Common use of Base Rent Clause in Contracts

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law.

Appears in 3 contracts

Sources: Commercial Lease Addendum (Integral Systems Inc /Md/), Lease Agreement (Integral Systems Inc /Md/), Lease Agreement (Integral Systems Inc /Md/)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1sta) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee in United States dollars at the address for Landlord specified in the first paragraph of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If this Lease, during the Term hereof commences of this Lease the Base Rent as set forth in Section 1, except as otherwise set forth below. The Base Rent shall commence to accrue on any day other than the first day or expires on any day other than the last day of the monthCommencement Date; however, no Base Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basispayable until the Rent Commencement Date. On the Rent Commencement Date, and Tenant shall pay all succeeding installments Base Rent that has accrued from the Commencement Date (i.e. six (6) months of Base Rent payments). Thereafter, Tenant shall pay Base Rent monthly in accordance with this Article 4. All payments of Base Rent shall be paid made without notice in equal monthly installments in advance on the first (1st) day of each and every month of the Term hereof, commencing on the Rent Commencement Date. If the Rent Commencement Date falls on a date other than the first calendar day of a month, or the Termination Date falls on a date other than the last calendar day of a month, then the Base Rent due for such partial month shall be prorated based upon the actual number of days falling within said month. (b) Commencing as of the first day of the month of the fifth anniversary of the Commencement Date and on the first day of the month of each successive five (5) year period thereafter, there will be an adjustment (hereinafter referred to as the “Base Rent Adjustment”) in each component of Base Rent other than Turnover Rent calculated by adding to such component of Base Rent in effect during the term hereofimmediately preceding Year the product of: (i) such component of Base Rent multiplied by (ii) the positive percentage increase in the Consumer Price Index between Year 1 of such immediately preceding 5 Year period and Year 5 of such immediately preceding 5 Year period, provided that such Base Rent shall never be less than the Base Rent for the immediately preceding Year. Should The following example is included for illustration purposes regarding the calculation of the Base Rent Adjustment: if the Base Rent in effect prior to the Base Rent Adjustment is $30,000 per month and the positive percentage increase in the Consumer Price Index between Year 1 and Year 5 of the preceding 5 Year period is 5%, the Base Rent shall be adjusted as follows: $30,000 plus ($30,000 multiplied by 5% which equals $1500), such that the adjusted Base Rent shall be $31,500 for the next 5 Year period. (c) The “Consumer Price Index” shall be the Index for All Urban Consumers, U. S. Cities Average published by the Bureau of Labor Statistics of the U.S. Department of Labor. If the Consumer Price Index shall cease to be published, there shall be substituted therefor a price index published by the Bureau of Labor Statistics, or its successor government agency, which is intended to be representative of substantially similar changes in the cost of living as mutually agreed upon by Landlord and Tenant. (d) As used herein, “Turnover Rent” shall mean one and one half percent (1.5%) of all gross monthly sales defined as all sales of cannabis, cannabis-infused products and non-cannabis products sold by Tenant, any assignee of Tenant or any subtenants of the Premises. All sales as referenced in the preceding sentence shall include, without limitation, sales tracked through state approved tracking software and include sales to patients via the dispensary or delivery or, via wholesale transactions with a licensed Registered Marijuana Dispensary or other legal transactions permitted under Massachusetts law. Tenant hereby represents and warrants to Landlord that Tenant shall include provisions requiring subtenants of the Premises to pay Turnover Rent in all subleases entered into by Tenant with respect to the Premises. Landlord shall have the right to request confirmation of such representation from time to time. If Turnover Rent is payable as Base Rent, Tenant shall pay such Turnover Rent one month in arrears not later than ten (10) days following the end of the month for which Turnover Rent is payable. Tenant shall require monthly accounting of gross sales from all subtenants so that Tenant can determine the amount of Turnover Rent that shall be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultowed each month, and Tenant must cover said check with certified funds plus the penalty contained hereinshall provide copies of such monthly accounting records to Landlord when Tenant pays Turnover Rent. Landlord may also seek additional relief as provided by lawshall have the right to audit Tenant’s records with respect to the monthly gross sales of its subtenants for the purpose of confirming the Turnover Rent paid not more than once per year.

Appears in 3 contracts

Sources: Share Purchase Agreement (AmeriCann, Inc.), Share Purchase Agreement (AmeriCann, Inc.), Share Purchase Agreement (AmeriCann, Inc.)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay Landlord a total base rent ("Annual Base Rent") of Eight Hundred Eighty Three Thousand Two Hundred Three and No/100 Dollars ($833,203.00 ) payable in equal monthly installments ("Monthly Base Rent") of Seventy Three Thousand Six Hundred and 25/100 Dollars ($73,600.25) per month without notice, deduction, off-set any offset or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United Statesdeduction whatsoever. Monthly Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid payable in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late of this Lease, in lawful money of the United States of America, and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on made at the fifth (5th) day address of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent set forth above or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due elsewhere as an essential part of the cure of defaultdesignated by Landlord's written notice. If the Lease Term hereof commences shall commence on any day other than the first day or expires of a month, Tenant shall pay Landlord, on any day other than said commencement date, rent as provided for herein for such commencement month on a pro rata basis calculated based on the last day actual number of days in the commencement month, and the Monthly Base Rent paid by Tenant, if any, upon execution of this Lease shall be credited to the Monthly Base Rent due for the first full calendar month of the month, Lease Term. Rent for the fraction any such partial month of a month at the commencement and occupancy at the end of the Term term of this Lease will be prorated to be based on the actual number of days in the partial month. In addition to Monthly Base Rent, Tenant shall pay Landlord in advance on the first day of each month, a sum equal to any sales tax, tax on rentals, and any other charges, taxes and/or impositions now in existence or hereafter imposed in connection with renting the Premises or upon the amount of rent collected therefor. Said amounts shall be treated and collectible as rent. Nothing herein shall be taken to require Tenant to pay any part of any Federal or State taxes imposed upon the income of Landlord. Tenant shall be required to pay Landlord interest on any rent due that remains unpaid for five (5) days after its due date. Said interest will be computed from the due date at the maximum rate allowed by law. The Annual Base Rent and Monthly Base Rent due from Tenant shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawelsewhere in this Lease.

Appears in 2 contracts

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

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address Except as Landlord may notify Tenant of otherwise expressly provided for in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the this Lease, Tenant shall pay to Landlord an administrative fee the Minimum Annual Rent in the Monthly Rental Installments in advance, without demand, deduction or offset, on the Commencement Date and on or before the first day of $250.00 each and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part every calendar month thereafter during the Lease Term. The Monthly Rental Installments for partial calendar months shall be prorated. The parties agree that the Minimum Annual Rent shall be increased on each anniversary of the cure Commencement Date in an amount equal to the US Department of defaultLabor, Bureau of Labor Statistics Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), Seasonally Adjusted (SA), U.S. City Average, All Items, 1982-84=100 (herein collectively defined as "BLS Index") for the twelve (12) month period ending two (2) months prior to the expiration of the current lease year (as used herein, a "lease year" shall refer to the twelve (12) month period beginning on the Commencement Date, or anniversary thereof, as applicable). Notwithstanding the foregoing, in no event shall the Minimum Annual Rent payable during any subsequent lease year as adjusted hereby be less than a one percent (1%) increase over the Minimum Annual Rent paid during the immediately preceding lease year or more than a two and one-half percent (2.5%) increase over the Minimum Annual Rent paid during the immediately preceding lease year. Monthly Rental Installments shall be an amount equal to one twelfth (1/12) of the Minimum Annual Rent. Based on a Commencement Date of August 1, 2009, the initial twelve (12) month period shall be June 2009 through May 2010. The parties agree that the initial "BLS Index" shall be calculated by summing the individual one (1) month percent changes for the twelve (12) month period described above. By way of example, as illustrated on the chart attached hereto as Exhibit I, the "BLS Index" for the period June 2008 through May 2009 calculates to an aggregate negative (-) 1.5%. Therefore, in this instance, the minimum 1.0% increase shall apply. If the Term hereof commences Bureau of Labor Statistics shall discontinue publication of said "BLS Index" or shall adopt a new method of computing the "BLS Index", the parties agree to use a published price or cost index or published data as comparable as possible to the "BLS Index" prior to the change in such method. If the "BLS Index" has not been published for any of the time periods set forth above, Landlord shall use the most recent publication dates available. Notwithstanding anything contained in Section 1.01 (d) or (e), Landlord hereby excuses Tenant from the payment of Monthly Rental Installments for July 1, 2011 through October 31, 2011, July 1, 2012 through October 31, 2012, and July 1, 2015 through October 31, 2015 of the Lease Term. Notwithstanding anything to the contrary contained herein, in the event Tenant is in Default under this Lease beyond any applicable cure period on any day other than the first day or expires on any day other than the last day of the monthmonth of any excused rent payment, Rent for the fraction Tenant shall not be entitled to such excused rent. The payment of a month at the commencement and at the end of the Term any such excused rent shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base deducted from any Accelerated Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Difference or Accelerated Rent to which Landlord may collect $50.00 per day penalty maybe entitled under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawSection 13.02.

Appears in 2 contracts

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

Base Rent. As 4.1. During each Lease Year of the Commencement DateLease Term, Tenant covenants shall pay the Base Rent specified in Section 1.1. On the first day of the second Lease Year and agrees to timely pay on the first day of every Lease Year thereafter during the Lease Term (including the second and any succeeding Lease Year within any Renewal Term), the Base Rent in effect shall be adjusted as provided in Section 4.2. The Base Rent shall be due and payable in equal monthly installments, without notice, deductiondemand, off-set setoff or abatement to the Landlord at the Buildingdeduction (except as otherwise expressly provided in this Lease), or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during each Lease Year. If the term hereof. Rent Commencement Date is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on not the fifth (5th) first day of a month, then the Base Rent from the Rent Commencement Date until the first day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a following month at the commencement and at the end of the Term shall be adjusted pro rata prorated on a per diem basis, and all succeeding installments Tenant shall pay such prorated installment of the Base Rent shall be paid on the Rent Commencement Date. (a) Commencing on the first (1st) day of each the second (2nd) Lease Year and on the first day of every Lease Year thereafter, the Base Rent shall be adjusted to reflect increases in the cost of living in the following manner: (1) The Revised Consumer Price Index for Urban Wage Earners and Clerical Workers, 1982-84 Base Year, All Items, Washington, D.C.-MD-VA Metropolitan Area (CPI-W) as published by the Bureau of Labor Statistics of the United States Department of Labor (herein referred to as the "Index"), which is published for the bimonthly period that includes the month immediately preceding the Lease Year for which such adjustment is being made (herein referred to as the "Adjustment Index"), shall be compared with the Index published for the period twelve (12) months prior thereto (herein referred to as the "Beginning Index"). If the Adjustment Index has changed from the Beginning Index, the percentage change between the Beginning Index and the Adjustment Index shall be determined. There shall be added to such percentage change three and one-half (3 1/2) percentage points, and the resulting sum shall be referred to herein as the "Escalation Factor." For example, if the Adjustment Index is two percent (2%) higher than the Beginning Index in any particular year, then the Escalation Factor for such year shall equal five and one-half percent (5.5%), and if the Adjustment Index is one percent (1%) lower than the Beginning Index in any particular year, then the Escalation Factor for such year shall equal two and one-half percent (2.5%). (2) The Escalation Factor determined in Step (1) above shall be multiplied by the Base Rent in effect during the term hereofimmediately-preceding Lease Year to arrive at the amount of the increase in the Base Rent for such newly-commencing Lease Year. Should Tenant In no event, however, shall the amount of such increase be greater than two and 033/1000 percent (2.033%) of the Base Rent in defaulteffect during the immediately-preceding Lease Year. (3) The amount determined in Step (2) above (subject to the limitation set forth in the last sentence of Step (2)) shall be added to the Base Rent in effect during the immediately-preceding Lease Year to arrive at the Base Rent payable for such newly-commencing Lease Year. (b) In no event shall the Base Rent payable during any Lease Year be less than the Base Rent payable during the immediately preceding Lease Year. (c) If the Index is changed so that a base year other than 1982-84 is used, the Index used herein shall be converted in accordance with the conversion factor published by the Bureau of Labor Statistics of the United States Department of Labor. If the Index is discontinued or otherwise revised during the Lease Term, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised. (d) Promptly after the adjustment in the Base Rent is determined for each Lease Year, Landlord shall submit to Tenant a statement setting forth the amount of such adjustment and the computations by which it was determined. Since the actual increase in the Base Rent may collect $50.00 per day penalty not be determined until after the start of a new Lease Year, until the actual increase in the Base Rent is determined, Tenant shall make monthly payments of Base Rent in an amount equal to the monthly installments of Base Rent payable during the immediately preceding Lease Year. Promptly after receipt of a statement from Landlord setting forth the actual increase in the monthly installments of Base Rent for such Lease Year, the difference between the monthly payments paid by Tenant and the actual amount of Base Rent determined to be owing for such months shall be determined. If the actual amount determined to be owing is greater than Tenant's payments, the deficiency shall be paid by Tenant together with the next monthly installment of Base Rent due at least fifteen (15) days after the amount of the deficiency is determined. 4.3. All sums payable by Tenant under this provision Lease shall be paid to Landlord in legal tender of the United States by wire transfer (which Tenant agrees to utilize for regular monthly installments of Base Rent and additional rent, provided Landlord has furnished Tenant with accurate wiring instructions) or 18% interest under Paragraph 36by check (subject to collection), whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus at the penalty contained herein. address to which notices to Landlord are to be given or to such other party or such other address as Landlord may also seek additional relief as provided by lawdesignate 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.

Appears in 2 contracts

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

Base Rent. As Base Rent shall equal the following amounts: 1 $ 35.00 $ 1,189,020.00 $ 99,085.00 2 $ 35.96 $ 1,221,633.12 $ 101,802.76 3 $ 36.95 $ 1,255,265.40 $ 104,605.45 4 $ 37.97 $ 1,289,916.84 $ 107,493.07 5 $ 39.01 $ 1,325,247.72 $ 110,437.31 6 $ 40.08 $ 1,361,597.76 $ 113,466.48 Tenant shall pay Base Rent to Landlord in equal monthly installments (“Monthly Base Rent”) in advance on the first day of each calendar month during the Commencement DateTerm, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before except that the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments monthly installment of Base Rent shall be paid upon execution of this Lease. Notwithstanding the foregoing, Landlord shall grant to Tenant a “rent holiday” from the payment of the installments of Monthly Base Rent for the four (4) months following the Lease Commencement Date (the “Free Rent Period”). During such Free Rent Period, the Monthly Base Rent shall be abated (such rental abatement being hereinafter referred to as the “Free Rent Allowance”); provided, however, that (i) the Free Rent Period and the granting of the Free Rent Allowance as provided hereunder shall not affect the Lease Commencement Date pursuant to Section 2.A. hereof, (ii) Tenant shall remain obligated during the Free Rent Period to perform all of Tenant’s obligations under this Lease except as expressly aforesaid (including, but not limited to, the payment of all Additional Rent coming due under this Lease), and (iii) in the event of any termination of this Lease by Landlord based upon a Default hereunder by Tenant before the end of the Free Rent Period, any remaining Free Rent Allowance hereunder shall be of no force or effect. If the first day following the last day of the Free Rent Period (such date being hereinafter referred to as the “Rent Commencement Date”) is a date other than the first day of a month, then Monthly Base Rent for the period commencing with and including the Rent Commencement Date and ending on and including the day prior to the first day of the following month shall be prorated at the rate of one-thirtieth (1/30th) of the Monthly Base Rent per day and shall be due and payable on the Rent Commencement Date and the first (1st) day full payment of each month during Monthly Base Rent shall be applied to the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever first full monthly installment of Monthly Base Rent which is greater. Any rent check returned for insufficient funds shall constitute an event of default, due and Tenant must cover said check with certified funds plus payable immediately following the penalty contained herein. Landlord may also seek additional relief as provided by lawRent Commencement Date.

Appears in 2 contracts

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

Base Rent. As of (a) Commencing on the Rent Commencement Date, Tenant covenants and agrees shall pay Base Rent in the amounts set forth in Item 9 of the Summary of Basic Terms; provided that if the First Reduction of the Security Deposit is to timely pay without notice, deduction, off-set or abatement occur prior to the Landlord at date on which the Building, or such other address as Landlord may notify Tenant first monthly installment of in writing, yearly and every year during the Term hereofBase Rent would be due, the first monthly installment of Base Rent in lawful money the amount of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and $46,870.83 shall be paid in advance on or before as a condition of such First Reduction. (i) The annual Base Rent per square foot for the first Extension Term will be ninety percent (1st90%) day of each month during the term hereofannual Market Rent per square foot, determined in accordance with this Section 4.1(b); provided, however, that in no event shall the annual Base Rent per square foot for the Extension Term be less than the annual Base Rent per square foot for the last Lease Year of the Initial Term. Rent is considered late Within sixty (60) days after Tenant gives to Landlord written notice of exercise of the extension option pursuant to Section 2.4(d), Landlord and Tenant shall be in default if simultaneously exchange proposals setting forth their opinions as to the annual fair market base rent is received after 5:00 o’clock p.m. on per square foot for the fifth Premises for the Extension Term (5th) day of the month“Market Rent”). A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, and Tenant shall pay negotiate in good faith for fifteen (15) days after such exchange of proposals (such period being herein called the “Negotiation Period”) to Landlord an administrative fee attempt to agree upon the Market Rent, and, in the course of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of such negotiations, each party may from time to time submit modified proposals to the cure of defaultother. If the Term hereof commences on any day other than parties agree upon the first day or expires on any day other than Market Rent prior to the last day determination of the montharbitrator pursuant to Section 4.1(b)(ii), whether such agreement is reached during or after the Negotiation Period, the Market Rent shall be as so agreed. (ii) If the parties are unable to agree upon the Market Rent within the Negotiation Period, then each party shall, upon selection of an arbitrator pursuant to Section 4.1(b)(iii), simultaneously exchange and submit to the arbitrator for binding arbitration a proposal as to the Market Rent. The “Market Rent” shall be determined as of the commencement of the Extension Term at the then current arms-length negotiated base rents being charged to new (or renewal tenants for renewals and extensions which do not have pre-negotiated contract rents) for comparable space in comparable buildings located in the market area of the Project, taking into account and giving effect to, in determining comparability, without limitation, such considerations as lease term and the age, size, location, condition, and amenities of the Building. The Market Rent may include escalations at various points during the Extension Term. For purposes of such determination, the Premises shall be considered to be vacant and to be rented as a whole for its highest and best use with the degree of finishes and level of leasehold improvements then generally afforded as “building standard” by landlords in the City of Cambridge. The arbitrator shall also consider and incorporate into the computation the existing improvements to the Premises. Neither party shall be deemed under any compulsion to rent or lease space. The arbitrator shall not have the right to modify any other provision of the Lease except Base Rent. Within thirty (30) days after both parties have submitted such proposals to the arbitrator, the arbitrator shall select one of the proposals as more closely approximating the Market Rent appropriate for the Extension Term, and, unless the parties have then agreed upon the Market Rent, the proposed Market Rent set forth in such proposal selected by the arbitrator shall be deemed to be the Market Rent. (iii) If the parties are unable to agree upon the Market Rent within the Negotiation Period, then the parties shall, within fifteen (15) days after the end of the Negotiation Period (such fifteen (15) day period being herein called the “Selection Period”), attempt to agree upon an arbitrator to whom to submit the determination of Market Rent for binding arbitration pursuant to Section 4.1(b)(ii). If the fraction of a month at parties are unable to agree upon an arbitrator within the commencement and Selection Period, then, at the end of the Term Selection Period, each party shall select an arbitrator and, within fifteen (15) days after the end of the Selection Period, the arbitrators shall agree upon an arbitrator to whom the determination of Market Rent shall be adjusted pro rata on submitted for binding arbitration pursuant to Section 4.1(b)(ii). If such arbitrators are unable to agree promptly upon an arbitrator, an arbitrator shall be selected by the American Arbitration Association. Any arbitrator selected by either party, by the arbitrators selected by the parties or by the American Arbitration Association shall be independent of both parties and shall have such experience, either as a per diem basislicensed real estate broker or salesperson or as an appraiser, as would qualify such arbitrator as an expert with respect to leasing terms in the City of Cambridge. Such arbitrator shall make the determination required pursuant to Section 4.1(b)(ii) within thirty (30) days of selection. The parties shall share equally the fees and all succeeding installments expenses of the arbitrator to whom the determination of Market Rent is submitted. Landlord and Tenant shall each pay the fee of the arbitrator selected by it. In making its determination of Market Rent, the arbitrator shall not make any downward adjustment to account for any savings to be realized by Landlord with respect to leasing commissions or tenant improvements. (c) Base Rent shall be payable in equal monthly installments of one-twelfth (1/12th) of the annual Base Rent then in effect (prorated for any partial months) and shall be paid without offset for any reason, in advance, on the first (1st) day of each calendar month during from and after the term hereofRent Commencement Date. Should Base Rent and Additional Rent shall be paid as specified by Landlord either (i) by an “electronic funds transfer” system arranged by and among Tenant, Tenant’s bank and Landlord, or (ii) by check sent to Landlord’s office c/o “▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇,” or at such other place as Landlord shall from time to time designate in writing. The parties acknowledge and agree that the obligations owing by Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest Section 4.1 are rent reserved under Paragraph 36this Lease, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultall purposes hereunder, and Tenant must cover said check with certified funds plus are rent reserved within the penalty contained herein. Landlord may also seek additional relief as provided by lawmeaning of Section 502(b)(6) of the Bankruptcy Code or any successor provision thereto.

Appears in 2 contracts

Sources: Sublease Agreement (Genocea Biosciences, Inc.), Sublease Agreement (Genocea Biosciences, Inc.)

Base Rent. As (a) Subject to adjustment as hereinafter provided in Section 4.3, and except as may be otherwise expressly provided in this Lease, Lessee shall pay to Lessor the Base Rent for the Premises set forth in Section 1.7 of the Commencement DateBasic Lease Provisions, Tenant covenants and agrees to timely without offset or deduction except as expressly provided herein. Lessee shall pay without notice, deduction, off-set or abatement to Lessor upon execution hereof the Landlord at advance Base Rent described in Section 1.8 of the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year Basic Lease Provisions. Rent for any period during the Term hereof, hereof which is for less than one month shall be prorated based upon the actual number of days of the calendar month involved. Rent shall be payable in lawful money of the United States. States to Lessor at the address stated herein or to such other persons or at such other places as Lessor may designate to Lessee in writing. (b) The parties have agreed that the length and duration of the Design Period and the Construction Period (as such terms are defined in the Work Letter) notwithstanding, in the event that the Commencement Date shall not have occurred by the end-of the 120th day following the commencement of the Design Period, Lessee shall, subject to Lessor Delays and Force Majeure Delays, pay as special Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant an amount equal to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each $22,291.00 per month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on for the fifth (5th) day and sixth months following the commencement of the month. A penalty of fifty dollars Design Period ($50.00subject to pro ration for any partial calendar months). (c) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord Lessee is required prevented from using, and does not use, the Premises or any portion thereof for five (5) consecutive business days or ten (10) business days in any twelve (12) month period (the “Eligibility Period”) as a result of any damage or destruction to post a 3-day notice for non-payment of rent the Premises or for any other breach repair, maintenance or alteration performed by Lessor after the Commencement Date, which interferes with Lessee’s use of the LeasePremises, Tenant shall pay or any failure to Landlord provide services or access to the Premises or because of an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part eminent domain proceeding or because of the cure presence of defaultHazardous Substances in, on or around the Building, the Premises or the Site which could, in Lessee’s business judgment and taking into account the standards, guidances and recommendations included in the definition of Applicable Laws above with respect to Hazardous Substances, pose a health risk to occupants of the Premises, that is not, in any case, caused by or attributable to Lessee or its agents, employees, invitees or contractors, then Lessee’s rent shall be abated or reduced, as the case may be, for such time after expiration of the Eligibility Period that Lessee continues to be so prevented from using, and does not use, the Premises or a portion thereof, in the proportion that the rentable area of the portion of the Premises that Lessee is prevented from using, and does not use, bears to the total rentable area of the Premises. However, in the event that Lessee is prevented from conducting, and does not conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Lessee to effectively conduct its business therein, and if Lessee does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Lessee is so prevented from effectively conducting its business therein, the rent for the entire Premises shall be abated; provided, however, if Lessee reoccupies and conducts its business from any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Lessee from the date such business operations commence. If Lessee’s right to abatement occurs during a free rent period which arises after the Term hereof commences on any day other than the first day or expires on any day other than the last day of the monthCommencement Date, Rent Lessee’s free rent period shall be extended for the fraction number of days that the abatement period overlapped the free rent period (the “Overlap Period”). Lessor shall have the right to extend the Expiration Date for a month at period of time equal to the commencement and at Overlap Period if Lessor sends a notice to Lessee of such election within ten (10) days following the end of the Term extended free rent period. To the extent Lessee is entitled to abatement because of an event covered by Lease Sections 9 or 14, then the Eligibility Period shall not be applicable and Lessee shall be adjusted pro rata on a per diem basisentitled to rent abatement, and all succeeding installments as of Base Rent shall be paid on the first (1st) day occurrence of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawsuch event.

