Common use of Rent Clause in Contracts

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs.

Appears in 2 contracts

Sources: Lease Agreement (Abaxis Inc), Lease Agreement (Abaxis Inc)

Rent. On the date that 4.01. Tenant executes shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, Tenant shall deliver all Base Rent and Additional Rent due for the Term (collectively referred to Landlord the original executed Leaseas “Rent”), the Advance Rent (which shall be applied against the Rent payable parties acknowledging that this Lease expressly provides for the first month(sabatement of the Abated Base Rent as provided in Section 1.03 hereof. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant Landlord under Section 12 and Exhibit B of this Lease. Tenant agrees to shall pay Landlord and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be due and payable in advance on the Base Rent, first day of each calendar month without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on provided that the Commencement Date and thereafter on installment of Base Rent for the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) full calendar month of the Term Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease (provided, however, that Landlord has actually received the Advance by Tenant. All other items of Rent as provided herein)shall be due and payable by Tenant on or before 30 days after billing by Landlord. In addition Rent shall be made payable to the Base Rententity, and sent to the address, Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to Landlord. If Tenant does not pay any Rent when due hereunder, Tenant shall pay Landlord an administration fee in advance on the Commencement Date and thereafter on amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 Business Days for the first (1st) day 2 late payments of each month throughout Rent in a calendar year. In addition, past due Rent shall accrue interest at 10% per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Landlord’s acceptance of less than the balance correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term of shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Except as specifically set forth in this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant ’s covenant to pay rental payments for a period Rent is independent of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month every other covenant in which the date of expiration or termination occursthis Lease.

Appears in 2 contracts

Sources: Office Lease Agreement (Akebia Therapeutics, Inc.), Office Lease Agreement (Akebia Therapeutics, Inc.)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver pay Rent to Landlord (or to such Person as Landlord may direct (in writing)) during the original executed LeaseTerm, in lawful money of the Advance Rent (United States of America which shall be applied against the Rent payable legal tender for the first month(s) Tenant is required to pay Rent), the Security Deposit, payment of public and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rentprivate debts, without prior notice or demandoffset, abatement, offsetdemand or deduction, deduction except as hereinafter expressly provided. All payments of Rent to Landlord shall be made by wire transfer of immediately available federal funds or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition by other means acceptable to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date its sole discretion. Base Rent and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent Debt Service Costs for any fractional part of a calendar partial month at the commencement or expiration or termination of the Lease Term shall be prorated on a prorated amount of the Rent for per diem basis based on a full calendar month based upon a 360 day year and twelve (12) thirty (30) day monthmonths. To the extent not already paid as part In addition, if directed to do so by Landlord in writing, Tenant shall pay a portion of the Advance Base Rent directly to any prorated Rent Facility Mortgagee in an amount specified in such Notice to Tenant. Notwithstanding the foregoing, if in connection with any Facility Mortgage Landlord is unable to obtain from the Facility Mortgagee a Subordination Agreement not to disturb Tenant's right to possession in the event of a foreclosure of such Facility Mortgage, then Tenant shall be paid on have the Commencement Dateright, at Tenant's sole election, to pay directly to the Facility Mortgagee all monthly payments due and payable or otherwise required thereunder. If Tenant elects to make such payments directly to the Facility Mortgagee, then (i) upon each monthly payment Tenant shall simultaneously therewith deliver to Landlord evidence reasonably acceptable to Landlord that such payment was made, and (ii) Tenant hereby agrees to indemnify, defend and hold harmless Landlord from any prorated claims, losses or damages that Landlord suffers as a result of any failure, default or defect in Tenant's making such payment on Landlord's behalf. Any payments made directly by Tenant under this Paragraph may be off-set against Base Rent for the final payable by Tenant during such calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursmonth.

Appears in 2 contracts

Sources: Property Lease Agreement (Provident Senior Living Trust), Property Lease Agreement (Brookdale Senior Living Inc.)

Rent. On (a) Tenant shall pay to Landlord as rental the date amount specified in the Basic Lease Information as the Base Rent. Base Rent for the first month shall be payable upon Tena▇▇'▇ ▇xecution of this Lease and in advance on or before the first day of the first full calendar month following commencement of the term and of each successive calendar month thereafter during the term. If the term commences on other than the first day of a calendar month any excess payment of Base Rent shall be credited against the last payment of Base Rent otherwise due. (b) Tenant shall pay, as additional rent, all amounts of money required to be paid to Landlord by Tenant hereunder in addition to monthly rent, whether or not the same be designated "additional rent." (c) Tenant hereby acknowledges that late payment by Tenant executes to Landlord of rent and other amounts due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any loan secured by the Building. Accordingly, if any installment of rent or any other sums due from Tenant shall deliver not be received by Landlord on, or prior to, the date due, Tenant shall pay to Landlord the original executed Lease, the Advance Rent a late charge equal to five percent (which shall be applied against the Rent payable for the first month(s5%) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (such overdue amount; provided, however, that no such late charge shall be payable if one time during any 12-month period Tenant does not pay any such sum when due but then pays such amount with in three business days following Land▇▇▇▇'▇ ▇otice. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord has actually received will incur by reason of late payment by Tena▇▇. ▇▇ceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the Advance Rent as other rights and remedies under this Lease. (d) Any amount payable by Tenant to Landlord, if not paid when due, shall bear interest from the date due until paid at the rate of 10% per annum or, if a higher rate is legally permissible, at the highest rate legally permitted, provided herein). In addition that interest shall not be payable on late charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant to the Base Rent, extent such interest would cause the total interest to be in excess of that legally permitted. Payment of interest shall not excuse or cure any default by Tenant under this Lease. (e) All payments due from Tenant to Landlord hereunder shall pay be made to Landlord without deduction or offset in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance lawful money of the Term United States of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month America at the commencement address for payment set forth in the Basic Lease Information, or expiration to such other person or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid at such other place as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursLandlord may from time to time designate by notice to Tenant.

Appears in 2 contracts

Sources: Net Office Tech Lease (Silicon Energy Corp), Net Office Tech Lease (Silicon Energy Corp)

Rent. On the date that Tenant executes this Lease, (a) Tenant shall deliver pay to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable as rental for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of Premises during each month throughout the balance year of the Term of this Lease the Lease beginning amount set forth in Section 1(h) hereof and the second (2ndamount determined pursuant to Section 3(d) hereof during any extension period. Such rental shall be payable in advance, in equal monthly installments upon the first day of each and every month of throughout the Term of the Lease (this Lease; provided, however, that if the lease Term shall commence on a day other than the first day of a calendar month or shall end on a day other than the last day of a calendar month, the rental for such first or last fractional month shall be such proportion of the monthly rental as the number of days in such fractional month bears to the total number of days in the calendar month. (b) Rent and all other charges hereunder shall promptly be paid without prior demand therefor and without deductions or setoffs for any reason whatsoever, except as expressly herein provided, and overdue rent and any other sums payable by Tenant to Landlord has actually received hereunder shall bear interest during delinquency until paid at a rate of interest equal to [***] in excess of the Advance Rent “Prime Rate” published from time to time by The Wall Street Journal (hereinafter referred to as provided hereinthe “Interest Rate”). In addition to the Base Rentaddition, if any payment of rent is not paid when due, Tenant shall pay to Landlord in advance on the Commencement Date and thereafter on the first (1st) day a late charge equal to [***] of each month throughout late payment. Landlord shall have no obligation to accept less than the balance full amount of the Term all installments of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costsrental and interest thereon and all charges hereunder which are due and owing by Tenant to Landlord, and Utility Expensesif Landlord shall accept less than the full amount owing, Landlord may apply the sums received towards any of Tenant’s obligations at Landlord’s discretion. The term "Rent" whenever used herein refers to Notwithstanding the aggregate of all these amounts. If Landlord permits foregoing, Tenant to occupy the Premises without requiring Tenant shall not be required to pay rental the late charge or the interest provided for therein on up to two (2) occasions during each calendar year, provided such payments for are made to Landlord within ten (10) days after Tenant’s receipt of written notice that the same are past due. (c) Landlord’s failure to timely ▇▇▇▇ Tenant shall in no way excuse Tenant from its payment obligations or constitute a period of time, the waiver of the requirement Landlord’s entitlement to pay rental payments shall only apply to the waiver of the Base any charges not timely billed by Landlord. (d) Tenant agrees that all Basic Rental and additional rent (collectively “Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the ”) due under this Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on to Landlord by (i) check mailed to the Commencement Dateaddress set forth in Section 1 (o) hereof or such other address as Landlord shall designate by written notice to Tenant, and any prorated Rent for the final calendar month hereof shall be paid on the first day (ii) wire transfer of the calendar month in which the date of expiration immediately available funds, or termination occurs(iii) electronic funds transfer.

Appears in 2 contracts

Sources: Lease Agreement (Rocket Companies, Inc.), Lease Agreement (Rocket Companies, Inc.)

Rent. On (a) Tenant shall pay to Landlord, as annual rent for the Premises during the Term, the amounts determined in accordance with Exhibit “D” hereto (“Basic Rent”), commencing on the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable hereof for the first month(s) Tenant is required to pay Rent), the Security Deposit, initial month and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claimthereafter, in advance at Landlord's Address on the Commencement Date date hereof, and thereafter continuing on the first (1st) day of each month throughout the balance of during the Term of the Lease beginning the second (2ndeach such day being a “Basic Rent Payment Date”). Each such rental payment shall be made, at Landlord’s sole discretion, (i) month of the Term of the Lease (provided, however, that Landlord has by a check actually received by Landlord before the Advance applicable Basic Rent as provided herein). In addition to the Base RentPayment Date, Tenant shall pay Landlord or (ii) by wire transfer in advance Federal Funds on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesapplicable Basic Rent Payment Date. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Pro rata Basic Rent for any fractional part of a calendar the initial month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement date hereof (b) Tenant shall pay and discharge, as additional rent (collectively, “Additional Rent”): (i) except as otherwise specifically provided herein, all costs and expenses of Tenant, Landlord and any other Persons specifically referenced herein which are incurred in connection or associated with (A) the ownership, use, non-use, occupancy, monitoring, possession, operation, condition, design, construction, maintenance, alteration, repair or restoration of the Premises, (B) the performance of any of Tenant’s obligations under this Lease, (C) any sale or other transfer of the Premises to Tenant under this Lease, including costs and expenses incurred in connection with the payment of a Prepayment Premium, (D) any Condemnation proceedings, (E) the adjustment, settlement or compromise of any insurance claims involving or arising from any of the Premises, (F) the prosecution, defense or settlement of any litigation involving or arising from any of the Premises, this Lease, or, in accordance with the Agreement of Purchase and Sale between the parties, the sale of the Premises to Landlord, (G) the exercise or enforcement by Landlord, its successors and assigns, of any of its rights under this Lease, (H) any amendment to or modification or termination of this Lease made at the request of Tenant, (I) subject to, and included within the limitation set forth in Paragraph 25(a) the Costs of Landlord’s counsel incurred in connection with the preparation, negotiation and execution of this Lease, and the Costs incurred in connection with any act undertaken by Landlord (or its counsel) at the request of Tenant, or incurred in connection with any act of Landlord performed on behalf of Tenant, and (J) any other items specifically required to be paid by Tenant under this Lease; (ii) after the date all or any portion of any installment of Rent is due and not paid by the applicable Basic Rent Payment Date, or date the same is due, an amount (the “Late Charge”) equal to five percent (5%) of the amount of such unpaid installment; except that the first Late Charge in any twelve (12) month period shall not be due and payable unless the amount due has not been received, in immediately available U.S. funds, within five (5) days following the Base Rent Payment Date; (iii) a sum equal to any prorated additional sums (including any late charge, default penalties, interest and fees of Lender’s counsel) which are payable by Landlord to any Lender under any Note by reason of Tenant’s late payment or non-payment of Basic Rent for or by reason of an Event of Default; and (iv) interest at the final calendar rate (the “Default Rate”) of five percent (5%) over the Prime Rate per annum on the following sums until paid in full: (A) all overdue installments of Basic Rent from the respective due dates thereof, (B) all overdue amounts of Additional Rent relating to obligations which Landlord shall have paid on behalf of Tenant, from the date of payment thereof by Landlord, and (C) all other overdue amounts of Additional Rent, from the date when any such amount becomes overdue, except that the first interest charge in any twelve (12) month hereof period shall not be due and payable unless the amount due hasn’t been paid within five (5) days after the date due. (c) Tenant shall pay and discharge (i) any Additional Rent referred to in Paragraph 6(b) when the same shall become due, provided that amounts which are billed to Landlord or any third party, but not to Tenant, shall be paid on within ten (10) days after Landlord’s demand for payment thereof, and (ii) any other Additional Rent, within ten (10) days after Landlord’s demand for payment thereof. (d) In no event shall amounts payable under this Lease exceed the first day of the calendar month in which the date of expiration or termination occursmaximum amount permitted by applicable Law.

Appears in 2 contracts

Sources: Lease Agreement (Pw Eagle Inc), Lease Agreement (Pw Eagle Inc)

Rent. On 3.1 Tenant agrees to pay to Landlord in advance on or before the first day of each month the Base Rent, subject to adjustment as hereinafter provided, without demand, deduction or set off, for each month of the entire Lease Term. One such monthly installment ("Installment") together with the Security Deposit shall be due and payable by Tenant to Landlord in accordance with paragraph 3.3 hereof, and a like monthly installment shall be due and payable without demand on or before the first day of each calendar month succeeding the Commencement Date during the Lease Term. Base Rent for any period of less than a full month shall be prorated, based on one-thirtieth (1/30) of the current monthly Base Rent for each day of the partial month this Lease is in effect. 3.2 If any installment of the Base Rent, or any other sums which become owing by Tenant to Landlord under the provisions hereof, is not received within five (5) days after the due date thereof, without in any way implying Landlord's consent to such late payment, Tenant, to the extent permitted by law, agrees to pay, in addition to said installment of the Base Rent or such other sum owed, a late payment charge equal to ten percent (10%) of the installment of the Base Rent or such other sums owed, it being understood that said late payment charge shall constitute liquidated damages and shall be for the purpose of reimbursing Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late installment payments of the Base Rent and such other sums which become owing by Tenant executes to Landlord hereunder. Landlord and Tenant expressly covenant and agree that in the event of any such late payment by Tenant, the damages so resulting to Landlord will be difficult to ascertain precisely, and that the foregoing charge constitutes a reasonable and good faith estimate by the parties of the extent of such damages and does not constitute interest. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this Lease. 3.3 Tenant shall pay the Security Deposit and the Installment as soon as practicable, but in no event later than August 1, 1997; a failure to pay the Security Deposit and the Installment on or before August 1, 1997 shall constitute an event of material default hereunder. Furthermore, notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to enter into any contracts with any contractor to perform the Tenant Work unless and until Landlord has received the Security Deposit and the Installment, and any delays caused to the Tenant Work by such non-receipt of the Security Deposit and the Installment shall be Tenant Delay. The Security Deposit shall be held by Landlord as security for the performance by Tenant of Tenant's covenants and obligations under this Lease, Tenant it being expressly understood that such deposit shall deliver not be considered an advance payment of rent or a measure of Landlord's damages in case of default by Tenant. Upon the occurrence of any event of default by Tenant, Landlord may (but shall not be obligated to), from time to time, without prejudice to any other remedy, apply the Security Deposit to any arrearage of Rent or to any other damage, injury, expense or liability caused to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), by such event of default. Following any such application of the Security Deposit, and all insurance certificates evidencing Tenant shall pay to Landlord on demand the insurance required amount so applied to restore the Security Deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of the Security Deposit shall be obtained returned by Landlord to Tenant under Section 12 and Exhibit B within thirty (30) days after the expiration of this Lease. Tenant agrees If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date transferee and thereafter on shall have no further liability for the first (1st) day of each month throughout the balance return of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Security Deposit. 3.4 All sums other than Base Rent payable by Tenant to Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term under any provision of this Lease, as including without limitation the amounts due by Tenant pursuant to Article 4 below, shall continue "Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, ." Base Rent and Utility Expenses. The term Additional Rent are herein referred to collectively as "Rent" whenever used herein refers ". All Rent due hereunder shall bear interest from the due date until paid in full at a rate equal to the aggregate lesser of: (a) the prime interest rate in effect from day to day at NationsBank of all these amountsGeorgia, plus three (3) percentage points; or (b) the maximum legal rate allowed by law (the "Default Rate"). If more than the maximum legal rate of interest should ever be collected with regard to any sum due hereunder, said excess amount shall be credited against future payments of Rent thereafter first accruing hereunder. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord permits to Tenant to occupy the Premises without requiring upon written demand by Tenant. 3.5 No payment by Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part or receipt by Landlord of a calendar month at lesser amount than the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated correct Rent shall be paid deemed to be other than a payment on account, nor shall any endorsement or statement or any check or any letter accompanying any check or payment be deemed an accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord's right to recover the Commencement Date, and balance or to pursue any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month other remedy in which the date of expiration this Lease or termination occursotherwise provided by law or equity.

Appears in 2 contracts

Sources: Lease Agreement (Accord Networks LTD), Lease Agreement (Accord Networks LTD)

Rent. On Except for delinquent rent, all rent under the Company's Leases and other income attributable to the Property shall be apportioned on a per diem basis as of midnight on the date that Tenant executes immediately preceding the Closing. All such rent and other income, including commissions earned, for the period preceding the Closing shall be deemed to be property of the applicable Contributors, and all rent and other income for any period commencing as of the Closing and thereafter shall be the property of BNP for the purpose of making the adjustments set forth herein. Amounts owed under this Leaseparagraph shall be paid to the party to whom they are owed in cash at the Closing or during the Post-Closing Adjustment Period. Delinquent rent shall not be prorated, Tenant but shall deliver be deemed the property of the Contributors. Payments received by BNP from tenants of the Property from and after the Closing with respect to Landlord the original executed Lease, the Advance Rent (which Property shall be applied against first to rents and other amounts then due BNP from such tenant and then to such tenant's delinquent rent as of the Rent payable time of apportionment. BNP shall use reasonable efforts to collect delinquent rents for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance benefit of the Term Contributors but in no event shall be obligated to evict or ▇▇▇ any tenants in order to collect such rents and shall cooperate with the Contributors in the collection of the Lease beginning the second (2nd) month of the Term of the Lease (any delinquent amounts; provided, however, that Landlord has actually the Contributors shall not have any rights to evict such tenants for such delinquent amounts. Any amounts received by Contributors on account of rent or other income for the Advance Rent as provided herein). In addition period after the Closing with respect to the Base RentProperty and the related personal property shall be turned over to BNP for application in accordance with the terms of this paragraph. All accounts receivable, Tenant notes, cash and bank accounts of the Company existing as of the Closing Date shall pay Landlord in advance on be transferred at Closing to the Commencement Date and thereafter on appropriate Contributors, other than the first (1st) day of each month throughout the remaining balance of any escrow accounts for tenant improvements and lease commissions held by the Term of this LeaseCompany, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant amount necessary to pay rental payments prorations of taxes, security deposits and amounts which belong to BNP after making the closing adjustments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, rent and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursoperating expenses.

Appears in 2 contracts

Sources: Exchange Agreement (BNP Residential Properties Inc), Exchange Agreement (BNP Residential Properties Inc)

Rent. On Tenant shall pay to Landlord as minimum monthly rent, without ---- deduction, setoff, prior notice, or demand, the date that Basic Monthly Rent described in Paragraph 2.6, above (subject to adjustment as provided in the attached Addendum), in advance, on or before the first day of each calendar month, beginning on the Rent Commencement Date and thereafter throughout the Term. If the Rent Commencement Date is other than the first day of a calendar month, then the Basic Monthly Rent payable by Tenant executes for the first month of the Term following the Rent Commencement Date (which first month shall be payable upon execution of this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which ) shall be applied against prorated on the basis of the actual number of days during the Term occurring during the relevant month. Notwithstanding the foregoing, if Landlord is delayed in completion of Landlord's Work due to any act or omission by Tenant or its agents, employees, contractors, or representatives, then in addition to the Basic Monthly Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term following the Rent Commencement Date, Tenant shall additionally pay to Landlord, upon the Rent Commencement Date, additional rent (at the rate of one-thirtieth of the Basic Monthly Rent per day) for the number of days of such delay. All "Rent" (which includes Basic Monthly Rent, and any items designated as "Additional Rent" hereunder) shall be paid to Landlord at the same address as notices are to be delivered to Landlord pursuant to Paragraph 2.10, above. The Rentable Area of the Premises and the Building is, at Landlord's election, subject to verification by Landlord's space planner or architect. That verification shall be made in accordance with this Paragraph. Tenant's space planner or architect may consult with Landlord's space planner or architect regarding that verification. Verification of the Rentable Area of the Premises shall be done, if at all, within 90 days of the Lease (provided, however, Commencement Date. Verification of the Rentable Area of the Building may be accomplished within such 90-day period or at any time thereafter that Landlord has actually received the Advance Rent as provided herein). In addition there is a change to the Base Rent, Tenant shall pay Landlord in advance on Building necessitating such verification. If Landlord's space planner or architect determines that the Commencement Date and thereafter on the first (1st) day of each month throughout the balance Rentable Area of the Term of Premises or the Building is different from that stated in this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amountsRent that is based on that incorrect amount shall be modified in accordance with that determination. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of timethat determination is made, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term it shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month confirmed in which the date of expiration or termination occurswriting by Landlord to Tenant.

Appears in 2 contracts

Sources: Standard Full Service Gross Office Lease (Copper Mountain Networks Inc), Standard Full Service Gross Office Lease (Copper Mountain Networks Inc)

Rent. On the date that 4.01 Tenant executes shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance all Base Rent and Additional Rent (as hereinafter defined) due for the Term (collectively referred to as “Rent”). Base Rent shall commence on the Commencement Date, subject to the Base Rent Abatement Periods. Anything herein to the contrary notwithstanding, an amount equal to the first full monthly installment of Base Rent, which shall be applied against toward the seventh (7th) month of the Term, plus any fraction of a monthly payment for any portion of a month at the commencement of the Term, shall be due and payable together with the Security Deposit (as defined herein) upon the execution hereof. Landlord’s receipt of the foregoing payments shall be a condition precedent to the effectiveness of this Lease. All Additional Rent payable for shall commence on the first month(sCommencement Date except as expressly provided otherwise. “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant Landlord under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first be liable for all rental, sales and use taxes (1st) day of each month throughout the balance of the Term of this Leasebut excluding income taxes), as Additional Rentif any, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base imposed upon or measured by Rent. The Base Rent for any fractional part and recurring monthly charges of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Additional Rent shall be paid on the Commencement Date, due and any prorated Rent for the final calendar month hereof shall be paid payable in advance on the first day of the each calendar month without notice or demand. Unless otherwise specified herein to the contrary, all other items of Rent shall be due and payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord otherwise designates and shall be made by good and sufficient check drawn on a local bank or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5%) of all past due Rent, provided that Tenant shall be entitled to a grace period of five (5) days for the first two (2) late payments of Rent in which a calendar year. In addition, past due Rent shall accrue interest at twelve percent (12%) per annum or the date maximum rate permitted by law, whichever is less. Landlord’s acceptance of expiration less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or termination occursstatement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s covenant to pay Rent is independent of every other covenant in this Lease.

Appears in 2 contracts

Sources: Office Lease Agreement, Office Lease Agreement (Loxo Oncology, Inc.)

Rent. On the date that (a) Tenant executes this Leasecovenants to pay to Landlord, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable as rent for the first month(s) Tenant is required to pay Rent), Premises during the Security Deposit, Interim Term and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Primary Term of this Lease, the amounts set forth on Exhibit 5- 1 hereto, and during each Extended Term the amounts determined pursuant to Exhibit 5-2 hereto (herein called the "Basic Rent") in monthly installments in advance on the first day of each calendar month (herein called the "Basic Rent Payment Dates") by wire or other electronic transfer of immediately available funds or by check payable to the Landlord at the address set forth above and/or to such other person or such other place or account as Landlord from time to time may designate to Tenant in writing; provided, Landlord may designate to Tenant in writing that all or a portion of the monthly Basic Rent be paid directly to a Mortgagee or an institutional payment agent, and the remainder be paid as otherwise designated in writing by Landlord. Any payment made by check shall be deemed made on the date received, subject to collection. Subject to the second sentence of Subparagraph 7(a), Tenant shall pay when due all taxes payable on Basic Rent and Additional Rent, whether imposed on Landlord or Tenant's Share , including without limitation, all gross rent taxes and sales taxes on such Basic Rent and Additional Rent, but calculated as if the Basic Rent and the Additional Rent were the sole income of Operating ExpensesLandlord. (b) Tenant covenants that all other amounts, Tax Expensesliabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease together with every fine, Common Area Utility Costspenalty, interest and Utility Expensescost which may be added for nonpayment or late payment thereof, shall constitute additional rent hereunder (herein called "Additional Rent"). The term "Rent" whenever used herein refers to In the aggregate event of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring any failure by Tenant to pay rental payments for or discharge any Additional Rent, Landlord shall have all rights, powers and remedies provided herein or by law in the case of nonpayment of Basic Rent. Tenant also covenants to pay to Landlord on demand an amount (the "Late Charge") equal to five percent (5%) of the payment amount then due on all installments of Basic Rent or Additional Rent which are more than five (5) days overdue, to cover Landlord's administrative expenses. Landlord is obligated to pay any late fees charged by Mortgagee with respect to the Mortgage if the Late Charge is paid by Tenant. The actual amount of Landlord's administrative expenses arising by reason of a period late payment will be difficult to ascertain, and the parties agree that the Late Charge as calculated above is a reasonable estimate thereof. In addition, Tenant further covenants to pay to Landlord on demand interest at the per annum rate of timeinterest equal to five percent (5%) plus the "prime rate" as reported by the Wall Street Journal, or at the maximum rate permitted by applicable law, whichever is less, on all Basic Rent and Additional Rent due to Landlord from the date due until such amount is paid in full. If the Wall Street Journal is no longer published or the Wall Street Journal discontinues publication of the "prime rate," then Landlord shall substitute a comparable prime rate. Notwithstanding the two prior sentences of this Subparagraph 5(b) to the contrary, so long as any debt secured by a first Mortgage against the Premises remains outstanding (including such debt as exists on the date hereof and any such debt incurred in the future), the waiver rate of interest that shall apply under this Lease to all overdue Basic Rent and Additional Rent shall be the requirement lesser of (i) the maximum rate permitted by applicable law, or (ii) the interest rate applicable to pay rental late payments of interest or principal due with respect to such debt (which interest rate under such first Mortgage is referred to herein as the "Default Rate"); said lower rate described in clauses (i) or (ii) being referred to as the "Mortgage Default Rate"; provided, however, such Mortgage Default Rate shall only apply to the waiver overdue Basic Rent while Landlord is obligated to pay interest at the Default Rate on late payments with respect to said Mortgage debt (and at all other times the rate described in the prior two sentences of this Subparagraph 5(b) shall continue to apply to overdue Basic Rent and Additional Rent). At the written request of Tenant Landlord will advise Tenant of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for Mortgage Default Rate in a full calendar month based upon a thirty (30Landlord's certificate delivered to Tenant pursuant to Subparagraph 25(b) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurshereof.

Appears in 2 contracts

Sources: Lease (School Specialty Inc), Lease (School Specialty Inc)

Rent. On a. Tenant shall pay Landlord as rent for the date that Tenant executes Premises Base Rent for each month during the Term. Such amounts shall be due and payable on the Commencement Date and on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in lawful money of the United States of America, at the address indicated by Landlord from time to time. Base Rent shall be increased during the Term as provided for in the Basic Lease Information. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Base Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term Tern. b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Lease Common Areas, exterior areas of the Project and base Building mechanical, plumbing and electrical systems serving the Premises (providedbut not Tenant’s specialized equipment), howeverinsurance for the Project, that Landlord has actually received real estate taxes for the Advance Rent Project, and utilities and janitorial service as provided hereindescribed in Section 12 below. Notwithstanding the foregoing, in the event of Tenant’s disproportionate or after-hours use of utilities (beyond the hours or levels set forth in Section 12). In addition , Tenant’s request for additional services or damage to the Base RentBuilding by Tenant or any Tenant Parties, Tenant shall pay Landlord in advance on the Commencement Date entire cost thereof within twenty (20) days of request by Landlord. All amounts required to be paid by Tenant under this Lease other than Base Rent, including any and thereafter on all other sums that may become due by reason of any default of Tenant or failure to comply with the first (1st) day of each month throughout the balance of the Term terms of this LeaseLease to be performed by Tenant, as Additional shall be deemed additional rent (which, collectively with Base Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursdeemed “Rent”).

Appears in 2 contracts

Sources: Lease (Protagonist Therapeutics, Inc), Lease (Protagonist Therapeutics, Inc)

Rent. On (a) During the date that Tenant executes this LeaseInitial Term, Tenant shall deliver Lessee will pay to Landlord Lessor on the original executed Leasefirst Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the Advance pro- rated portion thereof) (the “Initial Term Rent (which Payments”). The Initial Term Rent Payments for a Quarter shall be applied against adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Initial Term Rent Payments shall be payable through the end of the Initial Term notwithstanding any termination of this Lease (and the obligation to make all such Initial Term Rent Payments will be treated as having been incurred at the inception of the Initial Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the Initial Term, no further Initial Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Initial Term Rent Payment due with respect to the Quarter in which this Lease is terminated. With respect to the first payment to be made hereunder for the first month(sQuarter of the Initial Term, Lessee shall pay to Lessor (i) Tenant is required to pay Rent)on the Effective Date, the Security Depositpro-rated portion of the Initial Term Rent Payment set forth on Schedule 1 for such Quarter for the period of time from and including the Effective Date to the end of such Quarter, and all insurance certificates evidencing (ii) within fifteen (15) Days after the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord Effective Date, the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance pro-rated portion of the Term of all rent payments due under the Exchange Lease beginning for the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on time from the first day of the calendar month current Renewal Term (as such term is defined in the Exchange Lease) under the Exchange Lease to (but not including) the Effective Date. (b) During each Renewal Term, Lessee will pay to Lessor on the first Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the pro-rated portion thereof) (the “Renewal Term Rent Payments”). The Renewal Term Rent Payments for a Quarter shall be adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Renewal Term Rent Payments shall be payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and the obligation to make all such Renewal Term Rent Payments will be treated as having been incurred at the inception of the Renewal Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the applicable Renewal Term, no further Renewal Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Renewal Term Rent Payment due with respect to the Quarter in which this Lease is terminated. If this Lease is extended beyond November 9, 2021 pursuant to Section 3.1(b), the Parties shall negotiate in good faith to agree on the Rent Payments for Renewal Terms during such extension. If the Parties cannot agree in good faith on the Rent Payments for such Renewal Terms by the commencement of such extension, then this Lease shall terminate as of such date. (c) Lessee shall make the Rent Payments in immediately available funds to an account in the United States of America designated from time to time to Lessee in writing by Lessor. The initial nominated account of Lessor is: Colorado Business Bank ABA #: ▇▇▇▇▇▇▇▇▇ Account Name: AEC-NM, LLC Account #: * (d) Any Rent required to be paid under this Section 2.2 that is not so paid (unless subject to a good faith dispute) will bear interest from the date on which Rent was required to be 6 paid to the date such Rent is actually received by Lessor at an effective annual rate equal to the Interest Rate. In the event of expiration a dispute with respect to any Rent pursuant to this Section 2.2, the Parties shall continue to perform their obligations as required hereunder. Upon resolution of such dispute, the Rent, if any, determined to be owing by Lessee to Lessor (by agreement of the Parties or termination occursfinal determination of a court of competent jurisdiction) shall be paid within five Business Days following such resolution, together with interest (using the interest rate described above) from the date Lessee was required to pay the disputed amount.

Appears in 2 contracts

Sources: Equipment Lease (Advanced Emissions Solutions, Inc.), Equipment Lease (Advanced Emissions Solutions, Inc.)

Rent. On the date that 4.1 Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant hereby agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on . For purposes of Rent adjustment under the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share the number of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on months is measured from the first day of the calendar month in which the date Commencement Date falls. Each monthly installment (the “Monthly Rent”) shall be payable by check or by money order on or before the first day of expiration each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all other sums of money as shall become due and payable by Tenant as hereinafter set forth, all of which shall constitute additional rent under this Lease (the “Additional Rent”). Landlord expressly reserves the right to apply any payment received to Base Rent or any other items of Rent that are not paid by Tenant. The Monthly Rent and the Additional Rent are sometimes hereinafter collectively called “Rent” and shall be paid when due in lawful money of the United States without demand, deduction, abatement, or offset to the addresses for the rental payment set forth in the Basic Lease Information, or as Landlord may designate from time to time. 4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the “Late Charge”), as Additional Rent, in an amount of five percent (5%) of the amount of such late payment; provided, however, that Tenant shall be entitled to a grace period of five (5) days for the first late payment in a calendar year. Failure to pay any Late Charge shall be deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord’s remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of Landlord’s right to charge and collect such Late Charges in connection with any other similar or like late payments. 4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of Monthly Rent for the fifth (5th) full calendar month of the initial Term (subject to Tenant’s right to receive Abated Base Rent described in Section 4.7 below) and Tenant’s Share of Operating Expenses and Taxes for the first (1st) full calendar month of the initial Term; and (ii) the Letter of Credit, as described in Article 53 below. Any Security Deposit that may be required under this Lease shall be held by Landlord as security for the performance by Tenant of all of the covenants of this Lease to be performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit, an advance payment of any other kind, or a measure of Landlord’s damages in any case of Tenant’s default. If Tenant fails to perform any of the covenants of this Lease to be performed by Tenant, including without limitation the provisions relating to payment of Rent, the removal of property at the end of the Term, the repair of damage to the Premises caused by Tenant, and the cleaning of the Premises upon termination occursof the tenancy created hereby, then Landlord shall have the right, but no obligation, to apply the Security Deposit, or so much thereof as may be necessary, for the payment of any Rent or any other sum in default and/or to cure any other such failure by Tenant. If Landlord applies the Security Deposit or any part thereof for payment of such amounts or to cure any such other failure by Tenant, then Tenant shall immediately pay to Landlord the sum necessary to restore the Security Deposit to the full amount then required by this Section 4.3 Landlord’s obligations with respect to the Security Deposit are those of a debtor and not a trustee. Landlord shall not be required to maintain the Security Deposit separate and apart from Landlord’s general or other funds and Landlord may commingle the Security Deposit with any of Landlord’s general or other funds. Upon termination of the original Landlord’s or any successor owner’s interest in the Premises or the Building, the original Landlord or such successor owner shall be released from further liability with respect to the Security Deposit upon the original Landlord’s or such successor owner’s complying with California Civil Code Section 1950.

