Rent Sample Clauses
The RENT clause defines the amount, timing, and method of payment that a tenant must provide to a landlord for the use of leased premises. Typically, it specifies the base rent, due dates (such as monthly or annually), acceptable payment methods, and may address adjustments like late fees or rent increases. By clearly outlining these terms, the clause ensures both parties understand their financial obligations, reducing the risk of disputes and providing a predictable framework for payment throughout the lease term.
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Rent. Beginning on the Commencement Date, Tenant covenants and agrees to pay, without abatement, deduction or offset except as otherwise specifically provided herein, to Landlord, “Base Rent” for the Premises, on or before the first (1st) day of the first (1st) full calendar month of the Term hereof and on or before the first (1st) day of each and every successive calendar month thereafter during the full Term of this Lease and any renewal thereof, subject to the adjustments as provided hereinafter along with any applicable tax as defined herein, at the then current rate. If the Commencement Date occurs on a day other than the first (1st) day of a calendar month, the first Base Rent payment shall be in the amount of the Base Rent for one (1) full calendar month plus the prorated Base Rent for the calendar month in which the Commencement Date falls, such payment to be due on the Commencement Date. The Prepaid Rent described above shall be applied by Landlord to the Rent payable for the first full month that Rent is due. If Tenant fails to pay any regular monthly installment of Base Rent or Landlord’s Operating Costs or any other monthly amounts by the seventh (7th) day of the month in which such installment is due (provided that Landlord will be required to give Tenant written notice of Tenant’s failure to pay any such monthly payments two (2) times in any twelve (12) month period prior to such late fees being charged), or if Tenant fails to pay any other sum of money within thirty (30) days after written notice by Landlord to Tenant, or if any check delivered for the payment of Rent is returned for insufficient funds, there will be added to the unpaid amount a late charge based on the monthly prorata percentage of the Default Rate and applied to the amount due to compensate Landlord for the extra administrative expenses incurred. Notwithstanding anything to the contrary above, Landlord agrees that it will not impose the aforesaid late charges unless Tenant has failed to pay any installment of Rent on the due date thereof (and such failure shall not have been cured on or before the last day of any grace period, if any) two (2) times in any twelve (12) month period. The Base Rent payable by Tenant to Landlord shall be in accordance with the following schedule:
a. Phase 1: 1 $ 13.50 $ 36,392.63 2 $ 13.50 $ 36,392.63 3 $ 13.50 $ 36,392.63 The Base Rent shall be adjusted at the beginning of the fourth (4th) Lease Year by multiplying the Base Rent then being paid by a...
Rent. (a) Sublessee shall pay to Sublessor the following base rent for the Subleased Premises (the “Base Rent”). The Base Rent and the Extra Rent (as defined below) shall be collectively referred to in this Sublease as the “Rent”.
(b) Notwithstanding anything set forth herein to the contrary, Sublessee shall be responsible for paying, as “Extra Rent,” for the cost of Sublessee’s pro rata share of the Additional Rent set forth in the Prime Lease that is required to be paid by Sublessor, excluding (i) any such Extra Rent relating solely to any portion of the Premises that does not include the Subleased Premises or which is solely for Sublessor’s benefit and (ii) any Extra Rent relating to Laboratory Support Expenses. For clarity, Sublessee, at its expense, shall be responsible to provide janitorial services, telecommunications, information technology, security and alarm systems to the Subleased Premises. Any systems that pertain to the foregoing that are installed by Sublessee shall be removed at the end of Sublessee’s occupancy of the Subleased Premises Sublessor’s pro rata share of the Additional Rent for the Building is [16.60%], which is approximately [51.15%] of Sublessor’s pro rata share of the Additional Rent. For avoidance of doubt, Sublessee shall not be responsible to pay for any portion of Extra Rent relating to any time prior to the Rent Commencement Date.
(c) Sublessee shall begin paying Rent to Sublessor on the date that is one (1) month after the Commencement Date (the “Rent Commencement Date”), and shall not owe Rent to Sublessor for any period prior to the Rent Commencement Date. All monthly payments of Rent and Extra Rent are due and payable in advance on the first day of each calendar month, without demand, deduction, counterclaim or setoff, except as set forth or incorporated herein. Rent for any partial month shall be prorated and paid on the first business day of such month. Sublessee shall make all payments required by this Sublease by wire transfer.
(d) Upon the payment of any amount of the Building Allowance (as defined in the Work Letter) for the Improvements (as defined in the Work Letter), the annual Base Rent shall be increased by the total amount drawn by the Sublessee (the “Building Allowance Drawn”), amortized (without interest) on a straight-line basis over the balance of the Term commencing as of the Rent Commencement Date (the aggregate of which is hereinafter referred to as the “Aggregate Building Allowance Drawn”) such that the...
