Common use of Rent and Rental Clause in Contracts

Rent and Rental. Period All rental payments and any other amounts payable under a lease are collectively referred to as "Rent." The Rental Period shall mean the rental payment period of either calendar months, quarters, or as otherwise specified in each Schedule. Rent for the specified Rental Period is due and payable in advance, to the address specified in Lessor's invoice, on the first day of each Rental Period during the Initial Term and any extension (collectively, the "Lease Term"), provided, however, that Rent for the period of time (if any) from the Commencement Date to the first day of the first Rental Period shall begin to accrue on the Commencement Date. If any Rent is not paid when due, Lessee will pay a service fee equal to five percent (5%) of the overdue amount plus interest at the rate of one and one-half percent (1.5%) per month or the maximum legal interest rate, whichever is less.

Appears in 1 contract

Samples: Sun Microsystems Finance Master Lease Agreement (Wordcruncher Internet Technologies)

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Rent and Rental. Period All rental payments and any other amounts payable under a lease Lease are collectively referred to as "Rent." ". The Rental Period shall mean the rental payment period of either calendar months, quarters, or as otherwise specified in each Schedule. Rent for the specified Rental Period is due and payable in advance, to the address specified in Lessor's invoice, on the first day of each Rental Period during the Initial Term and any extension (collectively, the "Lease lease Term"), provided, however, that Rent for the period of time (if any) from the Commencement Date to the first day of the first Rental Period shall begin to accrue on the Commencement commencement Date. If any Rent is not paid when due, Lessee will pay a service fee equal to five percent (5%) of the overdue amount plus interest at the rate of one and one-one half percent (1.5%) per month or the maximum legal interest rate, whichever is less.

Appears in 1 contract

Samples: Finance Master Lease Agreement (Logio Inc)

Rent and Rental. Period All rental payments and any other amounts payable under a lease Lease are collectively referred to as "Rent." The Rental Period shall mean the rental payment period of either calendar months, quarters, or as otherwise specified in each Schedule. Rent for the specified Rental Period is due and payable in advance, to the address specified in Lessor's invoice, on the first day of each Rental Period during the Initial Term and any extension (collectively, the "Lease Term"), provided, however, that Rent for the period of time (if any) from the Commencement Date to the first day of the first Rental Period shall begin to accrue on the Commencement Date. If any Rent is not paid when due, Lessee will pay a service fee equal to five percent (5%) of the overdue amount plus Lessor interest at the rate of one and one-one half percent (1.5%) per month or (i.e. 18% per annum) on the maximum legal interest rate, whichever is lessamount of unpaid Rent.

Appears in 1 contract

Samples: Master Lease Agreement (Infocast Corp /Nv)

Rent and Rental. Period All rental payments and any other amounts payable under a lease Lease are collectively referred to as "Rent." ". The Rental Period shall mean the rental payment period of either calendar months, quarters, or as otherwise specified in each Schedule. Rent for the specified Rental Period is due and payable in advancearrears, to the address specified in Lessor's invoice, on the first last day of each Rental Period during the Initial Term and any extension (collectively, the "Lease Term"), provided, however, that Rent for the period of time (if any) from the Commencement Date to the first day of the first Rental Period shall begin to accrue on the Commencement Date. If any Rent is not paid when due, Lessee will pay a service fee equal to five percent (5%) of the overdue amount plus interest at the rate of one and one-one half percent (1.5%) per month or the maximum legal interest rate, whichever is less.

Appears in 1 contract

Samples: Credit and Warrant Agreement (Digital Island Inc)

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Rent and Rental. Period All rental payments and any other amounts payable under a lease Lease are collectively referred to as "Rent." ". The Rental Period shall mean the rental payment period of either calendar months, quarters, or as otherwise specified in each Schedule. Rent for the specified Rental Period is due and payable in advance, to the address specified in Lessor's invoice, on the first day of each Rental Period during the Initial Term and any extension (collectively, the "Lease Term"), provided, however, that Rent for the period of time (if any) from the Commencement Date to the first day of the first Rental Period shall begin to accrue on the Commencement Date. If any Rent is not paid when due, Lessee will pay a service fee equal to five percent (5%) of the overdue amount plus interest at the rate of one and one-one half percent (1.5%) per month or the maximum legal interest rate, whichever is less.

Appears in 1 contract

Samples: Master Lease Agreement (NMXS Com Inc)

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