Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 3 contracts
Sources: Industrial Lease (Bway Corp), Industrial Lease (Bway Corp), Industrial Lease (Bway Corp)
Payment of Rent. The Annual As used herein, “Rent” shall include Base Rent, Subtenant’s Share of Master Lease Additional Rent, Subtenant’s Share of Sublandlord Operating Expenses and all other additional rent, costs, charges and expenses to be paid by Subtenant to Sublandlord pursuant to this Sublease. Rent herein reserved or payable shall be paid at Sublandlord’s election, (i) to Sublandlord’s address for payment of Rent set forth in equal consecutive monthly instalments the Defined Terms, or (ii) to such other payee and/or at such other place as Sublandlord may designate from time to time in advance on writing, in lawful money of the United States of America, as and when the same become due and payable, without demand therefor and without any deduction, set-off or abatement whatsoever, except as expressly, provided otherwise in this Sublease or the Master Lease. Subtenant shall be required to pay Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses, and any additional rent payable hereunder, notwithstanding any dispute regarding such obligation, unless and until such dispute is finally resolved in favor of Subtenant (or Sublandlord, in any dispute relating to payments made by Sublandlord under the . Master Lease). In the event the first day of each and every month during the Term. Subject to section 4.3, Sublease Term shall not be the first monthly instalment day of a calendar month or the last day of the Annual Sublease Term is not the last day of the calendar month, Base Rent shall be paid by the Tenant on the Commencement Date and Subtenant’s Share of the Term. The Landlord shall remit to the Tenant, before each Master Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses shall then be established for said Lease Year appropriately prorated based on that estimatethe number of calendar days. The Additionally, Subtenant shall pay to Sublandlord, as additional rent hereunder, within twenty (20) days after written request therefor, any other payments for which Sublandlord shall become responsible to Master Landlord or Sublandlord under the Master Lease or this Sublease, including, but not limited to, additional rent arising (i) by reason of Subtenant’s request for extraordinary services or utilities (such as replacement lighting) from Master Landlord or Sublandlord, or (ii) as a result of Subtenant’s Event of Default hereunder. By the later of 120 days following the end of each calendar year or 30 days following Sublandlord’s receipt of the year end true-up statement from Master Landlord, Sublandlord shall render Subtenant a statement in reasonable detail and according to usual accounting practices certified by a representative of Sublandlord, showing for the preceding calendar year or fraction thereof, as the case may from time to time during a be, the Subtenant’s Share of Master Lease Year re-evaluate its estimate of such Additional Rent and Subtenant’s Share of the Management Fee, Sublandlord Operating Expenses and in such case other costs and expenses. Said statement to be rendered to Subtenant also shall notify the Tenant in writing of the re-evaluation and establish monthly payments show for the unexpired period of such Lease Year preceding year or of such part only of a Lease Yearfraction thereof, so that after as the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimatecase may be, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by Subtenant on account of Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses and the Tenant amount of remaining due from, or overpaid by, Subtenant for the year or other period covered by the statement. If such statement shows a balance remaining due to Sublandlord, Subtenant shall pay same to Sublandlord on or before the Landlordthirtieth (30th) day following receipt by Subtenant of said statement. Any balance shown as due to Subtenant shall be credited against Annual Base Rent next due, or refunded to Subtenant if the Sublease Term has then expired and Subtenant has no further obligation to Sublandlord. Subtenant shall have the right to examine, audit and photocopy Sublandlord’s books and records relating to Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses for any calendar year for a period of three (3) months following the date that Subtenant receives the statement of actual Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses; provided, however, that (a) Subtenant may exercise such right only once per twelve (12) month period; and (b) Subtenant signs a confidentiality agreement in form reasonably satisfactory to Sublandlord. Subtenant shall give Sublandlord not less than thirty (30) days’ prior written notice of its intention to examine and audit such books and records, and such examination and audit shall take place at the main office of Sublandlord. All costs of the examination and audit shall be performed by a certified public accountant and shall be on a non-contingent fee basis and shall be borne by Subtenant; provided, however, that if such examination and audit establishes that Subtenant’s Proportionate Share of Operating Expenses and Taxes for the year in question are less than the amount set forth on the Sublandlord’s statement of Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses by at least five percent (5%), then appropriate adjustments will be Sublandlord shall pay the reasonable costs of such examination and audit. If the payments made by Subtenant for such year are more than Subtenant’s required payment on account thereof for such Operating Year, Sublandlord shall promptly refund such overpayment. If the payments made by Subtenant for such year are less than Subtenant’s required payment on account thereof for such Operating Year, Subtenant shall pay the deficiency to Sublandlord within thirty (30) days following the delivery after conclusion of the aboveexamination and audit as well as Sublandlord’s actual out-mentioned statementof-pocket costs in connection with such examination and audit. The obligation to make such refund or payment for any period within the Lease Term shall survive expiration of the Sublease Term. If Subtenant does not elect to exercise its right to examine and audit Sublandlord’s books and records for any calendar year within the time period provided for by this Section, Subtenant shall have no further right to challenge Sublandlord’s statement as to Subtenant’s Share of Master Lease Additional Rent and Subtenant’s Share of Sublandlord Operating Expenses and other costs and expenses.
Appears in 3 contracts
Sources: Real Estate License Agreement, Real Estate License Agreement (Editas Medicine, Inc.), Real Estate License Agreement (Editas Medicine, Inc.)
Payment of Rent. The Annual Base (a) Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord’s address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, ▇▇▇▇ Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate ▇▇▇▇ shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term for which a payment of rent is due. The Base Rental for the said first full month of the Lease Year. Should Term for which a payment of rent is due (i.e., the sixth [6th] full month of the Lease Term) plus an estimated monthly amount of Tenant’s Share of Operating Costs described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share of Operating Costs, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Operating Costs shall be prorated for such Additional Rent and year according to the number of days of the Management Fee then determined by Lease Term in such year.
(b) Notwithstanding anything herein to the Landlord contrary, no Base Rental or Tenant’s Share of Operating Costs shall be greater or less than due for the total first five (5) months of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term.
Appears in 3 contracts
Sources: Office Lease Agreement, Office Lease Agreement (Aptinyx Inc.), Office Lease Agreement (Aptinyx Inc.)
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments Resident agrees to pay in advance the Monthly Rent for the Home in the amount set forth in Section 1 on the first day of each and every month during the Term. Subject The Monthly Rent is due, without deduction or demand, at the Property Manager’s office. Payment by personal check is a privilege accorded by the Owner at its sole discretion and the Owner specifically reserves the right to section 4.3demand payment by certified check or money order for any and all sums, including Additional Rent, due under this Agreement. Further, the first monthly instalment Resident agrees that any sums received by the Owner or Property Manager from Resident may be applied, at its sole discretion, in part or whole, to any obligation due under this Agreement, despite contrary or conflicting directions, verbal or written, appearing with or on the remittance proffered by the Resident. Resident shall make all Monthly Rent and Additional Rent payments in full. Any failures by Resident to pay all rent when due shall, at Owner’s election, cause all Annual Rent to be immediately due and payable. Payment or receipt of a rental payment of less than the Annual Base Rent amount stated in this Agreement shall be paid by deemed to be nothing more than partial payment on that month’s account. Under no circumstances shall Owner’s acceptance of a partial payment forfeit Owner's right to (i) collect the Tenant balance due on the Commencement Date account, (ii) send a notice of termination of tenancy and/or commence an eviction or other proceedings for a non-payment of rent, despite any endorsement, stipulation, or other statement on any check. Resident agrees that Monthly Rent is subject to increase during the term of this Agreement for increases in utility rates and heating fuel charges. The Rent is based in part on utility rates and charges and heating fuel charges. In the event the costs of any of these items are increased over the amounts allocated for their payment or capital improvements are made to the Development, upon thirty (30) days' advance written notice of such increase by registered or certified mail, return receipt requested, the Monthly Rent Payment due thereafter will be proportionately increased through the remainder of the Term. The Landlord Written documentation of the basis upon which such increase is calculated shall remit be provided to Resident at the address listed at Section 1.a. If the increased Monthly Rent Payment is more than five percent (5%) above the then current Monthly Rent Payment, Resident may elect to terminate this Agreement and vacate the Home prior to the Tenant, before each Lease Year, effective date of increase by providing the estimated amount Owner written notice by registered or certified mail of such election within fifteen (15) days after the receipt of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and notice of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimateincrease. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.[ ]
Appears in 3 contracts
Sources: Resident Occupancy Agreement, Resident Occupancy Agreement, Resident Occupancy Agreement
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section 4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be paid absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant on assumes the Commencement Date risk of the Termforegoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent. The Landlord shall remit Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the Tenantcontrary. Notwithstanding anything to the contrary in this Lease, before each Lease YearTenant may at its election pay any Rent (as defined below) to Landlord by electronic transfer (including ACH), and Tenant shall use the estimated amount ACH information set forth in Section 4 of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Summary in order to third parties) and of the Management Fee for that period, and the monthly effect such payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate using electronic transfer of funds through its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementbank.
Appears in 2 contracts
Sources: Lease (Aethlon Medical Inc), Lease (Aethlon Medical Inc)
Payment of Rent. The Annual Tenant shall pay all Base Rent and Additional Rent (defined below) (collectively, “Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate from time to time. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of “Direct Expenses” (defined in Section 4.1) (collectively, “Monthly Rent”) shall be paid in equal consecutive monthly instalments in advance on or before the first day of each and every calendar month during the Term. Subject to section 4.3; provided, however, that the installment of Base Rent for the first monthly instalment full calendar month for which Base Rent is payable hereunder and the installment of Direct Expenses for the Annual Base first full calendar month for which such Additional Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein, all other items of Additional Rent shall be paid by the Tenant within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the Commencement Date actual number of the Termdays in such month. The Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord shall remit to the Tenantor its designee within five (5) business days after its due date, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge equal to third parties) and 5% of the Management Fee for overdue amount (provided, however, that period, and the monthly payments of Additional Rent and Management Fee which are payable such late charge shall not apply to the Landlord first such late installment of Rent in any calendar year unless such installment is not received within five (5) business days after notice from Landlord); and (b) any Rent that is not paid within 10 days after its due date shall then be established for said Lease Year based on that estimatebear interest, from its due date until paid, at the lesser of 12% per annum or the highest rate permitted by Law (defined in Section 5). The Landlord may from time Tenant’s covenant to time during a Lease Year re-evaluate its estimate pay Rent is independent of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (every other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementcovenant herein.
Appears in 2 contracts
Sources: Office Lease (Ubiquiti Networks, Inc.), Office Lease (Ubiquiti Networks, Inc.)
Payment of Rent. The Annual Base Rent shall be paid paid:
(a) in equal consecutive monthly instalments installments, in advance advance, on the first day of each and every month during of the Term. Subject to section 4.3; provided that if the Term does not begin or end on the last day of a month, the first Annual Base Rent for that partial month shall be prorated by multiplying the monthly instalment rent by a fraction, the numerator of which is the number of days of the partial month included in the Term and the denominator of which is the total number of days in the full calendar month; and,
(b) to Landlord, at the address set forth in Section 23.2 hereof, or as Landlord otherwise may specify in writing to Tenant; provided, however, that Landlord shall have the right, by written instruction to Tenant, to require Tenant to pay any Fee Mortgage Obligations then due and payable (up to the amount of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit then due and payable) directly to the TenantFee Mortgagee, before each Lease Yearand if Landlord exercises such right, the estimated amount of the Additional Fee Mortgage Debt Service (but not the Fee Mortgage Reserve Requirements) paid by Tenant directly to the Fee Mortgagee shall be credited against and applied toward Tenant's Annual Base Rent (other than the portion thereof which the obligations hereunder. Tenant shall pay provide Landlord with a copy of each payment of any Fee Mortgage Obligation made by Tenant directly to third parties) and the Fee Mortgagee concurrent with Tenant's making of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable such payment to the Landlord shall then be established for said Lease Year based on that estimateFee Mortgagee. The Landlord may from rescind the rights granted Tenant under this Section 5.2(b) at any time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) on 30 days following the delivery of the above-mentioned statementwritten notice.
Appears in 2 contracts
Sources: Lease Agreement (Harborside Healthcare Corp), Lease Agreement (Harborside Healthcare Corp)
Payment of Rent. The Annual Base Tenant shall pay the Yearly Fixed Rent shall be paid as set forth in equal consecutive monthly instalments the Reference Data Pages by Monthly Payments in advance advance, without setoff, offset or deduction, commencing on the Rent Commencement Date, and thereafter continuing on the first day of each month thereafter, and every month during shall pay Additional Rent in the Termmanner set forth herein. Subject to section 4.3, the first monthly instalment of the Annual Base Rent All rent and other payments shall be paid by the Tenant on the Commencement Date of the Term. The made to Landlord at Landlord’s Initial Address for Payment or at such other location and to such person as Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may designate from time to time during in writing. If the Rent Commencement Date and/or Term Commencement Date occurs on a day other than the first day of a month, the first Monthly Payment and Additional Rent, as applicable, shall be appropriately pro-rated for that month and added as Rent for the First Lease Year reYear. If Tenant shall fail to pay any installment of Yearly Fixed Rent or Additional Rent within ten (10) days after the date due, Landlord shall be entitled to collect a charge equal to five (5%) percent of the amount due to cover Landlord’s administrative expense in handling late payments; provided, that with respect to the first such late payment in any consecutive 12-evaluate its estimate month period, no late payment shall be due if Tenant makes payment within one (1) business day after notice (which may be by telephone or e-mail) from Landlord. In addition, Tenant shall pay interest at the rate of such one (1%) percent (the “Default Rate”) for each month or any fraction thereof on any Rent not paid within ten (10) days after the date due. The sending of invoices to Tenant on one or more occasions shall not require Landlord to continue that practice for Yearly Fixed Rent or on account of regular monthly installments of Additional Rent. The term “Rent” as used in this Lease shall include Yearly Fixed Rent, Additional Rent and of the Management Fee, all other sums and in such case shall notify the charges payable by Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementhereunder.