Appears in 2 contracts

Sources: Lease Agreement (PROCEPT BioRobotics Corp), Lease Agreement (PROCEPT BioRobotics Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Base Rent (which shall be applied against the Rent payable for the first month(s) month Tenant is required to pay Base Rent), the Security Deposit, and all insurance certificates or, alternatively, the letter required pursuant to Section 12.5 hereof, evidencing the insurance required to be obtained by Tenant under Section 12 of this Lease and under the provisions of Exhibit B of this Leasehereto. Tenant agrees to pay Landlord the Base RentLandlord, without prior notice or demand, abatementor abatement (except as otherwise set forth in Sections 27 and 41 hereof), offset, deduction or claim, the Base Rent described on Page 1, payable in advance at Landlord's Address address shown on Page 1 on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein)Lease. In addition to the Base RentRent set forth on Page 1, Tenant shall pay Landlord in advance advance, on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises to conduct business operations therein without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base RentRent and Tenant shall otherwise perform all other obligations of Tenant required hereunder. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any The prorated Rent shall be paid on the Commencement Date, Date and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs, as the case may be.

Appears in 2 contracts

Sources: Lease Agreement (Cisco Systems Inc), Lease Agreement (Cisco Systems Inc)

Rent. On the date that Tenant executes this Lease, 3.1 Tenant shall deliver pay to Landlord as rent (the original executed Lease, “Rent”) for the Advance Premises during Term the Rent (which identified on Exhibit L. 3.2 The Rent shall be applied against the Rent payable for in equal monthly installments within five (5) days of the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each and every month throughout during the balance Term, without previous demand therefor and without offset or deduction of any kind whatsoever, except as herein specifically set forth. Notwithstanding the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rentforegoing, Tenant shall pay Landlord in advance on the first month’s installment of Rent within five (5) days of the execution of this Lease and, if the Commencement Date and thereafter occurs on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on other than the first day of a calendar month, Tenant shall pay its pro rata share of Rent for such calendar month. 3.3 All Rent payable hereunder shall be made payable to Landlord and sent to Landlord’s address set forth on the calendar month corresponding Exhibit L, or to such other person or persons or at such other place as may be designated by written notice from Landlord to Tenant, from time to time, and shall be made in local currency in which the date Premises is located (or as otherwise agreed to by Landlord and Tenant in writing) which shall be legal tender for all debts, public and private. At Tenant’s option, Rent may be payable when due by wire transfer or other payment of expiration immediately available funds to an account designated from time to time by Landlord. Landlord shall be deemed to receive such payments when Landlord’s bank actually receives the wire transfer from Tenant’s bank for the account of Landlord. 3.4 Tenant shall remain obligated under this Lease in accordance with its terms and shall not take any action to terminate, rescind or termination occursavoid this Lease except as expressly permitted in this Lease, notwithstanding any action for bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of Landlord or any action with respect to this Lease which may be taken by any trustee, receiver or liquidator or by any court. Except as expressly set forth herein, Tenant hereby waives all right (i) to terminate this Lease, or (ii) to surrender this Lease, or (iii) to any abatement, deferment, reduction, set-off, counterclaim or defense with respect to any Rent payable hereunder. Except as expressly set forth herein, Tenant shall remain obligated under this Lease in accordance with its terms and Tenant hereby waives any and all rights now or hereafter conferred by statute or otherwise to modify or to avoid strict compliance with its obligations under this Lease. Notwithstanding any such statute or otherwise, Tenant shall be bound by all the terms and provisions contained in this Lease.

Appears in 2 contracts

Sources: Master Lease Agreement (Xylem Inc.), Master Lease Agreement (Xylem Inc.)

Rent. On a. As Annual Rent for the date that Premises, the Tenant executes shall pay the City One Dollar and No Cents ($1.00) payable on the 1st day the Term and each Renewal Term (collectively, the “Rent”). Each payment shall be made promptly when due, without deduction, set off or counterclaim whatsoever, and without demand. All payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇. b. The Tenant shall also pay as additional rent all sums, taxes, assessments, costs, expenses and other payments which the Tenant under any of the provisions of this Lease assumes or agrees to pay (the “Additional Rent”), and in the event of any nonpayment thereof, the City shall have all the rights and remedies provided in this Lease and/or by law or at equity. c. The Tenant shall also pay Additional Rent in the amount of Dollars and Cents ($ . ) per month for refuse removal, HVAC maintenance, water, sewer, sanitation and other utilities, all to be provided by the City. If the Tenant’s utility requirements should increase or decrease during the Term or any Renewal Term, the Tenant shall immediately notify the City in writing and the City, in its sole discretion, may make a change to this monthly amount. d. Except as otherwise provided for in this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance any Additional Rent (which shall be applied against due and payable thirty (30) calendar days after receipt of notice of amount due and payable. All payments shall be made payable to the “City of Annapolis” and shall be sent or delivered to the Finance Director, Finance Department, City Hall, ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇. e. In the event the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant or Additional Rent under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rentor any part thereof, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments shall remain unpaid for a period of timefifteen (15) business days after the day on which it is due, then in addition to all other sums due by the Tenant under this Lease, the waiver Tenant shall pay the City as Additional Rent: (1) late fees equal to five percent (5%) of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Dateunpaid amount, and (2) if an action of any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month type is filed in which the date of expiration or termination occursany court, reasonable attorneys fees.

Appears in 1 contract

Sources: Lease Agreement

Rent. On The rent to be paid by Lessee to Lessor for the Premises during the term hereof shall be in the amount, and paid in the manner, as follows: a. From and as of the date that Tenant executes this Lease, Tenant shall deliver to Landlord hereof and until one year from the original executed Lease, date hereof (the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent"Anniversary Date"), the Security Depositsum of ____________ dollars ($__________) per annum. b. The parties hereto shall mutually agree upon a revised rent on or before two months prior to the Anniversary Date of each Lease year (the "Revision Date"). If the parties fail to reach an agreement with regard to the revised rent before the Revision Date of any Lease year, and all insurance certificates evidencing then the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claimLessor may, in advance at Landlord's Address its sole discretion, determine the revised rent by giving written notice thereof to the Lessee on or before ten days prior to the Commencement Anniversary Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning year. In the second (2nd) month event that the Lessee is dissatisfied with such revised rent, the Lessee's sole recourse shall be to notify the Lessor, within ten days after receipt of notice of the Term revised rent, of the Lessee's intention to terminate this Lease as of the sixtieth (provided60th) day from the date the notice is sent. Failure to so notify the Lessor of its termination of this Lease shall be deemed to be an acceptance by the Lessee of the revised rent, however, that Landlord has actually received and the Advance Rent as provided herein). In addition Lessee shall thereupon be obligated to make timely payments of the revised rent to the Base RentLessor. c. The rent shall be payable in monthly installments. Payment of the rent shall be made by the Lessor, Tenant shall pay Landlord in advance its capacity as manager of the Lessee's business pursuant to the Management Agreement, by drawing a check or wire transfer or other bank transfer payable to the Lessor on the Commencement Date and thereafter on Lessee's account maintained by the first (1st) day of each month throughout the balance Management Company pursuant to Section 2b of the Term Management Agreement. d. The Lessor and Lessee agree that upon termination or expiration of this LeaseLease for any reason, the Lessor, as Additional RentManager, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers will continue to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver collect as agent of the requirement Lessee, (pursuant to pay rental payments shall only apply to the waiver Section 2b of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination Management Agreement) all of the Lease Term shall be a prorated amount of the Rent Lessee's then outstanding accounts receivable for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall professional and ancillary services rendered and will continue to be paid on from receipts therefrom any amounts outstanding from the Commencement Date, and any prorated Rent for Lessee pursuant to this Lease and/or the final calendar month hereof Management Agreement until all such amounts then or subsequently due the Lessor shall be paid on the first day of the calendar month have been repaid in which the date of expiration or termination occursfull.

Appears in 1 contract

Sources: Sub Lease Agreement (Complete Wellness Centers Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, covenants and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord during the Base Term the amount of the "Basic Rent, without prior notice or demand, abatement, offset, deduction or claim, " described in the Basic Lease Provisions above. Basic Rent shall be payable in advance at Landlord's Address on in monthly installments (i.e., one twelfth of the Commencement Date applicable annual total per month), and thereafter shall be due on the first (1st1 st ) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedmonth, however, that Landlord has actually received the Advance in advance. Basic Rent as provided herein). In addition shall be prorated with respect to the Base Rent, Tenant shall pay Landlord in advance first and last monthly payments for each applicable period based on the Commencement Date and thereafter on number of calendar days in the first (1st) day of each month throughout the balance of the Term of applicable month. All sums due from Tenant to Landlord under this Lease, as Lease shall be deemed Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, . Basic Rent and Utility Expenses. The term Additional Rent shall be collectively referred to as "Rent." whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid to Landlord without notice or demand and without deduction, abatement or set off of any kind, except as expressly provided in this Lease. No payment by Tenant or receipt by Landlord of an amount less than the Rent and Additional Rent due under this Lease shall be deemed anything other than a payment on account of the earliest of those sums due from Tenant under this Lease. No endorsement or statement on any check or any letter accompanying any check for the payment of Rent or Additional Rent shall be deemed an accord and satisfaction by Landlord, and Landlord may accept any payment from Tenant without prejudice to Landlord's right to recover the balance due, and without prejudice to Landlord to pursue any right or remedy provided to Landlord under this Lease or by law or in equity. 4 5. Construction, Installation & Operation of Solar Facility. (a) Solar Facility Installation. Tenant shall have the right to install the Solar Facility and other improvements expressly set forth herein and approved by Landlord in writing in advance of the installation, all on the Commencement DateLeased Premises and such other areas of the Building and the Property as is expressly provided for in this Lease, all at Tenant's own cost and expense . Installation type shall include solar to the roof and carport as more particularly described on Exhibit C . Tenant shall install Tenant Shall be responsible for all local electric utility approvals, and interconnection and metering arrangements and costs, including, without limitation, any prorated Rent upgrades that may be required in connection with the Building switchgear, and the electric distribution system of the local electric utility . Tenant shall conduct, at its expense, such testing and commissioning of the Solar Facility as may be required by the local electric utility and Legal Requirements, as defined herein, and perform all other work as may be required in order for the final calendar month hereof Solar Facility to achieve commercial operation in a timely manner . (b) Requirements for Installation, Maintenance, etc . All work performed by or on behalf of Tenant pursuant to this Lease, including, without limitation, initial installation and all subsequent maintenance, repairs, replacements, upgrading, modifying, and removing, shall be paid subject to the following : (i) the proper functioning of the systems at the Property, including, without limitation, the mechanical, electrical, plumbing, heating, air conditioning (if any), ventilation, sanitary, sprinkler and other mechanical and other systems of the Building, or any part of the Property, shall not be adversely affected ; (ii) the work shall be of a non structural nature, and the structural integrity of the Property, including, without limitation, the Building, shall not be affected ; (iii) the Solar Facility shall only be installed at those locations shown on the first day Site Plan ; (iv) Tenant shall cause those contractors, materialmen and suppliers engaged to perform the work to deliver to Landlord certificates of insurance (in a form and content reasonably acceptabl e t o Landlord ) evidencing policies of commercial general liability insurance (providing the same coverages as required of Tenant by this Lease) and workers' compensation and employer's liability ( $ 1 , 000 , 000 ) insurance, which insurance policies shall satisfy the insurance obligations imposed on Tenant under this Lease ; (v) the work shall be performed in compliance with all applicable Governmental Approvals required by any Governmental Authority for the performance of the calendar month work, all Legal Requirements, and all plans and specifications (that shall be approved by Landlord in which advance of the date performance of expiration any work, such approval not to be unreasonably withheld, conditioned or termination occursdelayed) ; (vi) the work shall be performed continuously and diligently, without (c) Temporary Construction Lay - Down Area . Landlord and Tenant shall coordinate with one another so that Tenant shall have sufficient space on the Property designated by Landlord from time to time (and to the extent available) for the temporary storage, laydown and staging of tools, materials and equipment, the parking of construction crew vehicles and temporary construction trailer and rigging .

Appears in 1 contract

Sources: Solar Lease (Green Stream Holdings Inc.)

Rent. On 3.1 Tenant agrees to pay to Landlord in advance on or before the date that first day of each month starting with January 1, 199_, the Base Rent, subject to adjustment as hereinafter provided, without deduction or set off, for each month thereafter for the remainder of the entire Lease Term. One such monthly installment together with the Security Deposit shall be due and payable by Tenant executes to Landlord upon execution of this Lease, and a like monthly installment shall be due and payable without demand on or before the first day of each calendar month succeeding the Commencement Date during the Lease Term. Rent for any period of less than a full month shall be prorated, based on one thirtieth (1/30) of the current monthly rent for each day of the partial month this Lease is in effect. 3.2 If any installment of the Base Rent, or any other sums which become owing by Tenant shall deliver to Landlord under the original executed provisions hereof, is not received within ten (10) days after the date of notice from Landlord of such late payment, without in any way implying Landlord's consent to such late payment, Tenant, to the extent permitted by law, agrees to pay, in addition to said installment of the Base Rent or such other sums owed, it being understood that said late payment charge shall constitute liquidated damages and shall be for the purpose of reimbursing Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late installment payments of the Base Rent and such other sums which become owing by Tenant to Landlord hereunder: provided, however, if more than one (1) payment due of Tenant hereunder in any one (1) calendar year is not made until after notice of such late payment is received by Tenant, then the late charge in this Paragraph shall be due by Tenant if any subsequent payments due of Tenant hereunder in the same calendar year are not made within five (5) days within the date when due (without the requirement for prior notice). Landlord and Tenant expressly covenant and agree that in the event of any such late payment by Tenant, the damages so resulting to Landlord will be difficult to ascertain precisely, and that the foregoing charge constitutes a reasonable and good faith estimate by the parties of the extent of such damages and does not constitute interest. Notwithstanding the foregoing, the foregoing late charges shall not apply to any sums which may have been advanced by Landlord to or for the benefit of Tenant pursuant to the provisions of this Lease. Notwithstanding the above, the late charge shall not be due unless the amount due is not paid by Tenant within ten (10) days of the date notice from Landlord of such late payment is received by Tenant; provided, however, if more than one (1) payment due of Tenant hereunder in any one (1) calendar year is not made until after notice of such late payment is received by Tenant, then the late charge in this paragraph shall be due by Tenant if any subsequent payments due of Tenant hereunder in the same calendar year are not made within five (5) days of the date when due. 3.3 The Security Deposit shall be held by Landlord without liability and as security for the performance by Tenant of Tenant's covenants and obligations under this Lease, it being expressly understood that such deposit shall not be considered an advance payment of rent or a measure of Landlord's damages in case of default by Tenant. Upon the Advance Rent occurrence of any event of default by Tenant, Landlord may (which but shall not be applied against the Rent payable for the first month(s) Tenant is required to pay Rentobligated to), from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any arrearage of Rent and any other damage, injury expense or liability caused to Landlord by such event of default. Following any such application of the Security Deposit, and all insurance certificates evidencing Tenant shall pay to Landlord on demand the insurance required amount so applied in order to restore the Security Deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of the Security Deposit shall be obtained returned by Landlord to Tenant under Section 12 and Exhibit B upon termination of this Lease. Tenant agrees If Landlord transfers its interest in the Premises during the Lease Term, Landlord may assign the Security Deposit to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date transferee and thereafter on shall have no further liability for the first (1st) day of each month throughout the balance return of the Term Security Deposit. 3.4 All sums other than Base Rent payable by Tenant to Landlord under any provision of this Lease shall constitute Additional Rent. Base Rent and Additional Rent are herein referred to collectively as "Rent". All Rent due hereunder shall bear interest from the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition due date until paid in full at a rate equal to the Base Rentlesser of: (a) the prime interest rate in effect from day to day at the First National Bank of Atlanta, Tenant shall pay Landlord in advance on Georgia plus three (3) percentage points; or (b) the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amountsmaximum legal rate allowed by law. If more than the maximum legal rate of interest should ever be collected with regard to any sum due hereunder, said excess amount shall be credited against future payments of Rent thereafter first accruing hereunder. If no such further Rent accrues hereunder, said excess sums shall be promptly refunded by Landlord permits to Tenant to occupy the Premises without requiring upon written demand by Tenant. 3.5 No payment by Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part or receipt by Landlord of a calendar month at lesser amount than the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated correct Rent shall be paid 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 an accord and satisfaction. Landlord may accept such check of payment without prejudice to Landlord's right to recover the Commencement Date, and balance or to pursue any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month other remedy in which the date of expiration this Lease or termination occursotherwise provided by law or equity.

Appears in 1 contract

Sources: Sublease Agreement (View Tech Inc)

Rent. On (a) Tenant will pay the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against annual base rent as shown in Exhibit "D" in equal monthly installments in advance beginning on the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout during the balance term, prorated for any portion of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesa month. The term "Rentrent" whenever used herein refers includes base rent, additional rent and all other amounts to be paid by Tenant under this Lease, whether or not specifically described as rent. Subject to Subsection (b) below, and except as otherwise set forth in this Lease with respect to rent abatements, all rent due under this Lease will be paid without demand, deduction, counterclaim or offset of any type in lawful U.S. legal tender at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇, Attn: Accounting Dept., or to such other person or place as Landlord may from time to time designate by written notice pursuant to this Lease. Tenant will pay the first month's base rent when it executes this Lease. (b) If and for so long as there is a mortgage loan encumbering the Project, at the written request of Landlord, Landlord and Tenant will establish a collection account for the receipt and disbursement of base rent. In such event, Tenant will pay the base rent as and when required each month into this collection account, and the collection agent promptly will disburse from such amount an amount sufficient to pay debt service and any other amounts owed to the aggregate of all these amounts. If Landlord permits Tenant to occupy mortgage lender and/or the Premises without requiring Tenant to pay rental payments for a period of time, the waiver lender of the requirement loan secured by the letter of credit, with the balance being disbursed to pay rental payments shall only apply Landlord. The collection agent and the terms of this collection account will be subject to the waiver mutual written approval of the Base RentLandlord and Tenant, which approval will be based on customary terms for such agreement and will not be unreasonably withheld or delayed. The Rent for any fractional part parties agree to the Bank of a calendar month at America or the commencement or expiration or termination Bank of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid Boston as part of the Advance Rent any prorated Rent shall be paid on the Commencement Datecollection agent, and any prorated Rent for to a collection agreement in form substantially similar to the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration one attached as Exhibit "B-1.", all at no cost or termination occursexpense to Tenant.

Appears in 1 contract

Sources: Lease (Navisite Inc)

Rent. On the date that Tenant executes this Lease, Tenant Concessionaire shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rentpay, without offset, deduction, prior notice notice, or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on as "Minimum Annual Rent” the Commencement Date sum of GuaranteedRent plus the following percentage(s) of gross receipts: Minimum Percent Bid of Annual Gross Receipts Beginning with Contract Year Six (6) and thereafter on the first day of each fifth Contract Year thereafter, the Minimum Annual Rent shall be adjusted to reflect changes in the Consumer Price Index (1stCPI). Such CPI adjustments shall be made in accordance with the procedure set forth in Exhibit G, attached to and made a part of this Contract. Concessionaire shall make payment of Minimum Annual Rent and other payments to State in lawful money of the United States. However, if any payment made by a check, draft, or money order is returned to State due to insufficient funds or otherwise, State shall have the right, at any time after the return, upon written notice to Concessionaire, to require Concessionaire to make all subsequent payments in cash or by cashier's or certified check. Beginning with the fifteenth (15th) day of the month following the execution of the Contract, and on or before the fifteenth (15th) day of each month throughout the balance thereafter, Concessionaire shall furnish to State a verified statement of the Term concession’s gross receipts for the preceding month. Such statement shall be submitted on Form DPR 54, Concessionaire's Monthly Report of Operation, attached hereto as Exhibit B, or in a format previously approved by the State, and shall specify the current period and cumulative total of gross receipts for the concession through the end of the Lease beginning preceding month for the second (2nd) then current Contract Year. Concessionaire shall also provide such statement for periods of non-operation. Concurrent with such monthly statement, the Concessionaire shall pay to State the appropriate rental fee based on the gross receipts for the preceding calendar month as prescribed above. Payments to State shall be made to the order of the Term Department of Parks and Recreation and delivered to the District Office identified in Section 54, Contract Notice, or at such other location as may from time to time be designated by State. If, at the end of the Lease Contract Year, the total of monthly percentage rental payments made (providedor due) during that Contract Year is less than the Minimum Annual Rent required for that Contract Year, however, that Landlord has actually the difference shall be remitted to State with the last monthly sales statement for the Contract Year. Payments must be received by State on or before the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first fifteenth (1st15th) day of each the month throughout as described above. Any late payment shall constitute a breach of contract, giving rise to State's remedies as set forth below. Further, any late payment will be subject to a late penalty consisting of an administrative charge on the balance late amount, calculated at the rate of five percent (5%) of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the late payment or portion thereof. The parties agree that the late charge represents a fair and reasonable estimate of the costs State will incur because of late payment. Acceptance of the late charge by State shall not constitute a waiver of Concessionaire's default for the overdue amount, nor prevent State from exercising the other rights and remedies granted under this Contract. Concessionaire shall pay the late charge as additional rent with the next monthly rent payment. Any amount due to State, if not paid within five (5) days following the due date, will bear interest from the due date until paid at the rate of ten percent (10%) per year. However, interest shall not be payable on late charges incurred by Concessionaire. Payment of interest shall not excuse or cure any default by Concessionaire. Upon written request by the Concessionaire to State demonstrating unusual or extenuating circumstances causing the late payment, the State, in its sole discretion, may waive the late charge. Further, in the event Concessionaire is prevented from carrying on the operations contemplated herein by reason of an Act of Nature or other reasons beyond Concessionaire's control, and when requested in writing in advance by Concessionaire, Minimum Rent may be abated in proportion to the amount by which gross receipts are reduced by the occurrence for a full calendar month such period of reduced or non- operation, as determined in the sole discretion of State. If this Contract is terminated by State because of Concessionaire's default, and if Concessionaire becomes liable for any deficiency in rent and/or fees by way of damages or otherwise, or if at any time during the Contract term Concessionaire ceases to conduct in the Premises the business referred to herein below, then from and after the time of the breach causing this termination, or from and after the time of the cessation of business, all unpaid rent and/or fees prior to the breach causing termination or cessation of business shall become due and payable. The amount due shall be deemed to be the greater of: (a) the Minimum Rent provided herein, or (b) an amount based upon a thirty (30) day month. To the extent not already paid as part average of the Advance Rent any prorated Rent payments that have accrued to State as percentage rent during the twenty-four (24) months preceding the termination or cessation of business, unless the termination or cessation occurs within three (3) years of the beginning of the Contract term, in which event the previous twelve (12) (or fewer, if applicable) months shall be paid on used as the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day basis of the calendar month in which the date of expiration or termination occursthis average.

Appears in 1 contract

Sources: Concession Contract

Rent. On (a) From and after the date that Tenant executes this LeaseSublease Commencement Date, Tenant Subtenant shall deliver pay to Landlord Sublandlord the original executed Lease, the Advance base rent specified in subsection (b) below (“Base Rent”). Base Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained other items of additional rent, charges and expenses payable by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first Subtenant hereunder (1st) day of each month throughout the balance all of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedforegoing except for Base Rent deemed, howevercollectively, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid to Sublandlord on the first day of each calendar month, without deduction, abatement, counterclaim or setoff of any amount for any reason whatsoever. Rent shall be paid to Sublandlord in lawful money of the United States at its address set forth above (Attention: Lease Administration), or to such other person, or at such other address, as Sublandlord may from time to time designate by notice to Subtenant. Any payment by Subtenant or receipt by Sublandlord of an amount less than the amount stipulated hereunder for any portion of Rent shall be deemed a payment on account of such amount(s) payable. An endorsement or statement by Subtenant on any check or letter shall not be deemed to create an accord and satisfaction, and Sublandlord may accept any such check or payment without prejudice to Sublandlord’s right to recover the balance due or to pursue any other remedy available to it. Any provision in the Prime Lease referring to “Rent” or “rent” (or words of similar meaning) incorporated herein by reference shall be deemed to refer to all items of Base Rent and Additional Rent due under this Sublease. Base Rent and Additional Rent shall be referred to as “Rent”. (b) Base Rent shall consist of the following amounts, and shall be paid by Subtenant to Sublandlord as herein provided: Sublease Period Total Term Monthly Sublease Commencement Date through Sublease Expiration Date $ 494,991.00 $ 49,499.10 (c) Notwithstanding subsection (b) above, Tenant’s obligation to pay Rent shall commence on the Sublease Commencement Date, subject to any abatement of Rent pursuant to Paragraph 1.(b) above. The Rent payable for the calendar month in which the date Sublease Commencement Date occurs shall be pro rated to reflect the number of expiration days of Subtenant’s occupancy during such calendar month and shall be payable on the Sublease Commencement Date. (d) Rent payable hereunder shall be prorated on a daily basis in the case of any period of less than a full calendar year or, in the case of any monthly installment, any period less than a full calendar month. Subtenant shall pay all commercial rent or termination occursoccupancy taxes imposed in connection with this Sublease, the Subleased Premises or the payment of Rent hereunder, if applicable.

Appears in 1 contract

Sources: Sublease (Linkedin Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. 5.1 Tenant agrees to pay Landlord as Basic Annual Rent for the Base Premises the sum set forth in Section 2.1.2, subject to the rental adjustments provided in Article 6. Basic Annual Rent shall be paid in the equal monthly installments set forth in Section 2.1.3, subject to the rental adjustments provided in Article 6 hereof, each in advance on the first day of each and every calendar month during the term of this Lease. 5.2 In addition to Basic Annual Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”), at the times hereinafter specified in this Lease, Operating Expenses as provided in Article 7, Taxes and Assessments, reimbursement and expenses of Landlord’s performance of any obligations of Tenant under this Lease, and all other amounts that Tenant assumes or agrees to pay under the provisions of this Lease, including without prior notice limitation 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. 5.3 Basic Annual Rent and Additional Rent shall together be denominated “Rent.” Except as expressly set forth in this Lease, Rent shall be paid to Landlord, without notice, demand, abatement, offsetsuspension, deduction deduction, setoff, counterclaim, or claimdefense except as set forth in this Lease or pursuant to law (unless otherwise set forth in this Lease), at the office of Landlord as set forth in advance Section 2.1.7 or to such other person or at Landlord's Address such other place as Landlord may from time to time designate in writing. 5.4 In the event the term of this Lease commences or ends on the Commencement Date and thereafter on a day other than the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of month, then the Rent for such fraction of a full calendar month based upon shall be prorated for such period on the basis of a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent month and shall be paid on at the Commencement Date, and any prorated then current rate for such fractional month prior to the commencement of the partial month. 5.5 This is an absolutely triple net lease to Landlord. It is the intent of the parties that the Basic Annual Rent for the final calendar month hereof payable under this Lease shall be paid on a net return to Landlord and that Tenant shall pay all costs and expenses relating to the first day of the calendar month Premises unless otherwise expressly provided in which the date of expiration or termination occursthis Lease.

Appears in 1 contract

Sources: Purchase Agreement (Ligand Pharmaceuticals Inc)

Rent. On the date that Tenant executes this Lease, A. Tenant shall deliver pay to Landlord an annual rent ("Rent") in the original executed Lease, the Advance amount of $**.** per year. Rent (which shall be applied against due on the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B Effective Date of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date Agreement and for every year thereafter on the first anniversary of the Effective Date. B. Rent is composed of a base amount of $ per year, less the value of the In- kind Services of $ per year, as described in Paragraph 3 herein. The value of the In-kind Services is based on the actual costs of the services as determined by Landlord upon consultation with external sources, which may include Penn State University, and the Farm Service Agency (1stFSA) and Natural Resource Conservation Service (NRCS) of the United States Department of Agriculture. i. The value of the In-kind Services shall be a fixed amount. Landlord shall monitor the cost of the services annually by consulting with external sources, which may include Penn State University, the FSA, and NRCS. If the projected cost of specific In-kind Services increases in any given year, Landlord shall accordingly reduce the size of the In-kind Parcel or change the designated In-kind Services, as described in Paragraph 3 herein, so that the value of Tenant’s In-kind Services obligation never exceeds the value set forth in Paragraph 2B herein. C. All Rent shall be paid by check made payable to "Treasurer, State of New Jersey" and delivered to: Department of Environmental Protection Division of Fish & Wildlife ▇.▇. ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ If any check for payment is returned to Landlord, all future payments shall be made by certified check or money order. D. Any payment of Rent not made on or before the dates provided in Subparagraph A of this Paragraph shall be considered past due. All past due amounts shall be assessed a monthly penalty of one and one-half percent (1.5 %) of the total amount due calculated on the tenth (10th) day of each month throughout after the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date due date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a every thirty (30) day month. To days thereafter. E. The cost of Tenant's compliance with this Agreement shall be “Additional Rent.” If Landlord incurs any expense, including reasonable attorney's fees, due to the extent not already paid breach of this Agreement by Tenant or Tenant's failure to perform any obligation of Tenant hereunder, Tenant shall be liable for payment of such expense as Additional Rent added to and as part of the Advance next payment of Rent any prorated due to be paid by Tenant. Nonpayment of Additional Rent gives Landlord the same rights against Tenant as if Tenant fails to pay the Rent. F. If this Agreement is renewed pursuant to Paragraph 1 herein or is extended pursuant to Paragraph 7F herein, the Rent shall be paid on increased at the Commencement Date, and any prorated Rent beginning of the sixth Lease Year (2015) by the same percentage that the Farm Service Agency (FSA) of the United States Department of Agriculture has increased the soil rental rates for the final calendar month hereof soil classifications applicable to the Premises. If the soil rental rates have decreased or remained stable, the Rent shall be paid on remain the first day of the calendar month in which the date of expiration or termination occurssame.

Appears in 1 contract

Sources: Farm Lease and Service Agreement

Rent. On 3.1 Tenant shall pay to Landlord the date that Tenant executes following amounts as rent for the Premises: (a) During the term of this Lease, Tenant shall deliver pay to Landlord Landlord, as base monthly rent, the original executed amounts of monthly rent specified in the Basic Lease Information (the “Triple Net Base Rental Rates”). (b) During the term of this Lease, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share (as hereinafter defined) of all Operating Expenses (as hereinafter defined) paid or incurred by Landlord in such calendar year or part thereof. (c) During the Advance Rent term of this Lease, Tenant shall pay to Landlord, as additional monthly rent, Tenant’s Percentage Share of all Property Taxes (which as hereinafter defined) paid or incurred by Landlord in such calendar year or part thereof. (d) Throughout the term of this Lease, Tenant shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent)pay, the Security Depositas additional rent, all other amounts of money and all insurance certificates evidencing the insurance charges required to be obtained paid by Tenant under Section 12 this Lease, whether or not such amounts of money and Exhibit B charges are designated “additional rent.” As used in this Lease, “rent” shall mean and include all Base Rent, additional monthly rent and additional rent payable by Tenant in accordance with this Lease. 3.2 The additional monthly rent payable pursuant to sections 3.1(b) and 3.1(c) hereof shall be calculated and paid in accordance with the following procedures: (a) On or before the first day of each calendar year during the term of this Lease, or as soon thereafter as practicable, Landlord shall give Tenant written notice of Landlord’s estimate of the amounts payable under sections 3.1(b) and 3.1(c) hereof for the ensuing calendar year. Tenant agrees to pay Landlord the Base Rent, without prior notice On or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on before the first (1st) day of each month throughout during such ensuing calendar year, Tenant shall pay to Landlord one-twelfth of such estimated amounts. If such notice is not given for any calendar year, Tenant shall continue to pay on the balance basis of the Term prior year’s estimate until the month after such notice is given and subsequent payments by Tenant shall be based on Landlord’s estimate contained in such notice. If at any time it appears to Landlord that the amounts payable under sections 3.1(b) and 3.1(c) hereof for the current calendar year will vary from Landlord’s estimate, Landlord may, by giving written notice to Tenant, revise its estimate for such year, and subsequent payments by Tenant for such year shall be based on such revised estimate. (b) Within a reasonable time after the end of each calendar year, Landlord shall give Tenant a written statement of the amounts payable under sections 3.1(b) and 3.1(c) hereof for such calendar year certified by Landlord. If such statement shows an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall, within thirty (30) days after the delivery of such statement, refund Tenant the amount of such excess. If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such statement. During the term of this Lease beginning Tenant or its authorized employee or representative shall have the second (2nd) month right to inspect the books of Landlord relating to Operating Expenses and Property Taxes, after giving reasonable prior written notice to Landlord and during the Term business hours of Landlord at Landlord’s office in the Lease (Building or at such other location as Landlord may reasonably designate, for the purpose of verifying the information in such statement; provided, however, that if Tenant utilizes an independent accountant to perform such review it shall be one of national standing which is reasonably acceptable to Landlord has actually received and is not compensated on a contingency basis. Failure by Landlord to give any notice or statement to Tenant under this section 3.2 shall not waive Landlord’s right to receive, and Tenant’s obligation to pay, the Advance Rent as provided hereinamounts payable by Tenant under sections 3.1(b) and 3.1(c) hereof. (c) If the term of this Lease ends on a day other than the last day of a calendar year, the amounts payable by Tenant under sections 3.1(b) and 3.1(c) hereof applicable to the calendar year in which the end of the term occurs shall be prorated on the basis which the number of days from the commencement of such calendar year to and including the date on which the end of the term occurs bears to three hundred sixty-five (365). In addition Termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to section 3.2(b) hereof to be performed after such termination. (d) Notwithstanding the Base Rentforegoing provisions of this Section 3.2, in no event shall the amount payable by Tenant for Operating Expenses and Property Taxes in any year during the term of this Lease exceed by more than four percent (4%) the amount payable by Tenant for Operating Expenses and Property Taxes in the immediately preceding year. Notwithstanding the foregoing, this provision 3.2(d) shall expire January 9, 2008. 3.3 Tenant shall pay Landlord all monthly rent to Landlord, in advance advance, on the Commencement Date and thereafter on or before the first (1st) day of each and every calendar month throughout during the balance of the Term term of this Lease, as Additional Rentwithout notice, Tenant's Share demand, deduction or offset, in lawful money of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesthe United States of America. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring instructs Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply all such monthly rent to the waiver of address specified in the Base Rent. The Rent for any fractional part of a calendar month Basic Lease Information, or to such other person or at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid such other place as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month Landlord may from time to time designate in which the date of expiration or termination occurswriting.

