Common use of Rent Clause in Contracts

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Lease Agreement (Corporate Property Associates 17 - Global INC), Lease Agreement (Corporate Property Associates 17 - Global INC)

Rent. 7.1 The (a) Tenant covenants and agrees that it shall pay to Landlord as rental the amount specified in the Basic Lease Information as the Base Rent. Base Rent for the first month shall be responsible for 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 Basic last payment of Base Rent annually 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 to Landlord of rent and proportionately for 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 fraction loan secured by the Building. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord on, or prior to, the date due, Tenant shall pay to Landlord a Lease Year from late charge equal to five percent (5%) of 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 including reasonable estimate of the Commencement Date and from and including the Rent Adjustment Date costs Landlord will incur by reason of late payment by Tena▇▇. ▇▇ceptance of such other Basic Rent as may become payable under the provisions late charge by Landlord shall in no event constitute a waiver of SCHEDULE 2. Following the first rent payment on the Commencement Date (Tenant's default with respect to the period defined in the next sentence below)such overdue amount, the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect nor prevent Landlord from exercising any of the period from other rights and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord remedies under the provisions of Clause 10.9 of this Lease. 7.3 The (d) Any amount payable by Tenant shallto Landlord, if possiblenot paid when due, ensure 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 that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor caninterest shall not be established, the Landlord shall direct all such contractors to account payable on a monthly basis directly to late charges incurred by Tenant (or shall provide copies nor on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of amounts upon which shall be made late charges are paid by Tenant to the applicable contractor within thirty (30) days following receipt extent such interest would cause the total interest to be in excess of an Invoice from Landlord that legally permitted. Payment of interest shall not excuse or contractor, as applicablecure any default by Tenant under this Lease. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)e) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any All payments due from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) hereunder shall be made against Invoices issued to Landlord without deduction or offset in lawful money of the United States of America at the address for payment set forth in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to time designate by the Landlord notice to the Tenant.

Appears in 2 contracts

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

Rent. 7.1 The Tenant covenants and agrees that it (a) Sublessee shall pay to Sublessor as Basic Rental as for the Subleased Premises during the Term of this Sublease Agreement the amount set forth below: Period Monthly Rent ------ ------------ Commencement Date to Expiration $6,118.13 In addition to the Basic Rental, Sublessee shall also pay to Sublessor all Additional Rent payable by Sublessor under the Lease including self insurance costs, to the extent allocable to the Subleased Premises. For purposes of calculating such Additional Rent, Sublessee's "proportionate share" shall be responsible a fraction, the numerator of which is the space contained in the Subleased Premises (8,540 square feet as of the Commencement Date) and the denominator of which is the entire space contained in the Building (209,088 square feet). The respective amounts set forth above shall be paid on or before the 1st day of each month of the Term. If Sublessee fails or refuses to pay any installment of Basic Rental within five (5) business days after the date such installment is due, or Additional Rent within fifteen (15) business days after Sublessee's receipt of written demand therefor, Sublessor shall be entitled to collect a late charge equal to five percent (5%) multiplied by the amount of the late payment to compensate Sublessor for the additional expense involved in handling delinquent payments and not as interest. If the payment of a late charge required by this Section is found to constitute interest notwithstanding the Basic Rent annually contrary intention of Sublessor and proportionately for any fraction of a Lease Year from and including Sublessee, the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect late charge shall be limited to the period defined in maximum amount of interest that lawfully may be collected by Sublessor under applicable law, and if any payment is determined to exceed such lawful amount, the excess shall be applied to any unpaid rent then due and payable hereunder and/or credited against the next sentence below)succeeding installment of rent payable hereunder. If all rent payable hereunder has been paid in full, the Basic Rent any excess shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and refunded to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisSublessee. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Adams Laboratories, Inc.), Sublease Agreement (Adams Respiratory Therapeutics, Inc.)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4a) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in Section 1(g) hereof. Such rental shall be payable in advance, VAT in equal monthly installments upon the first day of each and any every month throughout the term of 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 taxes 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 whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to two percent in excess of the applicable contractor within thirty “Prime Rate” published from time to time by The Wall Street Journal (30) days following receipt hereinafter referred to as the “Interest Rate”). In addition, if any payment of an Invoice from Landlord or contractorrent is not paid when due, as applicable. 7.4 If required by the Landlord, the Tenant shall pay to Landlord a late charge equal to three and one half percent of each late payment. Landlord shall have no obligation to accept less than the Basic Rent reserved full amount of all installments of rental and interest thereon and all charges hereunder which are due and owing by Clause 7.1 Tenant to Landlord, and VAT by wire transfer if 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. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or banker's standing order the interest provided for therein on up to two occasions during each calendar year, provided such payments are made to Landlord within ten 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 bank account or bank accounts (but waiver of Landlord’s entitlement to any charges not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne timely billed by Landlord. 7.5 Any payments from the (d) Tenant to the Landlord agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued paid to Landlord by the Landlord (i) check mailed to the address set forth in Section 1(n) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of immediately available funds, or (iii) electronic funds transfer.

