Fixed Rent Sample Clauses
The Fixed Rent clause establishes a predetermined, unchanging rental amount that the tenant must pay to the landlord for the duration of the lease. This clause specifies the exact sum due at regular intervals, such as monthly or annually, and does not allow for adjustments based on market fluctuations or changes in property expenses. By setting a stable rent amount, the clause provides both parties with financial predictability and simplifies budgeting, thereby reducing the risk of disputes over rent increases during the lease term.
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Fixed Rent. (a) Commencing as of the Rent Commencement Date, Tenant shall pay Fixed Rent to Landlord, or Landlord’s designee as designated in a written notice to Tenant at such address as Landlord shall from time to time designate by written notice to Tenant. Except as hereinafter provided, the Fixed Rent shall be due and payable in the amounts set forth on Schedule 2 hereto for the respective periods shown on such Schedule 2. Fixed Rent shall be due and payable in advance on the first day of each month (or if such first day is not a business day, the first business day of each month), commencing on the Date of Rent Commencement, during the Term (each such date being referred to herein as a “Due Date”). Notwithstanding the foregoing, from the Date of Rent Commencement until Tenant is notified otherwise by Landlord and Lender, Fixed Rent shall be paid by wire transfer to the account specified in the rent direction letter from Landlord to Tenant delivered concurrently with the execution and delivery of this Lease.
(b) If the Lease Commencement Date or Rent Commencement Date shall be on any day other than the first day of a calendar month, then all amounts to be paid on such dates shall be prorated on a per diem basis.
(c) If any installment of Fixed Rent is not paid on the respective Due Date, Tenant shall pay Landlord interest on such overdue payment at the Lease Default Rate, accruing from the Due Date of such payment until the same is paid; provided, however, the foregoing obligation to pay the Default Rate shall not be required for the first late payment of Fixed Rent in any calendar year so long as such delay in payment does not continue for longer than a period of ten (10) days. All Fixed Rent and Additional Rent shall be payable in U.S. Dollars.
(d) Commencing as of the Lease Commencement Date, all taxes, costs, expenses, and other amounts which Tenant is required to pay pursuant to this Lease (other than Fixed Rent), together with every fine, penalty, interest and cost which may be added in accordance herewith for non-payment or late payment thereof shall constitute additional rent (“Additional Rent”). All Additional Rent due to Landlord (or its designee) shall be paid directly by Tenant within thirty (30) days after Landlord gives written notice that payment is due, unless otherwise provided in this Lease, in which case, the Additional Rent shall be paid as otherwise so provided. Unless otherwise provided herein, Additional Rent payable by Tenant to a third (3r...
Fixed Rent. Each Extension Term shall be upon all of the same terms, covenants and conditions as provided in the Lease, except that: (A) Tenant may not again exercise the Extension Option during the second Extension Term so as to further extend the Term beyond the expiration of the second Extension Term; and (B) the Fixed Rent payable for each Extension Term (the “Market Extension Rent”) shall be at the then current “market rate” annual Fixed Rent rate for new leases for similar space in the Building as in effect six (6) months prior to commencement of the applicable Extension Term, determined in accordance with this Section 5(b)(ii); provided, however, the Fixed Rent rate for each Extension Term shall in no event be less than the Fixed Rent rate for each previous Term or Extension Term (as the case may be).
(A) Market rate Fixed Rent shall mean the Fixed Rent rate for which the Premises would be expected to be leased for a five (5) year term commencing on the first day of the applicable Extension Term, with annual increases, in an arm’s-length transaction between a willing lessor and lessee in the greater Cleveland, Ohio metropolitan area industrial space market existing at the time such rate is established.
(B) If Tenant properly exercises the applicable Extension Option, Landlord and Tenant shall attempt to agree as to the market rate Fixed Rent at least five (5) months prior to the commencement of the applicable Extension Term. If Landlord and Tenant do not agree as to the market rate Fixed Rent by such date, then market rate Fixed Rent for the applicable Extension Term shall be determined by binding “baseball” arbitration, in accordance with the following provisions:
(1) The party desiring such arbitration shall give written notice to that effect to the other party, specifying in such notice the name, address and professional qualifications of the person designated to act as appraiser on its behalf. Within ten (10) days after service of such notice, the other party shall give written notice to the party desiring such arbitration, specifying the name, address and professional qualifications of the person designated to act as appraiser on its behalf. The two (2) appraisers shall, within ten (10) days after selection of the second appraiser, select a third appraiser. All appraisers appointed hereunder shall be MAI members of the Appraisal Institute with not less than five
(5) years of experience in the appraisal of improved industrial real estate in the great Clevel...