Appears in 1 contract

Sources: Office Lease (PeopleSupport, Inc.)

Rent. On 6.1 From and after the Lease Effective Date, Tenant shall pay base rent during each Lease Year to Landlord as follows: For each Lease Year or portion thereof occurring during the Lease Term, Tenant covenants and agrees to pay to Landlord as and for rent for the Premises, without offset or deduction, and without previous demand therefor except as otherwise expressly set forth herein, a rental in an annual amount equal to the Annual Rental Rate (such annual amount, hereinafter referred to as "Annual Rent"). All Annual Rent shall be payable by Tenant by immediately available electronic fund transfer (EFT) via the Automated Clearing House (ACH) Network using such instructions as the Landlord shall provide by written notice to Tenant no less than thirty (30) calendar days prior to the date that Tenant executes this Leasesuch payment is due (provided, Tenant shall deliver to Landlord the original executed Leasehowever, the Advance Rent (which shall be applied against the Rent payable that, for the first month(sinitial payment of Annual Rent due hereunder, Landlord shall provide payment instructions by written notice to Tenant within ten (10) Tenant calendar days of the Lease Effective Date or such other date as is required to pay Rentmutually agreed by the Parties), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address commencing on the Commencement Lease Effective Date and thereafter on the first (1st) day of each and every calendar month throughout thereafter during the balance Lease Term, in an amount equal to one-twelfth (1/12) of the Term of Annual Rent; provided that if (i) the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant Effective Date shall pay Landlord in advance on the Commencement Date and thereafter on be other than the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of timecalendar month, the waiver first (1st) monthly installment of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Annual Rent shall be paid on the Commencement Date, monthly installment prorated by the fraction reached by dividing the number of days remaining from and any prorated Rent for including the final calendar month hereof shall be paid on Lease Effective Date to the first last day of the calendar month in which the Lease Effective Date occurs by the actual number of days in such month, and (ii) the last date of expiration the Lease Term shall be other than the last day of a calendar month, the last monthly installment of Annual Rent shall be prorated by the fraction reached by dividing the number of days elapsed from and including the first (1st) day of such calendar month to the last day of the Lease Term by the actual number of days in such month, and shall be payable at the office of Landlord first above set forth or termination occurs.at such other place or in such other manner in which Landlord shall have given Tenant written notice at least thirty

Appears in 1 contract

Sources: Lease Agreement

Rent. On the date that Tenant executes this LeaseThe “minimum” or “base” rent, Tenant shall deliver to Landlord the original executed Leaseadditional rent, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Depositoperating costs, and all insurance certificates evidencing other income from the insurance required to be obtained Property (other than percentage rents) collected by Tenant Seller from tenants under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments Leases for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the Closing occurs shall be prorated on the basis of the number of days of such month the Property will have been owned by Purchaser and Seller, respectively. However, there shall be no proration of any such rent or other charges which are delinquent as of the Closing Date. Rather, Purchaser shall cause any such delinquent rent and charges for the period prior to Closing to be remitted to Seller if, as and when collected, provided that, upon Purchaser’s receipt of such delinquent rent and charges, such tenant is, or after application of a portion of such payment will be, current under such Lease in the payment of all accrued rental and other charges that become due and payable on the date of expiration Closing or termination occursthereafter. At Closing, Seller shall deliver to Purchaser a schedule of all such delinquent rent and such other charges. Purchaser shall include the amount of delinquent rent and charges in the first bills thereafter submitted to the tenants in question after the Closing, and shall continue to do so for three (3) months thereafter. Purchaser shall promptly deliver to Seller a copy of each such ▇▇▇▇ submitted to tenants. After such three (3) month period, Seller may pursue remedies directly against delinquent tenants (but may not ▇▇▇ to evict or otherwise dispossess tenants), provided that Seller shall not initiate or pursue any remedies against (i) any delinquent tenant or (ii) any tenants and other parties under certain easement or other agreements who are delinquent in paying Reimbursements (hereinafter defined) (“Reimbursement Parties”) unless (A) the aggregate amount of delinquencies owed to Seller from all tenants of the Property (the “Tenant Delinquencies”) and the amount of delinquent Reimbursements owed to Seller from all Reimbursement Parties (the “Reimbursement Delinquencies”) collectively are in excess of $50,000.00 (the “Minimum Collection Amount”), and (B) Seller indemnifies Purchaser for any claims or liabilities arising or accruing for periods prior to Closing under the Lease with any such tenant.

Appears in 1 contract

Sources: Real Estate Sale Agreement (Wells Real Estate Investment Trust Inc)

Rent. On a) To assist Tenant in the date that Tenant executes this Lease, Tenant shall deliver to Landlord transition of providing Head Start services on the original executed LeasePremises, the Advance Rent (which parties agree that Landlord shall be applied against the Rent payable charge Tenant no rent for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B year of this Lease/Purchase Agreement. Beginning in the second year of the Lease/Purchase Agreement, Tenant agrees to pay the Landlord’s annual debt service on the Washtenaw County Bond approved September 18, 2002 which proceeds were used to build the Leased Premises. Tenant agrees to pay make such annual payments in a lump sum on or before October 1st of the current lease year beginning on October 1, 2014. A schedule of the annual bond debt lease payments is attached at Exhibit A. As set forth more fully in Paragraph 25 below, upon making all of the annual rental payments, Landlord shall deed the Base RentLeased Premises to Tenant. Should Tenant desire to purchase the Leased Premises prior to making all of the annual payments, without prior notice it shall have the Option to Purchase the Leased Premises by following the process outlined in Paragraph 25. b) All rental payments hereunder shall be paid to Landlord at the address given in Paragraph 19 (Notices) or demand, abatement, offset, deduction to such other persons or claimat such other places as Landlord may from time to time designate by notice. Payments are considered made when received by Landlord. c) Should the rent or any other charges or payments required to be made by Tenant hereunder remain unpaid for one (1) month beyond the due date, in advance whole or in part, Landlord shall, at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedits option, however, that Landlord has actually received the Advance Rent as provided herein). In in addition to the Base Rentrents reserved herein, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first charge a late fee of five percent (1st5%) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amountswhole amount due. If Landlord permits Tenant such payment is more than six (6) months late then, upon notice by Landlord, this tenancy may be terminated upon written notice to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursTenant.

Appears in 1 contract

Sources: Lease/Purchase Agreement

Rent. On A. Tenant covenants and agrees to pay to Landlord during the date that Tenant executes term of this Lease, Tenant shall deliver to Landlord at the original executed Leaseplace specified by Landlord, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claimsetoff (unless authorized by this Lease), due and payable in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month. Tenant also covenants and agrees to pay to Landlord Tenant's Pro Rata Share of Building Operating Costs as described in Paragraph 3B below. Base Rent and Tenant's Pro Rata Share of Building Operating Costs, together with other amounts which may be payable by Tenant to Landlord under this Lease, shall sometimes be referred to collectively as " RENT." Rent for any fractional calendar month throughout the balance shall be that proportion of the Term monthly installment which the number of days during such month bears to the total of days in the month. Rent not paid by the fifth day following written notice that such amount is past due shall be subject to a late charge of three (3%) of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). amount due. B. In addition to the Base Rent, Tenant shall pay Tenant's Pro Rata Share of "BUILDING OPERATING COSTS." Building Operating Costs shall mean all expenses, costs and disbursements which Landlord shall pay or become obligated to pay because of or in advance connection with the maintenance, repair and operation of the Building, including, but not limited to, real estate taxes and assessments, use, sales, or any other taxes (except income taxes) based on rents, personal property taxes on personal property used in the Commencement Date operation of this Building; Landlord's insurance, as described in Paragraph 6 below; utilities not separately metered to individual tenants; costs of leasing or amortization of energy reduction devices and thereafter on systems, except those included in the building specifications and except those required during the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination two years of the Lease Term Term; maintenance; repairs; redecorating of common areas; cost of roof renovation (which shall be a prorated amount amortized over its expected life and which shall not include roof replacement which occurs after the term or the first extension thereof); janitorial service; operating supplies; property management; Building Services; snow removal; landscaping; costs of leasing or amortizing plants, shrubs, trees, or flowers, and normal maintenance thereof; costs of leasing or amortizing wall hangings, fixtures, paintings, and statues; rubbish removal; tools and equipment used for the daily operation of the Rent Building; air conditioning, heating and elevator repair and maintenance; resurfacing and restriping of parking areas; repair and replacement of car stops and signage; security; wages, payroll taxes, welfare and disability benefits reasonably incurred in the operation of the Building. Notwithstanding the foregoing, Building Operating Costs shall expressly exclude: (a) cost of decorating, redecorating, or special cleaning, or other services not provided on a regular basis to all tenants of the Building; (b) wages, salaries, fees and fringe benefits paid to administrative or executive personnel or officers or partners of Landlord, unless employed at competitive rates as independent contractors; (c) any charges for depreciation of the Building or equipment; (d) any interest or finance charges; (e) any charges for Landlord's income taxes, excess profit taxes, franchise taxes or similar taxes on Landlord's business; (f) all costs relating to activities conducted for the solicitation of and execution of leases of space in the Building; (g) any costs for which Tenant or other tenants in the Building are being charged other than pursuant to this Paragraph; (h) the costs of correcting defects in the construction of the Building or in the Building Equipment, except that conditions (not occasioned by construction defects) resulting from ordinary wear and tear shall not be deemed defects for the purpose of this category; (i) the costs of any repair made by Landlord because of the total or partial destruction of the Building or the condemnation of a full calendar month based upon a thirty portion thereof; (30j) day month. To any insurance premium to the extent not already paid as part that Landlord is entitled to reimbursement therefore from Tenant or from any other tenant of the Advance Rent Building; (k) any prorated Rent shall costs for which Landlord is reimbursed by insurance, warranty, or other source of reimbursement; (1) the cost of any additions or capital improvements to the Building subsequent to original construction; (m) the cost of any repairs, alterations, additions, changes, replacements and other items which, under Generally Accepted Accounting Principles, are properly classified as capital expenditures to the extent that they upgrade or improve the Building, as opposed to replacement of existing items which have worn out; (n) any cost included in Building Operating Costs representing an. amount paid to a related corporation, entity or person which is in excess of the amount which would be paid on in the Commencement Date, and absence of such relationship; (o) the cost of any prorated Rent work or service performed for the final calendar month hereof shall be paid on the first day or facilities furnished to any tenant of the calendar month Building to a greater extent or in which a manner more favorable to such tenant than that performed for or furnished to Tenant; and (p) the date cost of expiration overtime or termination occursother expense to Landlord in curing its defaults or performing work expressly provided herein to be borne at Landlord's expense.

Appears in 1 contract

Sources: Lease (Kragen Auto Supply Co)

Rent. On 3.1. The rent ("Rent") payable during the date that Tenant executes Term under this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which Sublease ---- shall be applied against as set forth on Schedule C hereto. ---------- 3.2. Upon the execution of this Sublease, Sublessee shall pay to Sublessor the sum of $ * as Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, month of October. Thereafter all ------- ------- payments of Rent shall be in equal monthly installments and all insurance certificates evidencing the insurance required to shall be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claimmade, in advance at Landlord's Address on the Commencement Date and thereafter on the first twenty fifth (1st25th) day of each month throughout the balance of during the Term of (except for the Lease beginning the second (2nd) first and last month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided hereinTerm). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term and all other payments, if any, due and payable hereunder by Sublessee shall be a prorated amount made by check payable to the order of the Rent for a full calendar month based upon a "Ryder System, Inc." and addressed to Ryder Truck Rental, Inc., ▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ , Attention: Ryder System Inc., Comptroller or to such other person or at such other place as Sublessor may from time to time designate in writing within thirty (30) day monthdays after receipt by Sublessee of request therefor. 3.3. To In the extent not already paid as part event that Sublessee shall dispute any calculation of Rent charged to Sublessee by Sublessor, then Sublessee shall send to Sublessor a written notice, within 30 days of receipt by Sublessee of such charge, setting forth the basis for Sublessee's dispute. Sublessor and Sublessee shall thereupon use reasonable and good faith efforts to resolve such dispute. If the parties are unable to resolve such dispute within 30 days after submission by Sublessee of its dispute notice, then the parties shall designate an independent certified public accountant mutually acceptable to both parties (the "Independent Accountant") to resolve such dispute, and the fees and charges of ---------------------- the Independent Accountant shall be shared equally by the parties. Both parties shall provide the Independent Accountant with all information reasonably requested by the Independent Accountant in connection with its review of such dispute, and both parties shall request that the Independent Accountant complete its work expeditiously and issue a written report to both parties setting forth its determination. The written determination of the Advance Rent any prorated Rent Independent Accountant shall be paid final and shall be binding upon both Sublessor and Sublessee. All disputes to be resolved pursuant to this Section 3.3 shall be so resolved in accordance with the principles and standards set forth in Section 3.5 below. 3.4. Sublessor shall furnish to Sublessee copies of any material statements and other material documents and information which are provided to Sublessor by Landlord pursuant to the Master Lease. Without limiting any other obligations of Sublessor hereunder, Sublessor agrees it will, upon reasonable request from Sublessee, exercise on the Commencement DateSublessee's behalf, and at Sublessee's sole cost, any prorated rights of Sublessor under the Master Lease to review and inspect records and otherwise obtain information from Landlord. * CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO AN APPLICATION FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 3.5. All calculations by Sublessor of Rent for the final calendar month hereof and any other amounts that are payable by Sublessee hereunder shall be paid on made in accordance with Landlord's past practices with respect to Sublessor, and all charges and allocations relating to the first day Demised Premises and all accounting practices utilized by Sublessor with respect to amounts charged to Sublessee under this Sublease (including the capitalization, amortization and expensing of the calendar month costs incurred and funds expended) shall also be made in which the date of expiration or termination occurssuch manner.

Appears in 1 contract

Sources: Sublease (Ryder TRS Inc)

Rent. On the date that 4.1 Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant hereby agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day . For purposes of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of timeadjustment hereunder, the waiver number of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on months is measured from the first day of the calendar month in which the Initial Commencement Date falls. Each monthly installment (the "Monthly Rent") shall be payable by check or by money order or by Federal Reserve Automated Clearing House (ACH) deposit to an account as directed by Landlord by written notice to Tenant on or before the first day of each calendar month. Landlord agrees to accept payment by Federal Reserve Automated Clearing House (ACH) deposit only so long as such system is available for Landlord's use. In addition to the Base Rent, Tenant also agrees to pay Tenant's Share of Operating Expenses and Taxes (each as hereinafter defined), and any and all other sums of money as shall become due and payable by Tenant as set forth in this Lease, all of which shall constitute additional rent under this Lease (the "Additional Rent"). All non-recurring payments of Additional Rent will be due and payable as of the date that is thirty (30) days after Landlord's delivery of an invoice therefor. Landlord expressly reserves the right to apply any payment received to Base Rent or any other items of Rent that are not paid by Tenant. The Base Rent, the Monthly Rent and the Additional Rent are sometimes hereinafter collectively called "Rent" and shall be paid when due in lawful money of the United States without demand, deduction, abatement, or offset, except to the extent expressly set forth herein, to the addresses for the rental payment set forth in the Basic Lease Information, or via ACH transfer or as Landlord may designate from time to time by written notice delivered at least thirty (30) days prior to the effective date of expiration the address change. 4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant hereunder is not paid within five (5) days after its due date, Tenant shall pay to Landlord a late charge (the "Late Charge"), as Additional Rent, in an amount of five percent (5%) of the amount of such late payment. Failure to pay any Late Charge following notice and the passage of the cure period described in Section 22.1(a) below shall be deemed a Monetary Default (as hereinafter defined). Provision for the Late Charge shall be in addition to all other rights and remedies available to Landlord hereunder, at law or in equity, and shall not be construed as liquidated damages or limiting Landlord's remedies in any manner. Failure to charge or collect such Late Charge in connection with any one (1) or more such late payments shall not constitute a waiver of Landlord's right to charge and collect such Late Charges in connection with any other similar or like late payments. Notwithstanding the foregoing provisions of this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in the twelve (12) months following the Commencement Date or with respect to the first late payment in any succeeding twelve (12) month period during the Term unless the applicable payment due from Tenant is not received by Landlord within five (5) days following written notice from Landlord that such payment was not received when due. Following the first such written notice from Landlord in the twelve (12) months following the Commencement Date and the first such written notice in any succeeding twelve (12) month period during the Term (but regardless of whether such payment has been received within such five (5) day period), the Late Charge will be imposed without notice for any subsequent payment due from Tenant during such applicable twelve (12) month period which is not received within five (5) days after its due date. 4.3 Simultaneously with the execution hereof, Tenant shall deliver to Landlord (i) the Rent Payable Upon Execution as payment of the first installment of Monthly Rent and Tenant's Share of Operating Expenses and Taxes due hereunder and (ii) an amount equal to the Security Deposit Amount to be held by Landlord as security for Tenant's faithful performance of all of the terms, covenants, conditions, and obligations required to be performed by Tenant hereunder (the "Security Deposit"). The Security Deposit Amount shall be increased upon the addition of any Must-Take Space or Specific Offer Space (defined below) to the Premises by an amount equal to three (3) months of the initial Base Rent payable under this Lease with respect to such Must-Take Space or Specific Offer Space, and Tenant shall deliver such increased amount to Landlord on or before the applicable Must‑Take Space Commencement Date or Specific Offer Space Delivery Date, as applicable. Provided no Event of Default has occurred under this Lease as of such date, Tenant shall no longer have the obligation to maintain the Security Deposit if at any time during the Term (1) Tenant becomes a public company with its stock traded on the New York Stock Exchange or NASDAQ and (2) Tenant has thereafter achieved a market capitalization of at least $500,000,000 (the reduction in the Security Deposit permitted by this sentence is sometimes referred to herein as the "Market Capitalization Reduction"). Landlord acknowledges that, as of the Effective Date, Tenant has achieved a sufficient market capitalization to justify a Market Capitalization Reduction, and, therefore, no Security Deposit is initially due under this Lease. If Tenant is entitled to a reduction in or elimination of the Security Deposit, Tenant shall provide Landlord with written notice requesting that the Security Deposit be reduced or eliminated as provided above and the excess portion of the Security Deposit be applied to payment of Base Rent (the "Reduction Notice"). If Tenant provides Landlord with a Reduction Notice, and Tenant is entitled to reduce or eliminate the Security Deposit as provided herein, Landlord shall apply the applicable portion of the Security Deposit to Base Rent. Notwithstanding the foregoing, if at any time after the Security Deposit has been reduced the market capitalization of Tenant falls below $500,000,000 for three (3) consecutive calendar months, Tenant shall within ten (10) business days after Landlord's request, restore the amount of the Security Deposit to the amount that would otherwise apply if the Market Capitalization Reduction had not occurred; following any such reinstatement of the Security Deposit, if at any time thereafter Tenant achieves a market capitalization of at least $500,000,000 for a period of at least three (3) consecutive calendar months, Tenant may once again have the right, upon notice to Landlord, require a Market Capitalization Reduction. The Security Deposit shall be held by Landlord as security for the performance by Tenant of all of the covenants of this Lease to be performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit, an advance payment of any other kind, or a measure of Landlord's damages in any case of Tenant's default. If Tenant fails to timely perform any of the covenants of this Lease to be performed by Tenant, including without limitation the provisions relating to payment of Rent, the removal of property at the end of the Term, the repair of damage to the Premises caused by Tenant, and the cleaning of the Premises upon termination occursof the tenancy created hereby, then Landlord shall have the right, but no obligation, to apply the Security Deposit, or so much thereof as may be necessary, for the payment of any Rent or any other sum in default and/or to cure any other such failure by Tenant. If Landlord applies the Security Deposit or any part thereof for payment of such amounts or to cure any such other failure by Tenant, then Tenant shall within ten (10) days after demand by Landlord, pay to Landlord the sum necessary to restore the Security Deposit to the full amount then required by this Section 4.3 Landlord's obligations with respect to the Security Deposit are those of a debtor and not a trustee. Landlord shall not be required to maintain the Security Deposit separate and apart from Landlord's general or other funds and Landlord may commingle the Security Deposit with any of Landlord's general or other funds. Upon termination of the original Landlord's or any successor owner's interest in the Premises or the Building and the transfer of any then-current Security Deposit to Landlord's transferee by payment or other credit, the original Landlord or such successor owner shall be released from further liability with respect to the Security Deposit upon the original Landlord's or such successor owner's complying with California Civil Code Section 1950.

Appears in 1 contract

Sources: Lease Agreement (Penumbra Inc)

Rent. On Throughout the date that Tenant executes term of this Lease, Tenant shall deliver pay to Landlord the original executed Lease, the Advance Rent (which following base rent: Tenant shall be applied against the Rent payable for the first month(s) Tenant is required pay base rent to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of each month (time being of the calendar month essence) in which equal monthly installments, in advance, without any defense, deduction or setoff whatsoever. Payments shall be delivered to: Crostone Portland LLC, c/o Redstone, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: Property Management. Upon agreement of the parties, Tenant may pay rent by electronic funds transfer or ACH, and in such event the parties shall provide one another with such information and shall complete such forms as may be necessary to facilitate payment in such fashion. Landlord may assess a late fee equal to the greater of $25 or 10% of the amount due for each payment not received by Landlord by the 7th day of any month. Tenant will be in immediate default if Landlord has not received rent on or before the 10th day of any month, and any rent not received by such date shall bear interest from the due date to the date of expiration payment at the rate of twelve percent (12%) per annum. Tenant shall pay Landlord a $35 fee for every check returned for insufficient funds or termination occursotherwise dishonored, and Landlord shall thereafter have the right to demand payment by cashier's check, certified check or money order. ▇▇▇▇▇▇ agrees to pay all sums of money or charges of whatsoever nature required to be paid under other provisions of this Lease by Tenant to Landlord as additional rent. No payment by Tenant or receipt by Landlord of a lesser amount than any rents required by this Lease shall be deemed to be other than an account of the earliest stipulated rents or sums, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent or any sums be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy provided in this Lease.

Appears in 1 contract

Sources: Lease Agreement

Rent. On (a) The rent reserved under this Lease for the date Term hereof shall be and consist of (a) the Fixed Rent payable in equal monthly installments in advance, on the first day of each and every calendar month during the Term (except that Tenant executes shall pay the first monthly installment on the execution of this Lease); plus (b) such additional rent ("Additional Rent") in an amount equal to Tenant's Proportionate Share of Expenses (as such terms are defined in Paragraph 3 of this Lease) and all charges for services and utilities pursuant to Paragraph 15 hereof, and any other charges as shall become due and payable hereunder, including, without limitation, all expenses incurred by Landlord in the enforcement of any of the agreements, covenants and obligations of Tenant under this Lease, Tenant and including reasonable legal fees that may accrue in the event suit for rent or dispossess proceedings are necessary to obtain the possession of the Demised Premises or to collect the rent (if Landlord prevails in any such suit or proceedings), which Additional Rent shall deliver be payable as hereinafter provided, all to be paid to Landlord at its office stated above, or such other place within the original executed Leasecontinental United States as Landlord may designate, in lawful money of the United States of America; provided, however, that if the Commencement Date shall occur on a date other than the first calendar day of a month, the Advance Rent (which shall be applied against the Rent payable rent for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address partial month commencing on the Commencement Date and thereafter shall be appropriately pro-rated on the first (1st) day of each month throughout the balance basis of the Term monthly rent payable during the first year of the Term. (b) Tenant does hereby covenant and agree promptly to pay the Fixed Rent, Additional Rent and any other charges herein reserved as and when the same shall become due and payable, without demand therefor, and without any set-off, recoupment or deduction whatsoever, except as expressly set forth in this Lease. All Additional Rent and other charges payable hereunder, which are not due and payable on a monthly basis during the Term, unless otherwise specified herein, shall be due and payable within twenty (20) days of delivery by Landlord to Tenant of notice to pay the same. (c) In the event that any payment of Fixed Rent, Additional Rent or any other charges shall be paid more than five (5) business days after the due date for same provided herein, Tenant shall pay, together with such payment, the Late Charge and a like additional Late Charge for each thirty (30) days or portion thereof that such payment shall remain unpaid; provided, however, that notwithstanding the foregoing, Tenant shall be permitted to make one payment during each Lease beginning Year of the Term, and any renewals thereof, including the Initial Year, as hereinafter defined, after the due date without being assessed a Late Charge unless such payment is more than thirty (30) days late. (d) Notwithstanding anything to the contrary contained in this ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇ shall not be required to pay to Landlord the Monthly Fixed Rent attributable to the second (2nd) month through the tenth (10th) months of the Term of the Lease (provided, however, that Landlord has actually received the Advance "Rent as provided herein). In addition to the Base Rent, Abatement") but Tenant shall be required to pay Landlord Additional Rent during said nine (9) month period (other than Tenant's Proportionate Share of any increase in advance on Expenses which Tenant shall not be required to pay until after the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term Initial Year, as set forth in Paragraph 3 of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs).

Appears in 1 contract

Sources: Lease Agreement (Danbury Pharmacal Puerto Rico Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of $60,000.00 per year (“Base Rent”), without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid commencing on the Commencement Date, and any prorated . Base Rent for the final calendar month hereof shall be paid payable in advance, without demand, on the first day of the each calendar month in equal monthly installments of $2,500.00 and shall not be increased, abated or diminished except as set forth herein. Beginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the date preceding year’s Base Rent by 1.5%. If the Commencement Date is not the first day of expiration a calendar month, the first month’s Base Rent shall be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or termination occursotherwise in the case of nonpayment of Rent, Landlord shall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as otherwise expressly provided herein. It is the purpose and intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to Landlord, such that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any partial year).

Appears in 1 contract

Sources: Lease Agreement (ETHEMA HEALTH Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(sa) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid Beginning on the Commencement Date, Sublessee covenants and agrees to pay Sublessor during the Term of this Sublease base rent (the “Base Rent”), without deduction or offset and without notice or demand, at the Sublessor’s address, as set forth in Paragraph 14 hereof, or to such other entity or at such other place as Sublessor may from time to time designate in writing as follows: (b) In addition to Base Rent, in the event that, under any prorated provision of the Lease, any additional rent or other charge shall be payable by Sublessor to Landlord because of extra services ordered by or activities undertaken by or on behalf of Sublessee with respect to the Sublet Premises (including but not limited to after hours HVAC costs or extra janitorial services) or on account of Sublessee’s default hereunder, then Sublessee shall pay to Sublessor such additional rent or other charge on demand by Sublessor (collectively, the “Additional Rent”). The Base Rent and Additional Rent are collectively referred to hereinafter as the “Rent.” Sublessee hereby agrees that any and all such requests for extra services and/or activities for the final benefit of Sublessee shall be made by Sublessee in writing to Landlord, with a copy to Sublessor. In no event shall Sublessor be responsible for any matter associated with the provision, or lack of provision, of any such extra services or activities. Sublessor shall have the right to require that Sublessee provide a cash security deposit sufficient to cover the cost of such services prior to Landlord’s providing such services. Without limiting the foregoing: (i) Sublessee shall not otherwise be responsible for Sublessor’s “Pro Rata Percent” of “Operating Costs,” as these terms are defined in the Lease, including, without limitation, Sublessor’s pro rata share of taxes and operating expenses of the Building which Landlord pays during any calendar month hereof or fiscal year, any portion of which is applied to the Premises during the Term because of or in connection with the ownership, leasing, or operation of the Premises; and (ii) the term “Additional Rent” as used in this Paragraph 2(b) shall not be construed to include Sublessor’s “Pro Rata Percent” of “Operating Costs,” and Sublessor shall remain fully liable and responsible to Landlord under the Lease for these costs. (c) The Rent shall be paid in advance, on the first day of each and every month throughout the calendar month Term of this Sublease. If Sublessee fails to pay any installment of Rent within ten (10) days after same is due, such unpaid amount shall bear interest from the due date until paid in full at a rate equal to the lesser of: (a) the highest rate announced from time to time as the prime interest rate by Citibank, N.A. plus three (3) percentage points; or (b) the maximum legal rate allowed by law. If Sublessee makes two (2) consecutive payments of Base Rent which the date are returned to Sublessor by Sublessee’s financial institution for insufficient funds, Sublessor may require, by giving written notice to Sublessee, that all future payments of expiration Rent shall be made in cashier’s check or termination occursby money order. The foregoing is in addition to any other remedies of Sublessor hereunder, at law or in equity.

Appears in 1 contract

Sources: Sublease (Itex Corp)

Rent. On the date that 3.1 Tenant executes this Lease, Tenant shall deliver agrees to pay to Landlord the original executed LeaseAnnual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Terms, except that the Advance Rent (which first full mouth’s rent shall be applied against paid upon the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B execution of this Lease. Tenant agrees The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to pay Landlord the Base RentLandlord, without prior deduction or offset and without notice or demand, abatementat the Rent Payment Address, offset, deduction or claim, in advance at Landlord's Address as set forth on the Commencement Date and thereafter on the first (1st) day Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedDefault occurs, howeverLandlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, that Landlord has actually received the Advance Rent as provided herein)without cost to Landlord. In addition Tenant must implement such automatic payment system prior to the Base Rentnext scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall pay Landlord be deemed additional rent. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in advance on administrative expense to Landlord, the Commencement Date extent of which additional expense is extremely difficult and thereafter on the first (1st) day of each month throughout the balance of the Term of economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, as Additional Renta late charge shall be imposed in an amount equal to the greater of (a) Fifty Dollars ($50.00), Tenant's Share or (b) six percent (6%) of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesthe unpaid rent or other payment. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for a full calendar each successive month based upon a thirty (30) day monthuntil paid. To the extent not already paid as part The provisions of this Section 3.2 in no way relieve Tenant of the Advance Rent any prorated Rent shall be paid obligation to pay rent or other payments on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which or before the date on which they are due, nor do the terms of expiration this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or termination occursother payment is unpaid after date due.

Appears in 1 contract

Sources: Lease Agreement (Peak International LTD)

Rent. On 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the date that which is the earlier to occur of (a) eight (8) months following the Term Commencement Date, or (b) the date which is two (2) months following the date Tenant executes this Lease, Substantially Completes the Tenant shall deliver to Landlord Improvements (the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay RentCommencement Date”), the Security Depositsums set forth in Section 2.3, and all insurance certificates evidencing subject to the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, rental adjustments provided in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (Article 8 hereof; provided, however, that if the Landlord’s Work is not Substantially Complete upon the earlier of (a) or (b), then the Rent Commencement Date shall be the date that the Landlord’s Work is Substantially Complete; provided, further, however, that if Substantial Completion of the Landlord has actually received Work’s is delayed by a Tenant Delay, then the Advance Rent Commencement Date shall be the date that the Rent Commencement Date would have occurred but for such Tenant Delay. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided herein)in Article 8 hereof, each in advance on the first day of each and every calendar month during the Term. 7.2. In addition to the Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in advance on this Lease (a) Tenant’s Adjusted Share (as defined below) of Operating Expenses (as defined below), (b) the Commencement Date Property Management Fee (as defined below) and thereafter on (c) any other amounts that Tenant assumes or agrees to pay under the first (1st) day of each month throughout the balance of the Term provisions of this LeaseLease that are owed to Landlord, as 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, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated .” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America to the address 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 the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on a day other than the first day of a calendar month, then the calendar Rent for such fraction of a month shall be prorated for such period on the basis of the number of days in which the month and shall be paid at the then-current rate for such fractional month. 7.4. 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) except as expressly provided herein, 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 assert any defense in the nature of constructive eviction to any action seeking to recover 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 occursof 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.

