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. 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 $650,738.02 per annum. From December 9, 2011 through December 8, 2016, the Fixed Rent will be $541,295.71 per annum. From December 9, 2016 through December 8, 2021, the Fixed Rent will be $517,632.51 per annum. Fred Meyer - Metropolitan Life Leas▇ ▇▇d▇▇▇▇▇tion Agreement February 4, 1997 Appendix 10I (32) Richland, WA MODIFICATION TO MASTER LEASE (Richland, WA) THIS MODIFICATION TO MASTER LEASE ("Modification"), dated as of February 4, 1997, by and between METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (hereinafter referred to as "Landlord"), as landlord/lessor under the Lease described below, and ROUNDUP CO., a Washington corporation (hereinafter referred to as "Tenant"), as tenant/lessee under such Lease. Landlord has leased to Tenant, and Tenant has leased from Landlord, for the lease term specified below, 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, ▇▇▇.) ▇▇▇ Tenant, dated October 22, 1986, as amended (the "Lease"), the landlord's/lessor's interest in which was assigned to Landlord pursuant to an Assignment of Master Lease dated November 25, 1986. The Lease currently includes seven successive renewal option terms after the end of the original lease term, which ends on December 8, 2006, at certain fixed rental amounts stated in the Lease. Each capitalized term not otherwise defined in this Modification will have the meaning stated in the Lease. FOR VALUE RECEIVED, Landlord and Tenant do hereby covenant and agree as follows:
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. 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 prepaid Fixed Rent will be prorated as of the Proration Date. All other Fixed Rent which is delinquent on the Proration Date will not be prorated. All such arrearages of Fixed Rent unpaid on the Proration Date will remain the sole and exclusive property of Seller after Closing, provided, however, if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to Purchaser that portion of such delinquent Fixed Rent that is attributable to the period after the Proration Date, if any. Seller shall retain all right, title, power and authority to enforce payment thereof after Closing, except that Seller will not have the right to terminate the Lease of a delinquent tenant after Closing due to such delinquency. If, after Closing, Purchaser or its designee shall receive any delinquent Fixed Rents (this provision shall not relate to percentage rents) Purchaser may first apply such payments to rent delinquencies which relate to any period after the Proration Date, and Purchaser agrees, on its behalf and on behalf of its designee, to immediately remit the balance to Seller.
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...
Fixed Rent. For the period commencing on the Lease Commencement Date until June 30, 2000, Tenant shall pay fixed rent ("Fixed Rent") for the Premises at the annual rate of Sixty Thousand and No/100 Dollars ($60,000.00), payable in monthly installments of Five Thousand and No/100 Dollars ($5,000.00) per month, payable on the first day of each month, up to and including June 1, 2000. For the Lease Year commencing on July 1, 2000, the annual Fixed Rent shall increase by five percent (5%) and the Fixed Rent, as so increased, shall be annual Fixed Rent until the Lease Termination Date. If Tenant exercises its option(s) to renew the term of this Lease pursuant to Section 4 of this Lease, the annual Fixed Rent for the first Lease Year of the Renewal Term shall be equal to the annual Fixed Rent for the last Lease Year of the initial Term and thereafter the annual Fixed Rent shall increase by five percent (5%) on the commencement of the second, fifth, and eighth Lease Year of the Renewal Term(s).
Fixed Rent. Tenant covenants to pay to Landlord as a net minimum rent (“Fixed Rent”), as follows: __/__/2021 – __/__/2022 $ 42.436 $ 74,263.00 $ 891,156.00 __/__/2022 – __/__/2023 $ 43.709 $ 76,490.89 $ 917,890.68 __/__/2023 – __/__/2024 $ 45.020 $ 78,785.62 $ 945,427.44 __/__/2024 – __/__/2025 $ 46.371 $ 81,149.19 $ 973,790.28 __/__/2025 – __/__/2026 $ 47.762 $ 83,583.66 $ 1,003,003.93 __/__/2026 – __/__/2027 $ 49.195 $ 86,091.17 $ 1,033,094.04 __/__/2027 – __/__/2028 $ 50.671 $ 88,673.91 $ 1,064,086.92 __/__/2028 – __/__/2029 $ 52.191 $ 91,334.12 $ 1,096,009.44 __/__/2029 – __/__/2030 $ 53.757 $ 94,074.15 $ 1,128,889.76 __/__/2030 – __/__/2031 $ 55.369 $ 96,896.37 $ 1,162,756.45 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.