Appears in 2 contracts

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

Rent. 7.1 The 4.1 Tenant covenants and hereby agrees that it shall be responsible for to pay Landlord the payment Base Rent. For purposes of Rent adjustment under the Basic Rent annually and proportionately for any fraction of a Lease Year from and including Lease, (a) if the Commencement Date and falls on a date that is prior to the 15th day of the calendar month, the number of months is measured from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on day of the calendar month in which the Commencement Date falls, or (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4b) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on if the Commencement Date and to be in respect falls on a date that is the 15th or a later day of the period calendar month, the number of months is measured from and including the first day of the calendar month after the calendar month in which the 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 each calendar month. In addition to the Base Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement DateTaxes (each as hereinafter defined), the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever of money as shall become due and payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of as set forth in this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord constitute additional rent under this Lease (including 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 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 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. 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. Notwithstanding the foregoing provisions of this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in any calendar year 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 any calendar year 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 calendar year 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 Basic Rentfirst full installment of Monthly Rent and Tenant’s Share of Operating Expenses and Taxes due hereunder and (ii) shall be made against Invoices issued by the Landlord an amount equal to the Security Deposit Amount to be held by Landlord as security for Tenant.’s faithful

Appears in 2 contracts

Sources: Lease Agreement (Allakos Inc.), Lease Agreement (Allakos Inc.)

Rent. 7.1 The Tenant covenants Except for delinquent rent, all rent under the Company's Leases and agrees that it other income attributable to the Property shall be responsible apportioned on a per diem basis as of midnight on the date immediately preceding the Closing. All such rent and other income, including commissions earned, for the payment period preceding the Closing shall be deemed to be property of the Basic Rent annually applicable Contributors, and proportionately all rent and other income for any fraction period commencing as of a Lease Year the Closing and thereafter shall be the property of BNP for the purpose of making the adjustments set forth herein. Amounts owed under this paragraph 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, but shall be deemed the property of the Contributors. Payments received by BNP from tenants of the Property from and including after the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (Closing with respect to the period defined Property shall be applied first to rents and other amounts then due BNP from such tenant and then to such tenant's delinquent rent as of the time of apportionment. BNP shall use reasonable efforts to collect delinquent rents for the benefit of the 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 next sentence below)collection of any delinquent amounts; provided, however, that 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 period after the Closing with respect to the Property and the related personal property shall be turned over to BNP for application in accordance with the terms of this paragraph. All accounts receivable, notes, cash and bank accounts of the Company existing as of the Closing Date shall be transferred at Closing to the appropriate Contributors, other than the remaining balance of any escrow accounts for tenant improvements and lease commissions held by the Company, the Basic Rent shall be divided into four (4) equal portions amount necessary to pay prorations of taxes, security deposits and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) amounts which belong to BNP after making the closing adjustments for rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisoperating expenses. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

