lease Year, monthly installments but failure by Landlord to do so shall not constitute a waiver by Landlord of its right to increase the Base Rent Rent. If the Cost of Living Index is discontinued, Landlord and Tenant shall agree upon comparable statistics on the cost of living for the Premises computations under this subparagraph (2), and such statistics shall be payable published by an agency of the United States Government or by a responsible financial periodical or recognized authority. If Landlord and Tenant fail to agree on a replacement index, they will submit the question of a replacement index to an arbitrator in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all rules and regulations of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodAmerican Arbitration Association.

Appears in 1 contract

Sources: Office Lease Agreement (Pentastar Communications Inc)

Base Rent. Notwithstanding anything 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 monthly installments on each Base Rental Date through the end of the Term. Each payment of Base Rent must be received by Landlord no later than 10:00 A.M. (San Francisco time) on the date it becomes due; if received after 10:00 A.M. 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 contrary Construction Period or Base Rental Period ending on the date on which the installment is due. Landlord shall notify Tenant in writing of the Base Rent due for the Construction Period ending on the Base Rental Commencement Date (if any) and for each Base Rental Period at least three (3) days prior to the Base Rent Commencement Date or Base Rental Date on which such period ends, but any failure by Landlord to so notify Tenant shall not constitute a waiver of Landlord's right to payment. If Tenant or any other Applicable Purchaser purchases Landlord's interest in the LeaseLeased Property pursuant to the Purchase Agreement, effective as of the New Term Commencement Date, monthly installments of any Base Rent for the Premises month (or shorter period) ending on the date of purchase and all outstanding Additional Rent shall be payable by Tenant in accordance with due on the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, Designated Payment Date in addition to all the purchase price and other sums due Landlord under the Purchase Agreement. The Base Rent payable on the Base Rental Commencement Date shall equal the difference (if any) between (a) total Carrying Costs that would have been added to the Outstanding Construction Allowance on such date if the Construction Allowance available hereunder were not limited to the Maximum Construction Allowance, and (b) the Carrying Costs actually added on such date to the Outstanding Construction Allowance. The Base Rent for each Base Rental Period shall equal (A) Stipulated Loss Value on the first day of such Base Rental Period, times (B) the Effective Rate with respect to such Base Rental Period, times (C) the number of days in such Base Rental Period, divided by (D) three hundred sixty (360). Assume, only for the purpose of illustration: that a hypothetical Base Rental Period contains exactly thirty (30) days; that on the first day of such Base Rental Period, after the entire Construction Allowance had been funded, and after deducting a total of $13,200,000 of Qualified Payments received by Landlord’s other rights and remedies, the total unamortized sum of resulting Stipulated Loss Value is $5,000,000; and that the Effective Rate computed with respect to the applicable Base Rental Period is 6%. Under such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitationassumptions, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes Base Rent for the hypothetical Base Rental Period will equal: $5,000,000 x 6% x 30/360, or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period$25,000.

Appears in 1 contract

Sources: Lease Agreement (Cypress Semiconductor Corp /De/)

Base Rent. Notwithstanding anything A. Beginning on July 1, 2007 and for the remainder of the Lease Year ending May 31, 2008, the Tenant shall pay to the contrary in Landlord, without previous demand therefore, and without setoff or deduction whatsoever, the Leasefollowing net monthly rent (“Base Rent”): (a) For the Leased Area – the monthly Base Rent shall be $62,358.81 per month. (b) For the Paint Spray Booth – the monthly Base Rent shall be $2,500.00 per month. (c) For the Compressed Air System – the monthly Base Rent shall be $500.00 per month. B. Commencing on July 1, effective 2008 (“First Adjustment Date”) and on the first day of June at the beginning of each Lease Year thereafter (“Subsequent Adjustment Date”) during the Initial Term and any Option Period, the amount of the monthly Base Rent due under this Lease shall be adjusted to an amount equal to the product of the then-current monthly Base Rent multiplied by a fraction having as its numerator the Consumer Price Index (hereinafter defined) published most recently prior to applicable Adjustment Date and as its denominator the Consumer Price Index published most recently prior to Commencement Date. In the event the new Base Rent cannot be determined as of the New Term Commencement Adjustment Date, monthly installments of Base Rent for the Premises Tenant shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation continue to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months prior Lease Year until Landlord notifies Tenant of the New Term Base Rent, and, within ten (i.e.10) days after delivery of such notice, September 1Tenant shall reimburse Landlord for any accrued but unpaid increase. In no event shall the monthly Base Rent, 2011 through April 30as adjusted on any Adjustment Date, 2012be less than three percent (3%) over the Base Rent payable during the prior Lease Year, nor increase by more than seven percent (7%) over the monthly Base Rent payable during the prior Lease Year. C. As used herein, the term “Consumer Price Index” shall mean the bi-monthly Consumer Price Index published by the Bureau of Labor Statistics of the U.S. Department of Labor, using the index titled “Consumer Price Index — All Items — All Urban Consumers (CPI-U) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”1982-84 = 100). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under Atlanta, Georgia Standard Metropolitan Statistical Area. If the Amended Lease during such Abatement MonthsConsumer Price Index shall no longer be published or cannot be adjusted, if any. Tenant acknowledges that any default then another index generally recognized as authoritative shall be substituted therefore by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunderLandlord, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused term “Consumer Price Index” shall become immediately due and payable by Tenant refer to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodsuch substituted index.

Appears in 1 contract

Sources: Industrial Lease (Force Protection Inc)

Base Rent. Notwithstanding anything to Commencing on the contrary in the Lease, effective as of the New Term Lease Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord at Landlord’s address set forth herein, or at such other place as Landlord may from time to time designate in writing, in currency of the United States of America, Base Rent and Additional Rent, without any setoff or deduction whatsoever. The Base Rent shall be paid in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term. The Base Rent for the Premises first full month of the Lease Term shall be payable by Tenant in accordance with paid at the following schedule: Period time of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇▇’s execution of this Lease. If the Lease 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, the monthly Base Rent and Tenant’s obligation to pay all Share of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible any Operating Expenses or Tax Expenses for the payment month shall be prorated based on the number of all days in such calendar month. All other monetary obligations due payments or adjustments required to be made under the Amended terms, covenants and conditions of this Lease during such Abatement Monthsthat require proration on a time basis shall be prorated on the same basis. Tenant shall pay and be liable for all rental, sales and use taxes, if any, imposed upon or measured by rent under applicable Law. Tenant acknowledges that If no specific time period is given for payment of any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunderitem of Rent, the exact amount such item of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term Rent shall be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant within thirty (30) days after demand by Landlord. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord; provided, howeverin its sole discretion, may elect. The subsequent acceptance of Rent hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant acknowledges of any term, covenant or condition of this Lease. Acceptance of a lesser amount than shall be due from Tenant to Landlord shall be considered a payment on account, and agrees that nothing in this Section 2 is intended shall not be deemed a waiver of Landlord’s right to limit receive the full amount due, nor shall any endorsement or statement on any check or payment or any letter accompanying such check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to any other rights or remedies available which Landlord may have against Tenant. No receipt of monies by Landlord from Tenant after the termination of this Lease shall in any way alter the length of the Lease Term or of Tenant’s right of possession hereunder, or after the giving of any notice shall reinstate, continue or extend the Lease Term or affect any notice given Tenant prior to the receipt of such monies, it being agreed that after the service of notice or the commencement of a suit, or after final judgment for possession of the Premises, Landlord at law may receive and collect any Rent due, and the payment of said Rent shall not waive or in equity under applicable law (includingaffect said notice, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes suit or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodjudgment.

Appears in 1 contract

Sources: Office Lease (Cambium Networks Corp)

Base Rent. Notwithstanding anything During the Expansion Term, Tenant shall pay to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Landlord Base Rent for the Premises Expansion Premises, which shall be payable by Tenant in accordance with monthly installments as follows: 10/01/11 – 02/29/12 $ $ * 03/01/12 – 02/28/13 $ $ 03/01/13 – 02/28/14 $ $ 03/01/14 – 02/28/15 $ $ 03/01/15 – 02/29/16 $ $ 03/01/16 – 02/28/17 $ $ 03/01/17 – 02/28/18 $ $ 03/01/18 – 02/28/19 $ $ 03/01/19 – 05/31/20 $ $ * In the event that the Expansion Commencement Date is other than the first day of a calendar month, the first and last calendar months shall be prorated and the partial month shall be added to the month immediately following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees applicable abatement period. Such abatement shall apply solely to ▇▇▇▇▇ Tenant’s obligation to pay all payment of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law Operating Expenses (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 Taxes, Insurance and any successor statutes or similar lawsCommon Area Charges), but shall not be applicable to any electricity consumed by Tenant (which must still be paid by Tenant during the abatement and partial abatement periods) or any other charges, expenses or costs payable by Tenant under this Lease. Landlord and Tenant agree that the abatement of rental and other payments contained in this Section is conditional and is made by Landlord in reliance upon Tenant’s faithful and continued performance of the terms, conditions and covenants of this Lease and the payment of all monies due Landlord hereunder. In the event that Tenant defaults under the Amended Lease is evicted due to a default beyond any applicable notice and cure period, then the unamortized portion (with amortization on a straight-line basis over the entire initial term of this Lease) of all conditionally abated rental (to the extent not specifically included in any award of future rental) shall become fully liquidated and immediately due and payable (without limitation and in addition to any and all other rights and remedies available to Landlord provided herein or at law and in equity). Except as otherwise expressly set forth herein, Base Rent shall be payable pursuant to the terms and conditions of Section 2 of the Lease.

Appears in 1 contract

Sources: Office Lease (Alliance Data Systems Corp)

Base Rent. Notwithstanding anything to the contrary ​ (a) Tenant shall pay Base Rent in the amounts set forth in the Basic Lease Provisions. The Prepaid Rent (as set forth in the Basic Lease Provisions above) shall be due and payable on the date this Lease is executed and shall be applied against Base Rent and Operating Expenses first due under this Lease, effective as of the New Term Commencement Dateand Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date. Payments of Base Rent for the Premises 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 Tenant at least thirty days’ prior written notice delivered in accordance with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations and shall constitute rent. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent ▇, reduce, or set-off any rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anyhereunder except where expressly provided in this Lease. Tenant acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being extremely difficult and impracticable impractical to ascertaindetermine. Therefore, should if Tenant at is delinquent in any time during monthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for more than ten (10) days, Tenant shall pay to Landlord on demand a late charge equal to five percent (5%) of such delinquent sum; provided that such late charge shall not be assessed by Landlord for the New Term first delinquent payment of Base Rent so long as Tenant pays such amount within ten (10) days of receipt of notice of non-payment. 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 in default after having been given notice deemed to be rent, and opportunity the right to cure, then, require it shall be in addition to all of Landlord’s other rights and remediesremedies for a payment failure of Tenant, including the total unamortized sum of such Abated Amount right to charge interest on the past due amount, and the Forgiven Rent and the Abated Parking Charges (amortized on shall not be construed as a straight line basis over the New Term) so conditionally excused penalty. Additionally, Tenant shall become immediately due and pay to Landlord all sales, use, transaction privilege, or other excise tax that may at any time be levied or imposed upon, or measured by, any amount payable by Tenant under this Lease. (b) Subject to Landlord; providedthe terms and conditions of this Paragraph 4(b), howeverprovided that no Event of Default exists under this Lease, and no Event of monetary Default has occurred under this Lease during the term of the Lease, Tenant acknowledges and agrees that nothing shall be credited with the payment of monthly Base Rent with respect to the Premises for the first (1st) through sixth (6th) months of the initial Lease Term only (collectively, the “Base Rent Credit”) (for a total Base Rent Credit equal to $878,525.76 in this Section 2 is intended the aggregate, subject to the terms hereof). No such Base Rent Credit shall reduce or limit any other remedies available to Landlord at law or in equity amounts which are otherwise payable by Tenant under applicable law this Lease (including, without limitation, Operating Expenses and utilities). Tenant understands and agrees that the remedies foregoing Base Rent Credit is conditioned upon no Event of Default occurring under Civil Code Section 1951.2 and/or 1951.4 this Lease. Accordingly, upon the occurrence of any Event of Default under this Lease, the foregoing Base Rent Credit shall immediately become null and void, and any successor statutes or similar laws)Base Rent previously credited to Tenant shall immediately become due and payable, and Tenant shall no longer receive any credit on account of such Base Rent Credit. ▇▇▇▇▇▇ agrees and acknowledges that notwithstanding the fact that Landlord may elect not to cause the Base Rent Credit to become null and void on account of any particular default by Tenant, Landlord shall at all times retain the right to cause the Base Rent Credit to become null and void in the event Tenant defaults under the Amended Lease beyond of any applicable notice and cure periodEvent of Default.

