Basic Rent Additional Rent Clause Samples
Basic Rent Additional Rent. (a) The Tenant shall pay to the Landlord during the Initial Term an annual basic rent (the "BASIC RENT") equal to One Dollar per annum, which Basic Rent shall be payable in advance on January 2 of each year during the Initial Term. If the Term is extended pursuant to Section 1.2(b), the Basic Rent for the first Renewal Period shall be equal to One Dollar per annum, which Basic Rent shall be payable in advance on January 2 of each year during the first Renewal Period.
(b) If the Term is extended from time to time for any Renewal Period after the first Renewal Period, as provided in Section 1.2 (b) above, the Basic Rent for such Renewal Period (the "RENEWAL RENT") shall be determined as provided in this Section 2.1(b). Upon receipt of Tenant's Renewal Notice, the Landlord and the Tenant shall attempt for thirty (30) days to agree upon the Renewal Rent, which the parties agree shall be the fair market rental value of the Demised Premises, taking into account the Personal Property, the obligation of the Tenant to pay Taxes (hereinafter defined) and other expenses allocated to the Demised Premises as provided elsewhere in this Lease. Should the Landlord and the Tenant be unable to agree on the Renewal Rent within such thirty (30) day period, the Tenant shall, at its own cost, appoint a disinterested real estate broker licensed in the State of Pennsylvania involved in the rental of similar space in the area in which the Plant is located for at least five (5) years (a "QUALIFIED BROKER") to serve as an appraiser on its behalf and shall give notice thereof to the Landlord within sixty (60) days after the Landlord's receipt of the Tenant's Renewal Notice. The Landlord shall, at its own cost, within thirty (30) days after receiving said notice appoint a second Qualified Broker to serve as appraiser on its behalf and shall give written notice thereof to the Tenant. The Qualified Brokers shall independently, within thirty (30) days after their appointment, render in writing to the Landlord and the Tenant their independent appraisals of what the annual fair market rental value of the Demised Premises would be for the applicable Renewal Period. If Landlord and the Tenant or the two (2) Qualified Brokers cannot, within thirty (30) days thereafter, agree on what the annual fair market rental value of the Demised Premises would be for the applicable Renewal Period, the two (2) Qualified Brokers theretofore appointed shall appoint a third Qualified Broker. The third Qualifi...
Basic Rent Additional Rent. 10 4.1 PAYMENT...................................................10
Basic Rent Additional Rent. During the Term, the Tenant shall pay Basic Rent to the Landlord at an annual rate of $636,000.00 in monthly installments of $53,000.00. Basic Rent shall be payable in advance on the 1st day of each month in equal installments to the Landlord at the address set forth above or such other address as the Landlord may thereafter specify by notice to the Tenant, without counterclaim, set off, deduction, abatement or defense, except as otherwise expressly provided herein. This Lease is intended by the parties hereto to be a so-called "triple net" lease and, to the end that the Basic Rent shall be received by the Landlord net of all costs and expenses related to the Premises other than as expressly set forth herein, the Tenant agrees to pay as Additional Rent, in addition to real estate taxes, insurance premiums, utility costs, costs of repairs and maintenance and other costs as specifically set forth herein, all other charges, costs, expenses, and obligations of every kind an nature whatever as may relate to this Lease or the operation or maintenance of the Premises and pro-rated expenses for operation of Oak Park except as otherwise expressly agreed in this Lease, including reasonable attorneys' fees incurred in the reasonable enforcement of rights in pursuit of the remedies of the Landlord under this Lease if Landlord prevails in any such Court action. The Landlord shall in each case, at the time of demand for payment of any such Additional Rent, provide the Tenant with evidence of the liability for such other charges, costs, expenses and obligations.
Basic Rent Additional Rent. (a) The Tenant shall pre-pay through December 31, 1999 and monthly thereafter until May 31, 2000, as its basic rent during the preliminary term, a sum equal to one- half of the rent owed by Summit Bank, including increases, pursuant to a Lease between the Landlord and United Jersey Bank/Central N.A., dated November 21, 1989. Commencing June 1, 2000, the Tenant shall pay $67,056.00 per year based on $18.00 per square foot on the 3,612 gross square feet of interior space and the sum of $6.00 per square foot on the 340 gross square feet of canopy space (hereinafter referred to as "Rent" or "Basic Rent") payable in advance to Landlord in equal monthly installments on the first day of each calendar month during the term. Basic Rent for any period of less than one month shall be apportioned based on the number of days in that month. For purposes of this Lease, the term "Basic Rent" shall be deemed to be the rent paid during the initial one (1) year period of this Lease, or the rent paid in any succeeding one (1) year period as the same may be hereinafter adjusted in accordance with subparagraph (b)(i) below. Commencing June 1, 2001, the rent shall be increased to $19.00 per square foot of interior space and $6.33 per square foot of canopy space. Upon termination, the Landlord shall keep all monies paid during the preliminary term and neither party shall have any further liability to the other.