Appears in 2 contracts
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly all Rent to third partiesLandlord on the day(s) and specified therefor, without notice, demand, deduction or offset, in lawful money of the Management Fee United States of America, to the Address for that periodPayment of Rent or at such other place as Landlord may from time-to-time designate in writing to Tenant. If Landlord so notifies Tenant in writing (and Tenant is able to reasonably comply), and the monthly Rent payments shall be made by electronic money transfers in accordance with Landlord’s written directive therefor. Tenant shall be obligated to pay Rent when due regardless of whether Tenant receives a statement therefor. If Fixed Minimum Rent or any item of Additional Rent increases or decreases during the Term and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should if the amount of such Additional Rent and increase or decrease has not been determined as of the Management Fee date such Rent is to be paid, then determined by (a) Tenant shall continue to pay such Rent in the amount payable for the immediately preceding month (or other period for which such Rent is due) and (b) within thirty (30) days after the date Landlord be greater notifies Tenant of such adjusted Rent, Tenant shall pay to Landlord any additional amount owed due to such adjusted Rent or less than the total if Tenant has paid Rent in excess of the amounts already paid by adjusted Rent, such excess shall be credited against the Tenant to the Landlordnext monthly payment(s) of Rent until such excess has been exhausted; however, then appropriate adjustments will be made within thirty (30) days following the delivery Refund Date, any such excess shall be refunded to Tenant. Landlord and Tenant may each use the other’s Rent Inquiry Address to communicate to the other party any inquiries relating to the calculation of the above-mentioned statementvarious components constituting Rent or the payment of Rent.
Appears in 2 contracts
Sources: Lease Agreement (Tradeshow Marketing Co. Ltd.), Lease Agreement (Tradeshow Marketing Co. Ltd.)
Payment of Rent. The Annual Base Monthly Rent and Adjustments shall be paid due and payable, in equal consecutive monthly instalments advance, beginning on the Rent Commencement Date; provided that one (1) full installment of Base Monthly Rent and Adjustments totaling $24,825.33 is due and payable on the date of this Lease, such to be applied to the first installment of Base Monthly Rent and Adjustments due on the Rent Commencement Date and thereafter applied to Base Monthly Rent and Adjustments until fully applied. Any installment of Base Monthly Rent or Adjustments due for any fractional calendar month shall be prorated based upon the actual number of days in advance that month. If the Rent Commencement Date occurs on the first day of each and every a calendar month, then the month during in which the Term. Subject to section 4.3, Rent Commencement Date occurs shall be the first monthly instalment complete calendar month after the occurrence of the Annual Rent Commencement Date for purposes of determining the date upon which Base Monthly Rent adjusts. As used in this Lease, RENT shall mean the Base Monthly Rent and all other amounts provided for in this Lease to be paid by Tenant to Landlord, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. All Rent (hereinafter defined) shall be paid by at the Tenant on times and in the Commencement Date amounts provided for herein in legal tender of the Term. The United States of America to Landlord shall remit at the address specified in Paragraph 32 hereof or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and of the Management Feeshall be paid without notice, and demand, abatement, deduction or offset (unless expressly provided for elsewhere in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third partiesthis Lease) and shall be a covenant of the Management Fee for the said Lease YearTenant independent of any obligation of Landlord under this Lease. Should the amount Tenant's obligation to pay any installment of Rent shall not be deemed satisfied until such Additional installment of Rent and of the Management Fee then determined has actually been received by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement."
Appears in 2 contracts
Sources: Sublease (Mannatech Inc), Commercial Lease Agreement (Mannatech Inc)
Payment of Rent. The Annual (a) All rent shall be due and payable in lawful money of the United States of America at the address of Landlord set forth below Landlord’s signature without deduction or offset and without prior demand or notice, unless otherwise specified herein. Monthly Base Rent and Additional Rent shall be paid payable monthly, in equal consecutive monthly instalments in advance advance, on the first day of each and every month during the Termmonth. Subject to section 4.3, the first monthly instalment of the Annual Base Additional Rent shall be paid by the Tenant payable monthly, in advance, on the Commencement Date first day of each month for the entire Premises for the entire term of his Lease. Tenant’s obligation to pay rent for any partial month at the commencement of the Term. The Landlord shall remit term, for any partial month immediately prior to a rental adjustment date (if the Tenant, before each Lease Year, the estimated amount of the Additional Rent (rental adjustment date is other than the portion thereof which first day of the calendar month), and for any partial month at the expiration or termination of the term shall be based upon the number of days in such month.
(b) If any installment of Monthly Base Rent, Additional Rent or any other sum due from Tenant is not received by Landlord within five (5) days after the same is due, Tenant shall pay directly to third partiesLandlord an additional sum equal to five percent (5%) and of the Management Fee for amount overdue as a late charge. The parties agree that period, this late charge represents a fair and reasonable estimate of the monthly payments costs that Landlord will incur by reason of Additional Rent and Management Fee which are payable the late payment by Tenant. Acceptance of any late charge shall not constitute a waiver of Tenant’s default with respect to the Landlord overdue amount. Any amount not paid within ten (10) days after ▇▇▇▇▇▇’s receipt of written notice that such amount is due shall then be established for said Lease Year based on that estimate. The Landlord may bear interest from time to time during a Lease Year re-evaluate its estimate the date due until paid at the lesser rate of such Additional Rent and (1) the prime rate of interest as published in the Management Fee“Wall Street Journal,” plus two percent (2%) or (2) the maximum rate allowed by law (the “Interest Rate”), and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit addition to the late payment charge. Initials: Landlord _____ Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.__OA___
Appears in 2 contracts
Sources: Lease (BillionToOne, Inc.), Lease (BillionToOne, Inc.)
Payment of Rent. The Annual Base All Rent, required to be paid in monthly installments, shall be paid in advance on the twentieth (20th) day of each calendar month during the Lease Term. All Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment lawful money of the Annual Base United States, without any abatement, deduction or offset whatsoever (except as specifically provided herein), and without any prior demand therefore. All Rent shall be paid by to the Tenant on Master Trustee for deposit in the Commencement Date Gross Revenue Fund (as that term is defined in the Loan Documents), and at such address as the Master Trustee notifies Tenant, or at such other place as Landlord may designate from time to time, with the approval of the Term. The Master Trustee as long as Landlord shall remit has any obligations pursuant to the terms of the Loan Documents. Tenant’s obligation to pay Rent shall be prorated at the commencement and expiration of the Lease Term over any partial month. In the event that Tenant receives a notice (each an “Additional Payment Notice”) from either Landlord or the Master Trustee that the Master Trustee has not received the required Base Rent component of Rent with respect to a Related Project on or before that date that such required payment is due, before each Lease Yearthen Tenant shall pay to the Master Trustee, the estimated amount within three (3) business days after Tenant's receipt of the Additional Rent (other than Payment Notice, the portion thereof which Additional Monthly Payment. Landlord covenants to immediately provide Tenant with a copy of any Additional Payment Notice received by Landlord pursuant to the Tenant shall pay directly to third parties) and terms of the Management Fee for that periodMaster Indenture. As used herein, and the monthly payments of “Additional Rent and Management Fee which are payable to Monthly Payment” shall mean the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of amount set forth in such Additional Rent and of Payment Notice, which shall be the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount Tenant's Proportionate Share of the Additional Monthly Payment. As used herein “Proportionate Share” shall mean the amount required to be paid by Tenant to ensure that all of the required Base Rent component of Rent with respect to all of the Related Projects (other than as that term is defined in the portion thereof which Master Indenture) have been timely made. Promptly after the Master Trustee refunds to Landlord the Additional Monthly Payment amount paid by Tenant pursuant to this Section 3.3 or otherwise releases or make such funds available to Landlord pursuant to the terms of the Loan Documents, Landlord shall refund such amount to Tenant. For clarity, the aforementioned refund mechanism applies with respect to the refund of payments made by Tenant with respect to a Related Project after the tenant with respect to such Related Project has paid directly to third parties) rent and of the Management Fee for Master Trustee has sufficient funds available in the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementGross Revenue Fund account.
Appears in 2 contracts
Sources: Lease Agreement, Sublease Agreement
Payment of Rent. The Annual Tenant shall pay all Base Rent and Additional Rent (defined below) (collectively, “Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate from time to time. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of “Direct Expenses” (defined in Section 4.1) (collectively, “Monthly Rent”) shall be paid in equal consecutive monthly instalments in advance on or before the first day of each and every calendar month during the Term. Subject to section 4.3; provided, however, that the installment of Base Rent for the first monthly instalment full calendar month for which Base Rent is payable hereunder and the installment of Direct Expenses for the Annual Base first full calendar month for which such Additional Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein, all other items of Additional Rent shall be paid by the Tenant within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the Commencement Date actual number of the Termdays in such month. The Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord shall remit to the Tenantor its designee within five (5) business days after its due date, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge equal to third parties) and 5% of the Management Fee for overdue amount; and (b) any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at the lesser of 12% per annum or the highest rate permitted by Law; provided, however, that not more than once during each twelve (12) month period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time give Tenant a notice of delinquency with respect to time during a Lease Year re-evaluate its estimate such late payment of such Additional Rent and of the Management FeeRent, and in a five (5) day grace period before imposing such case shall notify the Tenant in writing late charge and/or accruing interest on unpaid Rent. Tenant’s covenant to pay Rent is independent of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (every other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementcovenant herein.
Appears in 1 contract
Sources: Office Lease (Immersion Corp)
Payment of Rent. The Annual All Base Rent, Percentage Rent, Additional Rent and other sums shall be paid in equal consecutive monthly instalments in advance on the first day to Landlord without demand and without deduction, set-off, claim or counterclaim of each any nature whatsoever which Tenant may have or allege to have against Landlord. All such Rent and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent other sums shall be paid to Landlord in legal tender of the United States in accordance with Section 1.1(n). Except to the extent that Rent is paid via ACH, such being processed pursuant to the immediately following paragraph below, Rent checks are to be made payable to Landlord at ▇▇▇ ▇. ▇▇▇▇▇ Blvd, Winter Park, FL 32789, or such other person, firm or corporation as the Landlord may hereafter designate in writing. Tenant agrees to pay a Ten dollar ($10.00) processing fee for submitting payment via check, cashier’s check or money order.The obligation of Tenant to pay Rent is independent of any other covenant, agreement, term or provision of this Lease. At Landlord’s option, Tenant shall make payments of Rent and all other payments to Landlord required by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent via Automated Clearing House Transfer (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant “ACH Payment”); in accordance with the previous estimateterms and conditions of this Paragraph. If Landlord shall elect to have payments made by ACH Payment, Landlord shall provide notice to Tenant of same and Tenant shall, within fifteen (15) days of the date of such Additional notice from Landlord, execute and deliver to Landlord a complete Authorization Agreement in the form set forth in Exhibit I attached hereto or on such other form as shall be reasonably requested by Landlord, together with a voided check for account verification, establishing arrangements whereby payments of the Rent and other funds are transferred by ACH Payment initiated by Landlord from an account established by Tenant at a financial institution approved by Landlord. Thereafter, Tenant shall continue to pay all rental and other obligations by ACH Payment initiated by Landlord unless otherwise directed by Landlord. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the Management Fee is paid in full during such Lease Year account Tenant designates for the ACH debit or during any other delay resulting from Tenant’s actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be, a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount default of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease.
Appears in 1 contract
Sources: Retail Lease Agreement
Payment of Rent. The Annual Base (a) Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, ▇▇▇▇ Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate ▇▇▇▇ shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. The Base Rental for the said first full month of the Lease Term for which a payment of rent is due and, if the first full month of the Lease Term falls on a date that is after the end of the Base Year. Should the , an estimated monthly amount of Tenant’s Share of Basic Operating Costs and Tenant’s Share of Taxes described in Section 6(a) herein, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be applied to the payment of Base Rental and Tenant’s Share, as the case may be, by Landlord for the appropriate periods without any further notice by Tenant.. If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant’s Share of Basic Operating Costs and Tenant’s Share of Taxes shall be prorated for such Additional Rent and year according to the number of days of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Payment of Rent. The Annual Base All payments of monthly Rent shall must be paid in equal consecutive monthly instalments in advance made by check, cashier’s check, money order (with apartment unit clearly identified on the first day check), automatic clearing house process (“ACH”)(Landlord will provide ACH set up information upon request), or credit card. Credit Card payments will incur an online transaction fee of each and every month 2.5% transaction amount. No cash will be accepted. Credit Card payments must be made via Landlord’s Website. Landlord reserves the right to require all payments of monthly Rent to be made by ACH or other form of automated payment at any time after: (i) a monthly Rent or other payment to Landlord that is more than five (5) days late; (ii) any check is returned by Tenant’s bank (for any reason); or (iii) Tenant is in default under this Lease (for any reason) on a second occasion during the Term. Subject In such case, Landlord will provide Tenant written notice, including ACH set-up instructions. Tenant will promptly set up an ACH for the payment of monthly Rent. IF CHECKS ARE RETURNED FROM A BANK OR PAYMENT DENIED BY A CREDIT CARD MERCHANT FOR ANY REASON WHATSOEVER, A SERVICE FEE OF THIRTY DOLLARS ($30.00), OR SUCH HIGHER FEE AS PERMITTED BY STATUTE, WILL BE CHARGED TO THE TENANT. Failure to section 4.3, comply with ▇▇▇▇▇▇▇▇’s ACH policies within ten (10) business days after written notice from Landlord will be deemed a default under this Lease. LATE MONTHLY RENT PAYMENTS ARE SUBJECT TO A TWENTY DOLLAR ($20.00) HANDLING FEE AND LEGAL ACTION MAY BE TAKEN ONE (1) DAY AFTER THE RENT DUE DATE SET FORTH IN SECTION 2 OF THE LEASE. The late fee will automatically be charged to ▇▇▇▇▇▇’s account on the first monthly instalment 5th day of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof month in which the Tenant shall pay directly Rent payment is due. In the event any handling fee referred to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which in this paragraph or charges described in this Lease are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Yearnot timely paid, the Landlord may consider the handling fee or charges to be additional Rent, which shall remit to be immediately due and payable, and Landlord may deduct them from the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementTenant's security deposit.