Appears in 1 contract

Sources: Lease Agreement (AeroVironment Inc)

Base Rent. Notwithstanding anything The amount of Lessee's monthly base rental payments shall be dependent upon whether Lessor obtains the funding for the Improvement Loan. In the event that Lessor provides to Lessee the funding for the Improvement Loan prior to the contrary in the Lease, effective as of the New Term Rent Commencement Date, monthly installments Lessee shall pay to Lessor, beginning on the Rent Commencement Date, the amounts set forth under Column A of Exhibit A-1, "Schedule of Monthly Base Rental Payments", as its Base Rent. In the event that Lessor does not provide the funding for the Improvement Loan, Lessee shall pay to Lessor, beginning on the Rent Commencement Date, the amounts set forth under Column B of Exhibit A-1, "Schedule of Monthly Base Rental Payments", as its Base Rent. In the event that Lessor provides the funding for the Improvement Loan subsequent to the Rent Commencement Date, the amount of the Improvement Loan proceeds payable by Lessor to Lessee shall be reduced by Twenty Thousand Dollars ($20,0000) for each month after the Rent Commencement Date. Upon the providing of the Improvement Loan proceeds by Lessor to Lessee, Lessee shall, in the succeeding month and every month thereafter, pay the amounts set forth under Column A of Exhibit A-l, "Schedule of Monthly Base Rental Payments" as its Base Rent. For example, if the Rent Commencement Date is November 1, 1991 and if on December 30, 1991 Lessor provides to Lessee funding for the Improvement Loan, the amount of the Improvement Loan proceeds would be $535,000.00 and, beginning January 1, 1992 (Month 3), Lessee's Monthly Base Rent would be $21,381.00. Upon execution of this Lease, Lessee shall pay Lessor Twenty-One Thousand Three Hundred Eighty-One no/100 dollars ($21,381.00) as Base Rent for the Premises first month in which rent is due. Rent shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all lawful money of the monthly installments of Base Rent due during United States to Lessor at the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (address stated herein or to such amount of abated Base Rent being hereinafter collectively referred to other persons or at such other places as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be Lessor may designate in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodwriting.

Appears in 1 contract

Sources: Sublease (Burke Industries Inc /Ca/)

Base Rent. Notwithstanding anything A. Tenant shall pay to Landlord annual fixed rent (“Base Rent”) with respect to the contrary in Premises according to the Lease, effective Base Rent schedule attached hereto as Exhibit E and made a part hereof based on the Rentable Area of the New Term Commencement DatePremises, monthly installments subject to remeasurement of Base Rent for the Premises shall be payable such Rentable Area by Tenant Landlord as provided in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”Section 1(A)(2). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law Except as otherwise expressly specified herein (including, without limitation, Section 2(C) and Section 4(G), Base Rent shall be payable in equal monthly installments, each installment being payable in advance on the remedies under Civil Code first day of each and every calendar month during the Term, except that if Tenant’s obligation to pay Base Rent commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar month, Base Rent for such month shall be prorated by multiplying same by a fraction, the numerator of which is the number of days with respect to which Base Rent is payable during such calendar month and the denominator of which is the total number of days within such calendar month. Subject to the express terms and conditions set forth in Section 1951.2 and/or 1951.4 1(A)(1) above, if the Rentable Area of the Premises shall change during any calendar month, monthly Base Rent shall be prorated on the basis of the Base Rent payable per square foot of Rentable Area for the portion of such calendar month before and after such change in the Rentable Area. Any amounts paid on account of the Base Rent for a particular month which are in excess of the actual Base Rent payable for such month shall be credited against the monthly installment of Base Rent next due hereunder or, if no further Base Rent is then due hereunder, shall be repaid to Tenant within thirty (30) days thereafter. B. For purposes of this Lease, the term “Additional Rent” shall mean Tenant’s Pro Rata Share of Taxes, Tenant’s Pro Rata Share of Operating Expenses and any successor statutes other amounts (other than Base Rent) which Tenant is or similar becomes obligated to pay Landlord under this Lease. Base Rent and Additional Rent are sometimes hereinafter referred to collectively as “Rent,” and all remedies applicable to the non-payment of Base Rent shall be applicable thereto. Rent shall be paid in good funds by check (including Tenant’s uncertified personal check) or ACH or wire transfer in currency which at the time or times of payment represents legal tender for public and private debts in the United States of America, at such place in the United States of America as Landlord may designate by notice to Tenant, including without limitation any “lock box” or other address established for payment of rent in connection with any financing secured by the Building. Except to the extent otherwise expressly provided in this Lease, Rent shall be paid without any prior demand or notice therefor and without any deduction, set-off or counterclaim, or relief from any valuation or appraisement laws. Any Rent which is not paid when due shall bear interest from the date due until the date paid at the Default Rate (as defined below); and, in addition, Tenant shall pay Landlord a late charge for any Rent payment which is paid more than five (5) business days after its due date equal to three percent (3%) of such payment Notwithstanding the event Tenant defaults under foregoing, no such default interest or late charge shall be due or owing for the Amended Lease beyond any applicable notice and cure periodfirst delinquent payment of Base Rent or for the first delinquent payment of Additional Rent so long as such first delinquent amount is fully paid within thirty (30) days after the due date thereof.

Appears in 1 contract

Sources: Lease Agreement (Exicure, Inc.)

Base Rent. Notwithstanding anything For the period commencing on the Base Rent Commencement Date through June 13, 2012, an annual amount equal to $ 71,006,686, which amount shall increase by ten percent (10%) on June 14, 2012 and June 14, 2017, subject to reduction as hereinafter provided in connection with the contrary in the Lease, effective as termination of the New Term Commencement Date, monthly installments of a Leased Property. Base Rent for the Premises each Fiscal Year shall be payable by Tenant in accordance with advance in twelve (12) equal installments, on the following schedule: Period ninth (9th) day of New each calendar month of the Term Monthly Installments of (the “Rent Payment Date”), provided that if such ninth (9th) day is not a Business Day, then the Rent Payment Date shall be the immediately preceding Business Day. Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under shall be paid for the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all period of the monthly installments ninth (9th) of Base Rent due during each month (or, if applicable, the first (18Commencement Date) through the eighth (8th) months of the New Term next month (i.e.or, September 1if applicable, 2011 through April 30, 2012the expiration of the Term) (each, a “Rental Period”), provided that the “Abatement Months”) (such amount first and last payments of abated Base Rent being hereinafter collectively referred shall be prorated as to as any partial Rental Period, based on the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for number of days within the payment of all other monetary obligations due under the Amended Lease Term during such Abatement Months, if anyRental Period and the number of days in such Rental Period. Tenant acknowledges that hereby agrees to make any default by Tenant under reasonable changes with respect to the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount definitions of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law Payment Date” or in equity under applicable law (“Rental Period,” including, without limitation, changing the remedies under Civil Code Section 1951.2 and/or 1951.4 Rent Payment Date and Rental Period, as may be requested in connection with any successor statutes or similar lawsLandlord’s Debt. Notwithstanding the foregoing, Base Rent in respect of the period from and including the Commencement Date to but not including the Base Rent Commencement Date shall equal the First Rental Period Base Rent. The first Rent Payment Date shall be, and the first installment payment of Base Rent shall be payable on, July 9, 2007 (the “Base Rent Commencement Date”), which payment shall include (i) the First Rental Period Base Rent and (ii) Base Rent in respect of the event Tenant defaults under Rental Period beginning July 9, 2007 and ending August 8, 2007. Base Rent shall be reduced by the Amended applicable Base Rent Reduction Amount applicable to any Leased Property with respect to which this Lease beyond any is terminated on the applicable notice and cure periodProperty Removal Date as provided in Section 1.8.

Appears in 1 contract

Sources: Master Lease Agreement (Cheeseburger-Ohio, Limited Partnership)

Base Rent. Notwithstanding anything 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 check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, base rent ("Base Rent") as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 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, except to the contrary extent expressly provided in the this Lease, effective as . In accordance with Section 4 of the New Summary, any increases in Base Rent shall occur on the first day of the applicable Lease Month. The parties acknowledge, however, that Tenant shall pay Base Rent for each "calendar month" of the Lease Term Commencement Date(or a prorated portion of a "calendar month", monthly installments of as applicable), even though the first "Lease Month" may pertain to a period longer than one (1) calendar month. The Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first two (182) through eighth (8th) full calendar months of the New Lease Term (i.e., September 1, 2011 through April 30, 2012) (shall be paid at the “Abatement Months”) (such amount time of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”)Tenant's execution of this Lease. During such Abatement Months, Tenant will still be responsible for the If any payment of all Rent 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 shall total an amount equal to the product of (i) a fraction, 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 such calendar month, and (ii) the then-applicable Monthly Installment of Base Rent. All other monetary obligations due payments or adjustments required to be made under the Amended TCCs of this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized require proration on a straight line time basis over shall be prorated on the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodsame basis.

Appears in 1 contract

Sources: Office Lease (DermTech, Inc.)

Base Rent. Notwithstanding anything to The first month’s Base Rent (i.e., the contrary in Base Rent due for the Lease, effective as of first full month following the New Term Base Rent Commencement Date) and the Security Deposit shall be due and payable on delivery of an executed copy of this Lease to Landlord. Commencing on the Base 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, in lawful money of the United States of America, at the office of Landlord for the Premises shall be payable by Tenant 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 accordance with the following schedule: Period of New Term Monthly Installments writing. Building 1 (AOTC) / Kymera Therapeutics, Inc. - Page 6 Payments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for any fractional calendar month shall be prorated. The obligation of Tenant is not in default to pay Base Rent and other sums to Landlord and the obligations of Landlord under the Amended Lease, Landlord hereby agrees this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation ▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. In addition to pay all the Tenant Improvement Allowance (as defined in the Work Letter), Landlord shall, if Tenant so requests in writing and subject to the terms of the monthly installments Work Letter, make available to Tenant the Supplemental Tenant Improvement Allowance (as defined in the Work Letter). Commencing on the Commencement Date and continuing thereafter on the first day of Base Rent due each month during the first (18) through eighth (8th) months Base Term, Tenant shall pay the amount necessary to fully amortize the portion of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Supplemental Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement MonthsImprovement Allowance actually funded by Landlord, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount as Additional Rent in equal monthly payments with interest at a rate of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis 8% per annum over the New Base Term) so conditionally excused , which interest shall become immediately due begin to accrue on the Commencement Date. Any of the Supplemental Tenant Improvement Allowance and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available applicable interest remaining unpaid as of the expiration or earlier termination of the Lease shall be paid to Landlord in a lump sum at law the expiration or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodearlier termination of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Kymera Therapeutics, Inc.)

Base Rent. Notwithstanding anything Tenant shall deliver to Landlord, concurrent with ▇▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the contrary Base Rent due for the calendar month in which the LeaseRent Commencement Date occurs (or, effective as if the Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the New Term first full calendar month following 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 currency of the United States of America, to the physical address designated by Landlord for the Premises shall be payable payment of Rent set forth above 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 instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant in accordance with pursuant to this Section 3(a) must include a reference to ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ LP, as well as the following schedule: Period address of New Term Monthly Installments the Building (i.e., ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇). Payments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the Rent Commencement Date occurs on a day other than the first day of a calendar month, then Tenant is not in default shall pay to Landlord the prorated Base Rent for such partial month on the Rent Commencement Date and the prepaid Base Rent delivered by Tenant pursuant to the first sentence of this Section 3(a) shall be applied to the first full calendar month following the Rent Commencement Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under the Amended Lease, Landlord hereby agrees this Lease are independent obligations. Tenant Multi-Tenant Office611 Gateway – Suite 900/Rigel Pharmaceuticals - Page 4 shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base ▇, reduce, or set-off any Rent (as defined in Section 3(b)) due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to hereunder except for any abatement as the “Abated Amount”). During such Abatement Months, Tenant will still may be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing expressly provided in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodLease.

