Common use of Basic Annual Rental Clause in Contracts

Basic Annual Rental. YIELDING AND PAYING therefor unto the Lessor in lawful money for each and every year during the term hereof without deduction, set-off or abatement, basic annual rental of Thirty Three Thousand Four Hundred and Ten Dollars and Forty Cents ($33,410.40). It is understood and agreed that the basic annual rental set forth above is based on the rate of Twelve ($12.00) Dollars per square foot per annum. - On the first day of each month during the term hereof, the Lessee will pay to the Lessor in advance the Basic monthly rent of Two Thousand Seven Hundred and Eighty Four Dollars and Twenty Cents ($2,784.20), the first payment of such Basic monthly rent to be due and payable upon the commencement date. Upon the Lessor providing to the Lessee a statement of occupancy costs referred to in paragraph 11 hereof and from time to time, the Lessee shall provide to the Lessor a series of twelve (12) post-dated cheques comprising the aggregate of: a. the minimum monthly rent; and b. the monthly estimated occupancy cost charge; c. the Goods and Services Tax (GST). The Lessee shall pay to the Lessor an amount equal to all Goods and Services Taxes imposed or to be imposed by any governmental authority with respect to base rent, additional rent and other charges payable by the Lessee to the Lessor under this Lease. Such amount as may be applicable is to be paid to the Lessor by the Lessee with each payment of base rent, additional rent or other charges on the date such payment is otherwise due under this Lease, without reference to any Goods and Services Tax remitted or to be remitted by the Lessor to the governmental authority in respect thereof. The amount payable by the Lessee hereunder shall not be or be deemed to be base rent or additional rent or other charges, however, the Lessor shall have all of the same rights and remedies for recovery of the amount as it has for recovery of base rent, additional rent and other charges hereunder. In addition to the Lessor's normal rights and remedies, the Lessee shall indemnify the Lessor in respect of any claim or loss which the Lessor may suffer as a result of any default in remitting the amount to the governmental authority which arise from the Lessee's obligations including any penalties relating thereto and/or interest thereon. - For any period during which the Lessee carries on or is required to carry on business under the terms of this lease and which period is less than a month or a year, Basic rent will be payable on a per diem basis at a rate per diem which shall be one three hundred and sixty-fifth (1/365th) of the annual rent payable hereunder. - The rent for Zero (0) months of the term hereof acknowledged as being received in the amount of NIL ($0.00) has been paid by the Lessee to the Lessor upon the execution of this lease as partial consideration for the execution of this lease, and such rent shall be held by the Lessor without liability or interest, as security for the faithful performance by the Lessee of all the terms, covenants and conditions of this lease, and if at any time during the term of this lease the rent or other charges properly made by the Lessee hereunder are overdue and unpaid then the Lessor may at its option apply any portion of such security deposit toward the payment of such overdue rent or other charge without thereby limiting or excluding any other rights which the Lessor may have hereunder or at law, and if such security deposit is not so applied during the term hereof then such sum shall be applied as Basic rent for the last Zero (0) months of the term hereof.

Basic Annual Rental. YIELDING AND PAYING therefor unto the Lessor in lawful money for each and every year during the term hereof without deduction, set-off or abatement, basic annual rental of Thirty Three Four Thousand Four Five Hundred and Ten Dollars and Forty Cents Sixty ($33,410.40)34,560.00) Dollars. It is understood and agreed that the basic annual rental set forth above is based on the rate of Twelve Nine ($12.009.00) Dollars per square foot per annum. - On the first day of each month during the term hereof, the Lessee will pay to the Lessor in advance the Basic monthly rent of Two Thousand Seven Eight Hundred and Eighty Four Dollars and Twenty Cents ($2,784.20)2,880.00) Dollars, the first payment of such Basic monthly rent to be due and payable upon the commencement date. Upon the Lessor providing to the Lessee a statement of occupancy costs referred to in paragraph 11 hereof and from time to time, the Lessee shall provide to the Lessor a series of twelve (12) post-dated cheques comprising the aggregate of: a. the minimum monthly rent; and b. the monthly estimated occupancy cost charge; c. the Goods and Services Tax (GST). The Lessee shall pay to the Lessor an amount equal to all Goods and Services Taxes imposed or to be imposed by any governmental authority with respect to base rent, additional rent and other charges payable by the Lessee to the Lessor under this Lease. Such amount as may be applicable is to be paid to the Lessor by the Lessee with each payment of base rent, additional rent or other charges on the date such payment is otherwise due under this Lease, without reference to any Goods and Services Tax remitted or to be remitted by the Lessor to the governmental authority in respect thereof. The amount payable by the Lessee hereunder shall not be or be deemed to be base rent or additional rent or other charges, however, the Lessor shall have all of the same rights and remedies for recovery of the amount as it has for recovery of base rent, additional rent and other charges hereunder. In addition to the Lessor's normal rights and remedies, the Lessee shall indemnify the Lessor in respect of any claim or loss which the Lessor may suffer as a result of any default in remitting the amount to the governmental authority which arise from the Lessee's obligations including any penalties relating thereto and/or interest thereon. - For any period during which the Lessee carries on or is required to carry on business under the terms of this lease and which period is less than a month or a year, Basic rent will be payable on a per diem basis at a rate per diem which shall be one three hundred and sixty-fifth (1/365th) of the annual rent payable hereunder. - The rent for Zero the first (01st) and a portion of the last months of the term hereof acknowledged as being received in the amount of NIL Ten Thousand Nine Hundred and Sixty One Dollars and Fifty Cents ($0.0010,961.50) has been paid by the Lessee to the Lessor upon the execution of this lease as partial consideration for the execution of this lease, and such rent shall be held by the Lessor without liability or interest, as security for the faithful performance by the Lessee of all the terms, covenants and conditions of this lease, and if at any time during the term of this lease the rent or other charges properly made by the Lessee hereunder are overdue and unpaid then the Lessor may at its option apply any portion of such security deposit toward the payment of such overdue rent or other charge without thereby limiting or excluding any other rights which the Lessor may have hereunder or at law, and if such security deposit is not so applied during the term hereof then such sum shall be applied as Basic rent for the first and a portion of the last Zero (0) months of the term hereof.