Appears in 1 contract
Sources: Rental Addendum
Payment of Rent. The Annual (a) Except as provided in subparagraph (b) below, the Base Rent and Additional Rent shall be paid payable by Tenant in equal consecutive monthly instalments installments, together with all applicable sales taxes, on the first ) day of each month, in advance advance, at Landlord’s address set forth in Section 1.01(a) or at such other place designated by Landlord from time to time, without any prior demand and without any deduction, holdback or setoff. All Rent payments shall be set up with the Tenant’s Bank to allow Landlord to use Automated Clearing House (ACH) to transfer the funds on the applicable Rent payment date.
(b) The Tenant shall make payments of Rent in addition to or in lieu of monthly installments of Rent as follows: Payment Date Amount* Note On or before December 15, 2009 100% of Lease Year 1 Base Rent $373,520.00 plus 100% of Lease Year 1 estimated Premises Operating Expenses (to be determined under Lease) This payment satisfies Tenant’s obligation for monthly Rent payments during Lease Year 1** * Plus in all events applicable sales taxes. ** If the Expansion is completed during Lease Year 1 monthly Rent payments shall commence as to the Expansion.
(c) If the Expansion is constructed, the Tenant shall receive a credit for future Rents to be paid after the completion of the Expansion, equal to the Expansion Cost Contribution or a reduced portion thereof as provided herein. · If the Tenant provides the Notice of Expansion on or before July 31, 2009, or the Expansion reaches Completion on or before March 31, 2010, the total credit shall be equal to the total Tenant’s Expansion Cost Contribution. The credit shall be applied based upon the total number of whole months of the Lease term remaining after the Expansion Completion divided into the Expansion Cost Contribution to determine the “Monthly Credit Amount”. · If the Tenant provides the Notice of Expansion after July 31, 2009, and the Expansion reaches Completion after March 31, 2010, the total credit shall be equal to the Tenant’s Expansion Cost Contribution reduced by that sum multiplied by: (i) the number of full months elapsed from January 1, 2010 through the Completion; and (ii) 0.056% (collectively “Reduced Credit”). The Monthly Credit Amount shall then be calculated by dividing the Reduced Credit by the number of full months remaining under the term of the Lease after the Completion Date. · The applicable Monthly Credit Amount shall commence application against Rent payments on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that new month after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementExpansion Completion.
Appears in 1 contract
Sources: Lease (Teltronics Inc)
Payment of Rent. The Annual Base (a) Tenant shall pay to Landlord, without notice or demand, and without any set-off, counterclaim, abatement or deduction whatsoever, except as otherwise expressly set forth in this Lease, in lawful money of the United States by wire transfer of funds to Landlord's account, as designated by Landlord, or by check drawn upon a bank reasonably approved by Landlord, (i) Fixed Rent shall be paid in equal consecutive monthly instalments installments, in advance advance, on the first (1/st/) day of each and every calendar month during the Term, commencing on the initial Rent Commencement Date, and (ii) Additional Rent, at the times and in the manner set forth in this Lease.
(b) Provided no uncured Material Default shall then exist under this Lease, Tenant shall have the right to require Landlord to advance to Tenant up to a maximum aggregate amount of $10.00 multiplied by the Agreed Area of the Premises (the "Supplemental Allowance"). Subject Such sum shall be elected and used by Tenant in its sole discretion in accordance with Paragraph C.2 of the Design and Construction Agreement attached as Exhibit C. The amount of the Supplemental Allowance Tenant --------- elects to section 4.3draw shall be treated as an assumed loan, which shall be fully amortized over the Initial Term in one hundred thirty-two (132) equal monthly payments. Tenant shall pay to Landlord, as an addition to Fixed Rent (including without limitation for purposes of determining damages, if any under Section 19.2) but not escalated with Fixed Rent, beginning with the first monthly instalment full month of the Annual Base Rent shall first Lease Year (if such amount can be paid calculated by such date) the Tenant monthly amortized amount of the Supplemental Allowance together with interest on the Commencement Date outstanding balance of the Supplemental Allowance at a fixed annual rate equal to twelve percent (12%) per annum. If the first full calendar month of the first Lease Year has already occurred, or any other months have already occurred, as of the date such amount is calculated, Tenant shall pay all monthly amortization payments which correspond to months that have already elapsed at the time of its first monthly payment. In the event this Lease shall terminate for any reason prior to the natural expiration of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated entire then unamortized portion of the Supplemental Allowance shall be due and payable to Landlord as a part of Rent. Attached as Exhibit U is a sample, non-binding schedule of payments that --------- would be required assuming Tenant draws the maximum aggregate amount of the Additional Rent (other than Supplemental Allowance in one lump sum on the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for date specified in Exhibit U. The --------- parties agree that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said this Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made amended within thirty (30) days following after the delivery date on which the Supplemental Allowance is fully drawn but only to reflect the actual schedule of repayments by amending said Exhibit U. In the event Tenant --------- exercises Extension Options that contemplate a continuation of the above-mentioned statementexisting terms and conditions, such amortization will be eliminated from Rent payments (but the failure to repay the Supplemental Allowance in full as of the end of the Initial Term will be a default hereunder, subject to applicable notice and cure rights). Tenant may, from time to time throughout the Initial Lease Term, prepay in full and without penalty, the unamortized principal balance of amounts amortized into Fixed Rent as aforesaid, provided (i) Tenant shall give Landlord thirty (30) days prior notice of such prepayment, (ii) Tenant shall include with any such prepayment the amount of accrued but unpaid interest, and (iii) the parties will promptly enter into an amendment to this Lease adjusting the Fixed Rent as may be necessary to reflect the effect of any such prepayment. Upon receipt of the entire unamortized amount of the Supplemental Allowance, Landlord shall confirm the payoff of the Supplemental Allowance in writing to Tenant.
Appears in 1 contract
Sources: Deed of Lease (Verisign Inc/Ca)
Payment of Rent. The Annual Base Tenant shall pay the Yearly Fixed Rent shall be paid as set forth in equal consecutive monthly instalments the Reference Data Pages by Monthly Payments in advance advance, without setoff, offset or deduction, commencing on the Rent Commencement Date, and thereafter continuing on the first day of each month thereafter, and every month during shall pay Additional Rent in the Termmanner set forth herein. Subject to section 4.3, the first monthly instalment of the Annual Base Rent All rent and other payments shall be paid by the Tenant on the Commencement Date of the Term. The made to Landlord at Landlord’s Initial Address for Payment or at such other location and to such person as Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may designate from time to time during in writing. If the Rent Commencement Date and/or Term Commencement Date occurs on a Lease Year reday other than the first day of a month, the first Monthly Payment and Additional Rent, as applicable, shall be appropriately pro-evaluate its estimate of such Additional rated for that month and added as Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such First Lease Year. After each Lease YearIf Tenant shall fail to pay any installment of Yearly Fixed Rent or Additional Rent within ten (10) days after the date due, the Landlord shall remit be entitled to collect a charge equal to five (5%) percent of the amount due to cover Landlord’s administrative expense in handling late payments; provided, that with respect to the first such late payment in any consecutive 12-month period, no late payment shall be due if Tenant a statement indicating makes payment within one (1) business day after notice (which may be by telephone or e-mail) from Landlord. In addition, Tenant shall pay interest at the actual amount rate of one (1%) percent (the Additional “Default Rate”) for each month or any fraction thereof on any Rent not paid within ten (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (3010) days following after the delivery date due. The sending of the above-mentioned statement.invoices to Tenant on one or more occasions shall not require Landlord to continue that practice for Yearly Fixed Rent or on account of regular monthly installments of Additional Rent. The term “
Appears in 1 contract
Sources: Lease (Cyber-Ark Software Ltd.)
Payment of Rent. The Annual 3.01 On the first day of every calendar month of the Lease Term commencing on the Lease Commencement Date, Tenant will pay, without deduction, abatement, or offset, prior notice or demand, Base Monthly Rent and Additional Rent at Landlord’s Notice Address. In the event that the Lease Term commences or ends on a day other than the first day of a calendar month, a prorated amount of Base Monthly Rent shall be paid in equal consecutive monthly instalments in advance due on the Lease Commencement Date and/or on the first day of each and every the final month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Lease Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that periodas applicable, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within calculated using a thirty (30) day month.
3.02 [Intentionally omitted.]
A. [Intentionally omitted.]
B. [Intentionally omitted.]
C. [Intentionally omitted.)
3.03 Any installment of Base Monthly Rent, Additional Rent or any other charge payable which is not paid within ten (10) days following the delivery after it becomes due will be considered past due and Tenant will pay to Landlord as Additional Rent a late charge equal to five percent (5%) of the above-mentioned statementdelinquent amount. All past due amounts of Base Monthly Rent and Additional Rent, including, without limitation, late charges and all other amounts payable by Tenant under the terms of this Lease, shall bear interest at the lesser of (i) twelve percent (12%) per annum, or (ii) the maximum per annum rate permitted under applicable law (the “Default Rate”) from the due date thereof until paid. All such interest shall constitute Additional Rent due under this Lease.
3.04 [Intentionally omitted.]
Appears in 1 contract
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Tenant on the Commencement Date Building is not fully rented and occupied (fully rented and occupied shall mean that ninety-five percent (95%) of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount Rentable Square Feet of the Additional Rent Building is occupied by tenants under lease), Landlord may elect to make an appropriate adjustment of variable Expenses for such year to determine the Expenses that would have been paid or incurred by Landlord had the Building been fully rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses for such year; (other iv) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the annual rate of five percentage (5%) points above the Prime Rate then in effect, but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive percent (5%) and of such payment; (v) if changes are made to this Lease or the Management Fee for that periodBuilding changing the number of square feet contained in the Premises or in the Building, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant, or an independent certified accounting firm retained by Tenant on that estimate. The Landlord may from an hourly fee basis (and not on a contingency fee basis), shall have the right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery furnishing to Tenant of the above-mentioned statementannual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such thirty (30) day period, such statement shall be considered as final and accepted by Tenant; (vii) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall survive the termination or expiration of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the previous calendar year until Landlord delivers such estimate, at which time Tenant shall pay retroactively the increased amount for all previous months of such calendar year.
Appears in 1 contract
Payment of Rent. The Rent provided for in this Article 5 shall be paid by the Tenant as follows:
a. The Annual Base Rent shall be paid in equal consecutive monthly instalments installments in advance on of the first day of each and every month during the Term. Subject to section 4.3, the The first monthly instalment installment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord Where the Commencement Date of the Term is the first day of a month, such installment shall remit to be in respect of such month; where the Tenant, before each Lease YearCommencement Date of the Term is not on the first day of a calendar month, the estimated Annual Rent for the period from the Commencement Date of the Term at the first day of the next ensuing calendar month shall be pro-rated on a per diem basis and paid on the first day of such month and the installment of the Annual Rent paid upon the Commencement Date of the Term shall be in respect of the Annual Rent for the first full calendar month of the Term; thereafter in either case subsequent monthly installments shall each be in advance on the first day of each ensuing calendar month during the Term.
b. The amount of the Additional Rent (other than the portion thereof pursuant to Article 5.1b which the Tenant is to pay shall be estimated by the Landlord for such period as the Landlord may determine. The Tenant agrees to pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established such amount in monthly installments in advance during such period on the dates and at the times for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and payment of the Management FeeAnnual Rent provided for in this Lease. As soon as reasonably possible after the end of the period for which such estimated payments have been made, and in such case shall notify the Tenant in writing shall be advised of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount required to be paid as Additional Rent pursuant to Article 5.1c and if necessary, an adjustment shall thereupon be made between the parties. The Additional Rent for the first year of the Additional term is currently estimated at three Dollars ($3.00) per square foot.
c. The Tenant acknowledges that the Annual Rent is calculated on the basis of the Rentable Area of the Leased Premises being approximately 5,014 square feet at a rate of eight Dollars (other $8.00) for each square foot of Rentable Area. The Tenant agrees that the Landlord may adjust the Annual Rent in the event that the Rentable Area of the Leased Premises is found to be different than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the Rentable Area stated above-mentioned statement.
Appears in 1 contract
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord’s address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, ▇▇▇▇ Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate ▇▇▇▇ shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined Lease Term, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be greater applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or less ends at any time other than the total first day of a calendar year, the Tenant’s Share of Basic Operating Costs shall be prorated for such year according to the number of days of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Sources: Office Lease Agreement
Payment of Rent. The Annual Base Tenant shall pay to Landlord, Minimum Rent shall be paid in equal consecutive monthly instalments installments, in advance on the first day of each and every calendar month during the Termas provided in Schedule "A". Subject Tenant hereby covenants and agrees to section 4.3pay to Landlord "Minimum Rent", the first monthly instalment of the Annual Base and other charges, as herein provided which are deemed rent hereunder and collectively herein called "Rent", without any prior demand, deduction or setoff whatsoever. Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the TenantLandlord, before each Lease Yearat Landlord's Address, the estimated amount of the Additional Rent (or at such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then place or person as may be established for said Lease Year based on that estimate. The Landlord may designated in writing from time to time during by Landlord. Minimum Rent shall adjust as set out herein on each anniversary of the Rental Commencement Date. Any payment not received by Landlord by the date it is due shall be considered late and a Lease Year re-evaluate its estimate default of the terms hereof. If Rent is not received by Landlord by ten (10) days after it is due, it shall be subject to an automatic late charge of 10% of such Additional Rent and Rent. After default, all such charges, along with the late Rent, shall be paid in the form of a cashier's check, certified check or money order. Acceptance of the Management FeeRent or any portion thereof without the automatic late charge shall not constitute a waiver of such charges. The payments set out herein are compensation to the Landlord for risk and effort relating to failure to make timely payment by Tenant and are not interest. In addition to the payments set out herein any amount due from Tenant to Landlord hereunder which is not paid when due shall bear interest at the highest rate of interest allowed by law (but not to exceed eighteen percent per annum) from the date due until paid unless otherwise specifically provided herein, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. If Tenant's Rent check is returned for any reason, any applicable late charge shall continue to accrue and Tenant shall be in such case default of its obligations hereunder. Landlord's attempt to redeposit a returned check shall notify the Tenant in writing not be a waiver of the re-evaluation default resulting from the returned check and establish monthly payment shall be deemed received when the check is accepted for payment. Returned checks must be redeemed by cashier's check or money order. In the event more than two (2) Rent checks are returned, in any 12 month period, then the next 12 Rent payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts must be paid by cashier's check, certified check or money order. The first rental payment date shall be due on the Tenant in accordance with Rental Commencement Date. If the previous estimate, such Additional Rent and the Management Fee Rental Commencement Date is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (day other than the portion thereof which the Tenant has paid directly to third parties) and first day of the Management Fee for calendar month, then Tenant shall pay on the said Lease Year. Should first payment date a pro rata portion of the amount of such fixed Minimum Rent and Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant prorated on per diem basis with respect to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementfractional calendar month.
