Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request that are not included in Basic Costs), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (orhereinafter may be collectively called “Rent.” In addition, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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 pursuant to this first sentence of this Section 3(a) hereunder shall be applied first to the first full calendar month following the expiration of the Subsequent Abatement Periodearliest accrued and unpaid Rent then outstanding. The obligation of Tenant 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 sums item of Rent when due and payable hereunder, a Late Charge equal to Landlord five percent (5%) of such unpaid amount will be due and the obligations of Landlord under this Lease are independent obligations. payable immediately by Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Landlord.
C. The Additional Rent (as defined in Section 5) due payable hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses adjusted from time-to-time in accordance with the provisions of Exhibit C attached hereto and incorporated herein for all other amounts payable under the Lease during the Subsequent Abatement Periodpurposes.
Appears in 1 contract
Sources: Office Lease Agreement (VirtualArmour International Inc.)
Base Rent. 3.1 Commencing on June 1, 1998 (the "Rent Commencement Date") and continuing throughout the remainder of the Lease Term, Tenant shall deliver pay to LandlordLandlord as annual base rent for the Premises, concurrent without set off, deduction or demand, an amount equal to the 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 T▇▇▇▇▇’s delivery of an executed copy the signing of this Lease Lease, Tenant shall pay to LandlordLandlord the sum of Fifty Thousand Nine Hundred Ninety-Nine Dollars ($50,999.00), which sum shall be credited by Landlord toward the Base Rent monthly installment of base rent due for the first full calendar month in which falling within the day immediately following Lease Term. If the expiration of the Subsequent Abatement Period occurs (or, if such Lease Term begins on a date does not occur other than on the first day of a calendar month, Base Rent for the first full calendar month following the rent from such date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before until the first day of each calendar the following month shall be prorated on a per diem basis at the base rate payable during the Term hereof after first Lease Year, and such prorated rent shall be payable in advance on the expiration Lease Commencement Date.
3.2 Commencing on the first (1st) day of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multisecond (2nd) Lease Year and on the first (1st) day of each and every Lease Year thereafter during the Lease Term, the annual base rent shall be increased by two and one-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, half percent (2.5%) of the amount of annual base rent payable for the immediately preceding Lease Year.
3.3 All rent shall be paid to Landlord in lawful currency legal tender of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as at the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay which notices to Landlord the prorated Base Rent for are to be given or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered other party or to such other address as Landlord may designate from time to time by Tenant pursuant written notice to this first sentence of this Section 3(a) Tenant. If Landlord shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇accept rent after it shall become due and payable, reducesuch acceptance shall not excuse a delay upon subsequent occasions, or set-off constitute or be construed as a waiver of 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodLandlord's rights hereunder.
Appears in 1 contract
Sources: Lease Agreement (Cta Incorporated)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy pay Base Rent in the amount set forth on Page 1 of this Lease to LandlordLease. The first month’s Base Rent, the Base Rent Security Deposit, and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur and payable on the first day of a calendar monthdate hereof, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). and Tenant shall promises to 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 succeeding the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Commencement Date. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for hereunder (or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant other party as Landlord may from time to this first sentence of this Section 3(atime specify in writing) shall be applied made by check or by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern Time at the Rent Payment Address as provided above or such other place, within the continental United States, as Landlord may from time to the first full calendar month following the expiration of the Subsequent Abatement Periodtime designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) rent due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as If Tenant is not then delinquent in Default under this Leaseany monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be required construed as a penalty. Notwithstanding the foregoing, the late fee referenced above shall not be charged with respect to pay Base Rent for the first occurrence (but not any subsequent occurrence) during any 12-month period commencing on the Rent Commencement Date through the date that is 365 Tenant fails to make payment when due, until five days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration Landlord delivers written notice of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required such delinquency to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodTenant.
Appears in 1 contract
Sources: Lease Agreement (Inogen Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, For the period commencing on the Base Rent due for 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 calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day termination of a calendar month, Leased Property. Base Rent for each Fiscal Year shall be payable in advance in twelve (12) equal installments, on the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first ninth (9th) day of each calendar month during of the Term hereof after (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 shall be paid for the period of the ninth (9th) of each month (or, if applicable, the Commencement Date) through the eighth (8th) of the next month (or, if applicable, the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Term) (each, a “Rental Period”), provided that the first and last payments of Base Rent shall be prorated as to any partial Rental Period, based on the number of days within the Term during such Rental Period and the number of days in lawful currency such Rental Period. Tenant hereby agrees to make any reasonable changes with respect to the definitions of “Rent Payment Date” or “Rental Period,” including, without limitation, changing the Rent Payment Date and Rental Period, as may be requested in connection with any Landlord’s Debt. Notwithstanding the foregoing, Base Rent in respect of the United States 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 AmericaBase Rent shall be payable on, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wireJuly 9, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant 2007 (the “EFT Payment InstructionsBase Rent Commencement Date”). All EFT payments made by Tenant pursuant to this Section 3(a, which payment shall include (i) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement First Rental Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums (ii) Base Rent in respect of the Rental Period beginning July 9, 2007 and ending August 8, 2007. Base Rent shall be reduced by the applicable Base Rent Reduction Amount applicable to Landlord and the obligations of Landlord under any Leased Property with respect to which this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (is terminated on the applicable Property Removal Date as defined provided in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period1.8.
Appears in 1 contract
Sources: Master Lease Agreement (Cheeseburger-Ohio, Limited Partnership)
Base Rent. Tenant shall deliver pay, without prior notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, 's agent at the Base Rent due for the calendar month in which the day immediately following the expiration management office of the Subsequent Abatement Period occurs (Project, or, if at Landlord's option, at such date does not occur on other place as Landlord may from time to time designate in writing, by a check for currency which, at the first day time of a calendar monthpayment, is legal tender for private or public debts in the United States of America, base rent ("Base Rent for the first full calendar month following the date Rent") as set forth in which the day immediately following the expiration Section 4 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, payable in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 4 of Base Rent the Summary in advance on or before the first day of each and every calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodLease Term, in lawful currency of the United States of Americawithout any setoff or deduction whatsoever, except to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be extent expressly provided in this Lease. Notwithstanding anything to In accordance with Section 4 of the contrary contained hereinSummary, so long as Tenant is not then any increases in Default under this LeaseBase Rent shall occur on the first day of the applicable Lease Month. The parties acknowledge, however, that Tenant shall not be required to pay Base Rent for each "calendar month" of the Lease Term (or a prorated portion of a "calendar month", as applicable), even though the first "Lease Month" may pertain to a period commencing longer than one (1) calendar month. The Base Rent for the first two (2) full calendar months of the Lease Term shall be paid at the time of Tenant's execution of this Lease. If any payment of 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 payments or adjustments required to be made under the TCCs of this Lease that require proration on a time basis shall be prorated on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodsame basis.
Appears in 1 contract
Sources: Office Lease (DermTech, Inc.)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, (a) The annual base rent (the “Base Rent due Rent”) for the calendar month Premises payable by Tenant is set forth in which the day immediately following the expiration of the Subsequent Abatement Period occurs Exhibit K.
(or, if such date does not occur on the first day of a calendar month, b) Base Rent for the first full calendar month following the date Premises shall be payable by Tenant in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, twelve (12) equal monthly installments of Base Rent in advance on or before the first day of each calendar month during the Term hereof commencing on the applicable Rent Commencement Date (prorated in the case of the first installment if the Rent Commencement Date is not the first day of the month) and on the first day of each calendar month thereafter. Upon the execution of this Lease, Tenant shall deliver to Landlord a Guaranty executed by MF Global Limited, an entity whose shares are publicly traded on the New York Stock Exchange in the form annexed hereto as Exhibit J.
(c) Notwithstanding anything to the contrary provided elsewhere in this Lease, but except as otherwise provided in this Subsection (c), and subject to the penultimate sentence of Section 1.03, no Base Rent or Additional Rent shall be payable with respect to the period beginning on the First Portion of the 12th Floor Space Commencement Date and ending on the day preceding the 12 th Floor Space Rent Commencement Date (as herein defined). Notwithstanding the foregoing, Tenant shall pay for electricity furnished to the Premises from and after the expiration First Portion of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ 12th Floor Space Commencement Date, the 9th Floor Space Commencement Date and the 11th Floor Space Commencement Date, respectively in accordance with the terms of Article 5 hereof. The 9th Floor Space Rent Commencement Date shall mean the 9th Floor Space Commencement Date; the 11th Floor Space Rent Commencement Date shall mean the 11th Floor Space Commencement Date; and the 12th Floor Space Rent Commencement Date (with respect to both the First Portion of the 12th Floor Space and the Second Portion of the 12th Floor Space) shall mean the date which is five (5) consecutive calendar months following the Second Portion of the 12th Floor Space Commencement Date. The 9th Floor Space Rent Commencement Date, the 11th Floor Space Rent Commencement Date and the 12th Floor Space Rent Commencement Date shall be referred to herein individually as a “Rent Commencement Date”. Notwithstanding the foregoing, in the event the ▇▇▇▇▇▇▇ Lease terminates prior to September 30, 2010, Tenant will pay rent and additional rent (on account of operating expenses and real estate taxes) to Landlord for the 9th Floor Space in the amount as would be payable pursuant to that certain sublease dated July 18, 2002, between ▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduceas Sublandlord, or set-off any Rent (and Man Group USA, Inc., as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to Subtenant, and the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the 9th Floor Space Rent Commencement Date through will not occur until October 1, 2010; in the date event the Cornerstone Lease terminates prior to July 31, 2008, Tenant will pay rent and additional rent (on account of operating expenses and real estate taxes) to Landlord for the 11th Floor Space in the amount as would be payable pursuant to that is 365 days after certain license agreement dated June 18, 2004, between Cornerstone, as Licensor, and Man Group USA Inc., as Licensee, and the 11th Floor Space Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubtwill not occur until August 1, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period2008.
Appears in 1 contract
Sources: Lease (MF Global Ltd.)
Base Rent. Tenant shall deliver agrees to pay Landlord a “Base Rent” in accordance with the terms and provisions of Exhibit “C” annexed hereto as part of the Lease for each and every calendar month of the Term of this Lease, without any offset or deduction whatsoever in lawful (legal tender for public or private debts) money of the United States of America, at the management office of the Building or elsewhere as designated from time to time by Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy written notice to Tenant. Landlord upon execution of this Lease to Landlordby Landlord and Tenant, the Base Rent due for the calendar month in which the day immediately following the expiration hereby acknowledges payment by Tenant of the Subsequent Abatement Period occurs sum of Six Thousand Two Hundred Forty Seven and 15/100 DOLLARS (or, if such date does not occur on the first day $6.247.15) representing payment of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of this Lease.8 The balance of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord total Base Rent is payable in advance, without demand, abatement, deduction or set-off, equal monthly installments of Base Rent as specified above, on or before the first day of each calendar month during hereafter, the first of which shall be due and payable on the first of March, 1996. If the Term hereof after of this Lease commences on any day of a month excepting the expiration first day, Tenant shall pay Landlord Base Rent as provided for herein for such commencement month on a prorata basis (such proration to be based on the actual number of days in the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodcommencement month) and the first month’s rent paid by Tenant, in lawful currency if any, upon execution of the United States of America, this Lease shall apply and be credited to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)next full month’s Base Rent due hereunder. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar partial month shall of occupancy at the end of the Term of this Lease will be prorated. Notwithstanding anything , such proration to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month be based on the day immediately following actual number of days in the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodpartial month.
Appears in 1 contract
Base Rent. Tenant shall deliver pay Landlord the Annual Base Rent during the Term (the minimum rent due and payable under this Lease) without prior demand, offset or deduction at the rates set forth in the Lease Declarations (dates inclusive). Additionally, provided Tenant is not then in default of its obligations under this Lease, Tenant shall be entitled to the Rent Credit, as prescribed in the foregoing Lease Declarations. Notwithstanding the foregoing, if, prior to the four (4) year anniversary of the Commencement Date, this Lease is terminated by Landlord due to Tenant’s default(s) beyond any applicable notice and cure period prior to the Expiration Date (or upon the occurrence of any bankruptcy events as forth in Article 27 of this Lease) then, Tenant shall owe Landlord, concurrent with Tas additional rent, the then unamortized value (amortized on a straight-line monthly basis from the Rent Commencement Date through the natural Expiration Date) of the cost of Landlord’s Work, the monetary value of the free rent between the Commencement Date and Rent Commencement Date, Rent Credit applied to Tenant’s account, and commissions paid for ▇▇▇▇▇▇’s delivery of an executed copy Broker, and such payment obligation shall expressly survive the expiration or termination of this Lease to Landlord, the Lease. Annual Base Rent due for the calendar month shall be paid in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur monthly installments in advance on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 hereof, except that Tenant shall pay the expiration of first monthly installment thereof in advance on the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8execution hereof. Unless and until otherwise designated by Landlord in writing, all Annual Base Rent and additional rent payable under this Lease shall be paid to Landlord’s legal name as prescribed in the Lease Declarations, c/o Two Trees Management, ▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – , ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇.)▇▇ ▇▇▇▇▇. Payments Monthly installments of Annual Base Rent payable for any fractional calendar a partial month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs prorated on a day other than per diem basis based upon the first day number of a calendar days in the relevant month. All taxes, then charges, costs, expenses and sums payable by Tenant hereunder are deemed additional rent (whether or not expressly designated as such). Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Annual Base Rent and additional rent as provided in this Lease in lawful money of the United States, which shall be legal tender in payment of all debts and dues, public and private at the time of payment, at the office of Landlord or such other sums place as Landlord may designate, without any set-off or deduction whatsoever. Any delay or failure of Landlord or its agent to prepare and deliver any bill, statement or invoice shall not constitute a waiver of the right to collect any payment that may have become due under this Lease, including, without limitation, retroactive payments for any and all amounts unbilled. If no date shall be set forth herein for the payment of additional rent and same are not recurring monthly charges, then such sum shall be due and payable within thirty (30) days after the date upon which Landlord demands such payment. If any additional rent is not paid when due, Landlord shall have all the rights and remedies with respect to the collection of the same and the obligations enforcement of the Tenant’s obligation to pay the same as in this Lease provided, and such rights and remedies as are available at law, equity or otherwise, in the case of non-payment of Annual Base Rent. Although this Article is intended to facilitate the collection rights and remedies of Landlord under this Lease are independent obligations. Lease, it is not intended to alter the principal of reimbursable items payable by Tenant to Landlord, which reimbursable items shall have in no right at event be deemed “income” to Landlord under any time to a▇▇▇▇, reduceprovisions of relevant tax law, or set-off otherwise. If 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 herein, so long as check of Tenant is not then in Default under dishonored, all subsequent checks shall be either certified checks or a check drawn upon a New York City Bank that is a member of The Clearing House Payments Company L.L.C. (or its successor). For the purposes of this Lease, Tenant “additional rent” shall not be required to pay mean all sums of money, other than Annual Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). as shall become due and payable from Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable Landlord under the Lease during the Subsequent Abatement Periodor pursuant to this Lease.
Appears in 1 contract
Sources: Lease Agreement (BuzzFeed, Inc.)
Base Rent. Tenant shall deliver pay, without notice or demand, to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, Landlord at the Base Rent due for the calendar month address set forth in which the day immediately following the expiration Section 3 of the Subsequent Abatement Period occurs Summary, 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 (or, if such date does not occur on the first day of a calendar month, “Base Rent for the first full calendar month following the date Rent”) as set forth in which the day immediately following the expiration Section 8 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, payable in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 8 of Base Rent 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. Landlord agrees to provide ACH information to Tenant. Concurrently with Tenant’s execution of this Lease, Tenant shall deliver to Landlord an amount equal to $64,029.50, which amount represents the Base Rent payable by Tenant for the Premises for the first (1st) full month of the Lease Term. 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 the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)which such fractional month occurs. All EFT other payments or adjustments required to be made by Tenant pursuant to under the terms of this Section 3(a) must include Lease that require proration on a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month time basis shall be proratedprorated on the same basis. Notwithstanding anything to the contrary contained herein, if the expiration herein and provided that Tenant faithfully performs all of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period terms and the prepaid Base Rent delivered by Tenant pursuant to this first sentence conditions of this Section 3(a) shall be applied Lease, Landlord hereby agrees to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required ▇ Tenant’s obligation to pay (i) one hundred percent (100%) of Tenant’s monthly Base Rent for the period commencing on second (2nd), third (3rd), fourth (4th) and fifth (5th) full months of the initial Lease Term, and (ii) fifty percent (50%) of Tenant’s monthly Base Rent Commencement Date through for the date that is 365 days after sixth (6th), seventh (7th), eighth (8th) and ninth (9th) full months of the Rent Commencement Date initial Lease Term (collectively the “Subsequent Abatement PeriodAbated Rent”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubtDuring such abatement period, Tenant shall still be required to pay Operating Expenses and responsible for the payment of all of its other amounts payable monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease during that results in early termination pursuant to the Subsequent Abatement Periodprovisions 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 the recovery of the unamortized amount of the monthly Base Rent that was abated under the provisions of this Article 3.
Appears in 1 contract
Sources: Lease (Poseida Therapeutics, Inc.)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord, at Landlord's Address for Payment of Rent designated in the Basic Lease Information, or at such other address as Landlord may from time to time designate in writing to Tenant for the payment of Rent, the Base Rent, without notice, demand, offset or deduction (except as otherwise provided herein), 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 commencing on the Rent Commencement Date. Upon the execution of this Lease, Tenant shall pay to Landlord the Base Rent due for the first full calendar month during the Term after the expiration of Rent Commencement Date and any abatement period. If the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period Commencement Date occurs on a day date other than the first day of a calendar month or the Term ends on a date other than the last day of a month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month shall be prorated on the basis of a thirty (30) day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Periodmonth. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations[*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. Tenant shall have no right at any time to a▇▇▇▇, 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. 14 Notwithstanding anything to the contrary contained hereinherein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, so long as Landlord hereby agrees to aba▇▇ ▇▇nant's obligation to pay monthly Base Rent for the first (1st) full month of the initial Lease Term. During such abatement period, Tenant is not then in Default shall still be responsible for the payment of all of its other monetary obligations under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration including Tenant's Percentage Share of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable Real Estate Taxes. In the event of a default by Tenant under the terms of this Lease during that results in early termination pursuant to the Subsequent Abatement Periodprovisions of Section 16.3 of this Lease, then as a part of the recovery set forth in such Section 16.3 of this Lease, Landlord shall be entitled to the recovery of the monthly Base Rent that was abated under the provisions of this Section 4.1.
Appears in 1 contract
Sources: Office Lease (Allos Therapeutics)
Base Rent. Tenant (a) The first month’s Base Rent and Security Deposit shall deliver to Landlord, concurrent with T▇▇▇▇▇’s be due and payable on delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, equal monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodhereof, in lawful currency money of the United States of America, to at the physical address designated by Landlord office 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of Landlord for payment of Rent set forth above. If the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day Commencement Date is other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated difference between the first full calendar month’s Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant paid pursuant to this the first sentence of this Section 3(a) ), and the prorated Base Rent for the fractional month in which the Commencement Date occurs shall be applied by Landlord to the first full calendar month following after the expiration Commencement Date. Base Rent shall be increased during the Base Term as provided for in the schedule set forth on page 1 of this Lease. 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 Share of “Excess Operating Expenses” (as defined in Section 4), and (ii) any and all other amounts Tenant assumes or agrees to pay under the Subsequent Abatement Period. The obligation provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period. Tenant’s obligation to pay Base Rent and other sums Additional Rent hereunder are collectively referred to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (herein 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement PeriodRent”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant a) Subtenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Sublandlord base rental (“Base Rent”) for the Subleased Premises as follows: Base Rent shall be due and payable in equal monthly installments. Each such installment shall be due and payable in advance on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency term hereof. If the term of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs Sublease 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 month, then Tenant Base Rent for such month shall pay to Landlord the be prorated; prorated Base Rent for any such partial first month of the term hereof shall be paid on the day immediately date on which the term commences. Concurrently with its execution of this Sublease, Subtenant shall pay to Sublandlord the installment of Base Rent due for the first full calendar month within the term of this Sublease following the expiration of abatement periods described in Section 3(c) below that falls within the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a(1st) Sublease Year (i.e., $23,116.63), which amount shall be applied to the installment of Base Rent due for the first full calendar month within the term of this Sublease following the abatement periods described in Section 3(c).
(b) All Base Rent and additional rent shall be paid without any notice, setoff or deduction whatsoever, and shall be paid to Sublandlord at its address set forth in Section 15 below or at such other place as Sublandlord may designate by notice to Subtenant.
(c) Notwithstanding anything to the contrary set forth above, so long as Subtenant is not in default hereunder beyond any applicable notice and cure period, Base Rent payable by Subtenant to Sublandlord as provided above shall be abated with respect to (i) the first four (4) full calendar months following the Commencement Date, and (ii) one-half (1/2) of the fifth (5th) full calendar month following the expiration Commencement Date (i.e., the installment of Base Rent payable for that month shall be $11,558.31).
(d) Sublandlord and Subtenant stipulate that the rentable square footage of the Subsequent Abatement Period. The obligation Subleased Premises shall be 6,377 for all purposes of Tenant to pay Base Rent and other sums to Landlord and this Sublease and, notwithstanding any provision of the obligations of Landlord under this Prime Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 hereincontrary, so long as Tenant is not then in Default under this Lease, Tenant shall not be required subject to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodremeasurement.
Appears in 1 contract
Sources: Sublease (Capitalsource Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant a) Subtenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Sublandlord base rental (“Base Rent”) for the Subleased Premises as follows: Base Rent shall be due and payable in equal monthly installments. Except as provided in Section 3(c) below, each such installment shall be due and payable in advance on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency term hereof. If the term of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs Sublease 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 month, then Tenant Base Rent for such month shall pay to Landlord the be prorated; prorated Base Rent for any such partial first month of the term hereof shall be paid on the day immediately following date on which the expiration term commences. Concurrently with its execution of this Sublease, Subtenant shall pay to Sublandlord the Subsequent Abatement Period and the prepaid installment of Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to due for the first full calendar month within the term of this Sublease following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay abatement period described in Section 3(c) below, which sum is $60,825.00.
(b) All Base Rent and other sums additional rent shall be paid without any notice, setoff or deduction whatsoever, and shall be paid to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right Sublandlord at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined its address set forth in Section 515 below or at such other place as Sublandlord may designate by notice to Subtenant.
(c) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained hereinset forth above, so long as Tenant is not then in no Event of Default under this Leasehas occurred, Tenant shall not be required to pay Base Rent for payable by Subtenant to Sublandlord as provided above shall be abated with respect to the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date and expiring on January 31, 2015 (the “Subsequent Rent Abatement Period”). Tenant shall commence paying full Base Rent on .
(d) Sublandlord and Subtenant stipulate that the day immediately following the expiration rentable square footage of the Subsequent Abatement Period. For the avoidance of doubt, Tenant Subleased Premises shall be required 16,220 for all purposes of this Sublease and, notwithstanding any provision of the Prime Lease to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodcontrary, shall not be subject to remeasurement.
