Common use of Base Rent Clause in Contracts

Base Rent. Tenant agrees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 2 contracts

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

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Base Rent. Tenant agrees to Subtenant shall pay monthly as base rent during Base Rent for the term of this Lease Expansion Premises commencing on April 1, 2021 (the sum of money “Expansion Rent Commencement Date”) in the amounts set forth on Exhibit A hereto and in the manner described in Section 1.6 3(a)(ii) of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the term of this LeaseSublease; provided, if the Commencement Date should be a date other than however, Subtenant shall deliver the first day month’s payment of a calendar monthBase Rent with respect to the Expansion Premises to Sublandlord concurrently with its execution of this Amendment. Subtenant shall continue to pay Base Rent for the Existing Premises in the amounts and in the manner described in Section 3(a) of the Sublease through March 31, 2021. On and after April 1, 2021, Subtenant shall pay Base Rent for the monthly rental Existing Premises in the amounts set forth above shall be prorated to on Exhibit A hereto and in the end manner described in Section 3(a)(ii) of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this LeaseSublease. Notwithstanding anything in this Lease to the contrarycontrary herein, if Landlorda shelter-in-place order (an “Order”) issued by a federal, for any reason whatsoever (other than Tenant's default), cannot deliver possession of California state or local governmental agency with jurisdiction over the Expansion Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: prohibits Subtenant from either (i) September 1, 1995, occupying the Expansion Premises or (ii) performing improvements and/or installing furniture, fixtures and equipment in the date one hundred twenty Expansion Premises and Subtenant does not actually occupy the Expansion Premises such that it delays Subtenant’s initial occupancy (120) days after Landlord secures a building permit from “Delay Event”), then the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date Expansion Rent Commencement Date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 delayed one day for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking Subtenant’s occupancy of the PremisesExpansion Premises is delayed beyond April 1, 2021 as a result of such Delay Event. In Notwithstanding the foregoing, in no event Landlordshall the Expansion Rent Commencement Date be delayed beyond May 31, despite due diligence2021. For the avoidance of doubt, as used herein “occupying” means all personnel who can perform their job at home are permitted to return to their places of employment in office buildings. As of the date hereof, the Order issued by the County of Santa Xxxxx Public Health Department dated October 5, 2020 which requires that all businesses require that “all personnel carry out their job functions remotely if they are able to so”, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to considered an Order which prohibits occupying the other, given on or before May 25, 1995Expansion Premises.

Appears in 2 contracts

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

Base Rent. During the Lease Term (as it may be extended pursuant to Article III hereof), Tenant agrees shall pay to pay monthly Landlord as base rent during for the term of this Lease Premises the sum of money set forth Base Rent described in Section 1.6 of this Lease1.05, which amount shall be payable to Landlord at the address shown abovewithout notice, demand, abatement, deduction or offset for any reason. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding If the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date is other than the first day of a calendar month, Base Rent for the monthly rental set forth above first month of the Term shall be prorated in the proportion that the number of days this Lease is in effect during such partial month bears to the end total number of that calendar days in such month, and all succeeding installments . Base Rent due for the last month of rent the Term shall be similarly prorated if the Expiration Date does not fall on the last day of the month. Base Rent shall accrue on a monthly basis, but shall not be payable by Tenant until (i) Tenant's purchase of the Premises pursuant to the Purchase Option described in Article XXII, (ii) a Tenant default beyond applicable notice and cure periods under Article XV hereof, or, if Tenant exercises the Purchase Option, under the Purchase Agreement attached hereto as Exhibit E, or (iii) the Lease otherwise terminates or expires without Tenant having exercised the Purchase Option. Upon any default beyond applicable notice and cure periods, all accrued Base Rent shall be immediately due and payable and thereafter, any Base Rent coming due shall be immediately payable notwithstanding the delayed payment contemplated by this Section 4.01. Upon Tenant's exercise of the Purchase Option, all Base Rent accrued and owing through the date of Tenant's exercise of the Purchase Option shall be deemed earned and shall become due and payable, but Tenant may pay such accrued Base Rent, together with any additional base rent which accrues thereafter, at the Closing, in accordance with the terms of the Purchase Agreement. Thereafter, Tenant shall pay Base Rent in advance on or before the first day of each succeeding calendar month during the term Term hereof (as extended) until the sooner of the closing under the Purchase Agreement or expiration of the Term and Tenant's surrender of the Premises in accordance with the requirements of this Lease. Tenant shall pay, as additional rent, all Base Rent and other sums due under this Lease. Notwithstanding anything in this Lease payments pursuant to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor credited to the purchase price under the Purchase Agreement. Tenant shall Landlord be liable for any loss or damage resulting therefrom, nor shall pay holdover rent in accordance with Section 21.03 hereof if Tenant does not acquire the Premises pursuant to the Purchase Agreement and holds over beyond the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if Term of this Lease or does not surrender the Premises are not substantially complete and ready for Tenant's occupancy in the condition required by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy this Lease on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion expiration of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Term.

Appears in 2 contracts

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

Base Rent. Tenant agrees to During the entire Term, Sublessee shall pay Sublessor, as rent for each part of the Subleased Premises, the following annual sums ("BASE RENT"), in equal monthly as base rent during the term of this Lease the sum of money set forth installments, in Section 1.6 of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable advance on or before the first day of each calendar month succeeding month, without setoff or deduction whatsoever (except to the extent otherwise specifically set forth herein): LAB SPACE AND OFFICE SPACE: Annual Base Rent Rate Per Rentable Period Annual Base Rent Monthly Base Rent Square Foot -------------------------- ---------------- ----------------- ----------------- From the Commencement Date during $ 660,828.00 $ 55,069.00 $ 28.00 through and including February 28, 2007 From March 1, 2007 through $ 759,952.20 $ 63,329.35 $ 32.20 and including the term of this Lease; provided, if Expiration Date UNFINISHED SPACE: Annual Base Rent Rate Per Rentable Period Annual Base Rent Monthly Base Rent Square Foot -------------------------- ---------------- ----------------- ----------------- From the Commencement Date should $ 141,185.00 $ 11,765.42 $ 17.00 through and including February 28, 2007 From March 1, 2007 through $ 153,642.50 $ 12,803.54 $ 18.50 and including the Expiration Date Notwithstanding the foregoing, Sublessor hereby grants Sublessee an abatement of the Base Rent only (such abatement specifically excluding any additional rent) for (i) the Lab Space and Office Space for the period commencing on the Commencement Date and expiring on the date which is sixty (60) days next following the Commencement Date and (ii) the Unfinished Space for the period commencing on the Commencement Date and expiring on the date which is one hundred and eighty (180) days next following the Commencement Date (the "ABATEMENT PERIODS"), provided that no Event of Default has occurred and the Sublease remains in full force and effect. In the event Sublessee shall default with respect to any of its obligations under this Sublease at any time during the Term of this Sublease, in addition to all of Sublessor's right and remedies under This Sublease, Sublessor shall be entitled to full payment of Base Rent for the Abatement Periods. It the Commencement Date occurs on a date other than day which is not the first day of a calendar month, or if the monthly rental set forth above shall be prorated to Expiration Date occurs on a day which is not the end last day of that a calendar month, and all succeeding installments of rent then the Base Rent payable under this Sublease for such month shall be payable on or before appropriately adjusted so that Sublessee pays Base Rent only for the first day portion of each succeeding such calendar month during occurring within the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Term.

Appears in 2 contracts

Samples: Sublease Agreement (Amicus Therapeutics Inc), Sublease Agreement (Amicus Therapeutics Inc)

Base Rent. Commencing on the Base Rent Commencement Date and, except as otherwise expressly provided herein in Section 8.01(a), continuing thereafter for the Term of the Lease, Tenant agrees shall pay to pay monthly 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 Initial Rent Period) [***] [***] 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 Term and Extension Options The annual Base Rent for the 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 this Lease the sum Approved Master Plan, the parties shall calculate the annual Base Rent [***]. An example of money set forth in Section 1.6 the calculation for determining the annual Base Rent based on the foregoing chart [***] is attached hereto as Exhibit D. At the end of this LeaseRent Year 6, which amount (i.e., prior to the beginning of Rent Year 7) and at the end of each Rent Year thereafter, the annual Base Rent for the next succeeding Rent Year shall be payable 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 Landlord at that most recent CONFIDENTIAL TREATMENT HAS BEEN REQUESTED BY MGM RESORTS INTERNATIONAL. THIS REDACTED VERSION OMITS CONFIDENTIAL INFORMATION, DENOTED BY ASTERISKS: [***]. A REFERENCE COPY, INCLUDING THE TEXT OMITTED FROM THIS REDACTED VERSION, HAS BEEN DELIVERED TO THE SECURITIES AND EXCHANGE COMMISSION. Index, provided, however, that such adjusted annual Base Rent shall not in any event be less than the address shown aboveannual Base Rent in effect on the day before the commencement of such next succeeding Rent Year. One monthly installment If, in any year, the Index is not yet available for the Base Month, the adjusted annual Base Rent shall be due calculated using the Index of the most recent month available and payable 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 or before the first day of each calendar and every month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than except that the first day installment shall be made on the Base Rent Commencement Date. Payments of a calendar month, the monthly rental set forth above Base Rent shall be prorated to as appropriate for a partial month at the beginning of and the end of that calendar monththe Term. For any month in which the annual Base Rent changes based on the chart above, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications pay Base Rent for the Premises by April 12, 1995, in which case prior Rent Year ending during such date shall be extended by month prorated based on the number of days equal to the delays caused by Tenant), Landlord of such prior Rent Year occurring in such month and shall pay to Tenant, as a credit against Base Rent for the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy current Rent Year starting in such month based on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, of such current Rent Year occurring in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995such month.

Appears in 1 contract

Samples: MGM Resorts International

Base Rent. Subject to any Tenant agrees Delay (which would result in Tenant paying Rent attributable to pay monthly the number of days of Tenant Delay, as base rent during set forth below, offset day for day by the term number of this Lease days of delay caused by Landlord), Tenant Allowance (as defined in the sum of money Work Letter) credits or other provisions set forth in Section 1.6 this Lease, commencing on the Phase One Rent Commencement Date, and Phase Two Rent Commencement Dates, respectively, and throughout the Term of this Lease, which Tenant shall pay base rental for the Premises to Landlord as defined in the Schedule above in equal monthly installments, ( the “Base Rent”) (Base Rent and Additional Rent, as defined below, are hereinafter collectively referred to as “Rent”). Notwithstanding the foregoing, if Landlord is unable to deliver possession of the Phase One Premises to Tenant on or before January 1, 2004 due to a Tenant Delay, then in addition to the Phase One Rent Commencement Date obligations, Tenant shall pay Landlord on the Phase One Rent Commencement Date, Base Rent only in the amount attributable to the number of days in the Tenant Delay as Landlord’s sole remedy therefor. Landlord shall deliver possession of the Phase One Premises to Tenant upon substantial completion of the improvements thereto. If Landlord substantially completes the Phase One Premises prior to January 1, 2004, and/or the Phase Two Premises prior to December 1, 2004, and Tenant or its approved subtenant occupies either of such Premises, Tenant’s or its approved subtenant’s early occupancy of the Phase One Premises and Phase Two Premises shall be payable upon all of the terms and conditions of this Lease except, as to the applicable space, Tenant shall pay no Base Rent or Additional Rent with respect to such early occupancy period, but Tenant shall be liable for the cost of utilities consumed by Tenant in the Phase One Premises and/or Phase Two Premises prior to January 1, 2004 and December 1, 2004, respectively. Should the Phase Two Rent Commencement Date be delayed beyond December 1, 2004 as the result of a Tenant Delay, then in addition to the Phase Two Rent Commencement Date obligations, Tenant shall pay Landlord at on the address shown abovePhase Two Rent Commencement Date, Base Rent only in the amount attributable to the number of days in the Tenant Delay for the Phase Two Premises as Landlord’s sole remedy therefor. One Unless otherwise set forth in this Lease, each monthly installment of Rent shall be due and payable promptly on or before the first day of each calendar month succeeding the Commencement Date month, in advance, during the term Term of this Lease. Tenant shall pay to Landlord all Base Rent, Additional Rent, and all other charges due and owing by Tenant under this Lease without, counterclaim, deduction, prior demand, or set off, in legal tender; provided, if that the foregoing is not intended to waive Tenant’s rights against Landlord at law or in equity in the event of a breach by Landlord hereunder beyond applicable notice and cure periods. In the event that the Phase One Rent Commencement Date should be or Phase Two Commencement Date shall commence on a date other than the first day of a calendar the month, the monthly rental set forth above Rent for such month shall be prorated and such prorated amount (which shall be equal to the monthly Base Rent stated above and Additional Rent multiplied by a fraction, the numerator of which shall be the number of days from the Phase One Rent Commencement Date or the Phase Two Rent Commencement Date, as applicable, through the end of that calendar such month, inclusive of both days, and all succeeding installments the denominator of rent which shall be the number of days in such month) shall be due and payable on the Phase One Rent Commencement Date and (unless otherwise provided in this Lease) Phase Two Rent Commencement Date, respectively. All payments of Rent or any other sum due under this Lease shall be made payable to “Xxxxxx New Manchester Building One, L.L.C.” and shall be delivered by Tenant to Landlord, on or before the first day due date, as follows: c/o Carter & Associates 0000 Xxxxxxxxx Xxxxxx, X.X. Xxxxxxx, Xxxxxxx 00000 or at such other place as Landlord may designate from time to time in writing to Tenant. Tenant shall be entitled to rely on any instructions from Landlord’s lenders to make payment of Rent to such lenders, in lieu of Landlord, without Tenant incurring any liability to Landlord therefor and in such event, shall satisfy Tenant’s corresponding Rent obligations to Landlord in such paid amounts. In the event Tenant shall fail to pay a monthly installment of Rent within five (5) days of the due date, a late charge of one percent (1%) of the amount due shall be paid to Landlord for each succeeding calendar month during such late payment and the term same shall be treated as Additional Rent. In addition, in the event that any check from Tenant for payment due under this Lease is returned by a bank for any reason, Tenant shall pay to Landlord a returned check charge of One Hundred Dollars ($100.00) together with such other fee charged by the bank returning the check. Should Tenant present a check to Landlord that is returned from Tenant’s bank for any reason, Landlord reserves the right to demand that all future rental payments be made in the form of cashiers’ checks. Tenant also agrees to pay Landlord interest at a rate of ten percent (10%) per annum (or, in any event hereunder, the maximum rate permitted by Applicable Law, whichever is less) on all Rent or other sums due hereunder that are not paid when such amounts are due and payable. All late charges, any returned check charges and any interest shall become Additional Rent and shall be due and payable immediately along with such other Rent or other sums due hereunder then in arrears. Nothing contained herein shall require Landlord to accept any tender of payment from Tenant for less than the full amount then due under this Lease, including any and all interest and attorneys’ fees that may then be due from Tenant in accordance with the express terms of this Lease. Landlord may elect to accept less than the full amount then due from Tenant hereunder; however, no payment by Tenant or receipt by Landlord of such lesser amount shall paybe deemed to be other than payment on account, as additional rentand no restrictive endorsement or statement on any check or payment shall be deemed to alter the express provisions of this Lease, all nor constitute an accord and satisfaction. Landlord may accept less than the full amount then due from Tenant without prejudice to Landlord’s right to recover the balance of the full amount then due, or to pursue any other sums due remedies then available to Landlord under this LeaseLease or Applicable Law. Notwithstanding anything in this Lease In all events, including but not limited to Landlord’s acceptance of a partial payment from Tenant, any payment accepted by Landlord from Tenant may be applied first to retire the contraryoldest receivables due from Tenant hereunder, then to any current rental or other payment then due hereunder, and the balance, if Landlordany, for any reason whatsoever (other than will be returned promptly to Tenant's default), cannot deliver possession of the Premises . Any payments or charges due from Tenant to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, Landlord under this Lease shall not be void or voidable, nor shall Landlord be liable considered Rent for any loss or damage resulting therefrom, nor shall the expiration all purposes of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Lease.