Appears in 1 contract
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iii) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the annual rate of two (2) percentage points above the rate then most recently announced by the Tenant on the Commencement Date First National Bank of the Term. The Landlord shall remit to the TenantChicago as its corporate base lending rate, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during in effect, but in no event higher than the maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay Landlord a Lease Year re-evaluate late charge for any Rent payment which is paid more than five (5) days after its estimate due date equal to five percent (5 %) of such Additional Rent payment; (iv) if changes are made to this lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (v) Tenant shall have the right to inspect Landlord’s accounting records relative to Expenses and taxes during normal business hours at any time following the furnishing to Tenant of the Management Feeannual statement of Rent Adjustment; and, unless Tenant shall take written exception to any item in any such statement within fifteen (15), such statement shall be considered as final and accepted by Tenant; (vi) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such case sums and Landlord’s obligation to refund any such sums (provided Tenant is not in default hereunder) shall notify survive the termination of this Lease; (vii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total Base Rent shown on the Schedule; (viii) Landlord may at any time change the fiscal year of the amounts already paid by Building; (ix) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (x) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent as the delivery of case may be, at the above-mentioned statementrate for the previous calendar year until Landlord delivers such estimate.
Appears in 1 contract
Sources: Office Lease (Addus HomeCare Corp)
Payment of Rent. The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. , The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Sources: Industrial Lease (Bway Corp)
Payment of Rent. The Annual Concurrently with the execution of this Lease by both parties, Tenant shall pay to Landlord the amount set forth in Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Monthly Rent. All rent required to be paid in monthly installments (e.g., the Base Monthly Rent and installments of Tenant’s Share of Common Operating Expenses) shall be paid in equal consecutive monthly instalments in advance on the first day of each and every calendar month during the Lease Term. Subject ; provided, however, that other than the monthly installments of estimated payments of Tenant’s Share of Common Operating Expenses, no installment of Additional Rent which is not to section 4.3, be paid on a monthly estimate basis shall be due prior to the later of (i) the first monthly instalment day of the Annual month after the written ▇▇▇▇ for the installment of Additional Rent is received by Tenant, or (ii) ten (10) Business Days after Tenant’s receipt of the written ▇▇▇▇ for the installment of Additional Rent. If Section K of the Summary provides that the Base Monthly Rent is to be increased during the Lease Term and if the date of such increase does not fall on the first day of a calendar month, such increase shall become effective on the first day of the next calendar month. All rent shall be paid in lawful money of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided in this Lease), and without any prior demand therefor. Rent shall be paid by the Tenant on the Commencement Date to Landlord at its address set forth in Section Q of the Term. The Landlord shall remit to Summary, or at such other place within the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The continental United States as Landlord may designate from time to time during a Lease Year re-evaluate its estimate of such Additional time. Tenant’s obligation to pay Base Monthly Rent and Tenant’s Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementTerm.
Appears in 1 contract
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid to Landlord without offset or deduction (except as otherwise expressly provided in equal consecutive monthly instalments in advance on this Lease), and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any calendar year during the Term the Building is not at least ninety-five percent (95%) occupied by tenants, Landlord may elect to make an appropriate adjustment of Expenses for such calendar year to determine the Expenses that would have been paid or incurred by Landlord had the Building been at least ninety-five percent (95%) occupied by tenants for the entire calendar year and the amount so determined shall be deemed to have been the Expenses for such calendar year; (iv) any sum due from Tenant on to Landlord which is not paid when due shall bear interest from the Commencement Date date due until the date paid at the annual rate of the Term. The Landlord shall remit to prime rate then in effect for the TenantFirst National Bank of Boston plus four percent (4%), before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive percent (5%) of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the right to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within one hundred twenty (120) days following the furnishing to Tenant of the Management Fee for that annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such one hundred twenty (120) day period, such statement shall be considered as final and accepted by Tenant; (vii) upon request of Tenant, Landlord shall furnish Tenant a copy of the monthly payments most current invoice for Taxes that has been received by Landlord from the taxing authority; (viii) in the event of Additional Rent and Management Fee which are payable the termination of this Lease prior to the Landlord determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (to the extent that Tenant is not in default hereunder) shall then be established for said Lease Year based on that estimate. The Landlord may from time survive the termination of this Lease; (ix) no adjustment to time during a Lease Year re-evaluate its estimate of such Additional the Rent and by virtue of the Management Fee, and operation of the rent adjustment provisions in such case this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total Base Rent shown on the Schedule; (x) each amount owed to Landlord under this Lease for which the date of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will payment is not expressly fixed shall be made due within thirty (30) days following the delivery of Tenant’s receipt of the above-mentioned statementstatement showing such amount is due; (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the previous calendar year until Landlord delivers such estimate; and (xii) if, after Tenant shall have made any payment of Adjustment Rent to Landlord pursuant to Section 2.B., Landlord shall receive a refund of any portion of Taxes paid by Tenant with respect to any tax period during the Term of this Lease as a result of abatement of such Taxes by legal proceedings, settlement or otherwise, Landlord shall credit to Tenant Tenant’s Proportionate Share of such refund (less the proportional pro rata reasonable expenses, including reasonable attorneys’ fees and appraisers’ fees incurred by Landlord in connection with obtaining such refund), as it relates to Taxes paid by Tenant to Landlord with respect to any such period for which a refund is obtained. Landlord represents to Tenant that Landlord has not filed for an abatement of Taxes for fiscal year 1995.
Appears in 1 contract
Payment of Rent. The Annual Base (a) Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, ▇▇▇▇ Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate ▇▇▇▇ shall relieve Tenant from the obligation to pay the Base Rental and Tenant's Share of such Additional Rent and Basic Operating Costs on the first (1st) day of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease.
(b) If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined Lease Term for which Base Rental is payable, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be greater applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or less ends at any time other than the total first day of a calendar year, the Tenant's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the amounts already paid by the Lease Term in such year.
(c) Tenant will deliver to the Landlord, then appropriate adjustments with the executed copy of this Lease, (i) the initial monthly payment for Month one (1) of Base Rental of $3,607.50, and (ii) the initial monthly payment for Month one (1) of the estimated Tenant's Share of Basic Operating Costs, which will be based on calendar year 2007 estimates until subsequently adjusted as hereinafter provided, and Landlord has estimated to be $2,537.28 per month, for a total payment to be made within thirty (30) days following the with delivery of the above-mentioned statementLease of $6144.78.
Appears in 1 contract
Payment of Rent. The Annual All Base Monthly Rent and Additional Rent shall be paid in equal consecutive monthly instalments lawful money of the United States, without any abatement, deduction, or offset for any reason whatsoever, to Landlord at such address as Landlord may designate from time to time. Should Tenant make any payment in advance which the Bank notifies Landlord that there are insufficient funds, or that the account is closed, or should Tenant not make any payment in a timely manner as set forth in Paragraph 3.4, Tenant shall, after written notice from Landlord, pay all future payments of Rent and any Additional Rent with a money order, cashier's check, or certified funds. In the event that the commencement and/or expiration dates occur on any date other than the first or last day of each the month respectively, Tenant's obligation to pay Base Monthly Rent and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base all Additional Rent shall be paid by prorated to the Tenant on actual occurrence dates for the Commencement Date month(s) in which the commencement and/or expiration dates of the TermLease so occur. The Landlord Except as otherwise expressly set forth herein, Tenant shall remit to the Tenant, before each Lease Year, the estimated amount of the make all Rent and Additional Rent payments online via the Landlord's online Tenant Web Access (TWA) portal (or such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The online method as Landlord may from time to time during a Lease Year re-evaluate its estimate require upon the giving of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within at least thirty (30) days following days’ notice to Tenant), including tenant’s initial Rent and Security Deposit payment. Landlord reserves the delivery right to block any such online payments in the event that Tenant is in default hereunder (in such case, amounts payable by Tenant must be tendered in the form of the above-mentioned statementa money order, cashier’s check, or certified funds) and/or to restrict Tenant’s ability to tender any partial payments utilizing any such online portal. If Tenant fails to make payments online, Tenant shall incur an additional charge of $40 for added processing.
Appears in 1 contract
Sources: Lease Agreement
Payment of Rent. The Annual Base Lessee shall pay to Lessor as Monthly Rent shall for the above Equipment the sum of Dollars ($ ) each month for the first ( ) months; Dollars ($ ) each month for the subsequent ( ) months; and Dollars ($ ) each month for the final ( ) months. Payment will be paid in equal consecutive monthly instalments made in advance on or before the first day of each month of the Lease Term, or any extensions thereof. Rental payments for Months One (1) and every month during Twenty-Four (24) are due upon signing of this Lease Schedule with the Term. Subject to section 4.3, rental payment for the first monthly instalment month being applied to the rent payable for the period between the date of delivery of the Annual Base Rent shall be paid by Equipment and the Tenant on Commencement Date, with the balance of such first month’s payment if any, applied to the rent for the month beginning with the Commencement Date (collectively, the “Advance Rentals”). Payment of the TermAdvance Rentals shall be irrevocable, shall be deemed to have been earned by Lessor immediately upon Lessor’s receipt thereof, and shall be applied immediately to satisfy Lessee’s obligations to make such payment under this Lease. The Landlord Advance Rentals shall remit not be refundable to Lessee under any circumstances, including (without limitation) any termination of this Lease for any reason prior to the Tenant, before each Lease Year, the estimated amount end of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant scheduled term in accordance with the previous estimate, such Additional Rent and terms hereof. In the Management Fee is paid in full during such event the term of this Lease Year or during a part only of such Lease Year. After each Lease Yeardoes not commence for any reason whatsoever, the Landlord Advance Rentals shall remit be retained by Lessor not as a penalty but as liquidated damages to cover Lessor’s administrative expenses in processing the application for such Lease. Lessee shall, upon Lessor’s demand, promptly pay or reimburse Lessor for all documentation and administrative fees and expenses relating to the Tenant a statement indicating the actual amount Equipment and this Lease, including (without limitation) Lessor’s standard documentation fees, UCC and other search fees, UCC filing fees, and other related fees, costs and expenses. Payment of all rentals and other amounts payable hereunder shall be made to Lessor as specified in Section 14 of the Additional Rent (Master Equipment Lease. If delivery of the Equipment takes place on other than the portion thereof which first day of a month, the Tenant has paid directly to third partiesRent for such partial first month shall be the amount obtained by multiplying the following: Fraction of Monthly Rent as set forth above times the number of days remaining in such partial first month: provided, however, that (a) and if less than all of the Management Fee Equipment is delivered prior to the Commencement Date, then Lessee shall pay Rent to the Lessor for the said Lease Year. Should period between such date of delivery and the amount Commencement Date, which Rent for each full month of such Additional Rent and period shall be determined by multiplying by a fraction whose numerator shall be the cost of the Management Fee Equipment so delivered and whose denominator shall be the total cost of all of the Equipment, and (b) if the date of Lessee’s written acceptance of delivery of all of the Equipment is prior to the Commencement Date, then Lessee shall pay Rent to Lessor for the period between such acceptance date and the Commencement Date, which Rent for each full month of such period shall be determined by multiplying by a fraction whose numerator shall be the Landlord cost of the Equipment delivered as of the acceptance date and whose denominator shall be greater or less than the total cost of all of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementEquipment.
Appears in 1 contract
Payment of Rent. The Annual Base On or before the date which is five (5) business days after the date Landlord notifies Tenant in writing that Landlord has received Original Landlord Consent (which notice shall contain evidence reasonably satisfactory to Tenant of receipt of Original Landlord Consent), Tenant shall deposit with Landlord a deposit (the "Deposit"), to be used exclusively for the payment of all of Tenant's obligations for Rent (the term "Rent" shall be paid in equal consecutive monthly instalments in advance on the first day of each and every month during the Term. Subject deemed to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee include without limitation obligations for that period, and the monthly payments of Additional Rent and Management Fee which are payable to any other payments due by Tenant) under the Landlord shall then be established Lease for said Lease Year based on that estimatethe period between the First Amendment Effective Date and the Effective Termination Date, and as otherwise set forth herein. The Deposit shall be in the Letter of Credit Amount, as hereinafter defined. The Deposit shall be in the form of an unconditional and irrevocable letter of credit (the "Letter of Credit"): (i) substantially in form attached hereto as Exhibit A, (ii) naming Landlord may as beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time during by delivering to the issuer notice that Landlord is entitled to draw thereunder, (iv) issued by Deutsche Bank or another FDIC-insured financial institution satisfactory to Landlord, (v) redeemable by presentation of a Lease Year re-evaluate sight draft in the state of California, and (vi) having an expiration date of March 31, 2004. The "Letter of Credit Amount" shall be $4,130,000.00, reduced by the amount of any payments which Tenant pays, or has paid, to Landlord on account of Rent for the period commencing as of June 1, 2003 and ending on the date Tenant delivers the Letter of Credit to Landlord. The Deposit shall be held by Landlord for the payment of Rent under the Lease. Tenant shall continue to be responsible for the payment of its estimate utilities as provided in the Lease. Monthly, on or after the day that Basic Annual Rent is due and payable by Tenant under the Lease, Landlord shall draw from the Letter of such Credit an amount equal to Tenant's obligations in respect of Rent (with Rent being Basic Annual Rent and Additional Rent under the Lease, including without limitation any True-Up Payments, as defined in Section 3(F) above) for such month. The Deposit is not intended to be a security deposit. Nevertheless, Tenant hereby waives the provisions of any law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may draw upon the Letter of Credit for the payment of Rent and of other charges payable under the Management FeeLease, and in such case the Termination Payment, as hereinafter defined. If Tenant exercises the Termination Option, Tenant shall notify have no further obligation to pay Rent beyond the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Deposit, except as expressly set forth herein, whether or not the Deposit is for any reason sufficient to pay for such obligations. If Tenant elects to exercise the Termination Option, then as of the Effective Termination Date, Landlord shall have the right to draw from the Letter of Credit the full remaining amount of the Letter of Credit, which amount shall be deemed to be Additional Rent (other than under the portion thereof which the Tenant has paid directly to third parties) and Lease payable in consideration of Tenant's exercise of the Management Fee for Termination Option. If Tenant does not elect to exercise the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the LandlordTermination Option, then appropriate adjustments will be made within thirty (30) days following Landlord shall continue to draw monthly Rent from the delivery of Deposit until the above-mentioned statementDeposit is exhausted, and Tenant shall thereafter pay Rent as set forth in the Lease.