(b) Tenant agrees to pay to Landlord during each successive one (1) year period of the Initial Term of this Lease (and for each year of any renewal term if Tenant exercises its option to extend the Initial Term as set forth in Paragraph 24 of this Lease) Basic Rent as provided in subparagraph (a) for the immediately preceding one (1) year period, all additional rent and any other impositions or charges due under this Lease, plus an adjustment in the Basic Rent equal to four (4%) percent of Basic Rent.
(c) Tenant shall pay Basic Rent and any additional rent ("Additional Rent") as hereinafter provided to Landlord at Landlord's above stated address of or at such other place as Landlord may designate in writing, without demand and without any abatement, counterclaim, deduction or setoff whatsoever except as provided herein, (Basic Rent and Additional Rent are sometimes hereinafter collectively referred to as "Rent") Any demand, voucher or invoice from Landlord to Tenant for the payment of Additional Rent claimed to be due from Tenant under the terms of this Lease shall include...
Basic Rent Additional Rent. Section 3.1 Commencing upon occupancy of the demised premises, the TENANT shall pay to the LANDLORD an Annual Basic Rent of Eighty Nine Thousand Five Hundred Fifty Five Dollars and Thirty Two Cents ($89,555.32) at the address or the LANDLORD in equal monthly installments of Seven Thousand Four Hundred Sixty Two Dollars and Ninety Four Cents ($7,462.94) in advance of or on the first day of each month without notice and demand and without abatement, deduction or set-off of any amount whatsoever. The tractional rent, it any, from the rent commencement date (as above provided) to the date of the first day of the following month shall be paid by the TENANT to the LANDLORD within five (5) days after the rent commencement date. The LANDLORD acknowledges receipt of Seven Thousand Nine Hundred Twelve Dollars and Seventy Four Cents ($7,912.74), representing the rent for the first full month for which rent is due hereunder.
Section 3.2 In addition to the Basic Annual Rent, TENANT shall pay to LANDLORD amounts for increases in Taxes, and other charges as hereinafter defined and explained ("Additional Rent"). All amounts of Additional Rent shall be payable as provided in this lease to LANDLORD at LANDLORD's office or such other place or agent as LANDLORD may designate by notice to TENANT. LANDLORD shall have the same remedies for nonpayment of Additional Rent as a default in Basic Annual Rent.
Basic Rent Additional Rent. 3 8. TAXES.................................................................... 6
Basic Rent Additional Rent. Effective with the Commencement Date, and for the first five (5) years of the term of this Lease as defined by (S)4 above (except as provided for in the fourth paragraph of this section), the Tenant shall pay to the Landlord as Basic Rent, the sum of Nine Hundred Seventy Three Thousand Thirty Two and 00/100 ($973,032.00) Dollars per year in monthly installments of Eighty One Thousand Eighty Six and 00/100 ($81,086.00) Dollars, the same calculated at the rate of Twelve and 00/100 ($12.00) Dollars per square foot for 81,086 rentable square feet of area at the Building. For years six (6) and seven (7) of the term of this Lease as defined by (S)4 above (except as provided for in the fourth paragraph of this section), the Tenant shall pay to the Landlord as Basic Rent, the sum of One Million Fifty Fourth Thousand One Hundred Eighteen and 00/100 ($1,054,118.00) Dollars per year in monthly installments of Eighty Seven Thousand Eight Hundred Forty Three and 17/100 ($87,843.17) Dollars, the same calculated at the rate of Thirteen and 00/100 ($13.00) Dollars per square foot for 81,086 rentable square feet of area at the Building.
Basic Rent Additional Rent. Section 3.1 The TENANT shall pay to the LANDLORD an Annual Basic Rent to INDUSTRIAL & RESEARCH ASSOCIATES CO. at ▇.▇. ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, in equal monthly installments in advance of or on the first day of each month without notice and demand and without abatement, deduction or set-off of any amount whatsoever as per the following schedule: TERM ANNUAL RENT MONTHLY RENT ---- ----------- ------------ Lease Year 1 $62,325.00 $5,193.75 Lease Year 2 $64,818.00 $5,401.50 Lease Year 3 $67,421.80 $5,618.48 The fractional rent, if any, from the rent commencement date (as above provided) to the date of the first day of the following month shall be paid by the TENANT to the LANDLORD within five (5) days after the rent commencement date. The LANDLORD acknowledges receipt of $5,713.13 representing the rent and electrical charges (as indicated in Section 4.2 of this Lease) for the first full month for which rent is due hereunder.
Section 3.2 As additional rent during each and every Lease year during the term hereof and any renewals the TENANT shall pay to the LANDLORD its proportionate share of any increase in real estate taxes over the 1998/99 School Tax and the 1999 Town Tax.
A. TENANT'S proportionate share of any such increase shall be determined by multiplying any such increase by a fraction, the numerator of which shall be the total gross rentable area of the Demised Premises (i.e., 2,770 square feet) and the denominator of which shall be the total gross rentable area of the building of which the Demised Premises form a part (i.e., 55,000 square feet), i.e., 5.04%.