Appears in 1 contract

Samples: Industrial Lease (Wells Real Estate Investment Trust Ii Inc)

Base Rent. Tenant agrees to pay monthly as base rent during to Landlord without notice an annual “Base Rent”. The Base Rent will be payable at the term annual rate shown in the Basic Leasing Information of this Lease without any offset, defense or deduction whatsoever, in lawful (legal tender for public or private debts) money of the sum United States of money America, at Landlord’s address or elsewhere as designated from time to time by Landlord’s written notice to Tenant. The Base Rent will be adjusted for increases as set forth within the Basic Leasing Information of this Lease. Landlord, upon execution of this Lease by Landlord and Tenant, hereby acknowledges payment by Tenant of the “Initial Payment” as shown in Section 1.6 the Basic Leasing Information of this Lease, representing payment of the monthly installment(s) of annual Base Rent and Additional Rent (as hereafter defined), together with the sales tax thereon. The total Base Rent is payable in monthly installments on the first day of each calendar month. If the Term commences on any day of a month other than the first day, Tenant shall pay Landlord the full monthly Base Rent as provided for herein for such commencement month, and thereafter the sum which amount should have actually been paid for said first month shall be payable calculated on a pro rata basis (such proration to be based on the actual number of days in the commencement month), and the difference shall be credited as a reduction in the next month’s installment of annual Base Rent to be paid by Tenant hereunder on the first day of the next succeeding month. Base Rent for any partial month of occupancy at the end of the Term of this Lease will be prorated, such proration to be based on the actual number of days in the partial month. In addition to Base Rent, Tenant shall and hereby agrees to pay to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding a sum equal to any sales tax, tax on rentals, and any other governmental charges, taxes and/or impositions now in existence or hereafter imposed based upon the Commencement Date during privilege of renting the term Leased Premises or upon the amount of this Lease; providedRent (as defined below) collected therefor, without any offset defense or deduction whatsoever, in lawful (legal tender for public or private debts) money of the United States of America, at Landlord’s address or elsewhere as designated from time to time by Landlord’s written notice to Tenant. In addition, Tenant agrees to be fully responsible for the payment of documentary stamps, if the Commencement Date should be a date other than the first day of a calendar monthany, the monthly rental set forth above shall be prorated due pursuant to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Nothing herein shall, however, be taken to require Tenant to pay any part of any Federal and State Taxes on income imposed upon Landlord. Tenant shall paybe required to pay Landlord interest on any Rent (as defined below) due that remains unpaid for five (5) days after its due date. Further, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: event (i) September 1, 1995Tenant fails to pay Rent by the fifth (5th) day of the month in which such installment is due, or (ii) any other sums owed to Landlord pursuant to the date one hundred twenty terms of this Lease within five (1205) days after accrual thereof or billing therefor, there will be added to such unpaid sum a late charge equal to ten percent (10%) of the installment or sum due, in order to defray the costs to Landlord secures for additional administrative expenses incurred as a building permit result of such late payments. For all purposes of this Lease, the term “Rent” shall include all Base Rent, charges or impositions thereon, Additional Rent (as defined below), adjustments to Rent and any and all other payments due or which may become due from Tenant to Land-lord hereunder. Interest will be computed at the maximum legal rate and will be deemed to accrue from the City fifth (5th) day after Rent is due and shall continue to accrue for as long as the sum remains unpaid. Provided, however, this provision shall not be construed as requiring Landlord to accept any late payment of Arden HillsRent or as a waiver of any of Landlord’s rights or remedies by virtue of Tenant’s not making timely payment of Rent hereunder, which and Land-lord’s acceptance of late Rent and such interest shall not be construed as constituting a waiver by Landlord of any rights or remedies available to it in the event that Rent is not timely paid by Tenant on any one or more future occasions, including declaring Tenant in default under this Lease and pursuing all remedies available to it arising from such default. The Base Rent as specified in the Basic Leasing Information of this Lease will increase annually on each yearly anniversary of the Lease Term as stated therein. Tenant by acceptance and execution of this Lease shall be deemed to have agreed to and received notice of the Annual Base Rent for each year of the Lease Term. Landlord shall diligently pursue, (except by reason not be required to provide notice of force majeure or the new Base Rent; and Tenant caused delays, including failure to approve plans and specifications for must pay Landlord the Premises by April 12, 1995current monthly payment of Base Rent, in which case such date shall be extended by accordance with the number of days equal to schedule set forth in the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Basic Leasing Information.

Appears in 1 contract

Samples: Lease Agreement (Omnicomm Systems Inc)

Base Rent. Tenant agrees to pay monthly as base rent during for the term of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount Property shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable increased on or before the first day of each calendar month succeeding Extension Period to an amount equal to the Commencement Date during "fair market rental value" of the term Property as of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar monththe applicable Extension Period (which fair market rental value determination may include increases in rent during the Extension Period), which fair market rental value shall be determined by Landlord in its reasonable discretion, after evaluating, among other things, the monthly rents at similar projects in the same general geographic area, but in no event shall the Base Rent be less than the then current Base Rent being paid by Tenant. Landlord shall notify Tenant in writing of such determination of fair market rental value within thirty (30) days after Xxxxxxxx's receipt of Tenant's notice exercising the applicable Option. If Tenant shall dispute Landlord's determination of fair market rental value for the Property, then Landlord and Tenant shall negotiate in good faith to arrive at a mutually agreeable Base Rent within thirty (30) days after Xxxxxx's receipt of Landlord's statement. If the parties cannot agree within such thirty (30) day period, then Tenant may elect to either: (i) accept in writing the fair market rent, as set forth above in Landlord's statement; or (ii) give written notice ("Appraisal Notice") to Landlord that Tenant desires to have the fair market rent determined by appraisal pursuant to the procedures set forth herein. If Tenant does not deliver an Appraisal Notice to Landlord within thirty (30) days after Landlord's delivery of Landlords statement to Tenant, Tenant shall be prorated deemed to have accepted Landlord's statement of the fair market rent. Within fifteen (15) days after Xxxxxxxx's receipt of the Appraisal Notice in accordance with this Section, Landlord and Tenant shall agree upon a list of five (5) independent, unaffiliated real estate brokers with at least five (5) years' full-time experience brokering commercial properties within ten (10) miles of the Project. Within five: (5) days after agreement upon the list of brokers, Landlord and Tenant shall meet and each shall have the right to disqualify two (2) of the brokers by alternating their respective rights of disqualification until only one (1) broker ("Broker") has not been disqualified by either Landlord or Xxxxxx. Within thirty (30) days after the appointment of the Broker, the parties shall each submit their determination of the fair market rent to the end of that calendar month, Broker and all succeeding installments of the Broker shall independently determine the fair market rent. The fair market rent shall equal the fair market rent submitted by Landlord or Tenant that is closest to the fair market rent determined by the Broker. The Broker shall not divulge to Landlord or Tenant the fair market rent determined by the Broker until both parties instruct it to do so in writing. If the parties fail to select the five (5) qualified brokers or the Broker, a Broker shall be payable selected by the (then-Presiding Judge of the Superior Court of the State of California of the County in which the Property is located, acting in his individual judicial capacity. Each party shall pay one-half of the Broker's fee and costs. The determination of the Broker in accordance with this Section 17.03 shall be final and binding on or before the first day parties and a judgment may be rendered thereon in a court of each succeeding calendar month during competent jurisdiction. During the term period requiring the adjustment of this Lease. Base Rent to fair market rent, Tenant shall pay, as additional Base Rent pending such determination, the Base Rent in effect for the Property immediately prior to such adjustment; provided, however, that upon the determination of the applicable fair market rent, Tenant shall pay Landlord the difference between the amount of Base Rent Tenant actually paid and fair market rent immediately upon the determination of fair market rent. Landlord and Xxxxxx have signed this Lease at the place and on the dates specified adjacent to their signatures below and have initialed all other sums due under Riders which are attached to or incorporated by reference in this Lease. Notwithstanding anything in this Lease to the contrary"LANDLORD" Signed on ____________, if Landlord2000 BUCKHEAD INDUSTRIAL PROPERTIES, for any reason whatsoever (other than Tenant's default)INC., cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later ofa Maryland corporation By: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995./s/ Xxxx Xxxxxx ---------------------------------- Its: VICE PRESIDENT ---------------------------------- By: __________________________________ Its: __________________________________

Appears in 1 contract

Samples: Trimedyne Inc

Base Rent. Tenant agrees The “Commencement Date” shall mean the date on which the Substantial Completion Date (as defined in Exhibit B) occurs. Lessor and Lessee will confirm in writing the Commencement Date. Subject to any Project Delays (as defined in Exhibit B), commencing on the later of the Commencement Date or April 1, 2023 (the “Rent Commencement Date”), Lessee shall pay monthly to Lessor as base annual rent during an amount equal to the term of this Lease the sum of money set forth in Section 1.6 of this LeaseFinal Cost multiplied by NINE AND TWENTY-FIVE HUNDREDTHS PERCENT (9.25%) (“Base Rent”), which amount shall be payable to Landlord at the address shown above. One Lessor in twelve equal monthly installment shall be due and payable installments in advance on or before the first day of each calendar month succeeding the Commencement Date during the term Term at such place as Lessor shall designate from time to time in writing, without offset, deduction or demand. By way of this Lease; providedexample, if in the Commencement Date should event the Final Cost is $10,000,000, the annual Base Rent shall be $925,000, payable in monthly installments of $77,083.33. Base Rent for any period during the Term which is less than one (1) month shall be paid in a date other than pro rata portion of the monthly rental installment amount. Lessor shall deliver notice to Lessee of Lessor’s calculation of the Base Rent at the same time Lessor delivers notice to Lessee that Lessor’s Work is substantially complete (the “Base Rent Notice”). In addition, Lessee acknowledges that all costs and expenses comprising the Final Cost which are used in the calculation of Base Rent may not be available at the time Lessor delivers notice that Lessor’s Work is complete, therefore, Lessor shall have the right, for a period of six (6) months after Lessor delivers the Base Rent Notice, to deliver written notice to Lessee (the “Adjusted Base Rent Notice”) adjusting Base Rent to reflect the actual Final Cost. Lessee shall pay Base Rent as set forth in the Adjusted Monthly Rent Notice on the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession immediately following Lessee’s receipt of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995Adjusted Base Rent Notice and, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)addition, Landlord Lessee shall pay to Tenant, Lessor the incremental difference in Base Rent for any prior months in the event Base Rent as a credit against set forth in the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until Adjusted Base Rent Notice is greater than the Premises are substantially complete and ready for Tenant's occupancy; and provided that if Base Rent set forth in the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the PremisesBase Rent Notice. In the event Landlordsuch incremental difference in Base Rent is greater than $20,000, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant it may thereafter terminate this Lease by written notice to be paid in six equal installments over the other, given on or before May 25, 1995six months following the Adjusted Monthly Base Rent Notice.

Appears in 1 contract

Samples: Charter School Lease

Base Rent. Tenant agrees to pay monthly as base rent during for the term of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount Property shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable increased on or before the first day of each calendar month succeeding the Commencement Date during Extension Period to an amount equal to the term "fair rental value" of this Lease; provided, if the Commencement Date should be a date other than Property as of the first day of a calendar monththe Extension Period (which fair rental value determination may include increases in rent during the Extension Period), which fair rental value shall be determined by Landlord in its sole but reasonable discretion, after evaluating, among other things, the monthly rental set forth above shall be prorated to rents at similar buildings in the end of that calendar monthsame general geographic area, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything but in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor no event shall the expiration Base Rent be less than the then current Base Rent being paid by Tenant. Landlord shall notify Tenant in writing of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: such determination of fair rental value within thirty (i) September 1, 1995, or (ii) the date one hundred twenty (12030) days after Landlord secures a building permit from Landlord's receipt of Tenant's notice exercising the City Option. If Tenant shall dispute Landlord's determination of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications fair rental value for the Premises by April 12Property, 1995, then Landlord and Tenant shall cooperate in which case such date shall be extended by good faith to arrive at a mutually agreeable Base Rent within thirty (30) days after receipt of Landlord's notice of fair rental value. If the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are Parties cannot substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)agree, Tenant shall have the optionright to either (a) submit the issue of Landlord's reasonableness (but not the fair rental value) for neutral binding arbitration (and not by court action) to the American Arbitration Association in accordance with the rules of such Association then in effect, in its absolute and unfettered discretion, to terminate this Lease or (b) rescind Tenant's exercise of the applicable Option by delivery of written notice to Landlord given at any time prior to substantial completion within ten (10) days after said thirty (30) day negotiation period, in which event, this Lease shall terminate upon the expiration of the Premises Lease Term or the first Extension Period, as applicable (unless sooner terminated in accordance herewith), and Tenant taking occupancy shall have no further right of option to extend the Lease Term. Tenant shall exercise such right of arbitration by delivering written notice of such election within thirty (30) days after receipt of Landlord's notice of fair rental value. If the arbitrators shall decide that Landlord's determination of fair rental value was reasonable, then fair rental value shall be the amount previously determined by Landlord. If the arbitrators shall determine that Landlord acted unreasonably, then Landlord shall redetermine the fair rental value in its sole but reasonable discretion, provided that Tenant shall again have the right to challenge Landlord's reasonableness in the manner set forth above. In no event shall the arbitrators be permitted to determine rental value under this Lease. The decision of the Premisesarbitrators shall be binding upon both parties. In Each party shall share equally the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to cost of the other, given on or before May 25, 1995arbitration process.