Fixed Rent. Tenant covenants to pay to Landlord as a net minimum rent (“Fixed Rent”), as follows: __/__/2021 – __/__/2022 $ 20.101 $ 6,365.40 $ 76,384.80 __/__/2022 – __/__/2023 $ 20.704 $ 6,556.36 $ 78,676.34 __/__/2023 – __/__/2024 $ 21.325 $ 6,753.05 $ 81,036.63 __/__/2024 – __/__/2025 $ 21.965 $ 6,995.64 $ 83,467.73 __/__/2025 – __/__/2026 $ 22.624 $ 7,164.31 $ 85,971.77 __/__/2026 – __/__/2027 $ 23.303 $ 7,379.24 $ 88,550.92 __/__/2027 – __/__/2028 $ 24.002 $ 7,600.62 $ 91,207.45 __/__/2028 – __/__/2029 $ 24.722 $ 7,828.64 $ 93,943.67 __/__/2029 – __/__/2030 $ 25.464 $ 8,063.50 $ 96,761.98 __/__/2030 – __/__/2031 $ 26.228 $ 8,305.40 $ 99,664.84 Tenant shall pay the Annual Fixed Rent in advance in equal monthly installments of the monthly Fixed Rent on the 1st day of each calendar month.
Fixed Rent. (a) Mesoblast shall pay Carlo Pazolini fixed rent (“Fixed Rent”) for the Subleased Premises, as follows: From the Commencement Date until the day immediately preceding the fourth (4th) anniversary of the Commencement Date, Nine Hundred Fifty-Three Thousand Sixty-Four Dollars ($953,064.00) per annum, payable in advance in monthly installments of Seventy-Nine Thousand Four Hundred Twenty Two and 00/100 Dollars ($79,422.00) on the Commencement Date and on the first day of each and every calendar month. From the fourth (4th) anniversary of the Commencement Date until the Expiration Date, Nine Hundred Ninety-Nine Thousand Nine Hundred Thirty-Six Dollars ($999,936.00) per annum, payable in advance in monthly installments of Eighty Three Thousand Three Hundred Twenty Eight and 00/100 Dollars ($83,328.00) on the first day of each and every calendar month.
(b) Notwithstanding anything to the contrary in the foregoing, Mesoblast shall pay the first monthly installment of Fixed Rent upon the signing of this Sub-Sublease by Mesoblast.
(c) The Fixed Rent for any portion of a calendar month falling within the Term shall be prorated.
(d) Fixed Rent and Additional Rent (as hereinafter defined) shall be paid promptly when due, without notice or demand therefor (except as provided in Paragraph 4(c) below), and without deduction, abatement, counterclaim or setoff of any kind for any reason whatsoever.
(e) Fixed Rent and Additional Rent shall be paid in lawful money of the United States by either (i) wire transfer in accordance with Carlo Pazolini’s instructions, or (ii) check drawn on a bank which is a member of the New York Clearing House Association to Carlo Pazolini at its address set forth in the preamble to this Sub-Sublease or at such other address as Carlo Pazolini may from time to time designate by notice to Mesoblast; provided, however, that, if requested by Carlo Pazolini, Mesoblast shall pay Fixed Rent and Additional Rent by direct remittance to a bank account of Carlo Pazolini which shall be designated by the Carlo Pazolini from time to time for such purpose.
(f) Notwithstanding anything to the contrary contained in this Paragraph 3, provided that no Event of Default has occurred and is then continuing, the Fixed Rent for the first two (2) months of the Term shall be abated. To the extent the Commencement Date starts on a date other than the first day of the month, the abatement shall be prorated for the month in which the abatement expires, and Mesoblast shall p...
Fixed Rent. Tenant shall pay Landlord as fixed rent for the Premises a sum equal to the Fixed Rent set forth in paragraph 1 on or before the first day of each and every calendar month during the Term of this Lease, except that Fixed Rent for the first full calendar month of the Term shall be payable simultaneously with the execution of this Lease by Tenant.