Appears in 2 contracts

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

Base Rent. As part of the Commencement Dateconsideration of the execution of this Lease, Tenant Lessee covenants and agrees and promises to timely pay without noticebase rent ("BASE RENT") for the Initial Term described in Section 2.A above, deduction, off-set or abatement to the Landlord at the Buildingrate of $261,912.00 per year, payable in monthly installments of $21,826.00. Base Rent during an Extension Term shall be the "Fair Market Rent" as defined in, and determined pursuant to, the provisions of the Rider, and shall be payable in equal monthly installments. Until Lessor gives Lessee other instructions, Base Rent and all other amounts due under this Lease (collectively, "ADDITIONAL RENT") shall be payable by Lessee to Lessor at the address of Lessor set forth below (or at such other address as Landlord Lessor may notify Tenant of from time to time specify in writingwriting to Lessee): Hewlett-Packard Company c/o MacMunnis, yearly and every year during the Term hereofInc. ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ The Base Rent payable hereunder shall be payable in lawful money legal tender of the United States. Base Rent is payable States of America, in advance, without demand and without offset, abatement or deduction (except as otherwise expressly provided in this Lease), commencing on September 15, 2004 (the monthly installments set forth "RENT COMMENCEMENT DATE") and continuing on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event Lease Term thereafter; provided, however that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments installment of Base Rent shall be paid on September 15, 2004. Base Rent for the first period September 15 - 30, 2004, and for any partial month at the expiration or earlier termination of this Lease, shall be pro-rated. Any Base Rent or Additional Rent (1stcollectively, "RENT") day not received by the Lessor within five (5) days after the date on which the same is due hereunder, shall be accompanied by a late charge of 5% of the amount of such overdue installment of Rent. Notwithstanding anything to the contrary contained in this Lease, provided that no "Event of Default" (as hereinafter defined) has occurred, Lessee shall be entitled to a credit against each month monthly installment of Base Rent due and payable during the term hereofInitial Term in the amount of $2,598.33 per month, commencing on the Rent Commencement Date. Should Tenant In the event that this Lease is terminated by reason of the occurrence of an Event of Default hereunder, Lessee shall not be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event entitled to such credit with respect to any period from and after the effective date of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawsuch termination.

Appears in 2 contracts

Sources: Lease Agreement (Skillsoft Public Limited Co), Lease Agreement (Skillsoft Public Limited Co)

Base Rent. As Commencing upon the Ground Lease Commencement Date and continuing through the earlier of (1) eighteen (18) months following the Ground Lease Commencement Date or (2) the date the Tenant provides written notice to the Landlord that Tenant has completed its environmental site preparation work (the “Base Rent Adjustment Date”), the base rent for the Site (“Base Rent”) shall BE [***] per annum, payable in equal installments of [***] per month and after the Base Rent Adjustment Date shall thereafter be [***] per annum, payable in equal installments of [***] per month, adjusted upward five years after the date on which the Base Rent increases to [***] per annum and every five (5) years thereafter during the Term by a percentage equal to the greater of [***] or the CPI Percentage Increase (as defined below), but in no event to exceed an adjustment during any Adjustment Period (as defined below) of greater than [***]. The period from the Base Rent Adjustment Date through the date five years thereafter, and each five (5) year period thereafter shall be defined herein as an “Adjustment Period.” Any upward adjustment based on a CPI Percentage Increase (as defined below) to any payment under this Ground Lease shall hereinafter be referred to as a “CPI Adjustment.” Except for the first payment of Base Rent hereunder on the Ground Lease Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to Base Rent will be due each month on the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money 1st day of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due month and shall be paid in advance on or before payable by the 15th day of that month; provided, however, that: (i) the first (1st) day payment of each month during the term hereof. Base Rent is considered late and Tenant shall be in default due ten (10) days following the Ground Lease Commencement Date and, if rent the Ground Lease Commencement Date is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day date other than the first day or expires on of the month, the first payment of Base Rent shall be in a prorated amount for the period of time between the Ground Lease Commencement Date and the next following first day of the month; and (ii) the first payment of Base Rent due upon the commencement of any new Adjustment Period will be owed and paid one month after the commencement of that Adjustment Period in order to permit the Tenant to calculate the CPI Percentage Increase, as set forth below and (iii) the last payment of Base Rent shall be in a prorated amount for the period of time between the immediately preceding first day other than of the month and the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawTerm.

Appears in 2 contracts

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

Base Rent. As of From and after the Initial Premises Commencement Date, Tenant covenants during each month of the Term of this Sublease, Subtenant shall pay as base rent for the Premises (“Base Rent”) as follows: 61 - 72 115,466 $5.88 $678,830.07 *Provided that Subtenant is not in default beyond applicable notice and cure periods of the terms and conditions of this Sublease, Sublandlord agrees to timely ▇▇▇▇▇ the obligation of Subtenant to pay without noticeBase Rent for months 7-18 of the Term (the “Conditional Rent”). Notwithstanding the foregoing, deductionhowever, off-set or during such abatement period, Subtenant shall be responsible for the payment of all Additional Rent allocable to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the monthPremises then subleased hereunder. In the event that Landlord is required of a default by Subtenant beyond any applicable notice and cure periods and the expiration or earlier termination of this Sublease, Sublandlord shall be entitled to post a 3-day notice for non-payment of rent or for any other breach recover the unamortized portion of the LeaseConditional Rent (i.e., Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part the unamortized portion of the cure Conditional Rent shall be deemed not to have been abated, and shall become immediately due and payable as unpaid Rent earned, but due at the time of such default). *The above chart assumes that the Expansion Premises Commencement Date occurs on the first day of the twenty-fifth (25th) month of the Term of this Sublease. If the Term hereof commences Expansion Premises Commencement Date occurs on any day other than an earlier or later date, the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term above chart shall be deemed adjusted pro rata to provide for Subtenant to pay Base Rent on a per diem basis, the increased square footage commencing on the Expansion Premises Commencement Date only. Base Rent and all succeeding installments of Base Additional Rent shall be paid to Sublandlord without demand, deduction, set-off or counterclaim, in advance on the first (1st) day of each calendar month during the term hereofTerm of this Sublease, and in the event of a partial rental month, Base Rent and Additional Rent shall be prorated on the basis of a 365-day year. Should Tenant be in defaultIf Base Rent or Additional Rent abates under the Master Lease as to a portion of the Premises as to which this Sublease has commenced, Landlord Base Rent or Additional Rent, as the case may collect $50.00 per day penalty be, shall ▇▇▇▇▇ on a pro-rata basis under this provision Sublease. If Sublandlord does not deliver the Lab Space to Subtenant in the required condition on or 18% interest under Paragraph 36before December 31, whichever is greater. Any rent check returned 2020, Subtenant shall be entitled to a day-for-day credit in its Base Rent and Additional Rent obligations (calculated on a pro-rata rentable square foot basis) for insufficient funds shall constitute an event of defaultthe period commencing on January 1, 2021 and Tenant must cover said check with certified funds plus ending on the penalty contained herein. Landlord may also seek additional relief as provided by lawdate on which Sublandlord delivers the Lab Space to Subtenant in the required condition.

Appears in 2 contracts

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

Base Rent. A. As part of the Commencement Dateconsideration for the execution of this Lease Agreement, Tenant covenants and agrees and promises to timely pay without notice, deduction, off-set or abatement as base rent according to the following schedule (the “Base Rent”): 1-60 $ 20.00 $ 1,381,000.00 $ 115,083.33 61-120 $ 21.50 $ 1,484,575.00 $ 123,714.58 Base Rent shall be payable to Landlord at the Building, address specified in Section 32 below (or such other address as may be designated by Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent writing from time to time) in lawful money legal tender of the United States. Base Rent is payable States of America, in the monthly installments set forth advance, without demand, set-off or counterclaim, on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereof and any extensions or renewals hereof. ; provided, however, the first monthly payment of Base Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. made on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the monthCommencement Date. In the event the final determination of Net Rentable Area within the Leased Premises is not the same as the approximate total square footage of the Leased Premises set forth in Section 1 of this Lease Agreement, then all terms and provisions of this Lease Agreement that are dependent upon the size of the Leased Premises, including, without limitation, Base Rent and Tenant’s pro rata share, will automatically be altered without the need for any further documentation; provided that Tenant agrees to execute an amendment to this Lease Agreement reflecting such changes within ten (10) days after Landlord is required delivers to post Tenant a 3-day notice for written lease amendment reflecting such changes. B. All Rent (as hereinafter defined) shall bear interest from the date due until paid at the greater of (i) two percent (2%) above the “prime rate” per annum of JPMorgan Chase Bank, a New York banking corporation or its successor (“Chase”) in effect on said due date (or if the “prime rate” be discontinued, the base reference rate then being used by Chase to define the rate of interest charged to commercial borrowers) or (ii) twelve percent (12%) per annum (the “Interest Rate”); provided, however, in no event shall the rate of interest hereunder exceed the maximum non-payment usurious rate of rent or for any other breach interest (hereinafter called the “Maximum Rate”) permitted by the applicable laws of the LeaseState of Texas or the United States of America, Tenant shall pay and to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part the extent that the Maximum Rate is determined by reference to the laws of the cure State of default. Texas, the Maximum Rate shall be the weekly ceiling (as defined and described in Chapter 303 of the Texas Finance Code, as amended) at the applicable time in effect. C. If the Term hereof of this Lease as described above commences on any day other than the first day of a calendar month or expires terminates on any day other than the last day of the a calendar month, Rent for then the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent for such month or months shall be prorated and the installment or installments so prorated shall be paid on in advance. The payment for such prorated month shall be calculated by multiplying the first (1st) day monthly installment by a fraction, the numerator of each month which shall be the number of days of the Term occurring during said commencement or termination month, as the term hereof. Should Tenant be in default, Landlord case may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultbe, and Tenant must cover the denominator of which shall be the total number of days occurring in said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawcommencement or termination month.

Appears in 2 contracts

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

Base Rent. As (a) Tenant's Base Rent for the Expansion Space shall be at the following rate (and otherwise payable in accordance with the provisions of Section 4 of the Existing Lease) commencing on the Expansion Space Commencement Date: Months After Rate Per Expansion Space Rentable Monthly Commencement Date Square Foot Rent ----------------- ----------- ------- 1-36 $1.30 $10,007.40 37-48 $1.34 $10,315.32 49-60 $1.38 $10,623.24 (b) Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the Existing Lease through December 31, 2000. Thereafter, for the remainder of the Term, Tenant shall pay Base Rent for the Existing Premises at the same rate per rentable square foot as Tenant is then paying for the Expansion Space (including increases at the same times as the Base Rent for the Expansion Space increases) as set forth in the chart in Section 5(a) above. By way of example only, during the forty-sixth (46th) month following the Expansion Space Commencement Date, Tenant covenants and agrees to timely shall pay without notice, deduction, off-set or abatement to Base Rent for the Landlord at Existing Premises in the Building, or such other address as Landlord may notify Tenant amount of in writing, yearly and every year during the Term hereof, the Rent in lawful money $14,395.62 per month (based on $1.34 times 10,743 rentable square feet). Section 5 of the United States. Base Rent is payable in Second Amendment and Section 6 of the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and Third Amendment shall be paid deleted in advance on or before their entirety as of January 1, 2001. (c) Notwithstanding the first (1st) day foregoing, concurrent with Tenant's execution and delivery of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Leasethis Fourth Amendment, Tenant shall pre-pay to Landlord an administrative fee the first month's Base Rent owned for the Expansion Space in the amount of Ten Thousand Seven and 40/100 Dollars ($250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums 10,007.40)(which amount shall be applied to the Base Rent due as an essential part of on the cure of defaultExpansion Space for the first calendar month following the Expansion Space Commencement Date). If Should the Term hereof commences on Expansion Space Commencement Date be any day other than the first day or expires on any day other than the last day of the a calendar month, then the Base Rent for the fraction of a first partial month at and the commencement and at the end last partial month shall be equitably pro rated. Tenant shall pay to Landlord within fifteen (15) business days of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Expansion Space Commencement Date the Base Rent shall be paid due on the Expansion Space for the first (1st) day partial month of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawTerm.

Appears in 2 contracts

Sources: Office Space Lease (Adexa Inc), Office Space Lease (Adexa Inc)

Base Rent. As a. Tenant shall 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 Commencement DateTerm, at Landlord's principal office as indicated in Section 1 above. The first month's installment of Premises "A" Base Rent shall be payable upon the execution of this Lease. If the Term commences other than on the first day of a calendar month, then the installments of Base Rent for the first and last calendar months of the 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 covenants and agrees to timely pay Landlord hereunder shall be paid, without notice, set-off or deduction, off-set or abatement in lawful currency of the United States of America to the Landlord at the Buildingaddress set forth in Section 1 hereof, or at such other address as Landlord may notify Tenant of from time to time designate in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant writing to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the monthTenant. In the event that Landlord is required to post a 3-day notice for non-payment of any such rent or other sums shall be unpaid on the expiration or termination hereof, the obligation therefor shall survive such expiration or termination of this Lease. In order to partially compensate Landlord for any other breach the extra expense incurred in the handling of the Leasedelinquent payments, Tenant agrees to pay Landlord a late charge equal to the product obtained by multiplying each installment of Fixed Rent Or Additional Rent not paid within ten (10) days after its due date by five (5%) percent. Notwithstanding the 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 pay -------- ------- have the right to assess such late charge without notice to Tenant in the event Landlord an administrative fee has given Tenant notice of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month past delinquencies at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month least once during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawprior 12 months.

Appears in 1 contract

Sources: Lease Agreement (Astea International Inc)

Base Rent. As of From and after the date (the “Rent Commencement Date”) that is four (4) months after the Commencement Date, Tenant covenants and agrees Sub-Sub-subtenant shall pay to timely pay without noticeSub-Sub-sublandlord, deductionas rent for the Sub-Sub-sublease Premises, offbase annual rent (“Base Rent”) as set forth below. Sub-set or abatement to Sub-sublandlord hereby acknowledges receipt of Base Rent in the Landlord at amount of $162,925.67 for the Building, or such other address as Landlord may notify Tenant first full calendar month of in writing, yearly and every year during the Term hereof, following the Rent in lawful money of the United StatesCommencement Date. Base Rent is shall be payable in the equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid installments, in advance on or before prior to the first day of each month, as follows: (a) Commencing on the Rent Commencement Date and continuing until the Expiration Date occurs, Sub-Sub-subtenant shall pay to Sub-Sub-sublandlord as base rent the sum of ONE MILLION NINE HUNDRED FIFTY-FIVE THOUSAND ONE HUNDRED EIGHT AND 00/100 DOLLARS ($1,955,108.00) per annum, payable in equal monthly installments of $162,925.67. (b) If the Rent Commencement Date shall occur on a date other than the first (1st) day of each any calendar month, the Base Rent payable hereunder for such month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. prorated on a per diem basis and shall be paid on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultRent Commencement Date. If the Term hereof commences Expiration Date shall occur on any day other than the first day or expires on any day date other than the last day of the a calendar month, Base Rent for the fraction of a such month at the commencement and at the end of the Term shall be adjusted pro rata prorated on a per diem basis, and all succeeding installments of Base Rent shall be paid basis based on the first number of days in the Term occurring in such month. (1stc) day Promptly after the Commencement Date and the Rent Commencement Date are determined, Sub-Sub-sublandlord and Sub-Sub-subtenant, at either Sub-Sub-sublandlord’s or Sub-Sub-subtenant’s request, will execute an agreement setting forth each of each month during the term hereofabove dates. Should Tenant be Sub-Sub-subtenant’s or Sub-Sub-sublandlord’s failure or refusal to sign the same shall in default, Landlord may collect $50.00 per day penalty under this provision no event affect the determination of such dates or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by laweither party’s obligations hereunder.

Appears in 1 contract

Sources: Sub Sub Sublease (Datadog, Inc.)

Base Rent. As of the Commencement Date, Tenant covenants and agrees Lessee shall pay to timely pay without notice, deduction, off-set or abatement to the Landlord Lessor at the Building, office of Lessor or at such other address place as Landlord Lessor may notify Tenant designate, the annual Base Rent (hereinafter referred to as "Base Rent") as follows: Annual Base Rent Monthly Base Rent Commencement Date - 07/31/00 $66,924.00 $5,577.00 08/01/00 - 07/31/01 $68,940.00 $5,745.00 08/01/01 - 05/31/02 $71,004.00 $5,917.00 which shall be paid and due in equal monthly installments, each in advance on the first day of in writing, yearly each and every year calendar month during the Term hereof, and at the Rent in lawful money then current rate for fractions of a month if the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and Term shall be paid in advance on commence or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires terminate on any day other than the last day of a month. The Base Rent, Adjusted Rent (as hereinafter defined), Estimated Rent (as hereinafter defined) and other sums and charges payable by Lessee under this Lease are hereinafter referred to as "rent". Lessee recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Lessor, the monthextent of which additional expense is extremely difficult and economically impractical to ascertain. Lessee therefore agrees that if rent or any other sum is not paid within five (5) days after the date due and payable pursuant to this Lease, Rent such amount shall bear interest at the Designated Rate, as thereinafter defined from said fifth day until paid. In addition, if said amount remains unpaid for more than five (5) days after said amount is due, Lessee shall pay Lessor in addition to interest as aforesaid a late fee equal to the fraction greater of: (a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the unpaid rent or other payment. The amount of the late charge to be paid by Lessee shall be reassessed and added to Lessee=s obligation for each successive monthly period until paid. The provisions for payment of interest and for payment of a month at the commencement and at the end late fee in no way relieve Lessee of the Term obligation to pay rent or other payments on or before the date on which they are due, nor do they in any way affect Lessor=s remedies hereunder in the event said rent or other payment is unpaid after any applicable notice or cure period. The Designated Rate shall be adjusted pro rata on a per diem basisthe rate of interest announced from time to time by Bank of America -Illinois as its Reference Rate, and all succeeding installments of Base Rent shall which may not be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision lowest or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover best rate charged by said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawbank.

Appears in 1 contract

Sources: Office Lease (Tunes Com Inc)

Base Rent. As of the Commencement Date, Tenant covenants and agrees shall pay to timely pay without notice, deduction, off-set or abatement to the Landlord at the Buildingoffice of Landlord set forth above, or at such other address place as Landlord may notify Tenant of from time to time designate in writing, yearly and every year during the Term hereofannual sum stated in Exhibit B attached hereto (such annual sum being hereinafter referred to as “Base Rent”) in equal monthly installments, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid each in advance on or before the first (1st) day of each and every calendar month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on Term, without any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent set off or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultdeduction whatsoever. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of a calendar month or ends other than on the last day of the calendar month, the Base Rent for such month shall be prorated (with payment for the fractional month at the start of the Term being due on the date the Term commences in a pro rated amount equal to the sum set forth for month one (1) and with month one (1) as provided in Exhibit B referring to the first full month). Tenant hereby delivers to Landlord the Prepaid Base Rent (as defined in Exhibit B attached hereto) to be held by Landlord and applied towards the first installment of Base Rent payable under this Lease (except as otherwise provided in Exhibit B). If any payment or installment of Rent shall not be received by Landlord within five (5) days of the date due then, in addition to all other rights and remedies to which Landlord is entitled, Tenant shall also be responsible for and shall immediately pay Landlord, as Additional Rent, a service charge equal to the greater of (i) a sum equal to two percent (2%) of the amount which is past due or (ii) seventy five dollars ($75.00), for the administrative expenses Landlord incurs as a result of the late payment. In addition to Base Rent, Tenant also agrees to pay to Landlord on the first day of each calendar month (and together with each such payment) a sum equal to any sales tax, use tax, tax on rentals, and any other governmental charges, taxes and/or impositions now in existence or hereafter imposed based upon the privilege of renting the Demised Premises and/or upon the amount of “Rent” (as defined below) collected therefor. Tenant shall also be responsible for and shall pay before delinquency all municipal, county or state taxes assessed during the term hereof. Should Tenant be in defaultTerm of this Lease against any occupancy interest or personal property of any kind, Landlord may collect $50.00 per day penalty under this provision owned by or 18% interest under Paragraph 36placed in, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus upon or about the penalty contained herein. Landlord may also seek additional relief as provided Demised Premises by lawTenant.

Appears in 1 contract

Sources: Lease Agreement (Clayton Holdings Inc)

Base Rent. As of the Commencement Date, 2.01 Tenant covenants and agrees to timely pay Landlord as base rent (Base Rent), without notice, demand, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereofoffset, the Rent monthly sum of $4910.85 for the first 12 months, adjusted as provided in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid 2.03 for all months thereafter, in advance on or before the first (1st) day of each and every successive calendar month during the term hereof. Rent is considered late and Tenant , except that last month's deposit shall be in default if paid upon execution hereof. Credit will be given for Tenant's current deposit. The rent is received after 5:00 o’clock p.m. shall commence on the fifth First day of July, 1998 (5ththe "Commencement Date"). All payments to Landlord under this Lease shall be paid to Landlord at the address for notice set forth in paragraph 32.15, or at such other address provided to Tenant by Landlord in writing from time to time. 2.02 Rent for any period which is for less than one month shall be a prorated portion of the monthly rental based upon a thirty (30) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event Tenant acknowledges that late payment by Tenant to Landlord is required to post a 3-day notice for non-payment of rent or for other sums due hereunder will cause Landlord to incur certain costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any other breach trust deed covering the Leased Premises. Therefore, in the event Tenant shall fail to pay any installments of the Leaserent or any sum due hereunder within five (5) days after receiving notice of such delinquency, Tenant shall pay to Landlord an administrative fee as additional rent a late charge equal to TEN percent (10%) of each such installment or other sum. A $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall 15.00 charge will be paid on by the first (1st) day of Tenant to the Landlord for each month during returned check, in addition to the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawlate charge. 2.03 INTENTIIONALLY OMMITTED

Appears in 1 contract

Sources: Commercial Lease (Penn Octane Corp)

Base Rent. As Subtenant shall pay without deduction or set-off to Sublandlord Base Rental (the "Base Rent") for the Sublease Premises in the amounts set forth below. Upon the written agreement of the Commencement DateLandlord, Tenant covenants Sublandlord, and agrees the Subtenant, Subtenant may be directed to timely pay without notice, deduction, off-set or abatement the Base Rent directly to the Landlord at Landlord, provided Subtenant delivers to Sublandlord copies of all bills received and payments made for the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the monthLandlord. In the event that Subtenant defaults in any payments made directly to Landlord, Landlord is required shall give notice of such default to post a 3-day 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 for non-payment of rent or for any other breach of from the LeaseLandlord. Notwithstanding the forgoing, Tenant Base Rent shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of not commence until the cure of default. If Commencement Date, provided, however in the Term hereof commences on any day other than 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 day or expires rental payment sh▇▇▇ ▇e due. In the event that Sublandlord fails to vacate the Sublease Premises prior to 5:00 PM CST on any day other than May 23, 2001, Subtenant, in its sole discretion, shall have the last day right to terminate this Sublease Agreement without penalty by providing Sublandlord written notice of the monthits election to terminate by 5:00 PM CST on May 26, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of 2001. Rentable From To /Sq. Ft. /Year /Mo. ---- -- -------- -------- ---- Base Rent shall be paid payable in monthly installments in the amounts set forth above, and each such installment shall be due and payable in advance, starting on the Commencement Date and continuing on the first (1st) day of each calendar month during thereafter. If this Sublease ends or begins on a day other than the term hereof. Should Tenant first or last day of a month, respectively, the monthly installment of Base Rent for such month shall be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief prorated except as provided by lawabove.