Rent. The rent to be paid by the Tenant to the Landlord throughout the Lease Term is to be made in monthly installments of $_ (the “Rent”). The Rent shall be due on the day of each month (the “Due Date”). The Rent shall be paid via the following instructions: _ _.
Rent. ▇▇▇▇▇▇ agrees to pay to Landlord, without demand, deduction, setoff, counterclaim or offset, Rent for the Term. Tenant shall pay the Monthly Base Rent, in advance, by the first (1st) day of each calendar month during the Term, at Landlord’s address designated in Section 1 above unless Landlord designates, in writing, otherwise. If the Commencement Date is not the first day of the month, the Monthly Base Rent for that partial month shall be apportioned on a per diem basis and shall be paid on or before the Commencement Date. Tenant shall pay Landlord a service and handling charge equal to 5% of any Rent not paid within five (5) days after the date due. In addition, any Rent not paid within five (5) days after the due date will bear interest at the Interest Rate from the date due to the date paid. Tenant shall pay before delinquent all taxes levied or assessed upon, measured by, or arising from: (a) the conduct of Tenant’s business; (b) Tenant’s leasehold estate; (c) Tenant’s property; or (d) amounts payable by Tenant under this Lease, including all sales, use, transaction privilege, or other excise tax. Monthly Base Rent plus Tenant’s reimbursement for Operating Expenses shall comprise all of Tenant’s monetary obligations under this Lease. This Lease is a Net Lease. Monthly Base Rent shall be paid to Landlord absolutely net of all Operating Expenses, subject to the provisions of this Lease. The provision for Tenant’s payment of Operating Expenses is intended to pass on to Tenant and reimburse Landlord for all Operating Expenses.
Rent. 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term.
7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined in Section 9.l(c) below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.
7.3. Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in the month and shall be paid at the then-current rate for such fractional month.
7.4. Except as expressly provided herein, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by (a) any Applicable Laws now or hereafter applicable to the Premises, (b) any other restriction on Tenant’s use, (c) any casualty or taking or (d) any other occurrence; and Tenant 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 ▇▇▇▇▇ rent. Tenant’s obligation to pay Rent with respect to any period or obligations arising, existing or pertaining to the period prior to the date of the expiration or earlier termination of the Term or this Lease shall survive any such expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to any other period.
Rent. The Tenant shall pay the Landlord, in equal monthly installments,
Rent. The Tenant shall pay the Landlord, in equal monthly installments, $[MONTHLY RENT] ("Rent"). The Rent shall be due on the [#] of every month (“Due Date”) and paid under the following instructions: [RENT PAYMENT INSTRUCTIONS]
Rent. (a) During the period of July 1, 1990 through June 30, 1992, unless amended sooner, the annual rent for the premise outlined on Exhibit A-1 shall be Four Hundred Eighteen Thousand Four Hundred Fifty Six and 80/100 Dollars ($418,456.80) annually, payable in advance in twelve equal installments of Thirty Four Thousand Eight Hundred Seventy One and 40/100 Dollars ($34,871.40). No later than July 1, 1992 through June 30, 1995, rent will be increased to reflect the premise in Exhibit A-2 to Four Hundred Ninety Thousand One Hundred Sixty Eight and 80/100 Dollars ($490,168.80) annually, payable in advance in twelve equal installments of Forty Thousand Eight Hundred Forty Seven and 40/100 Dollars ($40,847.40).
(b) Such rent shall be paid as and when due to ▇▇▇▇▇▇ Center, Inc. at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, or to such other payee or at such other address as Lessor hereafter may designate by written notice to Lessee. Payment of rent to any payee so designated by Lessor shall acquit Lessee from all responsibility therefore or for the proper distribution thereof.
(c) If Lessor should assign this Lease or the rents hereunder, or if Lessor should convey the Leased Premises hereunder, the assignor and assignee or the grantor and grantee, as the case may be, shall give Lessee written notice of such assignment or conveyance. Written instructions for payment of rent thereafter payable hereunder hall also be given by such assignee or grantee. Payment of rent in accordance with Paragraph 3 (b) hereof shall acquit Lessee from all responsibility for the payment of rent or for the proper distribution thereof prior to receipt by Lessee of such written notice and instructions.
(d) It is understood that the rent specified in Paragraph 3 (a) hereof, does not anticipate any increase or decrease in the amount of taxes on the Building and the real property thereof or in the cost of payable throughout the term of this Lease shall reflect any such increase or decrease the parties agree as hereinafter in this section set forth. Certain terms are defined as follows:
(1) The Base Expense Year shall be the twelve (12) month period commencing January 1, 1990. 02/L33 -2- 04/04/90 Rev. 05/03/90
(2) Subsequent Expense Year. Each twelve (12) month period commencing (i) on the anniversary of the commencement of the Base Expense Year and (ii) within the term of this Lease.