Appears in 1 contract

Samples: Industrial Real Estate Lease (All American Semiconductor Inc)

Base Rent. Tenant agrees Subject to pay monthly as base rent during the term abatement provisions set forth below and the satisfaction of this Lease all of the sum of money contingencies set forth in Section 1.6 of this LeaseParagraph 8 below, which amount the Sublessee shall be pay to the Sublessor base rent in monthly installments, each installment payable to Landlord at in the address shown above. One monthly installment shall be due and payable amounts set forth below in advance on or before the first (1st) day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this LeaseSublease, commencing on the Commencement Date (the “Base Rent”). Tenant The annual amount of the Base Rent due by the Sublessee to the Sublessor for the first year of this Sublease shall paybe $554,800.00 payable in equal 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, as additional rent, the Base Rent shall increase by 1.89% per 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 sums amounts due under this Sublease shall be paid by the Sublessee in advance without notice, set-off or deduction except as expressly provided in this Sublease, in lawful money of the United States to the Sublessor, at X00 X00000 Xxxxxxxxx Xxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxxx 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 the Master Lease, to make all Base Rent payments and other payments due hereunder directly to the Master Landlord pursuant to the terms of the Subordination, Non-disturbance, Attornment, Renewal and Option to Purchase Agreement between the Master Landlord and the Sublessee (the “SNDA”), and any such payments made to the Master Landlord in accordance with 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 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 anything in this Lease any provision to the contrarycontrary contained herein, if Landlordthe Base Rent shall be abated for, for any reason whatsoever (other than Tenant's default), cannot deliver possession of and the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease Sublessee shall not be void or voidable, nor shall Landlord be liable obligated to pay the Base Rent due for any loss or damage resulting therefrom, nor shall the expiration seven (7) month period commencing on the date that all of the term be extendedcontingencies set forth in Paragraph 8 below have been satisfied, but all rent except for the contingency for the Sublessee to obtain the BEIP Grant, and additional rent ending on the date that is seven (7) months immediately following such date; provided however, that such abatement shall be abated until Landlord delivers possessionnot affect the Sublessee’s obligation to pay any other amounts or perform any other obligations under this Sublease; and further provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord Sublessee shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given default at any time prior beyond any applicable notice and cure periods under this Sublease and the Sublessor exercises its remedies with respect to substantial completion 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 the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite all amounts due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate under this Lease by written notice to the other, given on or before May 25, 1995Sublease as though there were no provisions for rent abatement.

Appears in 1 contract

Samples: Deed of Lease Agreement (American Bank Note Holographics Inc)

Base Rent. Buyer will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to the Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller or Selling Subsidiary and attributable to any period following the Closing Date. Rents are “Delinquent” when they were due prior to the Closing Date, and payment thereof has not been made on or before the Closing Date. Delinquent Rents shall be identified as of the Closing Date. All Rent collected by Buyer or Seller from each Tenant agrees from and after Closing will be applied as follows: (i) first, to pay monthly Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”), (ii) second, to any accrued Rents owing to Buyer, and (iii) third, to Delinquent Rents owing to Seller for the period prior to Closing. Any Rent collected by Buyer and due Seller or Selling Subsidiary will be remitted to Seller monthly. Any Rent collected by Seller or Selling Subsidiary and due Buyer shall be promptly remitted to Buyer. Buyer shall use reasonable efforts to collect Delinquent Rents more than thirty (30) days past billing owed to Seller or Selling Subsidiary in the ordinary course of its business (which shall not include any obligation to pursue eviction or other legal remedies against Tenant) for a period of ninety (90) days. Notwithstanding anything to the contrary contained herein, Seller reserves all claims and causes of action against Tenants who owe Delinquent Rents more than thirty (30) days past billing and Seller may commence and prosecute a contract action against Tenants after Closing to collect such Delinquent Rents more than thirty (30) days past billing, provided no such action shall seek termination of the Lease, eviction of a Tenant, or any levy against a Tenant’s interest in its Lease and no such action shall be commenced sooner than ninety (90) days after the Closing Date. “Additional Rents” shall mean any and all amounts due from Tenants for operating expenses, common area maintenance charges, Real Estate Taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other Tenant charges. Buyer shall receive a credit for the prorated portion of the Buyer’s Commissions attributable to the period of time between the Effective Date and the Closing Date as base rent during the term of this Lease the sum of money more particularly set forth in Section 1.6 of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 19957.2.

Appears in 1 contract

Samples: Real Estate Sales Contract (Silver Bay Realty Trust Corp.)

Base Rent. Tenant agrees to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.6 For purposes of this Lease, which amount the “Base Rent Commencement Date” shall mean the later of (a) forty-five (45) days following Substantial Completion of the Leasehold Improvement Work for the North Building (as defined in the Construction Addendum), and (b) November 1, 2008; provided that Substantial Completion of the Leasehold Improvement Work has been achieved. Commencing on the Base Rent Commencement Date, Tenant hereby covenants and agrees to pay “Base Rent” in accordance with the Base Rent schedule set forth in Exhibit “D,” attached hereto and made a part hereof. Base Rent shall be payable paid without demand, set off or deduction, except as otherwise expressly set forth in this Lease, to Landlord at the address shown above. One monthly installment set forth in this Lease or such other address as Landlord directs in writing, and shall be due and payable paid in advance in equal monthly installments on or before the first day of each calendar month succeeding in lawful United States currency, together with any and all rental, sales or use taxes levied by any governmental body having authority upon the Commencement Date during use or occupancy of the term of this Lease; provided, if Premises and any rent or other charges payable hereunder. If the Base Rent Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall applicable to the first full calendar month will also apply to the initial partial calendar month and will be prorated to the end of that the partial calendar month. As provided in, and all succeeding installments subject to the terms of, the Construction Addendum, if any Tenant Delay delays Substantial Completion of rent the Leasehold Improvement Work, then Substantial Completion of the Leasehold Improvement Work shall be payable on or before deemed to be the first day date that Substantial Completion of each succeeding calendar month during the term of this Lease. Leasehold Improvement Work would have been achieved, but for such Tenant shall payDelay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if reasonably determined by Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 1 contract

Samples: Lease Agreement (Office Depot Inc)

Base Rent. Tenant agrees Buyer will receive a credit at Closing for the prorated amount of all base or fixed rent payable pursuant to pay monthly as base rent during the term of this Lease Leases and all Additional Rents (collectively, “Rent”) previously paid to, or collected by, Seller and attributable to any period following the sum of money set forth in Section 1.6 of this LeaseClosing Date. Rents are “Delinquent” when they were due prior to the Closing Date, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable payment thereof has not been made on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this LeaseClosing Date. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease Delinquent Rent shall not be void prorated at Closing. All Rent collected by Buyer or voidable, nor shall Landlord Seller from each Tenant from and after Closing will be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later ofapplied as follows: (i) September 1first, 1995to Delinquent Rent owed for the month in which the Closing Date occurs (the “Closing Month”) attributable to Buyer’s period of ownership, or (ii) second, to any accrued Rents owing to Buyer, and (iii) third, to Delinquent Rents owing to Seller for the date one hundred twenty period prior to Closing. Any Rent collected by Buyer and due Seller will be promptly remitted to Seller. Any Rent collected by Seller and due Buyer shall be promptly remitted to Buyer. Buyer shall use reasonable efforts for a period of three (1203) months to collect Delinquent Rents owed to Seller in the ordinary course of its business, provided that Buyer shall in no event be obligated to initiate eviction or litigation proceedings. “Additional Rents” shall mean any and all amounts due from Tenants for operating expenses, common area maintenance charges, taxes, shared utility charges, management fees, insurance costs, other comparable expenses and pass-through charges and any other Tenant charges. At least five (5) days after Landlord secures prior to the Closing Date, Seller shall provide Buyer with a building permit reasonably detailed reconciliation for each Tenant showing all common area maintenance charges, property taxes, insurance and other operating cost pass-throughs payable by Tenants (collectively, the “Operating Expenses”) incurred by Seller from the City beginning of Arden Hillsthe then-current calendar year (and if the prior calendar year has not been prorated, which Landlord also for said prior year) (or, if different, such Tenants’ then-current annual billing period for Operating Expenses, and if the prior period has not been prorated, also for said prior period) through the Closing Date, and any Operating Expense estimates or charges collected by Seller during the same period of time and relating to such Tenant, all in the form customarily submitted to each Tenant (the “CAM Reconciliation”). To the extent that Seller has received as of the Closing any monthly or periodic payments of Operating Expenses allocable to periods subsequent to Closing, the same shall diligently pursuebe prorated and Buyer shall receive a credit therefor at the Closing. With respect to any monthly or periodic payments of Operating Expenses received by Buyer after the Closing allocable to Seller prior to Closing, Buyer shall promptly pay the same to Seller (except subject to the provisions above relating to Delinquent Rent). Notwithstanding the foregoing, to the extent that the CAM Reconciliation reveals that Seller has over-collected Operating Expenses from any Tenant such that, if the end of the operating expense year under the Leases was the Closing Date, Seller would be obligated to refund money to such Tenant (an “Over Collection”), rather than collect additional money from such Tenant (an “Under Collection”), said Over Collection shall be paid by reason of force majeure or Tenant caused delays, including failure Seller to approve plans and specifications for Buyer at the Premises by April 12, 1995Closing as a settlement statement credit; provided, in which case such date the event of an Under Collection, the amount of the Under Collection shall be extended paid by Buyer to Seller outside of escrow within 5 Business Days after receipt from the number applicable Tenant in connection with the year-end Operating Expense reconciliation process. The provisions of days equal to this Section 10.3 shall survive the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against Closing and the first installments delivery of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995conveyance documentation.

Appears in 1 contract

Samples: Real Estate Sales Contract and Escrow Instructions (Industrial Income Trust Inc.)

Base Rent. Landlord and Tenant agrees acknowledge and agree that, effective as of the beginning of the third month following the Expansion Premises Occupancy Date, Tenant shall commence paying Annual Base Rent for the Expansion Premises ("Expansion Premises Base Rent"), in addition to pay monthly the Base Rent payable for the Initial Premises as base rent during the term of this Lease the sum of money set forth described in Section 1.6 2.2 of this Leasethe Lease and on the same terms and conditions described therein, which amount shall be payable to Landlord at Annual Expansion Premises Base Rent for the address shown above. One monthly installment shall be due and payable period beginning on or before the first day of each calendar the third month succeeding following the Commencement Expansion Premises Occupancy Date during to, through and including February 28, 2010, shall be Four Hundred Seventy-Three Thousand, Eight Hundred Seventeen and 50/100 Dollars ($473,817.50)on an annual basis. Thereafter, commencing on March 1, 2010, and continuing through the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar monthExtended Term, the monthly rental set forth above Expansion Premises Base Rent shall be prorated to the end product of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: multiplying (i) September the Expansion Premises Base Rent payable for the preceding Lease Year (the preceding twelve-month period ending March 1, 1995, or ) by (ii) the date one hundred twenty CPI Increase during the preceding Lease Year; provided, however, in no year shall the CPI Increase exceed two percent (1202%) days after Landlord secures a building permit from of the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications Base Rent for the preceding Lease Year of the Extended Term. As of the Expansion Premises Occupancy Date, the total Base Rent payable by April 12, 1995, in which case such date Tenant under the Lease shall be extended by the number sum of days equal (aa) the Base Rent then in effect under the Lease with respect to the delays caused by TenantInitial Premises, plus (bb) the Expansion Premises Base Rent for the Expansion Premises (provided that Expansion Premises Base Rent shall not commence until the beginning of the third month following the Expansion Premises Occupancy Date), Landlord shall pay but in each instance subject to Tenantthose increases as described in the Lease, as a credit against amended hereby (in Section 2.2 of the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal Lease with respect to the delays caused by Tenant), Tenant shall have the option, Initial Premises and in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion paragraph of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice Amendment with respect to the other, given on or before May 25, 1995Expansion Premises).

Appears in 1 contract

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

Base Rent. Tenant agrees shall pay to pay monthly as base rent during the term of this Lease the sum of money set forth Landlord, in Section 1.6 of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable advance on or before the first day of each calendar month succeeding commencing on the Rent Commencement Date (as hereinafter defined), without further notice or demand and without offset or deduction, the monthly installments of rent specified in the Basic Lease Information (the "BASE RENT"). As used herein, "RENT COMMENCEMENT DATE" means the earlier to occur of the Commencement Date or April 1, 1998. Tenant understands and agrees that Base Rent and Additional Rent shall accrue and be payable hereunder commencing on the Rent Commencement Date irrespective of whether or not the Term has commenced by such date and that Landlord would not have entered into this Lease but for Tenant's willingness to pay Base Rent and Additional Rent to Landlord commencing on the Rent Commencement Date. The Base Rent under this Paragraph 4(a) shall be adjusted, as stated below, on April 1 of each year during the term Term commencing on April 1, 1999 to reflect percentage increases in the cost of living. The Consumer Price Index (U.S. Department of Labor Consumer Price Index (all items) for Urban Wage Earners and Clerical Workers, San Francisco Bay Area (1982-1984=100), hereinafter referred to as the "INDEX") published for the month immediately preceding each such adjustment date (each, an "ADJUSTMENT INDEX") and the Index published for the month immediately preceding the Commencement Date of this Lease ("BASE INDEX") shall be compared and the percentage difference between the Adjustment Index and the Base Index shall be determined. The initial Base Rent specified in the Basic Lease Information shall be increased by adding to said initial Base Rent the percentage amount of said initial Base Rent equal to the percentage difference between the Base Index and the applicable Adjustment Index; provided, however, in no event shall the initial Base Rent hereunder be increased by less than four percent (4%) or more than seven percent (7%) for any one year. When the adjusted Base Rent is determined after each adjustment date, Landlord shall give Tenant written notice indicating the amount thereof and the method of computation. If the Consumer Price Index is changed or discontinued, Landlord shall substitute an official index published by the Bureau of Labor Statistics or its successor or similar governmental agency as may then be in existence and shall be most nearly equivalent thereto. Upon execution of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, Landlord the Prepaid Rent and first monthly installment of estimated Additional Rent (as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenanthereinafter defined), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 1 contract