Appears in 1 contract

Sources: Sublease (Ipayment Inc)

Base Rent. As of (a) At all times during the Commencement DateLease Term, Tenant covenants shall pay to Landlord, without any prior demand or notice and without any deduction, offset or counterclaim whatsoever, the Base Rent and all other sums of money constituting Rent hereunder, and Tenant specifically agrees that its non-payment of any Rent due hereunder shall entitle the Landlord to exercise all rights and remedies as are herein provided. The annual Base Rent for each calendar year or portion thereof during the Lease Term, together with any estimated adjustment thereto pursuant to paragraph 6 hereof then in effect, shall be due and payable in advance, in twelve (12) equal installments on the first day of each calendar month during the initial term of this Lease and any extensions or renewals thereof, and Tenant hereby agrees to timely pay without notice, deduction, off-set or abatement such Base Rent and any adjustments thereto to the Landlord at the Building, Landlord's Address (or such other address as may be designated by Landlord may notify Tenant of in writingwriting from time to time) monthly, yearly in advance, and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultwithout demand. If the Lease Term hereof commences on any a day other than the first day of the month or expires terminates on any a day other than the last day of the a month, Rent for then the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent and any adjustments thereto for such month or months shall be prorated, based on the number of days in such month. (b) In addition to the foregoing Base Rent, Tenant agrees to pay Landlord all charges for any service, goods, or materials furnished by Landlord under this Lease within ten (10) days after Landlord delivers to Tenant a statement therefor. (c) If any monthly installment of Base Rent or other payment due hereunder is not paid on the first or before ten (1st10) day of each month during the term hereof. Should Tenant be in defaultdays after said installment or other payment is due and payable hereunder, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultthen, and in that event, Tenant must cover said check agrees to pay a late payment charge equal to the amount determined by multiplying twenty percent (20%) per annum, by the amount of the unpaid installment or other payment due hereunder, as the case may be, by a fraction the numerator of which is the number of days which elapse after the due date through the date of payment in full (of such installment or other payment, as the case may be, together with certified funds plus the penalty late payment charge) and the denominator of which is 365; provided, however, nothing contained herein. Landlord may also seek additional relief as provided in this Lease shall ever entitle Landlord, upon the arising of any contingency whatsoever, to receive or collect any late payment charge hereunder or pursuant to any other provision of this Lease including, but not limited to, paragraph 26 hereof determined, at a rate in excess of the highest lawful rate allowed by law.the laws of

Appears in 1 contract

Sources: Lease Agreement (Western Country Clubs Inc)

Base Rent. As of the Commencement Date, 2.01 Tenant covenants and agrees to timely pay Landlord as base rent (Base Rent), without notice, demand, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereofoffset, the Rent monthly sum of $3729.44 for the first 12 months, adjusted as provided in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid 2.03 for all months thereafter, in advance on or before the first (1st) day of each and every successive calendar month during the term hereof. Rent is considered late and Tenant , except that last month's deposit shall be in default if paid upon execution hereof. Credit will be given for Tenant's current deposit. The rent is received after 5:00 o’clock p.m. shall commence on the fifth First day of January, 1996 (5ththe "Commencement Date"). All payments to Landlord under this Lease shall be paid to Landlord at the address for notice set forth in paragraph 32.15, or at such other address provided to Tenant by Landlord in writing from time to time. 2.02 Rent for any period which is for less than one month shall be a prorated portion of the monthly rental based upon a thirty (30) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event Tenant acknowledges that late payment by Tenant to Landlord is required to post a 3-day notice for non-payment of rent or for other sums due hereunder will cause Landlord to incur certain costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any other breach trust deed covering the Leased Premises. Therefore, in the event Tenant shall fail to pay any installments of the Leaserent or any sum due hereunder within five (5) days after receiving notice of such delinquency, Tenant shall pay to Landlord an administrative fee as additional rent a late charge equal to TEN percent (10%) of each such installment or other sum. A $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part 15.00 charge will be paid by the Tenant to the Landlord for each returned check, in addition to the late charge. 2.03 The base Rent set forth in Paragraph 2.01 shall be increased in all years after the first year of the cure term if the Consumer Price Index - San Francisco - All Items (Index) as published by the United States Department of defaultLabor's Bureau of Labor Statistics, increases over the base period Index. The base period Index for any year shall be the Index for the calendar month which is the fourth month preceding the month in which any lease year commences. The base period Index shall be compared with the Index for the same calendar month for each subsequent year (comparison month). If the Term hereof commences on Index for any day other comparison month is higher than the first day base period Index, then the rental for the next year shall be increased by the identical percentage commencing with the next rental commencement month; provided, however, that no such rental increase shall be less than 4% or expires on any day other more than the last day 8%, of the month, Rent rental for the fraction previous year. In no event shall the rental be less than that set forth in Paragraph 2.01. (By way of a month at illustration only, if Tenant commenced paying rent in July 1991, then the commencement base period Index for the second year is that for April 1992 (assume 130) and at that Index shall be compared with the end Index for April 1991 (assume 136), and because the Index for April 1992 is 4.61% higher, the rental commencing July 1992 shall be 4.61% higher; likewise the Index for April 1993 shall be compared with the Index for April 1992.) Should the Bureau revise or discontinue the publication of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereofabove Index. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check shall convert to the revised index or adopt the successor index in accordance with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided guidelines therefor issued by lawthe federal government.

Appears in 1 contract

Sources: Commercial Lease (Bay Area Bancshares)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. The annual Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due shall be Forty Nine Thousand Three Hundred Eight and 60/100 ($49,308.60) DOLLARS and shall be paid by TENANT to LANDLORD at its principal office or that of its agent or at any other place hereafter designated in advance writing by LANDLORD, in equal monthly installments of Four Thousand One Hundred Nine and 05/100 ($4,109.05) DOLLARS, on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the The first month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of 's Base Rent shall be paid on simultaneously with execution of this Lease, receipt of which is hereby acknowledged by LANDLORD. On the Commencement Date, TENANT shall pay a pro rata amount of rent, if any, for the period from the Commencement Date to the first (1st) day of each month the next calendar month. TENANT shall promptly pay any and all Rent due hereunder at the times and at the address for LANDLORD stated above. TENANT shall promptly pay charges for work performed on order of TENANT and any other charges that accrue under this Lease. If any part of the Rent or other charges shall remain due and unpaid for five (5) days after the same become due and payable, LANDLORD shall have the option (in addition to all other rights and remedies available to it by law and in equity) of assessing against TENANT a "late charge" equal to five (5) cents for every dollar of Rent which is past due, which LANDLORD shall have the option to assess a charge against TENANT, if any of TENANT's payment checks shall be returned to LANDLORD marked "NSF" for insufficient funds, in the amount of $25.00. Additionally, if at any time during the term hereofTerm of this Lease, including any extensions or option terms, LANDLORD shall receive any two payment checks from TENANT returned to LANDLORD marked "NSF" then LANDLORD may demand that TENANT make the balance of its rental payments by cashier's check. Should Tenant TENANT may be instructed by LANDLORD to make rental payments to a "lock box", at Southeast Bank or such other institution as LANDLORD may designate. Due to the nature of the handling of such payments, those which LANDLORD would normally not accept under the below circumstances may be deposited in defaultLANDLORD's account anyway. Therefore, Landlord in the event that the payment made by TENANT is in an amount which is less than what is due or, in the event that TENANT has received a statutory notice and failed to comply with its demands and/or litigation is pending concerning TENANT's nonpayment of rent or as a result of other defaults by TENANT under the Lease, then, notwithstanding the fact that the rental payment received may collect $50.00 per day penalty under be deposited in LANDLORD's "lockbox" at Southeast Bank or such other institution utilized for this provision or 18% interest under Paragraph 36purpose by LANDLORD, whichever same SHALL NOT BE DEEMED ACCEPTED unless and until the default which is greater. Any rent check returned for insufficient funds shall constitute an event the subject of default, the above actions is cured to the satisfaction of the LANDLORD and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by under the Lease and Florida law. Such DEPOSITED BUT UNACCENTED RENTAL PAYMENT(S) will be refunded to TENANT on a LANDLORD issued check within a reasonable time after such deposit is made. Such deposit of TENANT's check, under the above circumstances, shall in no way prejudice LANDLORD's rights under Florida law and/or the Lease.

Appears in 1 contract

Sources: Lease Agreement (Kos Pharmaceuticals Inc)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. The Annual Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due shall be THIRTY SEVEN THOUSAND THREE HUNDRED FOUR AND 96/100 DOLLARS ($37,374.96) and shall be paid by TENANT to LANDLORD at its principal office or that of its agent or at any other place hereafter designated in advance writing by LANDLORD, in equal monthly installments of Three Thousand One Hundred Fourteen and 58/100 DOLLARS ($3,114.58), on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the The first month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of 's Base Rent shall be paid on simultaneously with execution of this Lease, receipt of which is hereby acknowledged by LANDLORD. On the Commencement Date, TENANT shall pay a pro rata amount of rent, if any, for the period from the Commencement Date to the first (1st) day of each month the next calendar month. TENANT shall promptly pay any and all Rent due hereunder at the times and at the address for LANDLORD stated above. TENANT shall promptly pay charges for work performed on order of TENANT and any other charges that accrue under this Lease. If any part of the Rent or other charges shall remain due and unpaid for five (5) days after the same become due and payable, LANDLORD shall have the option (in addition to all other rights and remedies available to it by law and in equity) of assessing against TENANT a "late charge" equal to five (5) cents for every dollar of Rent which is past due, which late charge assessment shall be deemed to be Additional Rent. The term Annual Base Rent may hereinafter by referred to as "Base Rent", "Annual Base Rent", or "Rent". LANDLORD shall have the option to assess a charge against TENANT, if any of TENANT's payment checks shall be returned to LANDLORD marked "NSF" for insufficient funds, in the amount of $25.00. Additionally, if at any time during the term hereofTerm of this Lease, including any extensions or option terms, LANDLORD shall receive any two payment checks from TENANT returned to LANDLORD marked "NSF" then LANDLORD may demand that TENANT make the balance of its rental payments by cashier's check. Should Tenant TENANT may be instructed by LANDLORD to make rental payments to a "lock box", at Southeast Bank or such other institution as LANDLORD may designate. Due to the nature of the handling of such payments, those which LANDLORD would normally not accept under the below circumstances may be deposited in defaultLANDLORD's account anyway. Therefore, Landlord in the event that the payment made by TENANT is in an amount which is less than what is due or, in the event that TENANT has received a statutory notice and failed to comply with its demands and/or litigation is pending concerning TENANT's nonpayment of rent or as a result of other defaults by TENANT under the Lease, then, notwithstanding the fact that the rental payment received may collect $50.00 per day penalty under be deposited in LANDLORD's "lockbox" at Southeast Bank or such other institution utilized for this provision or 18% interest under Paragraph 36purpose by LANDLORD, whichever same SHALL NOT BE DEEMED ACCEPTED unless and until the default which is greater. Any rent check returned for insufficient funds shall constitute an event the subject of default, the above actions is cured to the satisfaction of the LANDLORD and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by under the Lease and Florida law. Such DEPOSITED BUT UNACCEPTED RENTAL PAYMENT(S) will be refunded to TENANT on a LANDLORD issued check within a reasonable time after such deposit is made. Such deposit of TENANT's check, under the above circumstances, shall in no way prejudice LANDLORD's rights under Florida law and/or the Lease.

Appears in 1 contract

Sources: Lease Agreement (Kos Pharmaceuticals Inc)

Base Rent. As Upon execution of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the this Lease, Tenant shall pay to Landlord an administrative fee the first payment of $250.00 Monthly Base Rent, FOE and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of Taxes payable under the cure of default. If the Term hereof commences on any day other Lease, and thereafter Tenant shall pay all such payments in advance, without demand no later than the first day of each calendar month following the Commencement Date (prorated for any fractional calendar month). Tenant shall make all payments to Landlord (or expires 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 ▇▇▇▇▇▇▇▇’s obligations under this Lease are independent obligations. Tenant shall not ▇▇▇▇▇, reduce or set-off any amounts payable except as may be expressly provided in this Lease. Without limiting Landlord’s other rights and remedies, if Tenant is delinquent in any payment due for more than 5 days, Tenant shall pay to Landlord on demand as a late charge (and not 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 the tax parcel on which the Building is situated (see Section 8) as estimated by Landlord from time to time. Tenant shall be responsible only for Tenant’s Share of actual Taxes in any day other 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 last first day of a calendar year by either Landlord or Tenant making payment to the monthother, Rent as applicable, within 60 days after such determination. Tenant’s Share may be proportionately adjusted for changes in the fraction of a month at the commencement and at the end size of the Term shall be adjusted pro rata on a per diem basisPremises, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in defaultBuilding, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawProject.

Appears in 1 contract

Sources: Lease Agreement (ERock, Inc.)

Base Rent. As 4.1 Tenant shall pay Base Rent in advance, in equal monthly installments, the first payment to be made upon the signing of this Lease by ▇▇▇▇▇▇, and subsequent monthly payments to be made on the first day of each calendar month during the Lease Term. (Subject to the abatement of Base Rent as set forth in Paragraph 1 of Exhibit G). If the Lease Term begins on a date other than on the first day of a month, rent for the month of commencement shall be prorated at the rate of one-thirtieth (1/30th) of the monthly installment of Base Rent for each day, payable in advance of the Lease Commencement Date. Tenant will pay all rent to Landlord, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Buildingoffice of Landlord, or to such other party or to such other address as Landlord may notify designate from time to time by written notice to ▇▇▇▇▇▇. 4.2 If Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money fails to make any payment of the United States. Base Rent is Rent, Additional [lent or any other sum payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance Landlord on or before the first date such payment is due and payable (1stwithout regard to any grace period specified in Section 20.1), then Tenant shall pay a late charge of five percent (5%) day of each the amount of such payment. In addition, such payment and such late fee shall bear interest at the Default Rate as set forth in Section 20.5 from the date such payment was due to the date of payment thereof. Notwithstanding the foregoing, ▇▇▇▇▇▇▇▇ agrees that on no more than one (1) occasion during any twelve (12) month period during the term hereofLease term, Landlord shall waive such late charge and interest if payment is received within five (5) days of notice that said payment has not been made. Such late charge and interest shall constitute Additional Rent is considered late due hereunder, shall be paid with the next monthly installment of Base Rent coming due hereunder, shall constitute agreed liquidated damages and Tenant not penalties, and shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that addition to, and not in lieu of, all other rights and remedies provided to Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the in this Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day at law, or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawequity.

Appears in 1 contract

Sources: Office Lease (Consumer Portfolio Services Inc)

Base Rent. As Tenant shall pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or at such other address place as Landlord may notify Tenant of from time to time designate in writing, yearly and every year during the Term hereof, the Rent monthly installments of base rent (“Base Rent”) as set forth in lawful money Section 8 of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid Summary, in advance on or before the first (1st) day of each and every month during the term hereofLease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term (or if the first full month of the Lease Term is considered late and Tenant 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 in default if rent is received after 5:00 o’clock p.m. paid at the time of Tenant’s execution of this Lease. If any rental or other payment date (including the Lease Commencement Date) falls on the fifth (5th) a day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day month other than the first day of such month or expires if any rental or other payment is for a period which is shorter than one month, then the rental or other payment for any such fractional month shall be a proportionate amount of a full calendar month’s rental or other payment based on any day other than the last day proportion that the number of days in such fractional month bears to the number of days in the calendar month during which such fractional month occurs. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the monthterms and conditions of this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent for the fraction second (2nd) through fifth (5th) full months of the initial Lease Term. During such abatement periods, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease. In the event of a month at default by Tenant under the commencement and at terms of this Lease that results in early termination pursuant to the end provisions of Section 19.1 of this Lease, then as a part of the Term recovery set forth in Section 19.2 of this Lease, Landlord shall be adjusted pro rata on a per diem basis, and all succeeding installments entitled to the recovery of the monthly Base Rent shall be paid on abated under the first (1st) day provisions of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawArticle 3.

Appears in 1 contract

Sources: Office Lease (Women First Healthcare Inc)

Base Rent. A. As part of the Commencement Dateconsideration for the execution of this Lease Agreement, Tenant Lessee covenants and agrees and promises to timely pay without notice, deduction, off-set or abatement as base rent an annual sum of Nineteen and 00/100 Dollars ($19.00) per square foot of Net Rentable Area in the Leased Premises (the “Base Rent”) payable to the Landlord Lessor at the Building, address specified in Section 31 below (or such other address as Landlord may notify Tenant be designated by Lessor in writing from time to time upon at least thirty (30) days’ prior notice) in monthly installments of Fourteen Thousand Eight Hundred Seven and 33/100 Dollars ($14,807.33) in writing, yearly and every year during the Term hereof, the Rent in lawful money legal tender of the United StatesStates of America, in advance, without demand, set-off or counterclaim. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereof and any extensions or renewals hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease; provided, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than however, the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments monthly payment of Base Rent shall be paid made on the first (1st) day of each month during Commencement Date. B. In addition to the term hereof. Should Tenant foregoing Base Rent, Lessee agrees to pay to Lessor as additional rent all charges for any services, goods or materials furnished by Lessor at Lessee’s request which are not required to be in default, Landlord may collect $50.00 per day penalty furnished by Lessor under this provision Lease Agreement, as well as other sums payable by Lessee here under, within ten (10) days after Lessor renders a statement therefor to Lessee. All Rent (as hereinafter defined) shall bear interest from the date due until paid at the greater of (i) two percent (2%) above the “prime rate” per annum of JPMorgan Chase Bank, a New York banking corporation or 18% its successor (“JPMorgan Chase”), in effect on said due date (or if the “prime rate” be discontinued, the base reference rate then being used by JPMorgan Chase to define the rate of interest under Paragraph 36charged to commercial borrowers) or (ii) twelve percent (12%) per annum; provided , whichever is greater. Any rent check returned for insufficient funds however , in no event shall constitute an event the rate of defaultinterest 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 Tenant must cover said check with certified funds plus to the penalty contained herein. Landlord may also seek additional relief extent that the Maximum Rate is determined by reference to the laws of the State of Texas, the Maximum Rate shall be the weekly ceiling (as provided by lawdefined and described in Chapter 303 of the Texas Finance Code, as amended) at the applicable time in effect.

Appears in 1 contract

Sources: Lease Agreement (Kiromic Biopharma, Inc.)

Base Rent. As Tenant shall pay the Base Rent to Landlord in accordance with the schedule set forth on the Basic Lease Information sheet and in the manner described below. Tenant shall pay the Net Rent (consisting of Base Rent plus, when applicable in accordance with Section 3.4 below, Tenant’s Proportionate Share of Basic Operating Costs) in monthly installments on or before the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant first day of in writing, yearly and every year each calendar month during the Term hereofand any extensions or renewals thereof, the Rent in advance without demand and without any reduction, abatement, counterclaim or setoff, in lawful money of the United StatesStates at Landlord’s address specified on the Basic Lease Information sheet or at such other address as may be designated by Landlord in the manner provided for giving notice under Section 9.11 hereof. If the Term commences on other than the first day of a month, then the Base Rent is payable in provided for such partial month shall be prorated based upon a thirty (30)-day month and the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and prorated installment shall be paid on the first day of the calendar month next succeeding the Term Commencement Date together with the other amounts payable on that day. If the Term terminates on other than the last day of a calendar month, then the Net Rent provided for such partial month shall be prorated based upon a thirty (30)-day month and the prorated installment shall be paid on the first day of the calendar month in advance which the date of termination occurs. Tenant’s Proportionate Share of Basic Operating Costs. Commencing on the Term Commencement Date and continuing through the remainder of the Term, Tenant shall pay to Landlord Tenant’s Proportionate Share of Basic Operating Costs. During the first Computation Year, on or before the first day of each month during such Computation Year, Tenant shall pay to Landlord one-twelfth (1st1/12th) of Landlord’s estimate of the amount payable by Tenant under Section 3.4(a) as set forth in Landlord’s written notice to Tenant. During the last month of each Computation Year (or as soon thereafter as practicable), Landlord shall give Tenant notice of Landlord’s estimate of the amount payable by Tenant under Section 3.4(a) for the following Computation Year. On or before the first day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Leasefollowing Computation Year, Tenant shall pay to Landlord an administrative fee one-twelfth (1/12) of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part such estimated amount, provided that if Landlord fails to give such notice in the last month of the cure prior year, then Tenant shall continue to pay on the basis of default. If the Term hereof commences on any day other than prior year’s estimate until the first day or expires on any day other than of the last calendar month next succeeding the date such notice is given by Landlord; and from the first day of the monthcalendar month following the date such notice is given, Rent Tenant’s payments shall be adjusted so that the estimated amount for the fraction of a month at the commencement and at that Computation Year will be fully paid by the end of that Computation Year. If at any time or times Landlord determines that the Term amount payable under Section 3.4(a) for the current Computation Year will vary from its estimate given to Tenant, Landlord, by written notice to Tenant, may revise its estimate for such Computation Year, and subsequent payments by Tenant for such Computation Year shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawbased upon such revised estimate.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Exar Corp)

Base Rent. As Tenant shall pay to Landlord the sum of TWO HUNDRED FORTY THOUSAND and No/100 Dollars ($240,000.00) per annum as the "Base Rent" due for the Term; which amount shall be payable in equal monthly installments of TWENTY THOUSAND and No/100 Dollars ($20,000.00). If the Term does not begin on the first day or end on the last day of a calendar month, then the Base Rent for that partial month shall be prorated by multiplying the monthly Base Rent by a fraction, the numerator of which is the number of days of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of partial month included in writing, yearly and every year during the Term hereof, and the Rent denominator of which is the total number of days in lawful money of the United Statesfull calendar month. The Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereofTerm without advance notice, demand, offset, or deduction, unless such offset or deduction is made by Tenant as expressly permitted in this Lease or to recover any unpaid (non-appealable) arbitration award or court judgment Tenant has against Landlord. All Base Rent is considered late and Tenant Additional Rent (defined below) shall be paid to Landlord at the address specified in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day this Lease for any notice to be given hereunder, or as Landlord may otherwise specify in writing to Tenant. The Base Rent shall be subject to adjustment as follows: Beginning as of the month. A penalty of fifty dollars Commencement Date, each successive twelve ($50.0012) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day full calendar month period of the month. In the event Term shall be deemed to be a "Lease Year"; provided that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If should the Term hereof commences commence on any day a date other than the first day or expires on any day other than of a calendar month, the first Lease Year shall also include the partial calendar month of the Commencement Date; and further provided that the last day Lease Year shall end as of the month, Rent for the fraction Expiration Date or earlier termination date of a month at the commencement and at the end this Lease. Commencing as of the Term shall be adjusted pro rata on a per diem basissecond Lease Year and continuing for each Lease Year of the Term, and all succeeding installments of the annual Base Rent shall be paid on increased each Lease Year to an amount equal to One Hundred Two and 50/100 Percent (102.5%) of the first (1st) day of each month Base Rent payable during the term hereofprior Lease Year. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law.(i.

Appears in 1 contract

Sources: Office Lease Agreement (E Loan Inc)

Base Rent. As of the Commencement Date, 2.01 Tenant covenants and agrees to timely pay Landlord as base rent (Base Rent), without notice, demand, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereofoffset, the Rent in lawful money monthly sum of $3507.75 for the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid first 12 months, in advance on or before the first (1st) day of each and every successive calendar month during the term hereof. Rent is considered late and Tenant , except that last month's deposit shall be in default if paid upon execution hereof. Credit will be given for Tenant's current deposit. The rent is received after 5:00 o’clock p.m. shall commence on the fifth First day of July, 1997 (5ththe "Commencement Date"). All payments to Landlord under this Lease shall be paid to Landlord at the address for notice set forth in paragraph 32.15, or at such other address provided to Tenant by Landlord in writing from time to time. 2.02 Rent for any period which is for less than one month shall be a prorated portion of the monthly rental based upon a thirty (30) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event Tenant acknowledges that late payment by Tenant to Landlord is required to post a 3-day notice for non-payment of rent or for other sums due hereunder will cause Landlord to incur certain costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any other breach trust deed covering the Leased Premises. Therefore, in the event Tenant shall fail to pay any installments of the Leaserent or any sum due hereunder within five (5) days after receiving notice of such delinquency, Tenant shall pay to Landlord an administrative fee as additional rent a late charge equal to TEN percent (10%) of each such installment or other sum. A $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall 15.00 charge will be paid on by the first (1st) day of Tenant to the Landlord for each month during returned check, in addition to the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawlate charge. 2.03 INTENTIONALLY OMITTED

Appears in 1 contract

Sources: Commercial Lease (Penn Octane Corp)

Base Rent. As 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 be due and payable on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement (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 Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant first day of in writing, yearly and every year each calendar month during the Term hereof, the Rent in lawful money of the United StatesStates 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. Payments of Base Rent for any fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to 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 in this Lease, (i) so long as Tenant is not in Default under this Lease, Base Rent payable in with respect to the monthly installments set forth Building 3 Premises only shall be abated for the period commencing on the Lease Agreement Facing Commencement Date (or, if the Commencement Date does not occur DocuSign Envelope ID: FC2CC128-9822-4855-A001-C19E6B8CA968 Buildings B3 and B4/Singular - Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance 5 on or before the first (1st) day of each month during a calendar month, then as of the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) 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 in Default under this Lease, Base Rent payable with respect to the Building 4 Premises only shall be abated for the period commencing on the Building 4 Premises Commencement Date (or, if the Building 4 Premises Commencement Date does not occur on the first day of a calendar month. A penalty , then as of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) first day of the monthfirst full calendar month immediately following the Building 4 Premises Commencement Date) and continuing for the first 365 calendar days following the Building 4 Premises Commencement Date (the “Building 4 Premises Abatement Period”). In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay commence paying Base Rent with respect to Landlord an administrative fee the Building 3 Premises on the calendar day following the Building 3 Premises Abatement Period (the “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 $250.00 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 attorneys fees of $250.00 (total of $500.00) together with shall not be entitled any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments abatement of Base Rent shall be paid on with respect to the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawBuilding 4 Premises.

Appears in 1 contract

Sources: Lease Agreement (Singular Genomics Systems, Inc.)