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

Rent. 7.1 The Tenant A. Sub-Subtenant covenants and agrees that it to pay to Sub-Sublandlord rent (herein referred to as the “Fixed Rent”) for the Sub-Sublet Premises as follows: $414,943.00 per annum, payable in equal monthly installments of $34,578.58 for the period (hereinafter referred to as the “Rent Period”) commencing seven (7) months after the Sub-Sublease Commencement Date (hereinafter referred to as the “Sub-Sublease Rent Commencement Date”) and ending on December 29, 2009. Monthly installments of Fixed Rent shall be responsible for payable in advance on the payment first day of the Basic each calendar month. B. Fixed Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such all other Basic Rent as may become amounts payable by Sub-Subtenant to Sub-Sublandlord under the provisions of SCHEDULE 2this Sub-Sublease (herein referred to as the “Additional Rent”) shall be paid promptly when due, without notice or demand therefore except as expressly provided in this Sub-Sublease, and without deduction, abatement, counterclaim or setoff of any amount or for any reason whatsoever. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Fixed Rent and Additional Rent shall be divided into four (4) equal portions and each portion will paid to Sub-Sublandlord in lawful money of the United States at the address of Sub-Sublandlord set forth in Article 17 of this Sub-Sublease or to such other person and/or at such other address as Sub-Sublandlord may from time to time designate by notice to Sub-Subtenant as provided for herein. Any Fixed Rent or Additional Rent payable for less than a full month shall be pro-rated. No payment by Sub-Subtenant or receipt by Sub-Sublandlord of any lesser amount than the amount stipulated to be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment hereunder shall be made deemed other than on the Commencement Date and to be in respect account of the period from earliest stipulated Fixed Rent or Additional Rent; nor shall any endorsement or statement on any check or letter be deemed an accord and including satisfaction, and Sub-Sublandlord may accept any check or payment without prejudice to Sub-Sublandlord’s right to recover the Commencement Date balance due or to pursue any other remedy available to Sub-Sublandlord. Any provision in the Prime Sublease or the Prime Lease referring to rent, increases in rent or additional rent incorporated herein by reference shall be deemed to refer to the Fixed Rent and including the Working Day immediately preceding the next following Additional Rent Payment Date calculated on a daily basisdue under this Sub-Sublease. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within C. Within thirty (30) days following of receipt of an Invoice invoice therefor from Landlord or contractorSub-Sublandlord, as applicable. 7.4 If required by the Landlord, the Tenant Sub-Subtenant shall pay any payment on account of Additional Rent, including without limitation payment on account of Tax Payments (as defined in Section 3.02 (a) of the Basic Rent reserved by Clause 7.1 Prime Lease) and VAT by wire transfer or banker's standing order to a bank payments on account or bank accounts of Operating Payments (but not more than two (2as defined in Section 3.03(a) of the Prime Lease)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT The amounts to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost by Sub-Subtenant shall be borne calculated in accordance with Article 3 of the Prime Lease, except that (i) the term “Base Operating Year” as set forth in Section 3.01(a) of the Prime Lease (as modified by Landlord. 7.5 Any payments from Paragraph 5(b) of the Tenant First Supplemental Agreement with respect to the Landlord under this Premises and Paragraph 4(a) of the Prime Sublease with respect to the Original Sublet Premises) shall mean the calendar year commencing on January 1, 2003 and ending on December 31, 2003; (ii) the term “Base Tax Amount” as set forth in Section 3.01(c) of the Prime Lease (including the payment as modified by Paragraph 5(b) of the Basic RentFirst Supplemental Agreement with respect to the Premises and Paragraph 4(a) of the Prime Sublease with respect to the Original Sublet Premises) shall be made against Invoices issued by mean one-half of the Landlord to sum of (x) the Tenant.Taxes for the Tax Year commencing July 1, 2002 and (y) the Taxes for the Tax Year commencing July 1, 2003, both as finally

Appears in 2 contracts

Sources: Sub Sublease Agreement, Sub Sublease Agreement (Arch Capital Group LTD)