Samples: Lease Agreement (General Magic Inc)

Base Rent. Tenant agrees to pay monthly as base rent during Base Rent for the term first twelve (12) months of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount Renewal Term shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day greater of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995the Base Rent scheduled for the final month of the initial Lease Term, or (ii) the date fair market base rental value of the Premises; Base Rent shall increase by three percent (3%) each twelve (12) months. As used herein, the fair market base rental value of the Premises is defined as the amount of base monthly rental, which a willing and fully informed lessee would pay and which a willing and fully informed lessor would accept for minimum rental of the Premises on the terms set forth in this Lease for a sixty (60) month term as of the first day of the Renewal Term. In determining the fair market base rental value, reference may be made to other recent leases in the Building and/or in other buildings owned or managed by Lessor. Lessor and Lessee shall attempt, in good faith, to agree upon the fair market base rental value of the Premises. If they are unable to agree by the one hundred twenty eightieth (120180th) day prior to the Expiration Date of the Lease Term, then, within ten (10) days thereafter, Lessor and Lessee shall (x) each submit in writing their respective offer of fair market base rental value, and (y) jointly appoint an MAI or other qualified appraiser, who shall deliver, within thirty (30) days after Landlord secures a building permit from appointment, his or her written letter of opinion as to which of the City two figures submitted by Lessor and Lessee is closest to the fair market base rental value of Arden Hillsthe Premises effective as of the date the rental adjustment is to occur, which Landlord opinion shall diligently pursue, (except by reason be deemed to be the fair market base rental value of force majeure or Tenant caused delays, including failure to approve plans and specifications the Premises. If such fair market base rental value is less than Base Rent for the Premises by April 12last month of the initial Lease Term, 1995, in which case such date then Base Rent for the Renewal Term shall be extended the same as for the last month of the initial Lease Term. The fee of the appraiser shall be paid by the number party whose offered figure is not selected by the appraiser. In the event the parties are unable to agree on the appraiser within the ten day period, then within ten (10) days thereafter the parties shall each appoint their own appraiser (each an "Initial Appraiser") at their own expense. Within ten (10) days thereafter, the Initial Appraisers shall together appoint a third qualified appraiser. If either party fails to timely notify the other of days equal its appointment of an Initial Appraiser, the remaining Initial Appraiser shall be deemed the appraiser hereunder. If for any reason, the fair market base rental value of the Premises is not determined prior to the delays caused by Tenant)first day of the Renewal Term, Landlord this Lease shall nevertheless remain in effect, and during the interim period until such rental rate is finally determined, Lessee shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, Base Rent in an amount equal to $500.00 the amount which was scheduled to be paid for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if final full month of the Premises are not substantially complete and ready for Tenant's occupancy initial Lease Term. Any accrued payment shortage, together with interest at the rate of nine percent (9%) per annum on or before October 1unpaid amounts from the applicable dates, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of made within ten (10) days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy determination of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995renewal rental rate.

Appears in 1 contract

Samples: Lease (Merix Corp)

Base Rent. Tenant agrees shall deliver to pay monthly as base rent during the term Landlord, concurrent with Txxxxx’s delivery of an executed copy of this Lease to Landlord, the sum Base Rent due for the calendar month in which the day immediately following the expiration of money set forth the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in Section 1.6 which the day immediately following the expiration of this Lease, which amount the Subsequent Abatement Period occurs). Tenant shall be payable pay to Landlord at the address shown above. One in advance, without demand, abatement, deduction or set-off, monthly installment shall be due and payable installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date during the term Term hereof after the expiration of the DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 800 Xxxxxxxxxx Xxxx – Xxxxx 000/Xxxxx Tx - Page 4 Subsequent Abatement Period, in lawful currency of the United States of America, to the physical address designated by Landlord or by federally insured electronic fund transfer (“EFT”) via wire, Society for Worldwide Interbank Financial Communications (SWIFT) or automated clearing house (ACH) pursuant to the instructions provided by Landlord to Tenant (the “EFT Payment Instructions”). All EFT payments made by Tenant pursuant to this Lease; providedSection 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 800 Xxxxxxxxxx Xx.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the Commencement Date should be expiration of the Subsequent Abatement Period occurs on a date day other than the first day of a calendar month, then Tenant shall pay to Landlord the monthly rental set forth above prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be prorated applied to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding full calendar month during following the term 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 LeaseLease are independent obligations. Tenant shall payhave no right at any time to axxxx, reduce, or set-off any Rent (as additional rent, all other sums defined in Section 5) due under hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything in this Lease to the contrarycontrary contained herein, if Landlordso long as Tenant is not then in Default under this Lease, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall Landlord be liable for any loss or damage resulting therefrom, nor shall commence paying full Base Rent on the day immediately following the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if Subsequent Abatement Period. For the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City avoidance of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)doubt, Tenant shall have be required to pay Operating Expenses and all other amounts payable under the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of during the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Subsequent Abatement Period.

Appears in 1 contract

Samples: Lease Agreement (CARGO Therapeutics, Inc.)

Base Rent. Tenant agrees to shall pay Landlord rent (herein called "BASE RENT") in arrears, in currency that at the time of payment is legal tender for public and private debts in the United States of America, in monthly as base rent during installments on each Base Rental Date through the term end of the Term. Each payment of Base Rent must be received by Landlord no later than 10:00 A.M. (San Francisco time) on the date it becomes due; if received after 10:00 A.M. it will be considered for purposes of this Lease as received on the sum next following Business Day. Each installment of money set forth Base Rent shall represent rent allocable to the Construction Period or Base Rental Period ending on the date on which the installment is due. Landlord shall notify Tenant in Section 1.6 writing of this Leasethe Base Rent due for the Construction Period ending on the Base Rental Commencement Date (if any) and for each Base Rental Period at least three (3) days prior to the Base Rent Commencement Date or Base Rental Date on which such period ends, which amount but any failure by Landlord to so notify Tenant shall be payable not constitute a waiver of Landlord's right to Landlord at payment. If Tenant or any other Applicable Purchaser purchases Landlord's interest in the address shown above. One monthly installment Leased Property pursuant to the Purchase Agreement, any Base Rent for the month (or shorter period) ending on the date of purchase and all outstanding Additional Rent shall be due on the Designated Payment Date in addition to the purchase price and other sums due Landlord under the Purchase Agreement. The Base Rent payable on or before the Base Rental Commencement Date shall equal the difference (if any) between (a) total Carrying Costs that would have been added to the Outstanding Construction Allowance on such date if the Construction Allowance available hereunder were not limited to the Maximum Construction Allowance, and (b) the Carrying Costs actually added on such date to the Outstanding Construction Allowance. The Base Rent for each Base Rental Period shall equal (A) Stipulated Loss Value on the first day of each calendar month succeeding such Base Rental Period, times (B) the Commencement Date during Effective Rate with respect to such Base Rental Period, times (C) the term number of this Leasedays in such Base Rental Period, divided by (D) three hundred sixty (360). Assume, only for the purpose of illustration: that a hypothetical Base Rental Period contains exactly thirty (30) days; provided, if the Commencement Date should be a date other than that on the first day of such Base Rental Period, after the entire Construction Allowance had been funded, and after deducting a calendar monthtotal of $13,200,000 of Qualified Payments received by Landlord, the monthly rental set forth above shall be prorated resulting Stipulated Loss Value is $5,000,000; and that the Effective Rate computed with respect to the end of that calendar monthapplicable Base Rental Period is 6%. Under such assumptions, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during Base Rent for the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later ofhypothetical Base Rental Period will equal: (i) September 1, 1995$5,000,000 x 6% x 30/360, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 199525,000.

Appears in 1 contract

Samples: Custodial Agreement (Cypress Semiconductor Corp /De/)

Base Rent. In consideration of the leasing aforesaid, and subject to the terms, provisions and conditions of this Lease (including, without limitation, this Section 1.1), Tenant agrees to pay monthly to Landlord, by wire transfer of immediately available funds to Landlord as follows: MB Financial Bank ABA # 000000000 for credit to the account of Lake Forest Landmark Company, LLC Account # 00000000 or at such other place as Landlord from time to time may designate in writing to Tenant (such modified payment instructions being effective only as to payments due to Landlord after the expiration of ten (10) business days after delivery of such written notice to Tenant), an annual base rent during rental commencing on January 1, 2019 (the term “Rent Commencement Date”) and continuing throughout the Term, based on the RSF of this Lease the sum of money Premises and the annual base rental rate set forth in Section 1.6 the schedule of Base Rent below. The “RSF” for the Building and the Premises are as set forth in Recital A hereof and Recital C hereof, respectively, and were determined by Landlord in accordance with the methods of measuring rentable area as described in the “Standard Method for Measuring Floor Area in Office Buildings” approved by the American National Standards Institute, Inc. and the Building Owners and Managers Association International (ANSI/BOMA Z65.1-2017), consistently applied (“BOMA Standards”). Upon completion of the Initial Work (as defined below), Landlord shall re-determine the RSF of the Premises based on BOMA Standards and notify Tenant of such calculation in writing (“Landlord’s RSF Determination”), and subject to the remaining provisions of this Leaseparagraph, any applicable adjustments shall be deemed to have been made based on such re-determined RSF (including an adjustment of Base Rent, Tenant’s Pro Rata Share of Real Estate Taxes and Tenant’s Pro Rata Share of Operating Expenses). Tenant shall have ten (10) days to review Landlord’s RSF Determination and to notify Landlord whether it agrees or disagrees with the calculations with respect thereto. If Tenant fails to notify Landlord in writing of its disagreement with Landlord’s RSF Determination within such ten (10) day period, then the size of the Premises shall be conclusively deemed to be the size set forth in Landlord’s RSF Determination. If Tenant timely notifies Landlord in writing of its disagreement with Landlord’s RSF Determination, then Landlord and Tenant shall use diligent, good faith efforts to agree upon the RSF of the Premises within ten (10) days after Tenant delivers its notice of disagreement. If Landlord and Tenant fail to so agree, then Tenant shall have the right, by delivering written notice to Landlord prior to the end of such ten (10) day period, to have the RSF of the Premises determined by a reputable third architect reasonably acceptable to Landlord through field measurement (using the BOMA standards described above), which amount determination shall be payable conclusive and binding on the parties. Tenant shall bear the cost of such third party architect unless, based on such field measurement, the RSF of the Premises, as so determined by such third party architect, differs from that set forth in Landlord’s RSF Determination by more than three percent (3%), in which event Landlord will bear the cost of such third party architect. If Tenant fails to notify Landlord in writing of its intention to re-measure the space within the ten (10) day period described above, then the RSF of the Premises as set forth in Landlord’s RSF Determination shall be final and conclusive. Upon the final determination of the RSF of the Premises in accordance with the provisions set forth above, Landlord and Tenant shall execute an amendment to this Lease reflecting the final RSF of the Premises and any related required modifications to this Lease as a result thereof, including modifications of Base Rent, Tenant’s Pro Rata Share of Real Estate Taxes and Tenant’s Pro Rata Share of Operating Expenses. From and after the Rent Commencement Date through the expiration of the Initial Term, Tenant will pay to Landlord at an annual base rental for the address shown above. One Premises as follows (it being agreed that the amounts set forth below for the “Annual Base Rent” and the “Monthly Base Rent” assume that the Premises will contain 31,209 RSF): Lease Year Annual Base Rental Rate per RSF Annual Base Rent Monthly Base Rent 1 (with respect to the partial Lease Year from Rent Commencement Date through June 30, 2019) $18.00 $561,762.00 $46,813.50 2 (July 1, 2019 through June 30, 2020) $18.50 $577,366.50 $48,113.88 3 (July 1, 2020 through June 30, 2021) $19.00 $592,971.00 $49,414.25 4 (July 1, 2021 through June 30, 2022) $19.50 $608,575.50 $50,714.63 5 (July 1, 2022 through June 30, 2023) $20.00 $624,180.00 $52,015.00 6 (with respect to the partial Lease Year from July 1, 2023 through December 31, 2023) $20.50 $639,784.50 $53,315.38 The aforesaid annual rental amounts are sometimes herein referred to as the “Base Rent,” and will be payable monthly, in advance, in equal monthly installment shall be due installments, commencing on the Rent Commencement Date and payable continuing on or before the first day of each calendar and every month thereafter for the next succeeding months during the balance of the Term. If the Rent Commencement Date during the term of this Lease; provided, if the Commencement Date should be is a date other than the first day of a the calendar monthmonth in which the same occurs, monthly rent for the monthly rental set forth above shall first month of the Term will be prorated to based upon the end of ratio that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal in the Term within such month bears to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the total number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995such month.

Appears in 1 contract

Samples: Office Lease (Depomed Inc)

Base Rent. Section 4: Commencing July 31, 2014, Tenant agrees to shall pay monthly Base Rent in an annual amount and rate of $39.38 per square foot for the portion of the gross building area of the Building available for occupancy by Tenant for the emergency room facilities (“Emergency Room Phase”) and endoscopy facilities (“Endoscopy Phase”), as base rent during designated on Exhibit A or as amended by change order in accordance herewith, from and after the date of such availability of each such phase for each year of the first five (5) years of the initial term of this Lease, or each year of the remainder of the first five (5) years of the initial term of this Lease from and after such date of availability, as the sum case may be. Also commencing July 31, 2014, Tenant shall further pay Base Rent in an amount and rate of money set forth in Section 1.6 $10,000.00 per month for the first two (2) years of the initial term of this Lease, which until and unless adjusted as herein provided, for the remaining portions of the area of the Building shell space designated for Tenant’s use for physicians’ offices on Exhibit A or as amended by change order in accordance herewith. Provided, that, as physicians’ offices are constructed by Landlord upon Tenant’s written order, provided to Landlord during said two (2) year period, for construction of the same, Tenant shall pay Base Rent in an annual amount and rate of $21.50 per square foot for such completed office space (“Tenant Physicians’ Offices”) from and after the date it is made available by Landlord to Tenant for occupancy for such purposes for each year of the remainder of the first five (5) years of the initial term of this Lease, and if such Tenant Physicians’ Offices are made available during said two (2) year period, then from and after each such date of availability, the initial $10,000.00 monthly Base Rent for the entirety of the shell space designated for Tenant’s use for physicians’ offices shall be payable reduced ratably for the remainder of said two (2) year period from and after each such date of availability based upon the percentage of total space completed for Tenant Physicians’ Offices as of each such date. Provided, that commencing July 31, 2016 Tenant’s obligation to pay rent for any of the space designated for Tenant’s use for physicians’ offices which has not been occupied or made available for Tenant Physicians’ Offices, or for which a written order for construction of the same has not been received by Landlord, as of such date, shall cease and Landlord at may rent the address shown abovesame for its benefit and for such purposes and upon such terms as Landlord may determine, subject only to such restrictions as may apply by the terms of this Lease or otherwise. One For and during each of the remaining two (2) five (5) year periods of the initial term of this Lease all Base Rent for the Emergency Room Phase, Endoscopy Phase and Tenant Physicians’ Offices may be modified by Landlord, not to exceed an increase for each such successive five (5) year period by ten (10%) per cent of the amount and rate of such Base Rent in effect upon the expiration of the immediately preceding five (5) year period. Provided, that in the event the cost of construction pursuant to change orders required by Section 5 hereof, exceeds the total project cost reflected on Exhibit B hereto, all of the Base Rent due and to become due hereunder shall be increased for the initial term of this Lease, commencing on the respective commencement dates for payment of rent herein provided, by an amount equal to ten (10%) per cent of the increase in such cost of construction in excess of said total project cost. Such Base Rent shall be paid in equal monthly installment installments and shall be due and payable in advance on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before being the first day of each succeeding calendar lease month hereunder, during the term hereof. The first month’s rent is due and payable to Landlord July 31, 2014, and all required rental payments shall be made to Belpre IV, LLC, 1000 Xxxxx Xxxxxxx Xxxx, Xxxxxx, Xxxx Xxxxxxxx 00000, and shall continue to be made at this address until Landlord advises of any change of address. Provided, that in the event of the availability of any portions of the Building for occupancy occurring during a lease month based upon the commencement date of this Lease, the Base Rent for the remaining portion of such month shall be prorated and due on such date of availability, and subsequent monthly installments of said Base Rent shall be due and payable in advance on the first day of each lease month during the term remainder of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995term.