Appears in 1 contract
Sources: Lease Agreement (Lion Bioscience Ag)
Payment of Rent. (A) The Annual Base Rent shall be paid during the Term to Landlord or to the duly authorized agent of Landlord at such address set forth in equal consecutive monthly instalments in advance on the Basic Lease Provisions or as may be designated from time to time by Landlord. If the Commencement Date is other than the first day of each and every the month, any Rent provided for shall be prorated accordingly in the first partial calendar month during of the Term. Subject .
(B) Tenant covenants to section 4.3pay when due, as Additional Rent, all financial obligations expressly undertaken by Tenant, including but not limited to, the first monthly instalment cost of any improvements, alterations or changes made by Landlord at Tenant’s request, and to reimburse Landlord within fifteen (15) business days of demand therefor any and all sums Landlord may advance for or on account of any of these obligations or expenses.
(C) Tenant shall pay the Rent as provided in this Lease, without deduction, counterclaim or set-off whatsoever, and except as expressly provided in this Lease, without any obligation on Landlord to demand payment. Without limiting the generality of the Annual Base foregoing, and notwithstanding any provision of this Lease to the contrary, in no event will Tenant be entitled to any abatement, deferral or other accommodation with respect to Rent shall be due to any now existing or hereafter arising viral outbreak, epidemic affecting New Hanover County, NC or national pandemic or to any quarantine, stay-at-home, shelter-in-place or similar orders. Any Rent, or any installment thereof, not paid by the fifth (5th) business day after the due date thereof shall be considered delinquent and subject to a late payment charge, for each occurrence of delinquency, of five percent (5%) of the Rent overdue and payable; provided, however, that for Landlord to be entitled to receive a late payment charge for the first late payment of Rent in any twelve (12) month period, Landlord shall have to notify Tenant of the late Rent and allow five (5) days to elapse after such notice is received or deemed received by Tenant hereunder without payment of such amount by Tenant; provided, further, that (i) the first installment of Basic Rent and Tenant’s Proportionate Share of Expenses due on the Partial Commencement Date, if applicable, will not be deemed late unless not paid on or before the thirtieth (30th) day after the Partial Commencement Date, and (ii) the first installment of Basic Rent and Tenant’s Proportionate Share of Expenses due on the Commencement Date of shall not be late unless not paid on or before the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent thirtieth (other than the portion thereof which the Tenant shall pay directly to third parties30th) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that day after the Tenant is credited Commencement Date. Any late payment charge shall be due and payable with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional next payment of Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementdue.
Appears in 1 contract
Sources: Office Lease (Ncino, Inc.)
Payment of Rent. The Annual Base Tenant agrees to pay to Landlord, commencing on the Fixed Rent shall be paid in equal consecutive Commencement Date, and continuing and monthly instalments in advance throughout the remainder of the Lease Term, on the first day of each and every calendar month during the Original Term. Subject , a sum equal to section 4.3, the first monthly instalment one-twelfth (1/12th) of the Annual Base Fixed Rent specified in Section 1.2 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. 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 Fixed Rent 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 Fixed Rent Commencement Date to the first day of the succeeding calendar month. Until notice of some other designation is given Annual Fixed Rent, Additional Rent, and all other charges for which provision is herein made shall be paid by remittance to or for the order of Landlord as follows: S&A P-12 Property LLC c/o Samuels & Associates ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ or by electronic ACH transfer to Landlord as follows: Bank ABA Number: ▇▇▇▇▇▇▇▇▇ Account Number: ▇▇▇▇▇▇▇▇ Name of Bank: ▇▇▇▇▇▇▇ Bank Account Name: S&A P-12 Property LLC Address: ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ City: Boston State: MA Zip Code: 02215 Additional Rent payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated for any partial month of the Lease Term, and the first payment on account thereof shall be determined in similar fashion and shall, unless otherwise expressly stated in this Lease, commence on the Commencement Date Date. Annual Fixed Rent, Additional Rent and all other charges payable under this Lease shall be paid by Tenant to Landlord in lawful money of the TermUnited States in immediately available funds and without notice or demand and with setoff, deduction or abatement, except as otherwise expressly set forth in this Lease. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) when due all Annual Fixed Rent and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable all charges for utility services rendered to the Landlord shall then be established Premises and service inspections therefor except as otherwise provided in Article VII and, as further Additional Rent, all charges for said Lease Year based on that estimate. The Landlord may from time additional and special services rendered pursuant to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementArticle VII.
Appears in 1 contract
Sources: Lease Agreement (CarGurus, Inc.)
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section
4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be paid absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant on assumes the Commencement Date risk of the Termforegoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent (but nothing in the foregoing sentence is intended to limit or impair Tenant’s right to assert a claim against Landlord for any breach by Landlord of its obligations under this Lease). The Landlord shall remit Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary. Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant, before each Lease Year, the estimated amount ’s right to assert a claim against Landlord for any breach of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that periodthis Lease, and if Tenant prevails in any such lawsuit, to seek any remedies available to Tenant at law, including without limitation, seeking an order from the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the court permitting Tenant to the offset against rent otherwise owed to Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Sources: Lease (Organovo Holdings, Inc.)
Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The to Landlord shall remit at its address recited in Section 27.7, or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation and establish monthly payments Lease Term shall be paid upon execution by Tenant of this Lease. In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the unexpired period partial month shall be prorated on the basis of such the number of days during the applicable month and paid on or before the Lease Year Commencement Date. If the Lease Term commences or of such part only ends on other than the first or the last day of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Fiscal Year, the Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall remit be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a statement indicating separate or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the actual amount income or profits derived from the lease, use or occupancy of the Additional Rent (other than Premises. In the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant event Landlord’s Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery ’s interests under this Lease and determines that all or any portion of the above-mentioned statementRent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord’s Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant’s payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Sources: Lease Agreement (Overstock Com Inc)
Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The United States as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation Term shall be paid upon execution by Tenant of this Lease (and establish monthly payments for if the unexpired period of such Lease Year or of such part only of a Lease Yearcondition precedent in Section 3.1 is not satisfied, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the then Landlord shall remit return such amount to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following thereafter). In addition, if the delivery Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the partial month shall be prorated on the basis of the above-mentioned statementnumber of days during the applicable month and paid on or before the Commencement Date. If the Term commences or ends on other than the first or the last day of a Fiscal Year, the Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate writing or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Premises. In the event Landlord's Mortgagee succeeds to the Landlord's interests under this Lease and determines that all or any portion of the Rent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord's Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant's payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
Appears in 1 contract
Payment of Rent. The Annual following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, respectively, the Monthly Base Rent for the month in which this Lease so begins or ends shall be prorated; if this Lease commences or ends on a day other than the first day or last day of a calendar year, respectively, the Adjustment Rent for the year in which this Lease so begins or ends shall be prorated and the monthly installments shall be adjusted accordingly; (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, except as otherwise expressly set forth herein, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by the Tenant on the Commencement Date independent of every other covenant in this Lease; (iii) if during all or any portion of any year at least 95% of the Term. The rentable area of the Complex is not fully rented and occupied, Landlord shall remit make an appropriate adjustment of Expenses for such year to determine the Expenses that would have been paid or incurred by Landlord had the rentable area of the Complex been 95% rented and occupied for the entire year with all tenants paying full rent and the amount so determined shall be deemed to have been the Expenses for such year. If during all or any portion of any year the Complex is not fully assessed for purposes of determining Taxes, Landlord shall make an appropriate adjustment of Taxes for such year to determine the Taxes that would have been paid had the Complex been fully assessed for the entire year and the amount so determined shall be deemed to have been the Taxes for such year; (iv) any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at an annual rate equal to the TenantPrime Rate plus 2% (the “Prime Rate” shall mean the rate then most recently published in the Wall Street Journal as the “Prime Rate” or, before each Lease Yearif the Wall Street Journal no longer publishes such information, the estimated amount of the Additional Rent (other a comparable source reasonably selected by Landlord), but in no event higher than the portion thereof which maximum rate permitted by law (the “Default Rate”); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) business days after its due date equal to third parties5% of such payment (provided Tenant shall not be liable for such 5% late charge the first two (2) times Tenant fails to timely pay Rent when due in any calendar year unless, with respect to each such incidence, such failure continues for more than five (5) days after written notice); (v) if changes are made to this Lease or the Complex changing the number of square feet contained in the Premises or in the Complex, Landlord shall make an appropriate adjustment to Tenant’s Proportionate Share; (vi) Tenant shall have the right, upon reasonable prior written notice to Landlord, to inspect Landlord’s accounting records relative to Expenses and Taxes during normal business hours at any time within one hundred eighty (180) days following the furnishing to Tenant of the Management Fee for that annual statement of Adjustment Rent; and, unless Tenant shall take written exception to any item in any such statement within such one hundred eighty (180) day period, such statement shall be considered as final and accepted by Tenant. Notwithstanding the monthly payments foregoing, if Tenant audits the Taxes or Expenses and discovers an error of Additional Rent and Management Fee which are payable greater than three percent (3%), Tenant shall have a right to audit prior years’ statements for errors relating to the same items. Tenant must timely pay all Adjustment Rent billed by Landlord pending the outcome of its inspection or any audit of Landlord’s accounting records. If Tenant makes such timely written exception, an audit as to the proper amount of Adjustment Rent for such period shall be performed by an independent certified public accounting firm selected by Tenant and reasonably acceptable to Landlord, which audit shall be final and conclusive. If the results of such audit reveal that Tenant has overpaid or underpaid Adjustment Rent for the applicable year, Landlord shall then be established for said Lease Year based on that estimate. The pay to Tenant such overpayment or Tenant shall pay to Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Feeunderpayment, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Yearas applicable, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following after the results of such audit are reported to the parties. Tenant agrees to pay the entire cost of such audit unless it is determined that Landlord’s original determination of the Adjustment Rent for the year in issue was in error by more than three percent (3%), in which case Landlord agrees to pay the cost of such audit; (vii) in the event of the termination of this Lease prior to the determination of any Adjustment Rent, Tenant’s agreement to pay any such sums and Landlord’s obligation to refund any such sums (provided Tenant is not in Default hereunder) shall survive the termination of this Lease; (viii) no adjustment to the Rent by virtue of the operation of the rent adjustment provisions in this Lease shall result in the payment by Tenant in any year of less than the Base Rent shown on the Schedule; (ix) Landlord may at any time change the fiscal year of the Building with notice to Tenant; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the last to occur of (x) the same date as the Rent listed on the statement showing such amount is due and (y) thirty (30) days after delivery of the above-mentioned statement; (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the beginning of any calendar year, Tenant shall continue to pay Adjustment Rent at the rate for the previous calendar year until Landlord delivers such estimate, at which time Tenant shall pay retroactively the increased amount for all previous months of such calendar year or Landlord shall credit any overpayment against Rent next coming due, as applicable; and (xii) Tenant shall be responsible for paying any recordation tax incurred with respect to recording a memorandum of this Lease, if requested by Tenant.
Appears in 1 contract
Sources: Deed of Lease (Gtsi Corp)
Payment of Rent. The Annual All Base Rent, Percentage Rent, Additional Rent and other sums shall be paid in equal consecutive monthly instalments in advance on the first day to Landlord without demand and without deduction, set-off, claim or counterclaim of each any nature whatsoever which Tenant may have or allege to have against Landlord. All such Rent and every month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent other sums shall be paid to Landlord in legal tender of the United States in accordance with Section 1.1(n). Except to the extent that Rent is paid via ACH, such being processed pursuant to the immediately following paragraph below, Rent checks are to be made payable to Landlord at ▇▇▇ ▇. ▇▇▇▇▇ Blvd, Winter Park, FL 32789, or such other person, firm or corporation as the Landlord may hereafter designate in writing. Tenant agrees to pay a Ten dollar ($10.00) processing fee for submitting payment via check, cashier’s check or money order. The obligation of Tenant to pay Rent is independent of any other covenant, agreement, term or provision of this Lease. At Landlord’s option, Tenant shall make payments of Rent and all other payments to Landlord required by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent via Automated Clearing House Transfer (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant “ACH Payment”); in accordance with the previous estimateterms and conditions of this Paragraph. If Landlord shall elect to have payments made by ACH Payment, Landlord shall provide notice to Tenant of same and Tenant shall, within fifteen (15) days of the date of such Additional notice from Landlord, execute and deliver to Landlord a complete Authorization Agreement in the form set forth in Exhibit I attached hereto or on such other form as shall be reasonably requested by Landlord, together with a voided check for account verification, establishing arrangements whereby payments of the Rent and other funds are transferred by ACH Payment initiated by Landlord from an account established by Tenant at a financial institution approved by Landlord. Thereafter, Tenant shall continue to pay all rental and other obligations by ACH Payment initiated by Landlord unless otherwise directed by Landlord. Any denial or delay of a scheduled ACH Payment resulting from insufficient funds in the Management Fee is paid in full during such Lease Year account Tenant designates for the ACH debit or during any other delay resulting from Tenant’s actions, subject to any cure period prescribed under this Lease, shall immediately and automatically be a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount default of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease.