Base Rent. As base rent for the lease of the Commencement DatePremises, Tenant covenants and hereby agrees to timely pay pay, without noticeclaim, deductiondeductions or setoffs for the Term of the Lease base rent. ("Base Rent") as follows: PERIOD PSF ANNUAL EQUAL MONTHLY PAYMENT: ------ --- ------ ---------------------- Lease Year 1 6/1/94-5/31/95 $16.29 $20.786.04 $1.732.17 Lease Year 2 6/1/95-5/31/96 $17.29 $22.062.04 $1.838.50 Lease Year 3 6/1/96 5/31/97 $18.29 $23.338.04 $l.944.84 Such Base Rent for each Lease Year shall be due and payable in the equal monthly installments set forth above, off-set or abatement in advance, on the first day of each calendar month during the Term, commencing on the 1ST day of JULY 1994. All payments of Base Rent shall be paid to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable States of America at the address of Landlord shown herein, or to such other party or at such other place as Landlord may designate from time to time in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant a written notice to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultTenant. If the Term hereof commences or terminates on any day other than the first day or expires on any day other than the last day of the a calendar month, the Base Rent and any other sums due hereunder shall be prorated for the fraction such fractional calendar month. All past due installments of a month Base Rent and Additional Rent (defined below) shall bear interest at the commencement rate of twelve percent (12%) per annum from the date due until paid. Anything herein to the contrary notwithstanding, in no event shall the Base Rent provided herein ever be reduced. A "Lease Year" shall be the twelve month period commencing with the Commencement Date of this Lease, and ending one year later, and each following twelve-month period. If at the end expiration of any twelve month period during the Term the Term has not expired and there remains less than twelve months prior to the expiration of the Term, the final period during the Term shall be adjusted pro rata on treated like a per diem basis, Lease Year and all succeeding installments of Base Rent shall be paid on adjusted accordingly. Notwithstanding the foregoing, no Base Rent and Additional Rent shall be payable by Tenant for the first two months of the Term (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, July and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawAugust 1994).

Appears in 1 contract

Sources: Office Lease Agreement (Ocurest Laboratories Inc)

Base Rent. As Tenant shall pay an annual Base Rent in the amount set forth above in the Basic Lease Information. The Initial Monthly Base Rent for the third (3rd) month of the Commencement DateTerm shall be due and payable within five (5) business days after Tenant’s execution of this Lease, and Tenant covenants and agrees promises to timely pay to Landlord in advance, without noticedemand, deductiondeduction or set-off (except as expressly permitted under this Lease), off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant monthly installments of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during commencing with the term hereofthird calendar month succeeding the Commencement Date (as that date may be extended as provided in Paragraph 2(c)). Payments of Base Rent is considered late for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder (or to such other party as Landlord may from time to time specify in writing) shall be made by 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 time designate to Tenant in writing. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Except as expressly set forth in this Lease, Tenant shall be have no right at any time to abate, r▇▇▇▇▇, or set-off any rent due hereunder. If Tenant is delinquent in default if rent is received after 5:00 o’clock p.m. on the fifth any monthly installment of Base Rent or of estimated Operating Expenses (5thas defined below) day of the month. A penalty of fifty dollars for more than five ($50.005) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Leasedays, Tenant shall pay to Landlord an administrative fee on demand a late charge equal to six percent (6%) of $250.00 and attorneys fees of $250.00 such delinquent sum; provided, however, that, not more than once during any twelve (total of $500.00) together with any other sums due as an essential part of the cure of default. If 12)- month period during the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month(as extended), Rent for the fraction of a month at the commencement and at the end of the Term Tenant shall be adjusted pro rata on a per diem basis, and all succeeding installments entitled to written notice of non-receipt of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultestimated Operating Expenses from Landlord, and Tenant must cover said check shall not be liable for any late charge with certified funds plus the penalty contained hereinrespect thereto if such installment of Base Rent or estimate Operating Expenses is received by Landlord within five (5) days after Tenant’s receipt of such notice. Landlord may also seek additional relief 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 provided by lawa penalty.

Appears in 1 contract

Sources: Lease (Bloom Energy Corp)

Base Rent. As of the Commencement DateTenant shall pay Expense Stop and Base Rent, Tenant covenants and agrees adjusted from time to timely pay without noticetime as described below, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month or part thereof during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultTerm. If either the Term hereof or rent commences on any a day other than the first day of a calendar month or expires ends on any a day other than the last day of the a calendar month, Rent then the rent for the fraction of a fractional month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, appropriately prorated. Expense Stop and all succeeding installments of Base Rent shall be paid on to Landlord, without deduction or offset, at Landlord's Address, or to such other person or at such other place as Landlord may from time to time designate in writing. Effective as of the first third (1st3rd) day anniversary of each month during the term hereofCommencement Date, the Base Rent shall be adjusted according to the proportion of (1) the Consumer Price Index for All Urban Consumers for San Francisco-Oakland, California, as published by the Bureau of Labor Statistics of the United States Department of Labor ("CPI-U") published most recently prior to such third anniversary date, to (1i) CPI-U published most recently prior to the Commencement Date; provided, however, that as a result of such adjustment the Base Rent shall not be increased by more than twelve percent (12%), nor reduced. Should Tenant On the fourth (4th) anniversary of the Commencement Date, the Base Rent shall again be adjusted according to the proportion of (A) CPI-U published most recently prior to such fourth (4th) anniversary date, to (B) CPI-U published most recently prior to the date of the last adjustment of Base Rent; provided, however, that as a result of such adjustment the Base Rent as previously adjusted shall not be increased by more than four percent (4%), nor reduced. In the event of a change in defaultthe manner or method of computing CPI-U, Landlord may collect $50.00 per day penalty and Tenant shall endeavor to agree on a mutually acceptable substitute price index and a date as of which such substitute price index shall take effect. Any and all additional amounts payable by Tenant to Landlord hereunder whether or not identified as additional rent and any amount payable by Tenant to Landlord under this provision the Work Agreement attached hereto as Exhibit C, shall be considered additional rent. Base Rent shall be earned in proportion to the amount of square footage of the Premises which is substantially complete (in accordance with Exhibit C) or 18% interest under Paragraph 36when occupied, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawfirst in time.

Appears in 1 contract

Sources: Office Lease (Large Scale Biology Corp)

Base Rent. As The annual base rent, which Sublessee hereby agrees to pay to Sublessor and Sublessor hereby agrees to accept shall be a sum equal to the product of twenty-Two Dollars ($22.00) multiplied by the number of rentable square feet (13,518), as certified pursuant to the Standard, in the Demised Premises (the "Base Rent"). The Base Rent shall be inclusive of Real Estate Taxes and all other Operating Costs (as such terms are defined in the ▇▇▇▇▇▇▇▇▇). The obligation of Sublessee to pay Base Rent shall begin on the Sublease Commencement Date. The annual Base Rent payable during each Sublease Year, as hereinafter defined, shall be divided into twelve (12) equal monthly installments and such monthly installments shall be due and payable in advance, on the first day of each month during each Sublease Year. For the purposes of this Sublease, the term "Sublease Year" shall mean a period of twelve (12) consecutive months, commencing on the Sublease Commencement Date, Tenant covenants and agrees to timely pay without noticeeach successive twelve (12) June 1, deduction1997 Month period thereafter, off-set or abatement except that, if the Sublease Commencement Date is a day other than the first day of a month, then the first Sublease Year shall commence on the Sublease Commencement Date and shall continue for the balance of the month in which the Sublease Commencement Date occurs and for a period of twenve (12) consecutive calendar months after the last day of such month. If the Sublease Commencement Date is a day other than the first day of a month, then, in the first Sublease Year, said twelve (12) installments shall be payable beginning on the first day of the calendar month immediately following the month in which the Sublease Commencement Date occurs and, in additions, on the Sublease Commencement Date, a payment of Base Rent shall be payable in an amount equal to the Landlord product of the annual Base Rent then in effect and a fraction, the numerator of which is the number of days of the Sublease Term in the month in which the Sublease Commencement Date occurs, and the denominator of which is 365. The monthly Base Rent, Additional Rent (as defined herein), and any other charges herein reserved or payable shall be paid to Sublessor by wire transfer to the account of: ▇▇▇▇▇ Industries Inc, Account Number 3900-0965 Cititbank NY, ABA #▇▇▇-▇▇▇-▇▇▇ with written confirmation of such transfer to the Sublessor at the Buildingits offices at ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: Mr. Ian McaNeill or at such other address place as Landlord Sublessor may notify Tenant of designate in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable States of America, without demand therefor and without any deduction, setoff or abatement whatever, except as expressly provided in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the monththis Sublease. In the event that Landlord Sublessee does not remit any payment due under this Sublease to Sublessor within seven (7) calendar June 1, 1997 days of when it is required due, such amount shall be subject to post a 3-day notice for non-payment late fee of rent or for any other breach 5% of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basisamount, and all succeeding installments of Base Rent shall be paid on bear interest at 2% over the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawWall Street Journal Prime Rate until paid.

Appears in 1 contract

Sources: Sublease Agreement (Psinet Inc)

Base Rent. As (a) Base Rent for the first Lease Year of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Initial Term hereof, the Rent in lawful money of the United States. Base Rent is payable shall be in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms amount of Paragraph 7 hereof. Rent is due $3,480,781.00 and shall be increased by two percent (2%) on the first day of each subsequent Lease Year during the Initial Term, as more particularly set forth in the Base Rent Schedule attached hereto as Schedule 2. (b) On the first day of the first Optional Term, Base Rent shall be the greater of: (i) the Fair Market Base Rent; and (ii) the Base Rent for the Lease Year immediately preceding the first Optional Term increased by two percent (2%). On the first day of the second Lease Year of the first Optional Term and each subsequent Lease Year during the remainder of the Term (including the second Optional Term if validly exercised by Tenant), the Base Rent shall be increased by two percent (2%), all as more particularly set forth in the Base Rent Schedule attached hereto as Schedule 2. (c) Base Rent will be paid in monthly installments in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be Term in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day amount of the month. A penalty of fifty dollars annual Base Rent then in effect divided by twelve ($50.00) per 12); provided, that if any such day falls on a date that is not a business day, then Base Rent will be assessed due and payable on any sums due under or before the lease which are received after the fifth (5th) day immediately succeeding business day. The first monthly installment of the month. In the event that Landlord is required to post a 3-day notice Base Rent for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than Lease Year will be prorated for the period from and including the Commencement Date through and including the last day of the month, Rent for month in which the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments Commencement Date occurs. All payments of Base Rent shall and other sums charged by or payable to Landlord under this Lease must be paid on the first (1st) day by wire transfer or automated clearing house in immediately available funds to a designated bank account of each month during the term hereof. Should Tenant be in defaultLandlord, or by check made payable to Landlord and sent or delivered to Landlord c/o Broadstone Real Estate, LLC, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, or to such other place as Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36designate in writing, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawat Landlord’s election.

Appears in 1 contract

Sources: Master Lease Agreement (Bob Evans Farms Inc)

Base Rent. As (i) Lessee shall pay as base rent hereunder ("Base Rent") for each Rental Period for each Portion of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement Outstanding Lease Amount an amount equal to the Landlord at product of (A) the BuildingRental Rate for such Rental Period and Portion, or times (B) the amount of such other address as Landlord may notify Tenant Portion on the first day of in writingsuch Rental Period (which shall include any Advance under made on the first day of such Rental Period), yearly and every year during the Term hereoftimes (C) a fraction, the Rent numerator of which is the number of days in lawful money such Rental Period and the denominator of which is 360. If the Rental Rate shall change during any Rental Period, the Rental Rate for such Rental Period shall be the weighted average of the United States. Base Rent is payable Rental Rates in effect from time to time during such Rental Period. (ii) Prior to the first Business Day in the monthly installments set forth on first calendar month immediately following the month in which the Commencement Date occurs, the Outstanding Lease Agreement Facing Page attached heretoAmount shall consist of a single Portion in the full amount of the Outstanding Lease Amount. Thereafter, Lessee may elect to divide the Outstanding Lease Amount into two or more Portions by delivering a Notice of Rental Period Selection as provided in clause (iii) below; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first provided, however, that (1stA) day of each month during the term hereof. Rent is considered late and Tenant Portion shall be in default the amount of $10,000,000 or an integral multiple of $100,000 in excess thereof; (B) the total number of Portions outstanding at any time shall not exceed four (4); and (C) the Outstanding Lease Amount shall consist of a single Portion in the amount of the Outstanding Lease Amount if rent the Outstanding Lease Amount is received after 5:00 o’clock p.m. less than $10,000,000. (iii) The Term shall consist of the following rental periods (individually, a "Rental Period") for each Portion: (A) The period which begins on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed Commencement Date and ends on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires Business Day in the first calendar month immediately following the month in which the Commencement Date occurs; and (B) Each successive period thereafter which begins on any day other than the last day of the month, Rent immediately preceding Rental Period for the fraction of a month at the commencement applicable Portion and ends at the end of the Term time period selected by ▇▇▇▇▇▇ as provided below in this clause (B) through and including the Scheduled Expiration Date. (1) Unless Lessee has selected a longer Rental Period for a Portion to have a Fixed Rate pursuant to clause (iv)(D) of this Subparagraph 2.03(a), Lessee shall, subject to clause (3) below, select a Rental Period for each Portion of one (1), two (2), three (3) or six (6) months; provided, however, that (y) no such Rental Period shall be adjusted pro rata longer than one (1) month if a Default has occurred and is continuing on the date three (3) Business Days prior to the first day of such Rental Period and (z) each such Rental Period for which Lessee fails to make a per diem basis, and all succeeding installments of Base Rent selection in accordance with this clause (iii)(B)(1) shall be paid one (1) month. Lessee shall select each such Rental Period by delivering to Lessor, at least three (3) Business Days prior to the first day of such Rental Period, an irrevocable written notice in the form of Exhibit C, appropriately completed (a "Notice of Rental Period Selection"). Each Notice of Rental Period Selection shall be delivered by first-class mail or facsimile as required by Subparagraph 2.02(a) and Paragraph 7.01 of the Participation Agreement; provided, however, that Lessee shall promptly deliver the original of any Notice of Rental Period Selection initially delivered by facsimile. (2) If ▇▇▇▇▇▇ has elected to exercise the Fixed Rate option for any Rental Period for a Portion pursuant to clause (iv)(D) of this Subparagraph 2.03(a), Lessee shall, subject to clause (3) below, select a Rental Period of twelve (12) months or longer for such Rental Period, which Rental Period shall begin on the first (1st) last day of the then current Rental Period for such Portion. Lessee shall select each month during such Rental Period by delivering to Agent a Fixed Rate Request pursuant to clause (iv)(D) below. (3) ▇▇▇▇▇▇'s selection of the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision time period for each Rental Period which begins on or 18% interest under Paragraph 36, whichever after the Commencement Date is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus subject to the penalty contained herein. Landlord may also seek additional relief as provided by law.following:

Appears in 1 contract

Sources: Lease Agreement (Fair Isaac & Company Inc)

Base Rent. As The Base Rent to be paid by Tenant under each Lease Supplement shall begin to accrue on the Rent Commencement Date as specified in such Lease Supplement. Tenant shall pay Base Rent by wire transfer in accordance with the terms of the Commencement Date, Participation Agreement. Tenant covenants and agrees shall be supplied with such bank account information as Tenant shall require to timely pay without notice, deduction, off-set or abatement enable payment by wire transfer of Federal funds. Tenant shall wire transfer to such account in accordance with the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money terms of the United StatesParticipation Agreement until notified of any account change. Base Rent is payments shall be payable monthly in the monthly installments set forth arrears on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first fifteenth (1st15th) day of each month during successive month, except that the term hereof. last installment of Base Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. payable on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Term (each such date shall be a "Rent for Payment Date") and Base Rent payments shall be made to Landlord and Administrative Agent in accordance with the fraction of a month at the commencement and at the end terms of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments 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, Landlord and Administrative Agent each shall deliver to Tenant Notices indicating the exact dollar amount of the Base Rent that is due on such due date to Landlord or Administrative Agent, as applicable (an "Invoice"). If either Landlord or Administrative Agent fails to send an Invoice, Tenant shall pay the amount shown on the previous month's Invoice from such Entity in accordance with the terms of the Participation Agreement. If Tenant's payment of the amount shown on the previous month's Invoice is less than the Base Rent due such Entity for such month, 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 month's Invoice exceeds the Base Rent due such Entity for such month, then (provided that no Event of Default has occurred which is continuing), such excess amount shall be paid on credited to the first (1st) day next installment of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawBase Rent due to such Entity.

Appears in 1 contract

Sources: Master Lease of Land and Improvements (Adobe Systems Inc)

Base Rent. As of the Commencement Date, 2.01 Tenant covenants and agrees to timely pay Landlord as base rent (Base Rent), without notice, demand, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereofoffset, the Rent monthly sum of $19,302.81 until January 1, 1996, and then adjusted as provided in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid 2.03 for all months thereafter, in advance on or before the first (1st) day of each and every successive calendar month during the term hereof. Rent is considered late and Tenant The rent shall commence on the First day of July, 1995 (the "Commencement Date"). All payments to Landlord under this Lease shall be paid to Landlord at the address for notice set forth in default if rent paragraph 31.15, or at such other address provided to Tenant by Landlord in writing from time to time. 2.02 Rent for any period which is received after 5:00 o’clock p.m. on for less than one month shall be a prorated portion of the fifth monthly rental based upon a thirty (5th30) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event Tenant acknowledges that late payment by Tenant to Landlord is required to post a 3-day notice for non-payment of rent or for other sums due hereunder will cause Landlord to incur certain costs not contemplated by this Lease, the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any other breach trust deed covering the Leased Premises. Therefore, in the event Tenant shall fail to pay any installments of the Leaserent or any sum due hereunder within five (5) days after receiving notice of such delinquency, Tenant shall pay to Landlord an administrative fee as additional rent a late charge equal to FIVE percent (5%) of each such installment or other sum. A $250.00 and attorneys fees 15.00 charge will be paid by the Tenant to the Landlord for each returned check, in addition to the late charge. 2.03 The base Rent(effective January 1, 1996) set forth in Paragraph 2.01 shall be increased in all years if the Consumer Price Index - San Francisco - All Items (Index) as published by the United States Department of $250.00 Labor's Bureau of Labor Statistics, increases over the base period Index. The base period Index for any year shall be the Index for the calendar month which is the fourth month preceding the month in which any lease year commences. The base period Index shall be compared with the Index for the same calendar month for each subsequent year (total of $500.00) together with any other sums due as an essential part of the cure of defaultcomparison month). If the Term hereof commences on Index for any day other comparison month is higher than the first day base period Index, then the rental for the next year shall be increased by the identical percentage commencing with the next rental commencement month; provided, however, that no such rental increase shall be less than 3% or expires on any day other more than the last day 8%, of the month, Rent rental for the fraction previous year. In no event shall the rental be less than that set forth in Paragraph 2.01. (By way of a month at illustration only, if Tenant commenced paying rent in July 1991, then the commencement base period Index for the second year is that for April 1992 (assume 130) and at that Index shall be compared with the end Index for April 1991 (assume 136), and because the Index for April 1992 is 4.61% higher, the rental commencing July 1992 shall be 4.61% higher; likewise the Index for April 1993 shall be compared with the Index for April 1992.) Should the Bureau revise or discontinue the publication of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in defaultabove Index, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check shall convert to the revised index or adopt the successor index in accordance with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided guidelines therefor issued by lawthe federal government.

Appears in 1 contract

Sources: Commercial Lease (Bay Area Bancshares)

Base Rent. As of (a) From and after the Space A Commencement Date, Tenant covenants Sub-subtenant shall pay to Sub-sublandlord, as rent for Space A, base annual rent of $792,000.00 (“Space A Base Rent”) and agrees to timely from and after the Space B Commencement Date, Sub-subtenant shall pay without noticeSub-sublandlord as rent for the entire Sub-sublease Premises, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant base annual rent of in writing, yearly and every year during the Term hereof$3,221,955.00 (combined, the Rent in lawful money of the United States“Base Rent”). Base Rent is shall be payable in the equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid installments, in advance on or before prior to the first day of each month, as follows: (b) If Base Rent for either Space A or the entire Sub-sublease Premises shall commence on a date other than the first (1st) day of each any calendar month, the applicable Base Rent payable hereunder for such month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. prorated on a per diem basis and shall be paid on the fifth (5th) day of date the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultapplicable Base Rent commences. If the Term hereof commences Expiration Date shall occur on any day other than the first day or expires on any day date other than the last day of the a calendar month, Base Rent for the fraction of a such month at the commencement and at the end of the Term shall be adjusted pro rata prorated on a per diem basisbasis based on the number of days in the Term occurring in such month. (c) Promptly after each Commencement Date is determined, Sub-sublandlord and all succeeding installments Sub-subtenant, at either Sub-sublandlord’s or Sub-subtenant’s request, shall execute an agreement setting forth each of the above dates. Sub-subtenant’s or Sub-sublandlord’s failure or refusal to sign the same shall in no event affect the determination of such dates or either party’s obligations hereunder. (d) Notwithstanding any provision hereof to the contrary, the Base Rent for the entire Sub-sublease Premises shall not be payable for the period of five months following the Space B Commencement Date (in addition to any additional credits pursuant hereto). (e) In addition to any credit that may be due to Sub-subtenant pursuant to Section 2.2 hereof, commencing April 1, 2019 Sub-subtenant shall be given a credit against the entire Base Rent equal to the reasonable costs of the Initial Work as approved by Sub-sublandlord pursuant to Section 2.3, provided that such credit shall not exceed five months of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawRent.

Appears in 1 contract

Sources: Sub Sublease (Datadog, Inc.)

Base Rent. As Tenant shall pay annual base rent (the "Base Rent") for the first Lease Year in an amount equal to $700,000.00, and for each subsequent Lease Year in an amount equal to 4.77% of the Gross Revenues of Tenant in that Lease Year (the "Base Amount"), but for each subsequent Lease Year ending on or before December 31, 2017, the Base Rent shall not be less than $1.4 million per Lease Year (the "Floor Amount"). Tenant shall pay the Base Rent for the first Lease Year ($700,000.00), together with a transaction fee of $700,000.00, to Landlord in a lump sum on or before Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. The Base Rent is for each subsequent Lease Year through 2017 shall be payable in the equal monthly installments set forth of $116,666.66 in advance, on the first day of each calendar month. The Base Rent for each Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and Year after 2017 shall be paid payable in advance monthly installments, in arrears, on or before the first twentieth (1st20th) day of each month during for the term hereofpreceding calendar month. Following the first Lease Year, if the aggregate amount of monthly Base Rent is considered late and payments made by Tenant for any subsequent Lease Year exceeds the Base Rent computed on the amount of Gross Revenues for that Lease Year, then the amount of such excess shall be applied to the next succeeding monthly installment(s) of Base Rent due hereunder, provided, however, that in default if rent no event shall the Base Rent payable for the second Lease Year and each subsequent Lease Year ending on or before December 31, 2017, be less than the Floor Amount. If the aggregate amount of monthly Base Rent payments made by Tenant for any Lease Year is received after 5:00 o’clock p.m. less than the Base Rent computed on the fifth (5th) day amount of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event Gross Revenues for that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the LeaseLease Year, then Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part deficiency by March 31 of the cure of defaultnext succeeding Lease Year. If the Term hereof commences last Lease Year terminates on any day other than the first day or expires on any a day other than the last day of a calendar year, the month, Floor Amount payable under this Lease for such fractional Lease Year shall be prorated based upon the actual number of days contained in such fractional Lease Year. Tenant shall be entitled to a credit against the Base Rent owing for the fraction first Lease Year for any fees, charges or expenses of a month the Trustee or Landlord, in excess of $97,000 in the aggregate, that are paid by Tenant in accordance with the Indenture at the commencement and at the end time of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments execution of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawLease.

Appears in 1 contract

Sources: Lease Agreement (Six Flags Inc)

Base Rent. As Tenant shall deliver to Landlord, concurrent with ▇▇▇▇▇▇’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 Commencement DateSubsequent Abatement Period occurs (or, Tenant covenants and agrees to timely pay without noticeif such date does not occur on the first day of a calendar month, deduction, off-set or abatement to Base Rent for the Landlord at first full calendar month following the Building, or such other address as Landlord may notify Tenant of date in writing, yearly and every year during which the Term hereof, day immediately following the Rent in lawful money expiration of the United StatesSubsequent Abatement Period occurs). Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereofTerm hereof after the expiration of DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ – ▇▇▇▇▇ ▇▇▇/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., ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇.). Payments of Base Rent is considered late and Tenant for any fractional calendar month shall be in default prorated. Notwithstanding anything to the contrary contained herein, if rent is received after 5:00 o’clock p.m. on the fifth (5th) day expiration of the month. A penalty of fifty dollars ($50.00) per day will be assessed Subsequent Abatement Period occurs on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires of a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on any the day other than immediately following the last day expiration of the monthSubsequent 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 ▇▇▇▇▇, 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 fraction of a month at period commencing on the commencement and at Rent Commencement Date through the end 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 Term Subsequent Abatement Period. For the avoidance of doubt, Tenant shall be adjusted pro rata on a per diem basis, required to pay Operating Expenses and all succeeding installments of Base Rent shall be paid on other amounts payable under the first (1st) day of each month Lease during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawSubsequent Abatement Period.