B. TENANT shall similarly pay its proportionate share as determined in sub-paragraph "A" above of any ad valorem assessments, or impositions against the real property of which the Demised Premises form a part and its proportionate share of any taxes which shall be imposed in lieu of any ad valorem real property tax as the same is presently considered, except that TENANT shall not be obligated to pay any portion of any assessment or impositions (whether payable in installments or otherwise) which have become a lien prior to the commencement of the term of this Lease. In the event that there shall be any general or special assessments or impositions against the said real property which the TENANT is obligated to pay a proportionate share, the LANDLORD agrees that if the said assessments or impositions may be paid in installments that the LANDLORD will elect to pay the same in install...
Basic Rent Additional Rent. Tenant’s obligation to pay Basic Rent shall commence on the date which is the later to occur of (i) May 1, 2005 or (ii) the date which is 30 days after Landlord Substantially Completes (as defined in Exhibit B) the Tenant Improvement Work (the “Rent Commencement Date”). Tenant shall pay Additional Rent (as defined below) commencing on the Term Commencement Date. The Tenant shall pay Basic Rent to the Landlord at an annual rate of: Rent Commencement through Lease Year 4 $ 13.48 $ 864,849.84 $ 72,070.82 Lease Years 5 – 7 $ 14.23 $ 912,968.34 $ 76,080.70 In the event the Term is automatically extended for another three Lease Years, the Basic Rent shall be payable as set forth below: Lease Years 4 – 7 $ 13.48 $ 864,849.84 $ 72,070.82 Lease Years 8 – 10 $ 8.25 $ 529,303.50 $ 44,108.63 In the event Tenant utilizes less than all of Tenant’s Allowance (as defined in Exhibit B), then the Basic Rent shall be decreased in accordance with the provisions of Exhibit B. Basic Rent shall be payable in advance on the first day of each month in equal installments to the Landlord at the address set forth above or such other address as the Landlord may thereafter specify by notice to the Tenant, without counterclaim, deduction or defense and, except as otherwise expressly provided herein, without set-off or abatement. This Lease is intended by the parties hereto to be a so-called triple “net” or pass-through lease and, to the end that the Basic Rent shall be received by the Landlord net of all costs and expenses related to the Property, the Building and the Premises, except as expressly set forth herein, the Tenant agrees to pay, in addition to the Tenant’s obligations with respect to real estate taxes, insurance premiums, management fees to the extent that such fees do not exceed the costs of such fees rendered by qualified unaffiliated third parties on a competitive basis, utilities costs, costs of repairs and maintenance and other
Basic Rent Additional Rent. Effective with the Commencement Date, and for the period August 1, 1999 through July 31, 2002 of this Lease as defined by Section 4 above (except as provided for in the second paragraph of this clause), the Tenant shall pay to the Landlord as Basic Rent, the sum of Three Hundred Forty Three Thousand Seven Hundred and 00/100 ($343,700.00) Dollars per year in monthly installments of Twenty Eight Thousand Six Hundred Forty-One and 67/100 (28,641.67) Dollars, the same calculated at the rate of $7.00 per square foot for 49,100 rentable square feet of area at the Building more particularly described on Exhibit A. For the period August 1, 2002 through July 31, 2004 of this Lease as defined by Section 4 above (except as provided for in the second paragraph of this clause), the Tenant shall pay to the Landlord as Basic Rent, the sum of Three Hundred Sixty-Eight Thousand Two Hundred Fifty and 00/100 ($368,250.00) Dollars per year in monthly installments of Thirty Thousand Six Hundred Eighty-Seven and 50/100 ($30,687.50) Dollars, the same calculated at the rate of $7.50 per square foot for 49,100 rentable square feet of area at the Building more particularly described on Exhibit A. As more specifically set forth hereafter, each yearly amount of Basic Rent is to be Triple Net. Basic Rent shall be payable without counterclaim, deduction, defense setoff or abatement, except as otherwise expressly provided herein, in advance on the first day of each month in equal installments (except in the case of a partial month at the beginning of the Term, in which event the Tenant shall pay the appropriate pro rata proportion of such installment) to the Landlord at the address set forth above or to such other party or such other address as the Landlord may thereafter from time to time specify by notice to the Tenant. If the name or address of the party entitled to receive Basic Rent and Additional Rent shall be changed, the Tenant may, until ten (10) days after receipt of such notice or such change, continue to pay Basic Rent and Additional Rent to the party and the address to which, and in the manner in which, the preceding installment of Basic Rent was paid. To the end this Lease is Triple Net, Basic Rent shall be received by the Landlord net of all costs and expenses related to the Premises other than as expressly set forth herein. The Tenant agrees to pay, for that area leased to it and exclusively dedicated to its use, its proportionate share (initially 49.1% except in the cas...