Common use of Monthly Installments Clause in Contracts

Monthly Installments. Prior to the beginning of each calendar year of the Term beginning with 1998, or as soon as practicable thereafter, Landlord shall give Tenant written notice of Landlord's estimate of Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases for the ensuing year. On or before the first (1st) day of each month during such ensuing calendar year, Tenant shall pay Landlord one-twelfth (1/12) of such estimated amounts, provided that until such notice is tendered to Tenant with respect to the ensuing year, Tenant shall continue to pay any amount then currently payable pursuant to this Lease. Landlord shall, within the period of one hundred twenty (120) days after the close of each calendar year, provide Tenant a statement, which shall be a line item statement, certified by an officer of Landlord as true, correct and complete by Landlord, of such year's actual Base Year Operating Costs, Operating Costs, Base Year Real Estate Taxes and Real Estate Taxes and Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases. In the event Landlord fails to deliver such a statement in a timely manner, and shall thereafter fail to deliver it within forty-five (45) days of written notice of such failure (and time shall be of the essence), Landlord and Tenant expressly acknowledge and agree that Tenant shall not have any liability to Landlord with respect to such calendar year for any Operating Cost Increases or Real Estate Tax Increases in excess of payments made during such calendar year that has elapsed. If on the basis of any such statement, Tenant owes an amount that is more than the estimated payments made during any year, Tenant shall pay the deficiency to Landlord within fifteen (15) business days after Tenant's receipt of such statement. If Tenant owes an amount that is less than the estimated payments made during any year, Landlord shall credit such excess amount against the next payment(s) due from Tenant for Operating Expense Increases and Real Estate Tax Increases.

Monthly Installments. Prior During the Interest Only Period, consecutive monthly installments of interest only at the Interest Rate, each in the amount of Seven Hundred Seventeen Thousand Five Hundred and 00/100 Dollars (US $717,500.00), shall be payable on the First Payment Date and on the first day of every month thereafter to and including September 1, 2020. During the beginning Principal and Interest Period, consecutive monthly installments of principal and interest at the Interest Rate, each calendar year in the amount of One Million One Hundred Four Thousand Six Hundred Forty Nine and 93/100 Dollars (US $1,104,649.93), shall be payable on the First Principal and Interest Payment Date and on the first day of every month thereafter to and including March 1, 2023. Amended and Restated Mortgage Note Thereafter, during the Adjustable Rate Period, consecutive monthly installments of principal and interest, each in the amount of the Term beginning with 1998Required Monthly Payment (defined below), or as soon as practicable thereafter, Landlord shall give Tenant written notice of Landlord's estimate of Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases for the ensuing year. On or before be payable on the first (1st) day of each month during such ensuing calendar yearbeginning on the first Payment Change Date until the entire unpaid principal balance evidenced by this Note is fully paid. The initial Required Monthly Payment shall be the amount required to amortize the unpaid principal balance of this Note in equal monthly installments, Tenant shall pay Landlord one-twelfth (1/12) of such estimated amountsincluding accrued interest at the then applicable Adjusted Interest Rate, provided that until such notice is tendered to Tenant with respect over the then Remaining Amortization Period. Thereafter, to the ensuing yearextent that the Adjusted Interest Rate has changed, Tenant the Required Monthly Payment shall change on each Payment Change Date, and shall be set to such amount required to amortize the unpaid principal balance of the Note in equal monthly installments, including accrued interest at the then applicable Adjusted Interest Rate, over the then Remaining Amortization Period. The amount of all Required Monthly Payments shall be calculated utilizing a 30/360 interest calculation payment schedule. Any remaining principal and interest, if not sooner paid, shall be due and payable on the Maturity Date. The unpaid principal balance shall continue to pay any amount then currently payable pursuant to this Lease. Landlord shall, within the period of one hundred twenty (120) days bear interest after the close of each calendar year, provide Tenant a statement, Maturity Date at the Default Rate until and including the date on which shall be a line item statement, certified by an officer of Landlord as true, correct and complete by Landlord, of such year's actual Base Year Operating Costs, Operating Costs, Base Year Real Estate Taxes and Real Estate Taxes and Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases. In the event Landlord fails to deliver such a statement Indebtedness is paid in a timely manner, and shall thereafter fail to deliver it within forty-five (45) days of written notice of such failure (and time shall be of the essence), Landlord and Tenant expressly acknowledge and agree that Tenant shall not have any liability to Landlord with respect to such calendar year for any Operating Cost Increases or Real Estate Tax Increases in excess of payments made during such calendar year that has elapsed. If on the basis of any such statement, Tenant owes an amount that is more than the estimated payments made during any year, Tenant shall pay the deficiency to Landlord within fifteen (15) business days after Tenant's receipt of such statement. If Tenant owes an amount that is less than the estimated payments made during any year, Landlord shall credit such excess amount against the next payment(s) due from Tenant for Operating Expense Increases and Real Estate Tax Increasesfull.