Appears in 1 contract

Sources: Lease (Monte Rosa Therapeutics, Inc.)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, 3.01. Lessee covenants and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord in advance on the Base Rent, without prior notice or demand, abatement, offset, deduction or claimfirst day of each and every calendar month to Lessor, in advance lawful money of the United States, at Landlord's Address the address specified above or such other place as Lessor shall designate by written notice to Lessee, beginning on the Commencement Date and thereafter ending December 31, 2012, a fixed rent at the monthly rate of FOUR THOUSAND and NO/100 DOLLARS ($4,000.00) per month and beginning on January 1, 2013 and ending December 31, 2014, a fixed rent at the monthly rate of FOUR THOUSAND SEVEN HUNDRED FIFTY and NO/100 DOLLARS ($4,750.00) per month (“Net Rent”). 3.02. It is the intention of Lessor and Lessee that the Net Rent payable by Lessee to Lessor during the entire Term of this Lease shall be net of the property taxes more specifically described in ARTICLE 4 herein and all costs and expenses incurred in connection with or relating to the Property, including, without limitation, in connection with or relating to the management, operation, maintenance and repair of the Property in accordance with this Lease. Lessor shall have no obligations or liabilities whatsoever in connection with or relating to the Property or the management, operation, maintenance or repair of the Property during the term of this Lease, and Lessee shall be responsible for all obligations of every kind and nature whatsoever in connection with or relating to the Property or any part thereof, including, without limitation, the management, operation, maintenance and repair of the Property in accordance with this Lease and Lessee shall pay all costs and expenses incurred in connection therewith before such costs or expenses become delinquent. 3.03. The Net Rent shall be paid to Lessor promptly when due without notice or demand therefor, and without any abatement, deduction, set-off, suspension or defense for any reason whatsoever. 3.04. Lessee will also pay to Lessor promptly when due, in lawful money of the United States, at the address specified above or such other place as Lessor shall designate by written notice to Lessee, without notice or demand therefor and without any abatement, deduction, setoff, suspension or defense for any reason whatsoever, as additional rent (the “Additional Rent”), the Impositions (as defined in ARTICLE 4 hereof) which shall become due and payable from Lessee to Lessor under this Lease, and, in the event of any non-payment thereof (beyond all applicable notice, grace and cure periods set forth in this Lease), Lessor shall have (in addition to all other rights and remedies which Lessor may have hereunder) all the rights and remedies provided for herein or by law or equity in the case of non-payment of the Net Rent (beyond all applicable notice, grace and cure periods set forth in this Lease). Net Rent, Additional Rent and all other payments due by Lessee under this Lease are collectively referred to in this Lease as “Rent”. 3.05. In the event any monthly installment of Net Rent or any payment of Additional Rent is not received by the Lessor on the day when due, a late fee of five percent (5%) of the amount due shall be due and payable, provided, however, that Lessee shall have a 5-day grace period once every 12 months during the Term, and if the amount due is paid during such 5-day grace period, no late fee shall be assessed. In no event shall such late fee be deemed to grant to Lessee a grace period or extension of time within which to pay any Rent or prevent Lessor from exercising any right or enforcing any remedy available to Lessor upon Lessee’s failure to pay all Net Rent or Additional Rent due and as required under this Lease, including, without limitation, the right to terminate this Lease (after giving effect to all applicable notice, grace and cure periods). All amounts of money payable by Lessee to Lessor hereunder, if not paid when due, shall bear Interest (as hereinafter defined) from the due date until paid. 3.06. If the Commencement Date occurs on a day other than the first (1st) day of each a calendar month, the Net Rent for such partial calendar month throughout shall be prorated and paid on the Commencement Date. Any apportionments or prorations of Net Rent or Additional Rent to be made under this Lease shall be computed on the basis of a 365-day year. 3.07. No payment by Lessee or receipt or acceptance by Lessor of a lesser amount than the correct Net Rent or Additional Rent 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 an accord and satisfaction, and Lessor may accept such check or payment without prejudice to Lessor’s right to recover the balance or pursue any other remedy in this Lease or at law or equity provided. 3.08. Lessee shall pay Net Rent and Additional Rent as above and as herein provided, by good and sufficient check drawn on a bank which is a member of the Term of Federal Deposit Insurance Corporation or a successor thereto. 3.09. On the Lease beginning Commencement Date, Lessee shall pay Lessor the second (2nd) first month’s Net Rent and deposit with Lessor Net Rent for the last month of the Term of this Lease to be held by Lessor as a credit for the Lease final Net Rent payment. 3.10. On the Commencement Date, Lessee shall deposit with Lessor $4,000.00 (providedthe “Security Deposit”), which shall be held by Lessor, without obligation for interest, to secure Lessee’s obligations under this Lease; however, that Landlord has actually received the Advance Rent as provided hereinSecurity Deposit is not an advance rental deposit or a measure of Lessor’s damages for an Event of Default (defined below). In addition Lessor may use any portion of the Security Deposit to the Base Rentsatisfy Lessee’s unperformed obligations hereunder, Tenant without prejudice to any of Lessor’s other remedies. If so used, Lessee shall pay Landlord in advance on Lessor an amount that will restore the Commencement Date and thereafter on the first (1st) day Security Deposit to its original amount upon request. In connection with any waiver of each month throughout the balance of the Term a Lessee default or modification of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers Lessor may require that Lessee provide Lessor with an additional amount to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid held as part of the Advance Rent any prorated Rent Security Deposit. The unused portion of the Security Deposit will be returned to Lessee within a reasonable time after the end of the Term, provided that Lessee has fully and timely performed its obligations hereunder throughout the Term. In the event Lessor conveys the Land and assigns this Lease, the new owner shall be paid on the Commencement Date, and any prorated Rent reimburse Lessor for the final calendar month hereof shall be paid on Security Deposit upon the first day execution of the calendar month in which the date assignment of expiration or termination occursthis Lease.

Appears in 1 contract

Sources: Lease Agreement (Preferred Voice Inc)

Rent. On a. Tenant's liability for rent shall commence to accrue on the commencement date as defined in paragraph 2.b above, provided that Tenant executes this Lease, Tenant shall deliver to Landlord lease has not been terminated prior thereto. If the original executed Leaserent commencement date begins on a date other than the first of the month, the Advance Rent (which rent for such partial initial month shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, prorated and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, due and any prorated Rent for the final calendar month hereof shall be paid payable on the first day of the first full calendar month of the term hereof. The annual minimum rent to be paid by Tenant to Landlord shall be Three Hundred Thousand Dollars ($300,000.00) plus applicable sales taxes. Such rental shall be payable in equal monthly installments on the first day of each calendar month during the term hereof. b. All payments of rent hereunder shall be made to Landlord as the same become due in lawful money of the United States, at such places as hereinafter may be designated. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord and Tenant. c. In addition to the payments required herein as rent to the Landlord, the Tenant shall also pay the following: (1) All occupational licenses and other licenses necessary in the operation of the business to be carried on in the Demised Premises. (2) All utility services provided to the Demised Premises and used by Tenant, including, but not limited to, water, gas, electric, and telephone, as they from time to time shall accrue and be due and payable during the term of this lease. (3) Tenant shall pay to the appropriate governmental agencies ad valorem taxes with respect to the Demised Premises and the improvements thereon during the term of this lease or any extension thereof. It is further understood and agreed that all ad valorem taxes assessed during the first and last years of the term of this lease shall be prorated and that Tenant shall only be liable for such portions of such taxes assessed for said first and last years as its months of occupancy during any of said years shall bear to the total of twelve (12) months. Should Tenant fail to pay any tax when due and payable, Landlord may, if Landlord so desires, pay the same and the amount together with any penalties which Landlord may have paid, shall immediately become due and payable to Landlord as additional rent. Tenant shall have the right in its name or in Landlord's name, whichever shall be appropriate, but at its own cost and expense, to file and prosecute applications for reduction of assessed valuation and to institute legal proceedings for the reduction thereof. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the Landlord or the estate of the Landlord with respect to the Demised Premises. Landlord agrees to promptly deliver copies of all tax notices and tax bills to the Tenant so that Tenant may timely contest any proposed tax increase and promptly pay the tax due as to take advantage of any discounts allowed for timely payment. In the event of any special assessment with respect to the Demised Premises levied during the term of this Lease, the Tenant shall have no obligation with respect to payment of such assessment and Landlord shall be obligated to pay same. Landlord shall use reasonable efforts, if requested by Tenant, to obtain from the taxing authorities a separate assessment for the Demised Premises if said premises are part of a larger parcel. If such separate assessment shall be obtained, the real estate taxes payable by Tenant shall be paid by Tenant directly to the taxing authority. If Landlord shall be unable to obtain such separate assessment, and the tax bill covering the Demised Premises shall include property in additio▇ ▇▇ the Demised Premises, Tenant shall pay its proportionate share of said tax bill to Landlord, which proportionate share shall equal the product ▇▇▇▇ined by multiplying the amount of the tax bill by a fraction, the numerator of which is the acreage contained ▇▇▇▇in the Demised Premises and the denominator of which is the total land owned by the Landlord and assessed in the tax bill. Tenant shall pay its share by the later of (i) thirty (30) day▇ ▇▇ter Landlord notifies Tenant of the amount thereof and furnishes Tenant with a copy of the tax bill and the calculations by which Tenant's share has been determine▇, ▇r (ii) ten (10) days prior to the due date of expiration the tax. Landlord shall pay said tax bill when due. In no event shall Tenant be liable for interest or termination occurspe▇▇▇▇ies, if Tenant shall pay such taxes within such period. Landlord will furnish Tenant with a copy of the receipted tax bill promptly after demand therefor.

Appears in 1 contract

Sources: Lease Agreement (First Team Automotive Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(sa) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant The Head Lessee hereby agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, Head Lessor rent in advance at Landlord's Address the amount of the Owner Lessor’s Cost on the Commencement Closing Date for the Head Lease Basic Term and thereafter on all Head Lease Renewal Terms (the first (1st) day “Head Lease Rent”). The Head Lessor acknowledges receipt of each month throughout the balance such amount in full satisfaction of the Head Lessee’s obligation to pay rent during the Head Lease Basic Term and each Head Lease Renewal Term for the Owner Lessor’s Interest. If the Head Lessee elects to renew the term of the Head Lease beginning the second (2nd) month of the Owner Lessor’s Interest for a Head Lease Renewal Term or Head Lease Renewal Terms pursuant to Section 3.2 hereof, the Head Lessor agrees that no additional rent shall be payable in respect of any such Head Lease Renewal Term. The parties agree that for Federal, state and local income tax purposes, (i) this Head Lease constitutes a sale of the Lease (provided, however, that Landlord has actually received Undivided Interest and Software Rights from the Advance Rent as provided herein). In addition Head Lessor to the Base RentHead Lessee, Tenant and (ii) the Head Lease Rent will be treated as proceeds realized from such sale and assignment. (b) Head Lease Rent paid pursuant to Section 3.3(a) shall pay Landlord be retained by the Head Lessor in advance on any and all events which are contemplated, prospective or possible under the Commencement Date provisions and thereafter on the first (1st) day of each month throughout the balance of the Term conditions of this LeaseHead Lease and the other Operative Documents and shall be absolute and irrevocable under any circumstances whatsoever, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for including any fractional part of a calendar month at the commencement or expiration rescission or termination of this Head Lease, in whole or in part. (c) For all purposes of this Head Lease and the Operative Documents, the Head Lease Term Rent payment and any other amount payable by the Head Lessee in respect of the Owner Lessor’s Interest shall be a prorated amount separately stated as follows: (i) 67% for the use of the Rent for a full calendar month based upon a thirty (30) day month. To Owner Lessor’s Interest without regard to the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement DateSoftware Rights separately stated, and any prorated Rent (ii) 33% for the final calendar month hereof shall be paid on assignment of, or grant of a non-exclusive license to use, the first day of Software Rights with respect to the calendar month in which the date of expiration or termination occursOwner Lessor’s Interest.

Appears in 1 contract

Sources: Head Lease Agreement (Tennessee Valley Authority)

Rent. On the date that Tenant Lessee executes this Lease, Tenant Lessee shall deliver to Landlord Lessor the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant Lessee under Section Paragraph 12 and Exhibit B of this Lease. Tenant Lessee agrees to pay Landlord the Base RentLessor, without prior notice or demand, or abatement, offset, deduction or claim, except as otherwise provided herein, the Base Rent described on Page 1, payable in advance at LandlordLessor's Address address shown on Page 1 on the Commencement Date first day of each month throughout the term of the Lease. In addition to the Base Rent set forth on Page 1, Lessee shall pay Lessor in advance and thereafter on the first (1st) day of each month throughout the balance term of the Term of the Lease beginning the second (2nd) month of the Term of the this Lease (provided, however, that Landlord has actually received the Advance Rent as provided hereinincluding any extensions of such term). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rentadditional rent Lessee's share, Tenant's Share as set forth on Page 1, of Operating Expenses, Tax Expenses, Common Area Utility Costs, administrative expenses and Utility Expenses, as specified in Paragraphs 6.A., 6.B., 6.C. and 7 of this Lease, respectively. Additionally, Lessee shall pay to Lessor as additional rent hereunder, within thirty (30) days after Lessor's written demand therefore (which demand may be made by delivery of a ▇▇▇▇ or statement to Lessee), any and all out-of-pocket costs and expenses incurred by Lessor to enforce the provisions of this Lease, including, but not limited to, costs associated with any proposed assignment or subletting of all or any portion of the Premises by Lessee, costs associated with the delivery of notices, delivery and recordation of notice(s) of default, reasonable attorneys' fees, expert fees, court costs and filing fees (collectively, the "Enforcement Expenses"). The term "Rent" whenever used herein refers to the aggregate of the Base Rent, Lessee's share of Operating Expenses, Tax Expenses, Insurance Expenses, Administrative Expenses and Utility Expenses, Enforcement Expenses and all these amountsother amounts described herein as "additional rent.". If Landlord Lessor permits Tenant Lessee to occupy the Premises without requiring Tenant Lessee to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base RentRent and Lessee shall otherwise perform all other obligations of Lessee hereunder, including, but not limited to paying to Lessor any and all amounts considered additional rent, such as Lessee's share of Operating Expenses, Tax Expenses, Common Area Utility Costs, Utility Expenses, and administrative expenses. If, at any time, Lessee is in default of or otherwise breaches any term, condition or provision of this Lease, any such waiver by Lessor of Lessee's requirement to pay rental payments shall be null and void and Lessee shall immediately pay to Lessor all rental payments waived by Lessor. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day the actual days in the month. To the extent not already paid as part of the Advance Rent any The prorated Rent shall be paid on the Commencement Date, Date and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs, as the case may be.

Appears in 1 contract

Sources: Lease Agreement (Burke Industries Inc /Ca/)

Rent. On the date Tenant shall pay rent consisting of (i) Base Rent, and (ii) all other sums that become payable by Tenant executes under this Lease, Tenant shall deliver whether to Landlord the original executed Leasedirectly, the Advance Rent (which shall be applied against the Rent payable or to a third party for the first month(s) Tenant is required to pay benefit of Landlord and the Premises (“Additional Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition Base Rent and Additional Rent are referred to the Base herein as “Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated .” All Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid in advance on the first day of each month unless otherwise provided herein. Notwithstanding any other provision hereof, Tenant shall pay to Landlord, with all Rent, any rent, transaction, privilege or other tax now or hereafter imposed on any Rent due or paid under this Lease. All Rent shall be paid in lawful money of the United States to Landlord, c/o the Property Manager at the address set forth in the Basic Lease Terms preceding this Lease, or at such other place as Landlord shall designate by written notice to Tenant. Tenant shall pay all Rent promptly when due without notice or demand therefor and without any abatement, deduction or off set, for any reason whatsoever, except as may be expressly provided in this Lease. If the Tenant’s obligation to pay Base Rent does not commence on the first day of a calendar month, or does not expire on the last day of the calendar month, the Base Rent payable by Tenant on the first fractional month, or the last fractional month, as the case may be, shall be prorated for said month. Base Rent for the first full calendar month of the Term for which Base Rent is payable shall be paid upon execution of this Lease, and Base Rent for any partial month at the beginning of the Term shall be due on the Commencement Date. Tenant acknowledges that Tenant’s late payment of Rent due Landlord will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and impractical to ascertain. Therefore, if Landlord does not receive any Rent due from Tenant within ten (10) days of when due, Tenant shall pay to Landlord an additional sum equal to five percent (5%) of the overdue amount, which late charge shall be due and payable on demand. The payment of late charges and the payment of interest are distinct and separate from one another in which that the payment of interest is to compensate Landlord for the use of Landlord’s money by Tenant, while the payment of late charges is to compensate Landlord for the additional administrative expenses incurred by Landlord in handling and processing delinquent payments. By their execution of this Lease, Landlord and Tenant confirm that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment, that the late charge is in addition to any and all remedies available to Landlord and that the assessment and/or collection of the late charge shall not be deemed a waiver by Landlord of such failure or of any other default under this Lease. Additionally, all such delinquent Rent, plus any late charge, shall bear interest at the rate of six percent (6%) per annum, or, if lower, the maximum interest rate permitted by law (as applicable, the “Default Rate”), from the date due until paid. If any payment of expiration or termination occursRent is returned for insufficient funds, Landlord may require Tenant to pay all future payments by cashier’s check.

Appears in 1 contract

Sources: Lease Agreement (Ampio Pharmaceuticals, Inc.)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees and covenants to pay Landlord an annual fixed rent in the amount of $30,000.00 per year (“Base Rent”), without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid commencing on the Commencement Date, and any prorated . Base Rent for the final calendar month hereof shall be paid payable in advance, without demand, on the first day of the each calendar month in equal monthly installments of $2,500.00 and shall not be increased, abated or diminished except as set forth herein. Beginning on January 1, 2026 and each January 1 of each year thereafter during the Term, the amount of Base Rent which shall be paid during each calendar year shall be increased above the date preceding year’s Base Rent by 1.5%. If the Commencement Date is not the first day of expiration a calendar month, the first month’s Base Rent shall be prorated, and shall be payable on the Commencement Date. In addition, Base Rent for the first full month of the Term shall be payable on the Commencement Date. Tenant shall also pay to Landlord such “Additional Rent” as described in Article 12 hereof. The Base Rent and the Additional Rent are hereinafter collectively referred to as the “Rent.” In the event that Tenant fails to make any payment of Rent within five (5) days after the same becomes due, then in addition to all rights, powers and remedies provided herein, by law or termination occursotherwise in the case of nonpayment of Rent, Landlord shall be entitled to recover from Tenant and ▇▇▇▇▇▇ agrees to pay to Landlord, on demand, a late payment charge equal to $250.00. This is a net lease and the Rent shall be paid without notice, demand, setoff, counterclaim, deduction or defense and, except as otherwise expressly provided herein, without abatement or suspension. It is the intention of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, except as otherwise expressly provided herein. It is the purpose and intent of Landlord and Tenant that the Rent payable under this Lease be absolutely net to Landlord, such that this Lease shall yield (on an absolute net basis) the Base Rent specified in this Lease for each year of this Lease (prorated, as applicable, for any partial year).

Appears in 1 contract

Sources: Lease Agreement (ETHEMA HEALTH Corp)

Rent. On 3.01. Tenant shall pay the date Fixed Rent in equal monthly installments in advance on the first day of each and every calendar month during the Term (except that Tenant executes shall pay, upon the execution and delivery of this Lease, Tenant shall deliver to Landlord the original executed LeaseLease by Tenant, the Advance Rent (which shall Rent, to be applied against the first installment or installments of Fixed Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant becoming due under Section 12 and Exhibit B of this Lease). Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on If the Commencement Date and thereafter occurs on a day other than the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of timecalendar month, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Fixed Rent for any fractional part of a the partial calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day monthprorated. 3.02. To the extent not already paid as part of the Advance Rent any prorated The Rent shall be paid on in lawful money of the Commencement DateUnited States to Landlord at its office, or such other place, or Landlord's agent, as Landlord shall designate by notice to Tenant. Tenant shall pay the Rent promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as may be expressly provided in this Lease. If Tenant makes any payment to Landlord by check, same shall be by check of Tenant and Landlord shall not be required to accept the check of any other Person, and any prorated Rent for the final calendar month hereof check received by Landlord shall be deemed received subject to collection. If any check is mailed by Tenant, Tenant shall post such check in sufficient time prior to the date when payment is due so that such check will be received by Landlord on or before the date when payment is due. Tenant shall assume the risk of lateness or failure of delivery of the mails, and no lateness or failure of the mails will excuse Tenant from its obligation to have made the payment in question when required under this Lease. 3.03. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct Rent 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 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 or at law provided. 3.04. If Tenant is in arrears in payment of Rent, Tenant waives Tenant's right, if any, to designate the items to which any payments made by Tenant are to be credited, and Landlord may apply any payments made by Tenant to such items as Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the items to which any such payments shall be credited. 3.05. In the event that any installment of Rent due hereunder shall be overdue for five (5) Business Days or more on more than one occasion in any Calendar Year, a "Late Charge" equal to four percent (4%) or the maximum rate permitted by law, whichever is less ("Late Payment Rate") for Rent so overdue may be charged by Landlord for each month or part thereof that the same remains overdue (so that, for example, in the case of a payment of Fixed Rent which has not been paid on within the applicable grace period), the Late Charge shall commence to accrue retroactive to the first day of the calendar month in to which such payment relates). Any such Late Charges if not previously paid shall, at the date option of expiration or termination occursthe Landlord, be added to and become part of the next succeeding Rent payment to be made hereunder.

Appears in 1 contract

Sources: Lease Agreement (Icon CMT Corp)

Rent. On Tenant covenants and agrees to pay Landlord, for the date that Tenant executes this Leasedemised premises, rent at the following rates and times: (a) Tenant shall deliver pay to Landlord the original executed Leasesum of four percent (4%) of Gross S&L Revenues, the Advance Rent (which as hereinafter defined. Said sums shall be applied against payable on or before September 15 of each year during the term of this Lease and shall be determined with reference to the Gross S&L Revenues actually received by Tenant for its preceding 12-month fiscal year ended July 31. Rent payable shall be prorated for any partial year included in the term. (b) The payment by Tenant to Landlord shall be accompanied by a statement of Tenant's Chief Financial Officer setting forth the Gross S&L Revenues actually received by Tenant for the first month(s) Tenant is required to pay Rent)period involved and the method of computing the amount, the Security Depositif any, and all insurance certificates evidencing the insurance required to be obtained simultaneously being paid by Tenant under Section 12 to Landlord in such detail as Landlord and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesfrom time to time reasonably agree. The term "RentGross S&L Revenues" whenever used herein refers shall mean any and all revenues determined in accordance with generally accepted accounting principles attributable to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver use or ownership of the requirement to pay rental payments shall only apply to leased premises and any additional property owned by the waiver Tenant, or its successors or assigns or any affiliates of any such parties, now or at any time in the future used and operated on an integrated basis as a part of what is now known as the Wolf Mountain Ski Resort or any successor thereto (including without limitation, any of the Base Rent. The Rent for land included in Section 25.06 below and any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid property designated on the Commencement DateParcel Maps as [UPC Mines, Lehmer, BLM, Sun Peak, ▇. ▇▇▇▇▇▇▇▇, UWSP and Hi Ute Ranch]), or from any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration buildings, lodges, restaurants, sports facilities, condominium units, lifts or termination occurs.other structures located thereon, including without limitation, any sales, charges, dues, rentals, concessions, fees, or other revenues relating thereto, excluding only:

Appears in 1 contract

Sources: Ground Lease Agreement (Asc Holdings Inc)

Rent. On (a) Tenant covenants and agrees to pay Landlord by good and sufficient check at the address of Landlord herein provided (or at such other address as Landlord may designate) monthly rent in the amount of Three Thousand and 00/100 Dollars ($3,000.00), payable in advance, on the first day of each month. The foregoing rent shall be paid to Landlord without notice or demand, and without abatement, deduction, setoff, reduction, counterclaim, or diminution. If a rent payment is mailed, it shall be mailed in sufficient time and with adequate postage thereon to be actually received by Landlord by the due date. (b) All sums due and owing by Tenant pursuant to the terms of this Agreement other than the rent specified in subparagraph 3(a) above are additional rent, and Landlord shall have all of the same rights and remedies to collect such additional rent as it has to collect rent. (c) If any payment of rent or additional rent is not received by Landlord on the date on which such payment is due, then Tenant shall pay Landlord, as additional rent, interest on the amount of such overdue payment accruing from the due date until the date when paid at the rate of twelve percent (12%) per annum. If Landlord must consult with or engage the services of an attorney to collect any rent or additional rent owed by Tenant under this Agreement or to otherwise enforce Landlord's rights under this Agreement, then Tenant shall pay Landlord, as additional rent, all attorneys fees incurred by Landlord. (d) It is the intention of Landlord and Tenant that all rent payable under this Agreement shall be absolutely "net" to Landlord, except as to the express obligations of Landlord contained in this Agreement, and accordingly all costs, expenses, and obligations of every kind relating to all utilities, insurance, repairs, replacement, rebuilding, painting, cleaning, maintenance, operation, and upkeep of the Premises that are not specifically assumed by Landlord under this Agreement are deemed to be the responsibility of Tenant; and Tenant executes does hereby release and indemnify Landlord from or against all such costs, expenses, and obligations not specifically assumed by Landlord under this LeaseAgreement. Except as otherwise specifically assumed by Landlord in this Agreement, this Agreement shall not terminate nor shall Tenant be entitled to any abatement, deduction, deferment, suspension, or reduction of, or setoff, defense, or counterclaim against, any rent, additional rent, charges, or other sums payable by Tenant under this Agreement, it being the intention that the obligations of Landlord and Tenant hereunder shall be separate and independent covenants and agreements and that the net rent, additional rent, and all other charges and sums payable by Tenant hereunder shall continue to be payable in all events unless the obligation to pay same shall be terminated pursuant to the express provisions of this Agreement. (e) Simultaneously with the execution of this Agreement, Tenant shall deliver has delivered to Landlord the original executed Leasesum of Twenty Five Thousand and 00/100 Dollars ($25,000.00) (the "Security Deposit") as security for Tenant's full and faithful performance of all of its obligations under this Agreement (including, without limitation, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required obligation to pay Rentrent), . Tenant shall not be entitled to any interest on the Security Deposit, and all insurance certificates evidencing Landlord may commingle the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this LeaseSecurity Deposit with its other funds. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, If Tenant shall pay Landlord default in advance on the Commencement Date and thereafter on the first (1st) day performance of each month throughout the balance any of the Term of its obligations under this Lease, Landlord may (but shall not be obligated to) apply all or any portion of the Security Deposit to the damages sustained by Landlord as Additional Rent, a result of or to cure such default. Landlord's application of the Security Deposit pursuant to the preceding sentence shall not be construed as an agreement to limit the amount of Landlord's claim or as a waiver of any damage resulting from Tenant's Share default. At any time that Landlord shall have applied all or a portion of Operating Expensesthe Security Deposit as aforesaid, Tax ExpensesTenant shall, Common Area Utility Costswithin ten (1 0) days after a request by Landlord, and Utility Expenses. The term "Rent" whenever used herein refers pay Landlord a sum equal to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver portion of the requirement to pay rental payments Security Deposit so applied, which sum shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as then become part of the Advance Rent Security Deposit. The Security Deposit shall not be deemed or construed to be an advance payment of rent for any prorated Rent month during the Term. (f) Tenant and Landlord agree that when "Closing" (as hereinafter defined) occurs, then at Closing the Security Deposit shall be paid on credited toward the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day "Purchase Price" (as hereinafter defined) of the calendar month in which the date of expiration or termination occursProperty.

Appears in 1 contract

Sources: Lease and Purchase Agreement (Industrial Services of America Inc /Fl)

Rent. On the date that 3.1 Tenant executes this Lease, Tenant shall deliver agrees to pay to Landlord the original executed LeaseAnnual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent (subject to the Fourth Floor Abated Monthly Installment of Rent, the Advance Ninth Floor Abated Monthly Installment of Rent (which and the Tenth Floor Abated Monthly Installment of Rent) shall be applied against paid upon the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B execution of this Lease. Tenant agrees The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to pay Landlord Landlord, without deduction or offset (except as expressly set forth in Exhibit B attached hereto and except as provided above with respect to the Base prepaid rent for the first month and the Fourth Floor Abated Monthly Installment of Rent, the Ninth Floor Abated Monthly Installment of Rent and the Tenth Floor Abated Monthly Installment of Rent), without prior notice or demand, abatementat the Rent Payment Address, offset, deduction or claim, in advance at Landlord's Address as set forth on the Commencement Date Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default resulting from Tenant’s failure to pay rent occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within thirty (30) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and thereafter on sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed as follows: (i) Tenant shall not be required to pay any late charge with respect to the first such late payment in any twelve (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd12) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance period of the Term of this LeaseLease or any extension thereto; (ii) if Tenant fails to pay rent or any other sum when due and payable pursuant to this Lease a second time during any twelve (12) month period commencing on the date of the first late payment, as Additional RentTenant shall be required to pay a late charge equal to $5,000.00 for the second such late payment in such twelve (12) month period; and (iii) thereafter, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesa late charge equal to $7,500.00 shall apply to any subsequent late payment within the foregoing twelve (12) month period. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for a full calendar each successive month based upon a thirty (30) day monthuntil paid. To the extent not already paid as part The provisions of this Section 3.2 in no way relieve Tenant of the Advance Rent any prorated Rent shall be paid obligation to pay rent or other payments on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which or before the date on which they are due, nor do the terms of expiration this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or termination occursother payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Cray Inc)

Rent. On (a) During the date that Tenant executes this LeaseSecond A&R Lease Term, Tenant shall deliver Lessee will pay to Landlord Lessor on the original executed Leasefirst Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the Advance pro-rated portion thereof) (the “Second A&R Lease Term Rent (which Payments”). The Second A&R Lease Term Rent Payments for a Quarter shall be applied against adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Second A&R Lease Term Rent Payments shall be payable through the end of the Second A&R Lease Term notwithstanding any termination of this Lease (and the obligation to make all such Second A&R Lease Term Rent Payments will be treated as having been incurred at the inception of the Second A&R Lease Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the Second A&R Lease US 1102141v.23 Term, no further Second A&R Lease Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Second A&R Lease Term Rent Payment due with respect to the Quarter in which this Lease is terminated. With respect to the first payment to be made hereunder for the first month(sQuarter of the Second A&R Lease Term, Lessee shall pay to Lessor, on the Effective Date, the Second A&R Lease Term Rent Payment set forth on Schedule 1 for such Quarter for the period of time from and including the Effective Date to the end of such Quarter. (b) Tenant Lessor and Lessee acknowledge and agree that Lessee has previously paid to Lessor all Rent Payments owed by Lessee under the Exchange Lease and the First A&R Lease. (c) During each Renewal Term, Lessee will pay to Lessor on the first Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the pro-rated portion thereof) (the “Renewal Term Rent Payments”). The Renewal Term Rent Payments for a Quarter shall be adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Renewal Term Rent Payments shall be payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and the obligation to make all such Renewal Term Rent Payments will be treated as having been incurred at the inception of the Renewal Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the applicable Renewal Term, no further Renewal Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Renewal Term Rent Payment due with respect to the Quarter in which this Lease is terminated. If this Lease is extended beyond November 9, 2021 pursuant to Section 3.1(b), the Parties shall negotiate in good faith to agree on the Rent Payments for Renewal Terms during such extension. If the Parties cannot agree in good faith on the Rent Payments for such Renewal Terms by the commencement of such extension, then this Lease shall terminate as of such date. (d) Lessee shall make the Rent Payments in immediately available funds to an account in the United States of America designated from time to time to Lessee in writing by Lessor. The initial nominated account of Lessor is: Colorado Business Bank Address: ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Account Name: Clean Coal Solutions, LLC Routing #: ▇▇▇▇▇▇▇▇▇ Account #: * (e) Any Rent required to be paid under this Section 2.2 that is not so paid (unless subject to a good faith dispute) will bear interest from the date on which Rent was required to be paid to the date such Rent is actually received by Lessor at an effective annual rate equal to the Interest Rate. In the event of a dispute with respect to any Rent pursuant to this Section 2.2, the Parties shall continue to perform their obligations as required hereunder. Upon resolution of such dispute, the Rent, if any, determined to be owing by Lessee to Lessor (by agreement of the Parties or final determination of a court of competent jurisdiction) shall be paid within five Business Days US 1102141v.23 following such resolution, together with interest (using the interest rate described above) from the date Lessee was required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursdisputed amount.

Appears in 1 contract

Sources: Equipment Lease (Advanced Emissions Solutions, Inc.)

Rent. On (a) Tenant shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Leased Premises during the Term, the Basic Rent in arrears, on the Basic Rent Payment Dates, and shall pay the same by ACH or other electronic means in immediately available federal funds or other mutually agreed upon means in immediately available federal funds, by 11:30 a.m., New York time on the date that due, to such account in such bank as Landlord (or Lender, if Landlord directs Tenant executes this Leaseto pay Basic Rent directly to Lender) shall designate, Tenant shall deliver from time to Landlord the original executed Lease, the Advance time. Basic Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, period from and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on including the Commencement Date through and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedincluding March 31, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent 2004 shall be paid on the Commencement Date, and any prorated Date in the amount equal to 1/31 of the monthly Basic Rent for the final calendar month hereof initial term set forth on Exhibit "B" attached hereto for each day from and including the Commencement Date through and including March 31, 2004. The first Basic Rent Payment Date shall be April 30, 2004. (b) Tenant shall pay and discharge before the imposition of any fine, lien, interest or penalty that may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have all rights, powers and remedies provided herein, by law or otherwise, in the event of nonpayment of Basic Rent. All payments of Additional Rent that are payable to Landlord shall be paid on the first day by Tenant by wire transfer in immediately available federal funds to such account in such bank as Landlord (or Lender, if so directed by Landlord) shall designate, from time to time. (c) If any installment of the calendar month in which Basic Rent is not paid within five (5) days after the date of expiration or termination occursthe same is due, Tenant shall pay to Landlord, on demand, as Additional Rent, a Late Charge. (d) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the transactions represented by this Lease in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with "true lease" treatment rather than "financing" treatment.

Appears in 1 contract

Sources: Lease (Performance Food Group Co)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay to Landlord the Base Rentrent, without prior notice or demand, abatement, offset, deduction or claimset off, in advance for the entire term hereof for said premises at Landlord's Address the rate of See Paragraph 25A Dollars ($See Paragr▇▇▇ ▇▇▇) ▇▇▇ ▇▇▇▇▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇allment shall be due and payable on the Commencement Date commencement date recited above, and thereafter a like monthly installment shall be due and payable without demand on or before the first (1st) same day of each succeeding month throughout during the hereby demised term; provided that if the said commencement date should be a date other than the first day of a calendar month, there shall be due and payable on the said commencement date as rent for the balance of the Term calendar month during which the said commencement date shall fall a sum equal to that proportion of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent rent for a full month as herein provided which the number of days from the said commencement date to the end of the calendar month based upon a thirty (30) day during which the said commencement date shall fall bears to the total number of days in such month. To the extent not already paid as part , and all succeeding installments of the Advance Rent any prorated Rent rent shall be paid payable on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on or before the first day of the each succeeding calendar month in which during the hereby demised term as first above provided. In addition, Tenant agrees to deposit with Landlord on the date hereof the sum of expiration See Paragraph 25E Dollars ($See Paragraph 25E), which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of rent and any other damage, injury, expense or liability caused by such event of default; and Tenant shall pay to Landlord on demand the amount so applied in order to restore the security deposit to its original amount. If Tenant is not then in default hereunder, any remaining balance of such deposit shall be returned by Landlord to Tenant upon termination occursof this lease.