Appears in 1 contract

Sources: Lease Agreement (CARGO Therapeutics, Inc.)

Base Rent. As Tenant shall pay, without notice or demand, to Landlord or Landlord’s agent at the management office of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or at such other address place as Landlord may notify Tenant of from time to time designate in writing, yearly and every year during the Term hereof, the Rent monthly installments of base rent (“Base Rent”) as set forth in lawful money Section 8 of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid Summary, in advance on or before the first (1st) day of each and every month during the term hereofLease Term, without any setoff or deduction whatsoever. Notwithstanding anything to the contrary contained herein and provided that Tenant faithfully performs all of the terms and conditions of this Lease, Landlord hereby agrees to ▇▇▇▇▇ Tenant’s obligation to pay monthly Base Rent is considered late and Additional Rent for the first five (5) full months plus the first two (2) weeks of month six (6) of the initial Lease Term. During such abatement periods, Tenant shall still be in default if rent is received after 5:00 o’clock p.m. on responsible for the fifth (5th) day payment of the month. A penalty all of fifty dollars ($50.00) per day will be assessed on any sums due its other monetary obligations under the lease which are received after the fifth (5th) day of the monththis Lease. In the event of a default by Tenant under the terms of this Lease that Landlord is required results in early termination pursuant to post a 3-day notice for non-payment the provisions of rent or for any other breach Section 19.1 of the this Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due then as an essential a part of the cure recovery set forth in Section 20 of defaultthis Lease, Landlord shall be entitled to the recovery of the monthly Base Rent abated under the provisions of this Article 3. The Base Rent for the first full month of the Lease Term (or if the first full month of the Lease Term is within a free rent period, then the Base Rent for the first full month which occurs after the expiration of any free rent period) shall be paid at the time of Tenant’s execution of this Lease. If any rental or other payment date (including the Term hereof commences Lease Commencement Date) falls on any a day of the month other than the first day of such month or expires on if any day rental or other payment is for a period which is shorter than the last day of the one month, Rent then the rental or other payment for the fraction any such fractional month shall be a proportionate amount of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid full calendar month’s rental or other payment based on the first (1st) day proportion that the number of each days in such fractional month bears to the number of days in the calendar month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawwhich such fractional month occurs.

Appears in 1 contract

Sources: Office Lease (Planar Systems Inc)

Base Rent. As Tenant shall pay, without prior notice or demand, to Landlord or Landlord's agent at the management office of the Commencement DateProject, Tenant covenants and agrees to timely pay without noticeor, deductionat Landlord's option, off-set or abatement to the Landlord at the Building, or such other address place as Landlord may notify Tenant of from time to time designate in writing, yearly and every year during by a check for currency which, at the Term hereoftime of payment, is legal tender for private or public debts in the Rent United States of America, base rent ("Base Rent") as set forth in lawful money Section 4 of the United States. Base Rent is Summary, payable in the equal monthly installments as set forth on in Section 4 of the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid Summary in advance on or before the first (1st) day of each and every calendar month during the term hereofLease Term, without any setoff or deduction whatsoever, except to the extent expressly provided in this Lease. In accordance with Section 4 of the Summary, any increases in Base Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. occur on the fifth (5th) first day of the monthapplicable Lease Month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event The parties acknowledge, however, that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part Base Rent for each "calendar month" of the cure Lease Term (or a prorated portion of default. If the Term hereof commences on any day other than a "calendar month", as applicable), even though the first day or expires on any day other "Lease Month" may pertain to a period longer than the last day of the one (1) calendar month, . The Base Rent for the fraction of a month at the commencement and at the end first two (2) full calendar months of the Lease Term shall be adjusted pro rata 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 per diem basisdaily 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 all succeeding installments (ii) the then-applicable Monthly Installment of Base Rent 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 paid prorated on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawsame basis.

Appears in 1 contract

Sources: Office Lease (DermTech, Inc.)

Base Rent. As Tenant shall pay Base Rent in the amount set forth above. The first month's Base Rent, the Security Deposit, and the first monthly installment of estimated Operating Expenses (as hereafter defined) shall be due and payable on the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term date hereof, the Rent and Tenant promises to pay to Landlord in lawful money advance, without demand, deduction or set-off, monthly installments of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during succeeding the term hereofCommencement Date. Payments of Base Rent is considered late for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall be have no right at any time to abat▇, ▇▇duce, or set-off any rent due hereunder except where expressly provided in default if rent this Lease. If Tenant is received after 5:00 o’clock p.m. on the fifth (5th) day delinquent in any monthly installment of the month. A penalty Base Rent or of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice estimated Operating Expenses for non-payment of rent or for any other breach of the Leasemore than 5 days, Tenant shall pay to Landlord an administrative fee on demand a late charge equal to 3 percent of $250.00 such delinquent sum. The provision for such late charge shall be in addition to all of Landlord's other rights and attorneys fees of $250.00 (total of $500.00) together with any other sums due remedies hereunder or at law and shall not be construed as an essential part a penalty. Notwithstanding the above, Tenant shall not be obligated to pay the late charge until Landlord has given Tenant 5 days written notice of the cure of default. If delinquent payment (which may be give at any time during the Term hereof commences on delinquency); provided, however, that such notice shall not be required more than twice in any day other than 12-month period or five times over the first day or expires on any day other than the last day term of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawLease.

Appears in 1 contract

Sources: Lease Agreement (Phase Metrics Inc)

Base Rent. As (a) Tenant shall pay base rent (the “Base Rent”) to Landlord (i) at the rate of $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 day after the Completion Date applicable to all of the Commencement Dateitems of Landlord’s Initial Work other than the Initial AC Work or (B) November 1, Tenant covenants 1998, to and agrees to timely pay without notice, deduction, off-set or abatement to including the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on immediately preceding the fifth (5th) day anniversary of the month. A penalty Rent Commencement Date in equal monthly installments of fifty dollars $90,500.00 and (ii) at the rate of $50.00) 1,248,900.00 per day will be assessed on any sums due under year for the lease which are received after 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 the Rent Commencement Date and on the first day of each calendar month thereafter (appropriately prorated in the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach case of the first installment if the 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, upon the execution of this Lease, Tenant shall pay to Landlord $90,500.00 on account of the first installment of Base Rent becoming due hereunder. (c) If any of the Base Rent or additional rent (as defined in Section 2.06 hereof) payable under this Lease shall be or become uncollectible, reduced or required to be refunded because of any 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 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). 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 maximum extent legally permissible, an administrative fee 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 of this Lease beyond the expiration of all applicable grace and cure periods, Tenant shall be entitled to receive a credit against Base Rent accruing hereunder in the sum of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than 106,903.12 to be applied against the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawaccruing hereunder.

Appears in 1 contract

Sources: Lease (Digitas Inc)

Base Rent. As of Commencing on the Commencement Date, Tenant covenants Tenant, throughout the Term, and agrees without prior notice or demand, shall pay to timely pay without noticeLandlord, deductionin advance, off-set or abatement to the Landlord at the Building, address set out above or at such other address place or places as Landlord may notify Tenant from time to time direct, Total Rent on the first day of in writing, yearly and every year during the Term hereof, the Rent each month in lawful money of the United StatesStates of America. Base Total Rent is payable for any partial month shall be prorated using the percentage which the number of days in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant such partial month bears to the terms total number of Paragraph 7 hereofdays in said month. The covenant of Tenant to pay Rent hereunder is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late deemed a separate and individual covenant, and Tenant shall be have no right to deduction or setoff whatsoever, except as otherwise expressly set forth in default if rent is received after 5:00 o’clock p.m. on the fifth this Lease. (5tha) day Base Rent and Tenant’s pro rata share of the month. A penalty of fifty dollars Additional Expenses ($50.00collectively, “Rent”) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid due on the first (1st) day of each calendar month during and shall be deemed delinquent if not paid by the term hereoffifth (5th) day of such month. Should If any Rent is not received by Landlord in full on or before the fifth (5th) day of each month, Tenant shall pay a late charge of five percent (5%) of the unpaid Rent. Such late payment charges are due immediately when incurred. (b) Payment of Rent, and all sums due to Landlord hereunder, shall be by check or may be wired to an account designated by Landlord or Landlord’s agent and shall be payable to Landlord. Tenant shall pay all applicable bank charges incurred by Landlord, plus $35.00 for each returned check. In addition, if Landlord does not receive any installment of Rent, or any portion thereof, or any other sum due hereunder, within thirty (30) days after the date the same is due, or if Tenant fails to pay any other sum which at any time becomes due to Landlord under any provision of. this Lease as and when the same becomes due hereunder, then, in defaultany such event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an annual rate (the “Past Due Rate”) which equals the lesser of (i) eighteen percent (18%) per annum, or (ii) the highest rate then permitted by law. (c) Payment of Rent, and any other sums due hereunder, by Tenant shall be an independent covenant. In the event Tenant has net timely paid Rent, or any other sums due hereunder, for a period of more than two (2) occasions in any calendar year; or in the event of a returned check for insufficient funds or no account, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultthereafter require that all Rent, and Tenant must cover said check with other sums due hereunder, be paid when due by cashier’s check, certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawcheck, or money order, without prior notice.

Appears in 1 contract

Sources: Industrial Lease (Hyliion Holdings Corp.)

Base Rent. As of the Commencement Date, (a) Tenant covenants and agrees shall pay to timely pay without notice, deduction, off-set or abatement to the Landlord at the Buildingaddress set forth in Section 1(b), or to such other address person or at such other place as Landlord may notify Tenant of in writingfrom time to time designate, yearly without previous demand therefor and every year during the Term hereofwithout 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 is to be payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereofof the Lease. If the Rent is considered late and Start Date shall be other than the first day of a calendar month, Tenant shall be in default if rent is received after 5:00 o’clock p.m. pay Landlord on the fifth (5th) day particular Rent Start Date the proportionate amount of Base Rent for the balance of such month. A penalty The first full monthly installment of fifty dollars ($50.00) per day will Base Rent shall be assessed paid by Tenant on any sums due under the lease which are received after the fifth (5th) day execution of the monththis Lease. In the event that Landlord is required shall be unable to post satisfy the Approvals Requirement and Landlord or Tenant shall terminate this Lease, then Landlord shall return to Tenant the first installment of Base Rent. (b) The Base Rent set forth on the Rent Rider and Extension Options Rider has been calculated upon the assumption that the Premises has an aggregate floor area of precisely 106,000 square feet. Prior to the Commencement Date, Landlord shall furnish to Tenant a 3-day notice for non-payment of rent or for any other breach certification from B▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Architect and Design of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part aggregate floor area of the cure Premises and the Building. In the event that the aggregate floor area of default. If the Term hereof commences on any day Premises is other than 106,000 square feet, the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on proportionately adjusted. The square foot area of the first Premises and the Building shall be measured in accordance with BOMA 1996. (1stc) 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 for each such day of each month during delay, but in no event shall the term hereof. Should Tenant Rent Start Date be in defaultearlier than April 1, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law2005.

Appears in 1 contract

Sources: Lease Agreement (Party City Corp)

Base Rent. As of Commencing on the Rent Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of Landlord for each month during the term hereofLease Term as herein provided. Base Rent is considered late and Tenant shall be due and payable in default if rent is received after 5:00 o’clock p.m. advance on the fifth (5th) first day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on month without notice or demand, and without any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3set-day notice for non-payment of rent off, counterclaim, abatement or for any other breach of the deduction whatsoever, except as expressly set forth in this Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any Rent Commencement Date is a day other than the first day of a calendar month or expires in the event this Lease terminates on any day such other than the last day of the a calendar month, then Base Rent for the fraction of a each month at the commencement and at the end of the Term or months shall be adjusted pro rata on a per diem basis, prorated and all succeeding the installment or installments so prorated shall be paid in advance. In the event that Tenant fails to make any payment of Base Rent or any other amount payable to Landlord hereunder within five (5) days after the date such payment becomes due and payable, a late charge in an amount equal to the greater of: (i) four percent (4%) of such payment; or (ii) $150.00, shall also become due and payable to Landlord by Tenant, such late charge being for Landlord’s administrative and other costs and is in addition to and cumulative with any other rights and remedies which Landlord may have hereunder with regard to the failure of Tenant to make any payment of Base Rent or any other sum due hereunder. Notwithstanding the foregoing, no interest or late charges shall be paid on assessed for the first (1st) day late payment received by Landlord during any twelve (12) month period, if such payment is received by Landlord within five (5) days after Tenant’s receipt of each month during written notice from Landlord that such payment is late. As of the term date hereof. Should , Tenant be shall pay all amounts in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law.manner set forth below:

Appears in 1 contract

Sources: Lease (Entrada Therapeutics, Inc.)

Base Rent. As of In addition to Tenant's obligation to pay Base Rent for the Commencement DateOriginal Premises, Tenant covenants and agrees to timely shall pay without notice, deduction, off-set or abatement to Landlord the Landlord at the Building, or such other address sum of $93,941.10 as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. aggregate Base Rent is payable for the Expansion Space in the forty two (42) monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is ("Monthly Rental") as follows: A. Six (6) equal installments of $2,125.19 each payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late period beginning August 1, 1999, and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on ending January 31, 2000, provided that the fifth (5th) day installment of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice Monthly Rental for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a full calendar month at the commencement and at the end of the Term for the Expansion Space shall be adjusted pro rata on a per diem basis, and all succeeding payable upon the execution of this Amendment by Tena▇▇. B. Twelve (12) equal installments of Base Rent shall be paid $2,188.75 each payable on or before the first (1st) day of each month during the term hereof. Should Tenant be in defaultperiod beginning February 1, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default2000, and ending January 31, 2001. C. Twelve (12) equal installments of $2,254.53 each payable on or before the first day of each month during the period beginning February 1, 2001, and ending January 31, 2002. D. Twelve (12) equal installments of $2,322.55 each payable on or before the first day of each month during the period beginning February 1, 2002, and ending January 31, 2003. All such Base Rent shall be payable by Tenant must cover said check in accordance with certified funds plus the penalty contained hereinterms of the Lease. Landlord may also seek additional relief and Tenant acknowledge that the foregoing schedule is based on the assumption that the Expansion Effective Date is the Target Expansion Effective Date. If the Expansion Effective Date is other than the Target Expansion Effective Date, the schedule set forth above with respect to the payment of any installments of Base Rent for the Expansion Space shall be appropriately adjusted on a per diem basis to reflect the actual Expansion Effective Date and the actual Expansion Effective Date shall be set forth in a confirmation letter to be prepared by Landlord. However, the effective date of any increases or decreases in the Base Rent rate shall not be postponed as a result of an adjustment of the Expansion Effective Date as provided by lawabove.

Appears in 1 contract

Sources: Office Lease Agreement (Pivotal Corp)

Base Rent. As Sublessee shall pay to Sublessor an amount equal to the monthly installment of Base Rent for the fifth full month of the Term (Forty-Three Thousand Seven Hundred Thirty-Nine and Eighty One-Hundredths Dollars ($43,739.80)) upon execution of this Sublease. Commencing on the Commencement Date, Tenant covenants Sublessee shall pay Base Rent to Sublessor as rent for the Premises, in monthly installments in advance, and agrees to timely pay thereafter on the first day of each calendar month of the Term, without notice, deduction, off-set offset, prior notice or abatement to the Landlord at the Buildingdemand, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States; provided, however, that Sublessee shall be entitled to four (4) month's free Base Rent with respect to the first four (4) months following the Commencement Date, as indicated in the chart contained in the definition of Base Rent in Section 1 above. The abatement of the first four months of Base Rent, as provided in the foregoing sentence, does not affect Sublessee's obligation to pay Additional Rent with respect to such period. In addition, in the event of any default by Sublessee hereunder, in addition to any other remedies available to Sublessor at law or in equity or under this Sublease, upon demand of Sublessor, Sublessee shall pay to Sublessor an amount equal to the amount of the first four months of Base Rent that was abated pursuant to this Section 6(a). If the first day for which the monthly installment of Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than not the first day of a calendar month, or expires on any day other than if the last day of the Term is not the last day of a calendar month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments monthly installment of Base Rent shall be paid on prorated for the first (1st) day fractional month(s). In the case of each a proration at the beginning of the Term, Sublessee shall pay the proration for such partial month during upon the term hereofdue date for Base Rent for the second month of the Term. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever Sublessee shall pay the proration for the last month of the Term when Base Rent for such month is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawdue.

Appears in 1 contract

Sources: Sublease Agreement (Corixa Corp)

Base Rent. As of (a) During the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the LeaseTerm, Tenant shall pay annual Base Rent (and all other Rent due and owing by Tenant under this Lease) to Landlord an administrative fee at such place as Landlord shall from time to time designate in writing, such annual Base Rent to be payable in equal monthly installments, as set forth in the chart below. References to numbered “Months” shall mean full calendar months following the Commencement Date. *As shown in the chart above, provided that no Event of $250.00 Default (as hereinafter defined) then exists, the Base Rent due for months 1-12 shall be calculated on the basis of 25,000 rentable square feet only and attorneys fees the Base Rent due for months 13-24 shall be calculated on the basis of $250.00 (total 32,000 rentable square feet only. The difference between the Base Rent payable during such months in accordance with the chart above and the Base Rent that would have been payable on the entire rentable square footage of $500.00) together with the Premises at the rate set forth above for such months is referred to herein as the “Abated Rent.” In no event shall the abatement set forth herein be deemed to reduce or eliminate Tenant’s obligation to pay Tenant’s Share of CAM Charges, Taxes or Insurance or any other sums amounts due as an essential part of under the cure of default. If the Term hereof commences on any day Lease other than the first day or expires on any day other than Abated Rent as set forth above. If this Lease shall terminate prior to the last day expiration of the monthinitial Term as a result of an Event of Default by Tenant hereunder, Rent for then the fraction of a month at the commencement and at the end then-unamortized portion of the Term Abated Rent shall be adjusted pro rata on a per diem basisbecome immediately due and payable to Landlord. The foregoing is in addition to, and all succeeding not in lieu of, any other remedies available to Landlord at law, in equity or otherwise. (b) All monthly installments of Base Rent shall be paid payable to Landlord in advance on the first (1st) day of each month during the term hereofTerm without notice, demand, deduction or set-off. Should Together with executed copies of this Lease, Tenant shall deliver to Landlord (i) first full month’s installment of Base Rent, and (ii) a security deposit as set forth in Section 5 below. Tenant shall timely pay Rent (as hereinafter define) to Landlord (either directly or to its expressly designated agent or designee) in lawful money of the United States of America (thus expressly excluding any non-U.S. currency and excluding any cryptocurrency or similar form of currency), as directed by ▇▇▇▇▇▇▇▇ in writing, (i) via check, sent to Landlord’s street address provided in this Lease (or such other street address(es) as Landlord may specify hereunder); or, upon ▇▇▇▇▇▇▇▇’s written request, (ii) via wire transfer, ACH payment or similar electronic means (“Electronic Remittance”). If Landlord instructs Tenant to remit payments of Rent via Electronic Remittance, then Landlord shall provide Tenant with written instructions therefor from time to time (collectively, “Electronic Remittance Instructions”). Tenant shall continue to remit Rent to Landlord via Electronic Remittance using such Electronic Remittance Instructions unless and until Landlord provides new Electronic Remittance Instructions or notifies Tenant in writing that payments should thereafter be made via check or some other method, as set forth above. Tenant shall remain liable for all Rent owed hereunder, and ▇▇▇▇▇▇ shall release and discharge Landlord for any liability for any amounts not properly credited against Tenant’s Rent obligation due to any inaccuracy or mistake made by Tenant in defaultits in use of the Electronic Remittance Instructions. Further, Landlord may collect $50.00 per day penalty shall not be responsible or have any liability for any loss of funds caused by (y) the errors and omissions of Tenant’s financial institution, its employees or agents in the processing, transmission or proper crediting of such transmitted funds, or (z) any illegal interference with any such transmission of funds by any third party or parties, including any criminal or tortious activities by such party or parties, and the foregoing shall not constitute a default by Tenant but shall not relieve Tenant of its obligation to pay Rent in accordance with this Lease. Rent due pursuant to this Lease and remitted via Electronic Remittance shall be deemed received only when Landlord or its designated agent actually receives such funds in its designated account. (c) All charges payable by Tenant under the terms of this Lease other than Base Rent are called “Additional Rent.” Unless this Lease provides otherwise, all Additional Rent shall be paid concurrently with each monthly installment of Base Rent. The term “Rent” shall mean Base Rent and Additional Rent. All payments of Rent shall include sales and use tax in accordance with applicable law. All Rent due and owing by Tenant under this provision Lease shall be paid by Tenant to Landlord without deduction, set off or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawabatement.

Appears in 1 contract

Sources: Lease Agreement (Applied Optoelectronics, Inc.)

Base Rent. As of Commencing on the Base Rent Commencement DateDate and, Tenant covenants and agrees to timely pay without noticeexcept as otherwise expressly provided herein in Section 8.01(a), deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during continuing thereafter for the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee the Landlord, as base rent (“Base Rent”) the following amounts per annum [***]: Rent Year Annual Base Rent [***] Additional Annual Base Rent [***] Rent Year 1 – (i.e., Base Rent Commencement Date through end of $250.00 and attorneys fees of $250.00 (total of $500.00Initial Rent Period) together with any other sums due as an essential part of the cure of default. If [***] [***] Rent Year 2 [***] [***] Rent Year 3 [***] [***] Rent Year 4 [***] [***] Rent Year 5 [***] [***] Rent Year 6 [***] [***] Rent Year 7 through each remaining Rent Year during the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, and Extension Options The annual Base Rent for the fraction immediately preceding Rent Year, adjusted by the change in the Index for the immediate twelve month period using the Index formula as set out herein. Upon the approval of a month at the commencement Approved Master Plan, the parties shall calculate the annual Base Rent [***]. An example of the calculation for determining the annual Base Rent based on the foregoing chart [***] is attached hereto as Exhibit D. At the end of Rent Year 6, (i.e., prior to the beginning of Rent Year 7) and at the end of each Rent Year thereafter, the Term annual Base Rent for the next succeeding Rent Year shall be calculated by multiplying the annual Base Rent for the just ended Rent Year by the quotient obtained by dividing the Index for the most recent month available (“Base Month”) by the Index for the month one year prior to that most recent Index, provided, however, that such adjusted pro rata annual Base Rent shall not in any event be less than the annual Base Rent in effect on a per diem basisthe day before the commencement of such next succeeding Rent Year. If, in any year, the Index is not yet available for the Base Month, the adjusted annual Base Rent shall be calculated using the Index of the most recent month available and all succeeding subsequently adjusted and trued up when the Index for the Base Month is available. Base Rent shall be paid by electronic funds transfer in equal monthly installments in advance on the first day of each and every month except that the first installment shall be made on the Base Rent Commencement Date. Payments of Base Rent shall be paid prorated as appropriate for a partial month at the beginning of and the end of the Term. For any month in which the annual Base Rent changes based on the first (1st) day chart above, Tenant shall pay Base Rent for the prior Rent Year ending during such month prorated based on the number of each days of such prior Rent Year occurring in such month during and shall pay Base Rent for the term hereof. Should Tenant be current Rent Year starting in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event such month based on the number of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawdays of such current Rent Year occurring in such month.

Appears in 1 contract

Sources: Ground Lease (MGM Resorts International)

Base Rent. As Lessee shall pay to Lessor as mat for the Premises, monthly payments in advance, on the first day of each month of the Commencement Dateterm 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, Tenant covenants and agrees to timely pay without notice2000 October 31, deduction2002 $4,993.33 November 1, off-set or abatement 200k2 October 31, 2004 $5,200.00 November 1, 2004 October 31, 2005 $5,416.67 Rent for any period during the term hereof which is for less than one month shall be a pro rata portion of the monthly installment. In addition to the Landlord at base monthly rent, Lessee shall also pay to Lessor all additional Rents, incremental Rents, charges and fees (collectively referred to as the Building"Rent") as provided for in the Lease or in any other agreement or writing between the parties. All Rents shall be paid by Lessee promptly when due, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United StatesStates of America, without notice or demand, and without deduction, abatement, counterclaim, recoupment or set-off of any amount or for any reason whatsoever. Base All Rent is payable to be paid to the Lessor at the address set forth in the monthly installments set forth 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 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 Lessor in 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 Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant or any other agreements or writings between the parties and to observe and timely fulfill and perform all of its obligations to the terms of Paragraph 7 hereofLessor. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. Lessee agrees that, In the event that Landlord is it falls to make any payments when due or to perform any obligation required to post a 3-day notice for non-payment of rent or for any other breach it, it shall be deemed in default of the LeaseLease and Lessor shall have all remedies available to it under this Lease and/or available to a Landlord under the law, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term whichever shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawmore expansive.