Appears in 1 contract

Sources: Lease Agreement (Rigel Pharmaceuticals Inc)

Base Rent. Notwithstanding anything 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 contrary Base Rent Period 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. If Tenant or any other Applicable Purchaser purchases Landlord's interest in the LeaseLeased Property pursuant to the Purchase Agreement, effective as any Base Rent for the three (3) months ending on the date of purchase (or if the date of Purchase is not a Base Rent Date, then pro rated Base Rent for the Base Rent Period which included the date of purchase) and all outstanding Additional Rent shall be due on the Designated Sale Date in addition to the purchase price and other sums due Landlord under the Purchase Agreement. Base Rent shall accrue for each day of the New Term Commencement Datefirst Base Rent Period, monthly installments and the total Base Rent for the first Base Rent Period shall equal the sum of Base Rent for all days during such period. The Base Rent accruing for each day during such period shall equal: (1) (A) $74,800,000, times (B) one minus the Premises Collateral Percentage for the first Base Rent Period, times (C) the sum of (i) the Effective Rate for such day and (ii) the Spread calculated on the date of this Lease, divided by (D) three hundred sixty (360); PLUS (2) (A) $74,800,000, times (B) the Collateral Percentage for the first Base Rent Period, times (C) twenty-two and one-half basis points (22.5/100 of 1%), divided by (D) three hundred sixty (360) The Base Rent for each Base Rent Period after the first Base Rent Period shall be payable equal the sum of: (1) (A) Stipulated Loss Value on the first day of such Base Rent Period, times (B) one minus the Collateral Percentage for such Base Rent Period, times (C) the sum of (i) the Effective Rate for such Base Rent Period and (ii) the Spread calculated on the tenth (10th) Business Day prior to the day upon which such Base Rent Period commences, times (D) the number of days in such Base Rent Period, divided by (E) three hundred sixty (360); PLUS (2) (A) Stipulated Loss Value on the first day of such Base Rent Period, times (B) the Collateral Percentage for such Base Rent Period, times (C) twenty-two and one-half basis points (22.5/100 of 1%), times (D) the number of days in such Base Rent Period, divided by (E) three hundred sixty (360) Assume, only for the purpose of illustration: that a hypothetical Base Rent Period contains exactly ninety (90) days; that prior to the first day of such Base Rent Period a total of $44,800,000 of Qualified Payments have been received by Landlord, leaving a Stipulated Loss Value of $30,000,000 (the Initial Funding Advance of $74,800,000 less the Qualified Payments of $44,800,000); that the Collateral Percentage for such Base Rent Period is forty percent (40%); and that the Effective Rate for the applicable Base Rent Period is 6%. Under such assumptions, the Base Rent for the hypothetical Base Rent Period will equal: $30,000,000 x 60% x 6% x 90/360, or $270,000, PLUS $30,000,000 x 40% x .225% x 90/360, or $6,750 = $276,750 To ease the administrative burden of this Lease and the Pledge Agreement, clause (2) in the formulas above for calculating Base Rent reflects a reduction in the Base Rent equal to the interest that would accrue on any Collateral required by the Pledge Agreement from time to time if the Accounts (as defined in the Pledge Agreement) bore interest at the Effective Rate. Landlord has agreed to such reduction in the Base Rent to provide Tenant in accordance with the following schedule: Period economic equivalent of New Term Monthly Installments interest on such Collateral, and in return Tenant has agreed to the provisions of the Pledge Agreement that excuse the actual payment of interest on the Accounts. By incorporating such reduction of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not into the formulas above, and by providing for noninterest bearing Accounts in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunderPledge Agreement, the exact amount parties will avoid an unnecessary and cumbersome periodic exchange of such costs being extremely difficult and impracticable to ascertainequal payments. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; providedIt is not, however, the intent of Landlord or Tenant acknowledges and agrees that nothing to understate Base Rent or interest for financial reporting purposes. Accordingly, for purposes of determining Tenant's compliance with the affirmative financial covenants set forth in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawssubparagraph 8.(ac), and for purposes of any financial reports that this Lease requires of Tenant from time to time, Tenant may report Base Rent as if there had been no such reduction and as if the Collateral from time to time required by the Pledge Agreement had been maintained in Accounts bearing interest at the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodEffective Rate.

Appears in 1 contract

Sources: Lease Agreement (3com Corp)

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the amount set forth on the first page of this Lease. The first payable month's Base Rent, effective the Security Deposit, and the first payable monthly installment of estimated Operating Expenses (as of hereafter defined) shall be due and payable on the New Term Commencement Datedate hereof, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent for the Premises shall be payable by Tenant Rent, in accordance with the following schedule: Period Monthly Base Rent table, on or before the first day of New Term Monthly Installments each calendar month succeeding the Rent Commencement Date. Payments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for any fractional calendar month shall be prorated. All payments required to be made by Tenant is not to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in default under the Amended Lease, Landlord hereby agrees accordance herewith. Tenant shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent ▇, reduce, or set-off any rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anyhereunder except where expressly provided in this Lease. Tenant acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being extremely difficult and impracticable impractical to ascertaindetermine. Therefore, should if Tenant at is delinquent in any time during the New Term monthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for more than five (5) days after written notice from Landlord, provided, however, that Tenant shall be in default after having been given entitled to only one (1) such written notice per calendar year and opportunity thereafter no written notice shall be required, Tenant shall pay to cure, then, Landlord on demand a late charge equal to five percent (5%) of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord’s 's other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord hereunder or at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodshall not be construed as a penalty.

Appears in 1 contract

Sources: Lease Agreement (Haights Cross Communications Inc)

Base Rent. Notwithstanding anything to the contrary Tenant shall pay Base Rent in the Leaseamount set forth above. The Security Deposit shall be due and payable on the date hereof, effective as and the first month's Base Rent and the first monthly installment of estimated Additional Rent for Common Area Land shall be due and payable on the New Term Rent Commencement Date. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off (except as expressly provided in this Lease), monthly installments of Base Rent on or before the first day of each calendar month succeeding the Rent Commencement Date. Payments of Base Rent for the Premises any fractional calendar month shall be appropriately prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address in the United States as Landlord may specify from time to time by Tenant written notice delivered in accordance with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation to pay all ▇, reduce or set-off any rent due hereunder except as may be expressly provided in this Lease. Within ten (10) days after the Substantial Completion of the Building Shell (as defined in Addendum 2), Landlord, at Landlord's cost and expense, shall have Landlord's project architect measure the square footage of the Building from dripline to dripline on each side of the exterior of the outer walls of the Building. If the measured square footage of the Building (as finally determined under this paragraph) is less than 600,000 square feet, then this Lease shall be amended to reflect the actual measured square footage of the Building, the monthly installments of Base Rent due during under the Lease shall be reduced (both retroactively and for the remainder of the Lease Term) by $3.48 per year for each square foot by which the Building is less than 600,000 square feet, and Tenant's Project Proportionate Share and Additional Rent for the Common Area Land shall be adjusted accordingly (both retroactively and for the remainder of the Lease Term). Within 5 days after Landlord's architect determines the square footage of the Building in accordance with the method contained in the first (18) through eighth (8th) months sentence of this paragraph, Landlord shall cause Landlord's project architect to certify to Landlord and Tenant in writing such determination of the New Term (i.e.square footage of the Building. Tenant's architect may review such certification and if Tenant's architect disputes such measurement, September 1then Landlord's project architect and Tenant's architect shall use good faith efforts to try and resolve the dispute over the measurement. In connection therewith, 2011 through April 30Tenant's architect shall have the right to measure the Building in accordance with the method of measurement set forth in the first sentence of this paragraph. If the two architects are unable to resolve the dispute over the measurement within 15 days, 2012) (then the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as two architects shall choose a third architect who is impartial and independent and the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, third architect shall measure the total unamortized sum square footage of such Abated Amount the Building in accordance with the terms of this paragraph and the Forgiven Rent third architect's measurement of the square footage of the Building shall be final and binding on both Landlord and Tenant. If the Abated Parking Charges measured square footage of the Building (amortized on a straight line basis over as finally determined under this paragraph) is equal to or greater than 600,000 square feet, then the New Term) so conditionally excused Lease shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law not be amended or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodmodified.

Appears in 1 contract

Sources: Lease Agreement (Barnesandnoble Com Inc)

Base Rent. Notwithstanding anything Upon execution of this Lease, Tenant shall pay to Landlord the contrary in first payment of Monthly Base Rent, FOE and Taxes payable under the Lease, effective and thereafter Tenant shall pay all such payments in advance, without demand no later than the first day of each calendar month following the Commencement Date (prorated for any fractional calendar month). Tenant shall make all payments to Landlord (or to such other party or at such location as of the New Term Commencement Date, monthly installments of Base Rent for the Premises shall be payable Landlord may from time to time specify in writing) by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to Electronic Fund Transfer or Automated Clearing House. Tenant’s payment obligations and ▇▇▇▇▇ Tenant▇▇▇▇’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended this Lease during such Abatement Months, if anyare independent obligations. Tenant acknowledges that shall not ▇▇▇▇▇, reduce or set-off any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertainamounts payable except as may be expressly provided in this Lease. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Without limiting Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately if Tenant is delinquent in any payment due and payable by Tenant to Landlord; provided, howeverfor more than 5 days, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available shall pay to Landlord at law or in equity under applicable law on demand as a late charge (including, without limitation, and not as a penalty) an amount equal [***] percent [***]% of the remedies under Civil Code delinquent sum. FOE represents payment for Landlord’s costs incurred for insurance premiums (see Section 1951.2 and/or 1951.4 and any successor statutes or similar laws9), Landlord’s costs for repair and maintenance (see Section 10), and association and property management fees. The amount of Monthly Taxes represents one-twelfth (1/12th) of ▇▇▇▇▇▇’s Share of Taxes incurred with respect to the tax parcel on which the Building is situated (see Section 8) as estimated by Landlord from time to time. Tenant shall be responsible only for Tenant’s Share of actual Taxes in any calendar year. Any difference between ▇▇▇▇▇▇’s estimated payments and ▇▇▇▇▇▇’s Share of actual Taxes will be reconciled annually no later than 90 days following the first day of a calendar year by either Landlord or Tenant making payment to the other, as applicable, within 60 days after such determination. Tenant’s Share may be proportionately adjusted for changes in the event Tenant defaults under size of the Amended Lease beyond any applicable notice and cure periodPremises, Building, or Project.

Appears in 1 contract

Sources: Lease Agreement (ERock, Inc.)

Base Rent. Notwithstanding anything A. Tenant covenants and agrees to pay to Landlord during the contrary in Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the Lease, effective as full amount of the New Term Commencement Date, monthly installments of all Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base and Additional Rent due during hereunder and the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such full amount of abated Base Rent being hereinafter collectively referred to all such other sums of money as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations shall become due under the Amended this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 any charges for replacement of electric lamps and ballasts and any successor statutes other services, goods or similar lawsmaterials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” Rent payments shall be sent to: CB ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ 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 the event addition to all other payments required to be paid to Landlord by Tenant defaults under the Amended 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 beyond 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 applicable notice extensions or renewals hereof, and cure periodTenant 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 Lease. B. To the extent allowed by law, all instalments of Rent not paid within five (5) days of when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to pay any instalment of Base Rent and Additional Rent or any other item of Rent when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord.