Appears in 1 contract
Sources: Sublease (Capitalsource Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, (a) Commencing upon the Base Rent due for the calendar month Commencement Date in which the day immediately following the expiration respect of all portions of the Subsequent Abatement Period occurs (orPremises except the Top Floors, if such date does not occur on and commencing upon the first day Top Floor Payment Commencement Date in respect of a calendar monththe Top Floors, and thereafter during the Term, Base Rent for the first full calendar month following the date will be payable in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent in advance on or before the first day of each month at the rate of one-twelfth (1/12) of the annual Base Rent specified in Article 1. Landlord will, on or after the first day of each calendar month during or the Term hereof after immediately preceding business day if the expiration first day of a month is not a business day, draw upon the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Letter of Credit each month for payment of monthly Base Rent then due. If Landlord notifies Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodthat Landlord does not intend or is unable to draw on the Letter of Credit, in lawful currency Tenant shall pay the Base Rent due to Landlord by wire transfer of the United States of Americaimmediately available funds, to Landlord’s account specified in writing to Tenant, without any prior notice or demand and without any deductions or setoff whatsoever, other than as expressly provided herein. If the physical address designated by Landlord Commencement Date 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 Top Floor Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period Commencement Date occurs on a day other than the first day of a calendar month, or the Termination Date occurs on a day other than the last day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial fractional month will be prorated on the day immediately following the expiration basis of the Subsequent Abatement Period actual number of days in such month. The Rentable Area of the Premises and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) Building shall be applied conclusively presumed to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent be as stated in Article 1, and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required subject to pay adjustment by either Landlord or Tenant during the Term, other than as described herein.
(b) Commencing on December 1, 2004 and every December 1 thereafter (each, an “Adjustment Date”), the Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodincreased as stated in Article 1.
Appears in 1 contract
Base Rent. (a) Tenant shall deliver pay to LandlordLandlord at the address set forth in Section 1(b), concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease or to Landlordsuch other person or at such other place as Landlord may from time to time designate, without previous demand therefor and without counterclaim, deduction or set-off (except as otherwise provided herein), the rent (“Base Rent”) set forth on the Rent Rider annexed hereto in lawful money of the United States, such Base Rent due for to be payable in monthly installments in advance on the calendar first day of each month in which during the day immediately following the expiration term of the Subsequent Abatement Period occurs (or, if such date does not occur on Lease. If the Rent Start Date shall be other than the first day of a calendar month, Tenant shall pay Landlord on the particular Rent Start Date the proportionate amount of Base Rent for the balance of such month. The first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments installment of Base Rent shall be paid by Tenant on execution of this Lease. In the event that Landlord shall be unable to satisfy the Approvals Requirement and Landlord or before Tenant shall terminate this Lease, then Landlord shall return to Tenant the first day installment of each calendar month during Base Rent.
(b) The Base Rent set forth on the Term hereof after Rent Rider and Extension Options Rider has been calculated upon the expiration assumption that the Premises has an aggregate floor area of precisely 106,000 square feet. Prior to the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Commencement Date, Landlord shall furnish to Tenant Laboratory 8▇▇ ▇▇▇a certification from B▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency Architect and Design of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address aggregate floor area of the Building (i.e.Premises and the Building. In the event that the aggregate floor area of the Premises is other than 106,000 square feet, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of the Base Rent for any fractional calendar month shall be proratedproportionately adjusted. Notwithstanding anything to the contrary contained herein, if the expiration The square foot area of the Subsequent Abatement Period occurs on a Premises and the Building shall be measured in accordance with BOMA 1996.
(c) The Rent Start Date shall be the later to occur of (i) April 1, 2005, or (ii) the date which shall be ninety (90) days following the date the Landlord shall satisfy the Approvals Requirement. If the Tenant delays the Landlord’s prosecution of the Approvals, then the Rent Start Date shall be accelerated by one day other than the first for each such day of a calendar monthdelay, then Tenant but in no event shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Start Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubtbe earlier than April 1, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period2005.
Appears in 1 contract
Sources: Lease Agreement (Party City Corp)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in lawful United States currency the Base Rent. All Base Rent shall be payable in equal monthly installments, in advance, without demandbeginning on the Commencement Date, abatement, deduction or set-off, monthly installments of Base Rent and continuing on or before the first day of each and every calendar month thereafter during the Term hereof after Lease Term. Should the expiration Commencement Date fall on a day other than the first day of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multimonth, then Tenant shall pay Rent for the fractional month commencing on the Commencement Date and ending on the last day of the month in which the Commencement Date occurs on a per diem basis (calculated on the basis of a thirty-Tenant Laboratory 8day month), payable upon occupancy of the Premises by Tenant. The Rent payment due under this Lease for any other fractional month shall likewise be calculated and paid on such a per diem basis. All Rent, Additional Rent, and other payments to Landlord under this Lease shall be paid to Landlord, without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at: Highwoods/Florida Holdings, L.P., ▇.▇. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇-▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, Attn: Bay Vista Gardens II or at such other place as Landlord shall designate in lawful currency of the United States of America, writing to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)Tenant. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant Tenant’s obligations to pay Base Rent and other sums to Landlord and the obligations of Landlord amounts due under this Lease are covenants independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in of the Landlord’s obligations under this Lease. Notwithstanding anything One month’s rent plus applicable sales tax in the amount of $14,043.75 is due and payable by Tenant to the contrary contained herein, so long as Tenant is not then in Default under Landlord upon Tenant’s execution of this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Service Center Building Lease (Digital Lightwave Inc)
Base Rent. Tenant shall deliver to Landlord(a) Commencing on the Phase I Rent Commencement Date, concurrent with T▇▇▇▇▇’s delivery monthly installments of an executed copy of this Lease to Landlord, the Base Rent due base rent for the calendar month Phase I Property in which the day immediately following the expiration of the Subsequent Abatement Period occurs amounts set forth on Schedule 1.09.2 attached hereto and incorporated herein by reference (or, if such date does not occur “Phase I Base Rent”) (together with all applicable sales taxes thereon) shall be payable in advance on the first (1st) day of a calendar each and every month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction set off or set-offdeduction.
(b) Commencing on the Phase II Rent Commencement Date, monthly installments of base rent for the Phase II Property in the amounts set forth on Schedule 1.09.2 attached hereto and incorporated herein by reference (“Phase II Base Rent”, and together with the Phase I Base Rent, the “Base Rent”) (together with all applicable sales taxes thereon) shall be payable in advance on the first (1st) day of each and every month, without demand, set off or deduction.
(c) Base Rent shall be subject to the same “late charge” assessed against any share of Aviation Annual Land Rent (as defined in Section 4.01 (A) of the Prime Lease) and interest on any amount delinquent more than 20 days shall accrue interest at the Default Rate until such delinquent payment is made. When rental payments are delivered by Tenant through the mails, Tenant shall mail such payments sufficiently in advance so that the Landlord will receive the payments on or before the first day of each the calendar month during (or on or before the Term hereof after due date in the expiration of event the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day due date is other than the first day of a calendar month, then Tenant ). If Landlord shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration any moneys, or incur any expenses in correction of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence any violation of this Section 3(a) shall be applied to the first full calendar month following the expiration any covenant or of the Subsequent Abatement Period. The any other obligation of Tenant either set forth or implied herein, the amounts so paid or incurred shall, at Landlord’s option and on notice to pay Base Tenant, be considered Additional Rent payable by Tenant and other sums may be collected or enforced as by law provided in respect to Landlord and the obligations of Landlord under this Lease are independent obligationsrentals. Tenant shall have no right at any time to aTENANT SHALL NOT HAVE THE RIGHT TO WITHHOLD, ▇▇▇▇▇ OR OFFSET RENT OR TO TERMINATE THIS LEASE EXCEPT AS EXPRESSLY PROVIDED HEREIN. TENANT HEREBY WAIVES AND RELEASES ANY AND ALL STATUTORY RIGHTS AND OFFSET RIGHTS TO THE CONTRARY, reduceIF ANY, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodUNLESS CAUSED BY LANDLORD’S NEGLIGENCE.
Appears in 1 contract
Base Rent. (A) Tenant shall deliver pay to LandlordLandlord during the Term of the Lease the Base Rent, concurrent with T▇▇▇▇▇without notice or demand, in the monthly installments specified in Section 1, in advance on the first day of each calendar month of the Term. The first month’s delivery installment of an executed copy of this Lease to Landlord, the Base Rent due for shall be payable upon the calendar month in which execution of this Lease. If the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur Term commences other than on the first day of a calendar month, then the installment of Base Rent for the first full calendar month following shall be adjusted proportionately, and the date in which aforesaid first installment paid by Tenant upon execution of this Lease shall be initially applied to the day immediately following the expiration first partial month of the Subsequent Abatement Period occurs). Term, and the balance to the next month.
(B) Base Rent, Additional Rent and all other sums payable by Tenant shall pay to Landlord in advancehereunder shall be paid, without demand, abatement, deduction or set-off, monthly installments of Base Rent on off or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Perioddeduction, in lawful currency of the United States of AmericaAmerica to Landlord at the address set forth in Section 1 hereof, or at such other address as Landlord may from time to time designate in writing to Tenant. Tenant hereby acknowledges that late payment by Tenant to Landlord of rent or other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease, the physical address designated exact amount of which will be extremely difficult to ascertain. Such costs include, 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 shall not be received by Landlord or by federally insured electronic fund transfer Landlord’s designee within five (“EFT”5) 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar monthdays after said amount is due, then Tenant shall pay to Landlord the prorated Base Rent for a late charge of five (5%) percent of such partial month on the day immediately following the expiration overdue amount, plus any 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 Subsequent Abatement Period cost that Landlord will incur by reason of the late payment by Tenant. In addition, any amounts due and the prepaid Base Rent delivered not paid by Tenant pursuant to this first sentence of this Section 3(awithin thirty (30) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (same is due shall accrue interest at the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration annual rate of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period12% per annum.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur i) Beginning on the first day of a calendar monthRent Commencement Date, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Base Rent without demand, counterclaim, or set off in lawful money of the United States, monthly 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-this Lease. Tenant Laboratory 8▇▇ shall pay Landlord upon ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period’s execution of this Lease, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer first month’s Base Rent.
(“EFT”ii) 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ agrees to pay Landlord for the Premises, the following (collectively referred to as "Rent"): (a) Base Rent and (b) all additional sums, charges, or amounts of whatever nature ("Additional Rent") to be paid by Tenant to Landlord in accordance with this Lease. Commencing on the Rent Commencement Date, ▇▇.). Payments of ▇▇▇▇ hereby agrees to pay to Landlord Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinRent, if the expiration of the Subsequent Abatement Period occurs payable on a day other than or before the first day of each month in advance, without deduction or set-off. No payment by ▇▇▇▇▇▇ or receipt by Landlord of a calendar monthlesser amount than due hereunder shall be deemed to be other than on account of the earliest stipulated installment of Rent due hereunder. No endorsement or statement on any check or any letter accompanying any check or payment as Rent shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such Rent or pursue any other remedy provided in this Lease.
(iii) All Rent to be paid by Tenant shall be paid as provided in this Lease, and the non- payment of any item when due shall constitute an Event of Default under the terms hereof. If Tenant shall fail to pay any Rent on or before the fifth (5th) day after the due date, then Tenant shall be assessed a late fee of five percent (5%) of the amount which is late each time the Rent is paid after the due date under the Lease. Any unpaid amounts shall also bear interest in the amount of one and one- half percent (1½%) per month. Tenant shall also pay to Landlord all expenses reasonably incurred in the prorated Base Rent for collection of any such partial month on past due amounts, including but not limited to court costs and attorney fees. In the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and event that any check, bank draft, or other sums instrument given to Landlord and the obligations of Landlord for any payment under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except is dishonored for any abatement as may be expressly provided reason whatsoever not attributable to Landlord more than twice during any calendar year, in this Lease. Notwithstanding anything addition to the contrary contained hereinaforementioned late fees, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, i) Tenant shall be required to pay Operating Expenses an administrative charge to Landlord based on the amount allowed by governing law, per event; (ii) Tenant shall replace such check with a cashier’s check or certified check within 24 hours of notice (oral or written) to Tenant by Landlord of the dishonor; and (iii) Landlord shall have the right to require all other amounts payable subsequent monthly installments of Rent to be paid by certified check. Nothing in this Section shall diminish or affect Landlord’s rights or remedies pursuant to this Lease, or otherwise be deemed to waive the payment of Rent when due under the Lease during terms of this Lease. If ▇▇▇▇▇▇ fails to pay Rent for the Subsequent Abatement Period.final month of the Term when due, Landlord shall be entitled to recover from Tenant as liquidated damages, and not as a penalty, an amount equal to three
Appears in 1 contract
Sources: Office Lease
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy pay monthly as Base Rent during the term of this Lease to Landlordthe sum of money set forth in Section 1.5 of this Lease, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay amount will be payable to Landlord in advance, without demand, abatement, deduction or set-off, monthly at the address shown above. Monthly installments of Base Rent shall be due and payable, in advance, on or before the first day of each calendar month during the Term hereof after the expiration term of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions this Lease; provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, that if the expiration of the Subsequent Abatement Period occurs on Commencement Date should be a day date other than the first day of a calendar month, then the monthly Base Rent shall be prorated on a daily basis to the end of that calendar month, and shall be payable on or before the Commencement Date of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Landlord will promptly commence construction of the Building and Premises and shall diligently pursue construction thereof in order to have the Building and the Premises substantially complete on the Commencement Date. For the purposes of this provision, "substantially complete" shall mean that the Building and Premises are substantially completed in accordance with the approved construction documents and the requirements of the City of Arden Hills, subject only to punchlist and minor completion items that will not prevent Tenant from occupying and commencing operations within the Premises, which punchlist and minor completion items Landlord agrees to promptly complete. If, prior to June 15, 1999, Landlord determines that it will not be able to deliver the Building and Premises to Tenant in the condition required by the anticipated Commencement Date, Landlord shall notify Tenant, in writing, on or before July 1, 1999, and the Commencement Date shall be extended to the actual substantial completion date. In such event, Landlord shall provide Tenant with not less than forty-five (45) days prior written notice of the anticipated substantial completion date. If, subject to force majeure or Tenant caused delays, the Building and Premises are not substantially complete and ready for Tenant's occupancy by August 1, 1999, Landlord shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to Tenant, as a credit against the first full calendar month following the expiration installment of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums additional rent payable hereunder, an amount equal to Landlord $500.00 for each day thereafter until the Building and the obligations of Landlord under this Lease Premises are independent obligationssubstantially complete and ready for Tenant's occupancy. If, subject to force majeure or Tenant caused delays, the Building and Premises are not substantially complete and ready for Tenant's occupancy by September 1, 1999, Tenant shall have no right at any time the option to a▇▇▇▇terminate this Lease by written notice to Landlord after September 1, 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 1999 and prior to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration substantial completion of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses Building and all other amounts payable under the Lease during the Subsequent Abatement PeriodPremises.
Appears in 1 contract
Sources: Lease (Fair Isaac & Company Inc)
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease pay to Landlord, Landlord the Base Rent due for set forth in the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (orBasic Lease Information, if such date does not occur without prior notice or demand, on the first day of a each and every calendar monthmonth during the Term, except that Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 is payable shall be paid upon Tenant’s execution of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Lease and Base Rent for any fractional calendar partial month at the beginning of the Term shall be proratedpaid on the Commencement Date. Base Rent for any partial month at the beginning or end of the Term shall be prorated based on the actual number of days in the month. Notwithstanding anything in this Lease to the contrary contained contrary, so long as Tenant is not in default under this Lease, Tenant shall be entitled to an abatement of Base Rent with respect to the Premises, as originally described in this Lease, in the amount of $14,225.25 per month for first four (4) full calendar months of the initial Term. The maximum total amount of Base Rent abated with respect to the Premises in accordance with the foregoing shall equal $56,901.00 (the “Abated Base Rent”). If Tenant defaults under this Lease at any time during the Term and fails to cure such default within any applicable cure period under this Lease, then all Abated Base Rent shall immediately become due and payable. The payment by Tenant of the Abated Base Rent in the event of a default shall not limit or affect any of Landlord’s other rights, pursuant to this Lease or at law or in equity. Only Base Rent shall be abated pursuant to this Section, as more particularly described herein, if and Tenant’s Share of Operating Costs and Taxes and all other Rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the expiration provisions of this Lease. If the Basic Lease Information provides for any change in Base Rent by reference to years or months (without specifying particular dates), the change will take effect on the applicable annual or monthly anniversary of the Subsequent Abatement Period occurs on a day other than Commencement Date (which might not be the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Lease Agreement (Inpixon)
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month in replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 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 shall be responsible for and shall pay to Landlord same at such times and in such manner as the prorated Base taxing authority shall require.
B. To the extent allowed by law, all installments of Rent for such partial month on not paid when due shall bear interest at the day immediately following Default Rate from the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by date due until paid. In addition, if Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant fails to pay any installment of Base Rent and Additional Rent or any other sums to Landlord item of Rent when due and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent payable hereunder and such failure continues for more than five (as defined in Section 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 hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything and payable immediately by Tenant to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodLandlord.
Appears in 1 contract
Sources: Joint Venture Contribution and Formation Agreement (SEACOR Marine Holdings Inc.)
Base Rent. During and for the Term hereof, commencing on the Commencement Date, Tenant shall deliver covenants and agrees to Landlordpay to the Landlord for the Demised Premises, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlordwithout previous notice or demand therefore, and without deduction, set off or abatement, the “Base Rent” as set forth in the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur Schedule attached hereto as Exhibit “C” . Base Rent shall be payable on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 and every calendar month during the Lease Term hereof after with the expiration first such monthly installment to be paid at the time of execution of this Lease. Base Rent for any partial month shall be prorated at the rate of one-thirtieth (1/30th) of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-monthly rent per day. Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodshall be required to pay Landlord interest on any Rent (whether Base Rent, Additional Rent, as defined below or otherwise) due that remains unpaid for ten (10) days after its due date at a rate equal to the maximum rate permitted by law. All Rent shall be paid to Landlord in lawful currency money of the United States of America, at the office of the Landlord, or Landlord’s Agent, or to such other person or at such other place as Landlord may from time-to-time designate in writing. In addition to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinand Additional Rent, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall and hereby agrees to pay to Landlord each month a sum equal to any sales tax, tax on rentals, and any other charges, taxes and/or impositions now in existence or hereafter imposed based upon the prorated Base Rent for such partial month on privilege of renting the day immediately following Demised Premises or upon the expiration amount of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant rentals collected therefor. Nothing herein shall, however, be taken to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of require Tenant to pay Base Rent any part of any Federal and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing State taxes on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodincome imposed upon Landlord.
Appears in 1 contract
Base Rent. Tenant The first full calendar month’s Base Rent shall deliver to Landlord, concurrent with T▇▇▇▇▇’s be due and payable on delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodRent Commencement Date, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco MA Region No. 6375, LLC LLC, as well as the address of the Building (i.e., 8▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇., Watertown, MA). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day Commencement Date is other than the first day of a calendar month, then the difference between the first full calendar month’s Base Rent paid upon delivery of an executed copy of this Lease by Tenant shall pay to Landlord as required above, and the prorated Base Rent for such partial the fractional month on in which the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) Commencement Date occurs, shall be applied by Landlord to such first full calendar month after the Commencement Date and Tenant shall pay the remainder of the first full calendar month following month’s rent to Landlord on or before the expiration first day of the Subsequent Abatement Periodsuch first full calendar month. The obligation of Tenant to pay Base Rent, Additional Rent and any other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, 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 For the contrary contained herein, so long as Tenant is not then in Default under this Leaseavoidance of doubt, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any defense, counterclaim, setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month in replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant's request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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 pursuant to this first sentence of this Section 3(a) hereunder shall be applied first to the first full calendar month following the expiration of the Subsequent Abatement Periodearliest accrued and unpaid Rent then outstanding. The obligation of Tenant 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 sums item of Rent when due and payable hereunder, a "Late Charge" equal to Landlord five percent (5%) of such unpaid amount will be due and the obligations of Landlord under this Lease are independent obligations. payable immediately by Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Landlord.
C. The Additional Rent (as defined in Section 5) due payable hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses adjusted from time-to-time in accordance with the provisions of Section 11 and Exhibit C attached hereto and incorporated herein for all other amounts payable under the Lease during the Subsequent Abatement Periodpurposes.
Appears in 1 contract
Sources: Office/Flex Building Lease (MRS Fields Financing Co Inc)
Base Rent. A. Except as otherwise provided herein, Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the pay as initial Base Rent due for to Landlord the calendar month Annual Base Rent as set forth in which the day immediately following Lease Schedule in equal monthly installments as set forth as the expiration of Monthly Base Rent in the Subsequent Abatement Period occurs (or, if such date does not occur Lease Schedule in advance on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent and on or before the first day of each calendar month thereafter during the Term, and at the same rate for fractions of a month if the Term hereof after shall begin on any day except the expiration first day or shall end on any day except the last day of a calendar month, provided however so long as Tenant is not in default, Base Rent shall be abated until March 1, 2000.
B. Any rent (whether Base Rent or additional rent) or other amount due from Tenant to Landlord under this Lease not paid when due shall incur a late fee equal to interest from the receipt of notice from Landlord until the date paid at the annual rate of Four (4%) Percent above the prime rate as set forth as the Base Rate on Corporate Loans published by the Wall Street Journal from time to time, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. The covenants herein to pay rent (both Base Rent and additional rent) shall be independent of any other covenant set forth in this Lease.
C. Base Rent and all of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multirent provided herein shall be paid without deduction or off-Tenant Laboratory 8set in lawful money of the United States of America to c/o ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Ash, Anos, ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇, L.L.C., ▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇, ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything ▇▇▇ or as designated from time to the contrary contained hereintime by written notice from Landlord, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. provided Tenant shall have no the right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent by wire transfer and Landlord agrees to provide account information on request for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodsuch purpose.
Appears in 1 contract
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy pay monthly as Base Rent during the Term of this Lease the sum set forth in Section 1.5 of this Lease, which amount shall be payable to Landlord, Landlord at the address shown above. The first monthly installment of Base Rent shall be due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur and payable to Landlord on the first day of a calendar month, Base Rent Commencement Date for the first full calendar month following the date in which the day immediately following the expiration month’s rent and each monthly installment of the Subsequent Abatement Period occurs). Tenant rent shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodthis Lease, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinprovided, if the expiration of the Subsequent Abatement Period occurs on Commencement Date should be a day date other than the first day of a calendar month, then 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 the prorated Base Rent for such partial month on the day immediately following the expiration upon Landlord’s delivery of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant Premises to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this LeaseTenant. Notwithstanding anything in this Lease to the contrary contained hereincontrary, so long as if Landlord cannot deliver possession of the Premises to the Tenant is not then in Default under on the Delivery Date due to a holding over by a prior tenant, Tenant’s default, or casualty affecting the Premises, this Lease, Tenant Lease shall not be required void or voidable, nor shall Landlord be liable to pay Base Rent Tenant for any loss or damage resulting therefrom, but the period commencing on Delivery Fee and all rents and other amounts due hereunder shall be abated until Landlord delivers possession and the Rent expiration date of the Lease shall be extended by the corresponding number of days that the Commencement Date through is postponed. Provided, however, if Landlord does not deliver possession of the date that is 365 Premises to Tenant within thirty (30) days after the Rent Commencement Date (the “Subsequent Abatement Period”). Delivery Date, then Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under may terminate the Lease during the Subsequent Abatement Periodupon giving Landlord written notice.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery As part of an executed copy the consideration for the execution of this Lease Agreement, Lessee covenants and agrees and promises to Landlord, pay as base rent monthly installments in accordance with the rental schedule set forth below (the “Base Rent due for the calendar month Rent”) in which the day immediately following the expiration legal tender of the Subsequent Abatement Period occurs United States of America payable to Lessor at the Building management office (or, if or such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date other address as may be designated by Lessor in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay writing from time to Landlord time) in advance, without demanddemand and without deduction, 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 hereof; provided, however, the expiration 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 DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodmonth in which rent is due, rent shall be considered delinquent and 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 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 delivered. Lessee acknowledges that Lessor’s failure to provide such written invoices shall in no way serve to waive any of Lessee’s obligation to pay any other 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 lawful currency 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 physical address designated extent that the Maximum Rate is determined by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant reference to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address laws of the Building (i.e.State of Texas, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month the Maximum Rate shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent weekly ceiling (as defined and described in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration Chapter 303 of the Subsequent Abatement Period. For Texas Finance Code, as amended) at the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodapplicable time in effect.