Appears in 1 contract

Sources: Warehouse Lease Agreement (Able Laboratories Inc)

Base Rent. Base Rent during the first year of the Lease term shall determined by multiplying the actual Project Costs (as defined in Section 6(g) of the Development Agreement) by eight and one-half percent (8.5%) (hereinafter “Base Rent”). By way of illustration only, the budget for Project Costs is $19,391,187, which (if fully used) results in the initial Base Rent being $1,648,250.89 per annum, payable in monthly installments of $137,354.24. At least thirty (30) days prior to the Commencement Date, Landlord shall notify Tenant, in writing, of Landlord’s best estimate of the actual Project Costs and the Base Rent shall be initially calculated based on such estimate. Within forty-five (45) days after the Commencement Date, Landlord shall furnish Tenant with a final, written statement of Project Costs and the Base Rent shall be recalculated based thereon; provided Tenant shall have the right to dispute any Project Costs in accordance with the Development Agreement and the Base Rent shall be recalculated again once such dispute is resolved pursuant thereto. Within fifteen (15) business days after any recalculation of Project Costs, Landlord or Tenant, as applicable, shall make any payments necessary to cause Tenant to have paid the correct Base Rent with respect to prior periods, but not more. As soon as Project Costs are finally known, Landlord and Tenant shall execute a written certificate setting forth the exact Base Rent for the first (1st) year of the Lease term. Notwithstanding anything to the contrary, for purposes of calculating the Base Rent, in no event will the actual Project Costs exceed the Maximum Project Costs (as defined in the Development Agreement). Base Rent shall be increased annually by two and one half percent (2.5%) each year, such increases to be effective on the first day of the month following the anniversary of the Commencement Date (unless the Commencement Date is on the first day of a month, in which case Base Rent will be increased annually on the anniversary of the Commencement Date, Tenant covenants ) throughout the term and agrees to timely pay without notice, deduction, off-set any renewal or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money extension terms of the United StatesLease. Base Rent is payable shall be due and paid in the equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) 1st day of each calendar month during throughout the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawLease term.

Appears in 1 contract

Sources: Lease Agreement (Global Medical REIT Inc.)

Base Rent. As part of the Commencement Dateconsideration for the execution of this Lease Agreement, Tenant covenants and agrees and promises to timely pay as Base Rent a total sum as provided below payable to Landlord in monthly installments in legal tender of the United States of America (which may be made via ACH transfer), in advance, without notice, demand and without deduction, offset-set off or abatement to counterclaim on the Landlord at the Building, or such other address as Landlord may notify Tenant first day of in writing, yearly and every year each calendar month during the Term hereof, . Such Base Rent shall be subject to adjustments as provided herein. Notwithstanding the fact that no Base Rent in lawful money is due for the first three (3) months of the United StatesTemporary Term and the first three (3) months of the Long Term, Tenant is obligated to pay for utilities and all Additional Rent (as defined hereinbelow) during such periods. Temporary Term Months 1- 3 $0.00 Thereafter until the Commencement Date $11.75 Long Term Months 1-3 $0.00 Months 4- 15 $11.75 Months 16- 27 $12.25 Months 28- 39 $12.75 Months 40- 51 $13.25 Months 52- 63 $13.75 A. In addition to the Base Rent and the Additional Rent to be paid by Tenant pursuant to Section 6 below, Tenant agrees to pay to Landlord as additional rent all reasonable charges for any services, goods or materials furnished by Landlord at Tenant's request, which are not required to be furnished by Landlord under this Lease Agreement, as well as other sums payable hereunder by Tenant. Base Rent is as well as all charges pursuant to this section and hereunder are payable in the monthly installments advance and without demand, deduction or set forth off on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultterm. If the Term hereof commences begins on any a day that is other than not the first day or expires on any day other than the last day of the month, Rent Tenant shall be required to pay only a pro rata portion of the monthly installment for the fraction of a first partial month at the commencement and at the end of the Term for which rent is payable hereunder. B. Subject to the applicable notice and cure provisions of this Lease Agreement, all past due installments which are more than five (5) days overdue shall be adjusted pro rata on a bear interest at the rate of twelve percent (12%) per diem basis, and all succeeding installments of Base Rent shall be paid on annum or the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36highest lawful rate, whichever is greaterless (the "Default Rate"), from the sixth (6th) day following 3 of 51 the due date until paid. Landlord, at its option, shall have the right to collect from Tenant, five cents ($0.05) for each dollar ($1.00) of each installment of Rent which is not received within fifteen) (15) days after its due date for any reason whatsoever (subject to the notice and cure requirements hereunder, if any) and Tenant agrees to pay such amount immediately on demand as liquidating damages to cover the additional cost of collecting and processing such late payments. Any rent check returned for insufficient funds payment which is less than the amount due shall constitute an event a payment made on account thereof, the parties hereto agreeing that the Landlord 's acceptance of defaultthat payment shall not alter or impair the Landlord's rights under this Lease to be paid all of such amounts then due, or in other respect. Tenant acknowledges that the late payment by Tenant to Landlord of amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment by Tenant. C. If the rentable area of the Leased Premises is modified for any reason, the provisions of this Lease Agreement which are contingent upon the size of the Leased Premises (including without limitation, Base Rental, Additional Rent, Security Deposit, Tenant's pro rata share, and number of unreserved parking spaces) shall be automatically adjusted to reflect the modification of the rentable area of the Leased Premises, effective as of the date of the determination made. If the rentable area of the Building is modified for any reason, the provisions of this Lease Agreement which are contingent upon the size of the Building (including, without limitation, Tenant must cover said check with certified funds plus 's pro rata share) shall automatically be adjusted to reflect the penalty contained hereinmodification of the rentable area of the Building, effective as of the date of the determination. Landlord may also seek additional relief The parties shall memorialize all such adjustments in an amendment to this Lease Agreement as provided by lawsoon as reasonably possible thereafter.

Appears in 1 contract

Sources: Lease Agreement (Soliton, Inc.)

Base Rent. As of (a) Tenant shall pay, commencing on the Entire Premises Commencement Date, Tenant covenants 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 in advance on the first day of the Term and agrees to timely pay without notice, deduction, off-set or abatement to on the Landlord at first day of each calendar month thereafter of the BuildingTerm. If the Term shall begin on any date 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 any such other address as Landlord may notify Tenant of in writing, yearly and every year during partial calendar month within the Term hereofshall 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 "Rent") shall be paid in lawful money of the United StatesStates to Landlord at the office of Landlord at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, or as otherwise designated from time to time by written notice from Landlord to Tenant. Base The payment of Rent hereunder is payable independent of each and every other covenant and agreement contained in 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 monthly installments set forth on the time payment is made. (c) Notwithstanding anything in this Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before contrary, from the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day to occur of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under Floor Commencement Date for the lease which are received after the fifth (5th) day mezzanine level space of the month. In Premises or the event that Landlord is required to post a 3-day notice Floor Commencement Date for non-payment of rent or for any other breach the second floor space of the LeasePremises until the Entire Premises Commencement Date, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part for either the mezzanine level space of the cure of default. If Premises or the Term hereof commences on any day other than the first day or expires on any day other than the last day second floor space of the monthPremises for which the Floor Commencement Date has occurred, as the case may be, Base Rent for 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 fraction of a month at the commencement and at the end proportion of the Term shall be adjusted pro rata on a per diem basisrentable area of the mezzanine level space in the Premises (i.e., and all succeeding installments 90,026 square feet) or the rentable area of Base Rent shall be paid on the first second floor space in the Premises (1st) day i.e., 48,972 square feet), as applicable, to the rentable area of each month during the term hereof. Should Tenant be in defaultPremises (i.e., Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law.138,998 square feet)

Appears in 1 contract

Sources: Office Lease (Excal Enterprises Inc)

Base Rent. As of 5.1 Commencing on the Commencement Date, Tenant covenants and agrees to timely pay during the Lease Term, to Landlord, without noticeany set off or deduction whatsoever (except as otherwise expressly provided in this Lease), deductionand as an independent covenant, off-set or abatement the Base Rent and all such other sums of money as shall become due hereunder as additional rent, all of which are sometimes herein collectively called “rent”, for the nonpayment of which Landlord shall be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base Rent. Notwithstanding anything to the contrary contained in this Lease, Tenant’s obligation to pay rent as to the First Floor Space shall not commence until (i) Landlord has delivered possession of the First Floor Space to Tenant with the Tenant Improvements in the First Floor Space Substantially Completed, and (ii) to the extent applicable, a certificate of occupancy has been issued for the Tenant Improvements in the First Floor Space, or the governmental authority has furnished equivalent evidence that Tenant may legally use and occupy the First Floor Space for its office operation. The annual Base Rent for each calendar year or portion thereof during the Lease Term, together with any estimated adjustment thereto pursuant to Paragraph 6 hereof then in effect, shall be due and payable in advance, without demand or setoff, in twelve (12) equal installments on the first day of each calendar month during the initial term of this Lease and any extensions or renewals thereof, and Tenant hereby agrees to pay such Base Rent and any adjustments thereto to Landlord at the BuildingLandlord’s address provided in P▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ 36.12(a) (or such other address as may be designated by Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant writing from time to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaulttime). If the Term hereof term of this Lease commences on any a day other than the first day of a month or expires terminates on any a day other than the last day of the a month, Rent for then the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent and any adjustments thereto for such month or months shall be paid prorated, based on the first number of days in such month. 5.2 All installments of rent not paid when due and payable shall bear interest from the date due until paid at the lesser of the rate of twelve percent (1st12%) day of each month during per annum or the term hereof. Should maximum lawful rate. 5.3 Tenant be in default, Landlord may collect $50.00 per day penalty shall also pay with all rentals and other payments due under this provision Lease an amount equal to all sales, use, excise and other taxes now or 18% interest hereafter imposed by any lawful authority on all amounts due or required under Paragraph 36this Lease and classified as rent by any such authority. 5.4 Notwithstanding anything to the contrary contained in this Lease, whichever is greater. Any rent check returned Base Rent and Tenant’s obligation to pay Tenant’s Proportionate Share of increases in Operating Expenses shall be abated for insufficient funds shall constitute an event the first four (4) months of default, the Lease Term and Tenant must cover said check shall have no obligation to pay such items with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawrespect to such period.

Appears in 1 contract

Sources: Lease Agreement (Tandem Health Care, Inc.)

Base Rent. As of Commencing on the Rent Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement the Base ▇▇▇▇ to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of for each month during the term hereofLease Term as herein provided. Base Rent is considered late and Tenant shall be due and payable in default if rent is received after 5:00 o’clock p.m. advance on the fifth (5th) first day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on month without notice or demand, and without any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3set-day notice for non-payment of rent off, counterclaim, abatement or for any other breach of the deduction whatsoever, except as expressly set forth in this Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any Rent Commencement Date is a day other than the first day of a calendar month or expires in the event this Lease terminates on any day such other than the last day of the a calendar month, then Base Rent for the fraction of a each month at the commencement and at the end of the Term or months shall be adjusted pro rata on a per diem basis, prorated and all succeeding the installment or installments so prorated shall be paid in advance. In the event that Tenant fails to make any payment of Base Rent or any other amount payable to Landlord hereunder within five (5) days after the date such payment becomes due and payable, a late charge in an amount equal to the greater of: (i) four percent (4%) of such payment; or (ii) $150.00, shall also become due and payable to Landlord by Tenant, such late charge bein▇ ▇▇▇ Landlord’s administrative and ▇▇▇▇▇ ▇osts and is in addition to and cumulative with any other rights and remedies which Landlord may have hereunder with regard to the failure of Tenant to make any payment of Base Rent or any other sum due hereunder. Notwithstanding the foregoing, no interest or late charges shall be paid on assessed for the first (1st) day late payment received by Landlord during any twelve (12) month period, if such payment is received by Landlord within five (5) days after Tenant’s receipt of each month during written n▇▇▇▇▇ from Landlord that such payment is late. As of the term date hereof. Should , Tenant be shall pay all amounts in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law.manner set forth below:

Appears in 1 contract

Sources: Lease Agreement (Entrada Therapeutics, Inc.)

Base Rent. As of Commencing on the Rent Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement but subject to the Landlord Initial Abatement Period and the Second Abatement Period and the Initial Improvement Allowance and the Second Improvement Allowance, Sublessee shall pay to Sublessor, at the Buildingaddress specified in this Sublease for the giving of notices to Sublessor, or at such other address place as Landlord Sublessor may notify Tenant of specify in writing, yearly and every year during the Term hereofwithout any prior notice or demand, the annual rent (“Base Rent”) as follows: Rent in lawful money Commencement Date – December 31, 2020 $12.00 per Rentable Square Foot of the United States. Base Rent is payable in Premises (excluding the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first Parking Deck) (1st$382,442.00 per month) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day January 1, 2021 – August 23, 2035 $10.00 per Rentable Square Foot of the month. A penalty of fifty dollars Premises (excluding the Parking Deck) ($50.00318,701.67 per month) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of The Base Rent shall be paid due and payable in equal monthly installments, in advance, beginning on the Rent Commencement Date and continuing on the first (1st) day of each succeeding month during thereafter throughout the term hereofTerm, without demand, deduction or offset (except as specifically set forth herein); provided, however, that the monthly installment of Base Rent payable for any partial calendar month shall be prorated on a daily basis. Should Tenant be Sublessee fail to pay any installment of Base Rent, such late payment shall bear interest at the Default Rate commencing upon the due date therefor until paid in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultfull, and Tenant must cover said check if any such payment is not made within fifteen (15) days after Sublessee’s receipt of notice that the same is past due, Sublessee shall in addition pay a late charge equal to two percent (2%) of the amount of such late payment. Sublessee may make payments of Base Rent via electronic payment (e.g., ACH or wire transfer) at no additional cost to Sublessee. Upon request, Sublessor will provide Sublessee with certified funds plus the penalty contained herein. Landlord may also seek additional relief Sublessor’s current accurate wiring instructions or similar information to permit electronic payment, and will update such information by sending notice to Sublessee as provided by lawin Section 31 hereof.

Appears in 1 contract

Sources: Sublease Agreement (Red Hat Inc)

Base Rent. As of Lessee shall pay to Lessor monthly base rent for the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments Premises set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereofbelow. Rent is due and Said base rent shall be paid in advance on or before the first day of each and every calendar month during the Term in the amount per month set forth below. For the purpose of this Lease a “rental month” shall mean the period from the first (1st) day of each calendar month during to the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth first (5th1st) day of the next succeeding month. A penalty of fifty dollars ($50.00) per day will be assessed Should rental begin to accrue on any sums due under the lease which are received after the fifth (5th) other day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day (1st) of the month, Rent for the fraction of a then that first (1st) partial month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basisprorated the exact number of days that are used, and all succeeding installments of Base Rent rent paid for those days. Then this Lease shall be paid considered to have commenced on the first (1st) day of each month during the term hereoffollowing month. Should Tenant be in defaultWhen the actual commencement date is determined, Landlord may collect $50.00 per day penalty the parties agree to execute a memorandum prepared by Lessor setting forth the actual date of commencement of the leased term, and attach a copy thereof to this Lease. During such period Lessee shall keep and perform all the obligations under this provision or 18% interest under Paragraph 36, whichever is greaterLease. All subsequent monthly rental payments shall be paid in advance on the first day of each calendar month starting with the commencement date. Any amount payable by Lessee hereunder in addition to the above described base rent check returned for insufficient funds shall constitute an be deemed additional rent payable by lessee, and in the event of defaultnonpayment thereof, Lessor shall have the same rights with respect to such nonpayment as it has with respect to any nonpayment of base rent. Said base rent shall be paid to Lessor without deduction of set off, in lawful money of the United States of America, to Lessor or its agent at such address or to such other person or at such other place as Lessor may from time-to-time designate. Lessee shall pay: (a) $ 4,013.60 upon execution of this Lease. (b) $ 1,709.32 per month shall be the base rent due for each rental month from the first (1st) month, Months 2-12 $2,038.04, Months 13-24 $2,137.46 and Tenant must cover said check with certified funds plus Months 25-36 $2,236.88 (c) $ 30.00 of the penalty contained amount in (a) above shall apply to the first (1st) full month’s janitorial. (d) $ 2,236.88 the amount in (a) above shall apply to and be the Security Deposit described in Section 5, herein. (e) $ 0.00 of the amount in (a) above shall apply to the first (1st) full month’s covered parking fees (f) $ 37.40 of the amount in (a) shall apply to 0.5 percent (0.5%) Maricopa County Tax and 1.65 percent (1.65%) Scottsdale Privilege Tax. Landlord may also seek additional relief as provided by lawFuture months’ taxes will be based on the total of base rent, parking and janitorial monthly.

Appears in 1 contract

Sources: Lease (Adeptpros Inc)

Base Rent. As Tenant agrees to pay to Landlord at Landlord’s mailing address identified in Section 1.1, or at such other place as Landlord shall from time to time designate in writing, base rent, as calculated below, in equal monthly installments, and proportionately at such rate for any partial month (“Base Rent”). Payment of Base Rent shall commence on the Rent Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address unless otherwise delayed as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due herein, and shall be paid monthly in advance on or before the first (1st) day of each and every calendar month during the term hereof. Term, Payments of Base Rent is considered received more than five (5) days after the due date may be subject to a late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth payment penalty equal to two percent (5th2%) day of the monthpayment amount for each month the payment is late. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Tenant’s Base Rent for the fraction Leased Premises shall be equal to and fixed at a rate of $26.80 per square foot, based on the net rentable area of the Leased Premises as determined and confirmed by Section 2.1 above, provided, however, in the event the annual interest rate on the Construction Loan exceeds 4.50%, then Base Rent for the Leased Premises shall increase as set forth on Exhibit B up to a month maximum rate of $28.49 per square foot, it being the intent hereof that, for purposes of calculating the fixed rate of Base Rent pursuant to this Section 4.1, said annual interest rate shall be capped at 5.50%. Once determined in accordance with the foregoing, the Base Rent shall remain fixed for the first five (5) lease years hereunder, measured from the Rent Commencement Date, Commencing at the commencement inception of the 6th anniversary of the Rent Commencement Date, and at annually thereafter, the end Base Rent shall esoalate for each remaining year of the Term shall at the rate of 1% per annum over the prior year’s Base Rent. Subject at all times to Landlord’s remaining obligations set forth in this Lease and in the Work Letter, including, but not limited to, as set forth in Section 2.3 above, the Leased Premises are anticipated to be adjusted pro completed in stages with the Rent Commencement Date(s) occurring thirty (30) days following Substantial Completion of each stage. The Base Rent coming due at each stage will be a pro-rata on a per diem basis, and all succeeding installments allocation of Base Rent shall be paid on based upon the first (1st) day percentage of completion that each month during such stage represents relative to the term hereofoverall net rentable area of the completed Project, as determined and confirmed by Section 2.1 above. Should Tenant be The allocation for any staged rent due for the Parking Facility is as set forth in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawParking Lease.

Appears in 1 contract

Sources: Lease Agreement (HS Spinco, Inc.)

Base Rent. As Commencing on the date set forth in Section 4.1 of the Summary (the "Rent Commencement Date"), Tenant covenants and agrees shall pay, without prior notice or demand, to timely pay without notice, deduction, off-set Landlord or abatement to the Landlord Landlord's agent at the Buildingaddress set forth in Section 4.3 of the Summary, or or, at Landlord's option, at such other address place as Landlord Landlord, may notify Tenant of from time to time designate in writing, yearly and every year during by a check for currency which, at the Term hereoftime of payment, is legal tender for private or public debts in the Rent United States of America, base rent ("Base Rent") as set forth in lawful money Section 4 of the United States. Base Rent is Summary, payable in the equal monthly installments as set forth on in Section 4 of the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid Summary in advance on or before the first (1st) day of each and every calendar month during the term hereofLease Term, without any setoff or deduction whatsoever. If any Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. payment date (including the Base Rent Commencement Date) falls on the fifth (5th) a day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day month other than the first day of such month or expires on if any day other payment of Rent is for a period which is shorter than the last day of the one month, the Rent for any fractional month shall accrue on a daily basis for the fraction of a month at period from the commencement and at date such payment is due to the end of such calendar month. All other payments or adjustments required to be made under the Term terms of this Lease that require proration on a time basis shall be adjusted pro rata prorated on a per diem the same basis, and all succeeding installments of . The Base Rent shall be adjusted on each anniversary of the Lease Commencement Date as set forth in Section 4.4 of the Summary. Any installment of rent or any other charge payable which is not paid on within ten (10) business days after it becomes due will be considered past due and Tenant will pay to Landlord as Additional Rent a late charge equal to the first product of five percent (1st5%) day times the amount of each month during such installment amount due, or the term hereof. Should Tenant be in default, Landlord may collect sum of one hundred dollars ($50.00 per day penalty under this provision or 18% interest under Paragraph 36100.00), whichever is greater, plus monthly interest at the rate of the variable Prime Rate “Prime”, plus six percent (6%) per annum as charged by Bank of America, Nevada, or the maximum legal interest rate, whichever is less, for each month or fractional month transpiring from the date due until paid. Any A twenty-five dollar ($25.00) handling charge will be paid by Tenant to Landlord for each returned check and, thereafter, Tenant will pay all future payments of rent check returned or other charges due by money order or cashier’s check. In the event a late charge is assessed for insufficient funds three (3) consecutive rental periods, whether or not it is collected, the Rent shall constitute an event without further notice become due and payable quarterly in advance notwithstanding any provision of defaultthis Lease to the contrary. If Tenant shall be served with a demand for the payment of past due rent, and any payments tendered thereafter to cure any default by Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided shall be made only by lawcashier’s check.

Appears in 1 contract

Sources: Triple Net Commercial Lease Agreement

Base Rent. As Tenant agrees to pay Landlord a “Base Rent” in accordance with the terms and provisions of Exhibit “C” annexed hereto as part of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly Lease for each and every year during calendar month of the Term hereofof this Lease, the Rent without any offset or deduction whatsoever in lawful (legal tender for public or private debts) money of the United StatesStates of America, at the management office of the Building or elsewhere as designated from time to time by Landlord’s written notice to Tenant. Landlord upon execution of this Lease by Landlord and Tenant, hereby acknowledges payment by Tenant of the sum of Six Thousand Two Hundred Forty Seven and 15/100 DOLLARS ($6.247.15) representing payment of Base Rent for the first full calendar month of this Lease.8 The balance of the total Base Rent is payable in the equal monthly installments set forth as specified above, on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during hereafter, the term hereof. Rent is considered late and Tenant first of which shall be in default if rent is received after 5:00 o’clock p.m. due and payable on the fifth (5th) first of March, 1996. If the Term of this Lease commences on any day of a month excepting the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Leasefirst day, Tenant shall pay Landlord Base Rent as provided for herein for such commencement month on a prorata basis (such proration to Landlord an administrative fee be based on the actual number of $250.00 days in the commencement month) and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than month’s rent paid by Tenant, if any, upon execution of this Lease shall apply and be credited to the last day of the next full month, ’s Base Rent due hereunder. Base Rent for the fraction any partial month of a month at the commencement and occupancy at the end of the Term shall of this Lease will be adjusted pro rata on a per diem basisprorated, and all succeeding installments of Base Rent shall such proration to be paid based on the first (1st) day actual number of each month during days in the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawpartial month.

Appears in 1 contract

Sources: Lease Agreement (First NLC Financial Services Inc)

Base Rent. As of Commencing on August 1st, 2014 (the “Rent Commencement Date”), Tenant covenants and agrees to timely shall pay without noticeLandlord, deduction, off-set or abatement to the Landlord at the Building, office or such other address place as Landlord may notify Tenant of in writing, yearly and every year from time to time designate as “Base Rent” for the Leased Premises during the Term hereofterm of this Lease, the Rent without any deduction or set off, in lawful money of the United States. Base Rent is payable in the equal monthly installments set forth in advance, on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during as follows: BASE RENT, YEAR ONE: $2,200.00 PER MONTH Notwithstanding anything to the term hereof. Rent contrary contained herein, in the event the Commencement Date is considered late and other than the first day of a calendar month, then Tenant shall be pay to Landlord on the Commencement Date a sum equal to the per diem Monthly Rent for the month in default which the Commencement Date shall occur multiplied by the number of days from the Commencement Date to the last day of the First Month, both inclusive, plus the Monthly Rent for the next calendar month (said period of time hereafter referred to as the “First Month”). Such per diem payment and the first Monthly Rent payment shall constitute payment of Monthly Rent from the Commencement Date to the last day of the month next succeeding the First Month, both inclusive. Thereafter, if the monthly rent is received after 5:00 o’clock p.m. on not paid by the fifth (5th) day of the any month. A penalty of fifty dollars ($50.00) per day , then a ten percent late fee will be assessed on any sums due under the lease which are charged for all rents received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for due and payable automatically as additional rent, without the fraction necessity of notice to Tenant of such charge. Tenant acknowledges that a month at the commencement and at the end fee equal to five (5%) of the Term amount of the check shall be adjusted pro rata charged on a per diem basisall returned checks, as an administrative fee, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek payable as “additional relief as provided by lawrent”.

Appears in 1 contract

Sources: Office Lease (Kalahari Greentech Inc.)