Appears in 1 contract

Sources: Industrial Building Lease (Amedica Corp)

Base Rent. Notwithstanding anything to Tenant shall pay Landlord as "Base Rent" for the contrary in the Lease, effective as of the New Term Commencement DatePremises, monthly installments in the following sums: (a) Upon execution of this Lease, One Hundred and Twenty-Five Thousand Five Hundred and Sixty Dollars ($125,560), Sixty-Two Thousand Seven Hundred and Eighty Dollars ($62,780) to be applied as Base Rent for the first month following the Commencement Date for the first floor of the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of ("First Floor Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under Initial Payment") and Sixty-Two Thousand Seven Hundred and Eighty Dollars ($62,780) to be applied as Base Rent for the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all first month following the Second Floor Rent Commencement Date for the second floor of the monthly installments of Premises ("Second Floor Base Rent due during Initial Payment"). (b) On the first (18) through eighth (8th) months day of the New Term first full calendar month following the Commencement Date, until the first day of the first full calendar month following the Second Floor Rent Commencement Date, Sixty-Two Thousand Seven Hundred and Eighty Dollars (i.e., September 1, 2011 through April 30, 2012$62,780) (the “Abatement Months”) (such amount of abated as Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment first floor of all other monetary obligations due under the Amended Lease during such Abatement MonthsPremises, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, that if the Commencement Date falls on a date other than the first day of the month, Tenant acknowledges and agrees that nothing shall be credited in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, such first full calendar month the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), amount by which Tenant's First Floor Base Rent Initial Payment exceeded the amount which Tenant would have paid in the event month in which the Commencement Date occurred had the Base Rent applicable to the first floor of the Premises been prorated for such partial month. (c) On the first day of the first full calendar month following the Second Floor Rent Commencement Date, One Hundred and Twenty-Five Thousand Five Hundred and Sixty Dollars ($125,560) as Base Rent for the first and second floor of the Premises, provided, however, that if the Second Floor Rent Commencement Date falls on a date other than the first day of the month, Tenant defaults under shall be credited in such first full calendar month following the Amended Lease beyond any Second Floor Rent Commencement Date the amount by which Tenant's Second Floor Base Rent Initial Payment exceeded the amount which Tenant would have paid in the month in which the Second Floor Commencement Date occurred had the Base Rent applicable notice and cure period.to the second floor of the Premises

Appears in 1 contract

Sources: Single Tenant Absolute Net Lease (Handspring Inc)

Base Rent. Notwithstanding anything to the contrary in the Lease, effective as “Base Rent” for each month or year of the New Lease Term Commencement Dateis: Months 1-3 [***] [***] Months 4-12 [***] [***] Months 13-24 [***] [***] Months 25-36 [***] [***] Months 37-48 [***] [***] Months 49-60 [***] [***] Months 61-63 [***] [***] Months 64-75 [***] [***] Months 76-87 [***] [***] *As reflected above, Tenant shall have no obligation to pay monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first initial three (18) through eighth (8th3) months of the New Lease Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Free Rent being hereinafter collectively referred to as the “Abated AmountPeriod”), reflecting the abatement of Rent for each of the three (3) months of the Free Rent Period. During If the Lease is terminated during such Abatement MonthsFree Rent Period, Tenant will still shall not be responsible entitled to any such rent abatement after the date of termination nor shall Tenant be entitled to assert any right to rent abatement after such termination against any sums due Landlord. The rent abatement granted under this Section is solely for the payment benefit of all other monetary obligations due under Imricor Medical Systems, Inc., and shall not be transferable to any assignee or subtenant. In the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any event of a default by Tenant under the Amended terms of this Lease will cause which results in early termination pursuant to the provisions hereof, then as a part of the recovery to which Landlord to incur costs not contemplated hereundershall be entitled shall be included a portion of such rent which was abated under the provisions of this Section, which portion shall be determined by multiplying the total amount of rent which was abated under this Section by a fraction, the exact amount numerator of which is the number of months remaining in the Term of this Lease at the time of such costs being extremely difficult default and impracticable to ascertain. Therefore, should Tenant at any time the denominator of which is the number of months during the New Term be in default after having been given notice and opportunity that Tenant is obligated to curepay monthly Rent. Notwithstanding the foregoing, then, in addition to all of Landlord’s other rights and remedies, during the total unamortized sum of such Abated Amount and the Forgiven Free Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, howeverPeriod, Tenant acknowledges shall be required to pay its utilities and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, expenses not defined as Rent during the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodEarly Access Period.

Appears in 1 contract

Sources: Office/Warehouse Lease Agreement (Imricor Medical Systems, Inc.)

Base Rent. Notwithstanding anything to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Base Rent for the Premises Suite 2600 and 2700 Expansion Space shall be calculated separate and apart from the Base Rent payable by Tenant for the Original Premises, the 28th Floor Expansion Space, the Second Amendment Expansion Space, the 34th Floor Expansion Space and the 35th Floor Expansion Space during the Suite 2600 and 2700 Lease Term. Effective as of the Rent Commencement Date (as defined and qualified in accordance with Sections 7(b) and 10 of the Work Letter), Base Rent for the Suite 2600 and 2700 Expansion Space shall be as set forth in the following schedule: Period of New Term Monthly Installments of Months/PeriodCommencing on theRent Commencement Date Annual Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not MonthlyInstallmentsof Base Rent AnnualRental Rate perRentable Square Foot 73 until theLease Termination Date $1,052,180.25 $87,681.69 $42.99 *Gross Base Rent shall be prorated for any partial month in default under which the Amended LeaseRent Commencement Date occurs. Notwithstanding the foregoing, Landlord hereby agrees to ▇▇▇▇▇ in full Tenant’s 's obligation to pay all of the monthly installments of Base Rent and Direct Expenses due during the first second (182nd) through eighth (8th) full calendar months starting on the first day of the New Term (i.e., September 1, 2011 through April 30, 2012) first full month following the Rent Commencement Date (the "Abatement Months") (such amount of abated Base Rent and Direct Expenses being hereinafter collectively referred to as the "Abated Amount"). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement MonthsLease. The anticipated Rent Commencement Date of May 1, if any. 2015 shall be extended one (1) day for each day Tenant acknowledges that any default by is actually delayed in designing, permitting and constructing its Tenant under Improvements in, and moving into, Suite 2600 and Suite 2700 because of Landlord Delays or Force Majeure Events as set forth in Exhibit B but not beyond the Amended Lease date Tenant commences business operations from Suite 2600 and Suite 2700 but in no event will cause Landlord to incur costs not contemplated hereunderthe Rent Commencement Date occur earlier than May 1, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period2015.

Appears in 1 contract

Sources: Office/Retail Lease (KBS Real Estate Investment Trust II, Inc.)

Base Rent. Notwithstanding anything to the contrary in the Lease, effective as of the New Term Commencement Date, monthly installments of Base Rent for the Premises shall be payable by A. Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby covenants and agrees to ▇▇▇▇▇ Tenant’s obligation pay to pay all of the monthly installments of Base Rent due Landlord during the first (18) through eighth (8th) months of the New Term (i.e.Lease Term, September 1without any setoff or deduction, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to except as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law otherwise expressly provided herein (including, without limitation, the remedies Improvement Cost offset described below in Section 5.D.), the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under Civil Code Section 1951.2 and/or 1951.4 this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts and any successor statutes other services, goods or similar lawsmaterials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” The Rent for each calendar year or portion thereof during the Lease Term, except as specifically offset herein, shall be due and payable in advance in monthly installments of the event first day of each calendar month during the Lease Term and any extensions or renewals hereof, and Tenant defaults hereby agrees to pay such 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 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 Amended Lease beyond earliest Rent due hereunder, nor shall any applicable notice endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and cure periodsatisfaction, and Landlord may accept such check or payment 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 a date after the due date of such payment shall not be construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord.

Appears in 1 contract

Sources: Office Lease Agreement (Graymark Healthcare, Inc.)

Base Rent. Notwithstanding anything In consideration of the leasing aforesaid, and subject to the contrary in the Leaseterms, effective as provisions and conditions of the New Term Commencement Date, monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, this Section 1.1), Tenant agrees to pay to Landlord, by wire transfer of immediately available funds to Landlord as follows: MB Financial Bank ABA # ▇▇▇▇▇▇▇▇▇ for credit to the remedies under Civil Code Section 1951.2 and/or 1951.4 account of Lake Forest Landmark Company, LLC Account # ▇▇▇▇▇▇▇▇ or at such other place as Landlord from time to time may designate in writing to Tenant (such modified payment instructions being effective only as to payments due to Landlord after the expiration of ten (10) business days after delivery of such written notice to Tenant), an annual base rental commencing on January 1, 2019 (the “Rent Commencement Date”) and continuing throughout the Term, based on the RSF of the Premises and the annual base rental rate set forth in the schedule of Base Rent below. The “RSF” for the Building and the Premises are as set forth in Recital A hereof and Recital C hereof, respectively, and were determined by Landlord in accordance with the methods of measuring rentable area as described in the “Standard Method for Measuring Floor Area in Office Buildings” approved by the American National Standards Institute, Inc. and the Building Owners and Managers Association International (ANSI/BOMA Z65.1-2017), consistently applied (“BOMA Standards”). Upon completion of the Initial Work (as defined below), Landlord shall re-determine the RSF of the Premises based on BOMA Standards and notify Tenant of such calculation in writing (“Landlord’s RSF Determination”), and subject to the remaining provisions of this paragraph, any successor statutes applicable adjustments shall be deemed to have been made based on such re-determined RSF (including an adjustment of Base Rent, Tenant’s Pro Rata Share of Real Estate Taxes and Tenant’s Pro Rata Share of Operating Expenses). Tenant shall have ten (10) days to review Landlord’s RSF Determination and to notify Landlord whether it agrees or similar lawsdisagrees with the calculations with respect thereto. If Tenant fails to notify Landlord in writing of its disagreement with Landlord’s RSF Determination within such ten (10) day period, then the size of the Premises shall be conclusively deemed to be the size set forth in Landlord’s RSF Determination. If Tenant timely notifies Landlord in writing of its disagreement with Landlord’s RSF Determination, then Landlord and Tenant shall use diligent, good faith efforts to agree upon the RSF of the Premises within ten (10) days after Tenant delivers its notice of disagreement. If Landlord and Tenant fail to so agree, then Tenant shall have the right, by delivering written notice to Landlord prior to the end of such ten (10) day period, to have the RSF of the Premises determined by a reputable third architect reasonably acceptable to Landlord through field measurement (using the BOMA standards described above), which determination shall be conclusive and binding on the parties. Tenant shall bear the cost of such third party architect unless, based on such field measurement, the RSF of the Premises, as so determined by such third party architect, differs from that set forth in Landlord’s RSF Determination by more than three percent (3%), in which event Landlord will bear the event cost of such third party architect. If Tenant defaults under fails to notify Landlord in writing of its intention to re-measure the Amended space within the ten (10) day period described above, then the RSF of the Premises as set forth in Landlord’s RSF Determination shall be final and conclusive. Upon the final determination of the RSF of the Premises in accordance with the provisions set forth above, Landlord and Tenant shall execute an amendment to this Lease beyond reflecting the final RSF of the Premises and any applicable notice related required modifications to this Lease as a result thereof, including modifications of Base Rent, Tenant’s Pro Rata Share of Real Estate Taxes and cure periodTenant’s Pro Rata Share of Operating Expenses. From and after the Rent Commencement Date through the expiration of the Initial Term, Tenant will pay to Landlord an annual base rental for the Premises as follows (it being agreed that the amounts set forth below for the “Annual Base Rent” and the “Monthly Base Rent” assume that the Premises will contain 31,209 RSF): The aforesaid annual rental amounts are sometimes herein referred to as the “Base Rent,” and will be payable monthly, in advance, in equal monthly installments, commencing on the Rent Commencement Date and continuing on the first day of each and every month thereafter for the next succeeding months during the balance of the Term. If the Rent Commencement Date is a date other than the first day of the calendar month in which the same occurs, monthly rent for the first month of the Term will be prorated based upon the ratio that the number of days in the Term within such month bears to the total number of days in such month.