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Base Rent. Tenant (i) The first month’s Base Rent shall deliver to Landlord, concurrent with T▇▇▇▇▇’s be due and payable on delivery of an executed copy of this Lease to Landlord. Except as provided herein, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodRent Commencement Date, in lawful currency 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 physical address designated by Landlord 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 by federally insured electronic fund transfer (“EFT”B) via wirethe date Tenant commences occupancy and use of the Additional Office Premises, Society Tenant shall pay Base Rent on the Additional Office Premises, at the same rate as Base Rent for Worldwide Interbank Financial Communications the Initial Premises and at the time.
(SWIFTiii) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant Commencing September 1, 2005 (the “EFT Payment InstructionsAdditional Laboratory Commencement Date”). All EFT payments made by , Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of shall commence paying Base Rent for any fractional calendar month on the Additional Laboratory Premises as follows. Tenant shall be prorated. Notwithstanding anything responsible for making any improvements to the contrary contained hereinAdditional Laboratory Premises. Commencing on the Additional Laboratory Commencement Date, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant begin to pay Base Rent and other sums to Landlord and at the obligations rate of Landlord under this Lease are independent obligationsShell Rent for the Additional Laboratory Premises. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent Commencing on the earlier of (as defined in Section 5A) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything the date of substantial completion of the improvements to the contrary contained hereinAdditional Laboratory Premises or (B) June 1, so long as Tenant is not then in Default under this Lease2006, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following Additional Laboratory Premises at the expiration 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 Subsequent Abatement Period. For the avoidance of doubt, Additional Tenant shall Improvement Allowance elected to be required to pay Operating Expenses and all other amounts payable under the Lease used by Tenant at any time during the Subsequent Abatement PeriodTerm.
Appears in 1 contract
Sources: Sublease (Atossa Genetics Inc)
Base Rent. Tenant shall deliver pay Base Rent to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy Landlord throughout the Term of this Lease to Landlord, the as set forth herein. All Base Rent due for shall be paid to Landlord in monthly installments in advance on the first day of each and every calendar month in which throughout the day immediately following Term of this Lease; provided, however, that (a) the expiration installment of Suite A-1 Base Rent applicable to the first (1st) full calendar month of the Subsequent Abatement Suite A-1 Period occurs shall be payable upon Tenant's execution of this Lease; (or, b) if such date the Term of this Lease does not occur commence on the first day of a calendar month, the initial level of Suite A-1 Base Rent for payable with respect to the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occursTerm shall (i) be calculated on a per diem basis determined by dividing the initial monthly Suite A-1 Base Rent [i.e., [*****]] by the total number of calendar days in such first full calendar month and multiplying such amount by the number of days occurring in such first full calendar month from and including the Commencement Date (A). , and (ii) be paid by 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer Commencement Date (“EFT”A); and (c) 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Suite B-1 Period occurs does not commence on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated initial level of Suite B-1 Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied payable with respect to the first (1st) full calendar month following the expiration of the Subsequent Abatement Period. The obligation Suite B-1 Period shall (i) be calculated on a per diem basis determined by dividing the initial monthly Suite B-1 Base Rent [i.e., [*****]] by the total number of calendar days in the calendar month in which Commencement Date (B) occurs, and multiplying such amount by the number of days occurring in such calendar month from and including the Commencement Date (B), and (ii) be paid by Tenant to pay Base Rent and other sums to Landlord and on the obligations of Landlord under Commencement Date (B). Except as set forth in this Lease are independent obligations. Section 3.1, Tenant shall have no right at not pay any time to a▇▇▇▇installment of Rent more than one (1) month in advance. For avoidance of doubt, 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 herein, so long as if Tenant is not then in Default entitled to any credits against Rent for a particular Tenant Space under the terms and provisions of this Lease, Tenant shall not be required have the right to pay Base deduct such credited amounts against the next payment(s) of Rent for related to the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). applicable Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses Space due and all other amounts payable under the Lease during the Subsequent Abatement Periodhereunder.
Appears in 1 contract
Base Rent. a. Tenant shall deliver pay to Landlord Base Rent during the Term hereof, without notice or demand, in the monthly installments specified in Section 1, in advance on the first day of each calendar month of the Term, at Landlord, concurrent with T▇▇▇▇▇’s delivery 's principal office as indicated in Section 1 above. The first month's installment of an executed copy Premises "A" Base Rent shall be payable upon the execution of this Lease to Landlord, Lease. If the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur Term commences other than on the first day of a calendar month, then the installments of Base Rent for the first full and last calendar month following the date in which the day immediately following the expiration months of the Subsequent Abatement Period occurs)Term shall be adjusted proportionately. Notwithstanding anything in this subsection 5(a) to the contrary, the Premises "A" Base Rent payable hereunder for the first 104 days of the Term shall equal $13,262.40 per month [$4.75 per square foot to cover Tenant's Proportionate Share of Operating Expenses] to be prorated on a per diem basis. --- ----
b. Base Rent, Additional Rent and all other sums payable by Tenant shall pay to Landlord in advancehereunder shall be paid, without demand, abatement, deduction or set-off, monthly installments of Base Rent on off or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Perioddeduction, in lawful currency of the United States of America, America to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as at the address of set forth in Section 1 hereof, or at such other address as Landlord may from time to time designate in writing to Tenant. In the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for event that any fractional calendar month such rent or other sums shall be prorated. Notwithstanding anything to the contrary contained herein, if unpaid on the expiration or termination hereof, the obligation therefor shall survive such expiration or termination of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 In order to partially compensate Landlord for the extra expense incurred in the handling of delinquent payments, Tenant agrees to pay Landlord a late charge equal to the contrary contained herein, so long as Tenant is product obtained by multiplying each installment of Fixed Rent Or Additional Rent not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 paid within ten (10) days after its due date by five (5%) percent. Notwithstanding the Rent Commencement Date (above, Landlord agrees not to assess such late charge until ten days have elapsed after Landlord has given Tenant notice of such delinquency; provided, however, that Landlord shall -------- ------- have the “Subsequent Abatement Period”). right to assess such late charge without notice to Tenant shall commence paying full Base Rent on in the day immediately following the expiration event Landlord has given Tenant notice of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease past delinquencies at least once during the Subsequent Abatement Periodprior 12 months.
Appears in 1 contract
Base Rent. Tenant shall deliver pay an annual base rent (herein called "Base Rent") to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, Landlord for the Premises which Base Rent due for the calendar month shall be payable in which the day immediately following the expiration of the Subsequent Abatement Period occurs equal monthly installments (orherein called 'Monthly Base Rent"), if such date does not occur in advance on the first day of each calendar month of the Term in the amounts set forth in, and in accordance with the provisions of. Exhibit B. attached hereto and incorporated herein by this reference thereto. If the Term shall begin on any date except the first day, or shall end on any day except the last day of a calendar month, Base Rent shall be payable at a per diem rate based on the then current monthly payment. Base Rent, Additional Rent (as hereinafter defined), and all other amounts becoming due from Tenant to Landlord hereunder (herein collectively called the "Rent") shall be paid in lawful money of the United States to Landlord at the office of Landlord, or as otherwise designated from time to time by written notice from Landlord to Tenant. Concurrently with the execution hereof and at Landlord's request, Tenant shall pay Landlord Monthly Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs)Term. Landlord may authorize Tenant to take possession of all or any part of the Premises prior to the beginning of the Term. If Tenant does take possession pursuant to authority so given. all of the covenants and conditions of this lease shall pay apply to Landlord in advance, without demand, abatement, deduction or setand shall control such pre-off, monthly installments of Base Term occupancy. Rent for such pre-Term occupancy shall be paid upon occupancy and on or before the first day of each calendar month during thereafter at the Term hereof after rate set forth in Sections 1 and 2 hereof, If the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society Premises are occupied for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)a fractional month. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs prorated on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent per diem basis for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Periodfractional month. The obligation payment of Tenant to pay Base Rent hereunder is independent of each and other sums to Landlord every oilier covenant and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided agreement contained in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodlease.
Appears in 1 contract
Sources: Office Lease (Mypoints Com Inc)
Base Rent. Tenant Base Rent for the first full calendar month immediately following the expiration of the Abatement Period (as defined below) (or, if the first month immediately following the expiration of the Abatement Period is not a full calendar month, then the first full calendar month immediately following the expiration of the Abatement Period) and the Security Deposit shall deliver to Landlord, concurrent be due and payable concurrently with T▇▇▇▇▇Tenant’s delivery of an executed copy of this Lease to Landlord, the . Such prepaid Base Rent due for shall be applied to Base Rent payable commencing on the calendar month in which the day date immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occursas defined below). 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 expiration of Rent Commencement Date (subject to the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period), in lawful currency money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to the physical address designated by such other person or at such other place as Landlord may from time to time designate in writing, or by via federally insured electronic fund wire transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (including ACH) pursuant to the wire instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Landlord. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇ab▇▇▇, 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 contained herein to the contrary contained hereincontrary, so long as Tenant is not then in Default default under this LeaseLease (beyond any applicable notice or cure periods), Tenant shall not be required to pay Base Rent shall be abated for the period commencing on the Rent Commencement Date (or, if the Rent Commencement Date does not occur on the first day of a calendar month, then on the first day of the first full calendar month following the Rent Commencement Date) through the date that is 365 days after expiration of the 3rd full calendar month following the Rent Commencement Date (the “Subsequent Abatement Period”). 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, on the Rent Commencement Date, Tenant shall pay to Landlord the prorated Base Rent due (which shall not be subject to abatement pursuant to this paragraph) for the calendar month in which the Rent Commencement Date occurs. Tenant shall commence paying full Base Rent with respect to the entire Premises on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to acknowledges and agrees that if the Rent Commencement Date does not occur on the first day of a calendar month, Tenant will, on the Rent Commencement Date, pay Operating Expenses and all other amounts payable under Landlord the Lease during the Subsequent Abatement PeriodBase Rent due for such partial month.
Appears in 1 contract
Sources: Lease Agreement (Vaxcyte, Inc.)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period Rent Commencement Date occurs (or, if such date the Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occursRent 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodRent Commencement Date, in lawful currency of the United States of America, to the physical address designated by Landlord for the 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ LP, LLC as well as the address of the Building (i.e., 8▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇.▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period Rent Commencement Date occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period Rent Commencement Date and the prepaid Base Rent delivered by Tenant pursuant to this the first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement PeriodRent Commencement Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant Multi-Tenant Office611 Gateway – Suite 900/Rigel Pharmaceuticals - Page 4 shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 53(b)) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy pay monthly as Base Rent during the term of this Lease to Landlordthe sum of money set forth in Section 1.5 of this Lease, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay amount will be payable to Landlord in advance, without demand, abatement, deduction or set-off, monthly at the address shown above. Monthly installments of Base Rent shall be due and payable, in advance, on or before the first day of each calendar month during the Term hereof after the expiration term of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions this Lease- provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, that if the expiration of the Subsequent Abatement Period occurs on Commencement-Date should be a day date other than the first day of a calendar month, then the monthly Base Rent shall be prorated on a daily basis to the end of that calendar month, and shall be payable on or before the Commencement Date of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Based on Tenant's approval of the floor plan as depicted in EXHIBIT C by March 17, 1997, the Landlord agrees that upon Landlord's receipt of a building permit allowing it to construct the Building, Landlord will promptly commence construction of the Building and Premises and shall diligently pursue construction thereof in order to have the Building and the Premises substantially complete on the Commencement Date. For the purposes of this provision, substantially complete shall mean that the Building and Premises are substantially completed in accordance with the approved construction documents and the requirements of the City of Arden Hills, subject only to punchlist and minor completion items that will not prevent Tenant from occupying and commencing operations within the Premises, which punchlist and minor completion items Landlord agrees to promptly complete. If, prior to June 15, 1997, Landlord determines that it will not be able to deliver the Building and Premises to Tenant in the condition required by the Commencement Date, Landlord shall notify Tenant, in writing, on or before June 15, 1997, and the Commencement Date shall be extended to the actual substantial completion date. In such event, Landlord shall provide Tenant with not less than forty-five (45) days prior written notice of the anticipated substantial completion date. If, subject to force majeure or Tenant caused delays (including Tenant's failure to approve the floor plan by March 17, 1997), the Building and Premises are not substantially complete and ready for Tenant's occupancy by September 1, 1997, Landlord shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to Tenant, as a credit against the first full calendar month following the expiration installment of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums additional rent payable hereunder, an amount equal to Landlord $500.00 for each day thereafter until the Building and the obligations of Landlord under this Lease Premises are independent obligationssubstantially complete and ready for Tenant's occupancy. If, subject to force majeure or Tenant caused delays (including Tenant's failure to approve the floor plan by March 1, 1997), the Building and Premises are not substantially complete and ready for Tenant's occupancy by November 1, 1997, Tenant shall have no right at any time the option to a▇▇▇▇terminate this Lease by written notice to Landlord after November 1, 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 1997 and prior to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration substantial completion of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses Building and all other amounts payable under the Lease during the Subsequent Abatement PeriodPremises.
Appears in 1 contract
Sources: Lease (Fair Isaac & Company Inc)
Base Rent. Tenant shall deliver pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, concurrent with T▇▇▇▇▇or, at Landlord’s delivery of an executed copy of this Lease option, at such other place as Landlord may from time to Landlord, time designate in writing (provided any such notice changing the place for payment is given to Tenant no later than fifteen (15) days prior to the next date that Base Rent due is due), in a check for currency which, at the calendar month time of payment, is legal tender for private or public debts in which the day immediately following the expiration United States of America, base rent (“Base Rent”) as set forth in Section 6 of the Subsequent Abatement Period occurs (orSummary, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date payable in which the day immediately following the expiration equal monthly installments as set forth in Section 6 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent advance on or before the first day of each calendar and every month during the Term hereof after the expiration Lease Term, commencing with respect to each floor of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, Premises on the Lease Commencement Date therefor as set forth in lawful currency Section 5.2 of the United States of AmericaSummary, to the physical address designated by Landlord without any setoff or by federally insured electronic fund transfer deduction whatsoever (“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”except as otherwise expressly set forth in this Lease). All EFT payments made Notwithstanding the foregoing, Base Rent shall be increased by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments amount of Base Rent for any fractional the Must Take Space effective as of the Must Take Space Commencement Date as set forth in Section 1.5 of this Lease. The Base Rent for the first full month of the Lease Term which occurs in calendar month year 1999 for both the initial Premises and the Must Take Space (i.e., a total of $218,229.30) shall be proratedpaid at the time of Tenant’s execution of this Lease. Notwithstanding anything to If any Rent payment date (including the contrary contained herein, if Lease Commencement Date for the expiration of the Subsequent Abatement Period occurs 22nd Floor Space) 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 be a proportionate amount of a full calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month ’s rental based on the day immediately following proportion that the expiration number of days in such fractional month bears to the Subsequent Abatement Period and number of days in the prepaid Base Rent delivered by Tenant pursuant calendar month during which such fractional month occurs. All other payments or adjustments required to this first sentence be made under the terms of this Section 3(a) Lease that require prorated on a time basis shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing prorated on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodsame basis.
Appears in 1 contract
Sources: Office Lease (Health Net Inc)
Base Rent. Tenant shall deliver to LandlordCommencing on the Rent Commencement Date, concurrent with T▇▇▇▇▇’s delivery of an executed copy and continuing --------- thereafter throughout the Initial Term of this Lease Lease, Tenant hereby agrees to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advancefor the Demised Premises, without demand, abatement, offset or 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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), and without previous demand therefor, base rent ("Base Rent") in the amount set forth on Exhibit "D" attached hereto ----------- and by reference made a part hereof. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay All Base Rent for shall be payable by Tenant in monthly installments and shall be due and payable by Tenant in advance on the period commencing on first day of each and every calendar month. In the event that the Rent Commencement Date through occurs on other than the date that first calendar day of a month, or if the last day of the term of this Lease is 365 days after other than the Rent Commencement Date (last calendar day of a month, the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on due under this Lease for the day immediately following first and/or last month, as the expiration of the Subsequent Abatement Period. For the avoidance of doubtcase may be, Tenant shall be required to pay Operating Expenses prorated on a daily basis. All Base Rent and all other amounts payable by Tenant to Landlord under this Lease shall be paid at Landlord's address for notices as set forth herein, or at such other place as Landlord may from time to time designate by written notice to Tenant. All payments of rent or other amounts required to be made to Landlord shall be in lawful money of the Lease during United States of America, which may be paid by check, subject to collection. No payment by Tenant or receipt by Landlord of a lesser amount than the Subsequent Abatement Periodrent herein specified, nor any endorsement or statement on any check or letter accompanying such check, shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or to pursue any other remedy provided in this Lease.
Appears in 1 contract
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord at the address set forth in Section 1(n), as base rent for the Demised Premises, commencing on the Base Rent Commencement Date and continuing throughout the Term in lawful money of the United States, the annual amount set forth in Section 1(d), payable in equal monthly installments as set forth in Section 1(e) (the "Base Rent"), payable in advance, without demand, demand and without abatement, deduction or reduction, set-offoff or deduction, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after Term; provided, however, that Tenant shall receive a credit against the expiration first monthly Base Rent Installment in the amount of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi$15,000.00, representing pre-paid rent previously paid by Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant a separate agreement (the “EFT Payment Instructions”"Pre-Paid Rent"). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as If the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month Commencement Date shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs fall on a day other than the first day of a calendar month, then the Base Rent shall be apportioned pro rata on a per diem basis for the period between the Base Rent Commencement Date and the first day of the following calendar month.
4.1 Landlord is providing to Tenant, in the manner described in the Preliminary Plans, an allowance of $13.33 per square foot of the Demised Premises ("Maximum Construction Allowance") for the installation of certain improvements for Tenant at the Demised Premises ("Allowance Work"). Landlord will describe with reasonable specificity, in Exhibit D attached to this Lease, the scope of Landlord's Work (as defined in Section 17), for the purpose of allowing Tenant to differentiate between the Landlord's Work, which is being performed at the expense of Landlord, and the work which is chargeable against the Maximum Construction Allowance. The Base Rent set forth in Sections 1(d) and 1(e) of this Lease has been calculated on the assumption that the full amount of the Maximum Construction Allowance will be utilized by Tenant. Landlord and Tenant have agreed that if Tenant does not utilize the full Maximum Construction Allowance, Base Rent will be decreased in the manner provided in this Section 4.1; provided, however, that the Allowance Saving (as hereinafter defined) shall in no event exceed $3.33 per square foot of the Demised Premises. If Tenant does not use the full amount of the Maximum Construction Allowance, the difference between the amount of the Maximum Construction Allowance actually used and the full Maximum Construction Allowance is referred to herein as the "Allowance Savings". Subject to the limitation set forth in the immediately preceding paragraph, the Base Rent shall be reduced by an amount sufficient to amortize fully the Allowance Savings, at 11% per annum ("Amortization Rate"), in equal monthly installments over the Primary Term. The amount, if any, of a reduction in the Base Rent pursuant to this paragraph shall remain constant throughout the Primary Term and shall not escalate at the commencement of the 6th Lease Year. If the cost of the Allowance Work exceeds the Maximum Construction Allowance, Landlord agrees to fund the payment of such increased cost up to an absolute maximum of $100,000.00 ("Maximum Excess Allowance"), and the Base Rent (and Monthly Base Rent Installments) will be increased in the manner hereinafter described in this Section 4.1 in order to repay Landlord in full for the costs so paid by Landlord. Nothing contained in this Section 4.1 creates or implies any duty or obligation of Landlord to approve Change Orders (as defined in Section 17), except in accordance with Section 17. The amount actually paid by Landlord from the Maximum Excess Allowance is hereinafter referred to as the "Actual Excess Allowance". After the amount of the Actual Excess Allowance (in any event not greater than the Maximum Excess Allowance) has been paid by Landlord, the Base Rent and the Monthly Base Rent Installments shall increase in the following manner: Tenant shall pay repay to Landlord the prorated Actual Excess Allowance by increasing the Monthly Base Rent for such partial month Installments during the Primary Term, beginning on the first day immediately following the expiration of the Subsequent Abatement Period first full calendar month after the amount of the Actual Excess Allowance is paid, by an amount equal to the level monthly payment of principal and interest that would amortize a principal amount equal to the prepaid Base Rent delivered Actual Excess Allowance over the number of months remaining in the Primary Term at an interest rate of eleven percent (11%) per annum. All amounts payable by Tenant pursuant to this first sentence Section 4.1 to amortize the Actual Excess Allowance shall remain constant throughout the Primary Term and shall not increase at any time during the Primary Term; the Actual Excess Allowance must, in all events, be fully repaid by Tenant to Landlord by the end of the Primary Term (including, without limitation, the unamortized balance thereof upon termination of this Lease as a result of an Event of Default). After a final determination is made pursuant to this Section 4.1 regarding any adjustment of Base Rent for Allowance Savings or expenditure of the Actual Excess Allowance, Landlord and Tenant shall, upon request of Landlord or Tenant, execute and deliver an amendment and restatement of this Lease which will (i) adjust appropriately the rental amount specified in Sections 1(d) and 1(e) and (ii) delete this Section 4.1 in its entirety and any reference elsewhere in this Lease to the provisions of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period4.1.
Appears in 1 contract
Sources: Lease Agreement (I Flow Corp /Ca/)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇prepay one (1) Month’s delivery installment of an executed copy of this Lease to Landlord, the Base Rent by the Execution Date, to be applied against Base Rent first due for under this Lease. During the calendar month Term, Tenant shall pay all other Base Rent in which the day immediately following the expiration of the Subsequent Abatement Period occurs (oradvance, if such date does not occur in monthly installments, on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first (1st) business day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)Month. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall partial Month will be prorated. Landlord agrees, upon request by Tenant, to accept such payments electronically. Notwithstanding anything to the contrary contained hereinforegoing, if during the expiration period of time beginning on the Subsequent Abatement Period occurs on a day other than Lease Commencement Date and continuing through April 15, 2011 (the first day of a calendar month“Burnoff Date”), then Tenant shall pay to Landlord the receive a conditional, partial abatement of $83,367.08 per month against Tenant’s Monthly Base Rent payments. On April 16, 2011, Tenant shall make a prorated Base Rent for such partial month on the day immediately following the expiration payment of $41,683.54 (representing one-half of the Subsequent Abatement Period monthly abatement amount), and the prepaid shall thereafter make Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (payments as defined in Section 5) due hereunder except for any abatement as may be expressly otherwise provided in this Lease. Notwithstanding anything to the contrary contained hereinsuch partial abatement of Base Rent, so long as Tenant is not then in Default (a) all other sums due under this Lease, including Additional Rent and the unabated portion of each monthly Base Rent installment (which unabated portion is $7,050.48) due and payable from the Lease Commencement Date through April 15, 2011, shall be payable as provided in this Lease, and (b) any increases in Base Rent set forth in this Lease shall occur on the dates scheduled therefor. Abatement of Base Rent is conditioned upon Tenant shall not be required being in monetary or other material Default beyond any applicable notice and cure period. If Tenant is in monetary or other material Default beyond any applicable notice and cure period, then in addition to pay Landlord’s other remedies, any further abatement of Base Rent for the Premises shall immediately cease and become void, and Tenant shall promptly pay to Landlord, in addition to all other amounts due to Landlord under this Lease and any other remedies available to Landlord, the unamortized portion, as of the date of the Default, of the total of all abated Base Rent for the Premises, which portion shall be determined by amortizing said total of abated rent at ten percent (10%) per annum over the period commencing on the Rent Lease Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent and ending on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodExpiration Date.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the pay Base Rent due for in the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur amounts set forth on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs)Addendum 4 attached hereto. Tenant shall promises to pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent and estimated Operating Expenses (as hereafter defined) on or before the Commencement Date and the first day of each calendar month during succeeding the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Commencement Date. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for hereunder (or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant other party as Landlord may from time to this first sentence of this Section 3(atime specify in writing) shall be applied made at the Rent Payment Address, or at such place, within the continental United States, as Landlord may from time to the first full calendar month following the expiration of the Subsequent Abatement Periodtime designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇ab▇▇▇, reduce, or set-off any Rent (as defined in Section 5) rent due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as If Tenant is not then delinquent in Default under this Leaseany monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 8 percent of such delinquent sum. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be required 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 pay Base Rent for be other than a payment on account of the period commencing 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 Rent Commencement Date through the balance or pursue any other available remedy. The acceptance by Landlord of an installment of rent on a date that is 365 days after the Rent Commencement Date (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. If Tenant's payment by check is returned for non-sufficient funds or for any other reason, Landlord at its sole option may require all future payments to be made by cashier's or certified check, money order, or wire transfer, and the “Subsequent Abatement Period”). Tenant delivery of Tenant's personal or corporate check shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodno longer constitute payment thereof.