Appears in 1 contract

Samples: Lease (Global Medical REIT Inc.)

Base Rent. Tenant agrees to pay (a) A total of [***] for the first Lease Year payable in equal monthly as base rent during the term installments of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount [***]. The Base Rent shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable increased annually commencing on or before the first day of each calendar month succeeding the second Lease Year in accordance with the following schedule: LEASE YEAR TOTAL ANNUAL BASE RENT MONTHLY INSTALLMENT ------------------- ------------------------------------------------ [***] [***] [***] Except as hereafter provided, the above rent schedule shall take effect on the first day of the first Lease Year, which shall be April 1, 2000 unless the Space B Commencement Date during is deferred past April 1, 2000 pursuant to the term express terms of this Lease; providedEXHIBIT B, if in which event the first day of the First Lease Year shall be the Space B Commencement Date should be unless the Space B Commencement Date is a date day other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before in which case the first day of each succeeding the first Lease Year shall be the first day of the calendar month during occurring immediately after the term of this LeaseSpace B Commencement Date. In addition to Base Rent payable under the above rent schedule, Tenant shall paymake a payment to Landlord on April 1, as additional rent2000 in respect of its use and occupancy of Space A in the amount of [***] (for the period prior to and including March 31, all other sums due under this Lease2000). Notwithstanding anything in this Lease to If the contrary, if Landlord, Space B Commencement Date is for any reason whatsoever (other than Tenant's default)deferred past April 1, cannot deliver possession 2000 pursuant to the express terms of EXHIBIT B, Tenant will beginning on April 1, 2000, pay Monthly Base Rent for Space A at a rate of [***] per month for Space A, until the first day of the Premises first Lease Year, at which time the above rent schedule shall apply to the Tenant Premises as a whole. In addition, on the Space B Commencement Date, substantially complete Tenant shall pay Base Rent for Space B for the period between the Space B Commencement Date and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration first day of the term be extendedfirst Lease Year at the same per square foot rental rate as in effect for the first Lease Year, but all rent and additional rent shall be abated until Landlord delivers possession; provided that calculated for Space B on a PER DIEM basis. By way of example, if the Premises are not substantially complete and ready Space B Commencement Date is March 15, 2000, Tenant will, in addition to the [***] payment for Tenant's occupancy by the later of: (i) September Space A which is due on April 1, 19952000, or (ii) and the date one hundred twenty (120) days after Landlord secures Base Rent payment of [***] which is due on April 1, 2000 under the above rent schedule, make a building permit payment of Base Rent for Space B in the amount of [***], for the 17-day period from the City of Arden HillsMarch 15, 2000 to March 31, 2000, inclusive, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans payment will be due and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May March 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 19952000.

Appears in 1 contract

Samples: Pathnet Telecommunications Inc

Base Rent. Commencing on the B4 Commencement Date, and continuing throughout the B4 Expansion Term, Tenant agrees shall pay to pay monthly as base rent during Landlord annual Base Rent for the term of this Lease Building 4 Expansion Space (the sum of money “Building 4 Base Rent”) in an amount which shall be determined in accordance with that certain formula set forth in Section 1.6 1.4.2.1 of this the Lease; provided, however, Landlord and Tenant hereby agree that the subject annual rate of return for purposes of such calculation as set forth in item (iii) in Section 1.4.2.1 of the Lease shall equal eight and 31/100 percent (8.31%) (i.e., the rate which amount shall be payable is 375 basis points over the interest rate applicable to the ten (10) year treasury note as of October 31, 2005). Based upon Landlord’s then-existing estimate of the B4 Project Costs and resulting Building 4 Base Rent, Landlord at the address shown above. One monthly installment shall be due and payable shall, on or before the first day date which is sixty (60) days prior to the B4 Commencement Date, provide written notice to Tenant of each calendar month succeeding the then-anticipated initial Building 4 Base Rent (the “Initial B4 Base Rent Estimate”). Subject to the immediately following sentence, Tenant shall initially pay to Landlord monthly installments of Initial B4 Base Rent Estimate as the B4 Base Rent initially due and owing pursuant to the terms of the Lease. Within ninety (90) days following the B4 Commencement Date during Date, Landlord shall deliver to Tenant a notice (a “B4 Base Rent Memorandum ”) substantially in the term of this Leaseform attached hereto as Exhibit B, setting forth the actual Building 4 Base Rent, which Tenant shall execute and return to Landlord within ten (10) business days after receipt thereof, and Landlord and Tenant shall, within thirty (30) days following the date Landlord delivers the B4 Base Rent Memorandum to Tenant, reconcile the amount that should have been paid by Tenant based on the actual Building 4 Base Rent with the amount actually paid by Tenant based on the Initial B4 Base Rent Estimate; provided, if the Commencement Date should be a date other than the first day of a calendar monthhowever, the monthly rental set forth above shall be prorated to the end of extent that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if audits Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession ’s determination of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.B4 Project Costs pursuant to

Appears in 1 contract

Samples: Lease (Intuit Inc)

Base Rent. Tenant agrees to pay monthly as base rent Base Rent during the term of this Lease the sum of money set forth in Section 1.6 1.5 of this Lease, which amount shall will be payable to Landlord at the address shown above. One monthly installment Monthly installments of Base Rent shall be due and payable payable, in advance, on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, provided that if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above Base Rent shall be prorated on a daily basis to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term Commencement Date of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession Landlord will promptly commence construction of the Building and Premises and shall diligently pursue construction thereof in order to have the Tenant Building and the Premises substantially complete on the Commencement Date. For the purposes of this provision, "substantially complete complete" shall mean that the Building and ready for Tenant's occupancyPremises are substantially completed in accordance with the approved construction documents and the requirements of the City of Arden Hills, this Lease shall subject only to punchlist and minor completion items that will not prevent Tenant from occupying and commencing operations within the Premises, which punchlist and minor completion items Landlord agrees to promptly complete. If, prior to June 15, 1999, Landlord determines that it will not be void able to deliver the Building and Premises to Tenant in the condition required by the anticipated Commencement Date, Landlord shall notify Tenant, in writing, on or voidablebefore July 1, nor 1999, and the Commencement Date shall be extended to the actual substantial completion date. In such event, Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration provide Tenant with not less than forty-five (45) days prior written notice of the term be extendedanticipated substantial completion date. If, but all rent subject to force majeure or Tenant caused delays, the Building and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September August 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)1999, Landlord shall pay to Tenant, as a credit against the first installments installment of rent Base Rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Building and the Premises are substantially complete and ready for Tenant's occupancy; . If, subject to force majeure or Tenant caused delays, the Building and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October by September 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)1999, Tenant shall have the option, in its absolute and unfettered discretion, option to terminate this Lease by written notice to Landlord given at any time after September 1, 1999 and prior to substantial completion of the Premises Building and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 1 contract

Samples: Lease Terms (Fair Isaac & Company Inc)

Base Rent. 5.1 Commencing on the Commencement Date, Tenant agrees to pay monthly as base rent during the term of Lease Term, to Landlord, without any set off or deduction whatsoever (except as otherwise expressly provided in this Lease Lease), and as an independent covenant, the sum Base Rent and all such other sums of money set forth 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 Section 1.6 the case of the nonpayment of Base Rent. Notwithstanding anything to the contrary contained in this Lease, which amount Tenant’s obligation to pay rent as to the First Floor Space shall be payable not commence until (i) Landlord has delivered possession of the First Floor Space to Landlord at Tenant with the address shown aboveTenant 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. One monthly installment 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 or before the first day of each calendar month succeeding during the Commencement Date during 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 Landlord’s address provided in Pxxxxxxxx 00, Xxxxxxxxxxxx 36.12(a) (or such other address as may be designated by Landlord in writing from time to time). If the term of this Lease; provided, if the Commencement Date should be Lease commences on a date day other than the first day of a calendar month or terminates on a day other than the last day of a month, then the monthly rental set forth above installments of Base Rent and any adjustments thereto for such month or months shall be prorated to the end of that calendar monthprorated, and all succeeding installments of rent shall be payable based on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995month.

Appears in 1 contract

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

Base Rent. Tenant agrees to pay monthly as base Base rent during at the commencement of the applicable renewal term of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount --------- lease shall be payable to Landlord at the address shown abovefair market rental rate for the premises determined as of the date of commencement of the renewal period in question. One monthly installment During each renewal period, Base Rent shall be due increased by four percent (4%) over the previous year's base rent, and payable in determining the fair market rental rate for the Premises for such option period, such increase shall be taken into account. The fair market rental rate for the Premises shall be established by written agreement of Landlord and Tenant on or before the first one hundred and fiftieth (150th) day preceding the Expiration Date of each calendar month succeeding the Commencement Date then-current Lease term. Absent such agreement, such fair market rental rate shall be determined by arbitration as follows: Either party may commence the process by appointing an arbitrator who shall be a member of the Appraisers' Institute and shall not have been employed or engaged by either Landlord or Tenant during the term of this Lease; provided, if three (3) year period preceding the Commencement Date should date for which the fair market rental rate is to be a date other than the first day of a calendar month, the monthly rental set forth above determined and shall be prorated have had at least ten (10) year's experience in leasing buildings similar to the end of that calendar month, and all succeeding installments of rent shall be payable on or before Building in the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy geographic area of the Premises. In Such commencing party shall promptly notify the event Landlordother party of the identity of the arbitrator selected and shall instruct the other party to appoint an arbitrator and to notify the commencing party of the identity of such arbitrator within the ten (10) day period following the date of such other party's receipt of the commencing party's notice. Such arbitrator shall have the qualifications described above. The two arbitrators shall, despite due diligencewithin thirty (30) days after both have been appointed, select a third similarly qualified arbitrator. The decision of any two of the three arbitrators in writing shall be binding on both Landlord and Tenant. Should no two arbitrators be able to agree within 30 days after the appointment of the third arbitrator, the report of the arbitrators most favorable to Landlord and the report of the arbitrators most favorable to Tenant shall both be disregarded and the report of the remaining arbitrator shall be binding on both landlord and Tenant. Fair market value must be determined to reflect the fact that rent is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and adjusted at the rate of four percent (4%) per year. Should either Landlord or Tenant may thereafter terminate this Lease by fail to appoint an arbitrator within ten (10) days after receiving written notice from the other to do so, the arbitrator selected by the other party shall act for both and his decision in writing shall be binding upon both Landlord and Xxxxxx. The fair market rental value so established shall continue in effect during such renewal period. In no event will the rent for the renewal period be less than rent prior to the otherrenewal. Each party shall bear the cost of the arbitrator it selects, given on or before May 25, 1995and the two parties shall share equally the cost of the third arbitrator.

Appears in 1 contract

Samples: Letter Agreement (Pure Atria Corp)

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Base Rent. Tenant agrees For the period commencing on the Base Rent Commencement Date through June 13, 2012, an annual amount equal to pay monthly as base rent during the term of this Lease the sum of money set forth in Section 1.6 of this Lease$ 71,006,686, which amount shall increase by ten percent (10%) on June 14, 2012 and June 14, 2017, subject to reduction as hereinafter provided in connection with the termination of a Leased Property. Base Rent for each Fiscal Year shall be payable to Landlord at in advance in twelve (12) equal installments, on the address shown above. One monthly installment shall be due and payable on or before the first ninth (9th) day of each calendar month succeeding of the Commencement Term (the “Rent Payment Date”), provided that if such ninth (9th) day is not a Business Day, then the Rent Payment Date during shall be the term immediately preceding Business Day. Base Rent shall be paid for the period of this Lease; providedthe ninth (9th) of each month (or, if the Commencement Date should be a date other than the first day of a calendar monthapplicable, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date) through the eighth (8th) of the next month (or, substantially complete and ready for Tenant's occupancyif applicable, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extendedTerm) (each, but all rent a “Rental Period”), provided that the first and additional rent last payments of Base Rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1prorated as to any partial Rental Period, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by based on the number of days equal to within the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent Term during such Rental Period and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal in such Rental Period. Tenant hereby agrees to make any reasonable changes with respect to the delays caused by Tenantdefinitions of “Rent Payment Date” or “Rental Period,” including, without limitation, changing the Rent Payment Date and Rental Period, as may be requested in connection with any Landlord’s Debt. Notwithstanding the foregoing, Base Rent in respect of the period from and including the Commencement Date to but not including the Base Rent Commencement Date shall equal the First Rental Period Base Rent. The first Rent Payment Date shall be, and the first installment payment of Base Rent shall be payable on, July 9, 2007 (the “Base Rent Commencement Date”), Tenant which payment shall have include (i) the optionFirst Rental Period Base Rent and (ii) Base Rent in respect of the Rental Period beginning July 9, in its absolute 2007 and unfettered discretionending August 8, 2007. Base Rent shall be reduced by the applicable Base Rent Reduction Amount applicable to terminate any Leased Property with respect to which this Lease by written notice to Landlord given at any time prior to substantial completion of is terminated on the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995applicable Property Removal Date as provided in Section 1.8.