Appears in 1 contract
Sources: Retail Lease Agreement
Payment of Rent. The Annual term "Rent" as used herein shall mean the Base Rental, the Tenant's proportionate Share of Actual Operating Expenses in excess of the Base Operating Expenses Rate, the Parking Rentals and all other amounts provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Leased Premises. The term "Additional Rent" as used herein means Rent exclusive of Base Rental. The Rent shall be paid in equal consecutive monthly instalments due and payable in advance in monthly installments on the first (1st) day of each and every calendar month after the Rent Commencement Date (defined in the Addendum) during the Term. Subject to section 4.3Term hereof, the first monthly instalment in legal tender of the Annual Base Rent shall be paid by United States of America to Landlord at the Tenant on the Commencement Date of the Term. The Landlord shall remit address shown in Section 5.16 or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. The Rent and of shall be paid without notice, demand, abatement, deduction or offset except as otherwise expressly provided for in the Management Fee, and in such case Lease. In no event shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount accept or be bound by any payment of the Additional Rent (other more than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following in advance, unless otherwise agreed to in writing between Landlord and Tenant. If the delivery Term commences or ends on other than the first or last day of a calendar month, then the installment of Base Rental and the Parking Rentals for such partial month shall be appropriately prorated. If the Term commences or ends at any time other than the first day of a calendar year, the Tenant's Proportional Share of Actual Operating Expenses in excess of the above-mentioned statementBase Operating Expenses Rate shall be prorated for such year according to the number of days of the Term during such year. In no event shall Base Rental or monthly installments thereof be less than the amounts specified in Section 2.01 (subject to Tenant's abatement rights as set forth in Section 3.01(c) and Section 5.02 of this Lease Agreement).
Appears in 1 contract
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Tenant shall pay the Base Rent shall be paid and Tax and Operating Expense Rent (as provided in Section 4.5.2 below) in equal consecutive monthly instalments installments (each, a “Rent Installment”) in advance commencing on the Rent Commencement Date, with respect to the Taxes and Operating Expense Rent, and the Rent Commencement Date, with respect to the Base Rent, and on the first day of each and every month thereafter during the Term. Subject to section 4.3; provided, however, if the Rent Commencement Date is other than the first day of a calendar month, the first monthly instalment installment of Taxes and Operating Expense Rent for such partial month shall be prorated in the Annual Base proportion that the number of days this Lease is in effect during such partial month bears to the total number of days in the calendar month. Tenant shall make all Rent Installments by means of ACH transfer for value of federal funds to Landlord, or other form of electronic funds transfer approved by Landlord in writing. All Rent, and all other amounts payable to Landlord by Tenant pursuant to the provisions of this Lease, shall be paid by to Landlord, without notice, demand, abatement, deduction or offset (except to the Tenant on the Commencement Date extent expressly provided in this Lease), in lawful money of the Term. The Landlord shall remit United States at Landlord’s office in the Building or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Person or at such other place as Landlord may designate from time to time during by written notice given to Tenant. No payment by Tenant or receipt by Landlord of a lesser amount than the correct Rent Installment due hereunder shall be deemed to be other than a payment on account; nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed to effect or evidence an accord and satisfaction; and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance or pursue any other remedy in this Lease Year re-evaluate its estimate or at law or in equity provided. Tenant specifically waives herein all rights to demand, protest, notice or presentment, if any. If Tenant makes any payment to Landlord by check, the same shall be by check of such Additional Rent and of the Management FeeTenant only, and Landlord shall not be required to accept the check of any other person, and any check received by Landlord shall not be deemed to have satisfied Tenant’s obligation to pay the Rent Installment to which such check pertains until such check has cleared and Landlord is in receipt of good funds. If any check is mailed by Tenant, it must be mailed to Landlord’s Notice Address and Tenant shall post such case shall notify check in sufficient time prior to the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, date when payment is due so that after such check will be received by Landlord and cleared by Landlord’s bank for payment on or before the Tenant date when payment is credited with the appropriate due. Any amounts required to be paid by the Tenant in accordance with the previous estimateto or on behalf of Landlord under this Lease shall constitute rent due under this Lease and, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant extent such amounts do not constitute Base Rent, are included within the definition of “Additional Rent”. Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease, except that any non-scheduled payment required and due under this Lease, where there is a statement indicating the actual amount of the Additional Rent (other than the portion thereof stipulated time frame within which the Tenant has paid directly to third parties) it is due, shall be due and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent payable on that time frame and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the not immediately as stated above-mentioned statement.
Appears in 1 contract
Sources: Lease Agreement (1847 Goedeker Inc.)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent: (i) if this Lease commences or ends on a day other than the first day or last day of a calendar month, the Rent for the month in which this Lease so begins or ends shall be prorated and adjusted accordingly; (ii) all Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be independent of every other covenant in this Lease; (iii) if during all or any portion of any year the Building is not fully rented and occupied, Landlord may elect to make an appropriate adjustment of Expenses and/or Taxes for such year to determine the Expenses that would have been paid or incurred by Landlord had the Building been fully rented and occupied for the entire year and the amount so determined shall be deemed to have been the Expenses and/or Taxes for such year; (iv) any sum due from Tenant on to Landlord which is not paid when due shall bear interest from the Commencement Date date due until the date paid at the annual rate of eighteen percent (18%) or the Term. The Landlord shall remit to maximum rate permitted by law, whichever is less (the Tenant"Default Rate"); and, before each Lease Yearin addition, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five days after its due date equal to third partiesfive percent of such payment; (v) if changes are made to this Lease or the Building changing the number of square feet contained in the Premises or in the Building, Landlord shall make an appropriate adjustment to Tenant's Proportionate Share; (vi) Tenant shall have the right to inspect Landlord's accounting records relative to Expenses and Taxes during normal business hours at any time within thirty days following the furnishing to Tenant of the Management Fee for that annual statement of Rent Adjustment; and, unless Tenant shall take written exception to any item in any such statement within such thirty day period, such statement shall be considered as final and accepted by Tenant; (vii) in the monthly payments event of Additional Rent and Management Fee which are payable the termination of this Lease prior to the Landlord determination of any Adjustment Rent, Tenant's agreement to pay any such sums and Landlord's obligation to refund any such sums (provided Tenant is not in default hereunder) shall then be established for said Lease Year based on that estimate. The Landlord may from time survive the termination of this Lease; (viii) no adjustment to time during a Lease Year re-evaluate its estimate of such Additional the Rent and by virtue of the Management Fee, and operation of the rent adjustment provisions in such case this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total Base Rent set forth in Item B of the amounts already paid by Basic Terms; (ix) Landlord may at any time change the fiscal year of the Building; (x) each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the same date as the Rent listed on the statement showing such amount is due; and (xi) if Landlord fails to give Tenant an estimate of Adjustment Rent prior to the Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Adjustment Rent, as the delivery of case may be, at the above-mentioned statementrate for the previous calendar year until Landlord delivers such estimate.
Appears in 1 contract
Sources: Standard Office Lease (Data Transmission Network Corp)
Payment of Rent. The Annual term "Rent" shall mean, collectively, the Base Rental, the Tenant's Share of the Basic Operating Costs as provided in Section 6 which exceed the Base Amount, the cost of lighting in excess of Building Standard or Miscellaneous Power in excess of the Building Standard Electrical Design Load as provided in Section 9(a)(6), after-hours HVAC and other services as provided in Section 9(a)(9), and all other sums of money becoming due and payable to Landlord under this Lease. Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant designate in writing upon not less than ten (10) days notice. Landlord may, at its option, bill ▇▇▇ant for Rent, but no delay or failure by Landlord in providing such a bill ▇▇▇ll relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of each month as provided herein. All payments shall be in the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first day of a calendar month, then the Tenant has paid directly to third parties) and installment of Base Rental for such partial month shall be prorated as provided in Section 1(b). If the Lease Term commences or ends at any time other than the first day of a calendar year, the Tenant's Share of the Management Fee Basic Operating Costs which exceed the Base Amount shall be prorated for such year according to the said Lease Year. Should the amount number of such Additional Rent and days of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Payment of Rent. The Annual Base Sublease Rent shall be paid and Additional Sublease Rent (collectively the “Rent”) is payable in advance in equal consecutive monthly instalments installments (the amount of monthly Rent so payable to be determined for each year by dividing the then annual Base Sublease Rent by twelve (12) in advance and by dividing the then known Additional Sublease Rent by twelve (12) and adding the two resulting quotients together) on the first calendar day of each and every month during the Sublease Term. Subject to section 4.3, except that the first monthly instalment installment of the Annual Base Rent shall will be paid by Subtenant to Sublandlord upon execution of this Agreement on behalf of Subtenant. To the Tenant on extent that the Commencement Date Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional monthly Rent (other than the portion thereof which the Tenant payable by Subtenant shall pay directly be adjusted to third parties) and take such modification into account. All Rent will be paid without notice, demand, set-off or deduction, in lawful money of the Management Fee United States of America, at the address of Sublandlord for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord notices set forth below or at such other place as Sublandlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of designate in writing. If the Management Fee, and in such case shall notify Sublease Term begins on other than the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only first calendar day of a Lease Yearmonth (i.e.the Effective Date), so that after Rent will be prorated on a per diem basis. If during the Tenant is credited with Sublease Term, Subtenant shall fail to pay Rent within seven (7) business days of when the appropriate amounts paid Rent shall be due and payable, Subtenant shall pay to Sublandlord as liquidated damages for such late payment, without notice or demand by Sublandlord, a sum equal to ten percent (10%) per annum on the Tenant in accordance with amount of Rent then due compounding monthly from the previous estimate, such Additional Rent and the Management Fee is due date until paid in full during and a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such Lease Year or during a part only sums of such Lease Year. After each Lease Year, the Landlord shall remit liquidated damages are fair and reasonable due to the Tenant uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall be deemed or construed to be a statement indicating limitation of or in substitution of Sublandlord’s other rights and remedies as provided under this Agreement, and Sublandlord shall have the actual amount right to apply any monies received from Subtenant first to any deficiency in the payment of the Additional Rent (liquidated damages and any excess thereof to any item of Rent, or any other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Yearcharge, as Sublandlord may determine. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant Notwithstanding any other provision hereof to the Landlordcontrary, then appropriate adjustments will be made within thirty (30) days following Subtenant’s liability for Rents accruing during the delivery Sublease Term and Sublandlord’s obligation to refund overpayment of Rents paid to it by Subtenant shall survive the above-mentioned statementexpiration or sooner termination of this Agreement.
Appears in 1 contract
Sources: Sublease Agreement (AntriaBio, Inc.)
Payment of Rent. The Annual Base Monthly Rent and Adjustments shall be paid due and payable, in equal consecutive monthly instalments advance, beginning on that date which is ninety (90) days after the Commencement Date (the RENT COMMENCEMENT DATE); provided that one
(1) full installment of Base Monthly Rent and Adjustments totalling $24,825.33 is due and payable on the date of this Lease, such to be applied to the first installment of Base Monthly Rent and Adjustments due on the Rent Commencement Date and thereafter applied to Base Monthly Rent and Adjustments until fully applied. Any installment of Base Monthly Rent or Adjustments due for any fractional calendar month shall be prorated based upon the actual number of days in advance that month. If the Rent Commencement Date occurs on the first day of each and every a calendar month, then the month during in which the Term. Subject to section 4.3, Rent Commencement Date occurs shall be the first monthly instalment complete calendar month after the occurrence of the Annual Rent Commencement Date for purposes of determining the date upon which Base Monthly Rent adjusts. As used in this Lease, RENT shall mean the Base Monthly Rent and all other amounts provided for in this Lease to be paid by Tenant to Landlord, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. All Rent (hereinafter defined) shall be paid by at the Tenant on times and in the Commencement Date amounts provided for herein in legal tender of the Term. The United States of America to Landlord shall remit at the address specified in Paragraph 32 hereof or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and of the Management Feeshall be paid without notice, and demand, abatement, deduction or offset (unless expressly provided for elsewhere in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third partiesthis Lease) and shall be a covenant of the Management Fee for the said Lease YearTenant independent of any obligation of Landlord under this Lease. Should the amount Tenant's obligation to pay any installment of Rent shall not be deemed satisfied until such Additional installment of Rent and of the Management Fee then determined has actually been received by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Sources: Sublease (Mannatech Inc)
Payment of Rent. The Annual Base Sublease Rent shall be paid and Additional Sublease Rent (collectively the “Rent”) is payable in advance in equal consecutive monthly instalments installments (the amount of monthly Rent so payable to be determined for each year by dividing the then annual Base Sublease Rent by twelve (12) in advance and by dividing the then known Additional Sublease Rent by twelve (12) and adding the two resulting quotients together) on the first calendar day of each and every month during the Sublease Term. Subject to section 4.3, except that the first monthly instalment installment of the Annual Base Rent shall will be paid by Subtenant to Sublandlord upon execution of this Agreement on behalf of Subtenant. To the Tenant on extent that the Commencement Date Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional monthly Rent (other than the portion thereof which the Tenant payable by Subtenant shall pay directly be adjusted to third parties) and take such modification into account. All Rent will be paid without notice, demand, set-off or deduction, in lawful money of the Management Fee United States of America, at the address of Sublandlord for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord notices set forth below or at such other place as Sublandlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of designate in writing. If the Management Fee, and in such case shall notify Sublease Term begins on other than the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only first calendar day of a Lease Yearmonth (i.e. the Effective Date), so that after Rent will be prorated on a per diem basis. If during the Tenant is credited with Sublease Term, Subtenant shall fail to pay Rent within seven (7) days of when the appropriate amounts paid Rent shall be due and payable, Subtenant shall pay to Sublandlord as liquidated damages for such late payment, without notice or demand by Sublandlord, a sum equal to ten percent (10%) per annum on the Tenant in accordance with amount of Rent then due, compounding monthly from the previous estimate, such Additional Rent and the Management Fee is due date until paid in full during and a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such Lease Year or during a part only sums of such Lease Year. After each Lease Year, the Landlord shall remit liquidated damages are fair and reasonable due to the Tenant uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall be deemed or construed to be a statement indicating limitation of or in substitution of Sublandlord’s other rights and remedies as provided under this Agreement, and Sublandlord shall have the actual amount right to apply any monies received from Subtenant first to any deficiency in the payment of the Additional Rent (liquidated damages and any excess thereof to any item of Rent, or any other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Yearcharge, as Sublandlord may determine. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant Notwithstanding any other provision hereof to the Landlordcontrary, then appropriate adjustments will be made within thirty (30) days following Subtenant’s liability for Rents accruing during the delivery Sublease Term and Sublandlord’s obligation to refund overpayment of Rents paid to it by Subtenant shall survive the above-mentioned statementexpiration or sooner termination of this Agreement.