Rent. 7.1 The Tenant Sublessee covenants and agrees that it to pay a fixed annual rent (“Rent”) in the initial amount of Thirty Two Dollars and Thirty Five Cents ($32.35) per square foot of Rentable Area (as defined in the Master Lease) within the Sublease Premises, which shall be responsible for due and payable in monthly installments on the payment first day of each and every calendar month during the Basic Rent annually and proportionately for any fraction of a Lease Year from and including Term, except the month in which the Commencement Date occurs, in which month Rent shall be due and from and including payable within 15 days of the Commencement Date. The Rent shall increase periodically as provided in the Master Lease such that the Rent Adjustment Date such other Basic Rent for the Sublease Premises is the same per square foot amount as may become the rent payable under the provisions of SCHEDULE 2Master Lease for the Premises at all times during the Term. Following If this Sublease shall commence on a day other than the first rent payment day of a month, or shall expire on a day other than the Commencement Date (with respect to the period defined in the next sentence below)last day of a month, the Basic Rent for such month shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated prorated based on a daily basis. 7.2 From and including ratio the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment numerator of which shall be made by Tenant the number of days during such month that this Sublease was in effect and the denominator of which shall be the total number of days in such month. Rent and other charges herein reserved or payable shall be paid to Sublessor at the applicable contractor within thirty (30) days following receipt address set forth in the notice section below, or at such place as Sublessor may designate, in lawful money of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT United States of America by wire transfer of funds in accordance with the wiring instructions set forth on Exhibit A attached hereto, as and when the same become due and payable, without demand therefor and without any deduction, set-off or banker's standing order to a bank account abatement whatsoever. All sums payable under this Sublease shall, from and after ten (10) business days’ notice that such payment is due, bear interest at the lesser of twelve percent (12%) per annum or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments maximum non-usurious interest rate from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenantdate due until paid.

Appears in 2 contracts

Sources: Sublease (Liberty Latin America Ltd.), Sublease (Liberty Latin America Ltd.)