Appears in 1 contract

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

Base Rent. Section 5: Commencing on the Commencement Date, Tenant agrees shall pay Base Rent in an annual amount and rate of $49.31 per square foot (“Effective Rate”) for the amount of square footage of the gross building area of the Building that i) is occupied by Tenant from and after the date of such occupancy, and/or ii) is available for Tenant’s occupancy hereunder on December 1, 2019 and thereafter. Tenant shall also continue to pay monthly Interim Rent in the amount of $10,000.00 per month until the earlier of the date that Tenant occupies 25% of the gross building area of the Building or December 1, 2019. Provided, that from and after December 1, 2019, Tenant shall pay an annual amount and rate of Base Rent of $27.57 per square foot (“Alternate Rate”) for the portions of the gross building area not available for Tenant’s occupancy hereunder on December 1, 2019 and thereafter (“Unavailable Additional Area”), until further adjusted as base rent herein provided. Provided further, that as portions of the Unavailable Additional Area are thereafter constructed by Landlord and made available for Tenant’s occupancy hereunder during the one (1) year period from and after December 1, 2019, Tenant shall pay Base Rent at the Effective Rate for such additionally completed portions from and after the date or dates such additionally completed portions are made available by Landlord to Tenant for occupancy hereunder, and from and after each such date of availability the Alternative Rate of Base Rent for the portions of the Unavailable Additional Area not then completed shall continue until completed and made available for Tenant’s occupancy hereunder or until December 1, 2020, whichever first occurs. Provided further, that commencing on the date all of the Unavailable Additional Area is completed and made available for Tenant’s occupancy hereunder or December I, 2020, whichever first occurs, and thereafter, Tenant shall pay Base Rent at the Effective Rate, calculated as herein provided, for the entire 80,000 square foot gross building area of the Building. Further provided, that said Effective Rate of $49.31 for Base Rent is based and dependent upon the total budgeted project cost for the demolition and construction required hereby, exclusive of special buildout items described on Exhibit C, not exceeding $39,449,500.00 as initially calculated and budgeted by Tenant and Landlord as described on Exhibit B hereto (“initial total budgeted project cost”), and (i) in the event the total budgeted project cost, exclusive of said special buildout items, pursuant to change order or orders required by Section 6 hereof and/or other amendments and modifications to said total budgeted project cost, exceeds $39,449,500.00, or (ii) in the event Landlord constructs or provides any of the special buildout items described on Exhibit C, such Effective Rate of Base Rent shall be increased for the gross building area to which it is applicable for each year, or applicable portion thereof, by an amount per square foot equal to either (i) ten (10%) per cent of the amount by which such total budgeted project cost exceeds the initial total budgeted project cost of $39,449,500.00, or (ii) ten (10%) percent of the amount of the cost of the construction or providing of any of said special buildout items by Landlord as budgeted by Landlord from time to time, as the case may be. For example, in the event such excess total budgeted project cost, or such budgeted cost of said special buildout items, equals $800,000.00, the Effective Rate of Base Rent shall increase by $1.00 per square foot ($80,000.00 % 80,000 = $1.00) over and above the previously established Effective Rate of Base Rent, in this example, assuming the previously established Effective Rate is $49.31, resulting in an Effective Rate of Base Rent of $50.31 per square foot ($49.31 + $1.00 = $50.31) during the period from and after such adjustment. Further provided, that similar adjustments reducing the Effective Rate of Base Rent shall be made in the event the aforesaid initial total budgeted project cost, pursuant to change order or orders required by Section 6 hereof and/or other amendments and modifications to said initial total budgeted project cost, is reduced to less than $39,449,500.00, based upon deletion of material items, the budgeted cost for which is readily identifiable. Further provided, however, that if Landlord has incurred costs attributable to and in reliance upon such deleted items having been previously budgeted, Tenant shall pay such costs to Landlord pursuant to and on the terms of Landlord’s invoice to Tenant therefor. All of the aforesaid adjustments shall be made at the Commencement Date and at each date thereafter that an additional portion of the gross building area is completed and either occupied by Tenant or made available for Tenant’s occupancy hereunder as provided above, the cost of which results in an increase or decrease in the total budgeted project cost, as the case may be, and/or special buildout items are completed by Landlord and made available for Tenant’s use hereunder, as the case may be (“Adjustment Date”). Additionally provided, that for and during each of the last two (2) five (5) year periods of the initial term of this Agreement and Lease all Base Rent may be additionally modified by Landlord, not to exceed an additional increase for each such successive five (5) year period of ten (10%) per cent of the sum amount and rate of money set forth such Base Rent in Section 1.6 effect upon the expiration of this Lease, which amount the immediately preceding five (5) year period. All of such rent shall be payable to Landlord at the address shown above. One paid in monthly installment installments and shall be due and payable in advance on or before the first day of each calendar lease month succeeding hereunder, during the term hereof. The first month’s payment of such rent is due and payable to Landlord on the Commencement Date, and all required rental payments shall be made to Minnite Family, LLC, 1000 Xxxxx Xxxxxxx Xxxx, Xxxxxx, Xxxx Xxxxxxxx 00000, and shall continue to be made at this address until Landlord advises of any change of address. Provided, that in the event of the occupancy, or availability of any portions of the Building for occupancy, occurring during a lease month based upon the Commencement Date during the term of this Agreement and Lease; provided, if the Commencement Date should be a date other than Base Rent at the first day Effective Rate, for the remaining portion of a calendar such month, the monthly rental set forth above shall be prorated to the end and due on such date of that calendar monthsuch occupancy or availability, and all succeeding subsequent monthly installments of rent said Base Rent shall be due and payable in advance on or before the first day of each succeeding calendar lease month during the term remainder of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenantterm, and either Landlord Interim Rent or Tenant Base Rent at the Alternative Rate, as the case may thereafter terminate this Lease by written notice to be, shall be prorated and adjusted accordingly for the other, given on or before May 25, 1995remaining portion of such month.

Appears in 1 contract

Samples: Lease (Global Medical REIT Inc.)

Base Rent. Tenant agrees Commencing as of the Expanded Premises Commencement Date and continuing throughout the Lease Term as extended pursuant to pay monthly as base rent during the term definition of this Lease the sum of money Expiration Date set forth in Section 1.6 9.4 of the Original Summary, as modified in Clause (a) of Section 1 of this LeaseThird Amendment above, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, in accordance with the provisions of this Section 5, Base Rent for the entire Premises (i.e., the Existing Premises as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease expanded by the Expansion Space) as follows: (a) prior to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Expanded Premises to the Tenant on the Commencement Date, substantially complete Tenant shall pay to Landlord the monthly installments of Base Rent attributable to the Existing Premises, at the applicable rate set forth in Section 10 of the Original Summary (as modified by Clause (b) of Section 1 of this Third Amendment above) and ready (b) commencing on the Expanded Space Commencement Date, and continuing thereafter until the Lease Expiration Date set forth in Clause (a) of Section 1 of this Third Amendment above, Tenant shall pay the monthly installments of Base Rent in the amounts set forth in Section 10 of the Original Summary as modified by Clause (b) of Section 1 of this Third Amendment above (with any partial month of Base Rent for the Existing Premises and the Existing Premises as expanded by the Expansion Space for the calendar month in which the Expanded Premises Commencement Date occurs to be prorated, if at all, in accordance with Section 3.1 of the Original Lease). Tenant's occupancy’s abatement of Base Rent for months 29 and 30 of the initial Lease Term of the Lease (as set forth in Section 9 of the Original Summary and without regard to the Second Amendment or this Third Amendment) shall apply to Base Rent payable for the Existing Premises only during such months, regardless of whether the Expanded Premises Commencement Date occurs prior to the 29th month of the Lease Term (as set forth in Section 9 of the Original Summary and without regard to the Second Amendment or this Third Amendment). Landlord and tenant hereby agree that the rent abatement contained in Section 3.2 of the Original Lease shall not apply to the Expansion Space, and that the amortization of abated rent shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall modified by the expiration extension of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure Lease Term pursuant to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Third Amendment.

Appears in 1 contract

Samples: Lease (GenMark Diagnostics, Inc.)

Base Rent. Tenant agrees shall pay to pay monthly Landlord, at Landlord's Address for Payment of Rent designated in the Basic Lease Information, or at such other address as base rent during Landlord may from time to time designate in writing to Tenant for the term payment of this Lease Rent, the sum of money set forth Base Rent, without notice, demand, offset or deduction (except as otherwise provided herein), in Section 1.6 of this Leaseadvance, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the term Term commencing on the Rent Commencement Date. Upon the execution of this Lease; provided, if Tenant shall pay to Landlord the Base Rent due for the first full calendar month during the Term after the Rent Commencement Date should be and any abatement period. If the Rent Commencement Date occurs on a date other than the first day of a calendar month or the Term ends on a date other than the last day of a month, the monthly rental set forth above Base Rent shall be prorated on the basis of a thirty (30) day month. [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 14 Notwithstanding anything to the end contrary contained herein and provided that Tenant faithfully performs all of that calendar month, the terms and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term conditions of this Lease, Landlord hereby agrees to abaxx Xxnant's obligation to pay monthly Base Rent for the first (1st) full month of the initial Lease Term. During such abatement period, Tenant shall pay, as additional rent, still be responsible for the payment of all of its other sums due monetary obligations under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than including Tenant's default), cannot deliver possession Percentage Share of the Premises to the Tenant on the Commencement Date, substantially complete Operating Expenses and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the PremisesReal Estate Taxes. In the event Landlordof a default by Tenant under the terms of this Lease that results in early termination pursuant to the provisions of Section 16.3 of this Lease, despite due diligence, is unable to secure then as a building permit by May 15, 1995part of the recovery set forth in such Section 16.3 of this Lease, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice be entitled to the other, given on or before May 25, 1995recovery of the monthly Base Rent that was abated under the provisions of this Section 4.1.

Appears in 1 contract

Samples: Office Lease (Allos Therapeutics)

Base Rent. Section 4: It is hereby acknowledged and agreed that Base Rent was paid in the amount and manner provided in the initial lease through October, 2014, and that it was agreed by the parties that commencing November 2014 and thereafter that Tenant agrees would pay Base Rent calculated in an annual amount and rate equal to pay monthly ten (10%) percent of the amounts budgeted as base rent during reflected on Exhibit B and amendments to Exhibit B from time to time pursuant to change orders also referenced on Exhibit B and amendments thereto from time to time as additional portions of the Building space was constructed and completed by Landlord and made available by Landlord to Tenant for occupancy, for each year, or portion of each year on a prorated basis, for the remainder of the first five (5) years of the initial term of this Lease. It is further acknowledged and agreed that payment of Base Rent for the term of this Lease through March 31, 2016 is reflected on Exhibit A-l, and that such Base Rent has been calculated and paid in the sum manner described above incorporating agreed change orders 1 through 8, but that additional Base Rent attributable to agreed change order 9 incorporated in the calculation of money set forth in Section 1.6 Base Rent for the months of January, February and March 2016 has not been paid, and that, upon execution of this Amended Lease, which Tenant shall execute amended Exhibit B, “effective 12-8-15,” incorporating agreed change order 9, and that such additional Base Rent in the amount of $10,491.00 shall be payable paid by Tenant to Landlord at with the address shown abovepayment of the Base Rent for April 2016. One It is further acknowledged and agreed that all construction by Landlord as herein defined has been completed, the entirety of the Demised Premises made available to Tenant in the manner herein provided as of March 31, 2016, and upon the execution of this Amended Lease the parties shall execute amended Exhibit B, “effective 3-31-16,” incorporating agreed change order 10 in the calculation of Base Rent, and that commencing April 1, 2016, and for the remainder of the first five (5) years of the initial term of this Lease the Base Rent shall be an annual amount of $2,474,644.00 per year, payable in monthly installment installments of $206,220.00 each, commencing April 1, 2016 and on the first day of each month thereafter until and unless further modified. It is further agreed that copies of Exhibit B attached to the initial lease and copies of all amended Exhibits B shall be, and are, attached hereto and referenced herein collectively as “Exhibit B.” For and during each of the remaining two (2) five (5) year periods of the initial term of this Lease all Base Rent for all purposes may be modified by Landlord, not to exceed an increase for each such successive five (5) year period of ten (10%) per cent of the amount and rate of such Base Rent in effect upon the expiration of the immediately preceding five (5) year period. All such Base Rent shall be paid in equal monthly installments and shall be due and payable in advance on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly hereof. All required rental set forth above payments shall be prorated made to the end of that calendar monthBelpre IV, LLC, 1000 Xxxxx Xxxxxxx Xxxx, Xxxxxx, Xxxx Xxxxxxxx 00000, and all succeeding installments of rent shall continue to be payable on or before the first day of each succeeding calendar month during the term of made at this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated address until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City advises of Arden Hills, which Landlord shall diligently pursue, (except by reason any change of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995address.

Appears in 1 contract

Samples: Lease (Global Medical REIT Inc.)