Monthly Installments. Prior During the Initial Period, consecutive monthly installments of interest only at the Interest Rate, each in the amount of Eight Hundred Fifty Six Thousand Seven Hundred Seventy and 83/100 Dollars (US $856,770.83), shall be payable on the First Payment Date and on the first day of every month thereafter to and including June 1, 2027. Thereafter, during the beginning Adjustable Rate Period, consecutive monthly installments of principal and interest, each calendar year in the amount of the Term beginning with 1998Required Monthly Payment (defined below), or as soon as practicable thereafter, Landlord shall give Tenant written notice of Landlord's estimate of Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases for the ensuing year. On or before be payable on the first (1st) day of each month during such ensuing calendar yearbeginning on the first Payment Change Date until the entire unpaid principal balance evidenced by this Note is fully paid. The initial Required Monthly Payment shall be the amount required to amortize the unpaid principal balance of this Note in equal monthly installments, Tenant shall pay Landlord one-twelfth (1/12) of such estimated amountsincluding accrued interest at the then applicable Adjusted Interest Rate, provided that until such notice is tendered to Tenant with respect over the then Remaining Amortization Period. Thereafter, to the ensuing yearextent that the Adjusted Interest Rate has changed, Tenant the Required Monthly Payment shall change on each Payment Change Date, and shall be set to such amount required to amortize the unpaid principal balance of the Note in equal monthly installments, including accrued interest at the then applicable Adjusted Interest Rate, over the then Remaining Amortization Period. The amount of all Required Monthly Payments shall be calculated utilizing a 30/360 interest calculation payment schedule. Any remaining principal and interest, if not sooner paid, shall be due and payable on the Maturity Date. The unpaid principal balance shall continue to pay any amount then currently payable pursuant to this Lease. Landlord shall, within the period of one hundred twenty (120) days bear interest after the close of each calendar year, provide Tenant a statement, Maturity Date at the Default Rate until and including the date on which shall be a line item statement, certified by an officer of Landlord as true, correct and complete by Landlord, of such year's actual Base Year Operating Costs, Operating Costs, Base Year Real Estate Taxes and Real Estate Taxes and Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases. In the event Landlord fails to deliver such a statement Indebtedness is paid in a timely manner, and shall thereafter fail to deliver it within forty-five (45) days of written notice of such failure (and time shall be of the essence), Landlord and Tenant expressly acknowledge and agree that Tenant shall not have any liability to Landlord with respect to such calendar year for any Operating Cost Increases or Real Estate Tax Increases in excess of payments made during such calendar year that has elapsed. If on the basis of any such statement, Tenant owes an amount that is more than the estimated payments made during any year, Tenant shall pay the deficiency to Landlord within fifteen (15) business days after Tenant's receipt of such statement. If Tenant owes an amount that is less than the estimated payments made during any year, Landlord shall credit such excess amount against the next payment(s) due from Tenant for Operating Expense Increases and Real Estate Tax Increasesfull.