Rent. 7.1 (a) The Tenant covenants Lessee shall pay FBTC Basic Rent and agrees 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 required under Section ------- 24.1 (i) in connection with the Lessee's exercise of the Remarketing Option, ------- and (z) any date on which this Lease shall terminate. The Lessee and Lessor hereby agree that it amounts which would otherwise be payable by Lessee to Lessor hereunder as Lessor Basic Rent are payable as interest on the Pledged Securities pursuant to the terms of the Securities Pledge Agreement and such amounts shall not constitute Rent hereunder. (b) Rent shall be responsible for the payment due and payable in lawful money of the Basic Rent annually United States and, after the occurrence and proportionately for any fraction during the continuance of a Lease Year Cash Management Event, shall be paid by wire transfer of immediately available funds on the due date therefor from and including the Commencement Date and from and including relevant Sub-Accounts of the Rent Adjustment Date such other Basic Rent as may become payable under Cash Collateral Account, to the provisions extent funds exist therein. With the exception of SCHEDULE 2. Following the first rent payment on the Commencement Acquisition Date of FBTC Basic Rent and Lessor Basic Rent, for which at least two (2) Business Days prior written notice from the Lessor shall be provided, the Lessor shall provide written notice of the amount of Basic Rent due at least five (5) Business Days prior to each due date therefor; provided, however, that 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 by it with respect to the period defined in Property into the next sentence below)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, the Basic Rent shall be divided into four payable by wire transfer of immediately available funds on the due date therefor as follows: (4i) equal portions Lessor Basic Rent and each portion will be paid quarterly in advance on each FBTC Basic Rent Payment Date in every Lease Year. The first (1st) rent payment and Supplemental Rent to which the Lessor is entitled shall be made on payable to the Commencement Date Lessor at the place of payment designated in writing by the Lessor and (ii) the remainder of Basic Rent and Supplemental Rent to which the 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 respect Section ------- 2.12 (b) of the period from and including Nomura Loan Agreement. -------- (d) Neither the Commencement Date Lessee's inability or failure to and including take possession of all or any portion of the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable Property when delivered by the Tenant Lessor, whether or not attributable to any act or omission of the Landlord under Lessee, or for any other reason whatsoever, shall delay or otherwise affect the provisions of Clause 10.9 Lessee's obligation to pay Rent for the Property in accordance with the terms of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Lease (Brookdale Living Communities Inc), Lease (Brookdale Living Communities Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 4.01 From and including after the Commencement Date, the Tenant shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Outgoings, VAT Base Rent and any and Additional Rent due for the Term (collectively referred to as “Rent”). “Additional Rent” means all other taxes or sums whatsoever as become payable or refundable by the (exclusive of Base Rent) that Tenant is required to the pay Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The . Tenant shallshall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if possibleany, ensure that direct contractual relationships are established between the Tenant imposed upon or measured by Rent. Base Rent and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a recurring monthly basis directly to Tenant (or shall provide copies on a monthly basis charges of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which Additional Rent shall be made due and payable in advance on the first day of each calendar month without notice or demand. All other items of Rent shall be due and payable by Tenant to the applicable contractor within on or before thirty (30) days following receipt after billing by Landlord. Rent shall be made 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 an Invoice America currency or by other means designated by Landlord from Landlord or contractortime to time. If Tenant does not pay any Rent when due hereunder, as applicable. 7.4 If required by the Landlord, the Tenant shall pay Landlord an administration fee in the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order amount of $500.00, provided that Tenant shall be entitled to a grace period of up to five (5) days for the first late payment of Rent in a calendar year; provided, however, Landlord shall waive the administration fee for one (1) late payment in any twelve (12) month period during the Term. In addition, past due Rent shall accrue interest at twelve percent (12%) 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 by Landlord for Tenant’s failure to timely pay Rent, which is governed by Section 18, below. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account or bank accounts (but not more than two (2)) either in Germany or another country which of the Landlord has notified in writing 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. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and for any partial month during the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost Term shall be borne prorated. 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 the Lease shall be absolute, unconditional, and independent and shall not be discharged or otherwise affected by Landlord. 7.5 Any payments from the Tenant any law or regulation now or hereafter applicable to the Landlord under this Lease (including Premises, or any other restriction on Tenant’s use, or, except as expressly provided in the payment of the Basic Rent) shall be made against Invoices issued Lease, any casualty or taking, or any failure by the Landlord to perform or other occurrence; and Tenant waives all rights now or hereafter existing to assert any defense in the Tenantnature of constructive eviction to any action seeking to recover Rent.

Appears in 2 contracts

Sources: Office Lease Agreement, Office Lease Agreement (scPharmaceuticals Inc.)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible pay to Landlord, at Landlord's Address for Payment of Rent designated in the Basic Lease Information, or at such other address as Landlord may from time to time designate in writing to Tenant for the payment of Rent, the Basic Base Rent, without notice, demand, offset or deduction, in advance, on the first day of each calendar month. Landlord shall have no obligation to notify Tenant of any increase in Rent annually and proportionately for Tenant's obligation to pay all Rent (and any fraction increases) when due shall not be modified or altered by such lack of notice from Landlord. It is intended that this Lease be a "triple net lease," and that the Rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable. Except as expressly provided to the contrary in this Lease, Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises or the Project Upon the execution of this Lease, Tenant shall pay to Landlord the first month's Base Rent. If the Term commences (or ends) on a date other than the first (or last) day of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)month, the Basic Base Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made prorated on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within a thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the day month. All sums other than Base Rent which Tenant shall is obligated to pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by deemed to be additional rent due hereunder ("Additional Rent"), whether or not such sums are designated Additional Rent and, together with the Base Rent, shall be due and payable to Landlord to commencing on the TenantPossession Date. The term "Rent" means the Base Rent and all Additional Rent payable hereunder.