Base Rent. The Tenant agrees to pay monthly pay, as base rent during the term of Base Rent for this Lease and use of the sum Premises, as they are from time to time constituted, commencing on the Interim Rent Commencement Date or the Rent Commencement Date, as the case may be, and continuing through the Initial Term as provided under Section 3.01 hereinabove, an amount per square feet of money Rentable Area of the Premises based upon the annual rental rates specified below, multiplied by the Rentable Area of the Premises, and applied to the specific time periods specified below (the “Base Rent”). The annual rental rates set forth below shall apply to the Initial Premises (as constituted on the Effective Date) and shall commence on the Term Commencement Date, except with respect to Interim Rent. Any space added to the Premises, as may occur from time to time pursuant to Article III hereinabove, shall bear annual rental rates as stated in Section 1.6 such Article III. Amount of this LeaseAnnual rental Lease Months Rate for Initial Premises Months 1 — 12 [**REDACTED**] Months 13 — 24 [**REDACTED**] Months 25 — 36 [**REDACTED**] Months 37 — 48 [**REDACTED**] Months 49 — 60 [**REDACTED**] Months 61 — 72 [**REDACTED**] Months 73 — 84 [**REDACTED**] Months 85 — 96 [**REDACTED**] Months 97 — 108 [**REDACTED**] Months 109 — 120 [**REDACTED**] Months 121 — 132 [**REDACTED**] All rental rates are full service (except as set forth herein) rates that include parking (with respect to the Initial Premises) for the Tenant as described herein and are shown without regard to the applicable Additional Rent and without regard to all required Sales Taxes (as defined hereinbelow) on all charges deemed as rents under Florida law in effect from time to time. All monthly periods show the monthly intervals computed from the Term Commencement Date. By way of example without limitation, which amount if the Term Commencement Date were January 1, 2012, then no Base Rent shall be payable to Landlord at due for the address shown abovemonths of January 2012 through December 2012. One monthly installment Interim Rent shall be due and payable in advance from the Interim Rent Commencement Date through the Term Commencement Date, at which time the twelve (12) month Rent abatement period aforesaid shall be in effect. At the end of such twelve (12) month period, the Rent Commencement Date shall occur as described in Section 1.01(iii). All Interim Rent (including without limitation Interim Rents attributable to a Tenant Delay, if applicable), shall be due and payable in accordance with the terms of this Lease, including the Work Letter. Further, the Tenant shall pay in advance on or before the Term Commencement Date, the Rent due for the Initial Partial Month, if any, which shall equal a prorata portion (based on a per diem 365-day/year basis) of the amount of the monthly Base Rent due for the first day of each calendar the thirteenth (13th) month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, Initial Term as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995specified hereinabove.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (EverBank Financial Corp)

Base Rent. Tenant agrees Sublessee shall pay to pay monthly Sublessor the following amounts annually as base rent during (the term "Base Rent"): ---------------------------------------------------------- --------------------------- Dates Base Rent ---------------------------------------------------------- --------------------------- Commencement Date until September 8, 2006 (the end of this Lease $ 483,500.16 per year the sum 8th lease year under the Prime Lease) ---------------------------------------------------------- --------------------------- From September 9, 2006 (the beginning of money set forth in Section 1.6 the 9th lease $ 515,198.16 per year year) until Expiration Date ---------------------------------------------------------- --------------------------- In addition, Sublessee shall pay as additional rent hereunder ("Additional Rent") Sublessee's Share (as hereinafter defined) of this amounts from time to time payable by Sublessor as "Tenant" as Additional Rent under the Prime Lease, which amount including without limitation amounts for Real Estate Tax Escalation, Operating Cost Escalation and Park Common Expenses, in each case as defined in the Prime Lease. "Sublessee's Share" is 51.52% of what Sublessor is obligated to pay for such costs. Because Sublessor pays 35.22% of such costs ("Tenant's Proportionate Share" in the Prime Lease), Sublessee is required to pay 18.15% of the total of such costs under the Prime Lease. In addition, either (a) Sublessee shall pay as Additional Rent an allocation of amounts due for payment for electricity, water, gas, HVAC and other utility charges with respect to the Subleased Premises as equitably determined by Sublessor and Sublessee or (b) at Sublessor's election, the Subleased Premises shall be payable separately metered at Sublessor's sole cost and expense and Sublessee shall pay all utility charges directly to Landlord at the address shown aboveutility providers. One monthly installment Base Rent shall be due and payable in equal monthly installments in advance on or the date that is five (5) days before the first day of each calendar month succeeding without demand, deduction, offset or abatement, at the Commencement Date during the term address of this Lease; providedSublessor, if the Commencement Date should be a date or at such other than the first day of a calendar month, the monthly rental set forth above place as Sublessor may designate. Base Rent shall be prorated pro rated for any partial month. Sublessee shall pay monthly estimates of Operating Cost Escalation. Real Estate Tax Escalation and Park Common Expenses, as applicable from time to time, on the end of date that calendar month, and all succeeding installments of rent shall be payable on or before is five days prior to the first day of each succeeding calendar month during the term of this Leasemonth. Tenant Sublessee shall pay, as additional rent, pay all other sums due under this Lease. Notwithstanding anything in this Lease Additional Rent to the contrary, if Landlord, for any reason whatsoever Sublessor not less than five (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i5) September 1, 1995, or (ii) the date one hundred twenty (120) business days after Landlord secures a building permit demand from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Sublessor.

Appears in 1 contract

Samples: Sublease (Antigenics Inc /De/)

Base Rent. Tenant agrees to pay monthly shall pay, without offset, demand or counterclaim, as base rent during (hereafter referred to as the term "Base Rent") for each Lease Year the sums identified on the attached Exhibit C, Rent Schedule. In the event that the total rentable area of this Lease the sum Building changes in the process of money obtaining approval of the Amended Site Plan, or is otherwise determined to be different from the square footage set forth in Section 1.6 Paragraph 1 hereof in accordance with the procedure set forth therein, Landlord shall prepare an Amended and Restated Rent Schedule based upon the actual rentable square footage of the Building as determined in accordance with Paragraph 1 hereof. Tenant hereby agrees to execute such Amended and Restated Rent Schedule, or to provide Landlord with written notice of its objections thereto, within seven (7) calendar days of its presentation by Landlord, time being of the essence. Should Tenant fail to do so, the Amended and Restated Rent Schedule shall conclusively be deemed approved by Tenant. Should Tenant timely object to the Amended and Restated Rent Schedule by written notice to Landlord served in accordance with the provisions hereof, Landlord will evaluate Tenant's objections and determine, in the exercise of its discretion, whether any change in the Amended and Restated Rent Schedule is warranted; Landlord's determination in this Leaseregard, which amount shall be binding upon Tenant, provided such determination is made in good faith. The monthly installments shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable in advance on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar every month during the term Term at the office of TransDulles Center, Inc., c/o The Xxxx Xxxxxxx Company, 0000 Xxxxxxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxxx 00000, or by wire transfer routed to: Fleet Bank, Boston, Massachusetts, ABA # 000000000, Account Name: TransDulles Center, Inc., Account Number: 9427834304, or at such other place as Landlord may hereafter designate in writing, except that the first such installment, in the amount of Ninety Thousand Nine Hundred Ninety One Dollars and Fifty Cents ($90,991.51), shall be due contemporaneously with the execution of this Lease. Tenant shall payRent checks are to be made payable to TransDulles Center, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995Inc., or (ii) the date one hundred twenty (120) days after such other person, firm or corporation as Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, may hereafter designate in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995writing.

Appears in 1 contract

Samples: Confidentiality Agreement (Homegrocer Com Inc)

Base Rent. Tenant agrees Lessee shall pay to pay Lessor as Base Rent for the Premises the annual sum specified in Article I, Paragraph 1.01 of the Basic Lease Provisions, payable in consecutive monthly as base rent during the term of this Lease the sum of money set forth installments, in Section 1.6 of this Leaseadvance, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each and every calendar month succeeding the Commencement Date during the term of this LeaseLease without demand, notice or offset; provided, however, that if the Commencement Date should shall be a date day other than the first day of a calendar month, the monthly rental set forth above Base Rent installment for such first fractional month shall be prorated on the basis of the number of days during the month this Lease was in effect in relation to the total number of days in such month. The Initial Base Rent herein is acknowledged to be based on the estimated Rentable Square Feet of the Premises and shall be confirmed in the Acceptance of Premises Amendment after the construction of the Premises. The Prepaid Rent as specified in Article I, Paragraph 1.01, shall be applied towards the first monthly installment of the Base Rent. Lessee's Initial Net Rent Base as specified in Article I, Paragraph 1.01, Item D of the Basic Lease Provisions is subject to annual adjustments at the end of that calendar montheach Lease Year (as hereinafter defined) to reflect a two percent (2%) increase. Commencing the second Lease Year, and all Lessee shall pay as additional rent to Lessor an amount determined by multiplying the Net Rent by 1.02. The resulting Net Rent amount, plus the Operating Expense Stop, will be the Base Rent for the second Lease Year. For each Lease Year thereafter, the Net Rent computation will be the same. As used in this Paragraph, the term "Lease Year" shall mean each succeeding installments of rent shall be payable on or before twelve months commencing with the first day of each succeeding calendar month during the initial term of this Lease. Tenant shall payhereof; provided, as additional renthowever, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by date on which the later of: (i) September 1Lease term commences is other than the first day of the calendar month, 1995, or (ii) then the first Lease Year shall commence on the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy month following the commencement of the Premises. In Lease term and end on the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to last day of the other, given on or before May 25, 1995twelfth full calendar month occurring thereafter.

Appears in 1 contract

Samples: Attornment Agreement (High Speed Access Corp)

Base Rent. Tenant Subtenant covenants and agrees to pay Sublandlord Base Rent in advance, without demand, set off or deduction, except as expressly provided for herein, in equal monthly as base rent during the term of this Lease the sum of money set forth in Section 1.6 of this Leaseinstallments, which amount shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding every calendar month during the term Sublease Term, monthly base rent (“Base Rent”) as follows: Period Monthly Rate/RSF Monthly Base Rent SCD – 12/30/2022 $ 1.20 $ 20,400.00 Notwithstanding the foregoing Base Rent schedule, Subtenant shall be entitled to an abatement of Base Rent during the period commencing on the Sublease Commencement Date and expiring on May 31, 2021 (the “Abatement Period”), in the amount of $20,400.00 per month (collectively, the “Abatement”). In the event of a monetary default by Subtenant under this Lease. Tenant shall pay, as additional rent, all Sublease in the form of a failure to pay Base Rent or any other sums amounts due under this LeaseSublease 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. Notwithstanding anything 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 Lease 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 the contrary, as “Rent.” Subtenant hereby acknowledges that if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession monthly payment of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease Rent or any monies due hereunder from Subtenant shall not be void or voidablereceived by Sublandlord within fifteen (15) days after such payment is due, nor then Subtenant shall Landlord be liable for any loss or damage resulting therefrom, nor 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 term notice and cure period set forth in Article X of this Sublease, Subtenant shall also be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if responsible for the Premises are not substantially complete and ready for Tenant's occupancy by payment of interest on such outstanding amount charged at the later of: lesser of (i) September 1, 1995the rate of ten percent (10%) per annum, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from maximum rate permissible by law. Base Rent for any partial months during the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date Sublease Term shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995prorated.

Appears in 1 contract

Samples: Office Sublease (Project Angel Parent, LLC)

Base Rent. Tenant agrees to pay monthly as base rent Base Rent during the term of this Lease the sum of money set forth in Section 1.6 1.5 of this Lease, which amount shall will be payable to Landlord at the address shown above. One monthly installment Monthly installments of Base Rent shall be due and payable payable, in advance, on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, Lease- provided that if the Commencement Commencement-Date should be a date other than the first day of a calendar month, the monthly rental set forth above Base Rent shall be prorated on a daily basis to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term Commencement Date of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Based on Tenant's default), cannot deliver possession approval of the floor plan as depicted in EXHIBIT C by March 17, 1997, the Landlord agrees that upon Landlord's receipt of a building permit allowing it to construct the Building, Landlord will promptly commence construction of the Building and Premises and shall diligently pursue construction thereof in order to have the Tenant Building and the Premises substantially complete on the Commencement Date. For the purposes of this provision, substantially complete shall mean that the Building and ready for Premises are substantially completed in accordance with the approved construction documents and the requirements of the City of Arden Hills, subject only to punchlist and minor completion items that will not prevent Tenant from occupying and commencing operations within the Premises, which punchlist and minor completion items Landlord agrees to promptly complete. If, prior to June 15, 1997, Landlord determines that it will not be able to deliver the Building and Premises to Tenant in the condition required by the Commencement Date, Landlord shall notify Tenant, in writing, on or before June 15, 1997, and the Commencement Date shall be extended to the actual substantial completion date. In such event, Landlord shall provide Tenant with not less than forty-five (45) days prior written notice of the anticipated substantial completion date. If, subject to force majeure or Tenant caused delays (including Tenant's occupancyfailure to approve the floor plan by March 17, this Lease shall not be void or voidable1997), nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent Building and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)1997, Landlord shall pay to Tenant, as a credit against the first installments installment of rent Base Rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Building and the Premises are substantially complete and ready for Tenant's occupancy; . If, subject to force majeure or Tenant caused delays (including Tenant's failure to approve the floor plan by March 1, 1997), the Building and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October by November 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)1997, Tenant shall have the option, in its absolute and unfettered discretion, option to terminate this Lease by written notice to Landlord given at any time after November 1, 1997 and prior to substantial completion of the Premises Building and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 1 contract

Samples: Lease Terms (Fair Isaac & Company Inc)

Base Rent. (i) Landlord and Tenant agrees to pay monthly as have established for calendar year 1998 an initial annual base rent ("Base Rent") equal to Twenty-One Dollars ($21.00) per rentable square foot, which for each floor of the Premises (excluding the Garage and Crossover Space) totals to the figure set forth in Column E of Exhibit B, which Base Rent shall be payable in equal monthly installments commencing on the Rent Commencement Date for each floor and ending on December 31, 1998, which monthly installments shall be as specified with respect to each floor of the Premises in Column F of Exhibit B, subject to the further provisions hereof. (ii) Base Rent as set forth in Column E of Exhibit B for each floor (excluding the Garage and Crossover Space) shall be adjusted one time, subject to Section 3(b)(iii) below, which adjustment shall occur following the end of calendar year 1998 in accordance with the following provisions: (A) With reasonable promptness following the end of calendar year 1998, Landlord shall deliver to Tenant a Landlord's Statement (as hereinafter defined) setting forth Landlord's determination of the actual component costs during the term 1998 calendar year for each item of the services set forth on Exhibit E (the "Standard Building Services"). Landlord shall then determine the cost attributable to each floor of the Premises (the "Standard Cost Per Premises Floor") for the provision of such Standard Building Services, which determination shall include an allocation of such costs in accordance with Section 3(c)(vi) below. Landlord shall then determine the cost attributable per rentable square foot (the "Standard Cost Per Rentable Square Foot") for each of the floors two through the Penthouse of the Premises for the provision of such Standard Building Services, by dividing the Standard Cost Per Premises Floor for each floor by the number of rentable square feet comprising such floor as set forth in Column D of Exhibit B. Landlord's determination of the actual component costs during 1998, the adjustments to Base Rent referred to in clause (B) following, and in Section 3(b)(iii) shall be subject to review and audit by Tenant in accordance with Section 3(c)(iv). (B) The Base Rent shall be adjusted with respect to each floor of the Premises (excluding the Garage and Crossover Space), effective from the Rent Commencement Date for such floor through the end of the Term of this Lease with respect to such floor, to be equal to the sum product of money (I) Thirty-One Dollars ($31.00) less the Standard Cost Per Rentable Square Foot for such floor multiplied by (II) the number of rentable square feet contained in such floor (as specified in Column D of Exhibit B). The Base Rent as so adjusted shall be payable in equal calendar monthly installments. In the event that, based on such adjustment of Base Rent, Tenant has underpaid Base Rent for the period preceding such adjustment, Tenant shall pay to Landlord the amount of such shortfall within thirty (30) days of receiving written notification from Landlord of such adjustment of Base Rent, which notification shall include a Landlord's Statement and reasonable documentation setting forth the basis of such determination. In the event that, based on such adjustment of Base Rent, Tenant has overpaid Base Rent for the period preceding the adjustment of Base Rent, Landlord shall credit the amount of such overpayment to Base Rent next becoming due. Until such adjustment is made by Landlord and Landlord notifies Tenant thereof, Tenant shall continue to pay Landlord the amount of the initial monthly Base Rent as set forth in Section 1.6 3(b)(i) above. Annexed as Exhibit F are examples of the application of the adjustments described in this Section 3(b)(ii) and in Section 3(b)(iii). (iii) The Base Rent as adjusted pursuant to Section 3(b)(ii) above shall constitute the Base Rent for the balance of the Term of this Lease, which amount shall be payable subject to Landlord at further adjustment based on receipt of information received after the address shown above. One monthly installment shall be due adjustment date with respect to any increase in Real Estate Taxes assessed on the basis of Landlord's Work and payable on or before the first day of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated Tenant's Initial Improvements (up to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession amount of the Premises to Tenant Improvement Allowance (as defined in the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: Work Letter). (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenantc), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 1 contract