Base Rent. a. As of agreed, the Commencement Datefirst five (5) months are rent free. Following the first five (5) rent free months, Tenant covenants and agrees to timely shall pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the annual Base Rent in lawful money of the United States. Base Rent is payable advance, in the twelve (12) equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance $3,399.50 on or before the first (1st) day of each calendar month during the term hereofTerm, without notice, deduction, demand, abatement, counterclaim or set off, at the rates set forth below. Base Rent is considered late and Tenant for any partial month shall be paid in default if rent is received after 5:00 o’clock p.m. advance and prorated based on the fifth (5th) day number of the days in such partial calendar month. A penalty of fifty dollars The first ($50.001st) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid due and payable on or before the first (1st) day execution of each month during this Lease. Base Rent and all other sums of money due from Tenant hereunder shall be collectively referred to hereinafter as “Rent”. b. Checks for all Rent shall be made payable to Landlord and mailed or delivered to the term hereof. Should Tenant be address set forth in default, Section 32 below or such other address as Landlord may collect designate to Tenant in writing. To defray administrative and handling expenses, Tenant agrees to pay an additional charge of Fifty and No/100 Dollars ($50.00 50) for each returned check. If any payment of Rent is not received by Landlord within five (5) days of the due date, then Tenant shall pay Landlord the greater of (i) five percent (5%) of the late Rent: or (ii) Two Hundred Fifty and No/00 Dollars ($250.00). In addition, if any payment of Rent is not received within ten (10) days of when due, such late Rent shall bear interest at the lesser of ten percent (10%) per day penalty annum, compounded monthly, or the maximum rate permitted under law, from the due date of such Rent until such late Rent and all interest accrued thereon is paid in full. Tenant acknowledges that the aforementioned late charge and interest are in addition to Landlord’s other rights and remedies available under this provision Lease, at law or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultin equity, and Tenant must cover said check with certified funds plus that such late charge and interest shall in no way limit Landlord’s other rights and remedies. If Landlord shall at any time accept any such Rent or other sums after the penalty contained herein. Landlord may also seek additional relief same shall become due and payable, such acceptance shall not excuse a delay upon subsequent occasions, or constitute or be construed as provided by lawa waiver of any of Landlord’s rights hereunder, at law or in equity.

Appears in 1 contract

Sources: Lease Agreement (Super Vision International Inc)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set . offset or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. o'clock p.m on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums suits due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on or a per diem basis, and arid all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law.shall

Appears in 1 contract

Sources: Lease Agreement (Ibiz Technology Corp)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay to Landlord the Base Rent set forth in the Basic Lease Information, without noticeprior notice or demand, deduction, off-set or abatement to on the Landlord at the Building, or such other address as Landlord may notify Tenant first day of in writing, yearly each and every year calendar month during the Term hereofTerm, except that Base Rent for the Rent first full calendar month in lawful money of the United States. which Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day upon T▇▇▇▇▇’s execution of each month during the term hereof. this Lease and Base Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a partial month at the commencement and beginning of the Term shall be paid on the Commencement Date. Base Rent for any partial month at the beginning or end of the Term shall be adjusted pro rata prorated based on a per diem basis, and all succeeding installments the actual number of days in the month. If the Basic Lease Information provides for any change in Base Rent shall 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 paid on the first day of a calendar month). Notwithstanding anything in this Lease to the contrary, so long as Tenant is not in default beyond applicable cure periods under this Lease, (a) during the first (1st) day through sixth (6th) full months of each month the initial Term, Tenant shall be entitled to 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 Costs and Taxes, and (b) during the term hereofseventh (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”). Should If Tenant be in default, Landlord may collect $50.00 per day penalty defaults under this provision or 18% interest Lease at any time during the Term and fails to cure such default within any applicable cure period under Paragraph 36this Lease, whichever is greaterthen all Abated Rent shall immediately become due and payable. Any rent check returned for insufficient funds shall constitute an The payment by Tenant of the Abated Rent in the event of defaulta 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 Tenant must cover said check with certified funds plus all other Rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the penalty contained herein. Landlord may also seek additional relief as provided by lawprovisions of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Corsair Gaming, Inc.)

Base Rent. As Tenant shall pay to Landlord the Base Rent set forth in Section 1.14, without offset or deduction commencing on the Rent Commencement Date and thereafter on the first day of each calendar month. So long as (i) this Lease shall be in full force and effect and (ii) there shall exist no Event of Default on the part of Tenant (nor any event or circumstance which, with the passage of time or the giving of notice, or both, would constitute an Event of Default), Landlord will waive payment of Base Rent (but not Additional Rent, utility charges or any other amounts due or payable hereunder) on 4,815 rentable square feet of Premises Area for the period commencing on the Commencement Date and expiring on the 365th day following the Commencement Date (e.g. Tenant shall only be responsible during such period for Base Rent on 15,000 rentable square feet of Premises Area (19,815 r.s.f. - 4,815 r.s.f. = 15,000 r.s.f. x $27.00/r.s.f./annum = $405,000/year or $33,750/month)). If the Commencement Date is not the first day of a calendar month, the partial month will be added to the first full twelve months of the Term, and Base Rent shall commence on the Commencement Date, Tenant covenants Date and agrees to timely pay without notice, deduction, off-set or abatement to shall be payable for the Landlord remainder of the partial month at the Building, or rate set forth in Section 1.14 for such other address as Landlord may notify Tenant of in writing, yearly and every year period. Base Rent for any period during the Term hereof, term hereof which is for less than one month shall be prorated based upon the actual number of days of the calendar month involved. Base Rent and all other amounts payable to Landlord hereunder shall be payable to Landlord in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late , and Tenant shall be responsible for delivering said amounts to Landlord at the address stated herein or to such other person or to such other place in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day continental United States as Landlord may designate in writing. Landlord and Tenant agree that all amounts due from Tenant under or in respect of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the this Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day whether labeled Base Rent, additional rent, additional charges or expires on any day other than the last day of the monthotherwise, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basisconsidered as rental reserved under this Lease for all purposes, including without limitation regulations promulgated pursuant to the Bankruptcy Code, and all succeeding installments of Base Rent shall be paid on the first (1stincluding further without limitation Section 502(b) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawthereof.

Appears in 1 contract

Sources: Lease Agreement (Nitromed Inc)

Base Rent. As of the Commencement Date, Tenant covenants and agrees Subject to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address proration as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant below, and subject to the terms of Paragraph 7 increase as set forth in Article 4.4, 9.2 and Article 11.2 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee as annual base rent for the Premises ("Base Rent") as follows: (a) for the first Lease Year (as hereinafter defined) the sum of ONE MILLION SIX HUNDRED FIFTY-FOUR THOUSAND THREE HUNDRED AND EIGHTY AND NO/100 DOLLARS ($250.00 1,654,380.00), together with all applicable sales and attorneys fees use and other taxes thereon, which shall be due and payable on the Commencement Date; and (b) for the second Lease Year and for each successive Lease Year thereafter during the Term, the sum of ONE MILLION SIX HUNDRED NINETY THREE THOUSAND SEVEN HUNDRED SEVENTY AND NO/100 DOLLARS ($250.00 (total of $500.001,693,770.00) together with any all applicable sales and use and other sums due as an essential part of the cure of default. If the Term hereof commences on any day taxes thereon (other than Landlord's income taxes) which , shall be due and payable in full on the first day or expires on any day other than the last day of the montheach such Lease Year. However, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basisTenant's option, and all succeeding installments so long as Tenant shall not be in default of its obligations under this Lease, Base Rent shall may be paid by Tenant to Landlord in equal monthly installments, in advance, on the first (1st) day of each calendar month during commencing on the term hereoffirst (1st) day of the calendar month immediately following the Commencement Date, it being agreed that Base Rent payable with respect to the period between the Commencement Date and the first day of the following calendar month shall be due at the time that the first payment of Base Rent is due. Should In the event of a default by Tenant be in default, Landlord may collect $50.00 per day penalty of its obligations under this provision or 18% interest under Paragraph 36Lease, whichever is greater. Any rent check returned the full amount of Base Rent for insufficient funds such period, less the aggregate amount of all monthly installments of Base Rent previously paid for such period, shall constitute an event of default, be immediately due and payable by Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawto Landlord.

Appears in 1 contract

Sources: Lease Agreement (CNL Hospitality Properties Inc)

Base Rent. As During the initial Term of this Lease, Tenant hereby agrees to pay to Landlord base annual rental (as specified, the "Base Rent") at the rate of $21.45 per square foot of Rentable Area in the Premises, subject to annual adjustment beginning with the first anniversary of the Commencement Date, in the manner provided in Section 2.4 and subject to any adjustments based on Additional Allowance if granted to Tenant covenants and agrees in accordance with Exhibit B. If Tenant elects to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during extend the Term hereofof this Lease to one hundred eighty (180) months as provided in Section 2.1.3 above, then the initial Base Rent shall be $20.80 per square foot of Rentable Area in lawful money the Premises subject to annual adjustment beginning with the first anniversary of the United States. Commencement Date as provided in Section 2.4 and subject to any adjustments based on Additional Allowance, if granted to Tenant in accordance with Exhibit B. Any overpayment of Base Rent is based upon Tenant's election to so extend shall be refunded by Landlord within sixty (60) days of receipt of Tenant's election notice. The Base Rent, and any Additional Rent then in effect shall be due and payable in the twelve (12) equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereofTerm. Rent is considered late and Tenant shall be Except as elsewhere provided in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the this Lease, Tenant shall agrees to pay Rent to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultmonthly in advance without demand, reduction, abatement, counterclaim or setoff at Landlord's designated address. If the Term hereof commences on any a day other than the first day of a month or expires terminates on any a day other than the last day of the a month, then the Rent for the fraction of a such month at the commencement and at the end of the Term or months shall be adjusted pro rata on a per diem basis, prorated in accordance with the actual number of days in the relevant month and all succeeding the installment or installments of Base Rent so prorated shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawadvance.

Appears in 1 contract

Sources: Lease Agreement (Interstate Johnson Lane Inc)

Base Rent. As (a) During each of the Commencement Datefirst through the fifth lease years, Tenant covenants and agrees shall pay to timely pay without notice, deduction, off-Landlord annual base rent in an amount equal to $217,946.43 plus or minus any interest adjustment as set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United Statesforth herein under Section 5e. Base Rent is Said annual base rent shall be payable in the equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid $18,162.20 in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth calendar month. (5thb) day During each of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under sixth through the tenth lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Leaseyears, Tenant shall pay to Landlord annual base rent in an administrative fee amount equal to $227,733.93 plus or minus any interest adjustment as set forth herein under Section 5e. Said annual base rent shall be payable in equal monthly installments of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences 18,977.83 in advance on any day other than or before the first day or expires on any day other than the last day of each calendar month. (c) During each of the montheleventh through the fifteenth lease years, Rent for the fraction of a month at the commencement and at the end of the Term Tenant shall pay to Landlord annual base rent in an amount equal to $238,989.56 plus or minus any interest adjustment as set forth herein under Section 5e. Said annual base rent shall be adjusted pro rata on a per diem basis, and all succeeding payable in equal monthly installments of Base Rent shall be paid $19,915.80 in advance on or before the first (1st) day of each month calendar month. (d) During each of the sixteenth through the twentieth lease years, Tenant shall pay to Landlord annual base rent in an amount equal to $251,933.53 plus or minus any interest adjustment as set forth herein under Section 5e. Said annual base rent shall be payable in equal monthly installments of $20,994.46 in advance on or before the first day of each calendar month. (e) Notwithstanding anything contained herein to the contrary, in the event that, pursuant to the Mortgage Loan, as hereinafter defined, or any Replacement Mortgage Loan, as hereinafter defined, the interest rate payable by Landlord, as Mortgagor, is increased or decreased during the term hereofof this Lease from the interest rate initially payable under the Mortgage Loan, then, effective with the first monthly installment of annual base rent which is payable after the effective date of any increase or decrease in the rate of interest payable pursuant to the Mortgage Loan, or pursuant to the Replacement Mortgage Loan, as the case may be, the monthly installment of base annual rent which is payable hereunder shall be increased or decreased by an amount equal to the amount by which the amount of interest payable, monthly, on the Mortgage Loan, or on the Replacement Mortgage Loan, as the case may be, exceeds or decreases the amount of interest which would have been payable monthly on the Mortgage Loan if the rate of interest had not been increased or decreased over the rate of interest payable under the Mortgage Loan. Should The term "Mortgage Loan" as used herein, shall be deemed to refer to that original Mortgage Loan, which Landlord, as Mortgagor, shall place against the Leased Premises within ninety (90) days before or after the date upon which the initial term of this Lease commences, in the principal amount of One Million Five Hundred Fifty Thousand and no\100 ($1,550,000.00), which is for a 20 year term and provides for amortization of said mortgage together with interest thereon over a period of twenty (20) years. The original base interest rate is seven and three-fourths percent (7.75%). The note secured by the mortgage requires that the interest rate be recalculated after each five (5) year period at two and one-half (2.5%) percent above the five year average Treasury rate. The term "Replacement Mortgage Loan", as used herein, shall be deemed to refer to any mortgage loan which Landlord, as Mortgagor, places against the Leased Premises during the term of the Mortgage Loan and which is obtained by Landlord in replacement of the Mortgage Loan, provided, however, that for purposes of calculating the amount of increased or decreased interest, if any, which is payable by Tenant as provided above, the putative principal balance of the Replacement Mortgage Loan shall at all times be in defaultcalculated to an amount equal to what the amount of the Mortgage Loan principal balance would have been, Landlord may collect $50.00 per day penalty taking into account amortization of principal as scheduled under this provision the Mortgage Loan, the original principal balance and provided, however, that the Replacement Mortgage Loan does not provide for an interest rate, or 18% for adjustments to the interest under Paragraph 36rate, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultif any, and Tenant must cover said check with certified funds plus the penalty contained hereinwhich are not then commercially reasonable. Landlord may also seek additional relief as provided by law.shall give Tenant written notice of Landlord's intention to obtain a Replacement Mortgage Loan and shall cooperate with Tenant in attempting to obtain a commitment for a Replacement Mortgage Loan upon the most favorable terms and conditions then

Appears in 1 contract

Sources: Lease (Founders Food & Firkins LTD /Mn)

Base Rent. As Tenant shall deposit monthly installments of Base Rent, along with applicable value added tax, directly into the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set Rent Payment Account or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of place designated by Landlord, monthly, in writingadvance, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each calendar month during the term hereofTerm, without notice or demand and without any setoff, abatement or counterclaim. Deposits of rent will be made by Tenant directly into the Rent is considered late Payment Account by, at the election of Tenant, wire transfer or intra- or inter- bank transfer of funds. Landlord agrees to render to Tenant monthly rental invoices which shall comply with all applicable legal and Tenant tax requirements and include a breakdown of the value added tax. Said rental invoices shall be in default if issued on the date rent is received after 5:00 o’clock p.m. on paid and shall contain the fifth (5th) day amount of rent paid in United States Dollars, as well as the corresponding amount in Mexican Pesos, according to the exchange rate published in the Official Journal of the monthFederation (Diario Oficial de la Federación) on such date. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under Landlord acknowledges that Tenant has the lease which are received after the fifth (5th) day of the monthright to pay rent in Mexican Pesos. In the event that Landlord rent is required paid in Mexican Pesos, such will be paid at the rate of exchange in effect for selling Mexican Pesos to post a 3-day notice for non-payment of rent or for any other breach purchase United States Dollars, according to the rate published in the Official Journal of the Lease, Federation (Diario Oficial de la Federación) on the date Tenant shall pay to pays Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultsuch rent. If the Term hereof commences Commencement Date does not occur on any day other than the first day of a calendar month or expires if the Term does not expire or terminate on any day other than the last day of the a calendar month, Rent rent payable hereunder shall be prorated for such partial month on the fraction basis of a month thirty (30) day month. In addition to all other rights and remedies provided to Landlord, all amounts payable hereunder which remain unpaid for five (5) days after their respective due dates shall be subject to an immediate penalty of five percent (5%) of the unpaid amount, and in addition, shall bear interest from the date that the same became due and payable including the date of payment, whether or not demand is made therefor, at the commencement rate of twelve percent (12%) per annum. For purposes of this Lease, the term “rent” will be deemed to include all Base Rent plus CPI Escalations, additional rent, reimbursements, late charges and at the end of the Term shall be adjusted pro rata on a per diem basisinterest, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, other amounts payable to Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawany reason whatsoever hereunder.

Appears in 1 contract

Sources: Lease Agreement (Clarion Technologies Inc/De/)

Base Rent. As of From and after the Rent Commencement Date and continuing until the Expiration Date, Tenant covenants and agrees Subtenant shall pay to timely pay without noticeSublandlord base annual rent (“Base Rent”) in the sum of TWO MILLION SIX HUNDRED THREE THOUSAND SIX HUNDRED AND 00/100 DOLLARS ($2,603,600.00) per annum, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid installments, in advance on or before prior (but not more than thirty (30) days prior) to the first day of each month, in the amount of $216,966.67. (a) If the Commencement Date or Rent Commencement Date, as applicable, shall occur on a date other than the first (1st) day of each any calendar month, the Base Rent payable hereunder for such month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. prorated on a per diem basis and shall be paid on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent Commencement Date or for any other breach of the LeaseRent Commencement Date, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of defaultapplicable. If the Term hereof commences Expiration Date shall occur on any day other than the first day or expires on any day date other than the last day of the a calendar month, Base Rent for the fraction of a such month at the commencement and at the end of the Term shall be adjusted pro rata prorated on a per diem basisbasis based on the number of days in the Term occurring in such month. The Commencement Date shall be the “Rent Commencement Date” under this Sublease; provided, however, that (1) provided no default by Subtenant hereunder has occurred and all succeeding installments is continuing beyond the expiration of any applicable notice and cure periods, Subtenant shall receive an abatement of Base Rent shall be paid for the period commencing on the first Commencement Date and running through the date which is one hundred eighty (1st180) day of each month during days following the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultCommencement Date (the “Contract Abatement Period”, and Tenant must cover said check together with certified funds plus any Delay Abatement Period, the penalty contained herein. Landlord may also seek additional relief “Abatement Period”), and (2) in the event there is a Delay Abatement Period as described in Section 2.2(a) above and provided no default by lawSubtenant hereunder has occurred and is continuing beyond the expiration of any applicable notice and cure periods, Subtenant shall receive an abatement of Base Rent for the period commencing upon the expiration of the Contract Abatement Period and continuing for the number of days in the Delay Abatement Period.

Appears in 1 contract

Sources: Sublease Agreement (Datadog, Inc.)

Base Rent. As of Commencing on the Commencement Date, Tenant covenants and agrees to timely on the first of every month thereafter, the Lessee shall pay without notice, deduction, off-set or abatement to the Landlord at Lessor the BuildingBase Rent (collectively with all Additional Rent, as defined below, and other charges the "Rent"), without set-off or such other address deduction of any kind whatsoever, except as Landlord may notify Tenant of in writingspecifically permitted herein, yearly and every year during prorated for any partial month or year. Other charges payable by the Term hereof, the Rent in lawful money of the United StatesLessee on a monthly basis shall be similarly prorated. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before monthly as follows, with the first (1st) month's Base Rent paid at the Commencement Date. During the period beginning on the Commencement Date and ending on the day of each month during immediately prior to the term hereof. Full Occupancy Date, Base Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. comprised of two components, "Square Footage Base Rent" and "Interest Base Rent." During the period beginning on the fifth Commencement Date and ending on the day immediately prior to the Fully Available Date, Square Footage Base Rent shall be $13,562.00 per month (5th) day of $8.75 per square foot per annum on the Initial Occupancy Space), and Interest Base Rent shall be $11,667.00 per month. A penalty of fifty dollars (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 $50.00) 13,562.00 per day will month, and Interest Base Rent shall be assessed on any sums due under the lease which are received after the fifth (5th) day of the $21,173.00 per month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 Square Footage Base Rent and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of 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 Premises than the Initial Occupancy Space for its business purposes, Square Footage Base Rent shall be increased at the rate of $8.75 per square foot per annum for each additional square foot so occupied, and Interest Base Rent shall be reduced to the amount which results by multiplying the applicable figure above by a fraction, the numerator of which shall be the square feet of the Premises not occupied by the Lessee for its business purposes, and the denominator of which shall be 60,600. From the Full Occupancy Date to the third anniversary of the Full Occupancy Date, or if the Full Occupancy Date is other than the first (1st) day of a month, to the third anniversary of the first day of the month immediately following the 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 Full Occupancy Date to the seventh anniversary of the Full Occupancy Date, or if the Full Occupancy Date is other than the first day of a month, to the seventh anniversary of the first day of the month during immediately following the term hereofFull 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. Should Tenant be From the seventh anniversary of the Full Occupancy Date to the tenth anniversary of the Full Occupancy Date, or if the Full Occupancy Date is other than the first day of a month, to the tenth anniversary of the first day of the month immediately following the Full Occupancy Date: $772,200.00 per annum, payable in defaultequal monthly installments of $64,350.00 in advance, Landlord may collect $50.00 per on the first day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by laweach month.

Appears in 1 contract

Sources: Lease (Abiomed Inc)

Base Rent. As of the Commencement Date(1) Subject to Sections 605(B) and 605(C) below, Tenant covenants and agrees to timely will pay without noticethe Authority, deductionin arrears, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first fifteenth (1st15th) day of each calendar month, base rent (“Base Rent”) with respect to the Leased Premises for the preceding calendar month. Subject to Section 601(A)(3) below, the Base Rent that is assessed by the Authority for a particular calendar month will be calculated solely on basis of the square footage of the Leased Premises that Tenant Occupied during that calendar month. The annual Base Rent rate for the Leased Premises during the term hereofTerm will be Two Dollars and NO/100 ($2.00) per square foot. By way of example only, if Tenant Occupies 100,000 square feet of the Leased Premises during a particular calendar month, Tenant will (subject to Sections 605(B) and (C) below) pay the Authority Base Rent is considered late for that calendar month in the amount of $16,666.67 (i.e., 100,000 square feet x $2.00 per square foot per annum /12 months). (2) As it relates to Occupancy and subsequent de-Occupancy of Leased Premises, if Tenant Occupies a particular portion of the Leased Premises during less than all of a calendar month, Tenant shall be in default if rent is received after 5:00 o’clock p.m. pay a prorated portion of the Base Rent for that calendar month based on the fifth (5th) day number of days Tenant Occupies that portion of the month. A penalty Leased Premises. (3) Notwithstanding anything in this Lease to the contrary, however, and regardless of fifty dollars which ($50.00if any) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day portions of the month. In the event Leased Premises that Landlord is required Tenant elects to post a 3-day notice for non-payment Activate and regardless of rent or for any other breach which (if any) portions of the Leased Premises that Tenant is Occupying or using from time to time, Tenant hereby agrees that commencing on the earlier of (a) December 1, 2004 or (b) the first date that any aircraft of Tenant’s customer(s) is located at the Leased Premises, and continuing thereafter during the Term of this Lease, Tenant shall be obligated to pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of monthly Base Rent shall be paid on the first at least two (1st2) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds Bays plus the penalty contained hereinHangar 4 Office Space (the “Minimum Base Rent”). Landlord may also seek additional relief Minimum Base Rent is subject to increase as provided by lawin Section 401(G) and Section 2105(A)(3) of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Aar Corp)

Base Rent. As of the Commencement Date, Tenant Subtenant covenants and agrees to timely pay Sublandlord Base Rent in advance, without noticedemand, set off or deduction, off-set or abatement to the Landlord at the Buildingexcept as expressly provided for herein, or such other address as Landlord may notify Tenant of in writingequal monthly installments, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each and every calendar month during the term hereof. Sublease Term, monthly base rent (“Base Rent”) as follows: Period Monthly Rate/RSF Monthly Base Rent is considered late and Tenant SCD – 12/30/2022 $ 1.20 $ 20,400.00 Notwithstanding the foregoing Base Rent schedule, Subtenant shall be in default if rent is received after 5:00 o’clock p.m. entitled to an abatement of Base Rent during the period commencing on the fifth Sublease Commencement Date and expiring on May 31, 2021 (5th) day the “Abatement Period”), in the amount of $20,400.00 per month (collectively, the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month“Abatement”). In the event of a monetary default by Subtenant under this Sublease in the form of a failure to pay Base Rent or any other amounts due under this Sublease during the Sublease Term beyond any applicable notice and cure periods, such Abatement shall be amortized on a straight-line basis and any unamortized amounts of the Abatement at the time of default shall become immediately due and payable. Further, should Subtenant be in default beyond any applicable notice and cure periods under this Sublease at the time any installment of the Abatement is otherwise due to be applied, such installment of the Abatement will not be provided until the default has been cured by Subtenant. Other than as set forth in this paragraph, Subtenant shall pay any and all other Base Rent and Additional Rent or any sum of money due of Subtenant under this Sublease during the Abatement Period. Base Rent plus any other charges due from Subtenant under this Sublease are hereinafter collectively referred to as “Rent.” Subtenant hereby acknowledges that Landlord is required to post a 3-day notice for non-if any monthly payment of rent Rent or any monies due hereunder from Subtenant shall not be received by Sublandlord within fifteen (15) days after such payment is due, then Subtenant shall pay the Sublandlord a late charge equal to five percent (5%) of the amount due. In the event Subtenant fails to pay Rent following the expiration of the notice and cure period set forth in Article X of this Sublease, Subtenant shall also be responsible for the payment of interest on such outstanding amount charged at the lesser of (i) the rate of ten percent (10%) per annum, or (ii) the maximum rate permissible by law. Base Rent for any other breach of partial months during the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Sublease Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawprorated.