Appears in 1 contract

Sources: Office Lease (Depomed Inc)

Base Rent. The Base Rent shall be as follows: (a) For the first nineteen (19) months after the Effective Date (the “Rent Abatement Period”), Base Rent shall be $0, which is equivalent to a total abatement of Base Rent in the amount of $2,405,989 (“Abated Rent”). (b) If Substantial Completion has not occurred as a result of a Landlord Delay prior to the expiration of the Rent Abatement Period, until the Substantial Completion Date (or the date on which Substantial Completion would have occurred but for a Force Majeure Delay or Tenant Delay) monthly Base Rent shall be calculated as $126,631 multiplied by a ratio calculated as follows: the square footage of the Building that has received a final certificate of occupancy divided by the entire square footage of the Building ($126,631 × ([the square footage of the Building that has received a certificate of occupancy ÷ entire square footage of the Building])). (c) From and after the Substantial Completion Date (or the date on which Substantial Completion would have occurred but for a Force Majeure Delay or Tenant Delay) and continuing for twelve (12) full calendar months thereafter (such twelve-month period being the first “Rent Year”), Base Rent shall be $126,631. (d) Beginning on the first (1st) day of the second (2nd) Rent Year, and on the first day of each Rent Year thereafter, Base Rent shall be as follows: Base Rent shall be payable, in advance, in equal monthly installments on the first day of each calendar month that Base Rent is payable. Notwithstanding anything to the contrary contained in this Lease, in the Leasecase of Event of Default by Tenant results in early termination pursuant to the provisions of Section 11.3, effective as Landlord shall be entitled to the recovery of the New Term Commencement DateAbated Rent, monthly installments provided that the amount of Base the Abated Rent for the Premises that Landlord is entitled to recover shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all unamortized portion of the monthly installments of Base Abated Rent due during as amortized over the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodbasis.

Appears in 1 contract

Sources: Lease Agreement

Base Rent. Tenant shall continue paying Base Rent with respect to the Original Premises, Expansion Premises and Second Expansion Premises as set forth in Exhibit A to the Fifth Amendment through December 31, 2025. Notwithstanding anything to the contrary contained in the Lease, effective as on the Sixth Amendment Adjustment Date, Tenant shall commence paying Base Rent with respect to the entire Premises in the amount of $39.00 per rentable square foot of the New Term Commencement Date, monthly installments of Premises per year. Base Rent for with respect to the entire Premises shall thereafter be payable increased on each annual anniversary of the Sixth Amendment Adjustment Date (each, a “Sixth Amendment Rent Adjustment Date”) by Tenant in accordance with multiplying the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided payable immediately before such Sixth Amendment Rent Adjustment Date by 3% (the “Sixth Amendment Rent Adjustment Percentage”) and adding the resulting amount to the Base Rent payable immediately before such Sixth Amendment Rent Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Notwithstanding anything to the contrary contained herein, so long as Tenant is not in default Default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due shall be abated during (i) the first (18) through eighth (8th) months of the New Term (i.e., September period commencing on January 1, 2011 2026, through April 30March 31, 2012) 2026 (the “Abatement Months”) (such amount of abated Initial Base Rent being hereinafter collectively referred to as Abatement Period”), and (ii) the period commencing on January 1, 2027, through March 31, 2027 (the “Abated AmountSubsequent Base Rent Abatement Period”; with the Initial Base Rent Abatement Period, collectively, the “Base Rent Abatement Periods”). During such Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Initial Base Rent Abatement MonthsPeriod and the Subsequent Base Rent Abatement Period, as applicable. For the avoidance of doubt, during the Base Rent Abatement Periods, Tenant will still shall be responsible for required to pay administration rent each month equal to the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable the administration rent that Tenant would have been required to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), pay in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodabsence of there being Base Rent Abatement Periods.

Appears in 1 contract

Sources: Lease Agreement (Humacyte, Inc.)

Base Rent. Notwithstanding anything to the contrary (a) Tenant shall pay Base Rent in the amounts set forth on the first page of this Lease. The Prepaid Rent (as set forth in the Basic Lease Provisions above) shall be due and payable on the date hereof (and shall be applied against Base Rent and Operating Expenses first due under this Lease), effective as of the New Term Commencement Dateand Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date. Payments of Base Rent for the Premises 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 Tenant written notice delivered in accordance with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to a▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent , reduce, or set-off any rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anyhereunder except where expressly provided in this Lease. Tenant acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being extremely difficult and impracticable impractical to ascertaindetermine. Therefore, should if Tenant at is delinquent in any time during monthly installment of Base Rent, estimated Operating Expenses or 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 (provided, however, with respect to the New Term first late payment in any twelve (12) month period only, such late charge shall not be in default after having been given due and payable unless Tenant fails to pay the applicable amount within five (5) days following written notice from Landlord that such amount is past-due). The parties agree that such late charge represents a fair and opportunity reasonable estimate of the costs that Landlord will incur by reason of such late payment by Tenant. The late charge shall be deemed to curebe rent, then, and the right to require it shall be in addition to all of Landlord’s other rights and remediesremedies for a payment failure of Tenant, including the right to charge interest on the past due amount. (b) Subject to the terms and conditions of this Paragraph 4(b), provided that Tenant is not then in default under this Lease, and has not been in monetary or material non-monetary default (beyond the expiration of any applicable notice and cure period), Tenant shall be credited with the payment of monthly Base Rent with respect to the Premises for the first (1st) and second (2nd) full calendar months of the initial Lease Term only (collectively, the total unamortized sum of such Abated Amount “Base Rent Credit”), as and when the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately same becomes due and payable, for a total Base Rent Credit equal to $65,875.00 in the aggregate. No such Base Rent Credit shall reduce or limit any other amounts which are otherwise payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in under this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law Lease (including, without limitation, Operating Expenses). Tenant understands and agrees that the remedies foregoing Base Rent Credit is conditioned upon T▇▇▇▇▇’s not being in default under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in this Lease (beyond the event Tenant defaults under the Amended Lease beyond expiration of any applicable notice and cure period.). Accordingly, upon the occurrence of any default under this Lease, the foregoing Base Rent Credit shall immediately become null and void to the extent it would have been applicable to future payments. In addition, if Landlord should terminate this Lease as a result of any default by Tenant then, in addition to all other rights and remedies of Landlord, any Base Rent previously credited to Tenant shall immediately become due and payable

Appears in 1 contract

Sources: Lease Agreement (FireFly Automatix, Inc.)

Base Rent. 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 the address shown above. One monthly installment shall be due and payable on or before the 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 in the Leasecontrary, effective as if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the New Term Premises to the Tenant on the Commencement Date, monthly installments this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of Base Rent for the Premises term be extended, but all rent shall be payable by Tenant in accordance with abated until Landlord delivers possession. Notwithstanding the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws)above, in the event Landlord has not delivered the Premises to the Tenant defaults under on or before September 1, 1996 due to non-Tenant caused delays, Tenant may terminate this Lease with no further obligation. Landlord and Tenant agree that the Amended base rental rate contained herein is based on construction costs estimated at $566,390.00. Tenant agrees to contribute $75,000.00 towards construction of the Premises, payable to Landlord in $25,000.00 lump sum payments, the first payable upon Lease beyond any applicable notice execution by both parties, the second payable thirty (30) days following Lease execution, and cure periodthe third due sixty (60) days after Lease execution. Construction cost increases or savings of $30,000.00 or less above or below the estimated construction cost of $566,390.00 shall he amortized at nine percent (9%) over the original term of this Lease and added or subtracted from the monthly base rental. Tenant improvement cost savings above $30,000.00 shall benefit the Landlord, and additional tenant improvement costs of more than $30,000.00 over $566,390.00 shall be paid to Landlord upon finalization of tenant improvement costs, at which time Landlord end Tenant agree to enter into a Lease addendum depicting the new base rental rate, if such rate is adjusted as contained in this section.

Appears in 1 contract

Sources: Lease (Intranet Solutions Inc)

Base Rent. Notwithstanding anything A. Tenant covenants and agrees to pay to Landlord during the contrary in Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the Lease, effective as full amount of the New Term Commencement Date, monthly installments of all Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base and Additional Rent due during hereunder and the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such full amount of abated Base Rent being hereinafter collectively referred to all such other sums of money as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations shall become due under the Amended this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 any charges for replacement of electric lamps and ballasts and any successor statutes other services, goods or similar lawsmaterials furnished by Landlord at Tenant’s request that are not included in Basic Costs), 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 the event addition to all other payments required to be paid to Landlord by Tenant defaults under the Amended 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 beyond 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 applicable notice extensions or renewals hereof, and cure periodTenant 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 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 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 balance or pursue any 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 construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or any other item of Rent when due and payable hereunder, a Late Charge equal to five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord. C. The Additional Rent payable hereunder shall be adjusted from time-to-time in accordance with the provisions of Exhibit C attached hereto and incorporated herein for all purposes.

Appears in 1 contract

Sources: Office Lease Agreement (VirtualArmour International Inc.)

Base Rent. Notwithstanding anything to For purposes of this Lease, the contrary “Base Rent Commencement Date” shall mean the later of (a) forty-five (45) days following Substantial Completion of the Leasehold Improvement Work for the North Building (as defined in the LeaseConstruction Addendum), effective as and (b) November 1, 2008; provided that Substantial Completion of the New Term Leasehold Improvement Work has been achieved. Commencing on the Base Rent Commencement Date, monthly installments of Tenant hereby covenants and agrees to pay “Base Rent for the Premises shall be payable by Tenant Rent” in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not schedule set forth in default under the Amended Exhibit “D,” attached hereto and made a part hereof. Base Rent shall be paid without demand, set off or deduction, except as otherwise expressly set forth in this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law the address set forth in this Lease or such other address as Landlord directs in equity under applicable law (includingwriting, without limitationand shall be paid in advance in equal monthly installments on the first day of each month in lawful United States currency, together with any and all rental, sales or use taxes levied by any governmental body having authority upon the use or occupancy of the Premises and any rent or other charges payable hereunder. If the Base Rent Commencement Date should be a date other than the first day of a calendar month, the remedies under Civil Code Section 1951.2 and/or 1951.4 monthly rental applicable to the first full calendar month will also apply to the initial partial calendar month and will be prorated to the end of the partial calendar month. As provided in, and subject to the terms of, the Construction Addendum, if any successor statutes or similar laws)Tenant Delay delays Substantial Completion of the Leasehold Improvement Work, in then Substantial Completion of the event Leasehold Improvement Work shall be deemed to be the date that Substantial Completion of the Leasehold Improvement Work would have been achieved, but for such Tenant defaults under the Amended Lease beyond any applicable notice and cure periodDelay, as reasonably determined by Landlord.

Appears in 1 contract

Sources: Lease Agreement (Office Depot Inc)

Base Rent. Notwithstanding anything 3.1 Commencing on June 1, 1998 (the "Rent Commencement Date") and continuing throughout the remainder of the Lease Term, Tenant shall pay to Landlord as annual base rent for the Premises, without set off, deduction or demand, an amount equal to the contrary sum of Twenty-Six Dollars ($26.00) multiplied by the total number of square feet of Net Rentable Area in the Premises, which amount shall be subject to adjustment as provided in Section 3.2 hereof. The annual base rent payable hereunder during each Lease Year shall be divided into equal monthly installments and such monthly installments shall be due and payable in advance on the first day of each month during such Lease Year. Concurrently with the signing of this Lease, effective as Tenant shall pay to Landlord the sum of Fifty Thousand Nine Hundred Ninety-Nine Dollars ($50,999.00), which sum shall be credited by Landlord toward the monthly installment of base rent due for the first full calendar month falling within the Lease Term. If the Lease Term begins on a date other than on the first day of a month, rent from such date until the first day of the New Term Commencement Datefollowing month shall be prorated on a per diem basis at the base rate payable during the first Lease Year, monthly installments of Base Rent for the Premises and such prorated rent shall be payable by Tenant in accordance with advance on the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during Lease Commencement Date. 3.2 Commencing on the first (181st) through eighth (8th) months day of the New Term second (i.e.2nd) Lease Year and on the first (1st) day of each and every Lease Year thereafter during the Lease Term, September 1, 2011 through April 30, 2012the annual base rent shall be increased by two and one-half percent (2.5%) (of the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible annual base rent payable for the payment immediately preceding Lease Year. 3.3 All rent shall be paid to Landlord in legal tender of all the United States at the address to which notices to Landlord are to be given or to such other monetary obligations due under the Amended Lease during party or to such Abatement Months, if anyother address as Landlord may designate from time to time by written notice to Tenant. Tenant acknowledges that any default by Tenant under the Amended Lease will cause If Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant shall at any time during the New Term accept rent after it shall become due and payable, such acceptance shall not excuse a delay upon subsequent occasions, or constitute or be in default after having been given notice and opportunity to cure, then, in addition to all construed as a waiver of any of Landlord’s other 's rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodhereunder.