Appears in 1 contract
Sources: Industrial Lease Agreement (Optex Systems Holdings Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur Commencing on the first day of a calendar monthCommencement Date, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord, at the address of Landlord in advancespecified at the top of this Lease, without demandor at such other address as Landlord shall have designated, abatementfrom time to time, deduction or set-offby notice to Tenant, monthly installments of the “Base Rent” set forth below, which Base Rent shall thereafter be due and payable to Landlord on or before the first (1st) day of each calendar Lease Quarter (as hereinafter defined) in advance and without further notice. As used herein, “Lease Year” shall mean each consecutive twelve (12) month during period beginning with the Term hereof after Commencement Date, and “Lease Quarter” shall mean each consecutive three (3) month period constituting one–quarter of each Lease Year. If the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month Commencement Date shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a any day other than the first day of a calendar month, then Tenant (y) the first Lease Year shall pay to Landlord the prorated Base Rent for such partial month end on the last day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to calendar month in which the first full calendar month following the expiration anniversary of the Subsequent Abatement Period. The obligation of Tenant to pay Commencement Date occurs, and (z) Base Rent and other sums to Landlord charges for the first and the obligations last Lease Quarter of Landlord under this such first Lease are independent obligationsYear shall be pro rated on a per diem basis. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for For the period commencing on the Commencement Date and ending on the earlier of (i) the date Tenant is open for business at the Premises, or (ii) August 31, 2010, the Base Rent shall be [*****] Dollars ($[*****]) per Lease Year (or [*****]Dollars ($[*****]) per Lease Quarter). Commencing on the next following day (the “Increased Rent Commencement Date through Date”), the date that is 365 days Base Rent shall be [*****] Dollars ($[*****]) per Lease Year (or [****] Dollars ($[*****]) per Lease Quarter), which amount shall increase by [*****] percent ([***]%) on the expiration of each fifth (5th) Lease Year from and after the Increased Rent Commencement Date (the “Subsequent Abatement Period”including prior to and during each Renewal Term hereunder). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Ground Lease (Trump Entertainment Resorts Funding Inc)
Base Rent. Tenant shall deliver pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Building, concurrent 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 10 of the Summary, payable in equal monthly installments as set forth in Section 10 of the Summary in advance on or before the first (1st) day of each and every month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first (1st) full calendar month of the Lease Term shall be deposited into escrow with Tthe escrow holder for the Project Purchase (as defined in Section 29.34 of this Lease) concurrently with ▇▇▇▇▇▇’s delivery execution of an executed copy this Lease, with instructions acknowledged by said escrow holder that such prepaid Base Rent shall be promptly released to Tenant in the event this Lease is terminated by Tenant as a result of the failure of Landlord to provide the SNDA as set forth in Section 29.34 of this Lease to Landlord, the (and which prepaid Base Rent due for the calendar month in which the day immediately following the expiration shall be released to Landlord upon Tenant’s receipt of the Subsequent Abatement Period occurs (or, if such date does SNDA). If the Lease Commencement Date is not occur on the first (1st) day of a calendar month, then Base Rent for the first full calendar partial month following the date in which the day immediately following the expiration commencing as of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month Lease Commencement Date shall be prorated. Notwithstanding anything to prorated based upon the contrary contained herein, if actual number of days in such month and shall be due and payable upon the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period Lease Commencement Date and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) pre-paid rent shall be applied to the sixth (6th) month of the Lease Term. If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first (1st) 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 following bears to the expiration number of days in the Subsequent Abatement Periodcalendar month during which such fractional month occurs. The obligation All other payments or adjustments required to be made under the terms of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant that require proration on a time basis shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing prorated on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodsame basis.
Appears in 1 contract
Sources: Lease (GenMark Diagnostics, Inc.)
Base Rent. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month replacement of electric lamps and ballasts and any other services, goods or materials in excess of Building Standard furnished by Landlord at Tenant’s request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs)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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rent and Additional Rent to Landlord without demand. If the expiration obligation of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of to pay the United States of America, Base Rent and the Additional Rent to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wireLandlord, 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63provisions of Sections 1.B. and 1.F., LLC as well as the address of the Building (i.e.above, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs commences on a day other than the first day of a calendar month or, if the Lease Term terminates on a day other than the last day of a month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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 pursuant to this first sentence of this Section 3(a) hereunder shall be applied first to the first full calendar month following the expiration of the Subsequent Abatement Periodearliest accrued and unpaid Rent then outstanding. The obligation of Tenant Tenant’s covenant to pay Base Rent and shall be independent of every other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided covenant set forth in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Office Lease Agreement (Mammoth Energy Services, Inc.)
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease pay to Landlord, Landlord the Base Rent due for set forth in the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (orBasic Lease Information, if such date does not occur without prior notice or demand, on the first day of a each and every calendar monthmonth during the Term, except that Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ is payable shall be paid upon T▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency ’s execution of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Lease and Base Rent for any fractional calendar partial month at the beginning of the Term shall be proratedpaid on the Commencement Date. Notwithstanding anything to Base Rent for any partial month at the contrary contained herein, if the expiration beginning or end of the Subsequent Abatement Period occurs Term shall be prorated based on a day other than the actual number of days in the month. If the Basic Lease Information provides for any change in Base Rent by reference to years or months (without specifying particular dates), the change will take effect on the applicable annual or monthly anniversary of the Commencement Date (which might not be the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 in this Lease to the contrary contained hereincontrary, so long as Tenant is not then in Default default beyond applicable cure periods under this Lease, Tenant shall not be required to pay Base Rent for (a) during the period commencing on the Rent Commencement Date first (1st) through the date that is 365 days after the Rent Commencement Date sixth (the “Subsequent Abatement Period”). Tenant shall commence paying 6th) full Base Rent on the day immediately following the expiration months of the Subsequent Abatement Period. For the avoidance of doubtinitial Term, Tenant shall be required entitled to pay an abatement of (i) Base Rent with respect to the Premises in the amount of $313,036.55 per month, and (ii) Tenant’s Share of Operating Expenses Costs and Taxes, and (b) during the seventh (7th) through twelfth (12th) full months of the initial Term, an abatement of (i) Base Rent with respect to the Premises in the amount of $156,518.30 per month, and (ii) fifty percent (50%) of Tenant’s Share of Operating Costs and Taxes ((a) and (b) above, collectively, the “Abated Rent”). If Tenant defaults under this Lease at any time during the Term and fails to cure such default within any applicable cure period under this Lease, then all Abated Rent shall immediately become due and payable. The payment by Tenant of the Abated Rent in the event of a default shall not limit or affect any of Landlord's other rights, pursuant to this Lease or at law or in equity. Only Base Rent and T▇▇▇▇▇’s Share of Operating Costs and Taxes shall be abated pursuant to this Section, as more particularly described herein, and all other amounts Rent and other costs and charges specified in this Lease shall remain as due and payable under pursuant to the Lease during the Subsequent Abatement Periodprovisions of this Lease.
Appears in 1 contract
Base Rent. Commencing on the Lease Commencement Date, Tenant shall deliver pay, without prior notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, agent at the Base Rent due for the calendar month address set forth in which the day immediately following the expiration Section 4.2 of the Subsequent Abatement Period occurs (Summary, or, if at Landlord’s option, at such date does not occur on 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 first day time of a calendar monthpayment, is legal tender for private or public debts in the United States of America, base rent (“Base Rent for the first full calendar month following the date Rent”) as set forth in which the day immediately following the expiration Section 4 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, payable in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 4 of Base Rent the Summary in advance on or before the first day of each and every calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodLease Term, in lawful currency of the United States of America, to the physical address designated by Landlord without any setoff 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”)deduction whatsoever. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of The Base Rent for any fractional calendar the first full month of the Lease Term shall be proratedpaid at the time of Tenant’s execution of this Lease. Notwithstanding anything to If any Rent payment date (including the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 calendar period which is shorter than one month, then Tenant shall pay to Landlord the prorated Base Rent for any fractional month shall accrue on a daily basis for the period from the date such partial payment is due to the end of such calendar month on or to the day immediately following the expiration end of the Subsequent Abatement Period Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. It is intended that this Lease be a “triple net lease,” and that the prepaid Base Rent delivered to be paid hereunder by Tenant pursuant to this first sentence of this Section 3(a) shall will be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to received by Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at without any time to a▇▇▇▇deduction or offset whatsoever by Tenant, reduceforeseeable or unforeseeable, or set-off any Rent (except as defined in Section 5) due hereunder except for any abatement as may be otherwise expressly provided in this Lease. Notwithstanding anything Except as expressly provided to the contrary contained hereinin this Lease, so long as Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises or the Project. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Notwithstanding the foregoing, provided Tenant is not then in Default under this Lease, Tenant shall not be required Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay Base Rent during the Base Rent Abatement Period (such total amount of abated Base Rent in the total amount of $1,111,347.90 (i.e., $74,089.86 per month for 15 months) being hereinafter referred to as the “Abated Base Rent”) (the Abated Base Rent, Abated Parking Charges [as defined in Section 8 of the Summary], Abated Fitness Center Charges [as defined in Section 29.39 below], Abated Conference Room Charges [as defined in Section 29.40 below], and Applied Allowance [as defined in the Tenant Work Letter] are collectively referred to herein as the “Abated Amount”). During the Base Rent Abatement Period, Tenant will still be responsible for the period commencing payment of all other monetary obligations under this Lease. Tenant acknowledges that any Default under this Lease will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult and impracticable to ascertain, therefore, should Tenant at any time during the Lease Term be in Default under this Lease, then the total unamortized sum of such Abated Amount (amortized on a straight line basis over of the Rent Commencement Date through last 120 months of the initial Lease Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord and any remaining Abated Amount shall no longer be available to Tenant as a rent credit from the date of such Default. Tenant acknowledges and agrees that nothing in this Article 3 is 365 days after intended to limit any other remedies available to Landlord at law or in equity under applicable Laws (including, without limitation, the Rent Commencement Date remedies Under California Civil Code Section 1951.2 and/or 1951.4 and any successor statutes or similar laws) in the event of a Default under this Lease. Notwithstanding the foregoing, Landlord shall have the option to make a cash payment (the “Subsequent Abatement PeriodBuyout Payment”) to Tenant in the amount of the then remaining Abated Base Rent due under the immediately preceding paragraph, and/or any unused Allowance which may be applied pursuant to Section 5(f) of the Tenant Work Letter (i.e., the Applied Allowance, subject to the Outside Allowance Date). Tenant shall commence paying full Base Rent on the day immediately following the expiration Upon Landlord’s tender of the Subsequent Abatement Period. For the avoidance of doubtsuch Buyout Payment, Tenant shall no longer be required entitled to pay Operating Expenses the Abated Base Rent and/or any available Applied Allowance. Landlord shall exercise its option to buy out the Abated Base Rent and/or Applied Allowance by delivering at least ten (10) days’ prior written notice thereof to Tenant, and all other amounts payable under shall make the Lease during Buyout Payment to Tenant on or about the Subsequent Abatement Perioddate set forth in such notice.
Appears in 1 contract
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease pay to Landlord, Landlord the Base Rent due set forth in the Basic Lease Information in equal monthly installments for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (orapplicable Lease Year, if such date does not occur without prior notice or demand, on the first day of a each and every calendar monthmonth during the Term, except that Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, is payable in lawful currency of the United States of America, cash shall be paid sixty (60) days prior to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to Scheduled Commencement Date of this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Lease and Base Rent for any fractional calendar partial month at the beginning of the Term shall be proratedpaid on the Commencement Date. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such any partial month at the beginning or end of the Term shall be prorated based on the day immediately following actual number of days in the expiration month. Notwithstanding the foregoing, if Tenant, with Landlord's written permission (which shall not be unreasonably withheld), actually commences occupancy and in good faith commences to conduct its business in any portion of the Subsequent Abatement Period and the prepaid Premises for any continuous period prior to December 1, 2001, Tenant shall owe no Base Rent delivered by Tenant pursuant for any period of such occupancy occurring prior to this first sentence such date. Furthermore, Base Rent in an amount equal to the Base Rent payable for 5,000 rentable square feet of this Section 3(a) the Premises at the applicable rate set forth in the Basic Lease Information shall be applied conditionally deferred for the first Lease Year, and Base Rent in an amount equal to the first full calendar month following the expiration Base Rent payable for 2,500 rentable square feet of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and Premises at the obligations of Landlord under this applicable rate set forth in the Basic Lease are independent obligations. Tenant Information shall have no right at any time to a▇▇▇▇be conditionally deferred for the second Lease Year, reduce, or set-off any Rent (as defined but in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, each case only so long as Tenant is has not then created a monetary default resulting in an Event of Default under for a period greater than thirty (30) days during the Initial Term of this Lease, Tenant shall not be required to pay . Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required increased above the foregoing amounts if and to pay Operating Expenses and all other amounts payable under the Lease during extent the Subsequent Abatement Periodconditions set forth in Paragraph 5 of Exhibit B respecting costs for certain Upgraded Improvements (as defined therein) are paid by Landlord to or on behalf of Tenant.
Appears in 1 contract
Sources: Lease Agreement (Riddell Sports Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the (a) The Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made be paid by Tenant pursuant under each Lease Supplement shall begin to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing accrue on the Rent Commencement Date through as specified in such Lease Supplement and shall be determined based upon the Pricing Grid attached hereto as Exhibit C. Tenant shall pay Base Rent by wire transfer in accordance with the terms of the Participation Agreement. Tenant shall be supplied with such bank account information as Tenant shall require to enable payment by wire transfer of federal funds. Tenant shall wire transfer to such account in accordance with the terms of the Participation Agreement until notified of any account change. Base Rent payments shall be due and payable in arrears (i) on the last day of each Rental Period selected by Tenant for a Portion (except that, with respect to any Rental Period of six (6), nine (9) or twelve (12) months, Base Rent with respect thereto shall be due and payable at the end of each three (3) month period during such Rental Period or, if such day is not a Business Day, the following Business Day), (ii) on any date on which this Lease shall terminate as to any Parcel, and (iii) on any other date on which all or any portion of the Lease Investment Balance is paid, except that the last installment of Base Rent shall be payable on the last day of the Term (each such date shall be a “Rent Payment Date”), and Base Rent payments shall be made to Landlord and Administrative Agent in accordance with the terms of the Participation Agreement. No sooner than thirty (30) days or later than ten (10) days prior to the due date for any installment of Base Rent hereunder with respect to any Portion, Landlord and Administrative Agent each shall deliver to Tenant notices indicating the exact dollar amount of the Base Rent that is 365 days after the Rent Commencement Date due on such due date to Landlord or Administrative Agent, as applicable, with respect to such Portion (the an “Subsequent Abatement PeriodInvoice”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubtIf either Landlord or Administrative Agent fails to send an Invoice, Tenant shall pay the amount shown on the previous Invoice applicable to such portion from such Entity in accordance with the terms of the Participation Agreement. If Tenant’s payment of the amount shown on the previous Invoice is less than the Base Rent then due such Entity, Tenant shall pay the difference within ten (10) days after receipt of notice from such Entity of such shortfall. If Tenant’s payment of the amount shown on the previous Invoice exceeds the Base Rent then due such Entity, then (provided that no Event of Default has occurred and is continuing), such excess amount shall be credited to the next installment of Base Rent due to such Entity with respect to such Portion.
(b) Tenant may select the number and amounts of the Portions into which the Lease Investment Balance is to be divided and the Rental Period for each such Portion by delivering to Administrative Agent and Landlord, not less than three (3) Business Days prior to the Date of Lease and thereafter the last day of each Rental Period for a Portion and in accordance with Section 21.3, an irrevocable written notice in the form of Exhibit D, appropriately completed (a “Notice of Rental Period Selection”), subject to the following:
(i) No Portion shall combine the Landlord Contribution with any part of the Rent Purchasers’ Contribution.
(ii) Each Portion shall be in a minimum amount of $2,500,000 or an integral multiple of $500,000 in excess thereof (except as otherwise provided below); provided, however, that the total number of Portions outstanding at any time shall not exceed eight (8) with respect to the Rent Purchasers’ Contribution and three (3) with respect to the Landlord Contribution (and, in the case of both the Rent Purchasers’ Contribution and the Landlord Contribution, one such Portion may be in the amount of the remaining balance of the Rent Purchasers’ Contribution or the Landlord Contribution, as the case may be, if such balance is less than $2,500,000 or is not an integral multiple of $500,000).
(iii) The initial and each subsequent Rental Period selected by Tenant for each Portion shall be one (1), two (2), three (3), six (6), nine (9) or twelve (12) months; provided, however, that (A) each Rental Period shall begin and end on the eleventh (11th) day of the month or, if such day is not a Business Day, on the next following Business Day; (B) no Rental Period shall end after the Expiration Date; (C) no Rental Period shall be longer than one (1) month if a Default has occurred and is continuing at the time the Notice of Rental Period Selection is required to pay Operating Expenses be delivered in accordance with this Section 7.1(b); and all other amounts payable under the Lease during the Subsequent Abatement Period(D) each Rental Period for which Tenant fails to make a selection by delivering a Notice of Rental Period Selection in accordance with this Section 7.1(b) shall be deemed to be one (1) month.
Appears in 1 contract
Sources: Master Lease of Land and Improvements (Adobe Systems Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord rent (herein called "Base Rent") 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodarrears, in lawful 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 physical address designated 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 by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) any other Applicable Purchaser purchases Landlord's interest in the Leased Property pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63Purchase Agreement, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of any Base Rent for any fractional calendar month the Base Rent Period 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 prorated. Notwithstanding anything due on the Designated Sale Date in addition to the contrary contained herein, if purchase price and other sums due Landlord under the expiration of Purchase Agreement. The Base Rent for each Base Rent Period shall equal the Subsequent Abatement Period occurs sum of:
(1) (A) Stipulated Loss Value on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated such Base Rent Period, times (B) the Collateral Percentage for such partial month Base Rent Period, times (C) twenty two and one-half basis points (0.225 of 1%), times (D) the number of days in such Base Rent Period, divided by (E) three hundred sixty (360); PLUS
(A) Stipulated Loss Value on the first day immediately following the expiration of the Subsequent Abatement Period and the prepaid such Base Rent delivered Period, times (B) one minus the Collateral Percentage for such Base Rent Period, times (C) the Effective Rate for such Base Rent Period, times (D) the number of days in such Base Rent Period, divided by Tenant pursuant to this first sentence (E) three hundred sixty (360). Assume, only for the purpose of this Section 3(aillustration: that a hypothetical Base Rent Period contains exactly ninety (90) shall be applied days; that prior to the first full calendar month following the expiration day of the Subsequent Abatement Period. The obligation of Tenant to pay such Base Rent Period a total of $31,500,000 of Qualified Payments have been received by Landlord, leaving a Stipulated Loss Value of $30,000,000 (the Initial Funding Advance of $61,500,000 less the Qualified Payments of $31,500,000); that the Collateral Percentage for such Base Rent Period is forty percent (40%); and other sums to Landlord and that the obligations of Landlord under this Lease are independent obligationsEffective Rate for the applicable Base Rent Period is 6%. Tenant shall have no right at any time to a▇▇▇▇Under such assumptions, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full hypothetical Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubtPeriod will equal: $30,000,000 x 60% x 6% x 90/360, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.or $270,000, PLUS $30,000,000 x 40% x .225% x 90/360, or $6,750 = $276,750
Appears in 1 contract
Sources: Lease Agreement (Informix Corp)
Base Rent. Tenant shall deliver 2.01 In addition to Landlord, concurrent with T▇▇▇▇▇Tenant’s delivery of an executed copy of this Lease obligation to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, pay Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Original Premises, Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before for the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Expansion Space as follows: Expansion Effective Date – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Expansion Space Termination Date $ 46.00 $ 80,599.67 Base Rent for any fractional calendar month partial month, if any, shall be prorated. All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.
2.02 Notwithstanding anything in this Section to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 hereincontrary, so long as Tenant is not then in Default under this LeaseDefault, Tenant shall not be required entitled to pay an abatement of Base Rent in the amount of (a) $80,599.67 per month for the period commencing on the Rent Commencement Expansion Effective Date and continuing through the date that (the “Expansion Space Trigger Date”) which is 365 days after the Rent Commencement earlier to occur of (i) June 1, 2015, and (ii) the date Tenant takes occupancy of the Expansion Space and commences to conduct Tenant’s usual and customary business therein, (b) $53,766.34 per month for the period beginning on the Expansion Space Trigger Date and ending on the last day of the 6th full calendar month following the Expansion Space Trigger Date, and (c) $26,933.00 per month for the period commencing on the first day of the 7th full calendar month following the Expansion Space Trigger Date and ending on the Expansion Space Termination Date (the “Subsequent Base Rent Abatement Period”). Tenant shall commence paying full The amount of Base Rent abated during the Base Rent Abatement Period shall herein be referred to as the “Abated Base Rent”. The balance of the monthly installments of Base Rent payable for (i) the period commencing on the Expansion Space Trigger Date and ending on the last day immediately of the 6th full calendar month following the expiration Expansion Space Trigger Date (i.e., $26,833.33 per month) and (ii) the period commencing on the first day of the Subsequent Abatement Period. For 7th full calendar month following the avoidance of doubtExpansion Space Trigger Date and ending on the Expansion Space Termination Date (i.e., Tenant $53,666.67 per month) (each, a “Remaining Monthly Balance”) shall be required to pay Operating Expenses and all other amounts payable under in accordance with the Lease during terms of the Subsequent Abatement PeriodLease.
Appears in 1 contract
Sources: Office Lease Agreement (Rapid7 Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). A. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-set off, monthly installments except as provided in Section 55 and Section 14 of this Lease Agreement, a sum (the “Base Rent”) equal to the amounts for the corresponding intervals as indicated on Schedule 1 attached hereto.
B. Installments of Base Rent shall be due monthly, in advance, on or before the first day of each calendar month during following the Term hereof after Rent Commencement Date. Base Rent for the expiration of month in which the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of Rent Commencement Date occurs shall be due and payable on the United States of America, Rent Commencement Date and Base Rent for any partial month shall be prorated.