Appears in 1 contract

Sources: Lease Agreement (Stimsonite Corp)

Rent. On (a) During the date that Tenant executes this LeaseInitial Term, Tenant shall deliver Lessee will pay to Landlord Lessor on the original executed Leasefirst Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the Advance pro-rated portion thereof) (the “Initial Term Rent (which Payments”). The Initial Term Rent Payments for a Quarter shall be applied against adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Initial Term Rent Payments shall be payable through the end of the Initial Term notwithstanding any termination of this Lease (and the obligation to make all such Initial Term Rent Payments will be treated as having been incurred at the inception of the Initial Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the Initial Term, no further Initial Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Initial Term Rent Payment due with respect to the Quarter in which this Lease is terminated. With respect to the first payment to be made hereunder for the first month(sQuarter of the Initial Term, Lessee shall pay to Lessor (i) Tenant is required to pay Rent)on the Effective Date, the Security Depositpro-rated portion of the Initial Term Rent Payment set forth on Schedule 1 for such Quarter for the period of time from and including the Effective Date to the end of such Quarter, and all insurance certificates evidencing (ii) within fifteen (15) Days after the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord Effective Date, the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance pro-rated portion of the Term of all rent payments due under the Exchange Lease beginning for the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on time from the first day of the calendar month current Renewal Term (as such term is defined in the Exchange Lease) under the Exchange Lease to (but not including) the Effective Date. (b) During each Renewal Term, Lessee will pay to Lessor on the first Business Day of each Quarter the payment set forth on Schedule 1 for such Quarter (or, if applicable, the pro-rated portion thereof) (the “Renewal Term Rent Payments”). The Renewal Term Rent Payments for a Quarter shall be adjusted in an amount equal to any applicable increase or decrease calculated in accordance with the methodology set forth in Exhibit C. The Renewal Term Rent Payments shall be payable through the end of the applicable Renewal Term notwithstanding any termination of this Lease (and the obligation to make all such Renewal Term Rent Payments will be treated as having been incurred at the inception of the Renewal Term), except for a termination pursuant to Section 3.1(f). In the event that this Lease is terminated pursuant to Section 3.1(f) prior to the end of the applicable Renewal Term, no further Renewal Term Rent Payments shall be due, though the Lessee will pay to the Lessor a pro-rated amount of the Renewal Term Rent Payment due with respect to the Quarter in which this Lease is terminated. If this Lease is extended beyond November 9, 2021 pursuant to Section 3.1(b), the Parties shall negotiate in good faith to agree on the Rent Payments for Renewal Terms during such extension. If the Parties cannot agree in good faith on the Rent Payments for such Renewal Terms by the commencement of such extension, then this Lease shall terminate as of such date. (c) Lessee shall make the Rent Payments in immediately available funds to an account in the United States of America designated from time to time to Lessee in writing by Lessor. The initial nominated account of Lessor is: Colorado Business Bank ABA #: ▇▇▇▇▇▇▇▇▇ Account Name: AEC-NM, LLC Account #: * (d) Any Rent required to be paid under this Section 2.2 that is not so paid (unless subject to a good faith dispute) will bear interest from the date on which Rent was required to be paid to the date such Rent is actually received by Lessor at an effective annual rate equal to the Interest Rate. In the event of expiration a dispute with respect to any Rent pursuant to this Section 2.2, the Parties shall continue to perform their obligations as required hereunder. Upon resolution of such dispute, the Rent, if any, determined to be owing by Lessee to Lessor (by agreement of the Parties or termination occursfinal determination of a court of competent jurisdiction) shall be paid within five Business Days following such resolution, together with interest (using the interest rate described above) from the date Lessee was required to pay the disputed amount.

Appears in 1 contract

Sources: Equipment Lease (Ada-Es Inc)

Rent. On Tenant, in return for the date that Tenant executes this Leaseuse and occupancy of the Leased Premises and in consideration of the terms, Tenant conditions, covenants and provisions contained herein, shall deliver to pay Landlord the original executed Leaserent owed for the Term in 12 equal installments (each an “Installment”) of $«monthly_charge_total», the Advance Rent (which shall be applied against paid in advance, without notice, demand, offset or reduction (the "Rent"). While Landlord has no obligation to do so and may refuse to do so, Landlord may accept partial payment of Tenant’s Rent payable for or other payment obligations, but if it so elects, Landlord does not waive its right to collect and demand the first month(s) Tenant is required payment of the remainder of such obligations or enforce Tenant’s default hereunder due to failure to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Leasesuch amounts in full. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, hereby acknowledges that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for is less than a full calendar year, and the Rent has been allocated into 12 equal installments and is not based on a daily or calendar month based upon a thirty (30) day monthbasis. To the extent not already paid as part The first installment of the Advance Rent any prorated Rent shall be paid due on the Commencement DateAugust 1, 2017 and any prorated Rent for the final calendar month hereof each subsequent installment shall be paid due and payable on the first day of each month. The last installment of Rent shall be due on July 1, 2018. All payments should be made via the calendar month internet through Landlord’s Resident Portal. If payment via Landlord’s Resident Portal is not feasible, payment should be tendered directly to the Agent’s office in which the Neighborhood. Tenant and any Co- Lessee acknowledge and understand Landlord may refuse other forms of payment, subject to Prevailing Law. Tenant and Co-Lessee acknowledge Landlord will not waive late fees for any payments due to failure of such parties understanding how to submit payments through the Resident Portal and therefore Tenant and Co-Lessee are encouraged to be familiar with the Resident Portal prior to the date the first Rent payment is due. Upon receipt of expiration payment, Landlord will provide a written receipt with the date, amount paid, premises, time period covered and the signature and title of the person receiving payment. A written receipt is not required when payment is tendered via personal check absent written request for a receipt. If Rent is not timely paid, Landlord reserves the right to require Tenant to pay all Rent and late fees by cashier's check or termination occursmoney order.

Appears in 1 contract

Sources: Lease Agreement

Rent. On (a) The Ground Sublessee shall pay to the date that Tenant executes this Ground Sublessor the rent stipulated in Section 3.1(b) as consideration for the right to possession and use of the Facility Site and for the easements and other rights, privileges and licenses granted, conveyed and otherwise made available to the Ground Sublessee hereunder for the Site Sublease Term. (b) No rent shall be allocated to the first three months of the Site Sublease Term. Thereafter, allocated rent shall be $243,000 per calendar year (or a ratable portion thereof in the case of a partial calendar year) for the first half of the remaining portion of the Site Sublease Term through the Expiration Date under the Facility Lease and $297,000 per calendar year (or a ratable portion thereof in the case of a partial calendar year) for the second half of the remaining portion of the Site Lease Term through the Expiration Date under the Facility Lease, Tenant shall deliver to Landlord . In the original executed event of any renewal of the Facility Lease, the Advance Rent (which allocated rent shall be applied against $270,000 per calendar year (or a ratable portion thereof in the Rent case of a partial calendar year) for the portion of the Site Sublease Term following the Expiration Date under the Facility Lease through the end of the Facility Lease Term. Subject to Section 3.2 hereof, the rent allocated to each full or partial calendar year hereunder shall be paid by the Ground Sublessee to the Ground Sublessor on December 31 of each year in the amount allocated to such year (or in the event of a termination of this Site Sublease prior to December 31 of a year, the rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent such year shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first last day of the calendar month term hereof in the amount allocated to the portion of the year in which this Site Sublease terminates through the date of expiration or termination occurssuch termination). (c) The Ground Sublessor and the Ground Sublessee agree that no other consideration shall be due and payable from the Ground Sublessee for the rights granted hereunder.

Appears in 1 contract

Sources: Site Sublease (Keyspan Corp)

Rent. On During the date that Tenant executes this LeaseTerm, Tenant Lessee shall deliver pay to Landlord Lessor in lawful money of the original executed Lease, the Advance Rent (United States of America which shall be applied against the Rent payable legal tender for the first month(s) Tenant is required to pay Rent)payment of public and private debts, without offset or deduction, the Security Deposit, and all insurance certificates evidencing the insurance required to amounts determined by this Section 3.1 as monthly "Minimum Rent." Payments of monthly Minimum Rent shall be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, paid in advance at Landlord's Address on the Commencement Date and thereafter on or before the first (1st) day of each calendar month throughout the balance of the Term of the Lease beginning the second and shall be made either (2ndi) month of the Term of the Lease via wire transfer to an account as Lessor may from time to time designate in writing or (provided, however, that Landlord has actually received the Advance Rent ii) via Lessee's check therefor made payable to Lessor (or such other Person as Lessor may direct from time to time in writing) and delivered to Lessor's address for notices as provided hereinin Article XXXIV (or such other address as Lessor may designate from time to time in writing). In addition to the Base Rent, Tenant shall pay Landlord in advance . (a) Commencing on the Commencement Date and thereafter on continuing through the expiration of the first (1st) day of each month throughout the balance Lease Year of the Term of Fixed Term, Lessee shall pay to Lessor as monthly "Minimum Rent" for each Facility the amounts allocated to and set forth opposite such Facility on Exhibit B attached hereto and incorporated herein by this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesreference. The term "Rent" whenever used herein refers to the aggregate first installment of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The monthly Minimum Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent each Facility shall be paid on or before the Commencement Date. (b) The monthly "Minimum Rent" payable during the first (1/st/) Lease Year of each Extended Term, if any, for each Facility shall be the greater of (i) the then current monthly Fair Market Value Midpoint Rental for such Facility and any prorated (ii) the monthly Allocated Minimum Rent payable for such Facility for the final calendar month hereof last Lease Year of the immediately preceding Term. Following the commencement of each Extended Term, the parties shall be paid on execute an amendment to this Lease confirming the monthly Allocated Minimum Rent payable for each Facility during the first day (1/st/) Lease Year of such Extended Term and replacing the schedule set forth on Exhibit B with a new schedule Exhibit B. Notwithstanding the foregoing, the failure of Lessor to prepare or the failure of Lessee to so execute and deliver any such amendment shall not affect Lessor's determination of the calendar month in which the date of expiration or termination occursmatters to be confirmed thereby.

Appears in 1 contract

Sources: Master Lease (Kindred Healthcare Inc)

Rent. On the date that Tenant executes this Lease, A. Tenant shall deliver pay to Landlord Base Rent in the original executed Leasemanner provided in Section 5.C in equal consecutive monthly installments in advance on or before the 1st day of each calendar month commencing as of the Commencement Date and continuing through the Term. If the Term commences on a day other than the first day of a calendar month, or ends on a day other than the last day of a calendar month, Base Rent for such month shall be prorated by multiplying same by a fraction, the Advance Rent (numerator of which is the number of days of the Term within such calendar month and the denominator of which is the total number of days within such calendar month. Tenant shall pay its first monthly installment of Base Rent, which may be applied against pro-rated pursuant to this Section 5.A, on the Rent payable for Commencement Date in connection with Landlord’s acquisition of the first month(s) Tenant is required Premises pursuant to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Purchase Agreement. B. Tenant agrees to pay Landlord the all Real Estate Taxes and Utility Charges as set forth below. C. For purposes of this Lease, Base Rent, Real Estate Taxes, Utility Charges and any and all other amounts, sums, charges, liabilities and obligations which Tenant assumes or agrees to pay or may become liable for under this Lease at any time and from time to time are sometimes collectively referred to as “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent (except where such failure is directly due to the acts or omissions of Landlord), every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without prior notice limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. Except as expressly set forth to the contrary herein, all Rent is payable in lawful money of the United States of America and legal tender for the payment of public and private debts without notice, demand, abatement, offsetdeduction, deduction or claimsetoff in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time. D. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, in advance at Landlord's Address on the Commencement Date exact amount and thereafter on the first scope of which is presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within thirty (1st30) day days after receipt of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, notice from Landlord demanding any Rent that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rentmay be delinquent hereunder, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first upon written demand a late charge equal to five percent (1st5%) day of each month throughout the balance of the Term delinquent installment of Rent. The parties agree that this late charge represents a fair and reasonable estimate of the costs and expenses (including economic losses) that Landlord will incur by reason of late payment by Tenant. The parties further agree that such late charge is Rent and not interest and such assessment does not constitute a lender or borrower/creditor relationship between Landlord and Tenant. In addition, any amount of delinquent Rent due to Landlord shall accrue interest at the Default Rate from the date when such Rent was due until such date that such delinquent Rent is paid, in the event that Tenant fails to pay any such Rent within five (5) days after the date when such Rent was due. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, as Additional Rentnor prevent Landlord from exercising any other rights and remedies available to Landlord. Notwithstanding the foregoing, Tenant's Share Tenant shall be responsible for payment of Operating Expensesall interest, Tax Expenses, Common Area Utility Costslate charges, and Utility Expenses. The term "Rent" whenever used herein refers other costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges the aggregate responsibility of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurshereunder.

Appears in 1 contract

Sources: Lease Agreement (Valley National Bancorp)

Rent. On (a) During the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B Term of this Lease. lease Tenant agrees to pay to Landlord a minimum annual rent (the Base Minimum Rent, without prior notice or demand, abatement, offset, deduction or claim) at the rates set forth below, in monthly installments of one-twelfth thereof payable in advance at Landlord's Address on the Commencement Date and thereafter on upon the first (1st) day of each calendar month throughout the balance of included within the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedwithout set-off, howeverdeduction, that Landlord has actually received the Advance Rent or diminution except as expressly provided herein)in this lease. In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part fraction of a calendar month at the commencement or expiration or and/or termination of the Lease Term term of this lease shall be a prorated amount prorated. All rent and other payments to be made by Tenant to Landlord shall be made payable to IN DESIGN REALTY, herein called Landlord, and sent to Landlord at the place to which notices to Landlord are required to be sent unless Landlord shall direct otherwise by notice to Tenant. (b) All costs, charges, expenses, and adjustments of rent which Tenant assumes, agrees or is obligated to pay to Landlord pursuant to this lease shall be deemed additional rent, and in the event of non-payment thereof, Landlord shall have all the rights and remedies with respect thereto as are provided for herein in case of nonpayment of rent. Tenant shall pay all Minimum Rent and additional rent in lawful money of the Rent for a full calendar month based upon a thirty United States which shall be legal tender in payment of all debts, public and private. (30c) day month. To the extent not already paid as part of the Advance Rent any prorated Minimum Rent shall be paid on payable at the Commencement Datefollowing annual rates (the term “lease year” shall mean the period from the commencement date to the__________ , and any prorated each calendar year thereafter): During the first 2 lease years, Minimum Rent for the final calendar month hereof shall be paid on at the first day rate of $__________________ per annum; or $ _______________ per Month. During the calendar month in 2 through 3 lease years, Minimum Rent shall be at the rate of $________ per annum, which the date constitutes a market standard increase of expiration 4%, or termination occurs.$_________ per Month

Appears in 1 contract

Sources: Lease Agreement

Rent. On (a) Tenant shall pay Monthly Installments of Base Rent, Operating Expenses and sales tax (sometimes referred to collectively as "Rent") in advance on the date that Tenant executes first day of each month of the Term. If the Term shall commence or end on a day other than the first day of a month, the Monthly Installments of Base Rent and Operating Expenses for the first or last partial month shall be prorated on a per diem basis. Upon the execution of this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance pay one Monthly Installment of Base Rent (which shall be applied against the Rent payable and Operating Expenses for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) full month of the Term and a prorated Monthly Installment of Base Rent and Operating Expenses for any partial month which may precede it. (b) Tenant shall pay to Landlord at the time of paying the Rent any excise, sales, use, gross receipts or other taxes (other than a net income or excess profits tax) which may be imposed on or measured by such Rent or may be imposed on or on account of the letting and which Landlord may be required to pay or collect under any law now in effect or hereafter enacted. (c) All costs and expenses which Tenant assumes or agrees to pay and any other sum payable by Tenant pursuant to this Lease shall be deemed additional rent (provided, however, that Landlord has actually received together with Base Rent sometimes referred to as the Advance Rent as provided herein"Rent"). In addition The Rent shall be paid in lawful money of the United States of America ▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇'▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇on or at such other place as Landlord may from time to time designate in writing, without any prior notice or demand therefor and without any deduction or offset whatsoever. (d) If any part of the Base RentRent is not paid within five (5) days after it is due, Tenant shall pay Landlord a late charge in advance on the Commencement Date and thereafter on the first amount of five percent (1st5%) day of each month throughout the balance such payment. The payment by Tenant of the Term of a late charge or interest hereunder shall not prevent nor remedy a default under this Lease. Notwithstanding anything to the contrary contained in this paragraph, as Additional Landlord shall notify Tenant in writing up to two (2) times per year if Tenant's Rent has not been received within five (5) days after Rent is due. In the event Tenant pays Tenant's Rent within five (5) days after Tenant receives Landlord's notice of Tenant's late Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to Landlord shall waive the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty aforementioned five percent (305%) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurslate fee.

Appears in 1 contract

Sources: Office Lease Agreement (Talk Com)

Rent. On the date that Tenant executes this Lease, Tenant (a) Tenant's liability for rent shall deliver commence to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address accrue on the Commencement Date and thereafter on the first (1stas defined in Section 2(b) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedabove, however, provided that Landlord this lease has actually received the Advance Rent as provided herein)not been terminated prior thereto. In addition to the Base Rent, Tenant shall pay Landlord in advance on If the Commencement Date and thereafter begins on a date other than the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at quarter, the commencement or expiration or termination of the Lease Term rent for such partial initial quarter shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent and shall be paid due and payable on the Commencement Date, and any prorated Rent for the final term will be extended to terminate on the last day of the calendar month hereof quarter in which the term would otherwise expire. The annual base rent ("Base Rent") to be paid by Tenant to Landlord shall be paid Two Hundred Thousand Dollars ($200,000.00). Such rental shall be payable in equal quarterly installments of Fifty Thousand Dollars ($50,000.00) on the first day of each calendar quarter during the term hereof. For the period from the Closing Date until the beginning of the first full calendar month quarter, the prorated portion of the prior calendar quarter shall be payable to Landlord on the Closing Date. (1) All payments of rent hereunder shall be made to Landlord as the same become due in which lawful money of the United States. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord and Tenant. (2) Receipt and acceptance by Landlord of any rentals, additional rentals and charges with knowledge of the breach of any covenant or condition of this lease by Tenant shall not be deemed a waiver of such breach. (c) In addition to the payments required herein as Base Rent to the Landlord, the Tenant shall also pay the following: (1) All occupational licenses, other licenses, franchise taxes and business taxes arising from or necessary in the operation of the business to be carried on in the Demised Premises. (2) All utility services provided to the Demised Premises and used by Tenant, including, but not limited to, water, gas, electric, and telephone, as they from time to time shall accrue and be due and payable during the term of this lease. (3) Tenant shall pay to the appropriate governmental agencies all real estate and other ad valorem taxes (including without limitation, special assessments) with respect to the Demised Premises and the improvements thereon during the term of this lease or any extension thereof and upon request shall furnish Landlord a copy of the receipted tax ▇▇▇▇. These taxes include, but are not limited to, any real estate tax, real estate rental receipt or gross receipt tax or any other tax imposed by Federal, state or local taxing or assessing authorities as a substitution for or in addition to the current method of property taxation. It is further understood and agreed that all real estate and ad valorem taxes assessed during the first and last years of the term of this lease shall be prorated and that Tenant shall only be liable for such portions of such taxes assessed for said first and last years as its months of occupancy during any of said years shall bear to the total of twelve (12) months. Tenant shall have the right in its name or in Landlord's name, whichever shall be appropriate, but at its own cost and expense, to file and prosecute applications for reduction of assessed valuation and to institute legal proceedings for the reduction thereof. Notwithstanding such contest, Tenant shall pay all taxes before the Demised Premises, or any portion thereof, may become subject to a sale by governmental authority by reason of the non-payment thereof. Upon the final determination of any such contest by a court or governmental department or authority having final jurisdiction in the matter, Tenant shall pay the same, together with such fines, interest, penalties, cost and charges as may, in accordance with such determination, be payable in connection therewith. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the Landlord or the estate of the Landlord with respect to the Demised Premises. Landlord agrees to promptly deliver copies of all tax notices and tax bills to the Tenant so that Tenant may timely contest any proposed tax increase and promptly pay the tax due so as to take advantage of any discounts allowed for timely payment. (4) It is the intention of the parties that this lease is a "triple-net" lease for all purposes and that Tenant shall bear all expenses associated with the Demised Premises and the lease shall be construed consistent with such intention. (d) All rental due hereunder shall continue to be payable to the date of expiration or termination occursclosing under the Purchase Option Agreement.

Appears in 1 contract

Sources: Lease Agreement (Pharmaceutical Formulations Inc)

Rent. On 4.1. Rental shall accrue hereunder from the Commencement Date and shall be payable at the address of Landlord's Agent or such other place as Landlord shall designate in writing to Tenant. Landlord hereby acknowledges receipt from Tenant of the Prepaid Rent stated in Section 1.1(I) above, to be applied to the first accruing installments of Rent. 4.2. Tenant shall pay to Landlord the Rent in monthly installments in the amounts specified in Section 1.1(I) above, without demand, deduction or setoff. The first monthly installment of Rent shall be due and payable on or before the Commencement Date, and installments in the respective amounts specified in Section 1.1(1) shall be due and payable on or before the first day of each succeeding calendar month during the Lease Term; provided, that if the Commencement Date should fall on a date other than the first day of a calendar month, there shall be due and payable on or before the Commencement Date, as rental for the balance of the calendar month during which the Commencement Date shall fall, a sum equal to that proportion of the Rent specified for the first full calendar month as herein provided, which the number of days from the Commencement Date to the end of the calendar month during which the Commencement Date shall fall bears to the total number of days in such month, and all succeeding installments of Rent shall be payable in the respective amounts specified in Section 1.1(H) on or before the first day of each succeeding calendar month during the Lease Term. 4.3. Tenant agrees to deposit with Landlord on the date hereof the Security Deposit which shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's obligations under this Lease. It being expressly understood and agreed that Tenant executes the Security Deposit is not an advance rental deposit or a measure of Landlord's damages in case of Tenant's default. Upon each occurrence of an Event of Default, Landlord may use all or part of the Security Deposit to pay past due Rent or other payments due Landlord under this Lease, and the cost o an o her damage, injury, expense or liability caused by such Event of Default without prejudice to any other remedy provided herein or provided by law. On demand, Tenant shall deliver to pay Landlord the amount that will restore the Security Deposit to its original executed amount. If Tenant is not then in default hereunder, any remaining balance of the Security Deposit shall be returned by Landlord to Tenant upon termination of this Lease; provided, however, should the Lease terminate, as herein provided, during the middle of any year, Landlord shall be permitted to retain the Security Deposit to secure the payment of any and all amounts of Rent escalations, which are provided for in this Lease, which might be due for the Advance Rent (which Tenant's pro-rata portion of the year that Tenant had occupied the Leased Premises. The Security Deposit shall be applied against promptly returned to Tenant if Landlord determines that no escalations are due by the Rent payable Tenant for such year. If Tenant owes any such escalations, the first month(s) Tenant is required to pay Rent), same shall be deducted from the Security Deposit, and all insurance certificates evidencing the insurance required balance thereof, if any, remitted to be obtained by Tenant the Tenant. 4.4. Should Landlord fail to receive any Rent due under Section 12 and Exhibit B of this Lease. Lease within five (5) days after such payment is due, Tenant agrees to pay Landlord as a late charge, ten percent (10%) of any such payment in order to compensate Landlord for expenses incurred for processing late payments. 4.5. Tenant agrees to furnish to Landlord, concurrently with the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term execution of this Lease, a Lease Guaranty Agreement in the form attached as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term EXHIBIT "RentD" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of executed by the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursGuarantor.

Appears in 1 contract

Sources: Lease Agreement (Liquidmetal Technologies)

Rent. On 3.1 Commencing on the date that Tenant executes this LeaseCommencement Date, Tenant shall deliver will pay to Landlord at Landlord’s address set forth in Section 1.10 or such other place designated by Landlord, in advance on the original executed Leasefirst day of each calendar month without prior demand or notice, the Advance Rent (which shall be applied against the Rent payable rent for the first month(s) Tenant is required to pay Rent), Premises consisting of the Security Deposit, monthly installments of Base Rent set forth in Section 1.7 and all insurance certificates evidencing the insurance required to be obtained by Tenant any other additional payments due under Section 12 and Exhibit B of this Lease. The obligation of Tenant agrees to pay Landlord rent is an independent covenant. Notwithstanding the foregoing, payment of monthly installments of Base Rent shall not commence until the Base RentRent Commencement Date. 3.2 Except as otherwise provided herein, without prior notice this Lease is what is commonly called a “net lease,” it being understood that Landlord shall receive the Base Rent set forth in Paragraph 3.1 free and clear of any and all other impositions, taxes, assessments, liens, charges or demandexpenses of any nature whatsoever in connection with the ownership, abatementmaintenance, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date repair and thereafter on the first (1st) day of each month throughout the balance operation of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein)Premises. In addition to the Base Rent, Tenant shall pay Landlord in advance on to Landlord, or to the Commencement Date other persons or entities respectively entitled, all taxes and thereafter on the first (1st) day impositions, insurance premiums, operating charges, maintenance charges, repairs, and any other charges, costs and expenses which arise or may be contemplated under any provisions of each month throughout the balance of this Lease during the Term related to the Building, except as expressly required to be paid for by Landlord hereunder. All of this Leasesuch charges, as costs and expenses when due, shall constitute additional rent (“Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs”), and Utility Expenses. The term "Rent" whenever used herein refers to upon the aggregate failure of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments any of such costs, charges or expenses, Landlord shall have the same rights and remedies as otherwise provided in this Lease for a period the failure of timeTenant to pay Base Rent. Base Rent, payable under this Lease by Tenant shall be paid without notice or demand and Landlord is required to send notice or demand for any Additional Rent and all other sums payable under this Lease. Except as otherwise provided herein, Base Rent, Additional Rent and all other sums payable under this Lease by Tenant (collectively “Rent”) shall be an absolute net return to Landlord for the Term free from any expense, charge, deduction, offset or counterclaim by reason of any obligation of Landlord or any other reason. 3.3 It is the intention of the parties to this Lease that the obligations of Tenant under this Lease shall be separate and independent covenants and agreements, that the Base Rent, the waiver Additional Rent and all other sums payable by Tenant under this Lease shall continue to be payable in all events and that the obligations of Tenant under this Lease shall continue unaffected, unless the requirement to pay rental payments or perform the same shall only apply have been terminated pursuant to an express provision of this Lease. 3.4 Tenant acknowledges that late payment of rent (Base Rent or additional rental) involves additional costs to Landlord for collection and bookkeeping, and, accordingly, if rent (Base Rent or additional rental) due hereunder is not paid by the 10th day after it is due, then Tenant shall pay upon demand, as additional rent, a late charge equal to 5% of the amount required to be paid. The payment of a late charge shall not be construed to extend the date for payment of any sums required to be paid by Tenant or to relieve Tenant of its obligation to pay all such sums at the time or times herein when due, and neither the demand for, nor collection by Landlord, of such late charge shall be construed as a waiver of the Base Rent. The Rent for any fractional part Landlord’s rights under Section 23 of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursthis Lease.

Appears in 1 contract

Sources: Lease (Alliance Laundry Corp)

Rent. On the date that a. Tenant's liability for rent shall commence to accrue on February 15, 1999. The rent to be paid by Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable $6,500.00 per month for the first month(sthree (3) Tenant is required to pay Rent)months of the term, $8,500.00 per month for the Security Depositnext nine (9) months of the term, $9,000.00 per month for the next twenty-four (24) months of the term and all insurance certificates evidencing $9,500.00 per month for the insurance required to remaining months of the term, plus applicable sales taxes. Such rent shall be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, payable in advance at Landlord's Address in monthly installments on the Commencement Date and thereafter on the first (1st) fifteenth day of each calendar month throughout during the balance tern hereof. Landlord agrees to assign the rents and lease (which is on a month to month basis) from Shoe Warehouse effective February 15. 1999. b. All payments of rent hereunder shall be made to Landlord as the same become due in lawful money of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedUnited States, however, that at such places as hereinafter may be designated. Nothing contained in this lease shall be construed to be or create a partnership or joint venture between Landlord has actually received the Advance Rent as provided herein). and Tenant. c. In addition to the Base Rentpayments required herein as rent to the Landlord, the Tenant shall also pay the following: (1) All occupational licenses and other licenses necessary in the operation of the business to be carried on in the Demised Premises. (2) All utility services provided to the Demised Premises and used by Tenant, including, but not limited to, water, gas, electric, and telephone, as they from time to time shall accrue and be due and payable during the term of this lease. (3) After February 15, 1999, Tenant shall pay to the appropriate governmental agencies ad valorem taxes with respect to the Demised Premises and the improvements thereon during the term of this lease or any extension thereof. It is further understood and agreed that all ad valorem taxes assessed during the term of this lease shall be prorated and that Tenant shall only be liable for such portions of such taxes assessed for said first and last years as its months of occupancy during any of said years shall bear to the total of twelve (12) months. Should Tenant fail to pay any tax when due and payable, Landlord may, if Landlord so desires, pay the same and the amount together with any penalties which Landlord may have paid, shall immediately become due and payable to Landlord as additional rent, Tenant shall have the right in advance on its name or in Landlord's name, whichever shall be appropriate, but at its own cost and expense, to file and prosecute applications for reduction of assessed valuation and to institute legal proceedings for the Commencement Date and thereafter on reduction thereof. In no event shall Tenant be liable for payment of any income, estate or inheritance taxes imposed upon the first (1st) day of each month throughout Landlord or the balance estate of the Term Landlord with respect to the Demised Premises. Landlord agrees to promptly deliver copies of all tax notices and tax bills to the Tenant so that Tenant may timely contest any proposed tax increase and promptly pay the tax due as to take advantage of any discounts allowed for timely payment. In the event of any special assessment with respect to the Demised Premises levied during the term of this Lease, as Additional Rentthe Tenant shall have no obligation with respect to payment of such assessment and Landlord shall be obligated to pay same. Landlord shall use reasonable efforts, if requested by Tenant's Share , to obtain from the taxing authorities a separate assessment for the Demised Premises if said premises are part of Operating Expensesa larger parcel. If such separate assessment shall be obtained, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers the real estate taxes payable by Tenant shall be paid by Tenant directly to the aggregate of all these amountstaxing authority. If Landlord permits Tenant shall be unable to occupy obtain such separate assessment, and the tax ▇▇▇▇ covering the Demised Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply include property in addition to the waiver Demised Premises, Tenant shall pay its proportionate share of said tax ▇▇▇▇ to Landlord, which proportionate share shall equal the Base Rent. The Rent for any fractional part of a calendar month at product obtained by multiplying the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for tax ▇▇▇▇ by a full calendar month based upon a fraction, the numerator of which is the acreage contained within the Demised Premises and the denominator of which is the total land owned by the Landlord and assessed in the tax ▇▇▇▇. Tenant shall pay its share by the later of (i) thirty (30) day month. To the extent not already paid as part days after Landlord notifies Tenant of the Advance Rent any prorated Rent shall be paid on the Commencement Date, amount thereof and any prorated Rent for the final calendar month hereof shall be paid on the first day furnishes Tenant with a copy of the calendar month in tax ▇▇▇▇ and the calculations by which Tenant's share has been determined, or (ii) ten (10) days prior to the due date of expiration the tax, Landlord shall pay said tax ▇▇▇▇ when due. In no event shall Tenant be liable for interest or termination occurspenalties, if Tenant shall pay such taxes within such period. Landlord will furnish Tenant with a copy of the receipted tax ▇▇▇▇ promptly after demand therefor.

Appears in 1 contract

Sources: Lease Agreement (American Marine Recreation Inc)

Rent. On Tenant shall pay to Landlord at its offices in Louisville, Kentucky, or at such other place as it may advise in writing, in advance, on the date that Tenant executes tenth (10th) day of each calendar month, without notice, demand, offset or deduction, in lawful money of the United States of America, during and throughout the term of this Lease, Tenant shall deliver to Landlord the original executed Leasebase rent, the Advance Rent (which shall be applied against payable in monthly installments of Fifty Six Thousand Two Hundred Fifty Dollars ($56,250.00) (the "Base Rent"). Commencing August 1, 1996 (and increasing on each anniversary thereof during the Term hereof), Tenant shall also pay on a monthly basis to Landlord, additional rent ("Additional Rent"), which will be an annual amount equal to the Base Rent times three percent (3%) times the number of years the Lease has at that time been in effect on a non-compounded basis, i.e., year two's rent shall be 103% of the Base Rent, year two shall be 106%, year 10 shall be 130%, etc. Base Rent together with Additional Rent may be referred to herein as "Total Rent." If the Landlord does not receive from Tenant any payment of Base Rent or Additional Rent within ten (10) days after such payment is due, Landlord, at its option, may charge Tenant a late charge and handling fee equal to five percent (5%) of such rental payment, and such late charge and handling fee shall be due and payable by Tenant to Landlord immediately upon delivery of written notice to Tenant. In addition, if any check of Tenant's is returned to Landlord unpaid, Tenant shall reimburse Landlord for all charges associated with such returned check and Landlord, at its option, in addition to all other rights hereunder, may thereafter require that Tenant pay the Rent and any other charges payable for the first month(s) Tenant is required to pay Rent)hereunder by a certified or cashier's check. If Landlord directs, the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord such portion of the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Total Rent directly to LandLord's mortgagee as may be necessary to service Landlord's Address on the Commencement Date mortgage indebtedness, if any, and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance such Total Rent as provided herein). In addition remitted paid directly to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursLandlord.