Monthly Installments. Prior During the Initial Period, consecutive monthly installments of principal and interest at the Interest Rate, each in the amount of twenty-four thousand nine hundred sixty-four and 26/100 Dollars (US $24,964.26), shall be payable on the First Payment Date and on the first day of every month thereafter to and including December 1, 2016. Thereafter, during the beginning Adjustable Rate Period, consecutive monthly installments of principal and interest, each calendar year in the amount of the Term beginning with 1998Required Monthly Payment (defined below), or as soon as practicable thereafter, Landlord shall give Tenant written notice of Landlord's estimate of Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases for the ensuing year. On or before be payable on the first (1st) day of each month during such ensuing calendar yearbeginning on the first Payment Change Date until the entire unpaid principal balance evidenced by this Note is fully paid. The initial Required Monthly Payment shall be the amount required to amortize the unpaid principal balance of this Note in equal monthly installments, Tenant shall pay Landlord one-twelfth (1/12) of such estimated amountsincluding accrued interest at the then applicable Adjusted Interest Rate, provided that until such notice is tendered to Tenant with respect over the then Remaining Amortization Period. Thereafter, to the ensuing yearextent that the Adjusted Interest Rate has changed, Tenant the Required Monthly Payment shall change on each Payment Change Date, and shall be set to such amount required to amortize the unpaid principal balance of the Note in equal monthly installments, including accrued interest at the then applicable Adjusted Interest Rate, over the then Remaining Amortization Period. The amount of all Required Monthly Payments shall be calculated utilizing a 30/360 interest calculation payment schedule. Any remaining principal and interest, if not sooner paid, shall be due and payable on the Maturity Date. The unpaid principal balance shall continue to pay any amount then currently payable pursuant to this Lease. Landlord shall, within the period of one hundred twenty (120) days bear interest after the close of each calendar year, provide Tenant a statement, Maturity Date at the Default Rate until and including the date on which shall be a line item statement, certified by an officer of Landlord as true, correct and complete by Landlord, of such year's actual Base Year Operating Costs, Operating Costs, Base Year Real Estate Taxes and Real Estate Taxes and Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases. In the event Landlord fails to deliver such a statement Indebtedness is paid in a timely manner, and shall thereafter fail to deliver it within forty-five (45) days of written notice of such failure (and time shall be of the essence), Landlord and Tenant expressly acknowledge and agree that Tenant shall not have any liability to Landlord with respect to such calendar year for any Operating Cost Increases or Real Estate Tax Increases in excess of payments made during such calendar year that has elapsed. If on the basis of any such statement, Tenant owes an amount that is more than the estimated payments made during any year, Tenant shall pay the deficiency to Landlord within fifteen (15) business days after Tenant's receipt of such statement. If Tenant owes an amount that is less than the estimated payments made during any year, Landlord shall credit such excess amount against the next payment(s) due from Tenant for Operating Expense Increases and Real Estate Tax Increasesfull.

Monthly Installments. Prior During the Initial Period, consecutive monthly installments of principal and interest at the Interest Rate, each in the amount of One Hundred Six Thousand Three Hundred Forty-Seven and 76/100 Dollars (US $106,347.76), shall be payable on the First Payment Date and on the first day of every month thereafter to and including December 1, 2016. Thereafter, during the beginning Adjustable Rate Period, consecutive monthly installments of principal and interest, each calendar year in the amount of the Term beginning with 1998Required Monthly Payment (defined below), or as soon as practicable thereafter, Landlord shall give Tenant written notice of Landlord's estimate of Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases for the ensuing year. On or before be payable on the first (1st) day of each month during such ensuing calendar yearbeginning on the first Payment Change Date until the entire unpaid principal balance evidenced by this Note is fully paid. The initial Required Monthly Payment shall be the amount required to amortize the unpaid principal balance of this Note in equal monthly installments, Tenant shall pay Landlord one-twelfth (1/12) of such estimated amountsincluding accrued interest at the then applicable Adjusted Interest Rate, provided that until such notice is tendered to Tenant with respect over the then Remaining Amortization Period. Thereafter, to the ensuing yearextent that the Adjusted Interest Rate has changed, Tenant the Required Monthly Payment shall change on each Payment Change Date, and shall be set to such amount required to amortize the unpaid principal balance of the Note in equal monthly installments, including accrued interest at the then applicable Adjusted Interest Rate, over the then Remaining Amortization Period. The amount of all Required Monthly Payments shall be calculated utilizing a 30/360 interest calculation payment schedule. Any remaining principal and interest, if not sooner paid, shall be due and payable on the Maturity Date. The unpaid principal balance shall continue to pay any amount then currently payable pursuant to this Lease. Landlord shall, within the period of one hundred twenty (120) days bear interest after the close of each calendar year, provide Tenant a statement, Maturity Date at the Default Rate until and including the date on which shall be a line item statement, certified by an officer of Landlord as true, correct and complete by Landlord, of such year's actual Base Year Operating Costs, Operating Costs, Base Year Real Estate Taxes and Real Estate Taxes and Tenant's PRO RATA share of Operating Expense Increases and Real Estate Tax Increases. In the event Landlord fails to deliver such a statement Indebtedness is paid in a timely manner, and shall thereafter fail to deliver it within forty-five (45) days of written notice of such failure (and time shall be of the essence), Landlord and Tenant expressly acknowledge and agree that Tenant shall not have any liability to Landlord with respect to such calendar year for any Operating Cost Increases or Real Estate Tax Increases in excess of payments made during such calendar year that has elapsed. If on the basis of any such statement, Tenant owes an amount that is more than the estimated payments made during any year, Tenant shall pay the deficiency to Landlord within fifteen (15) business days after Tenant's receipt of such statement. If Tenant owes an amount that is less than the estimated payments made during any year, Landlord shall credit such excess amount against the next payment(s) due from Tenant for Operating Expense Increases and Real Estate Tax Increasesfull.