Appears in 1 contract

Sources: Lease Agreement (Cta Incorporated)

Base Rent. Notwithstanding anything to the contrary (a) Tenant shall pay monthly Base Rent in the amounts set forth on the first page of 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, effective as of the New Term Commencement Datewithout demand, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date. Payments of Base Rent for the Premises 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 Tenant written notice delivered in accordance with herewith; provided, however, Tenant shall have the following schedule: Period right to pay rent electronically pursuant to Landlord’s ACH procedures. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations and shall constitute rent. Tenant is not in default under the Amended Lease, Landlord hereby agrees shall have no right at any time to ▇▇▇▇▇ Tenant’s obligation ▇, reduce, or set-off any rent due hereunder except where expressly provided in this Lease, and shall not be excused from paying any rent due hereunder for any reason whatsoever, except as expressly set forth to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if anycontrary in this Lease. Tenant acknowledges that any default late payment by Tenant under the Amended Lease to Landlord of any rent due hereunder will cause Landlord to incur costs not contemplated hereunderby this Lease, the exact amount of such costs being extremely difficult and impracticable impractical to ascertaindetermine. Therefore, should if Tenant at is delinquent in any time during monthly installment of Base Rent, estimated Operating Expenses or other sums due and payable hereunder for more than [***] ([***]) days, Tenant shall pay to Landlord on demand a late charge equal to [***] percent ([***]%) of such delinquent sum. The parties agree that such late charge represents a fair and reasonable estimate of the New Term costs that Landlord will incur by reason of such late payment by Tenant. The late charge shall be in default after having been given notice deemed to be rent, and opportunity the right to cure, then, require it shall be in addition to all of Landlord’s 's other rights and remediesremedies for a payment failure of Tenant, including the right to charge interest on the past due amount. (b) Subject to the terms and conditions of this Paragraph 4(b), provided that Tenant is not then in default under this Lease, Tenant shall be credited with the payment of monthly Base Rent with respect to the Premises for the first [***] ([***]) full calendar months of the initial Lease Term only (collectively, the total unamortized sum of such Abated Amount "Base Rent Credit"), in each case as and when the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately same becomes due and payable, for a total Base Rent Credit equal to Eight Hundred Fifteen Thousand Nine Hundred Sixty-Five and No/100 Dollars ($815,965.00) in the aggregate. Such Base Rent Credit shall not reduce or limit any other amounts which are otherwise payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in under this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law Lease (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawsOperating Expenses), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 1 contract

Sources: Lease Agreement (Sana Biotechnology, Inc.)

Base Rent. Notwithstanding anything Tenant agrees to pay monthly as Base Rent during the contrary Term of this Lease the sum set forth in the Section 1.5 of this Lease, effective as of which amount shall be payable to Landlord at the New Term Commencement Date, address shown above. The first monthly installments installment of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable to Landlord on the Commencement Date for the first month’s rent and each monthly installment of rent shall be due and payable on or before the 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 during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Tenant shall pay the first Delivery Fee payment to Landlord immediately upon Landlord’s delivery of the Premises to Tenant. Notwithstanding anything in this Lease to the contrary, if Landlord cannot deliver possession of the Premises to the Tenant on the Delivery Date due to a holding over by a prior tenant, Tenant’s default, or casualty affecting the Premises, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant to Landlord; providedfor any loss or damage resulting therefrom, but the Delivery Fee and all rents and other amounts due hereunder shall be abated until Landlord delivers possession and the expiration date of the Lease shall be extended by the corresponding number of days that the Commencement Date is postponed. Provided, however, if Landlord does not deliver possession of the Premises to Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to within thirty (30) days after the Delivery Date, then Tenant may terminate the Lease upon giving Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodwritten notice.

Appears in 1 contract

Sources: Commercial Lease (Enpath Medical Inc)

Base Rent. Notwithstanding anything to the contrary in the Lease, effective as As part of the New Term Commencement Dateconsideration for the execution of this Lease Agreement, Lessee covenants and agrees and promises to pay as base rent monthly installments of Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) rental schedule set forth below (the “Abatement MonthsBase Rent”) in legal tender of the United States of America payable to Lessor at the Building management office (or such amount other address as may be designated by Lessor in writing from time to time) in advance, without demand and without deduction, on the first day of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 each calendar month during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlordhereof; provided, however, Tenant acknowledges the first monthly payment of Base Rent shall be made on the Effective Date of this Lease Agreement. Such Base Rent shall be subject to adjustments as hereinafter provided. After the 5th day of the month in which rent is due, rent shall be considered delinquent and agrees that nothing Lessee shall be required to pay Lessor a sum equal to five percent (5%) of any monthly rental required to be paid by Lessee to Lessor under the terms hereof. The covenants by Lessee to pay rent under this Lease are independent of any other covenants of Lessor as set forth in this Section 2 Lease. Lessee acknowledges that Lessor’s failure to provide written invoices shall in no way serve to waive any of Lessee’s obligations to pay Base Rental or Additional Monthly Rent owing under the terms of the Lease. Months 1 to 12 $6,504.33 per month Months 13 to 24 $6,699.46 per month Months 25 to 36 $6,899.60 per month Months 37 to 48 $7,107.24 per month Months 49 to 60 $7,319.88 per month In addition to the foregoing rent, Lessee agrees to pay to Lessor all charges for any services, goods or materials furnished by Lessor at Lessee's request which are not required to be furnished by Lessor under this Lease Agreement within fifteen (15) days of the date on which a written invoice is intended delivered. Lessee acknowledges that Lessor’s failure to limit provide such written invoices shall in no way serve to waive any of Lessee’s obligation to pay any other remedies available amounts owing under the terms of the Lease. All past due installments for all charges for any services, good, or materials furnished shall bear interest at the rate of eighteen percent (18%) per annum or the highest lawful rate, whichever is less, from date due until paid; provided, however, in no event shall the rate of interest hereunder exceed the maximum non-usurious rate of interest (hereinafter called the “Maximum Rate”) permitted by the applicable laws of the State of Texas or the United States of America, and to Landlord at law or in equity under applicable law (including, without limitationthe extent that the Maximum Rate is determined by reference to the laws of the State of Texas, the remedies under Civil Code Section 1951.2 and/or 1951.4 Maximum Rate shall be the weekly ceiling (as defined and any successor statutes or similar laws)described in Chapter 303 of the Texas Finance Code, as amended) at the applicable time in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodeffect.

Appears in 1 contract

Sources: Lease Agreement (Bio-Path Holdings Inc)

Base Rent. Notwithstanding anything (i) The first month’s Base Rent shall be due and payable on delivery of an executed copy of this Lease to the contrary Landlord. Except as provided herein, Tenant shall pay to Landlord in the Leaseadvance, effective as of the New Term Commencement Datewithout 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. During the first year of the Term, Tenant shall pay Base Rent only on the Initial Premises. (ii) From and after the earlier of (A) the first anniversary of the Rent Commencement Date or (B) the date Tenant commences occupancy and use of the Additional Office Premises, Tenant shall pay Base Rent on the Additional Office Premises, at the same rate as Base Rent for the Initial Premises shall be payable by Tenant in accordance with and at the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first time. (18iii) through eighth (8th) months of the New Term (i.e., Commencing September 1, 2011 through April 30, 2012) 2005 (the “Abatement MonthsAdditional Laboratory Commencement Date) (such amount of abated ), Tenant shall commence paying Base Rent being hereinafter collectively referred to on the Additional Laboratory Premises as the “Abated Amount”)follows. During such Abatement Months, Tenant will still shall be responsible for making any improvements to the payment Additional Laboratory Premises. Commencing on the Additional Laboratory Commencement Date, Tenant shall begin to pay Base Rent at the rate of all other monetary obligations due under Shell Rent for the Amended Lease during such Abatement MonthsAdditional Laboratory Premises. Commencing on the earlier of (A) the date of substantial completion of the improvements to the Additional Laboratory Premises or (B) June 1, if any2006, Tenant shall pay Base Rent on the Additional Laboratory Premises at the rate of Improved Rent. “Shell Rent” shall mean $____ per rentable square foot per annum, on a triple net basis. “Improved Rent” shall mean $____ per rentable square foot per annum, on a triple net basis. Such Base Rent shall be adjusted annually as provided in Section 4 hereof, and shall further be adjusted for any portion of the Additional Tenant acknowledges that any default Improvement Allowance elected to be used by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 1 contract

Sources: Sublease (Atossa Genetics Inc)

Base Rent. Notwithstanding anything A. Tenant covenants and agrees to pay to Landlord during the contrary in Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the Lease, effective as full amount of the New Term Commencement Date, monthly installments of all Base Rent for the Premises shall be payable by Tenant in accordance with the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base and Additional Rent due during hereunder and the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such full amount of abated Base Rent being hereinafter collectively referred to all such other sums of money as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations shall become due under the Amended this Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 any charges for replacement of electric lamps and ballasts and any successor statutes other services, goods or similar lawsmaterials 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 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 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 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 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 balance or pursue any 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 construed to be a waiver of Landlord’s right to declare a default for any other late payment. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. If at any time during the Lease Term or any renewal or extension thereof a tax or excise on rents, or other tax however described, including a franchise tax, margin tax, business tax or any other tax, (except any federal or state income tax imposed upon Landlord) is levied or assessed against Landlord by any lawful taxing authority on account of Landlord’s interest in this Lease or the rents, revenues, receipts, or other charges reserved hereunder, as a substitute in whole or in part, or in addition to the general taxes described in this Section 5.A, or imposed in order to fund, in whole or in part, previously assessed taxes, Tenant agrees to pay to Landlord upon demand, and in addition to the rentals and other charges prescribed in this Lease, the amount of such tax or excise. In the event any such tax or excise is levied or assessed directly against Tenant, then Tenant defaults under shall be responsible for and shall pay same at such times and in such manner as the Amended Lease beyond taxing authority shall require. B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid. In addition, if Tenant fails to pay any applicable installment of Base Rent and Additional Rent or any other item of Rent when due and payable hereunder and such failure continues for more than five (5) Business Days after Tenant’s receipt of written notice thereof, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and cure periodpayable immediately by Tenant to Landlord.

Appears in 1 contract

Sources: Joint Venture Contribution and Formation Agreement (SEACOR Marine Holdings Inc.)

