Rent, Etc Clause Samples

Rent, Etc. 3 Section 2.02. Excepted Payments........................................ 4 Section 2.03.

Rent, Etc. (a) The annual Basic Rent for each year of the Extended Term shall be the Fair Market Rental Value of the Premises (exclusive of the cost of supplying Tenant electricity), to be established as of the commencement of the Extended Term (the “Determination Date”). The term “Fair Market Rental Value” shall mean the annual fixed rent that a willing tenant would pay and a willing landlord would accept, each acting in its own best interest and without duress, in an arms-length lease of the Premises as of the Determination Date. If Landlord and Tenant shall fail to agree upon the Fair Market Rental Value within six (6) months before the Determination Date, then Landlord and Tenant each shall give notice (the “Determination Notice”) to the other setting forth their respective determinations of the Fair Market Rental Value, and, subject to the provisions of paragraph (b) below, either party may apply to the then president of the Real Estate Finance Association of the Greater Boston Real Estate Board, or any successor thereto, for the designation of an arbitrator satisfactory to both parties to render a final determination of the Fair Market Rental Value. That there shall be only one arbitrator, who shall have had at least ten (10) years’ experience as a real estate broker or appraiser in the greater Boston/Waltham office rental market. The arbitrator shall conduct such hearings and investigations as the arbitrator shall deem appropriate and shall, within thirty (30) days after having been appointed, choose one of the determinations set forth in either ▇▇▇▇▇▇▇▇’s or Tenant’s Determination Notice, and that choice by the arbitrator shall be binding upon Landlord and Tenant. Each party shall pay its own counsel fees and expenses, if any, in connection with any arbitration under this paragraph (a), and the parties shall share equally all other expenses and fees of any such arbitration. The determination rendered in accordance with the provisions of this paragraph (a) shall be final and binding in fixing the Fair Market Rental Value. The arbitrator shall not have the power to add to, modify, or change any of the provisions of this Lease.

Rent, Etc. 3 Section 2.02.

Rent, Etc. 1.1 This lease is contingent on the acquisition of the Building by the Landlord pursuant to an Agreement of Sale dated December 23, 1999 between J & J Associates and Landlord. Upon the transfer of title of the Building, the terms and conditions set forth herein will be valid and binding obligations on the parties hereto. In the event that the transfer of title does not occur prior to the Commencement Date, as hereinafter defined, this Agreement of Lease shall be terminated and Landlord will refund any sums paid hereunder. Upon such refund, this Agreement will become null and void and the parties hereto shall be relieved of all further obligations and liabilities to each other. 1.2 Tenant shall pay to Landlord a fixed annual rent, from the Commencement Date (as defined in section 3.1) through and including the last day of the fifth lease year (as defined in section 1.4). During the first two years of the lease the fixed annual rent will be $95,000 per annum ($7,916.67 per month). Commencing on the first day of the third lease year through and including the last day of the fifth lease year the fixed annual rent will be $105,000 per annum ($8,750.00 per month). Tenant agrees to pay the fixed annual rent in equal monthly installments in advance on the first day of each calendar month during the term of this Lease, without notice, demand or invoice. Tenant agrees to pay said fixed annual rent in lawful money of the United States, at the office of Landlord or such other place in the United States of America as Landlord may designate, without any setoff or deduction whatsoever. Should the Commencement Date occur on any day other than on the first day of a month, then the fixed annual rent for the unexpired portion of such month shall be adjusted and prorated on a per diem basis. All sums other than fixed annual rent payable by Tenant hereunder shall be deemed additional rent and payable on demand, unless other payment dates are hereinafter provided. 1.3 The first monthly installment of fixed annual rent due under this Lease together with the security deposit set forth in Article 35, shall be paid by Tenant on execution of this Lease.