Samples: Schwab Charles Corp

Base Rent. Tenant agrees shall pay the Base Rent to pay monthly as base rent during Landlord in accordance with the term of this Lease the sum of money 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 1.6 3.4 below, Tenant’s Proportionate Share of this Lease, which amount shall be payable to Landlord at the address shown above. One Basic Operating Costs) in monthly installment shall be due and payable installments on or before the first day of each calendar month succeeding the Commencement Date during the term Term and any extensions or renewals thereof, in advance without demand and without any reduction, abatement, counterclaim or setoff, in lawful money of this Lease; provided, if the Commencement Date should United States at Landlord’s address specified on the Basic Lease Information sheet or at such other address as may be a date 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 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 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 monthly rental set forth above Net Rent provided for such partial month shall be prorated to based upon a thirty (30)-day month and the end of that calendar month, and all succeeding installments of rent prorated installment shall be payable paid on the first day of the calendar month in 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 succeeding calendar month during the term of this Lease. such Computation Year, Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease pay to the contrary, if Landlord one-twelfth (1/12th) of Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession ’s estimate of the Premises amount payable by Tenant under Section 3.4(a) as set forth in Landlord’s written notice to Tenant. During the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void last month of each Computation Year (or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenantas 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 following Computation Year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amount, provided that if Landlord fails to give such notice in the last month of the prior year, then Tenant shall continue to pay on the basis of the prior year’s estimate until the first day of the calendar month next succeeding the date such notice is given by Landlord; and from the first day of the calendar month following the date such notice is given, Tenant’s payments shall be adjusted so that the estimated amount for that Computation Year will be fully paid by the end of that Computation Year. If at any time or times Landlord determines that the amount payable under Section 3.4(a) for the current Computation Year will vary from its estimate given to Tenant, as a credit against the first installments of rent and additional rent payable hereunderLandlord, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, may revise its estimate for such Computation Year, and either Landlord or subsequent payments by Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995for such Computation Year shall be based upon such revised estimate.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Exar Corp)

Base Rent. Tenant agrees shall deliver to pay monthly as base rent during the term Landlord, concurrent with Txxxxx’s delivery of an executed copy of this Lease to Landlord, the sum Base Rent due for the calendar month in which the day immediately following the expiration of money set forth the Subsequent Abatement Period occurs (or, if such date does not occur on the first day of a calendar month, Base Rent for the first full calendar month following the date in Section 1.6 which the day immediately following the expiration of this Lease, which amount the Subsequent Abatement Period occurs). Tenant shall be payable pay to Landlord at the address shown above. One in advance, without demand, abatement, deduction or set-off, monthly installment shall be due and payable installments of Base Rent on or before the first day of each calendar month succeeding the Commencement Date during the term Term hereof after the expiration of DOCVARIABLE #DNDocID \* MERGEFORMAT 758013178.6 Net Multi-Tenant Laboratory 800 Xxxxxxxxxx Xxxx – Xxxxx 000/Xxxxx Tx - Page 4 the Subsequent Abatement Period, in lawful currency of the United States of America, to 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 Lease; providedSection 3(a) must include a reference to ARE-San Francisco No. 63, LLC as well as the address of the Building (i.e., 800 Xxxxxxxxxx Xx.). Payments of Base Rent for any fractional calendar month shall be prorated. Notwithstanding anything to the contrary contained herein, if the Commencement Date should be expiration of the Subsequent Abatement Period occurs on a date day other than the first day of a calendar month, then Tenant shall pay to Landlord the monthly rental set forth above prorated Base Rent for such partial month on the day immediately following the expiration of the Subsequent Abatement Period and the prepaid Base Rent delivered by Tenant pursuant to this first sentence of this Section 3(a) shall be prorated applied to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding full calendar month during following the term 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 LeaseLease are independent obligations. Tenant shall payhave no right at any time to axxxx, reduce, or set-off any Rent (as additional rent, all other sums defined in Section 5) due under hereunder except for any abatement as may be expressly provided in this Lease. Notwithstanding anything in this Lease to the contrarycontrary contained herein, if Landlordso long as Tenant is not then in Default under this Lease, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor required to pay Base Rent for the period commencing on the Rent Commencement Date through the date that is 365 days after the Rent Commencement Date (the “Subsequent Abatement Period”). Tenant shall Landlord be liable for any loss or damage resulting therefrom, nor shall commence paying full Base Rent on the day immediately following the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if Subsequent Abatement Period. For the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City avoidance of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant)doubt, Tenant shall have be required to pay Operating Expenses and all other amounts payable under the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of during the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995Subsequent Abatement Period.

Appears in 1 contract

Samples: Lease Agreement (CARGO Therapeutics, Inc.)

Base Rent. Tenant agrees to shall pay monthly as base rent during Base Rent in the term of this Lease the sum of money amount set forth in Section 1.6 of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment The Security Deposit shall be due and payable on the date hereof, and the first month's Base Rent and the first monthly installment of estimated Additional Rent for Common Area Land shall be due and payable on the Rent Commencement Date. Tenant promises to pay to Landlord in advance, without demand, deduction or set-off (except as expressly provided in this Lease), monthly installments of Base Rent on or before the first day of each calendar month succeeding the Rent Commencement Date during Date. Payments of Base Rent for any fractional calendar month shall be appropriately prorated. All payments required to be made by Tenant to Landlord hereunder shall be payable at such address in the term United States as Landlord may specify from time to time by written notice delivered in accordance herewith. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to xxxxx, reduce or set-off any rent due hereunder except as may be expressly provided in this Lease; provided. Within ten (10) days after the Substantial Completion of the Building Shell (as defined in Addendum 2), if Landlord, at Landlord's cost and expense, shall have Landlord's project architect measure the Commencement Date should square footage of the Building from dripline to dripline on each side of the exterior of the outer walls of the Building. If the measured square footage of the Building (as finally determined under this paragraph) is less than 600,000 square feet, then this Lease shall be a date other than amended to reflect the first day actual measured square footage of a calendar monththe Building, the monthly rental Base Rent under the Lease shall be reduced (both retroactively and for the remainder of the Lease Term) by $3.48 per year for each square foot by which the Building is less than 600,000 square feet, and Tenant's Project Proportionate Share and Additional Rent for the Common Area Land shall be adjusted accordingly (both retroactively and for the remainder of the Lease Term). Within 5 days after Landlord's architect determines the square footage of the Building in accordance with the method contained in the first sentence of this paragraph, Landlord shall cause Landlord's project architect to certify to Landlord and Tenant in writing such determination of the square footage of the Building. Tenant's architect may review such certification and if Tenant's architect disputes such measurement, then Landlord's project architect and Tenant's architect shall use good faith efforts to try and resolve the dispute over the measurement. In connection therewith, Tenant's architect shall have the right to measure the Building in accordance with the method of measurement set forth above in the first sentence of this paragraph. If the two architects are unable to resolve the dispute over the measurement within 15 days, then the two architects shall choose a third architect who is impartial and independent and the third architect shall measure the total square footage of the Building in accordance with the terms of this paragraph and the third architect's measurement of the square footage of the Building shall be prorated to final and binding on both Landlord and Tenant. If the end measured square footage of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, Building (as additional rent, all other sums due finally determined under this Lease. Notwithstanding anything in this Lease paragraph) is equal to or greater than 600,000 square feet, then the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void amended or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995modified.

Appears in 1 contract

Samples: Lease Agreement (Barnesandnoble Com Inc)

Base Rent. Tenant agrees to pay monthly as The base rent during under the Direct Lease for the first year of the five-year term of this Lease subject to the sum of money set forth in Section 1.6 of this Lease, which amount First Extension Option (the "First Extension Term") shall be payable to Landlord at the address shown above. One monthly installment shall be due and payable on or before the first day greater of each calendar month succeeding the Commencement Date during the term of this Lease; provided, if the Commencement Date should be a date other than the first day of a calendar month, the monthly rental set forth above shall be prorated to the end of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the term of this Lease. Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease to the contrary, if Landlord, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises to the Tenant on the Commencement Date, substantially complete and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for any loss or damage resulting therefrom, nor shall the expiration of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995the base rent paid by Sublandlord under Year 5 of the Lease, or (ii) the date one hundred twenty "Market Rent," which shall mean the rate per square foot of rentable area then being paid for comparable facilities in Leominster, Massachusetts, taking into consideration market rents, the term of the Lease, the treatment of operating expenses, the absence of broker commissions, and the amount or lack of a tenant improvement allowance, as the case may be. In years 2, 3, 4 and 5 of the First Extension Term, the base rent shall be subject to an annual consumer price index adjustment equal to the annual percentage increase in the "Price Index" as defined in Section 4.1(B)(i) of the Lease. If Prime Landlord and Subtenant are unable to agree upon the base rent within sixty days of the exercise of the option (120the "Rent Negotiation Deadline"), the Market Rent shall be determined by an appraisal process, as follows. Each party shall choose a "Qualified Appraiser" (defined as "an independent, licensed and accredited member of the "Association" (defined below)) who shall determine the appropriate "Market Rent" on its behalf and submit the same to the other Qualified Appraiser (together with the information forming the basis for such determination) within thirty (30) days after Landlord secures the Rent Negotiation Deadline (with each party paying the fee of its own appraiser). If the two Qualified Appraisers do not agree on the Market Rent within fifteen (15) days thereafter, then the two Qualified Appraisers shall promptly jointly select a building permit from third Qualified Appraiser. If the City two Qualified Appraisers cannot agree on the identify of Arden Hillsthe third Qualified Appraiser within five (5) days, which Landlord then the third Qualified Appraiser shall diligently pursuebe selected by the most senior officer of the Association (defined as the Leominster chapter of the American Institute of Real Estate Appraisers or its successor, or if there shall be no successor, a professional organization having a function, standards and qualifications similar thereto). Within thirty (except by reason 30) days after his appointment, the third Qualified Appraiser shall select one of force majeure or Tenant caused delays, including failure to approve plans and specifications the two initially submitted appraisals as the Market Rent applicable for the Premises by April 12First Extension Term, 1995, in which case and such date selection shall be extended by binding upon the number of days equal to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995parties.

Appears in 1 contract

Samples: Prime Landlord, Tenant and Subtenant Agreement (Dt Industries Inc)

Base Rent. Tenant agrees to pay monthly Base Rent payable for the first full calendar month immediately following the Building 3 Premises Abatement Period (as base rent during defined below) and the term of this Lease the sum of money set forth in Section 1.6 of this Lease, which amount shall be payable to Landlord at the address shown above. One monthly installment 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 first day of each calendar month succeeding during the Term hereof, in lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. 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 axxxx, 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 with respect to the Building 3 Premises only shall be abated for the period commencing on the Commencement Date during the term of this Lease; provided(or, if the Commencement Date should be a date other than does not occur DocuSign Envelope ID: FC2CC128-9822-4855-A001-C19E6B8CA968 Net Laboratory Buildings B3 and B4/Singular - Page 5 on the first day of a calendar month, the monthly rental set forth above shall be prorated to the end then as of that calendar month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding the first full calendar month during immediately following the term of 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, then as of the first day of the first full calendar month immediately following the Building 4 Premises Commencement Date) and continuing for the first 365 calendar days following the Building 4 Premises Commencement Date (the “Building 4 Premises Abatement Period”). Tenant shall pay, as additional rent, all other sums due under this Lease. Notwithstanding anything in this Lease commence paying Base Rent with respect to the contraryBuilding 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 doubt, if LandlordTenant does not exercise the Building 4 Premises Acceleration Election, for any reason whatsoever (other than Tenant's default), cannot deliver possession of the Premises then Tenant shall commence paying Base Rent with respect to the Tenant Building 4 Premises on the Building 4 Premises Commencement Date, substantially complete Date and ready for Tenant's occupancy, this Lease shall not be void or voidable, nor shall Landlord be liable for entitled any loss or damage resulting therefrom, nor shall the expiration abatement of the term be extended, but all rent and additional rent shall be abated until Landlord delivers possession; provided that if the Premises are not substantially complete and ready for Tenant's occupancy by the later of: (i) September 1, 1995, or (ii) the date one hundred twenty (120) days after Landlord secures a building permit from the City of Arden Hills, which Landlord shall diligently pursue, (except by reason of force majeure or Tenant caused delays, including failure to approve plans and specifications for the Premises by April 12, 1995, in which case such date shall be extended by the number of days equal Base Rent with respect to the delays caused by Tenant), Landlord shall pay to Tenant, as a credit against the first installments of rent and additional rent payable hereunder, an amount equal to $500.00 for each day thereafter until the Premises are substantially complete and ready for Tenant's occupancy; and provided that if the Premises are not substantially complete and ready for Tenant's occupancy on or before October 1, 1995 (except by reason of force majeure or Tenant caused delays, in which case such date shall be extended by the number of days equal to the delays caused by Tenant), Tenant shall have the option, in its absolute and unfettered discretion, to terminate this Lease by written notice to Landlord given at any time prior to substantial completion of the Premises and Tenant taking occupancy of the Building 4 Premises. In the event Landlord, despite due diligence, is unable to secure a building permit by May 15, 1995, Landlord shall so notify Tenant, and either Landlord or Tenant may thereafter terminate this Lease by written notice to the other, given on or before May 25, 1995.

Appears in 1 contract

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

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