C. In addition to the physical address designated by Landlord or by federally insured electronic fund transfer foregoing Base Rent and the Additional Rent (“EFT”as hereinafter defined) 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 be paid by Tenant pursuant to this Section 3(a6 below, Tenant agrees to pay to Landlord as Additional Rent all other sums payable by Tenant to Landlord hereunder, within ten (10) must include days after Landlord renders a reference statement therefor to ARE-San Francisco NoTenant. 63, LLC All Rent (as well as hereinafter defined) shall bear interest from five (5) days after the address date due until paid at the greater of (i) two percent (2%) above the “prime rate” per annum of the Building JPMorgan Chase Bank, a New York banking corporation or its successor or such other “money center” as Landlord and Tenant may agree from time to time (i.e.“Chase”) in effect on said due date (or if the “prime rate” be discontinued, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)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; 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 applicable Laws. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinIn addition thereto, if Tenant has failed to pay Rent within five (5) days after the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar monthdate when due, then then, Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration a “Late Charge” of one percent (1%) of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Leaseoverdue amount. Notwithstanding anything the foregoing, with respect to the contrary contained herein, so long as Tenant is not then Tenant’s first late payment of Rent in Default under this Leasea consecutive twelve (12) month period, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”)Late Charge with respect to such late payment. Tenant shall commence paying full Base Rent on agrees that the day immediately following the expiration Late Charge is not a penalty, and will compensate Landlord for costs not contemplated under this Lease Agreement that are impracticable or extremely difficult to fix. Landlord’s acceptance of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Perioda Late Charge does not waive Tenant’s default.
Appears in 1 contract
Sources: Build to Suit Lease Agreement (Cardiovascular Systems Inc)
Base Rent. Tenant 3.1 In GeneralTenant shall deliver pay, without prior notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, agent at the Base Rent due for the calendar month in which the day immediately following the expiration management office of the Subsequent Abatement Period occurs (Project, or, if at Landlord’s option, at such date does not occur on other place as Landlord may from time to time designate in writing, by a check for currency which, at the first day time of a calendar monthpayment, is legal tender for private or public debts in the United States of America, base rent (“Base Rent for the first full calendar month following the date Rent”) as set forth in which the day immediately following the expiration Section 4 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, payable in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 4 of Base Rent 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 as may otherwise expressly permitted under this Lease). In the event that any invoice prepared by Landlord is inaccurate, such inaccuracy shall not constitute a waiver and Tenant shall be obligated to pay the amount set forth in this Lease. Acceptance of a payment which is less than the amount then due shall not be a waiver of Landlord’s rights to the balance of such Rent, regardless of Landlord’s endorsement of any check so stating. Payments will be applied first to accrued late charges, second to accrued interest as set forth in this Lease, then to Base Rent and Tenant’s Share of Direct Expenses, and any remaining amount to any other outstanding charges or costs. The Base Rent for the first full month of the Lease Term hereof which occurs after the expiration of any “free rent” period shall be paid at the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodtime of Tenant’s execution of this Lease. If any payment of Rent is for a period which is shorter than one month, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any such fractional calendar month shall be prorated. Notwithstanding anything accrue on a daily basis during such fractional month and shall total an amount equal to the contrary contained hereinproduct of (i) a fraction, if 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 payments or adjustments required to be made under the TCCs of this Lease that require proration on a time basis shall be prorated on the same basis. Without limitation on other obligations of Tenant which shall survive the expiration of the Subsequent Abatement Period occurs on a day other than Lease Term, the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation obligations of Tenant to pay the Base Rent and other sums to Landlord and during the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (Term as defined in Section 5) due hereunder except provided for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant Article 3 shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following survive the expiration and sooner termination of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodTerm.
Appears in 1 contract
Sources: Lease (Athira Pharma, Inc.)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). a) Tenant shall pay to Landlord monthly installments of Base Rent in advance, without demand, abatement, deduction or set-offoffset, monthly installments of Base Rent throughout the Lease Term on or before the first day of each and every calendar month during the Term hereof after the expiration month. Installments of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Base Rent for partial calendar months shall be prorated. Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodshall be responsible for delivering all installments of Base Rent due hereunder to Landlord’s address set forth in Section 1.01 above, in lawful currency of the United States of America, to the physical or any other address as may be designated by Landlord or by federally insured electronic fund transfer from time to time. The monthly installment of the Base Rent and estimated Operating Expenses (“EFT”hereinafter defined) via wirefor the first (1st) full month of the initial Lease Term shall be paid at the time of Tenant’s execution of this Lease.
(b) Notwithstanding any contrary provisions set forth in this Article 3 and Section 1.01(a) above, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant Tenant shall not be obligated to pay the instructions provided by Landlord to Tenant monthly installments of Base Rent (the “EFT Payment InstructionsBase Rent Abatement”) for the three (3) month period commencing on the first (1st) full calendar month of the Lease Term, and ending on the last day of the third (3rd) full calendar month of Lease Term (the “Abatement Period”). All EFT payments made by In connection with the foregoing, the Base Rent Abatement provided to Tenant pursuant to this Section 3(a3.01(b) must include a reference to ARE-San Francisco Noduring the Base Rent Abatement Period shall not exceed an aggregate of $345,975.48. 63Tenant acknowledges and agrees that during such Base Rent Abatement Period, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments such abatement of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month have no effect on the day immediately following the expiration calculation of the Subsequent Abatement Period and the prepaid Base Rent delivered any Operating Expenses payable by Tenant pursuant to this first sentence the terms of this Section 3(a) Lease, which any Operating Expenses shall be applied payable during the Base Rent Abatement Period without regard to the first full calendar month following Base Rent Abatement. Additionally, notwithstanding the expiration of foregoing, Tenant shall remain and be obligated to pay during the Subsequent Base Rent Abatement PeriodPeriod all “Additional Rent,” as that term is defined in Section 3.02 below. The obligation of foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay Base Rent the rent and other sums to Landlord performing the terms and the obligations of Landlord conditions otherwise required under this Lease. If Tenant shall be in default under this Lease are independent obligations. Tenant shall have no right at any time during the Lease Term, and shall fail to a▇▇▇▇cure such default within the applicable notice and cure period, reduceif any, or set-off any Rent (as defined in permitted for cure pursuant to Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under 13.01 of this Lease, Tenant shall not be required to pay and as a result of such default, Landlord terminates this Lease, then the unamortized portion of the Base Rent for Abatement granted to Tenant pursuant to this Section 3.01(b) may be considered when determining the period commencing on remedies available to Landlord pursuant to the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration terms of the Subsequent Abatement Period. For the avoidance Article 13 of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodthis Lease.
Appears in 1 contract
Sources: Industrial Building Lease (Real Good Food Company, Inc.)
Base Rent. Tenant Commencing on the Commencement Date, and on the first of every month thereafter, the Lessee shall deliver pay to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Lessor the Base Rent due (collectively with all Additional Rent, as defined below, and other charges the "Rent"), without set-off or deduction of any kind whatsoever, except as specifically permitted herein, prorated for any partial month or year. Other charges payable by the calendar month in which Lessee on a monthly basis shall be similarly prorated. Base Rent shall be paid monthly as follows, with the first month's Base Rent paid at the Commencement Date. During the period beginning on the Commencement Date and ending on the day immediately following prior to the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar monthFull Occupancy Date, Base Rent for shall be comprised of two components, "Square Footage Base Rent" and "Interest Base Rent." During the first full calendar month following period beginning on the date in which Commencement Date and ending on the day immediately following prior to the expiration Fully Available Date, Square Footage Base Rent shall be $13,562.00 per month ($8.75 per square foot per annum on the Initial Occupancy Space), and Interest Base Rent shall be $11,667.00 per month. During the period commencing on the Fully Available Date and ending on the date immediately prior to the Full Occupancy Date, Square Footage Base Rent shall be $13,562.00 per month, and Interest Base Rent shall be $21,173.00 per month. Square Footage Base Rent and Interest Base Rent shall be paid on a monthly basis as described in the immediately preceding paragraph. If at any time after the Commencement Date and prior to the Full Occupancy Date the Lessee begins to occupy more of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advancePremises than the Initial Occupancy Space for its business purposes, without demand, abatement, deduction or set-off, monthly installments of Square Footage Base Rent on or before shall be increased at the first day rate of $8.75 per square foot per annum for each calendar month during additional square foot so occupied, and Interest Base Rent shall be reduced to the Term hereof after amount which results by multiplying the expiration applicable figure above by a fraction, the numerator of which shall be the square feet of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodPremises not occupied by the Lessee for its business purposes, in lawful currency and the denominator of which shall be 60,600. From the Full Occupancy Date to the third anniversary of the United States of AmericaFull Occupancy Date, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day Full Occupancy Date is other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial third anniversary of the first day of the month on the day immediately following the expiration Full Occupancy Date: $752,400.00 per annum, payable in equal monthly installments of $62,700.00 in advance on the first day of each month. From the third anniversary of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied Full Occupancy Date to the first full calendar month following the expiration seventh anniversary of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduceFull Occupancy Date, 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 if the Full Occupancy Date is other than the first day of a month, to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for seventh anniversary of the period commencing on first day of the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day month immediately following the expiration Full Occupancy Date: $732,600.00 per annum, payable in equal monthly installments of $61,050.00 in advance, on the first day of each month. From the seventh anniversary of the Subsequent Abatement Period. For Full Occupancy Date to the avoidance tenth anniversary of doubtthe Full Occupancy Date, Tenant shall be required or if the Full Occupancy Date is other than the first day of a month, to pay Operating Expenses and all other amounts the tenth anniversary of the first day of the month immediately following the Full Occupancy Date: $772,200.00 per annum, payable under in equal monthly installments of $64,350.00 in advance, on the Lease during the Subsequent Abatement Periodfirst day of each month.
Appears in 1 contract
Sources: Lease (Abiomed Inc)
Base Rent. 3.1 Tenant shall deliver pay, without prior notice or demand, at such 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 Linked States of America or pursuant to wire or electronic payment instructions provided by Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the base rent (“Base Rent due for the calendar month Rent”) as set forth in which the day immediately following the expiration Section 4 of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date Summary payable in which the day immediately following the expiration equal monthly installments as set forth in Section 4 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each and every calendar month during the Term hereof after Lease Term, without any setoff or deduction whatsoever except as expressly set forth in this Lease. Base Rent for the expiration first full month of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, 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. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant Laboratory 8▇▇ ▇▇▇▇assumes the risk of the foregoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary. Tenant hereby acknowledges and agrees that it has been represented by counsel of its choice and has participated fully in the negotiation of this Lease, that ▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodunderstands that the remedies available to Tenant in the event of a default by Landlord may be more limited than those that would otherwise be available to Tenant under the common law in the absence of certain provisions of this Lease, in lawful currency of and that the United States of America, so-called “dependent covenants” rule as developed under the common law shall not apply to this Lease or to the physical address designated by relationship of Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇and ▇▇▇▇▇▇ ▇▇created hereunder.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Lease (Gazelle Parent, Inc.)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord at the office of Landlord set forth above, or at such other place as Landlord may from time to time designate in advancewriting, the annual sum stated in EXHIBIT B attached hereto (such annual sum being hereinafter referred to as "BASE RENT") in equal monthly installments, each in advance on or before the first (1st) day of each and every calendar month during the Term, without demand, abatement, deduction or any set-offoff or deduction whatsoever. Notwithstanding the foregoing, the annual Base Rent shall be increased in the amounts and at the times set forth on EXHIBIT B and the monthly installments of Base Rent shall be increased accordingly. If the Term commences other than on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”1st) 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month or ends other than on the last day of the calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month shall be prorated (with payment for the fractional month at the start of the Term being due on the day immediately following date the expiration of Term commences in a pro rated amount equal to the Subsequent Abatement Period sum set forth for month one (1) and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(awith month one (1) shall be applied as provided in EXHIBIT B referring to the first full calendar month following the expiration of the Subsequent Abatement Periodmonth). The obligation of Tenant to pay Base Rent and other sums hereby delivers to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Prepaid Base Rent (as defined in Section EXHIBIT B attached hereto) to be held by Landlord and applied towards the fourth, sixth and eighth installments of Base Rent payable under this Lease (except as otherwise provided in EXHIBIT B). If any payment or installment of "Rent" (as defined below) shall not be received by Landlord within five (5) days of the date due hereunder except for any abatement as may be expressly provided then, in this Lease. Notwithstanding anything addition to the contrary contained herein, so long as Tenant all other rights and remedies to which Landlord is not then in Default under this Leaseentitled, Tenant shall not also be required responsible for and shall immediately pay Landlord, as Additional Rent, a service charge equal to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date greater of (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.i) a sum
Appears in 1 contract
Sources: Lease (Comprehensive Care Corp)
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease pay to Landlord, Landlord the Base Rent due for set forth in the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (orBasic Lease Information, if such date does not occur without prior notice or demand, on the first day of a each and every calendar monthmonth during the Term, except that Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodis payable shall be paid prior to February 1, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of 2017 and Base Rent for any fractional calendar partial month at the beginning of the Term shall be proratedpaid on the Commencement Date. Base Rent for any partial month at the beginning or end of the Term shall be prorated based on the actual number of days in the month. Notwithstanding anything in this Lease to the contrary contained contrary, so long as no Event of Default (as defined in Section 15.1 below) then exists, Tenant shall be entitled to an abatement of Base Rent with respect to the Premises in the monthly amount of $445,280.35 for the first six (6) full months of the initial Term (the “Rent Abatement Period“). The maximum total amount of Base Rent abated with respect to the Premises in accordance with the foregoing shall equal $2,671,682.10 (the “Abated Base Rent“). If an Event of Default occurs at any time during the Rent Abatement Period, 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 Event of Default) until Tenant has cured the same, and at such time Tenant shall be entitled to receive any unapplied Abated Base Rent until fully applied. Only Base Rent shall be abated pursuant to this Section, as more particularly described herein, if and Tenant’s Share of Operating Costs and Taxes and all other Rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the expiration provisions of this Lease. If the Basic Lease Information provides for any change in Base Rent by reference to years or months (without specifying particular dates), the change will take effect on the applicable annual or monthly anniversary of the Subsequent Abatement Period occurs on a day other than Commencement Date (which might not be the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Lease Agreement (FireEye, Inc.)
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month in replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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. In the event of nonpayment of any Rent, Landlord shall be entitled to exercise all such rights and remedies as are herein provided in advance, without demand, abatement, deduction or set-off, monthly installments the case of the nonpayment of Base Rent and Additional Rent. Any such payments shall be paid concurrently with the payments of the Rent on which the tax is based. The Base Rent and Additional Rent for each calendar year or before 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 hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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. If Tenant fails to timely pay any two (2) installments of rent in any twelve-month period, Landlord at its sole option may require Tenant to pay rent (as estimated by Landlord, if necessary) quarterly in advance for the 12-month period following such second failure. All amounts received by Landlord from Tenant pursuant to this first sentence of this Section 3(a) 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 within thirty (30) 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 installment of Base Rent and Additional Rent or any other item of Rent within ten (10) days of 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; provided, however, that no Late Charge shall apply to the first full late payment in any calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under year during the Lease during the Subsequent Abatement PeriodTerm.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy pay Base Rent in the amount set forth on Page 1 of this Lease to LandlordLease. 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 such Base Rent and Operating Expenses payments shall be applied to the first full month’s rental due for the calendar month in which the day immediately following after the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date free rent period set forth in which the day immediately following the expiration of the Subsequent Abatement Period occurs)Addendum One. Tenant shall promises to 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 succeeding the Term hereof after Commencement Date in accordance with the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, rent scheduled set forth in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Addendum One. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for hereunder (or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant other party as Landlord may from time to this first sentence of this Section 3(atime specify in writing) shall be applied made by check or by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Pacific Time at such place, within the continental United States, as Landlord may from time to the first full calendar month following the expiration of the Subsequent Abatement Periodtime designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as expressly provided in this Lease, Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) rent due hereunder except for any abatement as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum, provided the first late charge in any 12 month period shall be waived by Landlord. The provision for such late charge shall be in addition to all of Landlord’s other rights and remedies hereunder or at law and shall not be construed as a penalty. Notwithstanding the foregoing, the parties anticipate that Landlord will be able to Substantially Complete certain portions of the Warehouse Initial Improvements in phases (the “Phased Space”) for delivery to Tenant in such a condition that Tenant can commence business operations within such Phased Space and prior to the completion of the Office Initial Improvements. Plans depicting each Phased Space of the Warehouse Space are attached hereto as Exhibits A-1 and A-2. Tenant shall be permitted to attend all weekly project meetings and Landlord shall use commercially reasonable efforts to advise Tenant of a change in the regular schedule of the same. At least five (5) business days prior to delivery of any such Phased Space Landlord shall notify Tenant in writing of Landlord’s intention to deliver such Phased Space. Upon delivery of the Phased Space Tenant shall pay Base Rent and Operating Expenses on a proportionate basis for such Phased Space, using the Base Rent amount of $[***] per square foot per month and prorated Operating Expenses applicable to such Phased Space. During any such phased occupancy of Phased Space prior to the Commencement Date Tenant shall be bound by its obligations under the Lease, including the obligation to provide evidence of insurance. The delivery of any Phased Space, and Tenant’s acceptance of any Phased Space, shall not affect the Commencement Date, which shall not be deemed to occur until Substantial Completion of the Warehouse Initial Improvements (as defined in Addendum 5), excluding the Building Upgrades. Upon Substantial Completion of the Warehouse Initial Improvements, the Commencement Date shall be deemed to occur and Tenant shall commence payment of Base Rent for the Warehouse Space in accordance with the Base Rent schedule set forth in Addendum 1. Tenant’s obligation to commence payment of Base Rent with respect to the Office Space shall commence upon Substantial Completion of the Office Initial Improvements (and the free rent period applicable to the Office Space shall also commence on such Substantial Completion such that Tenant will receive the full value of the Base Rent abatement (which variable amount depending on Tenant’s closing on Series E funding is shown on Addendum 1), subject to Tenant’s funding pursuant to Addendum 1, where it shall be offset against Tenant’s Base Rent obligation as it becomes due upon delivery of the Premises), Notwithstanding anything to the contrary contained herein, so long Substantial Completion of the Creative Space Improvements and the Building Upgrades (as Tenant each term is defined in Addendum 5) is not then in Default under this Leasea condition for the obligation to commence payment of Base Rent and Operating Expenses, and Tenant acknowledges that the Creative Space Improvements and the Building Upgrades will not be Substantially Completed prior to the Commencement Date, and shall not be required to pay affect the Term of the Lease. Base Rent and Operating Expense obligations for the period commencing on portion of the Rent Commencement Date through Warehouse Space that includes the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant Creative Space Improvements shall commence paying full Base Rent on as soon as the day immediately following Office Initial Improvements have been Substantially Completed, regardless of whether the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses Creative Space Improvements and all other amounts payable under the Lease during the Subsequent Abatement PeriodBuilding Upgrades are Substantially Complete.
Appears in 1 contract
Sources: Lease Agreement (TheRealReal, Inc.)
Base Rent. (a) From the Effective Date and running through the day prior to the Rent Commencement Date, Tenant shall deliver occupy the Premises without payment of rent, including Base Rent, Percentage Rent and Additional Rent but otherwise subject to Landlord, concurrent with T▇▇▇▇▇’s delivery all of an executed copy the terms and conditions of this Lease to LandlordLease. During such time period, the Base Rent due Landlord shall be responsible for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (orpaying all Impositions and fees and/or charges coming due, if such date does not occur on any. Commencing upon the first day of a calendar monthRent Commencement Date, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodagrees to pay Landlord, in lawful currency of the United States of Americawithout prior demand therefor, to the physical address designated by Landlord and without set-off or by federally insured electronic fund transfer (“EFT”) via wirededuction, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant an annual base rent (the “EFT Payment Instructions”"Base Rent") of Ninety- nine Thousand Dollars ($99,000.00). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as for the address of first full Calendar Year after the Building (i.e.Rent Commencement Date, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of the annual Base Rent for any fractional calendar month shall be proratedNinety-nine Thousand Dollars ($99,000.00), payable in advance in equal monthly installments. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than Rent Commencement Date is not the first day of a calendar monthCalendar Year, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay annual Base Rent for the period of time commencing on the Rent Commencement Date through and ending at the date that end of such partial Calendar Year shall be pro-rated on the basis of the number of days from the commencement of such calendar year to and including the end of such partial Calendar Year bears to 365. (By way of clarity, if the Rent Commencement Date is 365 days not January 1st of a Calendar Year, then the one (1) year period referenced herein will contain the previous partial calendar year plus the following full Calendar Year). Commencing with the beginning of the second full Calendar Year after the Rent Commencement Date (and continuing for each and every Calendar Year thereafter throughout the “Subsequent Abatement Period”). Tenant shall commence paying full Term and all extensions thereof, the Base Rent on shall be increased will increase by a fixed two and one-half percent (2.5%) over the day Base Rent for the immediately following the expiration prior Calendar Year. An example of the Subsequent Abatement Period. For the avoidance calculation of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodBase Rent is attached as Exhibit "I".
Appears in 1 contract
Sources: Ground Lease Agreement
Base Rent. (a) Tenant shall deliver pay base rent (the “Base Rent”) to Landlord, concurrent with T▇▇▇▇▇’s delivery Landlord (i) at the rate of an executed copy of this Lease to Landlord, the Base Rent due $1,086,000.00 per year for the period from the date (the “Rent Commencement Date”) that is the later of (A) the one hundred fifty-first (151st) calendar month in which day after the Completion Date applicable to all of the items of Landlord’s Initial Work other than the Initial AC Work or (B) November 1, 1998, to and including the day immediately following preceding the expiration fifth (5th) anniversary of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date Commencement Date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, equal monthly installments of $90,500.00 and (ii) at the rate of $1,248,900.00 per year for the period from the fifth (5th) anniversary of the Rent Commencement Date to and including the Term Expiration Date in equal monthly installments of $104,075.00. The Base Rent provided in this Section 2.02 shall be subject to adjustment as set forth in Section 11.01(a)(ii)(B) hereof.
(b) Base Rent shall be payable by Tenant in advance on or before the Rent Commencement Date and on the first day of each calendar month during thereafter (appropriately prorated in the Term hereof after the expiration case of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, first installment if the expiration of the Subsequent Abatement Period occurs on a day other than Rent Commencement Date is not the first day of a calendar month or the last installment if the Term Expiration Date is not the last day of a calendar month); except that, then upon the execution of this Lease, Tenant shall pay to Landlord $90,500.00 on account of the prorated first installment of Base Rent for such partial month on the day immediately following the expiration becoming due hereunder.
(c) If any of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent additional rent (as defined in Section 52.06 hereof) due hereunder except for payable under this Lease shall be or become uncollectible, reduced or required to be refunded because of any abatement Legal Requirement, Tenant shall enter into such agreements and take such other steps (without additional expense to Tenant) as Landlord may reasonably request and as may be expressly provided legally permissible to permit Landlord to collect the maximum rents which from time to time during the continuance of such legal rent restriction may be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Notwithstanding anything Upon the termination of such legal rent restriction, (i) the Base Rent and additional rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination and (ii) Tenant shall pay to Landlord, to the contrary contained hereinmaximum extent legally permissible, so long as an amount equal to (A) the Base Rent and additional rent which would have been paid pursuant to this Lease but for such legal rent restriction, less (B) the rents and payments in lieu of rents paid by Tenant during the period such legal restriction was in effect.