Base Rent. Notwithstanding anything (a) As used herein, subject to the contrary in annual increases as hereinafter provided, the Lease, effective as “Base Rent” for the Demised Properties for each month of the New Lease Term shall be One Hundred Four Thousand Five Hundred Eighty-Three Dollars and 33/100 (US$104,583.33) Tenant shall pay to Landlord Base Rent, in advance, without demand therefor, on or before the first day of each and every calendar month during the Lease Term (each a “Payment Date”) and if the Commencement DateDate is not the first day of a calendar month, Tenant shall pay to Landlord pro-rated Base Rent on the Commencement Date for the partial calendar month in which the Commencement Date occurs. (b) Subject to the terms of this Section, (i) on each Adjustment Date (as defined below) throughout the Original Lease Term, the monthly installments Base Rent shall increase by the Base Rent Escalation (as defined below), and such increased Base Rent shall apply for the ensuing twelve (12) month period; (ii) for each of the First Option Period (other than a PE First Option Period), the Second Option Period (other than a PE Second Option Period), the Third Option Period (other than a PE Third Option Period) and the Fourth Option Period (other than a PE Fourth Option Period), if such options are timely exercised as provided in Article II, (A) on the Adjustment Date of the first Lease Year of each of the First Option Period, the Second Option Period, the Third Option Period and the Fourth Option Period, the monthly Base Rent shall be increased to Market Rent (as defined below) and (B) on the Adjustment Date of the second, third, fourth and fifth Lease Year of each of the First Option Period, the Second Option Period, the Third Option Period and the Fourth Option Period, the monthly Base Rent shall increase by the Base Escalation, and such increased Base Rent shall apply for the ensuing twelve (12) month period; and (iii) for each of the First PE Option Period, the Second PE Option Period, the Third PE Option Period and the Fourth PE Option Period, if such options are timely exercised as provided in Article II, (A) on the Adjustment Date of the first Lease Year of each of the First PE Option Period, Second PE Option Period, the Third PE Option Period and the Fourth PE Option Period, the monthly Base Rent for the Premises applicable PE Option Extension Properties (as defined below) shall be payable increased to Market Rent and (B) on the Adjustment Date of the second, third, fourth and fifth Lease Year of each of the First PE Option Period, the Second PE Option Period, the Third PE Option Period and the Fourth PE Option Period, the monthly Base Rent shall increase by Tenant the Base Rent Escalation, and such increased Base Rent shall apply for the ensuing twelve (12) month period. Notwithstanding anything herein to the contrary, in accordance with no event shall the increased Base Rent be less than the Base Rent described in this Subsection (b) for the prior applicable Lease Year, provided however in the case of the increased Base Rent for the first Lease Year of any PE Option Period, such increased Base Rent shall not be less than the product of (1) the Base Rent in effect for the prior Lease Year, multiplied by (2) a fraction, the numerator of which is the aggregate appraised fair market value of the applicable PE Option Extension Properties, and the denominator of which is the aggregate appraised fair market value of all the Demised Properties (prior to the commencement of the applicable PE Option Period). (c) The following terms shall have the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.meanings:

Appears in 1 contract

Sources: Master Land and Building Lease (Ryan's Restaurant Leasing Company, LLC)

Base Rent. Tenant shall pay to Landlord base rent for the Premises ("Base Rent") as specified on the Basic Lease Term Sheet during the Primary Lease Term. All installments of Base Rent shall be payable in advance, on the first day of each calendar month during the Lease Term, except that the first monthly installment of Base Rent shall be due and payable upon execution of this Lease by Tenant. All Base Rent and Additional Rent (as hereinafter defined), (collectively, "Rent") shall be paid without notice, demand, deduction, offset, or abatement (except as otherwise expressly provided in this Lease), at Landlord's address or at such other place as Landlord from time-to-time designates in writing. In no event will the total Rent to be paid by Tenant during any Lease Year ever be less than the Base Rent plus Tenant's Pro Rata Share of Operating Expenses under Paragraph 5. Notwithstanding anything to the contrary in contrary, Tenant may occupy the Lease, effective as of the New Term Commencement Date, monthly installments Premises and defer payment of Base Rent and Tenant's Pro Rata Share of Operating Expenses for a period commencing on the Premises shall Commencement Date and terminating May 31, 1999 (the "Deferred Rent Period"). Rents payable hereunder are allocable to, and will be payable accrued by the parties during, their fiscal periods in which the same is actually paid. No portion of the Base Rent paid by Tenant in accordance with during periods after the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all expiration of the monthly installments of Base Deferred Rent due during Period will be allocated to such Deferred Rent Period, nor is such Rent intended to be allocable to the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Deferred Rent being hereinafter collectively referred to as the “Abated Amount”)Period. During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 If at any time during the New Term be in default after having been given notice and opportunity to cureTerm, thenan Event of Default occurs, Tenant owes Landlord, in addition to all of Landlord’s other rights and remediesamounts, the total unamortized sum of such Abated Amount and the Forgiven Base Rent and Tenant's Pro Rata Share of Operating Expenses deferred pursuant to this Paragraph during the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; providedDeferred Rent Period. Tenant, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended has no obligation to limit any other remedies available pay the deferred amounts if no Event of Default occurs prior to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in expiration of the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodTerm.

Appears in 1 contract

Sources: Office Lease (Esoft Inc)

Base Rent. Notwithstanding anything (a) Subject to the contrary in provisions of this Paragraph 3.1, Tenant agrees to pay during the Lease, effective Term as of the New Term Commencement Date, monthly installments of Base Rent for the Premises the sums specified in the Basic Lease Information (as increased from time to time as provided in the Basic Lease Information or as may otherwise be provided in this Lease) ("BASE RENT"). (b) Base Rent shall increase as set forth in the Basic Lease Information or as may otherwise be provided in this Lease. (c) Except as expressly provided to the contrary herein, Base Rent shall be payable in equal consecutive monthly installments, in advance, without deduction or offset, commencing on the Term Commencement Date and continuing on the first day of each calendar month thereafter. However, the first full monthly installment of Base Rent shall be payable upon Tenant's execution of this Lease. If the Term Commencement Date is a day other than the first day of a calendar month, then the Rent for the Partial Lease Month (the "PARTIAL LEASE MONTH RENT") shall be prorated based on the actual number of days in the applicable month. The Partial Lease Month Rent shall be payable by Tenant in accordance with on the following schedule: Period of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all first day of the monthly installments calendar month next succeeding the Term Commencement Date. Base Rent, all forms of Base Rent due during the first additional rent payable hereunder by Tenant and all other amounts, fees, payments or charges payable hereunder by Tenant (18collectively, "ADDITIONAL RENT") through eighth shall (8thi) months each constitute rent payable hereunder (and shall sometimes collectively be referred to herein as "Rent"), (ii) be payable to Landlord in lawful money of the New Term United States when due without any prior demand therefor, except as may be expressly provided to the contrary herein, and (i.e., September 1, 2011 through April 30, 2012iii) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), Landlord's Remittance Address set forth in the event Basic Lease Information or to such other person or to such other place as Landlord may from time to time designate in writing to Tenant. Any Rent or other amounts payable to Landlord by Tenant defaults under hereunder for any fractional month shall be prorated based on the Amended Lease beyond any actual number of days in the applicable notice and cure periodmonth.

Appears in 1 contract

Sources: Office Lease (L90 Inc)

Base Rent. Notwithstanding anything to Base Rent shall be payable monthly in advance without demand and without set off as follows: (a) Commencing with the contrary in the Lease, effective as fifth day of the New Term Commencement Datefirst calendar month after a Rent Trigger Event, and on the fifth day of each and every calendar month thereafter during the Term, Master Lessee will pay Master Lessor Base Rent in monthly installments of Base Rent $62,424.00 ($749,088.00 annually), without demand. The rental payment for any fractional calendar month at the Premises end of the Term shall be payable by Tenant prorated. (b) To the extent that Master Lessor actually receives any “Minimum Annual Rent” under an the Starplex Lease or any Future Lease during the Term, then such Master Lessee shall receive an equivalent credit (less any attorneys fees and expenses incurred in accordance with the following schedule: Period collection of New Term Monthly Installments same if not reimbursed or paid to Master Lessor and any costs of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is retenanting and reletting, if applicable) against, but not in default under excess of, the Amended Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay all of the monthly installments of Base Rent due during under this Lease; however in no event shall Master Lessor ever be obligated to pay to the first Master Lessee any such rent (18whether termed Minimum Annual Rent, Base Rent, Additional Rent or otherwise) through eighth under the Starplex Lease or any Future Lease. Neither Master Lessor, Master Lessor’s Lender nor any Refinance Lender who succeeds to Master Lessor’s interest in this Lease shall be under any obligation to obtain or collect any such rent (8thwhether termed Minimum Annual Rent , Base Rent, Additional Rent or otherwise) months under the Starplex Lease or any Future Lease nor to re-let the Premises upon the expiration or termination of the New Term Existing Lease or any Future Lease. (i.e., September 1, 2011 through April 30, 2012c) (the i) Abatement Months”) (Rent Trigger Event” means at such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Monthstime, if any. Tenant acknowledges , that any default by Tenant under the Amended Lease will cause Landlord to incur costs not contemplated hereunder, annual gross sales from the exact amount of such costs being extremely difficult and impracticable to ascertain. Therefore, should Tenant at any time during the New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (Starplex Premises are less than $2,800,000.00 including, without limitation, due to any termination of the remedies under Civil Code Section 1951.2 and/or 1951.4 Starplex Lease or such tenant’s right to occupy the Starplex Premises. Upon any assertion made in good faith by Master Lessor or its successors or assigns, including without limitation, Master Lessor’s Lender, such assertion shall be presumed valid unless disproved by Master Lessee and any successor statutes or similar laws), in Master Lessee shall have the event Tenant defaults under burden of proof to disproved that annual gross sales from the Amended Lease beyond any applicable notice and cure periodStarplex Premises are not less than $2,800,000.00.

Appears in 1 contract

Sources: Master Lease Agreement (TNP Strategic Retail Trust, Inc.)

Base Rent. Notwithstanding anything to (a) The annual Base Rent during the contrary Lease Term of this Lease shall as set forth in the LeaseLease Agreement Summary, effective and during any Renewal Lease Term shall be as of the New Term Commencement Datecalculated pursuant to Paragraph 35 below, monthly installments of Base Rent for the Premises and shall be payable by Tenant in accordance with equal monthly installments on or before the following schedule: Period first day of New Term Monthly Installments each month, in advance. Tenant shall pay the first monthly installment, or portion thereof for an occupancy of less than one month, on the Commencement Date. Proration of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided for an occupancy of less than one month shall be on the basis of a month of thirty days. (b) All Base rent due herein, and all Additional Rent (as defined below), shall be paid in U.S. funds by check drawn on a U.S. bank at the office of Landlord or at such other place designated by Landlord from time to time, without any prior demand and without any deduction or set-off whatsoever promptly on the dates due. If any check(s) drawn by Tenant is are not honored when presented on more than two (2) occasions in default under the Amended Leaseany period of twelve (12) consecutive months, Landlord hereby agrees may, by written notice to ▇▇▇▇▇ Tenant’s obligation Tenant and in addition to pay any other remedy available to Landlord as provided herein or at law, require that all of the monthly installments future payments of Base Rent due during the first and Additional Rent be paid by electronic funds transfer or by bank or certified check. (18c) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible for the payment of all All other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and sums payable by Tenant to Landlord; providedLandlord under this lease, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar lawsbut not limited to Operating Expenses (as defined below), in repairs, maintenance, real estate taxes, insurance, roof maintenance and management fees (if any), shall be treated as additional rent (“Additional Rent” and together with Base Rent, “Rent”) and Landlord shall have the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodsame remedies for non-payment as for non-payment of Base Rent.

Appears in 1 contract

Sources: Lease Agreement (PharMEDium Healthcare Holdings, Inc.)