Appears in 1 contract
Sources: Sublease Agreement (AntriaBio, Inc.)
Payment of Rent. The Annual Base Rent payment of rent shall be paid in equal consecutive monthly instalments in advance on effectuated through THE LESSOR’S “confirming” financial service at 180 days from the first date the invoice is approved. Invoices shall be approved before the tenth day of each month. THE LESSOR shall undertake to send THE LESSEE the invoice corresponding to the month in course within the first five calendar days of each month to the following address: TELVENT GIT, S.A. Avda. ▇▇▇▇▇▇▇▇▇, ▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ (Madrid) To the attention of the Operations Department Payments shall be confirmed by THE LESSEE’S financial institution on the tenth day of each month at the latest. Once the payment of the monthly rent invoice is confirmed by THE LESSEE’S financial institution, THE LESSOR may choose to make the payment effective by confirming its due date, that is to say at 180 days from the invoice’s date of approval, or on any other date prior to such due date. Should THE LESSOR choose to bring forward the charge, any financial costs and every month during expenses arising from the Term“confirming” payment scheme deducted by the financial institution from the invoice’s nominal amount shall be borne by THE LESSOR up to maximum annual rate of 2.5%. Subject Should the financial costs and expenses deducted by the financial institution add up to section 4.3more than 2.5% per annum, the first monthly instalment of the Annual Base Rent difference shall be paid invoiced by the Tenant on the Commencement Date of the Term. The Landlord shall remit THE LESSOR to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that periodTHE LESSEE, and the monthly payments latter shall pay such costs and expenses within a maximum of Additional Rent 10 days from the date such an invoice is submitted. Notwithstanding the foregoing, should the confirming line established between the LESSEE and Management Fee which are payable to its financial institution suffer any kind of constraint or withdrawal that affects the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate means of payment set forth herein, or should any other unforeseen contingency having such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlordan effect occur, then appropriate adjustments will the means of payment through confirming shall be replaced, upon THE LESSOR’S request, by advance payments made within thirty (30) the first five calendar days following of each month through a standing order placed at the delivery bank account THE LESSEE gives notice of the above-mentioned statementfor such a purpose, as long as such situation of constraint or withdrawal lasts.
Appears in 1 contract
Sources: Lease Agreement (Telvent Git S A)
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord’s address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, b▇▇▇ Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate b▇▇▇ shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined Lease Term, is being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be greater applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term commences or less ends at any time other than the total first day of a calendar year, the Tenant’s Share of Basic Operating Costs shall be prorated for such year according to the number of days of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Sources: Office Lease Agreement (Masergy Communications Inc)
Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, bill ▇▇▇ant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate bill ▇▇▇ll relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional each month as provided herein. All payments shall be in the form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent and of shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. Notwithstanding to the Management Feecontrary set forth herein, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments Base Rental for the unexpired period of such first (1st) full calendar month during the Lease Year or of such part only of a Term shall be abated. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third partiesat the rental rate applicable during the second (2nd) and full month of the Management Fee Lease Term. Any such prorated Base Rental, plus the Base Rental due for the said Lease Year. Should the amount of such Additional Rent and second (2nd) full month of the Management Fee then determined by Lease Term, shall be due and payable on the Landlord be greater first (1st) day of the second (2nd) calendar month during the Lease Term. If the Lease Term commences or less ends at any time other than the total first day of a calendar year, the Tenant's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
Appears in 1 contract
Sources: Office Lease Agreement (Caprock Communications Corp)
Payment of Rent. The Annual Base following provisions shall govern the payment of Rent.
3.3.1 All Rent shall be paid in equal consecutive monthly instalments in advance on to Landlord without offset or deduction, and the first day of each and every month during the Term. Subject covenant to section 4.3, the first monthly instalment of the Annual Base pay Rent shall be paid by the Tenant on the Commencement Date independent of the Termevery other covenant in this Lease. The Landlord Payment shall remit be delivered to the TenantLandlord at the address set forth above or at such other address as Landlord may designate from time to time.
3.3.2 Any sum due from Tenant to Landlord which is not paid when due shall bear interest from the date due until the date paid at the annual rate of fifteen percent (15%) per annum, before each Lease Year, the estimated amount of the Additional Rent (other but in no event higher than the portion thereof which maximum rate permitted by law (the "Default Rate"); and, in addition, Tenant shall pay directly Landlord a late charge for any Rent payment which is paid more than five (5) days after its due date equal to third partiesfive percent (5%) of such payment.
3.3.3 In the event of the termination of this Lease prior to the determination of any Tax Escalation and Expense Escalation, Landlord's obligation to refund any such sums (provided Tenant is not in default hereunder) and Tenant's agreement to pay any such sums shall survive the termination of this Lease.
3.3.4 No adjustment to the Rent by virtue of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and operation of the Management Fee, and rent adjustment provisions in such case this Lease shall notify result in the payment by Tenant in writing any year of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total Base Rent shown on the Lease Provisions.
3.3.5 Each amount owed to Landlord under this Lease for which the date of payment is not expressly fixed shall be due on the amounts already paid by same date as the Rent listed on the statement showing such amount is due.
3.3.6 If Landlord fails to give Tenant an estimate of Tax Escalation and Expense Escalation prior to the Landlordbeginning of any calendar year, then appropriate adjustments will be made within thirty (30) days following Tenant shall continue to pay Tax Escalation and Expense Escalation at the delivery of rate for the above-mentioned statementprevious calendar year until Landlord delivers such estimate.
Appears in 1 contract
Sources: Office Lease (Privatebancorp Inc)
Payment of Rent. The Rent provided for in this Article 4 shall be paid by the Tenant as follows:
(a) The Annual Base Rent shall be paid in equal consecutive monthly instalments in advance on of the first day of each and every month during the Term. Subject to section 4.3, the The first monthly instalment of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord Where the Commencement Date of the Term is the first day of a month, such instalment shall remit be in respect of such month; where the Commencement Date of the Term is not the first day of a calendar month, the Annual Rent for the period from the Commencement Date of the Term to the Tenant, before first day of the next ensuing calendar month shall be pro-rated on a per diem basis and paid on the first day of such month and the instalment of the Annual Rent paid upon the Commencement Date of the Term shall be in respect of the Annual Rent for the first full calendar month of the Term; thereafter in either case subsequent monthly instalments shall each Lease Year, be in advance on the estimated first day of each ensuing calendar month during the Term. Additional Rent Payments
(b) The amount of the Additional Rent pursuant to section 4.01 (other than the portion thereof b) which the Tenant is to pay shall be estimated by the Landlord for such period as the Landlord may determine. The Tenant agrees to pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established such amount in monthly instalments, in advance during such period on the dates and at the times for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and payment of the Management Fee, and Annual Rent provided for in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Yearthis Lease. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.As soon as
Appears in 1 contract
Sources: Net Lease Agreement (Pivotal Corp)
Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section 4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be paid absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant on assumes the Commencement Date risk of the Termforegoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent (but nothing in the foregoing sentence is intended to limit or impair Tenant’s right to assert a claim against Landlord for any breach by Landlord of its obligations under this Lease). The Landlord shall remit Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary. Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant, before each Lease Year, the estimated amount ’s right to assert a claim against Landlord for any breach of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that periodthis Lease, and if Tenant prevails in any such lawsuit, to seek any remedies available to Tenant at law, including without limitation, seeking an order from the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the court permitting Tenant to the offset against rent otherwise owed to Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Payment of Rent. The Annual Base Monthly Rent and Adjustments shall be paid due and payable, in equal consecutive monthly instalments advance, beginning on that date which is ninety (90) days after the Commencement Date (the RENT COMMENCEMENT DATE); provided that one (1) full installment of Base Monthly Rent and Adjustments totalling $24,825.33 is due and payable on the date of this Lease, such to be applied to the first installment of Base Monthly Rent and Adjustments due on the Rent Commencement Date and thereafter applied to Base Monthly Rent and Adjustments until fully applied. Any installment of Base Monthly Rent or Adjustments due for any fractional calendar month shall be prorated based upon the actual number of days in advance that month. If the Rent Commencement Date occurs on the first day of each and every a calendar month, then the month during in which the Term. Subject to section 4.3, Rent Commencement Date occurs shall be the first monthly instalment complete calendar month after the occurrence of the Annual Rent Commencement Date for purposes of determining the date upon which Base Monthly Rent adjusts. As used in this Lease, RENT shall mean the Base Monthly Rent and all other amounts provided for in this Lease to be paid by Tenant to Landlord, all of which shall constitute rental in consideration for this Lease and the leasing of the Premises. All Rent (hereinafter defined) shall be paid by at the Tenant on times and in the Commencement Date amounts provided for herein in legal tender of the Term. The United States of America to Landlord shall remit at the address specified in Paragraph 32 hereof or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and of the Management Feeshall be paid without notice, and demand, abatement, deduction or offset (unless expressly provided for elsewhere in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third partiesthis Lease) and shall be a covenant of the Management Fee for the said Lease YearTenant independent of any obligation of Landlord under this Lease. Should the amount Tenant's obligation to pay any installment of Rent shall not be deemed satisfied until such Additional installment of Rent and of the Management Fee then determined has actually been received by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
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Payment of Rent. The Annual Concurrently with the execution of this Lease by both parties, Tenant shall pay to Landlord the amount set forth in Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Rent Monthly Rent. All rent required to be paid in monthly installments shall be paid in equal consecutive monthly instalments in advance on the first day of each and every calendar month during the Lease Term. Subject If Section K of the Summary provides that the Base Monthly Rent is to section 4.3, be increased during the Lease Term and if the date of such increase does not fall on the first monthly instalment day of a calendar month, such increase shall become effective on the first day of the Annual Base next calendar month. All rent shall be paid in lawful money of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided in §11.4, §12.3 and elsewhere in the Lease), and without any prior demand therefor. Rent shall be paid by the Tenant on the Commencement Date to Landlord at its address set forth in Section Q of the Term. The Landlord shall remit to the TenantSummary, before each Lease Year, the estimated amount of the Additional Rent (or at such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The place as Landlord may designate from time to time during time. Tenant’s obligation to pay Base Monthly Rent and Tenant’s Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Lease Term. Landlord has designated Bank One as Landlord’s third party “Lock Box Provider”. Tenant agrees that all payments made under or in connection with this Lease, other than any initial payments such as the first month’s rental and security deposits which are to accompany this Lease, are to be sent to the following designated location, or “Lock Box”, where the Lock Box Provider will collect and deposit payments made pursuant to the Lease as a service to Landlord: AEGON USA Realty Advisors, Inc. P. ▇. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ All such payments sent to the Lock Box are to be made payable to: AEGON USA Realty Advisors, Inc. Tenant acknowledges that the Lock Box Provider is Landlord’s representative for the sole purpose of administratively processing and accounting for payments made pursuant to the Lease, and is not authorized to modify or waive any of the provisions of the Lease Year re-evaluate its estimate or of these provisions. Landlord reserves the right to change Lock Box Providers, use more than one Lock Box, or cease the use of a Lock Box at any time. The demand or receipt by Landlord or the Lock Box Provider of any amount to be paid under this Lease, whether characterized as Base Monthly Rent, or otherwise, with knowledge or notice of the breach by Tenant of any other covenant, agreement, term, rule, regulation or condition of this Lease, shall not be deemed a waiver of such Additional Rent breach. Tenant agrees that payment by Tenant of, or Landlord or Lock Box Provider’s receipt of, a lesser amount than the amount required to be paid under this Lease, shall not be deemed to be anything other than a payment on account, which payment Landlord may apply as it sees fit, regardless of any request or designation by Tenant as to the items against which the payments are to be applied. Tenant shall not place any restrictive endorsements or other statements on any check or other payment, or deliver any writing to Landlord or Lock Box Provider in conjunction with a payment that conditions the payment of any amounts owed by Tenant under the Lease. Tenant agrees that any such endorsement, statement or writing is void, does not constitute an accord and satisfaction, and waives any rights, defenses or remedies granted by law in connection with making such an endorsement, statement or writing. Tenant further agrees that Landlord or Lock Box Provider may accept any such check or other payment as if such endorsement, statement or writing was not present, without prejudicing Landlord’s right to recover the balance of such amount owed or to pursue any other remedy permitted by this Lease. Tenant also agrees that Landlord’s or Lock Box Provider’s receipt of, or acceptance and deposit of, any amounts owed by Tenant under the Lease following: (i) the giving of any notice of default to Tenant; (ii) the commencement of suit against Tenant; (iii) the termination of this Lease or final judgment for possession of the Management FeePremises; or (iv) the exercise of any other remedy by Landlord, and in such case shall notify not affect Landlord’s right to exercise any remedy, including any right to recover possession of the Premises. Notwithstanding the above, nothing contained herein shall limit the rights of the Tenant in writing of under the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementcure any default.