(d) Provided that Tenant is not then in Default under default of this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following Lease beyond the expiration of the Subsequent Abatement Period. For the avoidance of doubtall applicable grace and cure periods, Tenant shall be required entitled to pay Operating Expenses and all other amounts payable under receive a credit against Base Rent accruing hereunder in the Lease during sum of $106,903.12 to be applied against the Subsequent Abatement Periodfirst installments of Base Rent accruing hereunder.
Appears in 1 contract
Sources: Lease (Digitas Inc)
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month in replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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 pursuant to this first sentence of this Section 3(a) hereunder shall be applied first to the first full calendar month following the expiration of the Subsequent Abatement Periodearliest accrued and unpaid Rent then outstanding. The obligation of Tenant 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 sums item of Rent when due and payable hereunder, a “Late Charge” equal to Landlord five percent (5%) of such unpaid amount will be due and the obligations of Landlord under this Lease are independent obligations. payable immediately by Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodLandlord.
Appears in 1 contract
Sources: Office Lease
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇pay Base Rent in the amount set forth above. The first month’s delivery of an executed copy of this Lease to LandlordBase Rent, the Base Rent Security Deposit, and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur and payable on the first day of a calendar monthdate hereof, Base Rent for the first full calendar month following the date and, except as otherwise set forth in which the day immediately following the expiration of the Subsequent Abatement Period occurs). this Lease, Tenant shall promises to 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 succeeding the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Commencement Date. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for hereunder (or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant other party as Landlord may from time to this first sentence of this Section 3(atime specify in writing) shall be applied 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 first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) rent due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as If Tenant is not then delinquent in Default under this Leaseany monthly installment of Base Rent or of estimated Operating Expenses for more than 5 days, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be 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, that Landlord shall not be required to pay Base Rent for give such notices more than twice in any calendar year or 4 times over the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration term of the Subsequent Abatement PeriodLease. For the avoidance of doubt, Tenant The provision for such late charge shall be required in addition to pay Operating Expenses all of Landlord’s other rights and all other amounts payable under the Lease during the Subsequent Abatement Periodremedies hereunder or at law and shall not be construed as a penalty.
Appears in 1 contract
Base Rent. Tenant shall deliver Commencing on the Rent Commencement Date, and subject to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy any offsets and abatements authorized by Section 4 or Section 5 of this Lease Lease, Tenant promises to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-set- off, monthly installments of Base Rent on or before the first day of each calendar month during succeeding the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Rent Commencement Date. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) hereunder shall be applied payable at such address as Landlord may specify from time to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligationstime by written notice delivered in accordance herewith. Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (rent due hereunder, except following Tenant's receipt of a money judgment by Tenant against Landlord and except as defined in provided by Section 5. If Tenant fails to pay any monthly installment of Base Rent, additional rent or other sums payable by Tenant to Landlord hereunder within five (5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as working days after Landlord's service of written notice on Tenant that same is not then in Default under this Leasepast 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 required obligated to pay Base Rent for deliver more than two (2) written notices of late payment in any twelve (12) consecutive month period as a condition precedent to the period commencing on imposition of a late charge. After the Rent Commencement Date through delivery of the two (2) notices in any twelve (12) consecutive month period, any installment of rent shall be late if not received by the date that same is 365 due without further notice or demand. The provision for such late charge shall be in addition to all of Landlord's other rights and remedies hereunder or at law and shall not be construed as a penalty. All amounts payable by Tenant to Landlord hereunder which are not paid within sixty (60) days after the Rent Commencement Date date due shall accrue interest at the rate of interest from time to time announced by Bank of America (San Francisco Headquarters branch) as its "prime" or "reference" plus four percent (4%) per annum (not to exceed the “Subsequent Abatement Period”maximum amount permitted by law). Tenant , which interest shall commence paying full Base Rent on to accrue sixty (60) days after the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Perioddate same was due.
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Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, equal monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodRent Commencement Date, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco MA Region No. 6377, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.▇▇▇▇, Watertown, MA). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period Rent Commencement Date occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement PeriodCommencement Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, 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 hereinin this Lease, so long as Tenant is not then in Default under the terms of this Lease, Tenant shall not be required to pay Base Rent Lease (i) for the period of time commencing on the Rent Commencement Date through the date that is 365 days after calendar day immediately preceding the first annual anniversary of the Rent Commencement Date (the “Subsequent First Partial Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall only be required to pay Operating Expenses Base Rent for 45,000 rentable square feet of the Premises and all other amounts payable under (ii) for the Lease during period of time commencing on the Subsequent Abatement Period.first annual
Appears in 1 contract
Base Rent. Tenant Base Rent payable for the first full calendar month immediately following the Building 3 Premises Abatement Period (as defined below) and the Security Deposit shall deliver to Landlord, concurrent with T▇▇▇▇▇’s be due and payable on delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatementabatement (except for any abatement as may be expressly provided for in this Lease), 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodhereof, in lawful currency money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to the physical address designated by such other person or at such other place as Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant may from time to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)time designate in writing. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided for in this Lease. Notwithstanding anything to the contrary contained hereinin this Lease, (i) so long as Tenant is not in Default under this Lease, Base Rent payable with respect to the Building 3 Premises only shall be abated for the period commencing on the Commencement Date (or, if the Commencement Date does not occur DocuSign Envelope ID: FC2CC128-9822-4855-A001-C19E6B8CA968 Buildings B3 and B4/Singular - Page 5 on the first day of a calendar month, then as of the first day of the first full calendar month immediately following the Commencement Date) and continuing for the first 210 calendar days following the Commencement Date (the “Building 3 Premises Abatement Period”), and (ii) if Tenant has exercised the Building 4 Premises Acceleration Election, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent payable with respect to the Building 4 Premises only shall be abated for the period commencing on the Rent Building 4 Premises Commencement Date through (or, if the date that is Building 4 Premises Commencement Date does not occur on the first day of a calendar month, then as of the first day of the first full calendar month immediately following the Building 4 Premises Commencement Date) and continuing for the first 365 calendar days after following the Rent Building 4 Premises Commencement Date (the “Subsequent Building 4 Premises Abatement Period”). Tenant shall commence paying full Base Rent with respect to the Building 3 Premises on the calendar day immediately following the expiration of Building 3 Premises Abatement Period (the Subsequent “Rent Commencement Date”) and with respect to the Building 4 Premises on the calendar day following the Building 4 Premises Abatement Period. For the avoidance of doubt, if Tenant does not exercise the Building 4 Premises Acceleration Election, then Tenant shall commence paying Base Rent with respect to the Building 4 Premises on the Building 4 Premises Commencement Date and shall not be required entitled any abatement of Base Rent with respect to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodBuilding 4 Premises.
Appears in 1 contract
Base Rent. Tenant (a) The first month’s Base Rent and Security Deposit shall deliver to Landlord, concurrent with T▇▇▇▇▇’s be due and payable on delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodhereof, in lawful currency money of the United States of America, to at the physical address designated by Landlord office 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of Landlord for payment of Rent set forth above. Notwithstanding the Building foregoing, (i.e.i) Base Rent for months 1 through 6 of the Base Term shall be adjusted to $17,437.50 per month for such 6-month period, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)and (ii) Base Rent for months 7 through 12 of the Base Term shall be adjusted to $34,875.00 per month for such 6-month period; provided that Tenant is not in Default hereunder. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinExcept as expressly provided in this Lease, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent due hereunder. 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 to the first full calendar month after the Rent Commencement Date. Base Rent shall increase to $63,363.73 per month commencing on the first anniversary of the Commencement Date. Commencing on the second anniversary of the Commencement Date, Base Rent shall be increased on each anniversary of the Commencement Date (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 Share of Project Operating Expenses and Tenant’s Percentage Share (Science Facility) of Science Facility Operating Expenses (each as defined in Section 54), and (ii) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything and all other amounts Tenant assumes or agrees to pay under the contrary contained herein, so long as Tenant is not then in Default under provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant shall not or failure to comply with the agreements, terms, covenants and conditions of this Lease to be required performed by Tenant, after any applicable notice and cure period. Tenant’s obligation to pay Base Rent for the period commencing on the and Additional Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the hereunder are collectively referred to herein as “Subsequent Abatement PeriodRent”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy ▇ 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, Landlord at the Base Rent address shown above. One monthly installment of base rent shall be due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur and payable on the first day date of a calendar month, Base Rent execution of this Lease by Tenant for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant month's rent and a like monthly installment shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent be due and payable on or before the first day of each calendar month succeeding the Rent Commencement Date defined below during the Term hereof after the expiration term of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinLease; provided, if the expiration of the Subsequent Abatement Period occurs on Rent Commencement Date should be a day date other than the first day of a calendar month, then 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 pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to Landlord the prorated Base Rent contrary, if Landlord, for such partial month any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the day immediately following Commencement Date, 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 the Subsequent Abatement Period term be extended, but all rent shall be abated until Landlord delivers possession.Such date of delivery of possession shall be the Rent Commencement Date. All base rent, additional rent and the prepaid Base Rent delivered other sums payable by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at payable without demand and without any time to a▇▇▇▇reduction, reduceabatement, counterclaims or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Leasesetoff. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant Lease shall be required null and void at Tenant's option, if Landlord has not delivered possession by July 1, 1997, and in such event, the Security Deposit and first month's rent shall be refunded to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodTenant, in full, within ten (10) days.
Appears in 1 contract
Sources: Lease Agreement (Xata Corp /Mn/)
Base Rent. (a) Tenant shall deliver to Landlordpay, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlordcommencing on the Entire Premises Commencement Date, the Annual Base Rent, as set forth in Exhibit C, to Landlord for the Premises, payable in equal monthly installments in the amount of the Monthly Base Rent due for in advance on the first day of the Term and on the first day of each calendar month in which the day immediately following the expiration thereafter of the Subsequent Abatement Period occurs (or, if such Term. If the Term shall begin on any date does not occur on except the first day of a calendar month, or shall end on any day except the last day of a calendar month, then Monthly Base Rent for the first full any such partial calendar month following within the date Term shall be prorated based on a 30-day month.
(b) Base Rent, Additional Rent (as hereinafter defined), Tax and Expense Estimate (as hereinafter defined) and all other amounts becoming due from Tenant to Landlord hereunder (herein collectively called the "Rent") shall be paid in which the day immediately following the expiration lawful money of the Subsequent Abatement Period occurs). Tenant shall pay United States to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments at the office of Base Rent on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8Landlord at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, or as otherwise designated from time to time by written notice from Landlord to Tenant. The payment of Rent hereunder is independent of each and every other covenant and agreement contained in lawful currency this Lease, except as specifically provided herein. Tenant shall pay all applicable sales and use taxes on each installment or payment of Rent at the time payment is made.
(c) Notwithstanding anything in this Lease to the contrary, from the first to occur of the United States Floor Commencement Date for the mezzanine level space of Americathe Premises or the Floor Commencement Date for the second floor space of the Premises until the Entire Premises Commencement Date, Tenant shall pay for either the mezzanine level space of the Premises or the second floor space of the Premises for which the Floor Commencement Date has occurred, as the case may be, Base Rent as specified on Exhibit C-1 attached hereto and made a part hereof and Additional Rent (as hereinafter defined) during such period prorated based on the proportion of the rentable area of the mezzanine level space in the Premises (i.e., 90,026 square feet) or the rentable area of the second floor space in the Premises (i.e., 48,972 square feet), as applicable, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address rentable area of the Building Premises (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.138,998 square feet). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Office Lease (Excal Enterprises Inc)
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month in replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant's request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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 pursuant to this first sentence of this Section 3(a) hereunder shall be applied first to the first full calendar month following the expiration of the Subsequent Abatement Periodearliest accrued and unpaid Rent then outstanding. The obligation of Tenant 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 sums item of Rent when due and payable hereunder, a "LATE CHARGE" equal to Landlord five percent (5%) of such unpaid amount will be due and the obligations of Landlord under this Lease are independent obligations. payable immediately by Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Landlord.
C. The Additional Rent (as defined in Section 5) due payable hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses adjusted from time-to-time in accordance with the provisions of EXHIBIT D attached hereto and incorporated herein for all other amounts payable under the Lease during the Subsequent Abatement Periodpurposes.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the continue paying Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, with respect to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wireOriginal Premises, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant Expansion Premises and Second Expansion Premises as set forth in Exhibit A to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63Fifth Amendment through December 31, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated2025. Notwithstanding anything to the contrary contained hereinin the Lease, if on the expiration 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 Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Premises per year. Base Rent for such partial month with respect to the entire Premises shall thereafter be increased on the day immediately following the expiration each annual anniversary of the Subsequent Abatement Period and Sixth Amendment Adjustment Date (each, a “Sixth Amendment Rent Adjustment Date”) by multiplying the prepaid Base Rent delivered payable immediately before such Sixth Amendment Rent Adjustment Date by Tenant pursuant to this first sentence of this Section 3(a3% (the “Sixth Amendment Rent Adjustment Percentage”) shall be applied and adding the resulting amount to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligationspayable immediately before such Sixth Amendment Rent Adjustment Date. Tenant Base Rent, as so adjusted, shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (thereafter be due as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Leaseherein. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this the Lease, Tenant shall not be required to pay Base Rent for shall be abated during (i) the period commencing on January 1, 2026, through March 31, 2026 (the “Initial Base Rent Commencement Date Abatement Period”), and (ii) the period commencing on January 1, 2027, through the date that is 365 days after the Rent Commencement Date March 31, 2027 (the “Subsequent Base Rent Abatement Period”; with the Initial Base Rent Abatement Period, collectively, the “Base Rent Abatement Periods”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Initial Base Rent Abatement Period and the Subsequent Base Rent Abatement Period, as applicable. For the avoidance of doubt, during the Base Rent Abatement Periods, Tenant shall be required to pay Operating Expenses and all other amounts payable under administration rent each month equal to the Lease during amount of the Subsequent administration rent that Tenant would have been required to pay in the absence of there being Base Rent Abatement PeriodPeriods.
Appears in 1 contract
Sources: Lease Agreement (Humacyte, Inc.)
Base Rent. Tenant has delivered to Landlord a payment in the amount of $683,460.32 which as been applied against the Base Rent first coming due from Tenant under this Lease. Commencing on the Initial Commencement Date, Tenant shall deliver pay full Base Rent with respect to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease ▇▇▇ ▇, ▇▇▇▇▇▇▇▇ ▇ and Building 3. Commencing on the Initial Building 4 Commencement Date with respect to Landlordthe Initial Building 4 Premises and on the Remaining Building 4 Premises Rent Commencement Date with respect to the Remaining Building 4 Premises, the Tenant shall pay Base Rent due with respect to Building 4. Except as may be expressly provided for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (orthis Lease, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodhereof, in lawful currency money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to the physical address designated by such other person or at such other place as Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant may from time to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)time designate in writing. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as may be expressly provided for in this Lease, Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Leasehereunder. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Building 5 Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent and continuing thereafter on the first day immediately following of each month during the expiration of the Subsequent Abatement Period. For the avoidance of doubtTerm, Tenant shall be required to pay Operating Expenses and all monthly Base Rent for Building 5 in the amount set forth on page 1 of this Lease, subject to increases as provided for in Section 4(a) hereof by the Bi-Annual Rent Adjustment Percentage on every other amounts payable under anniversary of the Initial Commencement Date. Notwithstanding the foregoing, the first Bi-Annual Rent Adjustment with respect to Building 5 only shall not occur until November 1, 2015. Except as may otherwise be provided in Section 40, the Base Term of the Lease during with respect to Building 5 shall expire on the Subsequent Abatement Periodsame day as the Base Term with respect to the original Premises.
Appears in 1 contract
Sources: Lease Agreement (Illumina Inc)
Base Rent. Tenant Commencing on the Rent Commencement Date and throughout the Term, Subtenant agrees to pay Sublandlord as base rent (“Base Rent”) for the Sublease Premises the amounts pursuant to the following schedule: There shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, be no adjustment in the Base Rent due for or other amounts set forth in this Sublease which are determined based upon the calendar month in which the day immediately following the expiration rentable square footage of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, Sublease Premises.
4.1 Each monthly installments installment of Base Rent shall be payable in advance on or before the first day of each calendar month during the Term hereof after Term, except that the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments second full month’s installment of Base Rent for any fractional calendar month shall be proratedpaid within three (3) business days after Subtenant’s receipt of notice of Master Landlord’s consent to this Sublease. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs Term commences or ends on a day other than the first day of a calendar month, then Tenant the rent for the month in which this Sublease commences or ends shall pay be prorated (and paid at the beginning of each such month) in the proportion that the number of days this Sublease is in effect during such month bears to Landlord the prorated Base Rent for total number of days in such month, and such partial month on month’s installment shall be paid no later than the day immediately following the expiration commencement of the Subsequent Abatement Period subject month. In addition to the Base Rent, Subtenant agrees to pay as additional rent the amount of Additional Rent (as defined below) and the prepaid other charges required to be paid by this Sublease. All rent (which shall include Base Rent, Additional Rent delivered and other charges required to be paid by Tenant pursuant to this first sentence of this Section 3(aSublease) shall be applied paid to the first full calendar month following the expiration Sublandlord, without prior demand and without any deduction, offset, counterclaim or abatement, except as otherwise specifically provided in this Sublease, in lawful money of the Subsequent Abatement Period. The obligation United States of Tenant America, to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right Accounts Payable at any time to aVendavo at 3▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇., ▇▇▇▇▇ ▇▇▇▇, reduce▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ or to such other person or at such other place as Sublandlord may from time to time designate in writing to Subtenant. Subtenant’s covenant to pay rent shall be independent of every other covenant in this Sublease.
4.2 If Subtenant fails to pay Base Rent, Additional Rent or any other charges when the same are due hereunder, the unpaid amount will bear interest from the due date until the date of actual payment at the annual rate of interest equal to three percent (3%) over the prime rate of interest charged by W▇▇▇▇ Fargo Bank, N.A., from time to time, which interest shall be calculated, compounded and payable monthly (provided that in no event shall the interest rate payable by Subtenant exceed the maximum interest rate permitted by California law). If Subtenant fails to pay any installment of Base Rent, Additional Rent or other charges within three (3) business days after the same are due, or set-off fails to make any other payment for which Subtenant is obligated under this Sublease, then Subtenant shall pay to Sublandlord a late charge equal to ten percent (10%) of the amount so payable. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of which costs are extremely difficult and impracticable to calculate. The parties agree that the late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment.
4.3 No payment by Subtenant or receipt and acceptance by Sublandlord of a lesser amount than the Base Rent (as defined in Section 5) or Additional Rent shall be deemed to be other than part payment of the full amount then due hereunder except for and payable; nor shall any abatement as endorsement or statement on any check or any letter accompanying any check, payment of Rent or other payment, be deemed an accord and satisfaction; and Sublandlord may be expressly accept, but is not obligated to accept, such part payment without prejudice to Sublandlord’s right to recover the balance due and payable or to pursue any other remedy provided in this LeaseSublease or by law. Notwithstanding anything If Sublandlord shall at any time or times accept Rent after it becomes due and payable, such acceptance shall not excuse a subsequent delay or constitute a waiver of Sublandlord’s rights hereunder (except with respect to the contrary contained herein, Rent so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”accepted). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Sources: Sublease (Mobileiron, Inc.)
Base Rent. Prior to May 1, 2006, Tenant shall deliver pay the rent to LandlordLandlord as was due under its sublease, concurrent with T▇▇▇▇▇’s delivery of an executed copy pursuant to Article III, Paragraph 4 of this Lease to LandlordLease. Beginning May 1, 2006 (the Base “Rent due for Commencement Date”) and continuing thereafter through the calendar month in which the day immediately following the expiration term of the Subsequent Abatement Period occurs (orLease, if such date does not occur on the first day of a calendar month, Tenant shall pay Base Rent for the first full calendar month following the date Demised Premises in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord equal monthly installments payable in advance, without demand, abatement, deduction or set-off, . The first monthly installments payment of Base Rent shall be made upon the Rent Commencement Date, and the second and subsequent monthly payments shall be made on or before the first day of each and every calendar month thereafter during the Term hereof after hereof. Such payment shall be made at the expiration office of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8FCS Building Association, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.), Virginia 22101, or to such other party or to such other address as Landlord may designate from time to time by written notice to Tenant. Payments of Such payment shall be made without demand, notice, or invoice and without deduction, set-off, or counterclaim. All costs and expenses in addition to the Base Rent for any fractional calendar month that Tenant assumes or agrees to pay Landlord pursuant to this Lease shall be prorateddeemed to be additional rent. Notwithstanding anything Base Rent and additional rent are sometimes referred to collectively herein as “rent”. If Landlord shall at any time or times accept said rent after it shall become due and payable, such acceptance shall not excuse delay upon any subsequent occasion, or constitute, or be construed as, a waiver of any or all of Landlord’s rights hereunder. Rent shall be made payable to FCS Building Association or to such other persons, firm, or corporation as Landlord may designate in writing. If the contrary contained herein, if the expiration Term of the Subsequent Abatement Period occurs this Lease begins on a day date other than on the first of a month, then rent from such date until the first day of a calendar month, then Tenant the following month shall pay to Landlord be prorated at the prorated rate of one-thirtieth (1/30th) of the monthly Base Rent for such partial month on the each day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined payable in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodadvance.
Appears in 1 contract
Base Rent. (a) During the Original Lease Term and the Renewal Term, if applicable, Tenant shall deliver pay to LandlordLandlord annual fixed rent (the "Annual Base Rent") in an amount equal to the Fair Market Rent (as hereinafter defined) as of the date (the "Rent Appraisal Date") which is not less than sixty (60) days prior to (i) the Commencement Date, concurrent with T▇▇▇▇▇’s delivery respect to the first five (5) years of an executed copy the Original Lease Term or the entire six (6) years of the Original Lease Term if Tenant exercises its early Lease termination right in accordance with Section 2.2.A. of this Lease, (ii) the commencement of the sixth (6th) Lease Year, with respect to Landlordthe remainder of the Original Lease Term if Tenant does not exercise its early Lease termination right in accordance with Section 2.2.A. of this Lease, and (iii) the commencement of the Renewal Term, with respect to the Renewal Term. The Annual Base Rent due for the calendar month shall be payable in which the day immediately following the expiration of the Subsequent Abatement Period occurs (ormonthly installments, if such date does not occur in advance, on the first day of a calendar month, Base Rent for the first full each and every calendar month following during the date in which Lease Term and the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advanceRenewal Term, if applicable, without demand, abatement, deduction 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 installments installment of Annual Base Rent on or before shall be due and payable at the time of the execution of this Lease. Such first monthly installment of Annual Base Rent shall be in the amount due for the first day month of each calendar month 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 hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 Tenant shall pay to Landlord the prorated monthly installment of Annual Base Rent due for such partial month on shall be pro-rated.
(b) For the day immediately following purposes of this Article, the expiration 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 Subsequent Abatement Period pertinent date, considering (a) that Additional Rent shall continue to be payable during the 10-year period of the Original Lease Term or the 5-year period of the Renewal Term, as applicable, without any changes in this Lease relating to Additional Rent, (b) the age and quality of the prepaid Base Rent delivered by Building as of such date, (c) the length of the applicable Term, and (d) such other factors that Landlord and Tenant pursuant to this first sentence of this Section 3(a) reasonably agree shall be applied to relevant at the first full calendar month following the expiration of the Subsequent Abatement Periodapplicable date. The obligation of Tenant to pay Base Fair Market Rent and other sums to shall be determined by mutual agreement between Landlord and Tenant (based upon the obligations above factors) and shall be set forth in a writing to be executed by Landlord and Tenant; provided, however, that the failure of Landlord under this Lease are independent obligations. Tenant shall have no right at any time either party to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant execute such writing shall not be required to pay Base Rent for affect the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration determination of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodFair Market Rent.