Appears in 1 contract

Sources: Lease Agreement (Centennial Healthcare Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(sa) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B Commencing as of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and continuing thereafter on the first (1st1/st/) day of each and every month throughout during the balance Term, Sublessee shall pay to Sublessor in advance $18,859.50 ($4.50 per square foot) as rent for the Subleased Premises (the "Rent"). Rent for any period less than a calendar month shall be a pro rata portion of the Term monthly installment. Rent shall be payable to Sublessor, in advance, in lawful money of the Lease beginning United States, without prior notice, demand, or offset (except as permitted in the second (2nd) month of the Term of the Lease (providedMaster Lease), however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on or before the first (1st) day of each calendar month throughout during the balance of Term, at the Term of this Lease, address set forth herein below or at such other address as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesmay be designated in writing from time to time. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The first month's Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent payable hereunder shall be paid on by Sublessee upon the Commencement Date. In addition, upon the Commencement Date, and any prorated Rent Sublessee shall pay Sublessor the sum of Twenty Thousand Dollars ($20,000) that shall be held as a security deposit by Sublessor. (b) Sublessor shall be responsible for the final calendar month hereof payment of property taxes, property insurance (Building only), common area maintenance, janitorial (office area and lavatories in the Subleased Premises, only), HVAC (unless such services are requested by Sublessee during times when such services are not required by Sublessor), utilities on the Premises, property dues, elevator maintenance, sprinklers, security, garbage, pest control, earthquake insurance, water treatment, HVAC maintenance, landscaping and parking lot maintenance, autoclave and cagewasher preventive maintenance, or any other costs that Sublessor is required to pay under the Master Lease pursuant to its terms. Anything in this Sublease to the contrary notwithstanding, Sublessor shall not be responsible for any other services required by Sublessee. Other services that are required by Sublessee may be negotiated between Sublessor and Sublessee and, if appropriate, billed to Sublessee at Sublessor's actual cost for such service. (c) In the event of any casualty or condemnation affecting the Subleased Premises, Rent payable by Sublessee shall be paid on abated hereunder, but only to the first day extent that Rent under the Master Lease is abated with respect to the Subleased Premises, and Sublessee waives any right to terminate the Sublease in connection with such casualty or condemnation except to the extent the Master Lease is also terminated as to the Subleased Premises or any material portion thereof. In the event of the calendar month termination of Sublessor's interest as "Tenant" under the Master Lease for any reason, then this Sublease shall terminate coincidentally therewith without such termination constituting a default of Sublessor or Sublessee. In the event of any taking, Sublessee shall have no claim to any award. In the event of any casualty, Sublessor shall perform such restoration as is required of Sublessor pursuant to the Master Lease and, to the extent such casualty is the result of Sublessee's action or inaction, Sublessee shall restore the Subleased Premises as soon as reasonably practicable. (d) Anything in which this Sublease to the date contrary notwithstanding, Sublessee shall be liable for, and shall pay and deliver evidence of expiration payment prior to delinquency, all taxes levied against any personal property, fixtures, machinery, equipment, apparatus, systems and appurtenances or termination occursimprovements placed by or on behalf of Sublessee in, about, upon or in connection with the Subleased Premises.

Appears in 1 contract

Sources: Sublease (Tularik Inc)

Rent. On the date that Tenant executes this Lease, (a) Tenant shall deliver pay to Landlord Adjusted Rental, which is the original executed Leasesum of the monthly Basic Rental, the Advance Rent monthly Excess Operating Expenses and the monthly Excess Taxes (which as defined in the Basic Lease Information), as estimated by Landlord from time to time, in monthly installments in advance on the fifth day of each month in lawful money of the United States to Landlord at its address set forth above (or such other address as Landlord shall designate in writing to Tenant) without notice or demand and without any abatement, deduction or set-off, for each month of the entire Term. One such monthly installment, shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B to Landlord upon the execution of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term A like monthly installment shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, due and any prorated Rent for the final calendar month hereof shall be paid payable without demand beginning on the first day of the calendar month immediately following the month in which the date Commencement Date occurs and continuing thereafter on or before the first day of expiration each succeeding calendar month during the Lease Term. Rent for any fractional month at the beginning of the Lease Term shall be prorated based on one-three hundred sixty-fifth (1/365) of the current annual Adjusted Rental for each day of the partial month this Lease is in effect, and shall be due and payable on or termination before the first day of the calendar month immediately following the month in which the Commencement Date occurs. (b) During the Term of this Lease, the Basic Rental shall be increased at the beginning of each lease year as outlined above in the Basic Lease Terms. The dates described in this Section for computing the adjustment in Basic Rental are hereinafter sometimes referred to collectively as “Rental Adjustment Dates” and singularly as a “Rental Adjustment Date”. After each Rental Adjustment Date, the rent as increased shall be deemed the Basic Rental for all purposes of this Lease. (c) If all of any sum due under this Lease is not received by its due date, then Tenant, to the extent permitted by law, shall pay, in addition to the sum owed, a late payment charge equal to five percent (5%) of the sum (or portion thereof) which is overdue. If a check remitted to pay any sum due to Landlord hereunder shall not be honored upon presentment for payment, then Tenant in addition to the amount owed, shall pay to Landlord on demand a fee of five percent (5%) of the amount owed. Following the dishonor of any check presented for payment, Landlord may require all further payments to be made hereunder to be made by certified check or money order. Also, if Landlord does not receive any Adjusted Rental within thirty (30) days after the due date thereof, or fails to pay any sum (other than Adjusted Rental) which at any time becomes due to Landlord under any provision of this Lease as and when the same becomes due hereunder, then, in either such event, Tenant shall pay Landlord interest on such overdue amounts from the due date thereof until paid at an annual rate (the “Past Due Rate”) which equals the lesser of (i) eighteen percent ( 18%) or (ii) the highest rate then permitted by law. All late payment charges and fees for dishonored checks are to reimburse Landlord for additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late or dishonored payments. Provision for such late charge, interest or fee for dishonor shall be in addition to all other rights and remedies available to Landlord hereunder or at law or in equity and shall not be construed as liquidated damages or limiting Landlord's remedies in any manner. (d) Tenant's covenants and obligations to pay Adjusted Rental and all additional rental (collectively, the “Rent”) hereunder are unconditional and independent of any other covenant or condition imposed on either Landlord or Tenant, whether under this Lease, at law or in equity.

Appears in 1 contract

Sources: Office Building Lease Agreement (Imergent Inc)

Rent. On 3.01. Tenant shall pay the date Fixed Rent in equal monthly installments in advance on the first day of each and every calendar month during the Term (except that Tenant executes shall pay, upon the execution and delivery of this Lease, Tenant shall deliver to Landlord the original executed LeaseLease by Tenant, the Advance Rent (which shall Rent, to be applied against the first installment or installments of Fixed Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant becoming due under Section 12 and Exhibit B of this Lease). Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on If the Commencement Date and thereafter occurs on a day other than the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of timecalendar month, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Fixed Rent for any fractional part of a the partial calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day monthprorated. 3.02. To the extent not already paid as part of the Advance Rent any prorated The Rent shall be paid on in lawful money of the Commencement DateUnited States to Landlord at its office, or such other place, or Landlord's agent, as Landlord shall designate by notice to Tenant. Tenant shall pay the Rent promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as may be expressly provided in this Lease. If Tenant makes any payment to Landlord by check, same shall be by check of Tenant and Landlord shall not be required to accept the check of any other Person, and any prorated Rent for the final calendar month hereof check received by Landlord shall be deemed received subject to collection. If any check is mailed by Tenant, Tenant shall post such check in sufficient time prior to the date when payment is due so that such check will be received by Landlord on or before the date when payment is due. Tenant shall assume the risk of lateness or failure of delivery of the mails, and no lateness or failure of the mails will excuse Tenant from its obligation to have made the payment in question when required under this Lease. 3.03. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct Rent 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 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 or at law provided. 3.04. If Tenant is in arrears in payment of Rent, Tenant waives Tenant's right, if any, to designate the items to which any payments made by Tenant are to be credited, and Landlord may apply any payments made by Tenant to such items as Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the items to which any such payments shall be credited. 3.05. In the event that any installment of Rent due hereunder shall be overdue for five (5) days or more, a "Late Charge" equal to four percent (4%) or the maximum rate permitted by law, whichever is less ("Late Payment Rate") for Rent so overdue may be charged by Landlord for each month or part thereof that the same remains overdue (so that, for example, in the case of a payment of Fixed Rent which has not been paid on within the applicable grace period, the Late Charge shall be deemed imposed as of the first day of the month to which such payment relates). In the event that any check tendered by Tenant to Landlord is returned for insufficient funds, Tenant shall pay to Landlord, in addition to the charge imposed by the preceding sentence, a fee of $25.00. Any such Late Charges if not previously paid shall, at the option of the Landlord, be added to and become part of the next succeeding Rent payment to be made hereunder. Notwithstanding any of the foregoing to the contrary, as to the original named Tenant and any Permitted Assignee(s), the Late Charge shall be waived once per calendar month in which the date year provided payment is received by Landlord within ten (10) days of expiration or termination occursits due date.

Appears in 1 contract

Sources: Lease Agreement (Childrens Place Retail Stores Inc)

Rent. On Section 3(a) is deleted in its entirety and replaced with the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent following: (which shall be applied against the Rent payable for the first month(sa) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay to Landlord as and for rent for the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on Facilities the Commencement Date sum of NINE HUNDRED THOUSAND and thereafter on the first NO/100 DOLLARS (1st$900,000.00) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term per annum which sum shall be payable on a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent semi-annual basis and which shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on due upon the first day of the calendar month term hereof and thereafter upon the first day of each semi-annual period of the term of this Lease. Said rent shall be payable in which cash or by wire transfer at Landlord’s address given hereinbelow or at such other place as Landlord may, from time to time, designate in writing. In the event Tenant shall fail to pay Landlord any part of the aforesaid rental or any other sum required herein to be paid to Landlord, within five (5) days of the due date thereof, Tenant shall pay to Landlord a delinquent payment charge from the expiration of expiration such five (5) day period until the rental or termination occursother required sums are fully paid at the rate of 18% per annum or at the highest lawful contract rate allowed by the State of Ohio, whichever is lower.” This Second Amendment modifies the Lease to the extent stated herein only. In any case of inconsistency between the Lease and this Second Amendment, this Second Amendment shall control. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Lease and all other provisions and covenants of the Lease shall remain in full force and effect. The Lease, the First Amendment and this Second Amendment represent the entire agreement of the parties as to the subject matter hereof and neither party has made or relied upon any representations, warranties, promises, covenants or undertakings with respect to such subject matter other than those expressly set forth herein.

Appears in 1 contract

Sources: Lease and Sublease (Andersons, Inc.)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable ▇▇▇▇▇▇’s monthly rent for the first month(s) Apartment is $ Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to must pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claimrent, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedadvance, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of each month either at Landlord’s office or at another place that Landlord may inform ▇▇▇▇▇▇ of by written notice. Tenant must pay the calendar month first month’s rent to Landlord when Tenant signs the Lease. Tenant shall pay the rent as it become due, without any deductions, unless permitted by law. If rent is not received within 30 days of the due date, Tenant shall pay an additional $50.00 to the Landlord as a late charge. If Tenant makes any payments by check and such check is returned unpaid to Landlord for any reason, Landlord shall charge Tenant twice the amount imposed upon Landlord by its bank or $25.00, whichever is more, as permitted by law, which charge shall constitute additional rent under this Lease and shall be due and payable on demand by Landlord or with the next installment of rent, whichever happens first. After the second (2) such occurrence, only cashier's check or certified funds will be accepted until otherwise instructed by the Landlord. For the purpose of this Lease, no rent shall in which any event be deemed paid until such payment is actually received, accepted and collected by Landlord. Tenant acknowledges that the date Landlord may not fully scrutinize and examine each check to see that the check submitted is the check of expiration Tenant’s. Accordingly, in the event a third party check is given for rental due and is accepted by Landlord, such acceptance shall not constitute a waiver of Landlord's rights nor confer any rights upon the third party nor entitle the third party to make a claim as a tenant or termination occursright to occupy the Premises, or create an Landlord-tenant relationship. Landlord may report unpaid rent and damages to a credit bureau for Tenant’s credit file. (1) Writings, notations or statements written on the front or back of any check, money order or other monetary instrument given to Landlord shall not be deemed a part of this lease and shall not be binding on Landlord. ▇▇▇▇▇▇▇▇’s acceptance, endorsement, deposit or negotiation of the said check, money order or other monetary instrument shall not be deemed an acceptance of the conditions on same and Landlord may accept same as if the said writing, statement or notation did not exist.

Appears in 1 contract

Sources: Apartment Lease

Rent. On The "minimum" or "base" rent payable by tenants under the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable Leases for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the Closing occurs shall be prorated on the basis of the number of days of such month each Property will have been owned by Purchaser and the applicable Seller, respectively. However, there shall be no proration of any such rent which is delinquent as of the Closing Date. Rather, Purchaser shall cause any such delinquent rent for the period prior to Closing to be remitted to the applicable Seller if, as and when collected. At Closing, each Seller shall deliver to Purchaser a schedule of all such delinquent rent. Following the Closing, Purchaser shall use diligent efforts to collect such delinquent rent on behalf of such Seller by including the amount of delinquent rent in all bills thereafter submitted to the tenants in question after the Closing; provided that, Purchaser’s obligation hereunder to collect delinquent rents shall terminate upon the earlier of (i) the subject tenant vacating the Property, or (ii) the date which is six (6) months following the Effective Date. All amounts collected by Purchaser under the Leases after Closing shall be applied first to delinquent rent and delinquent Tenant Reimbursements (as defined in Section 4.4 below) for the rental period following the Closing Date, second to such amounts for the month in which the Closing shall occur, and third to such amounts accruing prior to the Closing Date. Purchaser shall promptly deliver to the applicable Seller a copy of expiration each such ▇▇▇▇ submitted to tenants, shall keep such Seller reasonably informed as to the status of Purchaser’s collection efforts with respect to such tenants after the Closing and shall not compromise or termination occurssettle any such rent without such Seller’s prior written consent, which shall not be unreasonably withheld. Any applicable Seller shall be entitled to pursue any and all remedies against any delinquent tenant at any time; provided that Sellers shall have no right to terminate any Lease or interfere with any tenant’s occupancy under any Lease in connection therewith.

Appears in 1 contract

Sources: Real Estate Sale Agreement (KBS Strategic Opportunity REIT, Inc.)

Rent. The total rent that the Tenants agree to pay to the Landlord for the premises, for the term, is $ This total rent is due upon execution of this lease. However, for the convenience of the Tenants, this rent shall be paid by the Tenants to the Landlord in installments as outlined in Addendum A – Payment Schedule. Acceptance of partial payments from some Tenants does not relieve such Tenants from their liability for the entire rents or as to shares owned by other joint and several Tenants. On execution of this lease, Tenants agree to pay to the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Leasesecurity deposit unless otherwise agreed in writing; said payment to be considered a reservation fee due on execution until occupancy. A late charge of 5% of the overdue rent will be assessed on the second calendar day of the month if any rent installment is not received by the Landlord on or before the second calendar day of the month. An additional 5% of the outstanding balance will be assessed if the rent remains unpaid after the seventh calendar day of the month. Said late charges shall become due and payable immediately upon notice, and if not so paid, may be deducted by the Landlord from the security deposit as added rent. A charge of $50.00 will be made by the Landlord for each check of the Tenants returned for any reason. If Tenants make payment of any rent installment in an amount less than that due, Landlord may accept same, but shall not be bound by any restrictive endorsement, or any statement, or otherwise to the effect that such payment is made in full satisfaction of the amounts then due. Notwithstanding such acceptance by the Landlord, the Advance Rent (which Landlord may avail himself of any other legal remedies he may have. If Tenant makes any payments hereunder, and then fails to occupy the premises or fails to comply with any other term or requirement of this agreement, Landlord may keep any such payments as partial liquidated damages. Notwithstanding retention of such payments as liquidated damages, the Landlord shall be applied have, in addition, any other rights afforded Landlord under this lease against the Rent payable Tenant for the first month(s) Tenant is required to pay Rent)breach of this lease. In addition, the Security Deposit, security and all insurance certificates evidencing the insurance damage deposit are required to be obtained by Tenant under Section 12 and Exhibit B paid at the time of execution of this Lease. Tenant agrees lease and are not paid at such time, or if such payments are to pay be made pursuant to an agreed upon schedule (Addendum A), and such payments are not made at the time set forth in such schedule, then the Landlord reserves the Base Rentright at any time after such time by which such payments should have been made, without prior to give Tenant(s), or any of the Tenant(s), five days written notice, by certified mail, return receipt, that if the deficiencies in these amounts are not paid in full and received by the Landlord by the end of such five day notice or demandperiod, abatement, offset, deduction or claimthen the Landlord may rent the demised premises to others and may retain any amounts paid to that date as partial liquidated damages and, in advance at Landlord's Address on addition, may seek to enforce any other rights the Commencement Date and thereafter on Landlord may have against the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to may, in addition, terminate the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurslease.

Appears in 1 contract

Sources: Lease Agreement

Rent. On the date that Tenant executes this Lease, Tenant The rents shall deliver to Landlord the original executed Lease, the Advance be and consist of Base Rent (which shall be applied against the herein called "BASE RENT") and Additional Rent payable for the first month(s) Tenant is required to pay Rent(herein called "ADDITIONAL RENT"), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B . For purposes of this Lease. Tenant agrees Lease Agreement, Base Rent and Additional Rent are referred to pay Landlord the collectively as "RENT." Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated amount indicated in the Basic Lease Information. Base Rent for the final calendar month hereof shall be paid payable in equal monthly installments in advance on the first day of the each and every calendar month during the term of this Lease (except to the extent otherwise specifically provided elsewhere in which this Lease. Payment of Base Rent and Additional Rent for the 5th Floor of the Premises shall commence on the 5th Floor Commencement Date and shall be equal to the 5th Floor rentable square feet multiplied by the (i) Base Rent per rentable square foot set forth in the Basic Lease Information, plus (ii) Additional Rent per rentable square foot as set forth in Section 4.1. Payment of Base Rent and Additional Rent for the 6th Floor of the Premises shall commence on the 6th Floor Commencement Date and shall be equal to the 6th Floor rentable square feet multiplied by the (i) Base Rent per rentable square foot set forth in the Basic Lease Information, plus (ii) Additional Rent per rentable square foot as set forth in Section 4.1 per rentable square foot set forth in the Basic Lease Information. Payment of Base Rent for the 15th Floor of the Premises shall commence on the 15th Floor Commencement Date and shall be equal to the 15th Floor rentable square feet multiplied by the Base Rent per rentable square foot set forth in the Basic Lease Information. Payment of Additional Rent for the 15th Floor of the Premises shall commence on the date Tenant occupies the 5th Floor for the operation of expiration business and shall be equal to Additional Rent as set forth in Section 4.1 per rentable square foot set forth in the Basic Lease Information. Additional Rent shall consist of all other sums of money as shall become due from and payable by Tenant to Landlord hereunder. All Rent shall be paid in lawful money of the United States of America to Landlord at its office or termination occurssuch other place, as Landlord shall designate by notice to Tenant. Tenant shall pay the Base Rent and Additional Rent promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as expressly provided in this Lease. If the Commencement Date for any floor occurs on a day other than the first day of a calendar month, or the Expiration Date occurs on a day other than the last day of a calendar month, the Base Rent for such floor for that partial calendar month shall be prorated on a daily basis.

Appears in 1 contract

Sources: Lease Agreement (Webtrends Corp)

Rent. On (a) The basic rent upon the date that Tenant executes this Lease, Tenant shall deliver commencement of the Sublease (the “Basic Rent”) due hereunder from Subtenant to Landlord the original executed Lease, the Advance Rent (which Sublandlord shall be applied against the Rent One Hundred and Nine Thousand, One Hundred and Sixty Five Dollars ($109,165) per annum, payable for in equal monthly installments of Nine Thousand and Ninety Seven Dollars and Ten Cents ($9,097.08), each such installment being payable in advance on or before the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each calendar month throughout the balance of Term. In the event the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid Sublease starts other than on the first day of a month, the calendar Basic Rent for such partial month shall be prorated and calculated at a daily rate. On the first anniversary of the Sublease Commencement Date and continuing on each anniversary thereafter, Subtenant’s Basic Rent shall be increased by four and one half percent (4.5%) There shall be no other escalations or pass-throughs to Subtenant during the Sublease Term. (b) Basic Rent shall include, and Subtenant shall not be separately responsible for, the Additional Rent (as defined in which Section 3 of the Lease) or other operating expenses or real estate taxes due under the Lease. (c) All rent due and payable by Subtenant under this Sublease shall be made payable to Sublandlord and shall be delivered to its offices or to such other place as Sublandlord may designate by written notice to Subtenant. All such rent shall be payable without notice, demand, deduction, counterclaim or offset. Notwithstanding any provision of this Sublease, Sublandlord shall continue to pay to Landlord all rent as and when due under the Lease (including, without limitation, all rent under the Lease for the Sublet Premises). (d) Notwithstanding anything herein to the contrary, in the event of a default by Sublandlord under the Lease, Sublandlord hereby irrevocably authorizes and directs Subtenant to pay to Landlord, upon demand and notice from Landlord of the right to receive such rent and other amounts, all of the rent and other amounts payable and hereafter becoming payable under this Sublease. Subtenant shall rely upon such demand and notice, and Sublandlord shall have no right or claim against Subtenant for any such rent and other amounts paid to Landlord pursuant thereto. In no event shall Landlord be obligated to make such demand for direct payment of such amounts from Subtenant. (e) If Subtenant fails to pay rent hereunder within five (5) days after such rent becomes due and payable, Subtenant shall pay to Sublandlord a late charge of five percent (5%) of the amount of such overdue rent. In addition, any such late rent payment shall bear interest from the date such rent became due and payable to the date of payment thereof by Subtenant at the rate of 5% per annum. (f) Simultaneously with the execution of this Sublease, Subtenant shall deposit with Sublandlord, in the form of cash, a security deposit in the amount of $9,097.08 (the “Security Deposit”), which shall be held by Sublandlord without obligation for interest, as security, for the performance of Subtenant’s obligations and covenants under this Sublease. It is expressly understood and agreed that such deposit is not an advance rental deposit or a measure of Sublandlord’s damages in case of an event of default by Subtenant. If an event of default by Subtenant shall occur or if Subtenant fails to surrender the Sublet Premises in the condition required by this Sublease, Sublandlord shall have the right (but not the obligation), and without prejudice to any other remedy which Sublandlord may have on account thereof, to apply all or any portion of the Security Deposit to cure such default or to remedy the condition of the Sublet Premises. If Sublandlord so applies the Security Deposit or any portion thereof before the expiration date or earlier termination occursof this Sublease, Subtenant shall deposit with Sublandlord, upon demand, the amount necessary to restore the Security Deposit to its original amount. Although the Security Deposit shall be deemed the property of Sublandlord, any remaining balance of the Security Deposit shall be returned to Subtenant within thirty (30) days after the Expiration Date or earlier termination of this Sublease that all of Subtenant’s obligations under this Sublease have been fulfilled. Sublandlord shall conduct a “Post Move Out Inspection” of the Sublet Premises within fifteen (15) days after the Expiration Date or earlier termination of this Sublease. Notwithstanding anything herein to the contrary, Landlord shall not be responsible in any way for maintaining, returning or applying the Security Deposit hereunder and Subtenant expressly waives any claims against Landlord regarding the Security Deposit. (g) To assist Subtenant with offsetting relocation, construction and other related expenses, Sublandlord will fully a▇▇▇▇ the first two (2) months rent; therefore, rent commencement will begin September 1, 2005.

Appears in 1 contract

Sources: Sublease Agreement (Global Secure Corp.)

Rent. On Tenant shall pay to Landlord the date that Base Rent, Real Property Taxes (as herein defined) and Operating Expenses (as herein defined), without, except as otherwise set forth herein, notice, demand, offset or deduction, in advance, on the first day of each calendar month. All Rent and payments required to be paid by Tenant executes to Landlord shall be made by Tenant payable to the entity and sent to the address Landlord designates and shall be made by good and sufficient check payable in United States of America currency or by other means acceptable to Landlord or by Electronic Fund Transfer of immediately available federal funds before 5:00 p.m. Eastern Time. Upon the execution of this Lease, Tenant shall deliver pay to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay month’s Base Rent), the Security DepositAmount, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B first monthly installment of this Leaseestimated Operating Expenses (i.e., $62,100.56) (the “Pre-Payment”). Tenant agrees to pay Landlord If the Base Rent, without prior notice Term commences (or demand, abatement, offset, deduction or claim, in advance at Landlord's Address ends) on the Commencement Date and thereafter on a date other than the first (1stor last) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provideda month, however, that Landlord has actually received the Advance Base Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance be prorated on the Commencement Date and thereafter on the first (1st) day basis of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance All sums other than Base Rent any prorated Rent which Tenant is obligated to pay under this Lease shall be paid on deemed to be additional rent due hereunder (“Additional Rent”), whether or not such sums are designated Additional Rent. The term “Rent” means the Commencement DateBase Rent and all Additional Rent payable hereunder. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to ▇▇▇▇▇, and reduce, or set-off any prorated rent due hereunder except as may be expressly provided in this Lease. If Tenant is delinquent in any monthly installment of Base Rent or Additional Rent for more than five (5) days, Tenant shall pay to Landlord on demand a late charge equal to eight percent (8%) of such delinquent sum and such delinquent sum shall also bear interest from the final calendar month hereof date such amount was due until paid in full at the lesser of (i) ten percent (10%) per annum; or (ii) at the maximum rate permitted by law (“Applicable Interest Rate”). The provision for such late charge shall be paid on the first day in addition to all of the calendar month in which the date of expiration Landlord’s other rights and remedies hereunder or termination occursat law and shall not be construed as a penalty.

Appears in 1 contract

Sources: Multi Tenant Industrial Triple Net Lease (Farmmi, Inc.)

Rent. On the date that Tenant executes this Lease, (a) Tenant shall deliver pay to Landlord Landlord, as annual rent for the original executed LeaseLeased Premises during the Term, the Advance Rent amounts determined in accordance with the schedule set forth in Exhibit "D" attached hereto and made a part hereof (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay "Basic Rent"), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter commencing on the first (1st) day of the first month next following the date hereof and continuing on the same day of each month throughout the balance of thereafter during the Term of (the Lease beginning said days being called the second (2nd) month of the Term of the Lease (provided"Basic Rent Payment Dates"), however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant and shall pay the same at Landlord's address set forth above, or at such other places or to such other Persons as Landlord from time to time may designate upon fifteen (15) days prior written notice to Tenant. Each rental payment shall be made, at Landlord's sole option and upon at least 10 days prior written notice from Landlord to Tenant, (i) by a check hand delivered to Landlord at least five (5) business days before the applicable Basic Rent Payment Date or mailed to Landlord at least ten (10) days before that date or (ii) in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month federal or other immediately available funds which at the commencement or expiration or termination time of the Lease Term such payment shall be a prorated amount legal tender for the payment of public or private debts in the Rent for a full calendar month based upon a thirty (30) day monthUnited States of America. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Pro rata Basic Rent for the final calendar period from the date hereof through the last day of the month hereof shall be paid on the first day date hereof. Landlord may, at Landlord's option, by at least fifteen (15) days prior written notice to Tenant, require Tenant to pay installments of Basic Rent directly to one or more Persons in addition to Landlord, in such proportions as Landlord may select; and Tenant shall make such "split" payments of Basic Rent in the amounts, to the payees and in the manner specified by Landlord in any such notice. (b) Tenant shall pay and discharge when the same shall become due, as additional rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added for non-payment or late payment thereof. After the date an installment of Basic Rent is due and not paid or after the occurrence of any Event of Default (other than non-payment of Basic Rent) Tenant shall pay to Landlord on demand, as additional rent, 4% of the calendar month in which amount of such installment. From the date of expiration occurrence of an Event of Default until such Event of Default is cured, Tenant shall pay to Landlord, on demand, a additional rent, a sum equal to any additional sums (including any late charge or termination occursdefault interest) which might be payable by Landlord to any Lender under any Note occasioned by non-payment or late payment of Basic Rent or by the occurrence of an Event of Default under this Lease. In addition, Tenant shall pay to Landlord on demand, as additional rent, interest at the rate (the "Default Rate") of four percent (4%) over the Prime Rate per annum on the following sums until paid in full: (i) all overdue installments of Basic Rent in excess of payments due under the Note for the same period from the respective due dates thereof, (ii) all overdue amounts of additional rent relating to obligations which Landlord shall have paid on behalf of Tenant, from the date of payment thereof by Landlord, and (iii) on all other overdue amounts of additional rent from the date Landlord demands payment. All the foregoing additional rent is referred to herein as "Additional Rent". In the event of any failure by Tenant to pay or (f) regarding notice and grace periods need not be satisfied prior to the imposition of Additional Rent under this Paragraph 6(b).

Appears in 1 contract

Sources: Lease Agreement (High Voltage Engineering Corp)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay RentSECTION 1. See pages 1(g), the Security Deposit, 1(h) and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein1(i). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. SECTION 2. The term "Rent" whenever gross sales", as used herein refers to herein, shall mean the aggregate total amount in dollars of the actual sales price, whether for cash or on credit or partly for cash and partly on credit, of all these amountssales of merchandise and services and all other receipts of business conducted in or from the premises, including all mail or telephone orders received or filled at the premises, and including all deposits not refunded to purchasers, orders taken, although said orders may be filled elsewhere, and sales by any sublessee, concessionaire or licensee or otherwise in said premises. If Landlord permits Tenant to occupy No deduction shall be allowed for uncollected or uncollectible credit accounts. Gross sales shall not, however, include any sums collected and paid out for any sales or excise tax imposed by any duly constituted governmental authority, nor shall it include the Premises without requiring Tenant to pay rental payments exchange of merchandise between the store of Tenant, if any, where such exchange of goods or merchandise is made solely for a period of time, the waiver convenient operation of the requirement to pay rental payments shall only apply to business of Tenant and not for the waiver purpose of consummating a sale which has theretofore been made at, originated in or from the premises, or for the purpose of depriving Landlord of the Base Rent. The Rent for benefit of a sale which otherwise would be made at, in or from the premises, nor the amount of returns to shippers or manufacturers, nor the amount of any fractional cash or credit refunds made upon any sale where the merchandise sold, or some part thereof, is thereafter returned by the purchaser and accepted by Tenant, nor sales of fixtures, which are not a part of Tenant's stock in trade. Each sale upon installment or credit shall be treated as a calendar sale for the full price in the month at the commencement or expiration or termination during which such sale shall be made, irrespective of the Lease Term time when Tenant shall be receive payment from its customers. SECTION 3. Tenant shall keep in the premises or some other location in Portland, Oregon, notice in writing of which shall have theretofore been furnished to Landlord, a prorated amount permanent accurate set of books and records of all sales of merchandise and all revenue SECTION 4. On or before the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first 15th day of the calendar month following the month in which the term of this lease commences, and on or before the 15th day of each calendar month thereafter, to and including the calendar month following the termination of the term of this lease, Tenant shall prepare and deliver to Landlord, at the place where rent is payable, a monthly statement of gross sales during the calendar month preceding the due date of expiration said respective statement, certified by Tenant, if Tenant is an individual or termination occurspartnership, or by an authorized officer of Tenant, if Tenant is a corporation. SECTION 5. Tenant agrees, within sixty (60) days after the end of each lease year, to cause a statement of the gross sales and business transacted in, at, on or from the premises for such year to be prepared and certified to by the Tenant, and a copy of such statement so certified shall be delivered to Landlord within such sixty (60) day period. If it is determined by any audit or otherwise that any such statement previously delivered by Tenant to Landlord was inaccurate, then there shall be an adjustment, and one party shall pay to the other, upon demand, such sums as may be necessary so that the correct amount of percentage and fixed rent will have been paid. Each party agrees to pay to the other, on demand, such amount as may be necessary to effectuate any such adjustments. SECTION 6. In the event Landlord is not satisfied with any such statement submitted by Tenant, Landlord shall have the right to make a special audit, by auditors selected by Landlord, of the books and records of Tenant, its subtenants, concessionaires and licensees, hereinbefore required to be made and preserved. Landlord's right to examine Tenant's books and records and those of its subtenants, concessionaires and licensees, as hereinbefore set forth, or to make an audit thereof in respect to any annual statement for such lease year period, shall be available to Landlord only for a period of two (2) years after the applicable annual statements for such periods shall have been furnished to Landlord. If such audit shall show a deficiency in percentage rent for the period covered, the amount thereof shall be paid promptly by Tenant; if such audit shall show percentage rent to have been overpaid, the excess shall be applied on any amounts then due to Landlord by Tenant, and the balance, if any, refunded promptly to Tenant. The provisions of Section 2 and 3 of this Article III shall apply in all respects to partial lease years. If any such statement is found to be incorrect to an extent of more than three percent (3 %) over the figures submitted by Tenant, Tenant shall pay for such special audit, and if such special audit verifies Tenant's statements to be correct or to vary not more than three percent (3%) over the figures submitted by Tenant, the expense of such audit shall be borne by Landlord.

Appears in 1 contract

Sources: Lease Agreement (Gi Joes Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant Lessee agrees to pay Landlord to Lessor or its assignee the Base Rentlease payments (the “Lease Payments”), without prior notice or demandincluding the interest portion, abatement, offset, deduction or claim, equal to the aggregate amounts specified in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (Exhibit C; provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition Lessee shall be obligated to make such Lease Payments during any fiscal year to the Base Rentextent that such Lease Payments may be made from current revenues lawfully budgeted and appropriated for such purpose during such year. The Lease Payments will be payable without notice or demand at the office of the Lessor (or such other place as Lessor or its assignee may from time to time designate in writing), Tenant shall pay Landlord in advance and will commence on the Commencement Date first Lease Payment date as set forth in Exhibit C and thereafter on the first dates set forth in Exhibit C. Except as specifically provided in Section 4 hereof, the obligation to make the Lease Payments will be absolute and unconditional in all events and will not be subject to any set-off, defense, counterclaim or recoupment for any reason whatsoever. Any and all payment(s) received by Lessor hereunder shall be applied to amounts due hereunder at Lessor’s sole discretion notwithstanding any contrary instruction or instrumentation by Lessee. Unless Lessor decides, in its sole discretion, to apply any and all payments(s) received from Lessee in a different manner, then any payments shall be applied in the following order of priority: (1sti) day of each month throughout to repay any reimbursement items due Lessor from Lessee pursuant to the balance of the Term provisions of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant ; (ii) to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part amounts owed by Lessee by virtue of its indemnification obligations under Section 16 hereof; (iii) to any accrued interest owed in connection with a calendar month at late Lease Payment; (iv) to any accrued interest with respect to any Lease Payments then due; and then (iv) to reduce the commencement or expiration or termination principal component(s) of the Lease Payment(s) as and when due hereunder. Lessee reasonably believes that funds can be obtained sufficient to make all Lease Payments during the Lease Term shall and hereby covenants that it will do all things lawfully within its power to obtain, maintain and properly request and pursue funds from which the Lease Payments may be a prorated amount made, including making provisions for such payments to the extent necessary in each budget submitted for the purpose of obtaining funding, using its bona fide best efforts to have such portion of the Rent for a full calendar month based upon a thirty (30) day month. To budget approved and exhausting all available administrative reviews and appeals in the extent not already paid as part event such portion of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent budget is not approved. It is Lessee’s intent to make Lease Payments for the final calendar month hereof shall be paid on full Lease Term if funds are legally available therefor and in that regard Lessee represents that the first day use of the calendar month Equipment is essential to its proper, efficient and economic operation. The total obligation of Lessee for the fiscal year of execution is the sum of the payments for such fiscal year as set forth on Exhibit C. The total obligation of Lessee in each fiscal year renewal term is the sum of the payments during such fiscal year renewal term as set forth on Exhibit C. A schedule of Lessee’s total obligation for the fiscal year of execution and for each fiscal year in which the date of expiration or termination occurs.this Lease is renewed is attached hereto as Exhibit C.