Appears in 1 contract

Sources: Office Sublease (Project Angel Parent, LLC)

Base Rent. As a component of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the LeaseRent, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the monthLandlord, Base Rent for leasing the fraction of a month at Leased Premises, in the commencement and at the end of the Term shall be adjusted pro rata on a per diem basisamount set forth below, and all succeeding installments without offset or deduction (“Base Rent”). The first payment of Base Rent shall be paid due on the Commencement Date (“Rent Commencement Date”). April 1, 2017 to March 31, 2018 Zero Dollars (0.00) per month. If Tenant terminates this Agreement prior to March 31, 2018, Landlord shall retain the Security Deposit as Base Rent. April 1, 2018 to March 31, 2020 Five Hundred Ninety One Dollars and Fifty Cents ($591.50) per month April 1, 2020 to March 31, 2021 Market value of the Leased Premises as determined by Landlord’s City Manager as of April 1, 2020, but no less than Eight Hundred Eighty-Seven Dollars and Twenty-Five Cents ($887.25) per month April 1, 2021 to March 31, 2022 Market value of the Leased Premises as determined by Landlord’s City Manager as of April 1, 2021, but no less than Eight Hundred Eighty-Seven Dollars and Twenty-Five Cents ($887.25) per month If the Rent Commencement Date is not on the first (1st) day of a calendar month, then Tenant shall pay to Landlord, on or before the Rent Commencement Date, Tenant’s pro rata share of the Base Rent for that partial month pro-rated on the basis of a thirty (30) day month. Subsequent monthly Base Rent payments shall be due and payable on the first day of each month during following the term hereoffirst Base Rent payment. Should Tenant Payment of Base Rent shall be in default, made to Landlord at its address stated herein or to such other persons or place as Landlord may collect $50.00 per day penalty under this provision from time to time designate in writing. 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 and attorney’s fees, second to other outstanding charges or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of defaultcosts, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawany remaining amount to Base Rent.

Appears in 1 contract

Sources: Lease Agreement

Base Rent. As of (a) From and after the Lease Commencement Date, Tenant covenants shall pay the Base Rent as follows: ANNUAL BASE RENTAL RATE PER LEASE YEAR BASE RENT SQUARE FOOT 1 $ 133,920 $ 20.00 2 136,598.40 20.40 3 139,343,76 20.81 4 142,089.12 21.22 5 144,968.40 21.65 6 161,507.52 24.12 7 164,721.60 24.60 8 168,069.60 25.10 9 171,417.60 25.60 10 174,832.56 26.11 4.2 The Base Rent shall be due and agrees payable in equal monthly installments in advance on the first day of each month during each Lease Year. Concurrently with Tenant's execution of this Lease, Tenant shall pay an amount equal to timely one (1) monthly installment of the Base Rent payable during the first Lease Year, which amount shall be credited toward the monthly installment of the Base Rent payable for the first full calendar month of the Lease Term. If the Lease Commencement Date is not the first day of a month, then the Base Rent from the Lease Commencement Date until the first day of the following month shall be prorated on a per diem basis at the rate of one-thirtieth (1/30th) of the monthly installment of the Base Rent payable during the first Lease Year, and Tenant shall pay such prorated installment of the Base Rent on the Lease Commencement Date. 4.3 All sums payable by Tenant under this Lease, whether or not stated to be Base Rent, additional rent or otherwise, shall be paid to Landlord in legal tender of the United States, without noticesetoff, deductiondeduction or demand, off-set or abatement to at the Landlord at the BuildingPayment Address, or to such other party or such other address as Landlord may notify Tenant of designate in writing, yearly and every year during the Term hereof, the Rent in lawful money . Landlord's acceptance of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is rent after it shall have become due and payable shall not excuse a delay upon any subsequent occasion or constitute a waiver of any of Landlord's rights hereunder. If any sum payable by Tenant under this Lease is paid by check which is returned due to insufficient funds, stop payment order, or otherwise, then: (a) such event shall be paid treated as a failure to pay such sum when due; and (b) in advance on or before the first (1st) day addition to all other rights and remedies of each month during the term hereof. Rent is considered late and Tenant Landlord hereunder, Landlord shall be in default if rent is received after 5:00 o’clock p.m. on the fifth entitled (5thi) day to impose a returned check charge of the month. A penalty of fifty dollars Fifty Dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice cover Landlord's administrative expenses and overhead for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basisprocessing, and (ii) to require that all succeeding installments of Base Rent shall future payments be paid on the first (1st) day of each month during the term hereof. Should Tenant be in defaultremitted by wire transfer, Landlord may collect $50.00 per day penalty under this provision money order, or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with cashier's or certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawcheck.

Appears in 1 contract

Sources: Office Lease Agreement (Strayer Education Inc)

Base Rent. As Tenant agrees to pay to Landlord at Landlord’s mailing address identified in Section 1.1, or at such other place as Landlord shall from time to time designate in writing, base rent, as calculated below, in equal monthly installments, and proportionately at such rate for any partial month (“Base Rent”). Payment of Base Rent shall commence on the Rent Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address unless otherwise delayed as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due herein, and shall be paid monthly in advance on or before the first (1st) day of each and every calendar month during the term hereofTerm. Payments of Base Rent is considered received more than five (5) days after the due date may be subject to a late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth payment penalty equal to two percent (5th2%) day of the monthpayment amount for each month the payment is late. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Tenant’s Base Rent for the fraction Leased Premises shall be equal to and fixed at a rate of $26.80 per square foot, based on the net rentable area of the Leased Premises as determined and confirmed by Section 2.1 above, provided, however, in the event the annual interest rate on the Construction Loan exceeds 4.50%, then Base Rent for the Leased Premises shall increase as set forth on Exhibit B up to a month maximum rate of $28.49 per square foot, it being the intent hereof that, for purposes of calculating the fixed rate of Base Rent pursuant to this Section 4.1, said annual interest rate shall be capped at 5.50%. Once determined in accordance with the foregoing, the Base Rent shall remain fixed for the first five (5) lease years hereunder, measured from the Rent Commencement Date. Commencing at the commencement inception of the 6th anniversary of the Rent Commencement Date, and at annually thereafter, the end Base Rent shall escalate for each remaining year of the Term shall at the rate of 1% per annum over the prior year’s Base Rent. Subject at all times to Landlord’s remaining obligations set forth in this Lease and in the Work Letter, including, but not limited to, as set forth in Section 2.3 above, the Leased Premises are anticipated to be adjusted pro completed in stages with the Rent Commencement Date(s) occurring thirty (30) days following Substantial Completion of each stage. The Base Rent coming due at each stage will be a pro-rata on a per diem basis, and all succeeding installments allocation of Base Rent shall be paid on based upon the first (1st) day percentage of completion that each month during such stage represents relative to the term hereofoverall net rentable area of the completed Project, as determined and confirmed by Section 2.1 above. Should Tenant be The allocation for any staged rent due for the Parking Facility is as set forth in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawParking Lease.

Appears in 1 contract

Sources: Lease Agreement (HS Spinco, Inc.)

Base Rent. As Subject to the abatement provisions set forth below and the satisfaction of all of the Commencement Datecontingencies set forth in Paragraph 8 below, Tenant covenants and agrees to timely the Sublessee shall pay without notice, deduction, off-set or abatement to the Landlord at the BuildingSublessor base rent in monthly installments, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is each installment payable in the monthly installments amounts set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid below in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereofof this Sublease, commencing on the Commencement Date (the “Base Rent”). Should Tenant The annual amount of the Base Rent due by the Sublessee to the Sublessor for the first year of this Sublease shall be $554,800.00 payable in defaultequal monthly installments of $46,233.33 payable in advance or before the first (1st) day of each month. Commencing on the first anniversary of the first (1st) day of the month occurring immediately following the Commencement Date and on each anniversary of such date during the term of this Sublease, Landlord may collect $50.00 the Base Rent shall increase by 1.89% per day penalty year in excess of the Base Rent for the immediately preceding year. Base Rent for partial months of this Sublease shall be prorated. All Base Rent and all other amounts due under this provision Sublease shall be paid by the Sublessee in advance without notice, set-off or 18% interest deduction except as expressly provided in this Sublease, in lawful money of the United States to the Sublessor, at ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ 53188-1013 or such other address as the Sublessor may from time to time designate in writing to the Sublessee. The Sublessor hereby irrevocably authorizes the Sublessee, upon receipt of written notice from the Master Landlord that a default has occurred under Paragraph 36the Master Lease, whichever is greater. Any rent check returned for insufficient funds shall constitute an event to make all Base Rent payments and other payments due hereunder directly to the Master Landlord pursuant to the terms of defaultthe Subordination, Non-disturbance, Attornment, Renewal and Option to Purchase Agreement between the Master Landlord and the Sublessee (the “SNDA”), and Tenant must cover said check any such payments made to the Master Landlord in accordance with certified funds plus such notice shall be credited against all Base Rent payments and other payments due under this Sublease; provided however that such payments shall also be applied against and credited to the penalty amounts due by the Sublessor under the Master Lease so long as the Master Lease remains in effect. It is understood and agreed that the Sublessee shall also be responsible for all sales tax or other tax on rentals, if any, due with respect to the rentals due hereunder, which amounts shall be due along with the applicable monthly installments of rent hereunder, if such a tax were ever enacted, provided that such other taxes shall not encompass income, franchise, estate, or other similar taxes. The Sublessor shall forward such taxes as paid by the Sublessee to the applicable taxing authority and upon request by the Sublessee, the Sublessor shall provide evidence of such payment to the Sublessee. Notwithstanding any provision to the contrary contained herein. Landlord may also seek additional relief , the Base Rent shall be abated for, and the Sublessee shall not be obligated to pay the Base Rent due for the seven (7) month period commencing on the date that all of the contingencies set forth in Paragraph 8 below have been satisfied, except for the contingency for the Sublessee to obtain the BEIP Grant, and ending on the date that is seven (7) months immediately following such date; provided however, that such abatement shall not affect the Sublessee’s obligation to pay any other amounts or perform any other obligations under this Sublease; and further provided that if the Sublessee shall default at any time beyond any applicable notice and cure periods under this Sublease and the Sublessor exercises its remedies with respect to such default by terminating this Sublease, terminating the Sublessee’s right to possession, or otherwise, then the rent abatement provided under this paragraph shall not be effective and the Sublessee shall be responsible for payment immediately of all amounts due under this Sublease as provided by lawthough there were no provisions for rent abatement.

Appears in 1 contract

Sources: Sublease (American Bank Note Holographics Inc)

Base Rent. As 4.1 During the Term, Subtenant agrees to pay Sublandlord as base rent (“Base Rent”) for the Sublease Premises commencing on the Commencement Date the amounts set forth below. Months 1 and 2 Abated Months 3-12 $ 21,654.88 Months 13-18 $ 29,983.68 Months 19-Expiration Date $ 31,233.00 4.2 Each monthly installment of Base Rent shall be payable in advance on the first day of each calendar month during the Term, without demand, notice or invoice. If the Term commences or ends on a day other than the first day of a calendar month, then the rent for the month in which this Sublease commences or ends shall be prorated in the proportion that the number of days this Sublease is in effect during such month bears to the total number of days in such month, and such partial month’s installment shall be paid no later than the commencement of the Commencement Datesubject month. In addition to Base Rent, Tenant covenants and Subtenant agrees to timely pay as additional rent the amount of Additional Rent and other charges required to be paid by this Sublease. All rent (which shall include Base Rent, Additional Rent and other charges required to be paid by this Sublease or the Master Lease, including without noticelimitation Operating Costs Share Rent, Tax Share Rent and all other costs, expenses, liabilities and amounts which Sublandlord, as tenant, is required to pay under the Master Lease) shall be paid to Sublandlord without any deduction, off-set offset, counterclaim or abatement to the Landlord at the Building(except as specifically set forth in this Sublease), or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United StatesStates of America, at Sublandlord’s address, or to such other person or at such other place as Sublandlord may from time to time designate in writing. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant Subtenant’s covenant to the terms of Paragraph 7 hereof. Rent is due and pay rent shall be paid independent of every other covenant in advance on this Sublease. 4.3 On the condition that Subtenant does not default under this Sublease beyond any grace or before the first cure period, Rent for months one (1st1) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth two (5th2) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the monthabated, including Operating Costs Share Rent and Tax Share Rent. In the event that Landlord is required of any such default by Subtenant, all such amounts (including a monthly Base Rent of $21,654.88) will become immediately due and payable. 4.4 The sum of $21,654.88 shall be payable by Subtenant to post a Sublandlord upon the mutual execution of this Sublease as the Base Rent for month three (3-day notice ) of the Term and as consideration for non-payment this Sublease. 4.5 If Subtenant fails to pay any installment of rent Base Rent, Additional Rent or for other charges within five (5) days after the same are due, or fails to make any other breach of the Leasepayment for which Subtenant is obligated under this Sublease, Tenant then Subtenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 Sublandlord a late charge equal to five percent (total of $500.005%) together with any other sums due as an essential part of the cure amount so payable. Subtenant acknowledges that late payments will cause Sublandlord to incur costs not contemplated by this Sublease, the exact amount of defaultwhich costs are extremely difficult and impracticable to calculate. If The parties agree that the Term hereof commences on late charge described above represents a fair and reasonable estimate of the extra costs incurred by Sublandlord as a result of such late payment. 4.6 Sublandlord’s failure to prepare and deliver any day other statements or notice provided for in this Sublease, or Sublandlord’s failure to make a demand, shall not in any way cause Sublandlord to forfeit or surrender its rights to collect any items of Rent. Subtenant’s liability for such amounts shall survive expiration of the Term. 4.7 No payment by Subtenant or receipt and acceptance by Sublandlord of a lesser amount than the first day Sublease Base Rent or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Sublease Additional Rent shall be paid deemed to be other than part payment of the full amount then due and payable; nor shall any 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 accept, but is not obligated to accept, such part payment without prejudice to Sublandlord’s right to recover the first (1st) day of each month during the term hereof. Should Tenant be balance due and payable or to pursue any other remedy provided in default, Landlord may collect $50.00 per day penalty under this provision Sublease or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by law. 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.

Appears in 1 contract

Sources: Sublease (Bluearc Corp)

Base Rent. As On the later to occur of (i) the date Tenant 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 first full calendar month of the Commencement DateBase Term, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement 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 Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Leaseforegoing sentence, Tenant shall pay to Landlord an administrative fee in advance, without demand, abatement (except as otherwise expressly provided for in this Lease), deduction or set-off, monthly installments of $250.00 and attorneys fees Base Rent on or before the first day of $250.00 (total of $500.00) together with any other sums due as an essential part each calendar month during the Term hereof, in lawful currency of the cure United States of defaultAmerica, 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”). If All EFT payments made by Tenant pursuant to this Section 3(a) must include a reference to ARE-3535/3565 General Atomics Court, LLC, as well as the Term hereof commences address of the Building (i.e., 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 Commencement Date occurs on any a day other than the first day or expires on any day other than the last day of the a calendar month, then Tenant shall pay to Landlord the prorated Base Rent for such partial month on the fraction Commencement Date and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of a month at the commencement and at the end of the Term this Section 3(a) shall be adjusted pro rata on a per diem basis, and all succeeding installments applied to the first full calendar month following the Commencement Date. The obligation of Tenant to pay Base Rent shall be paid on and other sums to Landlord and the first (1st) day obligations of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, reduce, or 18% interest under Paragraph 36, whichever is greater. Any rent check returned set-off any Rent (as defined in Section 5) due hereunder except for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord any abatement as may also seek additional relief as be expressly provided by lawin this Lease.

Appears in 1 contract

Sources: Lease Agreement (Contineum Therapeutics, Inc.)

Base Rent. As of the Commencement DateA. Except as otherwise provided herein, Tenant covenants and agrees to timely shall pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. initial Base Rent is payable to Landlord the Annual Base Rent as set forth in the Lease Schedule in equal monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due and shall be paid in advance on or before the first (1st) day of the first full calendar month and on the first day of each calendar month thereafter during the term hereof. Term, and at the same rate for fractions of a month if the Term shall begin on any day except the first day or shall end on any day except the last day of a calendar month. B. Any rent (whether Base Rent is considered or Additional Rent) or other amount due from Tenant to Landlord under this Lease not paid when due shall incur a late and fee equal to four percent (4%) of the amount not paid when due, but the payment of such late fee shall not excuse or cure any default by Tenant under this Lease, provided, however, that no late fee shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day imposed with respect to any portion of the month. A penalty Base Rent or Additional Rent that (i) is paid within five (5) business days after Tenant’s receipt of fifty dollars a written notice from Landlord, ($50.00ii) per day will the first late payment in any twelve (12) month period if the amount due is paid within five (5) business days after Tenant’s receipt of a written notice from Landlord, and (iii) no late charges on amounts other than Base Rent or Additional Rent shall be assessed on any sums due under the lease which are received imposed unless Tenant fails to make payment for those charges after the fifth (5th) day following the date Landlord has delivered written notice of that delinquency to Tenant. Tenant acknowledges that such late charge represents a fair and reasonable estimate of the monthcosts Landlord will incur by reason of late payments by Tenant. In the event that The acceptance by Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement late charge and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments payment of Base Rent and Additional Rent due shall constitute a waiver of Tenant’s default with respect to such overdue amount, and shall prevent Landlord from exercising any of the other rights and remedies available to Landlord. 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. Except as otherwise expressly provided herein, Base Rent and all of the rent provided herein shall be paid without demand, offset, deduction or abatement in lawful money of the United States of America to Alter Asset Management, L.L.C., 198▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇ as designated from time to time by written notice from Landlord. The Management Agent has full and complete authority to act on behalf of Landlord in connection with all dealings with Tenant, provided however, that the first (1st) day Management Agent shall not have the power to amend or modify the terms of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawLease.

Appears in 1 contract

Sources: Office Sublease (Medicis Pharmaceutical Corp)

Base Rent. As of the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. The Annual Base Rent is payable in the monthly installments set forth on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms of Paragraph 7 hereof. Rent is due shall be FORTY SEVEN THOUSAND ONE HUNDRED TWENTY SIX AND 16/100 ($47,126.16) DOLLARS and shall be paid by TENANT to LANDLORD at its principal office or that of its agent or at any other place hereafter designated in advance writing by LANDLORD, in equal monthly installments of THREE THOUSAND NINE HUNDRED TWENTY SEVEN and 18/100 ($3,927.18) DOLLARS, on or before the first (1st) day of each month during the term hereof. Rent is considered late and Tenant shall be in default if rent is received after 5:00 o’clock p.m. on the fifth (5th) day of the The first month. A penalty of fifty dollars ($50.00) per day will be assessed on any sums due under the lease which are received after the fifth (5th) day of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of 's Base Rent shall be paid on simultaneously with execution of this Lease, receipt of which is hereby acknowledged by LANDLORD. On the Commencement Date, TENANT shall pay a pro rata amount of rent, if any, for the period from the Commencement Date to the first (1st) day of each month the next calendar month. TENANT shall promptly pay any and all Rent due hereunder at the times and at the address for LANDLORD stated above. TENANT shall promptly pay charges for work performed on order of TENANT and any other charges that accrue under this Lease. If any part of the Rent or other charges shall remain due and unpaid for five (5) days after the same become due and payable, LANDLORD shall have the option (in addition to all other rights and remedies available to it by law and in equity) of assessing against TENANT a "late charge" equal to five (5) cents for every dollar of Rent which is past due, which late charge assessment shall be deemed to be Additional Rent. The term Annual Base Rent may hereinafter by referred to as "Base Rent", "Annual Base Rent", or "Rent". LANDLORD shall have the option to assess a charge against TENANT, if any of TENANT's payment checks shall be returned to LANDLORD marked "NSF" for insufficient funds, in the amount of $25.00. Additionally, if at any time during the term hereofTerm of this Lease, including any extensions or option terms, LANDLORD shall receive any two payment checks from TENANT returned to LANDLORD marked "NSF" then LANDLORD may demand that TENANT make the balance of its rental payments by cashier's check. Should Tenant TENANT may be instructed by LANDLORD to make rental payments to a "lock box", at Southeast Bank or such other institution as LANDLORD may designate. Due to the nature of the handling of such payments, those which LANDLORD would normally not accept under the below circumstances may be deposited in defaultLANDLORD's account anyway. Therefore, Landlord in the event that the payment made by TENANT is in an amount which is less than what is due or, in the event that TENANT has received a statutory notice and failed to comply with its demands and/or litigation is pending concerning TENANT's nonpayment of rent or as a result of other defaults by TENANT under the Lease, then, notwithstanding the fact that the rental payment received may collect $50.00 per day penalty under be deposited in LANDLORD's "lockbox" at Southeast Bank or such other institution utilized for this provision or 18% interest under Paragraph 36purpose by LANDLORD, whichever same SHALL NOT BE DEEMED ACCEPTED unless and until the default which is greater. Any rent check returned for insufficient funds shall constitute an event the subject of default, the above actions is cured to the satisfaction of the LANDLORD and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by under the Lease and Florida law. Such DEPOSITED BUT UNACCEPTED RENTAL PAYMENT(S) will be refunded to TENANT on a LANDLORD issued check within a reasonable time after such deposit is made. Such deposit of TENANT's check, under the above circumstances, shall in no way prejudice LANDLORD's rights under Florida law and/or the Lease.

Appears in 1 contract

Sources: Lease Agreement (Kos Pharmaceuticals Inc)

Base Rent. As A. Tenant shall pay to Landlord, as rent for the Primary Lease Term, the annual sum of $36,000 U.S. Dollars (the "Base Rent") which sum shall be payable in equal monthly installments of $3,000 commencing on the Commencement Date, Tenant covenants and agrees to timely pay without notice, deduction, off-set or abatement to the Landlord at the Building, or such other address as Landlord may notify Tenant of in writing, yearly and every year during the Term hereof, the Rent in lawful money of the United States. Base Rent is payable in the monthly installments set forth continuing thereafter on the Lease Agreement Facing Page attached hereto; Additional Rent is payable pursuant to the terms first day of Paragraph 7 hereofeach succeeding calendar month. Rent is All Base Rent, additional rent or other rentals or sums due and hereunder shall be paid in advance without notice, abatement, deduction or offset at the office of Landlord or to such other person or at such other place as Landlord may designate in writing. The installments of the Rent (defined below) for the first and last months of the term hereof shall be prorated based upon the number of days during each of said months that the Primary Lease Term is in effect. B. As of the beginning of each Lease Year, defined below, the Base Rent due hereunder shall be adjusted by the percentage increase in the U.S. Department of Labor Consumer Price Index (commonly referred to as the Cost of Living Index) for All Items, All Urban Consumers, Denver-Boulder published for the most current month. The Base Rent then being paid shall be increased by an amount equal to the amount arrived at by multiplying the percentage increase in the Cost of Living Index for the preceding Lease Year times the then payable monthly rental. The increased monthly rental as so determined shall commence as of the first day of the month immediately following the end of the current Lease Year and shall continue until readjusted as herein provided. Landlord shall endeavor to give to Tenant a statement of the increase on or before the first (1st) day beginning of each month during Lease Year, but failure by Landlord to do so shall not constitute a waiver by Landlord of its right to increase the term hereofBase Rent. Rent If the Cost of Living Index is considered late discontinued, Landlord and Tenant shall be in default if rent is received after 5:00 o’clock p.m. agree upon comparable statistics on the fifth cost of living for the computations under this subparagraph (5th) day 2), and such statistics shall be published by an agency of the monthUnited States Government or by a responsible financial periodical or recognized authority. A penalty If Landlord and Tenant fail to agree on a replacement index, they will submit the question of fifty dollars ($50.00) per day will be assessed on any sums due under a replacement index to an arbitrator in accordance with the lease which are received after the fifth (5th) day rules and regulations of the month. In the event that Landlord is required to post a 3-day notice for non-payment of rent or for any other breach of the Lease, Tenant shall pay to Landlord an administrative fee of $250.00 and attorneys fees of $250.00 (total of $500.00) together with any other sums due as an essential part of the cure of default. If the Term hereof commences on any day other than the first day or expires on any day other than the last day of the month, Rent for the fraction of a month at the commencement and at the end of the Term shall be adjusted pro rata on a per diem basis, and all succeeding installments of Base Rent shall be paid on the first (1st) day of each month during the term hereof. Should Tenant be in default, Landlord may collect $50.00 per day penalty under this provision or 18% interest under Paragraph 36, whichever is greater. Any rent check returned for insufficient funds shall constitute an event of default, and Tenant must cover said check with certified funds plus the penalty contained herein. Landlord may also seek additional relief as provided by lawAmerican Arbitration Association.

Appears in 1 contract

Sources: Office Lease Agreement (Pentastar Communications Inc)