Appears in 1 contract
Sources: Lease (Ha Lo Industries Inc)
Base Rent. (a) Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, pay the Base Rent due for the calendar each month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur advance on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 Term. For any partial calendar month at the expiration beginning or end of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Term, Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency shall pay a proportional share of the United States of Americaamount that would be due for a full calendar month, which proportion shall be equal to the physical address designated by fraction of the total days of such calendar month included in the Term, and, with respect to a partial month at the beginning of the Term, Tenant shall pay such proportional share on the Commencement Date. In addition to the Base Rent, Tenant shall pay all additional rent and rental adjustments provided herein at the times set forth herein, or if no time for payment is specified, then payment shall be made within 30 days after Tenant's receipt of an invoice from Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)another billing authority. All EFT payments shall be made by to Landlord at Landlord's Address or such other place as Landlord may designate in writing, without prior demand and without abatement, deduction or offset except as may be specifically set forth herein. Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco Noshall not pay, and Landlord shall not accept, any rental payment more than one month in advance. 63, LLC as well as the address Landlord acknowledges receipt from Tenant of the Building sum of One Hundred Fifty Thousand Dollars (i.e.$150,000.00), 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments which sum shall be applied against Tenant's first payments on account of Base Rent for any fractional calendar month and additional rent obligations under this Lease. All charges to be paid by Tenant hereunder, other than Base Rent, shall be prorated. Notwithstanding anything to considered additional rent for the contrary contained hereinpurpose of this Lease, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to words "rent" or "Rent" as used in this first sentence of this Section 3(a) Lease shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay mean both Base Rent and other sums to Landlord and such additional rent unless the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, context specifically 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 clearly indicates that only the contrary contained herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodreferenced.
Appears in 1 contract
Sources: Office Lease (Sycamore Networks Inc)
Base Rent. Tenant shall deliver pay, without notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, agent at the Base Rent due for the calendar month in which the day immediately following the expiration management office of the Subsequent Abatement Period occurs Building, 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 (or, if such date does not occur on the first day of a calendar month, “Base Rent for the first full calendar month following the date Rent”) as set forth in which the day immediately following the expiration Section 8 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, payable in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 8 of Base Rent 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 second (2nd) 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 the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)which such fractional month occurs. All EFT other payments or adjustments required to be made by Tenant pursuant to under the terms of this Section 3(a) must include Lease that require proration on a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month time basis shall be proratedprorated on the same basis. Notwithstanding anything to the contrary contained herein, if the expiration herein and provided that Tenant faithfully performs all of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period terms and the prepaid Base Rent delivered by Tenant pursuant to this first sentence conditions of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Lease, Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time hereby agrees to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required ▇ Tenant’s obligation to pay Tenant’s monthly Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abated Rent”) for the first (1st) month of the Lease Term (the “Abatement Period”). Tenant shall commence paying full Base Rent on During the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and remain responsible for the payment of all of its other amounts payable monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease during that results in the Subsequent Abatement Periodearly termination of this Lease 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 the recovery of the Abated Rent.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period Rent Commencement Date occurs (or, if such date the Rent Commencement Date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration Rent Commencement Date) shall be due and payable concurrently with ▇▇▇▇▇▇’s delivery of the Subsequent Abatement Period occurs)an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, equal monthly installments of Base Rent (i.e., 1/12 of the annual Base Rent amount then in effect) on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodRent Commencement Date, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63Tech Square, LLC LLC, as well as the address of the Building (i.e., 8▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.▇▇▇▇, ▇▇▇▇▇▇▇▇▇, MA). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period Rent Commencement Date occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period Rent Commencement Date and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement PeriodRent Commencement Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided for in this Lease. Landlord and Tenant acknowledge and agree that (a) the rate of Base Rent reflected in the Basic Lease Provisions was determined taking into account the full amount of Tenant Improvement Allowance (as defined in the Work Letter) of $410.00 per rentable square foot of the Premises, and (b) if Tenant, subject to the terms of Section 6(b) of the Work Letter, elects not to use the full amount of the Tenant Improvement Allowance, then the rate of Base Rent payable per rentable square foot of the Premises shall be reduced by $0.75 per rentable square foot for every $10.00 of the Elected Base Allowance (as defined in Section 6(b) of the Work Letter) under $410.00 per rentable square foot of the Premises. For example, if Tenant elects an Elected Base Allowance of $350.00 per rentable square foot of the Premises, then the initial Base Rent payable under this Lease shall be reduced from $108.00 per rentable square foot of the Premises to $103.50 per rentable square foot of the Premises. Notwithstanding anything to the contrary contained hereinin this Lease, so long as Tenant is not then in Default default under this LeaseLease beyond applicable notice and cure periods, Tenant shall not be required to pay Base Rent shall be abated for the period commencing on the Rent Commencement Date through the date that is 365 90 days after the Rent Commencement Date (the “Subsequent Abatement Period”). The Abatement Period, the Fifth Amendment Premises Abatement Period (as defined in Section 39(a)) and the Seventh Amendment Premises Abatement Period (as defined in Section 39(b)) may be referred to collectively herein as the “Base Rent Abatement Periods”. Tenant shall commence paying full Base Rent with respect to the entire Premises on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses Expenses, Utilities and all other amounts payable due under the Lease during each of the Subsequent Base Rent Abatement PeriodPeriods. If Landlord has not delivered the New Project Amenities by the date that is 9 months after the Rent Commencement Date (the “Amenities Abatement Date”), then commencing on the Amenities Abatement Date, the Base Rent payable by Tenant under this Lease shall be reduced by an amount equal to 5% of the Base Rent then payable per rentable square foot of the Premises per month. If Landlord delivers the New Project Amenities after the Amenities Abatement Date (such date that Landlord delivers the New Project Amenities, the “New Project Amenities Delivery Date”), then commencing on the New Project Amenities Delivery Date, Base Rent shall be increased to the total amount of Base Rent that would have been payable under this Lease but for the reduction contemplated pursuant to the immediately preceding sentence.
Appears in 1 contract
Base Rent. Tenant (a) The first month's Base Rent and the Security Deposit shall deliver to Landlord, concurrent with T▇▇▇▇▇’s be due and payable on delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur . Commencing on the first day of a calendar monthCommencement Date, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent with respect to the Premises on or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodhereof, in lawful currency money of the United States of America, to at the physical address designated by office of Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address payment of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Rent set forth above. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent due hereunder. Notwithstanding the foregoing, Base Rent during the first 2 months of the Term following the Commencement Date shall be waived, and the first month's rent delivered to Landlord pursuant to the first sentence of this Section 4(a) shall be applied to the Base Rent due and payable for the third month of the Term.
(b) In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent ("Additional Rent"): (i) Tenant's Share of Operating Expenses (as defined in Section 56) due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything with respect to the contrary contained hereinPremises, so long as and (ii) any and all other amounts Tenant is not then in Default assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant shall not or failure to comply with the agreements, terms, covenants and conditions of this Lease to be required performed by Tenant, after any applicable notice and cure period. Tenant's obligation to pay Base Rent for the period commencing on the and Additional Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required hereunder are collectively referred to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodherein as "Rent".
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of pay an executed copy of this Lease to Landlord, the annual Base Rent due for in the calendar month amount set forth above in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Basic Lease Information. The Initial Monthly Base Rent for the first full calendar third (3rd) month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Term shall be due and payable within five (5) business days after Tenant’s execution of this Lease, and Tenant shall promises to pay to Landlord in advance, without demand, abatement, deduction or set-offoff (except as expressly permitted under this Lease), monthly installments of Base Rent on or before the first day of each calendar month during commencing with the Term hereof after third calendar month succeeding the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, Commencement Date (as that date may be extended as provided in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”Paragraph 2(c). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for hereunder (or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant other party as Landlord may from time to this first sentence of this Section 3(atime specify in writing) shall be applied made by electronic funds transfer or bank wire transfer of immediately available federal funds at such place, within the continental United States, as Landlord may from time to the first full calendar month following the expiration of the Subsequent Abatement Periodtime designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as expressly set forth in this Lease, Tenant shall have no right at any time to aabate, r▇▇▇▇, reduce▇, or set-off any rent due hereunder. If Tenant is delinquent in any monthly installment of Base Rent or of estimated Operating Expenses (as defined in Section below) for more than five (5) due hereunder except for days, Tenant shall pay to Landlord on demand a late charge equal to six percent (6%) of such delinquent sum; provided, however, that, not more than once during any abatement twelve (12)- month period during the Term (as may extended), Tenant shall be expressly provided in this Lease. Notwithstanding anything entitled to the contrary contained hereinwritten notice of non-receipt of Base Rent or estimated Operating Expenses from Landlord, so long as Tenant is not then in Default under this Lease, and Tenant shall not be required to pay liable for any late charge with respect thereto if such installment of Base Rent for the period commencing on the Rent Commencement Date through the date that or estimate Operating Expenses is 365 received by Landlord within five (5) days after the Rent Commencement Date (the “Subsequent Abatement Period”)Tenant’s receipt of such notice. Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant The provision for such late charge shall be required in addition to pay Operating Expenses all of Landlord's other rights and all other amounts payable under the Lease during the Subsequent Abatement Periodremedies hereunder or at law and shall not be construed as a penalty.
Appears in 1 contract
Sources: Lease (Bloom Energy Corp)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the pay Base Rent in the amount set forth in Addendum 1. The first month’s Base Rent and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur and payable on the first day of a calendar monthdate hereof, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). and Tenant shall promises to 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 succeeding the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Commencement Date. Payments of Base Rent for any fractional calendar month shall be proratedprorated based upon a thirty (30) day month. Notwithstanding anything All payments required to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then be made by Tenant shall pay to Landlord the prorated Base Rent for hereunder (or to such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant other party as Landlord may from time to this first sentence of this Section 3(atime specify in writing) shall be applied made by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Eastern Time, at such place, within the continental United States, as Landlord may from time to the first full calendar month following the expiration of the Subsequent Abatement Periodtime designate to Tenant in writing at least five (5) business days in advance. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) rent due hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained herein, so long as If Tenant is not then delinquent in Default under this Leaseany monthly installment of Base Rent or of Operating Expenses beyond 5 days after the due date thereof, and after notice as provided below, Tenant shall pay to Landlord on demand a late charge equal to 5 percent of such delinquent sum. Tenant shall not be required obligated to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 late charge until Landlord has given Tenant 5 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration written notice of the Subsequent Abatement Perioddelinquent payment (which may be given at any time during the delinquency); provided, however, that such notice shall not be required more than twice in any 12-month period. For the avoidance of doubt, Tenant The provision for such late charge shall be required in addition to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.of Landlord’s
Appears in 1 contract
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of become due under this Lease to Landlord(including, the Base Rent due without limitation, any charges for the calendar month in replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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, without demand, abatement, deduction or set-off, advance in monthly installments of Base Rent on or before the first day of each calendar month during the Lease Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-and any extensions or renewals hereof, and Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, hereby agrees to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of pay such Base Rent for any fractional calendar month shall be proratedand Additional Rent to Landlord without demand. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated installments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following number of days in such month. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the expiration correct installment of Rent due under this Lease shall be deemed to be other than a payment on account of the Subsequent Abatement Period 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 prepaid Base balance or pursue any other available remedy. The acceptance by Landlord of an installment of Rent delivered 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 pursuant to this first sentence of this Section 3(a) hereunder shall be applied first to the first full calendar month following the expiration of the Subsequent Abatement Periodearliest accrued and unpaid Rent then outstanding. The obligation of Tenant 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 sums item of Rent when due and payable hereunder, a “Late Charge” equal to Landlord five percent (5%) of such unpaid amount will be due and the obligations of Landlord under this Lease are independent obligations. payable immediately by Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.Landlord,
Appears in 1 contract
Sources: Office Lease (Wageworks, Inc.)
Base Rent. On the later to occur of (i) the date Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of delivers an executed copy of this Lease to Landlord, and (ii) October 1, 2023, Tenant shall deliver to Landlord Base Rent in the amount of $251,889.00. 50% of foregoing amount shall be credited towards the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs)Base Term, and the remaining 50% of such amount shall be a credit towards Base Rent due for the last full calendar month of the Base Term. Subject to the foregoing sentence, Tenant shall pay to Landlord in advance, without demand, abatementabatement (except as otherwise expressly provided for in this Lease), 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodhereof, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63ARE-3535/3565 General Atomics Court, LLC LLC, as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.3565 General Atomics Court). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period Commencement Date occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period Commencement Date and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement PeriodCommencement Date. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur Commencing on the first day of a calendar month(i) Commencement Date with respect to the Prior Premises, Base Rent for (ii) the first full calendar month following Suite 400 Office Premises Commencement Date with respect to the date in which Suite 400 Office Premises, (iii) the day immediately following Suite 400 Lab Premises Commencement Date with respect to the expiration of Suite 400 Lab Premises, (iv) the Subsequent Abatement Period occurs). Suite 500 Commencement Date with respect to Suite 500, and (v) the Suite 600 Commencement Date with respect to Suite 600, Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-offoff (except for any abatement, reduction or set-off as may be expressly provided in this Lease), monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after (subject to the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent applicable Abatement PeriodPeriods (as defined below)), in lawful currency of the United States of America, at the office of Landlord for payment of Rent set forth above, or to the physical address designated by such other person or at such other place as Landlord may from time to time designate in writing, or by via federally insured electronic fund wire transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (including ACH) pursuant to the wire instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)Landlord. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Net Multi-Tenant Laboratory 825 Industrial – Multiple Suites/Vaxcyte - Page 13 Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for any abatement abatement, reduction or set-off as may be expressly provided in this Lease. Notwithstanding anything contained herein to the contrary contained hereincontrary, so long as Tenant is not then in Default default under this LeaseLease (beyond any applicable notice or cure periods), Tenant shall not be required to pay Base Rent shall be abated as follows: (w) with respect to the Suite 400 Office Premises only, for the period commencing on the Rent Suite 400 Office Premises Commencement Date (or, if the Suite 400 Office Premises Commencement Date does not occur on the first day of a calendar month, then on the first day of the first full calendar month following the Suite 400 Office Premises Commencement Date) through the date that is 365 days after expiration of the Rent 8th full calendar month following the Suite 400 Office Premises Commencement Date (the “Subsequent Suite 400 Office Premises Abatement Period”), (x) with respect to the Suite 400 Lab Premises only, for the period commencing on the Suite 400 Lab Premises Commencement Date (or, if the Suite 400 Lab Premises Commencement Date does not occur on the first day of a calendar month, then on the first day of the first full calendar month following the Suite 400 Lab Premises Commencement Date) through the expiration of the 8th full calendar month following the Suite 400 Lab Premises Commencement Date (the “Suite 400 Lab Premises Abatement Period”), (y) with respect to Suite 500 only, for the period commencing on the Suite 500 Commencement Date (or, if the Suite 500 Commencement Date does not occur on the first day of a calendar month, then on the first day of the first full calendar month following the Suite 500 Commencement Date) through the expiration of the 8th full calendar month following the Suite 500 Commencement Date (the “Suite 500 Abatement Period”), and (z) with respect to Suite 600 only, for the period commencing on the Suite 600 Commencement Date (or, if the Suite 600 Commencement Date does not occur on the first day of a calendar month, then on the first day of the first full calendar month following the Suite 600 Commencement Date) through the expiration of the 8th full calendar month following the Suite 600 Commencement Date (the “Suite 600 Abatement Period”). The Suite 400 Office Premises Abatement Period, Suite 400 Lab Premises Abatement Period, Suite 500 Abatement Period and Suite 600 Abatement Period may be collectively referred to herein as the “Abatement Periods”. Notwithstanding anything to the contrary contained herein, if the Suite 400 Office Premises Commencement Date, Suite 400 Lab Premises Commencement Date, Suite 500 Commencement Date and/or the Suite 600 Commencement Date occur on a day other than the first day of a calendar month, then, commencing on the Suite 400 Office Premises Commencement Date, Suite 400 Lab Premises Commencement Date, Suite 500 Commencement Date and/or the Suite 600 Commencement Date, as applicable, Tenant shall pay to Landlord the prorated Base Rent due (which shall not be subject to abatement pursuant to this paragraph) for the Suite 400 Office Premises, the Suite 400 Lab Premises, Suite 500 and/or Suite 600, as applicable, for the calendar month in which the Suite 400 Office Premises Commencement Date, Suite 400 Lab Premises Commencement Date, Suite 500 Commencement Date and the Suite 600 Commencement Date, respectively, occur. Subject to any additional abatement of Base Rent to which Tenant is entitled under Section 2(b), 2(c), 2(d) or 2(e), if any, Tenant shall commence paying full Base Rent (A) with respect to the entire Suite 400 Office Premises on the day immediately following the expiration of the Subsequent Suite 400 Office Premises Abatement Period, (B) with respect to the entire Suite 400 Lab Premises on the day immediately following the expiration of the Suite 400 Lab Premises Abatement Period, (C) with respect to the entirety of Suite 500 on the day immediately following the expiration of the Suite 500 Abatement Period, and (D) with respect to the entirety of Suite 600 on the day immediately following the expiration of the Suite 600 Abatement Period. For the avoidance of doubt, Tenant shall will be required to pay Operating Expenses and all other amounts payable to under this Lease with respect to the Lease Suite 400 Office Premises during the Subsequent Suite 400 Office Premises Abatement Period, with respect to the Suite 400 Lab Premises during the Suite 400 Lab Premises Abatement Period, with respect to Suite 500 during the Suite 500 Abatement Period and with respect to Suite 600 during the Suite 600 Abatement Period.
Appears in 1 contract
Sources: Lease Agreement (Vaxcyte, Inc.)
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy 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, Landlord at the Base Rent address shown above. One monthly installment of rent shall be due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur and payable on the first day date of a calendar month, Base Rent execution of this Lease by Tenant for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant month’s rent and a like monthly installment shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent be due and payable on or before the first day of each calendar month succeeding the Rent Commencement Date during the Term hereof after the expiration term of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinLease; provided, if the expiration of the Subsequent Abatement Period occurs on Rent Commencement Date should be a day date other than the first day of a calendar month, then 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 pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to Landlord the prorated Base Rent contrary, if Landlord, for such partial month any reason whatsoever (other than Tenant’s default), cannot deliver possession of the Premises to the Tenant on the day immediately following Rent Commencement Date, 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 the Subsequent Abatement Period term be extended, but all rent shall be abated until Landlord delivers possession. All base rent, additional rent and the prepaid Base Rent delivered other sums payable by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at payable without demand and without any time to a▇▇▇▇reduction, reduceabatement, counterclaims 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodsetoff.
Appears in 1 contract
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ /Cargo Tx - Page 4 the Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. 4.1 Tenant shall deliver pay Base Rent in advance, in equal monthly installments, the first payment to Landlord, concurrent be made simultaneously with T▇▇▇▇▇’s delivery of an executed copy Tenant's execution of this Lease Lease, and the second and subsequent monthly payments to Landlord, be made on the Base Rent due for the first day of each and every calendar month in which the day immediately following the expiration of Lease Commencement Date during the Subsequent Abatement Period occurs (or, if such Lease Term. If the Lease Term begins on a date does not occur other than on the first day of a calendar month, Base Rent for the first full calendar month following of commencement shall be prorated at the date in which the day immediately following the expiration rate of one thirtieth (1/30th) of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments installment of Base Rent for each day. Tenant will pay all rent to Landlord, at the 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.
(a) Commencing on or before the first day of the second Lease Year and on the first day of each calendar month Lease Year thereafter during the Term hereof after Lease Term, annual Base Rent then in effect shall be increased by three percent (3%) over the expiration Base Rent payable for the immediately preceding Lease Year.
(b) Commencing on the first day of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multiseventh (7th) Lease Year, annual Base Rent shall be reduced to a per annum rate equal to the sum of (i) the product of $25.50 multiplied by the rentable square feet comprising the Premises, net of the cost of electricity, and (ii) accumulated escalations as set forth in Section 4.2(a) above, which per annum rate shall be subject to adjustment in accordance with Section 4.2(a) above.
4.3 All sums payable by Tenant under this Lease shall be payable without demand, set-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, off or deduction and shall be paid to Landlord in lawful currency immediately available funds in legal tender of the United States of America, to the physical address designated by Landlord wire transfer or by federally insured electronic fund transfer check (“EFT”) via wiresubject to collection), Society for Worldwide Interbank Financial Communications (SWIFT) at the address to which notices to Landlord are to be given or automated clearing house (ACH) pursuant to the instructions provided by 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.
4.4 All costs and expenses which Tenant assumes or agrees to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pay to Landlord pursuant to this Section 3(aLease, including without limitation, Operating Expenses and Real Estate Taxes (both as hereinafter defined), shall be deemed to be additional rent ("Additional Rent") must include a reference 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 ARE-San Francisco No. 63, LLC collectively herein as well as the address "rent."
4.5 If Tenant fails to make any payment of the Building Base Rent, Additional Rent or any other sum payable to Landlord on or before the date such payment is due and payable (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.without regard to any grace period specified in Section 21.1). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay a late charge of three percent (3%) of the amount of such payment then due for each month such payment remains unpaid. Notwithstanding the foregoing, Landlord agrees to aba▇▇ ▇▇e first two (2) such late charges and interest thereon in any twelve (12) month period provided Tenant cures the late installment within five (5) days following written notice to Tenant that Landlord has not timely received such payment. In addition, such payment and such late fee shall bear interest at the Default Rate as set forth in Section 21.5 commencing on the fifth (5th) day after the date such payment was due to the date of payment thereof. Such late charge and interest 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 the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then at law, or in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodequity.
Appears in 1 contract
Sources: Office Lease (Identix Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). a) Tenant shall pay to Landlord Landlord, as rent for the 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 deduction, reduction or set-off, monthly installments counterclaim of Base Rent any kind; on or before the first day of each calendar month during the Term hereof after at such place as the expiration Landlord shall from time to time designate.
(b) During the first twelve months of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodTerm, in lawful currency 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 Index. “Index” means the Consumer Price Index of the Bureau of Labor Statistics, United States Department of AmericaLabor (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 the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wirebe published, Society a reasonable substitute index shall replace it for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)purposes of this Lease. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments The adjusted monthly installments of Base Rent for the twelve months succeeding any fractional calendar month adjustment shall be prorated. Notwithstanding anything to the contrary contained herein, if product found by multiplying the expiration amount of the Subsequent Abatement Period occurs on a day other than the first day monthly installment of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent due for the 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 partial Index number for the month on and year used in the day immediately following the expiration numerator of the Subsequent Abatement Period and previous adjustment (or for the prepaid month immediately preceding commencement of the Term, as the case may be); provided, however, that in no case shall monthly Base Rent, or Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) as adjusted, ever be reduced. Following each such adjustment, the term “Base Rent,” as used in the Lease, shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay mean Base Rent and other sums to Landlord and as most recently adjusted. If at the obligations beginning of Landlord under this any Lease are independent obligations. Tenant Year adjusted Base Rent shall not have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Leasebeen calculated, Tenant shall not be required to pay continue paying the Base Rent for the period commencing previously in effect on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”)a timely basis. Tenant shall commence paying full Base Rent on the day immediately following the expiration Upon notification by Landlord of the Subsequent Abatement Period. For the avoidance of doubtadjusted Base Rent, Tenant shall be required to immediately pay Operating Expenses Landlord the difference between Base Rent paid and all other amounts payable under the Lease during the Subsequent Abatement 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. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following Rent Commencement Date occurs shall be due and payable on or before the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs)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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodRent Commencement Date, in lawful currency money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to the physical address designated by such other person or at such other place as Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant may from time to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.)time designate in writing. Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇, 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 Net Lease 10151 ▇▇▇▇▇▇ Canyon/Tandem - Page 4 to the contrary contained in this Lease, in no event shall Tenant be required to pay for Base Rent or Operating Expenses for any period prior to the Rent Commencement Date. Notwithstanding anything to the contrary contained herein, so long as Tenant no Default has occurred and is not then in Default continuing under this Lease, Tenant shall not be required to pay Base Rent with respect to the Premises for the period commencing on the later of (i) the Rent Commencement Date Date, or (ii) February 1, 2017 (either, the “Abatement Commencement Date”), through the date that is 365 days 7 months after the Rent Abatement Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence or resume, as applicable, paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Period.