Appears in 1 contract

Sources: Equipment Lease Purchase Agreement

Rent. On A. Tenant covenants to pay to Landlord during the date that Tenant executes Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (all of which shall hereinafter may be applied against the Rent payable for the first month(s) Tenant is required to pay collectively called “Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). .” In addition to the Base Rentaddition, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Leasepromptly pay, as Additional Rent, Tenant's Share of Operating Expensesall rent, Tax Expensessales and use taxes or other similar taxes, Common Area Utility Costsincluding, and Utility Expenses. The term "Rent" whenever used herein refers but not limited to, ad valorem or similar taxes, if any, levied or imposed on Landlord and/or Tenant in relation to the aggregate of Building and/or Premises by any city, state, county or other governmental body having authority, such payments to be in addition to all these amountsother payments required to be paid to Landlord by Tenant under this Lease. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent and Additional Rent for any fractional part of a each calendar month at the commencement year or expiration or termination of portion thereof during the Lease Term Term, shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, due and any prorated Rent for the final calendar month hereof shall be paid payable in advance in monthly installments on the first day of the each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a month or terminates on a day other than the last day of a month, then the installments of Base Rent and Additional Rent for such month or months shall be prorated, based on the number of days in which such month. All amounts received by Landlord from Tenant hereunder shall be applied first to the earliest accrued and unpaid Rent then outstanding. Tenant’s covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. To the extent allowed by law, all installments of Rent not paid when due shall bear interest at the Default Rate from the date due until paid, provided, Tenant shall be entitled to a grace period of expiration three (3) days after notice from Landlord with respect to the first two (2) late payments in any calendar year. In addition, if Tenant fails to pay any installment of Base Rent and Additional Rent or termination occursany other item of Rent when due and payable hereunder, a “Late Charge” equal to five percent (5%) of such unpaid amount will be due and payable immediately by Tenant to Landlord, provided, Tenant shall be entitled to a grace period of three (3) days after notice from Landlord with respect to the first two (2) late payments in any calendar year.

Appears in 1 contract

Sources: Industrial Lease (FibroBiologics Inc.)

Rent. On (a) The rent reserved under this Lease for the date Term hereof shall be and consist of: (i) the Fixed Rent payable in equal monthly installments in advance on the first day of each and every calendar month during the Term (except that Tenant executes this Leaseshall pay one (1) monthly installment on the Commencement Date, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which installment shall be applied against to the Monthly Fixed Rent payable due for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term Term); plus (ii) such additional rent ("Additional Rent") in an amount equal to Tenant's Operating Expenses and of Real Estate Taxes (as such terms are defined in Paragraph 3 of this Lease); all charges for services and utilities pursuant to Paragraph 15 hereof; and any other charges or amounts that shall become due and payable hereunder, including, without limitation, the reasonable expenses incurred by Landlord in the enforcement of any of the agreements, covenants, and obligations under this Lease (and including reasonable legal fees that may accrue in the event suit for rent or dispossess proceedings are necessary to obtain the possession of the Demised Premises or to collect the rent; all of which Additional Rent shall be payable as hereinafter provided. All rent shall be paid to Landlord at its office stated above or such other place Landlord may designate in writing. If the Commencement Date shall occur on a date other than the first calendar day of a month, however, that Landlord has actually received the Advance Rent as provided herein). In addition to rent for the Base Rent, Tenant shall pay Landlord in advance partial month commencing on the Commencement Date and thereafter shall be appropriately pro-rated on the first (1st) day of each month throughout the balance basis of the Term monthly rent payable during the first year of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, the Term. (b) Tenant does hereby covenant and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant agree to pay rental payments for promptly the Fixed Rent and Additional Rent herein reserved as and when the same shall become due and payable, without demand therefor and without any set-off, recoupment, or deduction whatsoever. All Additional Rent payable hereunder that is not due and payable on a period of timemonthly basis during the Term, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term unless otherwise specified herein, shall be a prorated amount of the Rent for a full calendar month based upon a due and payable within thirty (30) day monthdays of delivery by Landlord to Tenant of notice to pay the same. (c) In the event that any payment of Fixed Rent or Additional Rent shall not be paid within five (5) days after the due date for the same as provided herein, Tenant shall pay, together with such payment, the Late Charge. To the extent not already paid as part Furthermore, if Tenant fails to remit a full monthly installment of the Advance Monthly Fixed Rent any prorated or of the Additional Rent shall as provided herein for two (2) consecutive months, then Landlord may require (i) all Fixed Rent and Additional Rent payments to be paid in advance on the Commencement Datea quarterly annual basis, rather than a monthly basis, and any prorated (ii) an increase in an amount equal to one (1) installment of Monthly Fixed Rent in the Security Deposit. In addition, if Tenant submits to Landlord a check for which there are insufficient funds available, then Landlord may charge Tenant as Additional Rent an administrative and handling fee in the final calendar month hereof shall be paid on the first day amount of the calendar month in which the date of expiration or termination occursOne Hundred and 00/100 Dollars.

Appears in 1 contract

Sources: Lease Agreement (Logical Design Solutions Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. 4.1 Tenant agrees to pay to Landlord commencing on the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on date which is the later to occur of the Commencement Date and thereafter or June 30, 1994 (hereinafter referred to as the "Rent Commencement Date") a Fixed Annual Net Rent at the rates set forth on the Rent Schedule annexed hereto as Exhibit C in equal monthly installments shall be payable in advance on the first (1st) day of each month throughout during the balance term hereof without notice of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costsdemand, and Utility Expenseswithout deduction, abatement, or set off for any reason whatsoever, except as in this Lease specifically provided. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent first monthly installment shall be paid on the date hereof. If the Rent Commencement Date, and any prorated Rent for the final calendar month hereof Date shall be paid on a day other than the first day of a calendar month, the calendar Fixed Rent of such first fractional month shall be prorated and shall be paid by Tenant to Landlord on said date. All amounts payable hereunder, as well as other amounts payable by Tenant to Landlord under the terms of this lease, shall be paid at the office of the Landlord set forth above or at such other places as Landlord may from time to time designate by notice to Tenant. 4.2 Upon substantial completion of the Building, Landlord's architect shall certify in which writing to Landlord and Tenant the date number of expiration square feet of floor area contained in the Demised Premises measured from exterior wall to exterior wall. 4.3 It is intended that the Fixed Rent provided for in paragraph 4.1 shall be absolutely net return to Landlord throughout the term hereof, free of any expense charge or termination occursother deduction whatsoever, with respect to the Demised Premises, the Building and/or the ownership, leasing, operation, management, maintenance, repair, rebuilding, use or occupation thereof or any portion thereof with respect to any interest of Landlord therein. 4.4 In the event that any installment of rent due hereunder is not received when due a "late charge" of $.04 for each dollar so overdue may be charged by Landlord for each month or part thereof that the same remains overdue. This charge shall be in addition and not in lieu of any other remedy the Landlord may have under the circumstances and it its in addition to any reasonable fees and charges of any agents or attorneys Landlord may employ on any rental default hereunder whether authorized herein or by law. Any such "late charges" if not previously paid shall, at the option of the Landlord, be added to and become part of the succeeding rental payment to be made hereunder.

Appears in 1 contract

Sources: Lease Modification Agreement (Comfort Systems Usa Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid Beginning on the Commencement Date, but subject to the Abated rent Period described above, Subtenant agrees to pay the Annual Fixed Rent set forth in Section 1(L) to the Payee specified in Section 1(M), by ACH transfer in accordance with the instructions provided in Section 1(O)), or to such other payee or at such other address as may be designated by notice in writing from Sublandlord to Subtenant, without prior demand therefor and without any prorated deduction or set off whatsoever (except as expressly set forth herein or in the Prime Lease as incorporated herein). Annual Fixed Rent for the final calendar month hereof shall be paid in monthly installments (as set forth in Section 1(L)) in advance on the first day of each month of the Term after the Commencement Date. Annual Fixed Rent shall be pro-rated for any partial calendar month at the beginning and end of the Term, All charges, costs and sums required to be paid by Subtenant under this Sublease in which addition to Annual Fixed Rent, shall be deemed “Additional Rent” and Annual Fixed Rent and Additional Rent shall hereinafter collectively be referred to as “Rent”. Subtenant’s covenant to pay Rent shall be independent of every other covenant in this Sublease. Any amount due from Subtenant to Sublandlord under this Sublease that is not paid when due shall bear annual interest from the due date at the lesser of (i) three percent (3%) above the prime rate as reported in The Wall Street Journal on the date closest to the date such payment was required to be made hereunder and (ii) the highest legal rate permitted under the laws of expiration the Commonwealth of Massachusetts (the “Interest Rate”), such interest to accrue from the date due until paid unless otherwise specifically provided herein, but the payment of such interest shall not excuse or termination occurscure any default by Subtenant under this Sublease. Notwithstanding the foregoing, Sublandlord agrees to waive the payment of interest as provided in the immediately preceding sentence with respect to the first late payment of Rent during any twelve-month period. Sublandlord shall also be entitled, on account of a failure by Subtenant to make any payment of Rent when due (except with respect to a first late payment of Rent during any twelve-month period), to charge as Additional Rent a fee equal to five percent (5%) of the amount due as compensation for Sublandlord’s administrative costs in investigating and collecting such late payment.

Appears in 1 contract

Sources: Sublease (Chiasma, Inc)

Rent. On All Rent paid pursuant to the date that Tenant executes this Lease, Tenant Leases for the month or other relevant period in which the Closing occurs shall deliver to Landlord the original executed Lease, the Advance Rent (be adjusted at Closing. No adjustment at Closing shall be made for delinquent rent which shall be handled under the provisions below. Purchaser shall receive a credit at Closing for all Rent paid to Seller prior to the Closing for periods after the month in which the Closing occurs. (i) If, as of the Closing Date, there are any past due Fixed Rent owing by any Tenant, Purchaser shall use its commercially reasonable efforts to collect the same. Purchaser shall not be obligated to institute legal actions or proceedings against any Tenant to collect such past due Fixed Rent, but the Seller hereby waives any and all right to institute any legal actions or proceedings against such Tenant including any right to seek the eviction of such Tenant or the termination of a Lease. (ii) Any Fixed Rent received (net of Purchaser’s reasonable costs of collection) after the Closing from any Tenant which owes Fixed Rent for the period prior to the Closing shall be applied against in the following order of priority: (A) first, to Purchaser, until Fixed Rent for all current periods is paid in full, and (D) second, after Fixed Rent then due and payable for all post Closing periods are paid in full, to the first month(sSeller in payment of Fixed Rent for periods prior to the month immediately preceding the month in which the Closing occurs. (iii) Tenant To the extent that any portion of the Overage Rent is required to pay Rentbe paid monthly or on another periodic basis, by Tenants on account of estimated amounts for the current period, and at the end of each calendar year (or, if applicable, at the end of each lease year or tax year, as the case may be), such estimated amounts are to be recalculated based upon the Security Depositactual expenses, taxes and other relevant factors for that calendar (lease or tax) year, with the appropriate adjustments being made with such Tenants, then such portion of the Overage Rent paid shall be prorated between Seller, on the one hand, and Purchaser, on the other hand, at the Closing, based on such estimated payments (i.e., with Seller entitled to retain all insurance certificates evidencing monthly and other periodic installments of such amounts paid with respect to periods prior to the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees calendar month or other relevant period in which the Closing Date occurs, Seller to pay Landlord to Purchaser at the Base Rent, without prior notice Closing all monthly or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on other relevant period installments of such amounts paid with respect to periods following the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at or other relevant period in which the commencement or expiration or termination Closing occurs and Seller and Purchaser shall apportion all monthly installments of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of such amounts with respect to the calendar month in which the Closing occurs) and at the time(s) of final calculation and collection from (or refund to) Tenants of the amounts in reconciliation of actual Overage Rent for a period for which estimated amounts have been prorated, there shall be a reproration between Seller (on the one hand) and Purchaser (on the other hand), based upon their respective actual expenses, taxes and other relevant factors for that calendar (lease or tax) year, with the net credit resulting from such reproration being payable to the appropriate party. (iv) As to Overage Rent in respect of an accounting period that shall have expired prior to the Closing, but which shall be paid after the Closing, Purchaser agrees that it will pay the entire amount over to the Seller upon receipt thereof, less Purchaser’s reasonable costs of collection reasonably allocable thereto. Purchaser agrees that it shall: (a) promptly render bills for any Overage Rent in respect of an accounting period that shall have expired prior to Closing but which shall be payable after the Closing, (b) ▇▇▇▇ Tenants who owe such Overage Rent attributable to an accounting period that shall have expired prior to the Closing, on a monthly basis for a period of six consecutive months, and (c) use commercially reasonable efforts in the collection of Overage Rent (Seller acknowledges that, as of the date hereof, Seller knows of expiration no such past due Overage Rent); provided, however, that Purchaser shall have no obligation to commence any legal actions or termination occursproceedings to collect any such Overage Rent. Notwithstanding the foregoing, if Purchaser shall be unable to collect such Overage Rent despite using its commercially reasonable efforts to do so, Seller shall have the right to pursue Tenants to collect such delinquencies (including the prosecution of one or more lawsuits); provided, however, (i) Seller shall not be entitled to evict (by summary proceedings or otherwise) any such Tenant or to terminate such Tenant’s Lease, (ii) Seller shall not be entitled to institute any legal actions or proceedings against any such Tenant unless the amounts of the delinquency in controversy, in the aggregate, are equal to or greater than $100,000 and unless Seller shall have first given Purchaser thirty (30) days’ prior written notice of its intent to file such legal action or proceeding against the Tenant, (iii) Seller shall institute such legal actions or proceedings within one (1) year following the Closing, except that no such time limit shall apply to any actions or proceedings arising out of any audit of any Overage Rent by Shook Hardy, and (iv) Purchaser shall not be obligated hereunder to participate in or cooperate with Seller as to such suit. Notwithstanding anything to the contrary herein, no provision of this Agreement shall be construed as preventing or restricting Seller from filing a counterclaim against a Tenant in any suit or other proceeding brought by such Tenant against Seller or any of its affiliates. Seller shall furnish to Purchaser all information relating to the period prior to the Closing that is reasonably necessary for the billing of Overage Rent. Purchaser shall deliver to Seller, concurrently with the delivery to Tenants, copies of all statements relating to Overage Rent for periods prior to the Closing. (v) Any Rent received directly or indirectly by Seller or Purchaser following the Closing and which are the property of the other party, shall be deemed held in trust and shall be paid to the other party within five (5) Business Days following receipt thereof. Upon either party’s request from time to time, the other party shall provide the requesting party with an accounting (certified by the applicable party as being true and correct) of all Rent received by it following Closing. Until such time as all amounts required to be paid to Seller by Purchaser pursuant to the aforesaid provisions shall have been paid in full, Seller may from time to time, but not more frequently than once each calendar month, request that Purchaser furnish Seller with a reasonably detailed accounting of the collection of all Rent. Within ten (10) Business Days of its receipt of such request, Purchaser shall furnish Seller with such accounting. Seller shall have the right from time to time following the Closing, on prior notice to Purchaser, to review Purchaser’s records with respect to the Premises to ascertain the accuracy of such accountings.

Appears in 1 contract

Sources: Sale Agreement (Hines Real Estate Investment Trust Inc)

Rent. On the date that Tenant executes this Lease, Section 3.01 Tenant shall deliver pay to Landlord the original executed LeaseLandlord, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, from and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on after the Commencement Date and thereafter on throughout the Lease Term, the sums set forth in this Lease as "Rent" without prior demand therefor and without offset, deduction, or abatement except as may be otherwise expressly provided herein. Notwithstanding the foregoing, any amounts due by Tenant to Landlord hereunder for which no due date is expressly specified herein (e.g., the first (1st) day of each month throughout month) shall be due within ten (10) days following the balance giving to Tenant by Landlord of the Term written notice of the Lease beginning the second (2nd) month such amounts due, except if some other period of the Term of the Lease (providedtime following written notice or demand is otherwise expressly provided below, howeverthen such other period shall apply. As used herein, that Landlord has actually received the Advance “Rent” shall be deemed to include not only Fixed Rent as provided herein). In addition to the Base Rent, but also all additional sums payable or owed by Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of under this Lease, including without limitation as set forth in Section 3.07 ("Additional Rent”). Except as otherwise expressly provided herein, Tenant's Share in the event of Operating Expensesnonpayment by Tenant of any Rent, Tax Expenses, Common Area Utility Costs, Landlord shall have the same rights and Utility Expensesremedies in respect thereof regardless of whether such Rent constitutes Fixed Rent or Additional Rent. The term "Rent" whenever used herein refers All payments of Rent to the aggregate of all these amounts. If be paid to Landlord permits Tenant shall be paid to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver Landlord (at its election) in one of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month following manners: (1) via electronic deposit into an account designated by Landlord, (2) by mail at the commencement Landlord's office indicated in Article XIX or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based (3) by mail to any other place designated by Landlord upon a at least thirty (30) day monthdays' prior written notice to Tenant. To If the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on Effective Date (and the Commencement Date, and any prorated Rent for the final calendar month hereof ) shall not be paid on the first day of a calendar month, then the calendar rent for such month in which the date of expiration or termination occursshall be prorated based upon a Three Hundred Sixty-Five (365) day year. Section 3.02 Intentionally left blank.

Appears in 1 contract

Sources: Land and Building Lease (Shells Seafood Restaurants Inc)

Rent. On the date that Tenant executes this Lease, (a) Tenant shall deliver pay to Landlord the original executed Leaseor Lender on behalf of Landlord, the Advance Rent (which shall be applied against the Rent payable if directed by Landlord, as annual rent for the first month(s) Tenant is required to pay Leased Premises during the Term ("Basic Rent"), the Security Depositsum of Eight Million Eleven Thousand One Hundred Ninety-seven ($8,011,197) dollars during the initial term and the sums set forth on Exhibit "B" for the renewal terms, and all insurance certificates evidencing the insurance required to which rent shall be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, paid in equal monthly installments in advance at Landlord's Address commencing on the first Business Day of the second month next following the Commencement Date and thereafter continuing on the first (1st) day Business Day of each month throughout thereafter during the balance Term (the said days being called the "Basic Rent Payment Dates"), and shall pay the same at shall pay the same at NPDC-EY Palo Alto Trust, c/o Cardinal Capital Partners, Inc., ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, or at such other place or to such other person on behalf of Landlord as Landlord from time to time may designate to Tenant in writing, in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States and if required by Lender by wire transfer in immediately available federal funds to such account in such bank as Lender shall designate from time to time. Basic Rent for the period from the Commencement Date to the first day of the Term of second month next following the Commencement Date shall be paid on the date provided as the first payment date under the Qualified Exchange Agreement (as defined in the Lease beginning Modification Agreement) with respect to this Lease and shall be calculated on a prorata basis. (b) If any installment of Basic Rent is not paid on the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rentdate due, Tenant shall pay Landlord in advance interest on such overdue payment at the Commencement Date Default Rate, accruing from the due date of such payment until the same is paid. (c) Tenant shall pay as and thereafter on discharge before the first (1st) day imposition of each month throughout the balance of the Term of any fine, lien, interest or penalty that may be added thereto for late payment thereof, as Non-Rent Monetary Obligations, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, as Additional Renttogether with every fine, Tenant's Share penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring any failure by Tenant to pay rental payments for a period of time, the waiver or discharge any of the requirement to pay rental payments foregoing, Landlord and Lender shall only apply to have all rights, powers and remedies provided herein, by law or otherwise, in the waiver event of the Base nonpayment of Basic Rent. The Rent for any fractional part of a calendar month Landlord and Lender shall have the right to make such payment, in which case Tenant shall immediately reimburse such payment (including interest at the commencement Default Rate) to Landlord or expiration Lender, as the case may be. Any Additional Rent or termination of the Lease Term shall be a prorated amount of the Non-Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent Monetary Obligations payable to Landlord shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day in lawful money of the calendar month in which United States to the date of expiration or termination occursparty to whom Basic Rent is paid. 5.

Appears in 1 contract

Sources: Lease (Beckman Coulter Inc)

Rent. On the date that Tenant executes this Lease, (a) Tenant shall deliver pay to Landlord as basic rent for the original executed Lease, Premises the Advance sum per month specified in the Lease Summary (“Basic Rent”). (b) Basic Rent (which shall be applied against paid to Landlord on or before the first day of the Term hereof and on or before the first day of each and every successive calendar month thereafter during the Term hereof, except that Basic Rent payable for the first month(s) Tenant is required to pay Rent), full calendar month shall be paid concurrently with the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B execution of this LeaseLease by ▇▇▇▇▇▇. Tenant agrees to pay Landlord In the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address event the Term commences on the Commencement Date and thereafter on a day other than the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at or ends on a day other than the commencement or expiration or termination last day of a calendar month, then Basic Rent for the first and last fractional months of the Lease Term hereof shall be a appropriately prorated amount on the basis of the Rent for a full calendar month based upon a thirty (30) day calendar month. (c) All charges, assessments, taxes, expenses, reimbursements and other amounts of any kind whatsoever collectively payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent for purposes of collection only (collectively “Additional Rent”). To Landlord shall have the extent not already paid same remedies for default in the payment of Additional Rent as part for default in the payment of the Advance Basic Rent. Basic Rent any prorated and Additional Rent are collectively referred to herein as “Rent.” (d) All Rent shall be paid to Landlord, without deduction or offset, in lawful money of the United States of America at Landlord’s address for notices hereunder or to such other person or at such other place as Landlord may from time to time designate in writing. All Rent payable by Tenant to Landlord hereunder, if not received by Landlord when due, shall bear interest from the due date until paid at the rate publicly announced from time to time by Bank of America, N.T.& S.A. (or any successor bank) at its main office as its then current “Reference Rate” for short term, unsecured loans or any successor rate of interest to said Reference Rate, plus four percent (4%) per annum, but in no event shall such interest exceed the maximum rate permitted by law (“Default Rate”). Any change in the Default Rate shall become effective on the Commencement Date, and same date on which a change in the Reference Rate becomes effective. ▇▇▇▇▇▇▇▇’s acceptance of any prorated Rent for interest payments shall not constitute a waiver of Tenant’s default with respect to the final calendar month hereof shall be paid on the first day overdue amount or prevent Landlord from exercising any of the calendar month rights and remedies available to Landlord under this Lease or by law. (e) Notwithstanding the stated intent of Tenant with respect to any payment made to Landlord, Landlord shall have the right to allocate any payment received from Tenant to any amount otherwise owing from Tenant hereunder in which the date of expiration or termination occursLandlord’s sole and absolute discretion.

Appears in 1 contract

Sources: Office Lease (Intersearch Group Inc)

Rent. On 4.01 From and after the date that Rent Commencement Date, Tenant executes shall and hereby covenants to pay to Landlord, without any setoff or deduction, unless expressly set forth in this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance all Base Rent and Additional Rent (which shall be applied against the Rent payable as defined below) due for the first month(sTerm (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of Base Rent) that Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant Landlord under Section 12 and Exhibit B of this Lease. Tenant agrees to shall pay Landlord the and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent, without prior notice or demand, abatement, offset, deduction or claim, Rent and recurring monthly charges of Additional Rent shall be due and payable in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each calendar month throughout without notice or demand. All other items of Rent shall be due and payable by Tenant on or before thirty (30) days after billing by Landlord. Rent shall be made payable to the balance of entity and sent to the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, address that Landlord has actually received the Advance designates and shall be made by good and sufficient check payable in United States of America currency or by other means designated by Landlord from time to time. If Tenant does not pay any Rent as provided herein). In addition to the Base Rentwhen due hereunder, Tenant shall pay Landlord an administration fee in advance on the Commencement Date and thereafter on amount of $500.00; provided, that, Tenant shall be entitled to a grace period of up to five (5) days for the first two (1st2) day late payments of each month throughout Rent in a calendar year. In addition, past due Rent not paid within five (5) days of when due shall accrue interest at the balance rate of five percent (5%) per annum, and Tenant shall pay Landlord a reasonable fee for any checks returned by Tenant’s bank for any reason. Nothing in this paragraph shall be deemed to waive or condition any claim of Default (as defined below) by Landlord for Tenant’s failure to timely pay Rent, which is governed by Article 18, below. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the oldest obligation due from Tenant hereunder, then to any current Rent then due hereunder, notwithstanding any statement to the contrary contained on or accompanying any such payment from Tenant. Rent for any partial month during the Term of shall be prorated on a per diem basis. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Tenant’s obligation so to pay Rent under this Lease shall be absolute, unconditional, and independent 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 in this Lease, any Casualty or Taking (as Additional Rentsuch terms are defined in Articles 15 and 17 below, Tenant's Share of Operating Expensesrespectively), Tax Expensesor, Common Area Utility Costsexcept as expressly provided in this Lease, any failure by Landlord to perform or other occurrence, and Utility Expenses. The term "Rent" whenever used herein refers Tenant waives all rights now or hereafter existing to the aggregate of all these amounts. If Landlord permits Tenant to occupy terminate, quit or surrender this Lease or the Premises without requiring Tenant or any part thereof or to pay rental payments for a period assert any defense in the nature of time, the waiver of the requirement constructive eviction to pay rental payments shall only apply any action seeking to the waiver of the Base recover Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs.

Appears in 1 contract

Sources: Office Lease Agreement (Butterfly Network, Inc.)

Rent. On (a) The Lessee shall pay the Lessor as rent for the leased premises, the minimum annual sum of $253,920.00, plus sales tax and any other taxes or assessments which may hereafter be levied on rents by any governmental authority, payable without demand and without set off or deduction, except as expressly provided herein, in equal monthly installments of $21,160.001, plus sales tax and any other taxes which may hereafter be February 1, 2016 and continuing thereafter until said total shall be paid. Monthly T & I payment will be $4,015.00. The T & I amount is subject to annual review based upon actual expenses. Amount may be subject to increasement or decreasement. For purposes of this Clause, the term "CPI" shall mean the "Consumer Price Index for All Urban Consumers" published by the Bureau of Labor Statistics of the United States Department of Labor, for the United States, U.S. City Average for all Urban Areas, on the 1982-84=100 base, 12 month period adjustment, or any renamed local index covering the United States or any other successor or substitute index appropriately adjusted. (b) If the Lessee defaults in the payment of any installment or rent hereunder, Lessee shall pay a "late fee" of $25.00 after the third day, such installment is late and, additionally, such late installment shall bear interest at the rate of 18% percent per annum from the day it is due until actually paid. In like manner, ail other obligations, benefits, and monies which may become due to the Lessor from the Lessee under the terms hereof, or which are paid by the Lessor, because of the Lessee's default hereunder, shall bear interest at the rate of 18% percent per annum from the due date until paid, or, in the case of sums paid by the Lessor because or Lessee's default hereunder, from the date that Tenant executes such payments are made by Lessor until the date the Lessor is reimbursed by the Lessee therefor. After the fifth day, Lessee will be put on credit hold until all funds are collected. Any checks, drafts, or other transfers of funds from Lessee to Lessor, in fulfillment of any obligation created by this Lease, Tenant which are returned or refused as "insufficient funds" or are otherwise uncollectable by Lessor, shall deliver subject Lessee to Landlord a penalty of $50.00 or 5% of the original executed Leaseuncollected amount, whichever is greater. All rights and remedies of the Advance Rent (which Lessor under this Lease shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Depositcumulative, and all insurance certificates evidencing none shall exclude any other right or remedy at law. Such rights and remedies may be exercised and enforced concurrently and whenever and as often as the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursoccasion therefor arises.

Appears in 1 contract

Sources: Lease Agreement (On THE MOVE Corp)

Rent. On the date that 3.1 Tenant executes this Lease, Tenant shall deliver agrees to pay to Landlord the original executed Lease, Annual Rent in effect from time to time by paying the Advance Monthly Installment of Rent (which together with any sales tax imposed on rent by the State of Florida or any local unit of government) then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent (together with any sales tax imposed on rent by the State of Florida or any local unit of government) due and payable after the expiration of the Rent Abatement Period shall be applied against paid upon the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B execution of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, The Monthly Installment of Rent in advance effect at Landlord's Address on the Commencement Date and thereafter on the first any time shall be one-twelfth (1st1/12) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Annual Rent as provided herein)in effect at such time. In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of period during the Term which is less than a calendar full month at the commencement or expiration or termination of the Lease Term shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without deduction or offset and without notice or demand. All such rent amounts shall be paid in lawful money of the United States of America and shall be paid to Landlord by Electronic Funds Transfer (“EFT”), Automated Clearing House (“ACH”) or wire transfer to the bank account specified by Landlord, or to such other person or at such other place and/or by such other methods as Landlord may from time to time designate in writing. Upon Lease execution, Tenant agrees to cooperate with Landlord to complete all necessary forms in order to accomplish such method of payment. If Landlord agrees to accept payment of rent by means other than EFT, ACH or wire transfer, and if an Event of Default occurs during the Term, Landlord may require by notice to Tenant that all subsequent rent payments be made by EFT, ACH or wire transfer, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Notwithstanding anything to the contrary, Landlord may, in its sole discretion, allocate any rent or monies Tenant pays to Landlord to any sums then due and payable hereunder and in any order or priority including first to the most delinquent sums then due and payable hereunder. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) five percent (5%) of the unpaid rent or other payment. Notwithstanding the foregoing, Landlord shall not charge Tenant a late charge on a late payment so long as (i) Tenant was not late with the payment of any rent or other sum due under this Lease during the preceding twelve (12) month period, and (ii) Landlord receives the rent or other sum due that is late within five (5) days of the original due date. The amount of the Rent late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for a full calendar each successive month based upon a thirty (30) day monthuntil paid. To the extent not already paid as part The provisions of this Section 3.2 in no way relieve Tenant of the Advance Rent any prorated Rent shall be paid obligation to pay rent or other payments on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which or before the date on which they are due, nor do the terms of expiration this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or termination occursother payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Appgate, Inc.)

Rent. On the date that 3.1 Tenant executes this Lease, Tenant shall deliver agrees to pay to Landlord the original executed LeaseAnnual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the Advance Rent (which first full month's rent shall be applied against paid upon the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B execution of this Lease. Tenant agrees The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to pay Landlord the Base RentLandlord, without prior deduction or offset and without notice or demand, abatementat the Rent Payment Address, offsetas set forth on the Reference Pages, deduction or claimto such other person or at such other place as Landlord may from time to time designate in writing. If an Event of Default occurs, in advance at Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant's bank account to Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (providedaccount, however, that Landlord has actually received the Advance Rent as provided herein)without cost to Landlord. In addition Tenant must implement such automatic payment system prior to the Base Rentnext scheduled rent payment or within ten (10) days after Landlord's notice, whichever is later. Unless specified in this Lease to the contrary. all amounts and sums payable by Tenant to Land lord pursuant to this Lease shall pay Landlord be deemed additional rent. 3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in advance on administrative expense to Landlord, the Commencement Date extent of which additional expense is extremely difficult and thereafter on the first (1st) day of each month throughout the balance of the Term of economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, as Additional Renta late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), Tenant's Share or (b) six percent (6%) of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesthe unpaid rent or other payment. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent late charge to be paid by Tenant shall be reassessed and added to Tenant's obligation for a full calendar each successive month based upon a thirty (30) day monthuntil paid. To the extent not already paid as part The provisions of this Section 3.2 in no way relieve Tenant of the Advance Rent any prorated Rent shall be paid obligation to pay rent or other payments on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which or before the date on which they are due, nor do the terms of expiration this Section 3.2 in any way affect Landlord's remedies pursuant to Article 19 of this Lease in the event said rent or termination occursother payment is unpaid after date due.