(3) Expenses for the Base Expense Year. All expenses incurred by Lessor and properly charged to those management, op...
Rent. (a) From and after the Commencement Date, Subtenant shall pay to Sublandlord annual fixed rent (the “Fixed Rent”) in the amounts set forth on Schedule 4 attached hereto. Fixed Rent shall be payable in advance in the monthly installments set forth on Schedule 4, pro-rated on a per diem basis in the case of any partial months during the Term. Except as otherwise set forth herein, each monthly installment of Fixed Rent shall be payable on or before the first day of each month, without notice or demand and without abatement, set-off or deduction.
(b) From and after the Commencement Date, Subtenant agrees to pay to Sublandlord, as additional rent hereunder, an amount equal to all of the Real Estate Taxes (as defined in Section 5.(B)(1) of the ▇▇▇▇▇▇▇▇▇) and Operating Expenses (as defined in Section 5.(C)(1) of the ▇▇▇▇▇▇▇▇▇) due from Sublandlord to Overlandlord pursuant to Sections 5.(B) and 5.(C) of the ▇▇▇▇▇▇▇▇▇, respectively (collectively, “Direct Expenses”). Sublandlord shall provide Subtenant with evidence of its payment of the Direct Expenses to Overlandlord within five (5) business days of the date Sublandlord makes such payment to Overlandlord.
(c) So long as Subtenant is not then in material default under this Sublease (beyond any applicable notice and cure period), Fixed Rent and Direct Expenses shall be abated for the period (the “Free-Rent Period”) beginning on the Commencement Date and continuing through March 31, 2011. In addition, during the Free-Rent Period, Sublandlord shall pay all utilities and other operating costs for the Subleased Premises. In the event of a termination of this Sublease prior to December 31, 2015, as a result of any default by or on behalf of Subtenant, any such Fixed Rent and Direct Expenses previously abated hereunder shall be immediately due and payable from Subtenant to Sublandlord.
(d) In addition to the Fixed Rent and Direct Expenses, Subtenant agrees to pay to Sublandlord all Subtenant Surcharges (as hereinafter defined) as additional rent hereunder. As used herein, the term “Subtenant Surcharges” shall mean any and all amounts which become due and payable by Sublandlord to the Overlandlord under the ▇▇▇▇▇▇▇▇▇ (without additional charge or profit to Sublandlord) as “Additional Rent” (as such term is defined in the ▇▇▇▇▇▇▇▇▇) which would not have become due and payable but for the acts and/or failures to act of Subtenant under this Sublease or which are otherwise attributable to the Subleased Premises, including, but...
Rent. A. Payment - Rent is as set forth in the Rent Installment Addendum and as further described herein. Rent shall be paid in advance, without offset, deduction, or demand either electronically using Landlord’s website located at ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, at Landlord’s rental office located at ▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or at such other place or in such other manner as Landlord may designate by advance written notice. Except as described herein, payment must be made either electronically or by check, money order, cashier’s check, certified check, or other method acceptable to Landlord upon written advance notice to Resident. NO CASH WILL BE ACCEPTED BY LANDLORD. NO PAYMENTS WILL BE ACCEPTED clear as payments to either “University Management, Inc.” or “DMI Corporation”.
B. Due Date and Late Fee – If rent is paid in monthly installments, the first installment is due on or before the beginning of the Lease Term and all subsequent installments are due by the fifteenth (15th) day of each month thereafter. Rent is considered late on the sixteenth (16th) day of each month. If Landlord does not RECEIVE the total monthly installment, and/or any other amount due Landlord set forth in this Lease Agreement, on or before 5:00 p.m. on the twentieth (20th) day of each month during the Lease Term, or within five (5) days of Resident’s receipt of written notice from Landlord if the Lease Term has expired, a late fee of ten percent (10.0%) of the total outstanding balance then due and owing will be charged and immediately payable to Landlord. Late fees will continue to accrue monthly at a rate of ten percent (10%) of the total outstanding balance, including late fees, until the total outstanding balance is paid in full. Landlord will not consider postmarks or any other third party designation as evidence of payment in determining the date or time of the RECEIPT of any payment. Payment is considered RECEIVED when submitted electronically using Landlord’s website, when presented to Landlord by the United States Postal Service or other third party courier utilized by or on behalf of Resident, when presented to Landlord at Landlord’s rental office, when placed in Landlord’s rental drop box located at Landlord’s rental office, or when made in any other form acceptable to Landlord upon written advance notice to Resident. Acceptance of partial payments of any kind by Landlord does not constitute payment in full nor does it constitute waiver of any notices issued. A...