Base Rent. Notwithstanding anything A. Sublessee shall pay to Sublessor, Rent (as hereinafter defined) due, as calculated by Sublessee, in lawful money of the United States, at the address set forth above or at such other address as Sublessor may by notice designate, rent (the "Rent") as set forth on Exhibit C attached hereto and made a part hereof which as of the Commencement Date is all of the base Rent payable under the Lease with respect to the contrary Leased Premises. To the extent that Sublessor disagrees with the amount of Rent paid by Sublessee, it shall notify Sublessee of the same and the parties agree to cooperate to resolve any such dispute in accordance with the terms and provisions of Section 15 of the Assignment. Rent shall be payable in equal monthly installments in advance, commencing on the Commencement Date and thereafter on the first day of each month during the term of this Sublease and during any period which Sublessee holds over in the Demised Premises or any part thereof, without counterclaim, setoff or deduction whatsoever. To the extent the Commencement Date is a date other than the first day of a month and Sublessee has already paid rent due under the Lease with respect to the month in which such Commencement Date occurs, Sublessee's obligation to pay Rent hereunder shall begin on the Commencement Date, but Sublessee shall receive a credit for the Rent paid to the Landlord for the month in which the Commencement Date occurs. B. In addition to the Rent, Sublessee shall pay to Sublessor, as additional rent hereunder, all additional rent payable by Sublessor under the Lease attributable to the Demised Premises for the period from the Commencement Date (except as otherwise provided herein) through the Expiration Date as follows: (i) commencing on the Commencement Date, all Real Estate Taxes payable by Sublessor under the Lease attributable to the Demised Premises; (ii) commencing on the Commencement Date, all Operating Expenses payable by Sublessor under the Lease attributable to the Demised Premises; (iii) all other sums of money attributable to the Demised Premises as shall be payable by Sublessor to Landlord under the Lease, effective as it being the intent of the New Term Commencement Dateparties hereto to provide a direct pass-through to Sublessee of all costs, monthly installments expenses and payments payable by Sublessor under the Lease attributable to the Demised Premises, provided, that if such other sums of Base Rent for money are not specifically allocable to the Demised Premises then such sums shall be shared by Sublessor and Sublessee on a pro rata basis (which, as appropriate, will be based on relative square footage leased by each party, and otherwise on an equitable basis) Real Estate Taxes and Operating Expenses attributable to the Demised Premises shall be payable in the same manner as provided in Article 11 of the Lease and shall be based on Landlord's statements, including estimates, rendered to Sublessor with respect to such items, which statements shall be made available by Tenant Sublessor to Sublessee promptly after receipt thereof from Landlord. To the extent that any amounts paid by Sublessee on account of any of such items are based on estimates provided by Landlord and exceed the amount actually due and payable by Sublessee hereunder, such overpayment shall, in accordance with the following schedule: Period procedure by which overpayment of New Term Monthly Installments of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant such an item is not in default treated under the Amended Lease, Landlord hereby agrees be either refunded to ▇▇▇▇▇ Tenant’s obligation to pay all of Sublessee or credited against the monthly installments of Base Rent amounts next coming due during the first (18) through eighth (8th) months of the New Term (i.e., September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated Base Rent being hereinafter collectively referred to as the “Abated Amount”). During such Abatement Months, Tenant will still be responsible from Sublessee for the payment of all other monetary obligations due under applicable item pursuant to this Section 4B promptly after Sublessor has received the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to refund or credit from Landlord; provided, however, Tenant acknowledges that if such overpayment shall have been credited to Sublessee and agrees is not fully reimbursed by such credit prior to the expiration of the term of this Sublease, then, promptly following the expiration or earlier termination of the term of this Sublease, so long as Sublessor is receiving a corresponding credit from Landlord, Sublessor shall reimburse Sublessee for the remaining balance of such overpayment less any amounts Sublessee may owe to Sublessor upon the expiration of the term of this Sublease. To the extent that nothing any estimated amounts so paid by Sublessee are less than the amount actually due and payable hereunder by Sublessee, Sublessee shall pay the difference to Sublessor within ten (10) days after notice thereof. If after Sublessee has made any payments hereunder on account of Real Estate Taxes, Sublessor shall be entitled under the Lease to a net refund or credit with respect to such Real Estate Taxes, Sublessee shall be entitled hereunder to a proportionate share of such net refund or credit to the extent Sublessor receives such refund or credit from Landlord. If any refund or credit results from an audit, challenge or other proceeding instituted by Sublessor, Sublessor shall be entitled to first deduct from any such refund or credit Sublessor's actual expenses incurred in connection with obtaining such refund or credit and Sublessee shall be entitled to its proportionate share of the net refund or credit within ten (10) days after receipt by Sublessor. Sublessee's payments under this Section 2 is intended 4B for any partial lease year shall be prorated on a per diem basis. If Sublessee disputes payments due under this paragraph 4B relating to limit Operating Expenses, Real Estate Taxes or other additional rent items relating to the Demised Premises, Sublessor, at Sublessee's cost and expense (unless such dispute relates to a period of time or a portion of the Demised Premises affecting both Sublessor and Sublessee, in which case, the parties shall share the costs and expenses proportionately) shall in good faith dispute such items in accordance with the terms and provisions of the Lease and Sublessee shall indemnify Sublessor from liability, cost or expense arising from or relating to such dispute. Sublessee shall have the right to have a representative present at all meetings and discussions with the Landlord which relate to any dispute regarding such Operating Expenses, Taxes or other remedies available additional rent items. The provisions of this Section 4B shall survive the Expiration Date or sooner termination of this Sublease. C. As to Landlord at law or in equity any additional charges under applicable law (includingthe Lease which are attributable to the Demised Premises, such as, for example and without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults charges under the Amended Lease beyond for services furnished pursuant to the Lease or for repair of damage to the Demised Premises, Sublessee shall pay to Sublessor, as additional rent under this Sublease, within ten (10) days after receipt by Sublessee of the relevant statement, an amount equal to all such charges. Sublessor shall provide Sublessee with copies of statements received from Landlord evidencing such additional charges. D. If Sublessee shall fail to pay any applicable installment of Rent or any additional rent when due and such failure shall continue for a period of five (5) Business Days after Sublessee has received notice of such failure, such unpaid amount shall bear interest at the Prime Rate, from the due date until paid. E. The term "rent" or "rents" as used in this Sublease shall mean the Rent and cure periodall additional rent payable under this Sublease.

Appears in 1 contract

Sources: Sublease (Credit Suisse First Boston Usa Inc)

Base Rent. Notwithstanding anything (a) Tenant, throughout the term of this Lease, covenants to pay Landlord, without demand therefor and without any setoff or deduction whatsoever, a net fixed annual rent (herein called the "BASE RENT") equal to the contrary "Base Rental Rate" (as such term is defined in SCHEDULE B attached hereto and by this reference made a part hereof) from time to time in effect during the term of this Lease, effective as of . (b) The Base Rent shall be payable commencing on the New Term Commencement Date, Date and thereafter in equal monthly installments in advance on the first day of each and every calendar month during the term of this Lease (the "DUE DATE"). If the Commencement Date is not the first day of a month, Base Rent for such partial month preceding the first full monthly payment of Base Rent for the Premises shall be payable by Tenant appropriately prorated and paid in accordance arrears simultaneously with the following schedule: Period first full monthly payment. (c) It is the purpose and intent of New Term Monthly Installments Landlord and Tenant that the Base Rent payable hereunder shall be absolutely net to Landlord so that this Lease shall yield, net to Landlord, the Base Rent specified herein in each year during the term of this Lease except to the extent expressly provided herein with respect to Cap Ex Improvements or as otherwise expressly provided herein. (d) Landlord may, at its option, direct Tenant by written notice, from time to time, to pay all or any portion of the Base Rent directly to any Fee Mortgagee (as hereinafter defined) and to pay the balance of the Base Rent, if any, to Landlord. All Base Rent shall be paid either by wire transfer of immediately available federal funds (in which case, such wire transfer must be made by 3:00 p.m., Eastern Standard Time, on the applicable Due Date) or in funds that are otherwise immediately available for use in an account designated by Landlord or any Fee Mortgagee, as the case may be, and Landlord may from time to time designate that all Base Rent be paid to such other account or at such other address as Landlord shall designate by written notice to Tenant. If Landlord shall direct Tenant to pay, or if Tenant shall have otherwise elected to pay, Base Rent by wire transfer, then Tenant shall not be in default of Tenant's obligation to pay Base Rent, nor shall any interest (as provided for herein) be imposed, if and for so long as Tenant shall timely comply with Landlord's wire instructions in connection with such payments. Accordingly, if Tenant shall have timely complied with Landlord's instructions pertaining to a wire transfer, but the funds shall thereafter have been misdirected or not accounted for properly by the recipient bank designated by Landlord, then the same shall not relieve Tenant's obligation to make the payment so wired, but shall toll the due date for such payment until the wired funds shall have been located. (e) If any installment of Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided Tenant is not in default under paid within five (5) days after the Amended LeaseDue Date therefor, Tenant shall pay Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation interest on such overdue payment at the Default Rate (as hereinafter defined), accruing from the day following the Due Date of such payment until the same is paid; PROVIDED, HOWEVER, that if Tenant fails to pay all of the monthly installments any installment of Base Rent due within such 5-day period two (2) times during any 12-month period during the first (18) through eighth (8th) months of the New Term (i.e.term hereof, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated then for any future Base Rent being hereinafter collectively referred to as payments during the “Abated Amount”). During such Abatement Monthsterm of this Lease, Tenant will still be responsible for shall pay interest at the payment Default Rate if any installment of all other monetary obligations due under Base Rent is not paid on or prior to the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure periodDue Date.

Appears in 1 contract

Sources: Lease (Sothebys Holdings Inc)

Base Rent. Notwithstanding anything to Beginning on the contrary Lease Commencement Date, Tenant shall pay Base Rent in the Leaseamount set forth above. The approximation of square footage for the Premises set forth on the first page of this Lease shall in no way affect the Base Rent specified on page one (1) above should any variance be found to exist between the approximation and the actual square footage. The first month's Base Rent, effective the Security Deposit, and the first monthly installment of estimated Operating Expenses (as of hereinafter defined) shall be due and payable on the New Term date hereof and Landlord's receipt thereof shall be confirmed by Landlord in the Lease Commencement DateAgreement. Such amounts shall not be deemed to have been paid by Tenant unless and until Landlord's receipt thereof is so confirmed. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent on or before the first day of each and every calendar month succeeding the Lease Commencement Date. Payments of Base Rent for any fractional calendar month, including the Premises month in which the Lease Commencement Date shall occur, shall be prorated based upon the number of days in each such partial month. 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 Tenant written notice delivered in accordance with the following schedule: Period herewith. The obligation of New Term Monthly Installments of Tenant to pay Base Rent 9/1/2011 — 8/31/2012 $ 46,480.65 * 9/1/2012 — 8/31/2013 $ 47,865.18 9/1/2013 — 8/31/2014 $ 49,249.71 9/1/2014 — 8/31/2015 $ 50,832.03 9/1/2015 — 1/31/2017 $ 52,414.35 * Provided and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant is not in default under the Amended Leaseshall have no right at any time to abate, Landlord hereby agrees to reduce, or set-off any rent due hereunder e▇▇▇▇▇ 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 five (5) days, Tenant shall pay to Landlord on demand a late charge equal to five percent (5%) of such delinquent sum. Notwithstanding the foregoing, Landlord agrees to waive imposition of the above-described late charge on up to one (1) occasion in any twelve (12) month period, provided Tenant tenders the overdue payment to Landlord within five (5) business days after Tenant’s obligation receipt of written notice from Landlord stating that the payment was not received when due. The provision for such late charge shall be in addition to pay all of Landlord's other rights and remedies hereunder or at law and shall not be construed as a penalty. Notwithstanding anything in this Section 4 to the contrary, Landlord agrees to abate the monthly installments of Base Rent (but n▇▇ ▇▇y of the additional rent) due during for the first thirteen (18) through eighth (8th13) months of the New Term (i.e.Lease Term, September 1, 2011 through April 30, 2012) (the “Abatement Months”) (such amount of abated for a total Base Rent being hereinafter collectively referred to as the “Abated Amount”abatement of One Million Seven Hundred Sixty Four Thousand One Hundred Sixty One and 80/100 Dollars ($1,764,161.80). During such Abatement Months, Tenant will still be responsible for the payment of all other monetary obligations due under the Amended Lease during such Abatement Months, if any. Tenant acknowledges that any default by Tenant under the Amended 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 New Term be in default after having been given notice and opportunity to cure, then, in addition to all of Landlord’s other rights and remedies, the total unamortized sum of such Abated Amount and the Forgiven Rent and the Abated Parking Charges (amortized on a straight line basis over the New Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord; provided, however, Tenant acknowledges and agrees that nothing in this Section 2 is intended to limit any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the remedies under Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws), in the event Tenant defaults under the Amended Lease beyond any applicable notice and cure period.

Appears in 1 contract

Sources: Lease Agreement (Systemax Inc)