Appears in 1 contract

Sources: Lease (Franklin Wireless Corp)

Rent. On the date that Tenant executes this Lease, Section 3.01 Tenant shall deliver pay to Landlord, at Landlord’s offices first listed above or at such other place as Landlord the original executed Leasemay designate from time to time, the Advance Rent (which shall be applied against the Rent payable for the first month(s) in cash, or by check of Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice drawn on a bank or demand, abatement, offset, deduction or claimtrust company in New York State, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of each month during the Term, without counterclaim, set-off or deduction whatsoever, annual fixed rent (the “Base Rent”), commencing on the Rent Commencement Date. Base Rent is due each day of the Term ​ of the Lease commencing on the Rent Commencement Date, but Landlord and Tenant agree that for convenience, Base Rent shall be payable in equal monthly installments, in advance, on the first day of each month during the Term. In addition, Tenant shall pay to Landlord during the Term, at the place and in the manner set forth above, “Additional Rent” (as defined herein) as and when billed by Landlord therefor. Section 3.02 During the Term hereof Base Rent reserved under this Lease shall be and consist of: ​ Section 3.03 All other sums of money as shall become due and payable by Tenant under this Lease (hereinafter, “Additional Rent”), including, without limitation, those items specified in Articles VII, XV and XVIII of this Lease, all of which sums shall be payable as hereinafter provided, all to be paid to Landlord, as specified on the first page of this Lease. Section 3.04 In the event any installment of Base Rent or Additional Rent required pursuant to the provisions of this Lease to be paid by Tenant is not paid when due, and such payment remains unpaid following ten (10) days written notice from Landlord to Tenant, such installment shall bear interest at the rate of ten (10%) percent per annum from the date said installment was due and payable, said interest to be deemed Additional Rent. Section 3.05 In order to cover the extra expense involved in handling delinquent payments, Tenant, at Landlord’s option, shall pay a “late charge” of two (2%) percent of any payment of Base or Additional Rent for each thirty day period, or part thereof, during which said rent remains unpaid, provided payment is paid more than ten days after the due date thereof. It is understood and agreed that this charge is for additional expenses incurred by Landlord and shall not be considered interest. Said late charge is to be deemed Additional Rent. Section 3.06 Tenant shall pay upon demand by Landlord any attorney’s fees incurred by Landlord in connection with the imposition, collection or payment of any Base Rent, Additional Rent and/or said interest, said attorney’s fees to be deemed Additional Rent. In addition, if Tenant’s check for the payment of Base Rent, Additional Rent or any other sum due Landlord hereunder is returned by Tenant’s bank because of insufficient funds or otherwise, Tenant shall, in addition to immediately providing Landlord with a sufficiently funded replacement check, reimburse Landlord an amount equal to the greater of (i) Two Hundred Fifty Dollars ($250.00) or (ii) the actual costs incurred by Landlord as a result of such insufficient funds. Such reimbursement shall be deemed Additional Rent. Section 3.07 Upon execution of this Lease by Tenant, Tenant shall (a) pay the first monthly installment of Base Rent of One Hundred Thousand Dollars ($100,000.00), (b) deliver to Landlord the guaranty of Pro’s Choice Beauty Care, Inc. in the form attached hereto as Exhibit A, and (c) as per Section 26.01, pay to Landlord the Security set forth therein. If the Rent Commencement Date is other than the first day of a calendar month, the portion of such payment attributable to the portion of such calendar month in which prior to the date Rent Commencement Date shall be credited against the payments of Base Rent and Additional Rent first occurring thereafter. Section 3.08 Tenant shall have the right to extend the Term for two (2) five (5) year periods (each, an “Extension Period”). Each Extension Period shall commence immediately upon the expiration of the Term or termination occursthe Tenn as previously extended by an Extension Period. The foregoing right shall be of no force or effect with respect to the subsequent Extension Period unless Tenant shall have duly exercised its right to extend the Term for all prior Extension Periods. Each extension of the Term shall be on all of the terms, covenants and conditions of this Lease except that the Base Rent during each Extension Period shall be as set forth below (`the “Extension Period Base Rent”). Tenant shall have no further right to extend or renew the Term after the expiration of the second Extension Period. Section 3.09 During each Extension Period the Extension Period Base Rent reserved under this Lease shall be as follows: First Extension Period: ​ Second Extension Period: ​

Appears in 1 contract

Sources: Lease (Highland Transcend Partners I Corp.)

Rent. On 3.1 Tenant hereby covenants and agrees to pay to Landlord as rent for the Premises (all of which is collectively referred to as "Rent") all of the following: (a) An annual base rent ("Base Rent") in the amount of Sixty Six Thousand Two Hundred Forty Dollars ($66,240.00), payable in monthly installments of Five Thousand Five Hundred Twenty Dollars ($5,520.00). Each monthly installment of Base Rent shall be paid in advance on the first day of each month during each calendar year, or portion thereof (with appropriate adjustment for any calendar year which does not fall totally within the Term), during the Term; provided, however, that the installment of Base Rent payable for the first full calendar month of the Term shall be due and payable upon execution of this Lease and (b) Additional rent ("Additional Rent") in the amount of any payment referred to as such in any portion of this Lease which accrues while this Lease is in effect (which shall include any and all charges or other amounts which Tenant is obligated to pay Landlord under this Lease, other than Base rent). 3.2 Base rent and all Additional Rent as provided for under this Lease shall be paid promptly when due, in cash or by check, in lawful money of the United States of America, without notice or demand and without deduction, diminution, abatement or set off of any amount or for any reason whatsoever, payable to Landlord, and delivered to its offices at the address as stated in Article 24 or to such other person and place as may be designated by notice in writing from Landlord to Tenant from time to time. If Tenant shall present to Landlord more than twice during the Term checks or drafts not honored by the institution upon which they are issued, then Landlord may require that future payments of Rent and other sums thereafter payable be made by certified or cashier's check. 3.3 Other remedies for non-payment of Rent notwithstanding, any installment of Rent which is not paid within ten (10) days after the due date shall be subject, at Landlord's option each month, to a late charge equal to five percent (5%) of the amount due, which shall be payable as Additional Rent. Any installment of Base rent or Additional Rent not paid within thirty (30) days from the date that due shall accrue interest at the rate of four percent higher than the rate published by the Wall Street Journal (or any successor publication) from time to time as the prime rate (the "Prime Rate") (but in no event higher than the maximum rate allowed by law) until paid in full, which interest shall be deemed Additional Rent. 3.4 No payment by Tenant executes or receipt by Landlord of a lesser amount than the monthly installments of Rent herein stipulated shall be deemed to be other than on account of the earliest stipulated Rent nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and Landlord may accept such check for payment without prejudice to Landlord's right to recover the balance of such Rent or to pursue any other rent be provided in this Lease. 3.5 Simultaneously with the execution of this Lease, Tenant shall deliver to deposit with Landlord the original executed Lease, sum of Eleven Thousand Forty Dollars ($11,040.00) as a security deposit (the Advance Rent "Security Deposit"). The Security Deposit (which shall not bear interest to Tenant) shall be applied against the Rent payable considered as security for the first month(s) Tenant is required to pay Rent)payment and performance of the obligations, the covenants, conditions and agreements contained herein. The Security Deposit, and all insurance certificates evidencing the insurance required to be obtained Deposit shall not constitute an advance payment of any amounts owed by Tenant under Section 12 and Exhibit B this Lease, or a measure of damages to which Landlord shall be entitled upon a breach of this Lease by Tenant or upon termination of this Lease. Tenant agrees to pay Landlord the Base Rentmay, without prior notice prejudice to any other remedy, use the Security Deposit to the extent necessary to remedy any default in the payment of Base rent or Additional Rent or to satisfy any other obligation of Tenant hereunder, and Tenant shall promptly, on demand, abatementrestore the Security Deposit to its original amount. If Landlord transfers its interest in the Premises during the Term, offset, deduction or claim, in advance at Landlord's Address on Landlord may assign the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition Security Deposit to the Base Rent, transferee who shall become obligated to Tenant shall pay Landlord in advance on for its return pursuant to the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term terms of this Lease, as Additional Rent, and thereafter Landlord shall have no further liability for its return. 3.6 Tenant's Share pro rata share of Operating Expenses, Tax Expenses, the increases in Common Area Utility Costs, Expenses (as defined in Article 4) and Utility Expenses. The term "Rent" whenever used herein refers increases in Real Estate Taxes (as defined in Article 5) is agreed to the aggregate of all these amounts. If be sixty-five and twenty-six one hundredths percent (65.26%). 3.7 It is agreed by Landlord permits and Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated that no Rent for the final calendar month hereof use, occupancy or utilization of the Premises shall be, or is, based in whole or in part on the net income or profits derived by any person from the Building or the Premises, and Tenant further agrees that it will not enter into any sublease, license, concession or other agreement for any use, occupancy or utilization of the Premises which provides for rent or other payment for such use, occupancy or utilization based in whole or in part on the net income or profits derived by any person from the Premises so leased, used, occupied or utilized. Nothing in the foregoing sentence, however, shall be paid on construed as permitting or constituting Landlord's approval of any sublease, license, concession, or other use, occupancy, or utilization agreement not otherwise approved by Landlord in accordance with the first day provisions of the calendar month in which the date of expiration or termination occursArticle 13 hereof.

Appears in 1 contract

Sources: Office Building Lease (Environmental Power Corp)

Rent. On All rent is payable through the date that Tenant executes this LeaseTenant’s Resident Portal Account, Tenant shall deliver to Landlord the original executed Leaseor such other place or address designated by Landlord. Tenant, the Advance Rent (which shall be applied against the Rent payable in return for the first month(s) Tenant is required to pay Rent)use of the Unit and in consideration of the terms, the Security Depositconditions, covenants, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to provisions contained herein, shall pay Landlord the Base sum of [Format(Prospect.UserDefinedField("Lease Prep- Total Numeric Amount for Entire Lease"),"Currency"], without offset or deduction (the “Rent”). Tenant hereby acknowledges that the Term of this Lease may be less than a full calendar year, and the Rent has been allocated into installments of [Format(Prospect.UserDefinedField("Lease Prep- Numeric Monthly Rent (0,000.00)"),"Currency")]. Monthly Rent, without prior notice or demand, abatement, offset, deduction or claim, together with any other payment of Rent due together therewith shall be payable in advance at Landlord's Address without further notice, demand or deduction as follows: The first (1st) installment of monthly Rent shall be due on or before the Commencement Date and all payments of monthly Rent due thereafter shall be paid on or before the first (1st) day of each month throughout during the balance entire Term. Time is of the Term essence and Rent is past due if not ACTUALLY RECEIVED by Landlord on or before the due date. The first installment of the Lease beginning the second monthly Rent is [Format(Prospect.UserDefinedField("Lease Prep- Numeric First Month's Rent (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein)0,000.00)"),"Currency"]. In addition to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant obligation to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount independent of the Rent for a full calendar month based upon a thirty (30) day monthany of Landlord's obligations hereunder. To the extent not already paid that Tenant is required or obligated to pay any amounts hereunder to or for the benefit of Landlord, which shall be in addition to the monthly scheduled Rent as part provided above, such amounts shall be deemed and considered as additional Rent, and in all respects intended to be included and considered as "Rent", as such term is defined in the Act. Should any Rent or additional Rent be due, outstanding, unpaid or accrued at the time of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or earlier termination occursof this Agreement, the duty, liability and obligation of Tenant to pay the same shall survive such expiration or termination. Additional Rent and monthly charges will be listed on separate addenda.

Appears in 1 contract

Sources: Rental Agreement

Rent. On (a) So long as the date that Tenant executes this Lease, Tenant shall deliver Lease Term has not been terminated as a result of non-appropriation or default pursuant to Landlord Section 4.1(b) or 4.1(c) of the original executed Master Lease, the Advance Rent Corporation shall pay to the School Board as and for rental for the Series 2022B-1 Facility Sites the sum of one dollar ($1.00) per annum, which sum shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord due in advance on the Commencement Date (prorated) and annually thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of each renewal Lease Term. At the calendar month option of the Corporation, the Corporation may prepay all or a portion of the ground rent payable hereunder for the entire initial lease term hereof from the proceeds of sale of the Series 2022B Certificates or otherwise. (b) From and after the date on which the Lease Term shall have been terminated as a result of non-appropriation or default pursuant to Section 4.1(b) or 4.1(c) of the Master Lease, the Corporation shall pay as and for rental for the Series 2022B-1 Facility Sites an amount determined by an M.A.I. appraisal to be the fair market rental for the Series 2022B-1 Facility Sites (the “Appraisal”), which Appraisal shall be prepared by an appraiser selected by the Trustee as assignee of the Corporation (the cost of such Appraisal to be paid by the Trustee and reimbursed as provided in which Article VI of the Trust Agreement); provided, however, that such fair market rental and the payment thereof shall be subject to the following adjustments and conditions: (i) if the Lease Term shall have been terminated on a date other than June 30 of any year, the fair market rental determined pursuant to the Appraisal shall be prorated for the number of days between the date of expiration termination and the next succeeding June 30; (ii) for each twelve month period beginning on the July 1 next succeeding the date on which such termination occurs and beginning on each succeeding July 1, the amount of the fair market rental determined by the Appraisal shall be adjusted by the percentage (positive or termination occursnegative) which is equal to the Implicit Price Deflator of the Consumer Price Index published by the United States Department of Commerce for the region of the United States where Florida is located or for the United States as a whole if not so published for such region; (iii) the fair market rental due in any year shall be paid in the current year only to the extent that the moneys received by the Trustee as assignee of the Corporation from the exercise of the remedies permitted under the Series 2022B-1 Lease during the preceding twelve months prior to such July 1 exceeded the principal and interest portion of Basic Lease Payments under the Series 2022B-1 Lease payable for such preceding twelve months and other amounts described in Section 504 of the Trust Agreement; provided, however, that any portion of such fair market rental not paid in any year due to the provisions of this clause (iii) shall remain due and payable and shall accumulate from year to year and shall be paid in any future year to the extent that moneys received in such year from the exercise of the remedies permitted by the Series 2022B-1 Lease exceed the principal and interest portion of Basic Lease Payments under the Series 2022B-1 Lease and other amounts described in Section 504 of the Trust Agreement and the fair market rental due in such years; and (iv) the failure to pay any portion of the fair market rental in any year due to insufficiencies of moneys realized from the exercise of the remedies permitted under the Series 2022B-1 Lease (1) shall not give rise to any obligation to pay interest on such unpaid fair market rental and (2) shall not constitute a default under this Series 2022B Ground Lease by the Corporation or the Trustee as the assignee of the Corporation.

Appears in 1 contract

Sources: Master Lease Purchase Agreement

Rent. On the date that 3.1 Tenant executes this Lease, Tenant shall deliver hereby covenants and agrees to pay to Landlord as rent for the original executed LeasePremises (all of which is collectively referred to as “Rent”) all of the following: (a) an annual basic rent (“Basic Rent”) in the sum of One Hundred Seventy Thousand One Hundred Seventy Dollars and 00/100 ($170,170.00), payable in twelve (12) equal monthly installments of Fourteen Thousand One Hundred Eighty and 85/100 Dollars ($14,180.85), in advance on the Advance Rent first day of each month during each calendar year, or portion thereof (with appropriate adjustment for any calendar year which shall be applied against does not fall totally within the Term), during the Term; provided, however, that the installment of Basic Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) full calendar month of the Term (and if the Term commences on a day other than the first day of a calendar month, that portion of Basic Rent which is payable for such month) shall be due and payable on the execution of this Lease; and (b) additional rent (“Additional Rent”) in the amount of any payment referred to as such in any portion of this Lease which accrues while this Lease is in effect (which shall include any and all charges or other amounts which Tenant is obligated to pay Landlord under this Lease, other than Basic Rent). 3.2 Basic Rent shall be adjusted in each calendar year following the initial calendar year of the Lease (providedTerm, howeveror portion thereof, that Landlord has actually received the Advance as provided in Article 5 hereof. 3.3 Basic Rent and all Additional Rent as provided herein)for under this Lease shall be paid promptly when due, in cash or by check, in lawful money of the United States of America, without notice or demand and without deduction, diminution, abatement, counterclaim or set off of any amount or for any reason whatsoever, payable to Landlord, and delivered to it at its offices at the address as stated in Article 26 or to such other person and place as may be designated by notice in writing from Landlord to Tenant from time to time. In addition to the Base Rent, If Tenant shall pay present to Landlord in advance on more than twice during the Commencement Date Term checks or drafts not honored by the institution upon which they are issued, then Landlord may require that future payments of Rent and other sums thereafter on payable be made by certified or cashier’s check. 3.4 Other remedies for non-payment of Rent notwithstanding, any installment of Rent which is not paid within ten (10) days after the first due date shall be subject, at Landlord’s option each month, to a late charge equal to five percent (1st5%) day of each month throughout the balance of the Term of this Leaseamount due, which shall be payable as Additional Rent, Tenant's Share . Any installment of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Basic Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Additional Rent for a full calendar month based upon a not paid within thirty (30) day month. To days from the extent not already date due shall accrue interest at the rate of four percent (4%) higher than the rate announced by First Security Bank, Lexington, Kentucky (or its successor) from time to time as its prime rate (the “Prime Rate”) (but in no event higher than the maximum rate allowed by law) until paid as part in full, which interest shall be deemed Additional Rent. 3.5 No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installments of Rent herein stipulated shall be deemed to be other than on account of the Advance earliest stipulated Rent nor shall any prorated endorsement or statement on any check or any letter accompanying any check or payment as Rent shall be paid on the Commencement Datedeemed an accord and satisfaction, and Landlord may accept such check for payment without prejudice to Landlord’s right to recover the balance of such Rent or to pursue any prorated other remedy provided in this Lease. 3.6 It is agreed by Landlord and Tenant that no Rent for the final calendar month hereof use, occupancy or utilization of the Premises shall be, or is, based in whole or in part on the net income or profits derived by any person from the Building, Project or the Premises, and Tenant further agrees that it will not enter into any sublease, license, concession or other agreement for any use, occupancy or utilization of the Premises which provides for rent or other payment for such use, occupancy or utilization based in whole or in part on the net income or profits derived by any person from the Premises so leased, used, occupied or utilized. Nothing in the foregoing sentence, however, shall be paid on construed as permitting or constituting Landlord’s approval of any sublease, license, concession, or other use, occupancy, or utilization agreement not otherwise approved by Landlord in accordance with the first day provisions of the calendar month in which the date of expiration or termination occursparagraph 15.1 hereof.

Appears in 1 contract

Sources: Lease Agreement (Windstar Energy, LLC)

Rent. On Except for delinquent rent, all rent under the Company's Leases and other income attributable to the Property shall be apportioned on a per diem basis as of midnight on the date that Tenant executes immediately preceding the Closing. All such rent and other income, including commissions earned, for the period preceding the Closing shall be deemed to be property of the Contributor, and all rent and other income for any period commencing as of the Closing and thereafter shall be the property of BNP for the purpose of making the adjustments set forth herein. Amounts owed under this Leaseparagraph shall be paid to the party to whom they are owed in cash at the 213 Closing or during the Post-Closing Adjustment Period. Delinquent rent shall not be prorated, Tenant but shall deliver be deemed the property of the Contributor. Payments received by BNP from tenants of the Property from and after the Closing with respect to Landlord the original executed Lease, the Advance Rent (which Property shall be applied against first to rents and other amounts then due BNP from such tenant and then to such tenant's delinquent rent as of the Rent payable time of apportionment. BNP shall use reasonable efforts to collect delinquent rents for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance benefit of the Term Contributor but in no event shall be obligated to evict or ▇▇▇ any tenants in order to collect such rents and shall cooperate with the Contributor in the collection of the Lease beginning the second (2nd) month of the Term of the Lease (any delinquent amounts; provided, however, that Landlord has actually the Contributor shall not have any rights to evict such tenants for such delinquent amounts. Any amounts received by Contributor on account of rent or other income for the Advance Rent as provided herein). In addition period after the Closing with respect to the Base RentProperty and the related personal property shall be turned over to BNP for application in accordance with the terms of this paragraph. All accounts receivable, Tenant notes, cash and bank accounts of the Company existing as of the Closing Date shall pay Landlord in advance on be transferred at Closing to the Commencement Date and thereafter on Contributor, other than the first (1st) day of each month throughout the remaining balance of any escrow accounts for tenant improvements and lease commissions held by the Term of this LeaseCompany, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant amount necessary to pay rental payments prorations of taxes, security deposits and amounts which belong to BNP after making the closing adjustments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, rent and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occursoperating expenses.

Appears in 1 contract

Sources: Exchange Agreement (BNP Residential Properties Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease3.1. Tenant agrees to pay to Landlord the Base RentAnnual Rent in effect from time to time by paying the Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number of days in such month. Said rent shall be paid to Landlord, without prior deduction or offset and without notice or demand, abatementat the Rent Payment Address, offset, deduction or claim, in advance at Landlord's Address as set forth on the Commencement Date Reference Pages, or to such other person or at such other place as Landlord may from time to time designate in writing. If a monetary Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and thereafter on sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent. 3.1.1. Notwithstanding the foregoing, provided that there shall not exist any Event of Default, and no event exists which by notice and/or the passage of time would constitute an Event of Default if not cured within the applicable cure period provided under this Lease, and subject to the provisions of Section 19.3 below, the Monthly Installments of Annual Rent due for the first (1st) day full calendar month following the Commencement Date shall be abated. Nothing in this Section 3.1.1, however, shall be interpreted to except or excuse Tenant from any Additional Rent or other amounts due under this Lease to Landlord. 3.2. Tenant recognizes that late payment of each month throughout any rent or other sum due under this Lease will result in administrative expense to Landlord, the balance extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late charge shall be imposed in an amount equal to the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (unpaid rent or other payment; provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition agrees to the Base Rent, Tenant shall pay Landlord in advance on the Commencement Date waive and thereafter on forgive the first (1st) day of each month throughout any such late charges during the balance of Term, provided that Landlord receives such overdue rent or other sum within five (5) days after the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expensesdate due. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due. 3.3. Notwithstanding anything to the contrary contained herein, if the Commencement Month is not a full calendar month based upon a thirty (30) day month. To the extent not already paid as , such Commencement Month shall be deemed for all purposes of this Lease to be part of the Advance Rent any prorated Rent First Lease Year and Tenant shall be paid on the Commencement Date, and any prorated pay additional Annual Rent for such Commencement Month calculated on a per diem basis at the final calendar month hereof shall be paid on Annual Rental Rate for the first day of the calendar month in which the date of expiration or termination occursFirst Lease Year.

Appears in 1 contract

Sources: Lease Agreement (NitroSecurity, Inc.)

Rent. On the date that Tenant executes this Lease, (a) Tenant shall deliver pay to Landlord (or to Lender, if directed by Landlord) in advance, as minimum annual rent for the original executed LeaseLeased Premises during the Term, the Advance Rent amounts set forth in Exhibit B attached hereto (which shall be applied against the Rent payable for the first month(s) Tenant is required to pay “Basic Rent), the Security Deposit, commencing on and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter continuing on the first (1st) day of each month throughout the balance of thereafter during the Term of (the Lease beginning said days being the second (2nd) month of the Term of the Lease (provided“Basic Rent Payment Dates”), however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant and shall pay the same at Landlord’s address set forth below, or at such other place as Landlord from time to time may designate to Tenant in advance on writing, in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America and if required by Lender by wire transfer in immediately available federal funds to such account in such bank as Lender shall designate, from time to time. If the Commencement Date and thereafter does not occur on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Basic Rent for the final calendar month hereof shall be paid on period from and including the first Commencement Date through and including the last day of the calendar month in which the date Commencement Date occurs shall be paid on the Commencement Date in the amount equal to one thirtieth (1/30) of expiration the monthly Basic Rent for the initial term set forth on Exhibit B attached hereto for each day from and including the Commencement Date through and including February 28, 2006. (b) Tenant shall pay and discharge before the imposition of any fine, lien, interest or termination occurspenalty may be added thereto for late payment thereof, as Additional Rent, all other amounts and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the party to whom such payment is due for nonpayment or late payment thereof. In the event of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have all rights, powers and remedies provided herein, by Law or otherwise, in the event of nonpayment of Basic Rent. (c) If any installment of Basic Rent is not paid within five (5) days after written notice is given by Landlord or Lender (or Lender’s servicer or other designee of Lender) to Tenant that the same is overdue, Tenant shall pay to Landlord or Lender, as the case may be, on demand, as Additional Rent, a late charge equal to two percent (2%) (the “Late Charge”) on such overdue installment of Basic Rent. In addition, Tenant shall be responsible for the payment of any default rate interest imposed by Lender in connection with the non-performance of Tenant of any of the terms, covenants and conditions of this Lease. (d) Landlord and Tenant agree that this Lease is a true lease and does not represent a financing arrangement. Each party shall reflect the transactions represented by this Lease in all applicable books, records and reports (including, without limitation, income tax filings) in a manner consistent with true lease treatment rather than financing treatment.

Appears in 1 contract

Sources: Lease Agreement (Gc Net Lease Reit, Inc.)

Rent. On (a) The Lessee shall pay SELCO Basic Rent and Lessor Basic Rent on the Acquisition Date. Thereafter the Lessee shall pay Basic Rent (to the extent such Basic Rent (or any component thereof) is then due and owing) on (x) each Payment Date during the Term, (y) the date that Tenant executes required under Section 24.1(i) in connection with the Lessee's exercise of the Remarketing Option, and (z) any date on which this LeaseLease shall terminate. (b) Rent shall be due and payable in lawful money of the United States and, Tenant after the occurrence and during the continuance of a Cash Management Event, shall deliver be paid by wire transfer of immediately available funds on the due date therefor from the relevant Sub-Accounts of the Cash Collateral Account, to Landlord the original executed Leaseextent funds exist therein. With the exception of the first payment on the Acquisition Date of SELCO Basic Rent and Lessor Basic Rent, for which at least two (2) Business Days prior written notice from the Lessor shall be provided, the Advance Rent (which Lessor shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior provide written notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term amount of the Lease beginning the second Basic Rent due at least two (2nd2) month of the Term of the Lease (Business Days prior to each due date therefor; provided, however, that Landlord has actually the failure of the Lessor to provide such notice shall not affect Lessee's obligations hereunder or impose liability on Lessor. Lessee shall deposit all security deposits received the Advance Rent as provided herein). In addition by it with respect to the Base RentProperty into the Security Deposit Account and shall cause all relevant checks to be made payable to the name of the Security Deposit Account. (c) So long as a Cash Management Event is not continuing, Tenant Rent shall pay Landlord in advance be payable by wire transfer of immediately available funds on the Commencement Date due date therefor as follows: (i) Lessor Basic Rent and thereafter on SELCO Basic Rent and Supplemental Rent to which the first Lessor is entitled shall be payable to the Lessor at the place of payment designated in writing by the Lessor and (1stii) day the remainder of each month throughout Basic Rent and Supplemental Rent to which the balance Lender is entitled shall be payable to the Lender or Lender's designee or to an account identified by Lender or Lender's designee as set forth in Section 2.12 (b) of the Term Nomura Loan Agreement. (d) Neither the Lessee's inability or failure to take possession of all or any portion of the Property when delivered by the Lessor, whether or not attributable to any act or omission of the Lessee, or for any other reason whatsoever, shall delay or otherwise affect the Lessee's obligation to pay Rent for the Property in accordance with the terms of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs.

Appears in 1 contract

Sources: Lease (Brookdale Living Communities Inc)

Rent. On the date that Tenant executes this Lease, Tenant shall deliver pay to Landlord the original executed LeaseMinimum Annual Rent in the amounts of the Monthly Rental Installments set forth in Section 1.01(e) above, in advance, without demand, abatement, counterclaim, recoupment, deduction or offset, and without relief from valuation or 7 I\14399819.10 (a) if the default occurs during months 1 through 3 of the initial Lease Term (i.e., during the Base Rent Abatement Period), 100% of the Abated Base Rent actually abated (with appropriate adjustments to the foregoing in the event that the Commencement Date with respect to Suite 100 has not occurred on November 1, 2022); (b) if the default occurs during months 4 through 87 of the initial Lease Term, 100% of the Abated Base Rent multiplied by a fraction, the Advance numerator of which is the number of months from the date on which the default occurs through the last month of the Initial Term, and the denominator of which is eighty-four (84) months (with appropriate adjustments to the foregoing in the event that the Commencement Date with respect to Suite 100 has not occurred on November 1, 2022). In the event the Abated Base Rent (which is not timely paid as set forth in the preceding sentences, Landlord shall have all remedies otherwise available pursuant to this Lease for nonpayment of Rent. The payment by Tenant of the Abated Base Rent in the event of a default shall not limit or affect any of Landlord's other rights or remedies pursuant to this Lease or at law or in equity. During the Base Rent Abatement Period, only Monthly Rental Installments shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Depositabated, and all insurance certificates evidencing Additional Rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the insurance required to be obtained by Tenant under Section 12 and Exhibit B provisions of this Lease. Tenant agrees Notwithstanding anything to pay the contrary herein, Landlord shall have the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, option in advance at Landlord's Address on sole discretion, to make a cash payment to Tenant in the Commencement Date and thereafter on the first (1st) day of each month throughout the balance amount of the Term Abated Base Rent due under this Section 3.01. Upon Landlord's tender of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rentsuch payment, Tenant shall pay no longer be entitled to ▇▇▇▇▇ any Base Rent pursuant to this Section 3.01. Landlord in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, shall exercise its option to buy out Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility CostsAbated Base Rent by notice given to Tenant, and Utility ExpensesLandlord shall make such payment to Tenant within ten (10) days of such notice. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs.8 I\14399819.10

Appears in 1 contract

Sources: Office Lease (eHealth, Inc.)

Rent. On the date that Tenant executes this Lease, 1.01. Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be applied against the Rent payable pay basic annual rent for the first month(sdemised premises in accordance with and pursuant to Schedule I, attached hereto and made a part hereof from and after the Possession Date (as hereinafter defined) Tenant is required with respect to pay Rent), each Portion of the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. demised premises further provided that Tenant agrees to pay Landlord said basic annual rent in lawful money of the Base Rent, without prior notice or demand, abatement, offset, deduction or claimUnited States, in advance at Landlord's Address on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord equal monthly installments in advance on the Commencement Date and thereafter on the first (1st) day of each month throughout the balance of the Term of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the each calendar month during said term, at the office of Landlord or such other place in which the date United States of America as Landlord may designate, without any setoff or deduction whatsoever, except as otherwise expressly set forth in this Lease. 1.02. Notwithstanding the provisions of Section 1.01 above, provided that Tenant is not in monetary default or material non-monetary default under this Lease beyond applicable notice and cure periods, Tenant shall be entitled to an abatement of (i) basic annual rent, Tax Payments, Operating Expense Payments and Cafeteria Rent for the period from and after the applicable Possession Date to and including January 31, 2013 (the “Initial Rent Abatement Period”), subject to modification of the last day of the Initial Rent Abatement Period as provided in Section 31.01(e) below, (ii) basic annual rent in the amount of $77,229.81 per each month during the twelve (12) month period immediately following the expiration of the Initial Rent Abatement Period (the “Partial Rent Abatement Period”), and (iii) if applicable, basic rent as provided in Section 32.04(b) hereof; provided that if any such default exists during the Initial Rent Abatement Period or termination occursthe Partial Rent Abatement Period and is thereafter cured, then, except as set forth in Section 31.01(a) so long as no other such default then exists and the Lease remains in effect, Tenant shall be immediately entitled to the applicable unapplied portion of the abatement after such default has been cured; provided, further, if Tenant shall be entitled pursuant to the express provisions of this Lease to an additional abatement of rent during any of the periods provided in clauses (i) through (iii) above, such additional rent abatement shall be in addition to, and shall not be concurrent with, the number of days that the applicable rent abatement provided in this Section 1.02 shall have been in effect. 1.03. In the event an installment of basic annual rent is first due on a day other than the first day of a month, basic annual rent and additional rent, if any, for that partial month shall be prorated on the basis of a three hundred sixty five (365) day year using the actual number of days in each month. If the term of this Lease ends on a day other than the last day of a month, basic annual rent and additional rent shall be adjusted in the same manner as provided hereinabove.

Appears in 1 contract

Sources: Lease Agreement (Oppenheimer Holdings Inc)

Rent. On (a) The Rent as per Section 4 of the date that Tenant executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which Lease Deed shall be applied against the Rent payable for the first month(s) Tenant is required to pay Rent), the Security Deposit, and all insurance certificates evidencing the insurance required to be obtained by Tenant under Section 12 and Exhibit B of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim, in advance at Landlord's Address on or before the Commencement Date and thereafter on the first fifteenth (1st15th) day of each calendar month throughout during the balance term of this lease. The Lessor should receive the payment on or before the fifteenth (15th) day of each calendar month during the term of this lease. The maintenance charges shall also be paid on the same date. (b) If the Lease Commencement Date occurs on a day other than on the tenth day of a month, rent from the Lease Commencement Date until the tenth day of the Term following month shall be prorated at the rate of one-thirtieth (1/30) of the Lease beginning the second (2nd) month of the Term of the Lease (provided, however, that Landlord has actually received the Advance Rent as provided herein). In addition to the Base Rent, Tenant shall pay Landlord payable in advance on the Lease Commencement Date Date. (c) The Rent, all Charges and thereafter on Reimbursements shall be paid promptly when due, in Indian Rupees, without notice or demand and without deduction, diminution, abatement, counterclaim or set-off of any amount, other than withholding taxes as provided at sub-clause (b) above and credit for any excess Reimbursements as /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ /s/ ▇▇▇▇▇ ▇▇▇▇▇ provided in this Exhibit. The Rent and the first Reimbursements shall be paid to Lessor at the following address: ▇▇▇▇ # ▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ - 500 081, or at such other address or to such other person as Lessor may designate by adequate written notice to Lessee from time to time. If Lessor shall at any time accept Rent and/or Reimbursements after it shall become due and payable, such acceptance shall not excuse delay upon subsequent occasions, or constitute a waiver of Lessor's rights hereunder. If Lessee makes any payment to Lessor by cheque, the same shall be by cheque drawn by the Lessee only, and Lessor shall not be required to accept a cheque drawn by any other person. Any cheque received by Lessor shall be deemed received subject to collection. GTC-12: SURRENDER OF DEMISED PREMISES Upon termination of this Lease by lapse of time or otherwise, Lessee shall surrender the Demised Premises to Lessor upon simultaneous refund of the Deposit, together with all permanent additions, alterations, improvements and installations thereto (1st) day including the Leasehold Improvements), in broom-clean condition and in good order and repair, except for ordinary wear and tear and damage which Lessee is not obligated to repair, failing which Lessor may restore Demised Premises to such condition at Lessee's expense. Provided however, and it is hereby expressly agreed and understood that if after the expiry or sooner determination of each month throughout the balance Lease, the Lessor is unable for any reason whatsoever to refund the Deposit, Lessee shall be entitled to continue to use or occupy the Demised Premises without payment of any Rent or other charges until the Deposit is refunded. Upon such termination, Lessee's trade fixtures and furniture shall remain Lessee's property, and Lessee shall have the right prior to such termination to remove the same. Lessee shall promptly repair any damage caused by any such removal and shall restore the Demised Premises in good order and condition reasonable wear and tear excepted. Lessee shall surrender the Demised Premises to Lessor at the end of the Term without notice of this Lease, as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costsany kind, and Utility ExpensesLessee hereby waives all right to any such notice as may be provided under any present or future law. The term "Rent" whenever used herein refers to the aggregate of all these amounts. If Landlord permits Tenant to occupy the Premises without requiring Tenant to pay rental payments for a period of time, the waiver of the requirement to pay rental payments shall only apply to the waiver of the Base Rent. The Rent for any fractional part of a calendar month at the commencement or expiration or termination of the Lease Term shall be a prorated amount of the Rent for a full calendar month based upon a thirty (30) day month. To the extent not already paid as part of the Advance Rent any prorated Rent shall be paid on the Commencement Date, and any prorated Rent for the final calendar month hereof shall be paid on the first day of the calendar month in which the date of expiration or termination occurs.RULES & REGULATION FOR USE OF PREMISES --------------------------------------

Appears in 1 contract

Sources: Lease Deed (Kanbay International Inc)