Appears in 1 contract
Base Rent. Tenant shall deliver pay, without notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, agent at the Base Rent due for the calendar month in which the day immediately following the expiration management office of the Subsequent Abatement Period occurs Building, 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 (or, if such date does not occur on the first day of a calendar month, “Base Rent for the first full calendar month following the date Rent”) as set forth in which the day immediately following the expiration Section 8 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary, payable in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 8 of Base Rent the Summary in advance on or before the first day of each calendar 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 hereof (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-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 contained herein and provided that Tenant Laboratory 8faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The ’s obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay monthly Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date first (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration 1st) four (4) months of the Subsequent Abatement Periodinitial Lease Term. For the avoidance of doubtDuring such abatement periods, Tenant shall still be required to pay Operating Expenses and responsible for the payment of all of its other amounts payable monetary obligations under this Lease. In the event of a default by Tenant under the terms of this Lease during that results in early termination pursuant to the Subsequent Abatement Periodprovisions of Section 19.2 of this Lease, then as a part of the recovery set forth in Section 19.2.1 of this Lease, Landlord shall be entitled to the recovery of the unamortized portion of the monthly Base Rent abated under the provisions of this Article 3, with amortization calculated on a straight line basis utilizing a forty (40) month amortization schedule commencing as of the Lease Commencement Date.
Appears in 1 contract
Sources: Office Lease (Movano Inc.)
Base Rent. Tenant shall deliver pay, without notice or demand, to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, Landlord at the Base Rent due for the calendar month address set forth in which the day immediately following the expiration Section 3 of the Subsequent Abatement Period occurs (orSummary, if or at such date does not occur on the first day of a calendar monthother place as Landlord may from time to time designate in writing, Base Rent for the first full calendar month following the date in which the day immediately following the expiration lawful money of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord United States of America by ACH (Automated Clearing House) payment or wire transfer of funds or by check, base rent ("Base Rent") as set forth in advanceSection 8 of the Summary, without demand, abatement, deduction or set-off, payable in equal monthly installments as set forth in Section 8 of Base Rent 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 in this Lease. Concurrently with Tenant's execution of this Lease, Tenant shall deliver to Landlord an amount equal to the Base Rent payable by Tenant for the Premises for the seventh (7th) full month of the Lease Term (i.e., $271,952.00). If any rental payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a period which is shorter than one month, then the rental for any such fractional month shall be a proportionate amount of a full calendar month's rental based on the proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. If the Term hereof after Lease Commencement Date falls on the expiration first day of a month, the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Base Rent delivered on the Effective Date shall be credited towards the first month's Base Rent (as defined in Article 4 below) payments. If the Lease Commencement Date is not on the first day of a month, then, on the Lease Commencement Date, Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of shall pay Base Rent for any fractional calendar month the period from the Lease Commencement Date through the last day of the month, and the Base Rent paid in advance on the Effective Date shall be proratedcredited towards Base Rent for the succeeding calendar month. 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 contained herein, if herein and so long as no Event of Default exists under this Lease (beyond the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar monthall applicable notice and cure periods), then Tenant shall pay Landlord hereby agrees to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇▇ Tenant's obligation to pay one hundred percent (100%) of Tenant's monthly Base Rent during the period which is the first (1st), reducesecond (2nd), or set-off any Rent third (as defined in Section 53rd), fourth (4th), fifth (5th) due hereunder except and sixth (6th) full calendar months following the Lease Commencement Date (collectively the "Abated Rent"). During such abatement period, Tenant shall still be responsible for any abatement as may be expressly provided in the payment of all of its other monetary obligations under this Lease. Notwithstanding anything In the event of a default by Tenant under the terms of this Lease that results in early termination pursuant to the contrary contained herein, so long as Tenant is not then in Default under provisions of Article 19 of this Lease, Tenant then as part of the recovery set forth in Article 19 of this Lease, Landlord shall not be required entitled to pay the recovery of the unamortized amount of monthly Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable was abated under the Lease during the Subsequent Abatement Periodprovisions of this Article 3.
Appears in 1 contract
Sources: Lease (Janux Therapeutics, Inc.)
Base Rent. Tenant Lessee shall deliver pay to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due Lessor as mat for the calendar month Premises, monthly payments in which the day immediately following the expiration of the Subsequent Abatement Period occurs (oradvance, if such date does not occur on the first day of a calendar montheach month of the term hereof the base monthly rent set forth below for each applicable rental period: RENTAL PERIOD (inclusive of dates listed below) COMMENCING EXPIRING BASE MONTHLY RENT ---------- -------- ----------------- November 1, Base 2000 October 31, 2002 $4,993.33 November 1, 200k2 October 31, 2004 $5,200.00 November 1, 2004 October 31, 2005 $5,416.67 Rent for any period during the first full calendar term hereof which is for less than one month following the date in which the day immediately following the expiration shall be a pro rata portion of the Subsequent Abatement Period occurs)monthly installment. Tenant In addition to the base monthly rent, Lessee shall also pay to Landlord Lessor all additional Rents, incremental Rents, charges and fees (collectively referred to as the "Rent") as provided for in advance, without demand, abatement, deduction the Lease or set-off, monthly installments of Base Rent on in any other agreement or before writing between the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodparties. All Rents shall be paid by Lessee promptly when due, in lawful currency money of the United States of America, to the physical address designated by Landlord without notice or by federally insured electronic fund transfer (“EFT”) via wiredemand, 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63and without deduction, LLC as well as the address of the Building (i.e.abatement, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereincounterclaim, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, recoupment or set-off of any Rent (as defined in Section 5) due hereunder except amount or for any abatement as may reason whatsoever. All Rent is to be expressly provided in this Lease. Notwithstanding anything paid to the contrary contained hereinLessor at the address set forth in the heading of this Lease and made payable to Avi Don Management. L.L.C., Managing Agent, or to such other person or address as Lessor may from time to time direct and if so long directed, Lessee agrees to make the payments in such other manner. All Rent payments shall be deemed on account of the earliest stipulated Rent or in such other manner as Tenant is not then Lessor in Default Lessor's sole discretion may determine, and no endorsement or statement on any check or letter shall be deemed an accord and satisfaction, estoppel or waiver of Lessor's rights and Lessor may accept any check or payment without prejudice to its rights to recover the balance due or to pursue any other remedies available against Lessee. Lessee hereby agrees to timely pay the Rent imposed under this LeaseLease or any other agreements or writings between the parties and to observe and timely fulfill and perform all of its obligations to the Lessor. Lessee agrees that, Tenant In the event it falls to make any payments when due or to perform any obligation required of it, it shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration deemed in default of the Subsequent Abatement Period. For Lease and Lessor shall have all remedies available to it under this Lease and/or available to a Landlord under the avoidance of doubtlaw, Tenant whichever shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodmore expansive.
Appears in 1 contract
Base Rent. Tenant shall deliver agrees to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy pay monthly as base rent during the term of this Lease to Landlordthe sum of money set forth in Section 1.4 of this Lease, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant amount shall pay be payable to Landlord in advance, without demand, abatement, deduction or set-off, at the address shown above. One monthly installments of Base Rent installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the Term hereof after the expiration term of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained hereinLease; provided, if the expiration of the Subsequent Abatement Period occurs on Commencement Date should be a day date other than the first day of a calendar month, then Tenant the monthly rental set forth above shall pay be prorated to Landlord the prorated Base Rent for such partial 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 on during the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence term of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligationsLease. Tenant shall have no right at any time to a▇▇▇▇pay, reduceas additional rent, or set-off any Rent (as defined in Section 5) all other sums due hereunder except for any abatement as may be expressly provided in under this Lease. Notwithstanding anything in this Lease to the contrary contained hereincontrary, so long as if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant is not then in Default under on the Commencement Date, this Lease, Tenant Lease shall not be required to pay Base Rent void or voidable, nor shall Landlord be liable for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant any loss or damage resulting therefrom, nor shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Periodterm be extended, but all rent shall be abated until Landlord delivers possession. For Notwithstanding the avoidance of doubtabove, in the event Landlord has not delivered the Premises to the Tenant 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 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 execution by both parties, the second payable thirty (30) days following lease execution, and the third due sixty (60) days after lease execution. Construction cost increases of savings or $30,000.00 of less above or below the estimated construction cost of $566,390.00 shall be required 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 pay Operating Expenses Landlord upon finalization of tenant improvement costs, at which time Landlord and all other amounts payable under Tenant agree to enter into lease addendum depicting the Lease during the Subsequent Abatement Periodnew base rental rate, if such rate is adjusted as contained in this section.
Appears in 1 contract
Sources: Consent to Assignment and Assumption of Lease (Digital River Inc /De)
Base Rent. Tenant shall deliver pay, without prior notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, 's agent at the Base Rent due for the calendar month in which the day immediately following the expiration management office of the Subsequent Abatement Period occurs (Project, or, if at Landlord's option, at such date does not occur on other place as Landlord may from time to time designate in writing, by a check for currency which, at the first day time of a calendar monthpayment, is legal tender for private or public debts in the United States of America, base rent ("Base Rent for the first full calendar month following the date Rent") as set forth in which the day immediately following the expiration Section 4 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary in advance, without demand, abatement, deduction or set-off, equal monthly installments as set forth in Section 4 of Base Rent the Summary in advance on or before the first day of each and every calendar month during the Term hereof after Lease Term, without any setoff or deduction whatsoever (except as expressly provided in this Lease). Notwithstanding the expiration foregoing, the inclusion of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page SMB Rent as Base Rent in Section 4 Subsequent Abatement Period, in lawful currency of the United States of America, is limited to the physical address designated by Landlord or by federally insured electronic fund transfer initial Lease Term (“EFT”) via wireand any holdover period), Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to and shall not be included in the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments calculation of Base Rent for payable during any fractional calendar month shall be proratedOption Term. Notwithstanding anything to If any Rent payment date (including the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 calendar period which is shorter than one month, then Tenant the Rent for any fractional month shall pay accrue on a daily basis for the period from the date such payment is due to Landlord 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 the foregoing, as long as no Event of Default exists under the Initial Lease as of the Lease Commencement Date, Base Rent payable by Tenant for such the first partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant Lease Term pursuant to this first sentence of this Section 3(a) Article 3 shall be applied fully satisfied by Landlord's application (pursuant to Section 2.3, above) of the first full base rent paid by Tenant for the last calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Initial Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodas hereby terminated.
Appears in 1 contract
Sources: Lease (Nuvasive Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord rent (herein called "Base Rent") 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Periodarrears, in lawful 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 physical address designated 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 by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) any other Applicable Purchaser purchases Landlord's interest in the Leased Property pursuant to the instructions provided by Purchase Agreement, 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 to Tenant (under the “EFT Payment Instructions”)Purchase Agreement. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address Base Rent shall accrue for each day of the Building (i.e.first Base Rent Period, 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments and the total Base Rent for the first Base Rent Period shall equal the sum of Base Rent for any fractional calendar month all days during such period. The Base Rent accruing for each day during such period shall be prorated. Notwithstanding anything to equal: (1) (A) $74,800,000, times (B) one minus the contrary contained hereinCollateral Percentage for the first Base Rent Period, if times (C) the expiration sum of (i) the Subsequent Abatement 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 occurs after the first Base Rent Period shall equal the sum of: (1) (A) Stipulated Loss Value on a day other than 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 calendar monthhypothetical 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, then Tenant shall pay to Landlord leaving a Stipulated Loss Value of $30,000,000 (the prorated 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 such partial month on the day immediately following 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 expiration administrative burden of the Subsequent Abatement Period this Lease and the prepaid Pledge Agreement, clause (2) in the formulas above for calculating Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied reflects a reduction in the Base Rent equal to the first full calendar month following interest that would accrue on any Collateral required by the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any Pledge Agreement from time to a▇▇▇▇, reduce, or set-off any Rent time if the Accounts (as defined in Section 5the Pledge Agreement) due hereunder except for any abatement as may be expressly provided bore interest at the Effective Rate. Landlord has agreed to such reduction in this Lease. Notwithstanding anything the Base Rent to provide Tenant with the economic equivalent of interest on such Collateral, and in return Tenant has agreed to the contrary contained hereinprovisions of the Pledge Agreement that excuse the actual payment of interest on the Accounts. By incorporating such reduction of Base Rent into the formulas above, so long as 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 is not then 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 Default under subparagraph 8.(ac), and for purposes of any financial reports that this LeaseLease requires of Tenant from time to time, Tenant shall not be required to pay may report Base Rent for as if there had been no such reduction and as if the period commencing on Collateral from time to time required by the Rent Commencement Date through Pledge Agreement had been maintained in Accounts bearing interest at the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodEffective Rate.
Appears in 1 contract
Sources: Lease Agreement (3com Corp)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy Upon execution of this Lease to LandlordLease, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord the first payment of Monthly Base Rent, FOE and Taxes payable under the Lease, and thereafter Tenant shall pay all such payments in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before demand no later than the first day of each calendar month during following the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Commencement Date (prorated for any fractional calendar month). Tenant Laboratory 8▇▇ shall make all payments to Landlord (or to such other party or at such location as Landlord may from time to time specify in writing) by Electronic Fund Transfer or Automated Clearing House. Tenant’s payment obligations and ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the ’s obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to anot ▇▇▇▇▇, reduce, reduce or set-off any Rent (as defined in Section 5) due hereunder amounts payable except for any abatement as may be expressly provided in this Lease. Notwithstanding anything to the contrary contained hereinWithout limiting Landlord’s other rights and remedies, so long as if Tenant is not then delinquent in Default under this Leaseany payment due for more than 5 days, Tenant shall pay to Landlord on demand as a late charge (and not be required as a penalty) an amount equal [***] percent [***]% of the delinquent sum. FOE represents payment for Landlord’s costs incurred for insurance premiums (see Section 9), 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 pay Base Rent for the period commencing tax parcel on which the Rent Commencement Date through the date that Building is 365 days after the Rent Commencement Date situated (the “Subsequent Abatement Period”)see Section 8) as estimated by Landlord from time to time. Tenant shall commence paying full Base Rent on the day immediately 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 expiration 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 size of the Subsequent Abatement Period. For the avoidance of doubtPremises, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodBuilding, or Project.
Appears in 1 contract
Sources: Lease Agreement (ERock, Inc.)
Base Rent. A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, 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 deliver to Landlordbecome due under this Lease (including, concurrent with Twithout limitation, any charges for replacement of electric lamps and ballasts and any other services, goods or materials furnished by Landlord at Tenant’s request), all of which hereinafter may be collectively called “Rent.” Rent payments shall be sent to: CB ▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). 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 expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇, ▇▇▇▇▇ ▇▇▇/▇▇ ▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇.)Attn: Property Manager In addition Tenant shall pay and be liable for, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under the terms and conditions of this Lease. Payments 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 any fractional each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly instalments of the first day of each calendar month shall be proratedduring 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. Notwithstanding anything to If the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs 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 month, then Tenant shall pay to Landlord the prorated instalments of Base Rent and Additional Rent for such partial month or months shall be prorated, based on the day immediately following the expiration number of the Subsequent Abatement Period and the prepaid Base days in such month. Tenant’s covenant to pay Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to independent of every other covenant set forth in this Lease.
B. To the first full calendar month following extent allowed by law, all instalments of Rent not paid within five (5) days of when due shall bear interest at the expiration of Default Rate from the Subsequent Abatement Perioddate due until paid. The obligation of In addition, if Tenant fails to pay any instalment of Base Rent and Additional Rent or any other sums item of Rent when due and payable hereunder, a “Late Charge” equal to Landlord five percent (5%) of such unpaid amount will be due and the obligations of Landlord under this Lease are independent obligations. payable immediately by Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement PeriodLandlord.
Appears in 1 contract
Base Rent. Tenant shall deliver pay, without notice or demand, to Landlord or Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, agent at the Base Rent due management office for the calendar month Building, or at such other place as Landlord may from time to time designate in which the day writing, in cash or other immediately following the expiration available good funds, base rent (“Base Rent”) as set forth in Section 8 of the Subsequent Abatement Period occurs (orSummary, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date payable in which the day immediately following the expiration equal monthly installments as set forth in Section 8 of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord Summary in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent advance on or before the first day of each calendar and every month starting on the Rent Commencement Date and continuing during the Term hereof after the expiration remainder of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodLease Term, in lawful currency without any setoff or deduction whatsoever. The Base Rent and Additional Rent for the first full month and partial month of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Lease Term in which Base Rent for any fractional calendar month is payable hereunder shall be proratedpaid at the time of Tenant’s execution of this Lease. Notwithstanding anything to If any rental payment date (including the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs Rent Commencement Date) falls on a day of the month other than the first day of such month or if any rental payment is for a calendar period which is shorter than one month, then Tenant the rental for any such fractional month shall pay to Landlord the prorated Base Rent for such partial month be a proportionate amount of a full calendar month’s rental based on the day immediately following proportion that the expiration number of days in such fractional month bears to the Subsequent Abatement Period and number of days in the prepaid Base Rent delivered by Tenant pursuant calendar month during which such fractional month occurs. All other payments or adjustments required to this first sentence be made under the terms of this Section 3(a) Lease that require proration on a time basis shall be applied prorated on the same basis. Notwithstanding the preceding provisions of this Article 3 to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇contrary, 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 herein, so long as that Tenant is not then in Default default under this Lease, Tenant shall not be required to pay the Base Rent due for the period commencing on last full calendar month of the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date Lease Term (the “Subsequent Rent Abatement Period”) shall be fully abated (the “Abated Rent”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Tenant’s Share of Operating Expenses Expenses, Tax Expenses, and all other amounts payable under Utilities Costs due pursuant to the terms of this Lease during the Subsequent Rent Abatement Period. Furthermore, if a material default beyond any notice and cure period by Tenant shall occur during the Rent Abatement Period, the Abated Rent shall be immediately due and payable.
Appears in 1 contract
Sources: Lease (Atlas Crest Investment Corp.)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant Subtenant shall pay to Landlord in advance, without demand, abatement, deduction or set-offoff to Sublandlord Base Rental (the "Base Rent") for the Sublease Premises in the amounts set forth below. Upon the written agreement of the Landlord, Sublandlord, and the Subtenant, Subtenant may be directed to pay the Base Rent directly to the Landlord, provided Subtenant delivers to Sublandlord copies of all bills received and payments made for the Base Rent to the Landlord. In the event that Subtenant defaults in any payments made directly to Landlord, Landlord shall give notice of such default to Sublandlord within ten (10) days of default and Sublandlord shall be allowed, but not required, to cure such default within ten (10) days of receive of notice from the Landlord. Notwithstanding the forgoing, Base Rent shall not commence until the Commencement Date, provided, however in the event that Sublandlord vacates the Sublease Premises after March 19, 2001, the Base Rental shall abate until April 1, 2001, at which time the first rental payment sh▇▇▇ ▇e due. In the event that Sublandlord fails to vacate the Sublease Premises prior to 5:00 PM CST on May 23, 2001, Subtenant, in its sole discretion, shall have the right to terminate this Sublease Agreement without penalty by providing Sublandlord written notice of its election to terminate by 5:00 PM CST on May 26, 2001. Rentable From To /Sq. Ft. /Year /Mo. ---- -- -------- -------- ---- Base Rent shall be payable in monthly installments of Base Rent in the amounts set forth above, and each such installment shall be due and payable in advance, starting on or before the Commencement Date and continuing on the first (1st) day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord thereafter. If this Sublease ends 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 pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the expiration of the Subsequent Abatement Period occurs begins on a day other than the first or last day of a calendar month, then Tenant shall pay to Landlord respectively, the prorated monthly installment of Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, reduce, or set-off any Rent (prorated except 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall commence paying full Base Rent on the day immediately following the expiration of the Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be required to pay Operating Expenses and all other amounts payable under the Lease during the Subsequent Abatement Periodabove.
Appears in 1 contract
Sources: Sublease (Ipayment Inc)
Base Rent. Tenant shall deliver to Landlord, concurrent with T▇▇▇▇▇’s delivery of an executed copy of this Lease to Landlord, the Base Rent due for the calendar month in which the day immediately following the expiration of the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in which the day immediately following the expiration of the Subsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on On or before the first day of each calendar month during the Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net MultiTerm, Tenant will pay to Landlord the Base Rent for such month. Tenant shall pay Fixed Minimum Rent and additional rent not payable elsewhere directly to Landlord by delivering such Rent to Landlord at the address set forth as follows: Casimir-Tenant Laboratory 8▇▇ Quince, LLC ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/▇▇▇▇▇ Tx - Page 4 Subsequent Abatement PeriodSuite 2 San Francisco, CA 94110 on or before the first day of each month or at such other place or address as Landlord may designate in written notice to Tenant. The records of the Bank of America or any other designated financial institution shall be conclusive as to when each payment was made, and as to whether any late charges are due. The acceptance of late charges and returned check charges by Landlord will not constitute a waiver of any Tenant default nor any other rights or remedies of Landlord. The initial Security Deposit is due and payable upon execution of this Lease. Monthly rent for any partial calendar month will be prorated. All sums and other charges payable by Tenant to Landlord hereunder shall be deemed rent. Base Rent, Additional Rent, as defined below, and all other amounts payable by Tenant, hereunder, shall be paid without deduction or offset and without prior notice or demand. All such amounts shall be paid in lawful currency money of the United States of AmericaAmerica and shall be paid to Landlord by wire or electronic transfer, cashier’s check or an automatic payment from Tenant’s bank account to Landlord’s account, in each case without cost to Landlord. A copy of a voided check has been provided to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”)Tenant. All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 8▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent for any fractional calendar month Amounts payable hereunder shall be prorateddeemed paid when actually received by Landlord. Notwithstanding anything in this Lease to the contrary contained hereincontrary, if the expiration of the Subsequent Abatement Period occurs on a day other than the first day of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be applied to the first full calendar month following the expiration of the Subsequent Abatement Period. The acknowledges Tenant's obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to a▇▇▇▇, 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 herein, so long as Tenant is not then in Default under this Lease, Tenant shall not be required to pay Base Rent for the period commencing on later than the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”)absolute and shall not be extended by any delay for any reason. Tenant shall commence paying full further acknowledges that this Lease is intended to be a triple net lease for the benefit of the Landlord. While the approximate square footage of the Premises may be used in the marketing of the Premises for purposes of comparison, the Base Rent on stated herein is NOT associated with the day immediately following stated square footage and is NOT subject to adjustment should the expiration actual size of the Subsequent Abatement PeriodPremises be determined to be different than the square footage set forth herein. For Tenant acknowledges that Tenant has been provided the avoidance of doubt, Tenant shall be required opportunity and has been advised to pay Operating Expenses and all other amounts payable under determine the Lease during the Subsequent Abatement Periodactual square footage prior to executing this lease agreement.
Appears in 1 contract
Sources: Industrial Lease Agreement (CLS Holdings USA, Inc.)