Fixed Rent. The Fixed Rent under this Lease through the end of the Primary Term stated therein on December 8, 2006. From December 9, 2006 through December 8, 2011, the Fixed Rent will be $353,322.00 per annum. From December 9, 2011 through December 8, 2016, the Fixed Rent will be $293.899.67 per annum. From December 9, 2016 through December 8, 2021, the Fixed Rent will be $281,051.59 per annum. Fred Meyer - Metropolitan Life Leas▇ ▇▇d▇▇▇▇▇tion Agreement February 4, 1997 Appendix 10I (5)(T) Columbia Falls, MT Recordation Requested by and After recordation return to: Stoel Rives LLP Attention: David W. Green 950 Port of Portland ▇▇▇▇▇▇▇▇ ▇▇▇ NE Multnomah Portland, OR 97232 (▇▇▇▇▇ ▇▇▇▇▇▇▇d for recorder's use) ------------------------------------------------------------------------------- TERMINATION AGREEMENT AND ASSIGNMENT OF INTERESTS (Columbia Falls, Montana) This Termination Agreement and Assignment of Interests (this "Agreement"), dated as of the day of February, 1997 between METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (hereinafter referred to as "Landlord"), as landlord/lessor (by assignment) under the Master Lease described below, and B & B STORES, INC., a Montana corporation (hereinafter referred to as "Tenant"), as tenant/lessee under such Master Lease. Landlord has leased to Tenant, and Tenant has leased from Landlord, certain real property described in the attached Exhibit A (the "Premises"), pursuant to the terms of a Lease Agreement, between Landlord's predecessor in interest, FRED MEYER REAL ESTATE PROPERTIES, ▇▇▇., ▇▇ ▇regon limited partnership, as landlord/lessor, and Tenant, as tenant/lessee, dated October 22, 1986, as amended (the "Master Lease"). Such Master Lease was an amended and restated lease, which modified and restated one or more prior leases of the Premises. Evidence of such Master Lease and such prior lease or leases is evidenced of record by certain memoranda of leases and/or other instruments listed on the attached Exhibit B (the "Memoranda"). Tenant, as assignee of FRED MEYER REAL ESTATE PROPERTIES, ▇▇▇. ▇▇▇▇▇ant to an Assignment of Leases and Rents dated October 22, 1986 and recorded on December 9, 1986 in the Official Records of Flathead County, Montana as Document No. 86-343-10120 holds the lessor's int▇▇▇▇▇ ▇▇▇▇▇ and to existing leases affecting portions of the Premises (for purposes hereof, the "Subleases"). Tenant's interest in such Subleases was then assigned, for collateral purposes, to Landlord at -----------------...
Fixed Rent. Period Fixed Rent ------ ---------- From March 15, 1988 (subject to the Three Hundred Fifty-Nine Thousand Two abatement set forth in Section 40(c) Hundred Twenty ($359,220) Dollars per hereof) to June 30, 1991, both dates annum, payable in equal monthly inclusive installments of Twenty-Nine Thousand Nine Hundred Thirty-Five ($29,935) Dollars From July 1, 1991 to July 31, 1993, three Hundred Sixty-Nine Thousand Two both dates inclusive Hundred Twenty ($369,220) Dollars per annum, payable in equal monthly installments of Thirty Thousand Seven Hundred Sixty-Eight and 33/100 ($30,768.33) Dollars From August 1, 1993 to July 31, 1998, Four Hundred Twenty-four Thousand Six both dates inclusive Hundred Three ($424,603) Dollars per annum, payable in equal monthly installments of Thirty-Five Thousand Three Hundred Eighty-Four ($35,384) Dollars From August 1, 1998 to July 31, 2003, Four Hundred Eighty-Eight Thousand both dates inclusive Two Hundred Ninety-Four ($488,294) Dollars per annum, payable in equal monthly installments of Forty Thousand Six Hundred Ninety-One and 16/100 ($40,691.16) Dollars From August 1, 2003 to December 31, Five Hundred Sixty-One Thousand Five 2008, both dates inclusive Hundred Thirty-Eight ($561,538) Dollars per annum, payable in equal monthly installments of Forty-Six Thousand Seven Hundred Ninety-four and 83/100 ($46,794.83) Dollars AMENDMENT OF LEASE ------------------ THIS AGREEMENT (the "Amendment") dated as of the 26th day of December, 1989 between CABLE BUILDING ASSOCIATES, a New York limited partnership having an office at ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ("Landlord") and HOUSTON CINEMA, INC., a New York corporation having an office c/o ▇▇▇▇▇▇▇▇ Films, ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ("Tenant").