Rent, Etc. In the event that Tenant exercises the TI Allowance Reduction Option, the Lease shall continue to be governed by the terms and conditions hereof; provided, however, that the Annual Rent, Monthly Installment of Annual Rent, the initial Security Deposit payable under the Lease and the Letter of Credit shall be changed from that set forth on the Reference Pages of the Lease (or Section 14 of this Addendum, if applicable) to one of the alternate amounts set forth below depending upon whether Tenant exercises the Expansion Option: ANNUAL RENT and MONTHLY INSTALLMENT OF ANNUAL RENT (Article 3): 4/1/2004 4/30/2004 $ 777,600.00 $ 64,800.00 $ 1,049,760.00 $ 87,480.00 5/1/2004 6/30/2004 $ 0.00 $ 0.00 $ 0.00 $ 0.00 7/1/2004 3/31/2005 $ 800,928.00 $ 66,744.00 $ 1,081,252.80 $ 90,104.40 4/1/2005 3/31/2006 $ 824,955.84 $ 68,746.32 $ 1,113,690.36 $ 92,807.53 4/1/2006 3/31/2007 $ 849,704.52 $ 70,808.71 $ 1,147,101.12 $ 95,591.76 4/1/2007 3/31/2008 $ 875,195.64 $ 72,932.97 $ 1,181,514.12 $ 98,459.51 4/1/2008 3/31/2009 $ 901,451.52 $ 75,120.96 $ 1,216,959.60 $ 101,413.30 4/1/2009 3/31/2010 $ 928,495.08 $ 77,374.59 $ 1,253,468.40 $ 104,455.70 4/1/2010 3/31/2011 $ 956,349.96 $ 79,695.83 $ 1,291,072.44 $ 107,589.37 4/1/2011 3/31/2012 $ 985,040.40 $ 82,086.70 $ 1,329,804.60 $ 110,817.05 4/1/2012 3/31/2013 $ 1,014,591.60 $ 84,549.30 $ 1,369,698.72 $ 114,141.56 4/1/2013 3/31/2014 $ 1,045,029.36 $ 87,085.78 $ 1,410,789.72 $ 117,565.81 SECURITY DEPOSIT WITH EXPANSION OPTION: $100,602.00 increased annually as necessary so as to equal at least 105% of the current Monthly Installment of Annual Rent. SECURITY DEPOSIT WITHOUT EXPANSION OPTION: $74,520.00 increased annually as necessary so as to equal at least 105% of the current Monthly Installment of Annual Rent. LETTER OF CREDIT WITH EXPANSION OPTION: $278,437.50 LETTER OF CREDIT WITHOUT EXPANSION OPTION: $206,250.00

Rent, Etc. Pro-ration. Rent, including both Base Rent and any Additional Rent (as defined in the Facility Lease), under the Facility Lease for the then current period and electric, water and sewer charges shall be pro-rated as of the Closing Date, and the full value shall be adjusted; the net amounts thereof shall be added to, or deducted from, as the case may be, the total Purchase Price payable by Buyer to LEC at the Closing.

Rent, Etc. The Trustor and the Owner Trustee acknowledge that the Lease will be security for the Certificates pursuant to the Indenture which provides that all moneys payable by the Lessee to the Owner Trustee under the Lease (other than Excepted Payments) are to be first paid to the Indenture Trustee while the Lien of the Indenture is in effect, for distribution in accordance with the terms of Article V of the Indenture. Except for amounts received from the Indenture Trustee, which shall be applicable only in accordance with clause (iii) below, the Owner Trustee shall promptly apply each payment of the Rent (other than Excepted Payments), Stipulated Loss Value, Termination Value, and any proceeds from the sale, requisition or disposition of the Aircraft received by it as follows:

Rent, Etc. C.1 The Lessee covenants with the Lessor that the Lessee will pay to the Lessor during the term of this Lease rent (hereinafter called "base rent") at the rate of the amount per annum stated in Item 6 (subject however to Clause C2). The base rent shall be paid by the Lessee to the Lessor as follows:- (a) Where the commencing date of this Lease is the first day of any month, by a payment to be made on or before such commencing date equal to one-twelfth of the amount of the base rent. (b) Where the commencing date of this Lease is not the first day of any month, by a payment to be made on or before such commencing date equal to that amount which bears to the amount of the base rent the same ratio as the number of days in the period from such commencing date to the first day of the month following bears to 365. (c) By payments to be made on the first day of each month following the commencing date of this Lease during the term of this Lease, each equal to one-twelfth of the amount of the base rent provided however that where that date stated in Item 4 is not the last day of any month then the last of such payments shall be that amount which bears to the amount of the base rent the same ratio as the number of days in the period from the first day of the month stated in Item 4 to the day of that month stated in Item 4 bears to 365. (a) At any time prior to or after the commencing date the Lessor may notify the Lessee in writing of the amount which the Lessor considers to be the annual market rent of the premises as from that particular review date until the next applicable review date or the termination date whichever shall be the sooner to occur and unless the Lessee within one (1) month of the date of delivery of the Lessor's notice referred to in this Clause notifies the Lessor in writing that the Lessee requires such rent to be determined then the amount stated in the Lessor's notice given under this Clause shall become the rent reserved by this Lease as and from that particular review date in substitution for the amount stated in ITEM 6 or where applicable the rent determined at any previous review date. (b) In the event that the Lessee disputes the Lessor's assessment as aforesaid then the Lessor may request the President or other senior office bearer of the Australian Institute of Valuers and Land Economists (Inc.) NSW Division or its successor to nominate a member of the Institute or its successor who shall determine a proper base rent for the premises ...

Rent, Etc. 1.01 Tenant shall pay to Landlord a fixed annual rent (excluding electricity) at the followings rates: A. $340,687.50 per annum for the first (1st) lease year;