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Payment of Rent. The Annual Base Tenant agrees to pay to Landlord, commencing on the Rent shall be paid in equal consecutive Commencement Date, and continuing and monthly instalments in advance throughout the remainder of the Lease Term, on the first day of each and every calendar month during the Original Term. Subject , a sum equal to section 4.3, the first monthly instalment one-twelfth (1/12th) of the Annual Base Fixed Rent specified in Section 1.2 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 3.4 for the applicable Extended Term. 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 Rent 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 Rent Commencement Date to the first day of the succeeding calendar month. Annual Fixed Rent, Additional Rent, and all other charges for which provision is herein made shall be paid by remittance to or for the order of Landlord to the address for rent payment provided by Landlord to Tenant prior to the Rent Commencement Date or by via federally insured wire transfer (including ACH) pursuant to the wire instructions provided to Tenant by Landlord. 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, unless otherwise expressly stated in this Lease, commence on the Commencement Date and other provisions of the Termthis Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. The Landlord shall remit to the TenantAnnual Fixed Rent, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee all other charges for which are payable provision is made in this Lease shall be paid by Tenant to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and in lawful money of the Management FeeUnited States in immediately available funds and without notice or demand and with setoff, and deduction or abatement, except as otherwise expressly set forth in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementthis Lease.
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Payment of Rent. The Annual Tenant shall pay, without prior notice or demand, in accordance with Section 4.1 of the Summary or at such place as Landlord may from time to time designate in writing, by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America or pursuant to wire or electronic payment instructions provided by Landlord, base rent (“Base Rent shall be paid Rent”) as set forth in Section 4 of the Summary, payable in equal consecutive monthly instalments installments as set forth in advance Section 4 of the Summary, in advance, on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. Subject to section 4.3Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Lease Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the first monthly instalment Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Annual Lease Term at a rate per day which is equal to 1/30 of the applicable monthly Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent shall together be denominated “Rent”. Without limiting the foregoing, Tenant’s obligation to pay Rent shall be paid absolute, unconditional and independent of any Landlord covenants and shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and Tenant on assumes the Commencement Date risk of the Termforegoing and waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover rent (but nothing in the foregoing sentence is intended to limit or impair Tenant’s right to assert a claim against Landlord for any breach by Landlord of its obligations under this Lease). The Landlord shall remit Tenant’s covenants contained herein are independent and not dependent, and Tenant hereby waives the benefit of any statute or judicial law to the contrary. Nothing contained in this Section 3.1 is intended to frustrate or to impede Tenant, before each Lease Year, the estimated amount ’s right to assert a claim against Landlord for any breach of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that periodthis Lease, and if Tenant prevails in any such lawsuit, to seek any remedies available to Tenant at law, including without limitation, seeking an order from the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the court permitting Tenant to the offset against rent otherwise owed to Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement.
Appears in 1 contract
Sources: Lease (Organovo Holdings, Inc.)
Payment of Rent. The Annual term "Rent" as used herein shall mean the Base Rental, the Tenant's proportionate Share of Actual Operating Expenses in excess of the Base Operating Expenses Rate, the Parking Rentals and all other amounts provided for in this Lease to be paid by Tenant, all of which shall constitute rental in consideration for this Lease and the leasing of the Leased Premises. The term "Additional Rent" as used herein means Rent exclusive of Base Rental. The Rent shall be paid in equal consecutive monthly instalments due and payable in advance in monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3Term hereof, the first monthly instalment in legal tender of the Annual Base Rent shall be paid by United States of America to Landlord at the Tenant on the Commencement Date of the Term. The Landlord shall remit address shown in Section 5.16 or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during a designate in writing. The Rent shall be paid without notice, demand, abatement, deduction or offset except as otherwise expressly provided for in the Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case . In no event shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount accept or be bound by any payment of the Additional Rent (other more than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following in advance, unless otherwise agreed to in writing between Landlord and Tenant. If the delivery Term commences or ends on other than the first or last day of a calendar month, then the installment of Base Rental and the Parking Rentals for such partial month shall be appropriately prorated. If the Term commences or ends at any time other than the first day of a calendar year, the Tenant's Proportional Share of Actual Operating Expenses in excess of the above-mentioned statementBase Operating Expenses Rate shall be prorated for such year according to the number of days of the Term during such year. In no event shall Base Rental or monthly installments thereof be less than the amounts specified in Section 2.01.
Appears in 1 contract
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)
Payment of Rent. The Annual Base Rent shall be paid quarterly in equal consecutive monthly instalments in --------------- advance on the first day of each January, April and every month during July for the Term. Subject to section 4.3second, third and fourth quarters of each Lease Year and on the thirtieth (30th) day of October for the first monthly instalment quarter of the Annual Base Rent shall be paid by the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, . On or before the estimated amount thirtieth (30th) day after the expiration of each of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only first three quarters of a Lease Year, so Tenant shall deliver to Landlord (i) Tenant's calculation of the Adjusted Gaming Win actually received by Tenant during such quarter (on an amortized basis) and the Percentage Rent due for such quarter, all certified as true and correct in all material respects by Tenant, and (ii) payment of eighty percent (80%) of the amount of Percentage Rent due for the most recently concluded quarterly period, along with a payment as adjusted by such amount as is necessary to bring the total amount paid by Tenant on account of Percentage Rent for the Lease Year in question up to an amount equal to eighty percent (80%) of the Percentage Rent that is due based on the Adjusted Gaming Win actually received by Tenant for all quarters in Lease Year that have been completed. On or before the thirtieth (30th) day after the Tenant is credited with expiration of the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such fourth quarter of each Lease Year or during a part only the Lease Term, Tenant shall deliver to Landlord (i) Tenant's calculation of the Adjusted Gaming Win actually received by Tenant for the Lease Year just completed, certified as true and correct in all material respects by Tenant, and (ii) payment of such amount as is necessary to bring the total amount paid to Landlord for Percentage Rent up to an amount equal to one hundred percent (100%) of the Percentage Rent due for the Lease Year most recently completed based on the actual Adjusted Gaming Win for such Lease Year. After each Lease Year, the Landlord All rent shall remit to the Tenant a statement indicating the actual amount be paid in lawful money of the Additional United States to Landlord at its address set forth for notices in paragraph 17.3, or to such other place as Landlord may designate from time to time in writing, without abatement, deduction, offset or prior demand therefor, except as otherwise expressly provided in this Lease. Annual Base Rent (other than the portion thereof which the Tenant has paid directly to third parties) and Percentage Rent shall be prorated as of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and commencement or expiration or earlier termination of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term.
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Payment of Rent. The Annual Base Except as otherwise expressly provided in this Lease, the Rent shall be paid in equal consecutive monthly instalments due and payable to Landlord in advance in monthly installments on the first (1st) day of each and every calendar month during the Lease Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by the Tenant at Landlord's address as provided on the Commencement Date signature page of the Term. The Landlord shall remit this Lease or to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (such other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The person or at such other address as Landlord may from time to time during designate in writing. Landlord may, at its option, ▇▇▇▇ Tenant for Rent, but no delay or failure by Landlord in providing such a Lease Year re-evaluate its estimate ▇▇▇▇ shall relieve Tenant from the obligation to pay the Base Rental on the first (1st) day of such Additional Rent and of each month as provided herein. All payments shall be in the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only form of a check unless otherwise agreed by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with good funds. The Rent shall be paid without notice, demand, abatement, deduction or offset, except as otherwise expressly provided in this Lease. If the Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (Term commences on other than the portion thereof which first (1st) day of a calendar month, then the Tenant has Base Rental for such partial month shall be prorated and paid directly to third parties) and at the rental rate applicable during the first full month of the Management Fee Lease Term. The Base Rental for the said Lease Year. Should the amount of such Additional Rent and first full month of the Management Fee then determined Lease Term for which a payment of rent is due being deposited with Landlord by Tenant contemporaneously with the delivery by Tenant to Landlord of an executed copy of this Lease and shall be greater or less applied to the payment of Base Rental by Landlord for the appropriate periods without any further notice by Tenant. If the Lease Term ends at any time other than the total first day of a calendar year, the Tenant's Share of Basic Operating Costs shall be prorated for such year according to the number of days of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statementLease Term in such year.
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Payment of Rent. The Annual Except as otherwise expressly provided in this Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant on the Commencement Date of the Term. The Landlord shall remit to the Tenant, before each Lease Year, the estimated amount of the Additional Rent (other than the portion thereof which the Tenant shall pay directly to third parties) and of the Management Fee for that period, and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The United States as Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional designate in writing. Rent and shall be paid without notice, demand, abatement, deduction or offset in legal tender of the Management Fee, and in such case shall notify United States of America. The Base Rent for the Tenant in writing first full calendar month of the re-evaluation and establish monthly payments Term shall be paid upon execution by Tenant of this Lease. In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the unexpired period partial month shall be prorated on the basis of such the number of days during the applicable month and paid on or before the Lease Year Commencement Date. If the Term commences or of such part only ends on other than the first or the last day of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Fiscal Year, the Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the number of days during the applicable Fiscal Year. All payments received by Landlord from Tenant shall remit be applied to the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a statement indicating separate writing or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the actual amount income or profits derived from the lease, use or occupancy of the Additional Rent (other than Premises. In the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant event Landlord’s Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery ’s interests under this Lease and determines that all or any portion of the above-mentioned statementRent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord’s Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant’s payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
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Payment of Rent. The Annual Except as otherwise expressly provided in this --------------- Lease, all Base Rent and Additional Rent shall be paid in equal consecutive monthly instalments due in advance monthly installments on the first day of each and every calendar month during the Term. Subject to section 4.3, the first monthly instalment of the Annual Base Rent shall be paid by to Landlord at its address recited in Section 27.7, or to such other person or at such other address in the Tenant United States as Landlord may from time to time designate in writing. Rent shall be paid without notice, demand, abatement, deduction or offset in legal tender of the United States of America. The Base Rent for the first full calendar month of the Lease Term shall be paid on the Commencement Date of the TermLease. The Landlord In addition, if the Term commences or ends on other than the first or the last day of a calendar month, the Base Rent for the partial month shall remit to be prorated on the Tenant, before each basis of the number of days during the applicable month. If the Lease Term commences or ends on other than the first or the last day of a Fiscal Year, the estimated amount Additional Rent for the partial Fiscal Year calculated as provided in paragraph 5.3 above shall be prorated on the basis of the Additional Rent (other than number of days during the portion thereof which the applicable Fiscal Year. All payments received by Landlord from Tenant shall pay directly be applied to third parties) and the oldest payment obligation owed by Tenant to Landlord. No designation by Tenant, either in a separate or on a check or money order, shall modify this clause or have any force or effect. The Rent to be paid by Tenant or any Transferee hereunder shall not be based, in whole or in part, on the income or profits derived from the lease, use or occupancy of the Management Fee for that period, and Premises. In the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant event Landlord's Mortgagee succeeds to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery 's interests under this Lease and determines that all or any portion of the above-mentioned statementRent payable hereunder is or may be deemed to be unrelated business income within the meaning of the United States Internal Revenue Code or regulations issued thereunder, Landlord's Mortgagee may elect unilaterally to amend the calculation of Rent such that none of the Rent payable under this Lease will constitute unrelated business income; provided, however, that any such amendment shall not increase Tenant's payment obligations or other liabilities, or reduce the obligations of Landlord, under this Lease.
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Payment of Rent. The Annual Concurrently with ▇▇▇▇▇▇’s execution of this Lease, Tenant shall pay to Landlord the amount set forth in Section L of the Summary as prepayment of rent for credit against the first installment(s) of Base Rent Monthly Rent. All rent required to be paid in monthly installments shall be paid in equal consecutive monthly instalments in advance on the first day of each and every calendar month during the Lease Term. Subject to section 4.3, If the date of an increase in Base Monthly Rent does not fall on the first monthly instalment day of a calendar month, such increase shall become effective on the first day of the Annual Base next calendar month. All rent shall be paid in lawful money of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided in Sections 5.2, 11.4 and 12.3), and without any prior demand therefor. Rent shall be paid by to Landlord at its address set forth in Section R of the Tenant Summary, or at such other place as Landlord may designate from time to time. Tenant’s obligation to pay Base Monthly Rent and ▇▇▇▇▇▇’s Share of Common Operating Expenses shall be prorated at the commencement and expiration of the Lease Term. In the event that the Lease Term commences on a date other than the first day of a calendar month, on the Commencement Date Tenant shall pay to Landlord as Base Monthly Rent for the period from such Commencement Date to the first day of the first full calendar month that proportion of the Base Monthly Rent hereunder which the number of days between such Commencement Date and the first day of the next succeeding calendar month bears to thirty (30); the Base Monthly Rent prepaid pursuant to Section L of the Summary shall then be applied to the Base Monthly Rent due for the first full calendar month of the Lease Term. The Landlord shall remit to In the Tenant, before each event that the Lease Year, the estimated amount of the Additional Rent (Term is terminated for any reason on a date other than the portion thereof which last day of a calendar month, on the first day of the last calendar month of the Lease Term Tenant shall pay directly to third parties) Landlord as Base Monthly Rent for the period from said first day of said last calendar month to and including the last day of the Management Fee for Lease Term that period, proportion of the monthly Base Monthly Rent hereunder which the number of days between said first day of said last calendar month and the monthly payments of Additional Rent and Management Fee which are payable to the Landlord shall then be established for said Lease Year based on that estimate. The Landlord may from time to time during a Lease Year re-evaluate its estimate of such Additional Rent and last day of the Management Fee, and in such case shall notify the Tenant in writing of the re-evaluation and establish monthly payments for the unexpired period of such Lease Year or of such part only of a Lease Year, so that after the Tenant is credited with the appropriate amounts paid by the Tenant in accordance with the previous estimate, such Additional Rent and the Management Fee is paid in full during such Lease Year or during a part only of such Lease Year. After each Lease Year, the Landlord shall remit term hereof bears to the Tenant a statement indicating the actual amount of the Additional Rent (other than the portion thereof which the Tenant has paid directly to third parties) and of the Management Fee for the said Lease Year. Should the amount of such Additional Rent and of the Management Fee then determined by the Landlord be greater or less than the total of the amounts already paid by the Tenant to the Landlord, then appropriate adjustments will be made within thirty (30) days following the delivery of the above-mentioned statement).
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