Fixed Rent. (A) The annual fixed rent for the Premises (the annual fixed rent payable hereunder for the Premises at any particular time being referred to herein as the "Fixed Rent") shall be:
(1) Twelve Million One Hundred Sixty-One Thousand Fifty-Two and No/100 Dollars ($12,161,052.00) per annum ($1,013,421.00 per month) for the period commencing on the Rent Commencement Date and ending on the day immediately preceding the date that is the fifth (5th) anniversary of the Rent Commencement Date;
(2) Thirteen Million Two Hundred Thirty-Four Thousand Eighty-Six and No/100 Dollars ($13,234,086.00) per annum ($1,102,840.50 per month) for the period commencing on the date that is the fifth (5th) anniversary of the Rent Commencement Date and ending on the day immediately preceding the date that is the tenth (10th) anniversary of the Rent Commencement Date; and
(3) Fourteen Million Three Hundred Seven Thousand One Hundred Twenty and No/100 Dollars ($14,307,120.00) per annum ($1,192,260.00 per month) for the period commencing on the date that is the tenth (10th) anniversary of the Rent Commencement Date and ending on the Fixed Expiration Date.
(B) Subject to the terms of this Section 1.4(B), Tenant shall be entitled to a credit (the "650 Rent Credit") at the rate of Eighty-Three Thousand Three Hundred Thirty-Three and 33/100 Dollars ($83,333.33) per month against the Fixed Rent that comes due hereunder for the period commencing on the Rent Commencement Date and ending on February 28, 2027. Tenant shall not be entitled to the 650 Rent Credit during any period in which a monetary or material non-monetary Event of Default has occurred and is continuing, provided that if (x) an Event of Default has occurred and is continuing at a time when Tenant would otherwise be entitled to the 650 Rent Credit, and (y) Tenant subsequently cures such Event of Default, then, (i) from and after the date Tenant cures such Event of Default, Tenant shall again be entitled to the 650 Rent Credit and (ii) the amount of the 650 Rent Credit that Tenant did not receive during the continuance of such monetary or material non-monetary Event of Default shall be applied to the Fixed Rent first coming due from and after the date that Tenant cures such Event of Default until thereafter exhausted (such that Tenant receives the entire 650 Rent Credit to which Tenant would have been entitled if no Event of Default had occurred). Nothing contained in this Section 1.4(B) diminishes Landlord's rights and remedies aft...
Fixed Rent. Tenant shall pay Landlord during the first Lease Year of the Initial Term, without notice or demand, in lawful money of the United States of America, a net annual rental equal to [ ● ] Thousand Dollars ($[ ● ]) (the “Fixed Rent”).3 [For each successive Lease Year during the Initial Term and, if applicable, the Renewal Term, the Fixed Rent shall be equal to the product of (a) the Fixed Rent for the immediately preceding Lease Year multiplied by (b) the CPI Adjustment Factor, provided that in no event will the Fixed Rent ever be an amount less than the initial annual Fixed Rent of [ ● ] Thousand Dollars ($[ ● ]).]
Fixed Rent. Tenant agrees to pay to Landlord, on the Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to one-twelfth (1/12) of the Annual Fixed Rent specified in Section 1.1 hereof and on the first day of each and every calendar month during each Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as determined in Section 3.2 for the applicable Extended Term. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Boston Properties Limited Partnership, as agent of Landlord, either (i) by ACH transfer to Bank of America in Dallas, Texas, Bank Routing Number 111 000 012 or (ii) by mail to ▇.▇. ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, and in the case of (i) referencing Account Number 3756454460, Account Name of Boston Properties Limited Partnership, Tenant’s name and the Property address. All remittances received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as agent as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis, and, if the Commencement Date shall be other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual Fixed Rent for the partial month from the Commencement Date to the first day of the succeeding calendar month. Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and shall commence on the Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. The Annual Fixed Rent and all other charges for which provision is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement, except as otherwise expressly set forth in this Lease. Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord with respect to the fourth (4th) floor of the Office Building shall not commence until the expiration of the Rent Abatement Period, Tenant shall be subject to, and shall co...