Common use of Lease Consideration Clause in Contracts

Lease Consideration. As consideration for Lessor’s lease of the Rented Premises to Lessee, Lessee shall pay to Lessor annual rent of $ payable in twelve (12) equal monthly installments of $ each on the first day of each month, in advance, to the Lessor, beginning on the issuance of a building permit or three (3) months after the execution of the Lease Agreement, whichever is sooner. Should any delay in the issuance of the project building permit beyond 3 months from the execution date be due to factors outside the control of ▇▇▇▇▇▇, then Lessor shall agree to extend the rent start date until permit is issued. The Lease consideration shall be adjusted annually at the rate of three percent (3%) per annum. In the event the rent commencement date, falls between the 1st and 15th of the month, the Agreement shall commence on the 1st of that month and if such date falls between the 16th and 31st of the month, then the Agreement shall commence on the 1st day of the following month (either the "Commencement Date"). Lessor and ▇▇▇▇▇▇ acknowledge and agree that initial rental payment(s) shall not actually be sent by ▇▇▇▇▇▇ until thirty (30) days after the Commencement Date. By way of illustration of the preceding sentence, if the Commencement Date is January 1, Lessee shall send to the Lessor the rental payments for January 1 and February 1 by February 1. Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, ▇▇▇▇▇▇ agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. Upon execution of this document, and prior to commencement of construction by Lessee under this Agreement, Lessee shall pay to Lessor the amount of three thousand dollars ($3,000.00) (“Up-Front Payment”) to cover Lessor’s costs associated with the project. Lessor hereby agrees to provide to Lessee certain documentation (the “Rental Documentation”) evidencing Lessor’s interest in, and right to receive payments under, this Agreement, including without limitation: (i) documentation, acceptable to Lessee in Lessee reasonable discretion, evidencing ▇▇▇▇▇▇’s good and sufficient title to and/or interest in the Property and right to receive rental payments and other benefits hereunder; (ii) a complete and fully executed Internal Revenue Service Form W-9, or equivalent, in a form acceptable to Lessee, for any party to whom rental payments are to be made pursuant to this Agreement; and (iii) other documentation requested by ▇▇▇▇▇▇ in ▇▇▇▇▇▇’s reasonable discretion. From time to time during the Term of this Agreement and within forty-five (45) days of a written request from ▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to provide updated Rental Documentation in a form reasonably acceptable to Lessee. The Rental Documentation shall be provided to Lessee in accordance with the provisions of and at the address given in Paragraph 18.3. Delivery of Rental Documentation to Lessee shall be a prerequisite for the payment of any rent by Lessee and notwithstanding anything to the contrary herein, Lessee shall have no obligation to make any rental payments until Rental Documentation has been supplied to Lessee as provided herein.

Lease Consideration. As consideration for Lessor’s lease of the Rented Premises to Lessee, Lessee shall pay to Lessor annual rent of $ payable in twelve (12) equal monthly installments of $ each on the first day of each month, in advance, to the Lessor, beginning on the issuance of a building permit or three (3) months after the execution of the Lease Agreement, whichever is sooner. Should any delay in the issuance of the project building permit beyond 3 months from the execution date be due to factors outside the control of ▇▇▇▇▇▇, then Lessor shall agree to extend the rent start date until permit is issued. The Lease consideration shall be adjusted annually at the rate of three percent (3%) per annum. In the event the rent commencement date, falls between the 1st and 15th of the month, the Agreement shall commence on the 1st of that month and if such date falls between the 16th and 31st of the month, then the Agreement shall commence on the 1st day of the following month (either the "Commencement Date"). Lessor and ▇▇▇▇▇▇ acknowledge and agree that initial rental payment(s) shall not actually be sent by ▇▇▇▇▇▇ until thirty (30) days after the Commencement Date. By way of illustration of the preceding sentence, if the Commencement Date is January 1, Lessee shall send to the Lessor the rental payments for January 1 and February 1 by February 1. Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such event, ▇▇▇▇▇▇ LESSOR agrees to provide to LESSEE bank routing information for such purpose upon request of LESSEE. Upon execution of this document, and prior to commencement of construction by Lessee under this Agreement, Lessee shall pay to Lessor the amount of three thousand dollars ($3,000.00) (“Up-Front Payment”) to cover Lessor’s costs associated with the project. Lessor hereby agrees to provide to Lessee certain documentation (the “Rental Documentation”) evidencing Lessor’s interest in, and right to receive payments under, this Agreement, including without limitation: (i) documentation, acceptable to Lessee in Lessee reasonable discretion, evidencing ▇▇▇▇▇▇’s good and sufficient title to and/or interest in the Property and right to receive rental payments and other benefits hereunder; (ii) a complete and fully executed Internal Revenue Service Form W-9, or equivalent, in a form acceptable to Lessee, for any party to whom rental payments are to be made pursuant to this Agreement; and (iii) other documentation requested by ▇▇▇▇▇▇ in ▇▇▇▇▇▇’s reasonable discretion. From time to time during the Term of this Agreement and within forty-five (45) days of a written request from ▇▇▇▇▇▇, ▇▇▇▇▇▇ agrees to provide updated Rental Documentation in a form reasonably acceptable to Lessee. The Rental Documentation shall be provided to Lessee in accordance with the provisions of and at the address given in Paragraph 18.3. Delivery of Rental Documentation to Lessee shall be a prerequisite for the payment of any rent by Lessee and notwithstanding anything to the contrary herein, Lessee shall have no obligation to make any rental payments until Rental Documentation has been supplied to Lessee as provided herein.