Appears in 2 contracts

Sources: Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc), Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc)

Rent. 7.1 The Tenant covenants During the Lease Term, Tenants, jointly and agrees that it severally, shall pay a total rent to Landlord in the amount of $ . Said total rent shall be responsible for the payment paid by Tenant to Landlord in equal monthly installments of the Basic Rent annually $ (“Rent”) to Landlord, at Landlord’s address set forth above, in advance and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly received in advance hand or postmarked on each Rent Payment Date in every Lease Year. The or before the first (1st) rent payment shall be made day of each calendar month during the Lease Term and without demand, delay or offset for any reason and without a grace period. If the Rent is not received in hand or postmarked on or before the Commencement Date and to be in respect 1st day of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Dateeach month, the Tenant is in default of this said lease. Time is of the essence for each and every monthly Rent payment and for all other monies due and owing under this Lease, including security deposit, damages, invoices or other costs or expenses chargeable by law by Landlord to Tenant. Tenants, shall jointly and severally, immediately pay to Landlord a late fee of Fifty Dollars ($50) for any monthly payment of Rent not received in hand by Landlord on or before the first (1st) day of each calendar month, and an ongoing $5 per day late fee after the 5th day that Rent has not been received in hand by Landlord. It is Tenant’s responsibility to ensure that Landlord receives said Rent. Tenants jointly and severally shall pay to Landlord a fee of Fifty Dollars ($50), or any amounts charged by Landlord’s bank if greater than $50, for each check of Tenants jointly or severally returned by a banking institution for insufficient funds or for any other reason. If Landlord receives a returned check issued jointly or severally by Tenants from a banking institution, Landlord may require that Tenants make all Outgoingsfuture payments to Landlord in the form of cash, VAT money order, or cashiers check only. Base Rent and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallPet Rent, if possibleany, ensure that direct contractual relationships are established between the collectively referred to herein as “Rent”. Landlord will first deduct all fees, damages, costs and charges, including late fees, NSF fees, and other damages and costs set forth herein, from all amounts received from Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant before applying said amounts to the applicable contractor within thirty (30) days following receipt Rent due. Tenant may elect to receive a discount of an Invoice from Landlord or contractorthe last month’s Rent, at Tenant's option, as applicableprovided in this Section. Tenant will receive a discount on their last month’s rent in the amount of $50 provided that the discounted amount of their last month’s Rent is paid and received by Landlord in full prior to or on the date of move in. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Rent. 7.1 The a. Tenant covenants and agrees that it shall pay Landlord as rent for the Premises Base Rent for each month during the Term. Such amounts shall be responsible for the payment of the Basic Rent annually due and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be on the first (1st) day of each calendar month thereafter, without any deduction or offset and without prior notice or demand, in respect lawful money of the period United States of America, at the address indicated by Landlord from and including time to time. Base Rent shall be increased during the Commencement Date 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 and including Landlord of an executed copy of this Lease, Tenant shall deliver to Landlord the Working Day immediately preceding Base Rent for the next following Rent Payment Date calculated on a daily basisfirst month of the Tern. 7.2 From b. As set forth in more detail below, Landlord shall be responsible, without additional charge to Tenant, for the maintenance of the Common Areas, exterior areas of the Project and including base Building mechanical, plumbing and electrical systems serving the Commencement DatePremises (but not Tenant’s specialized equipment), insurance for the Project, real estate taxes for the Project, and utilities and janitorial service as described 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), Tenant’s request for additional services or damage to the Building by Tenant or any Tenant Parties, Tenant shall pay all Outgoingsthe 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, VAT and including any and all other taxes sums that may become due by reason of any default of Tenant or sums whatsoever as become payable or refundable by failure to comply with the Tenant to the Landlord under the provisions of Clause 10.9 terms of this Lease. 7.3 The Tenant shallLease to be performed by Tenant, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty deemed additional rent (30) days following receipt of an Invoice from Landlord or contractorwhich, as applicable. 7.4 If required by the Landlordcollectively with Base Rent, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlorddeemed “Rent”). 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

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

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4a) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto Landlord as rental for the Premises during each year of the Term of this Lease the amount set forth in Section 1(h) hereof and the amount determined pursuant to Section 3(d) hereof during any extension period. Such rental shall be payable in advance, VAT in equal monthly installments upon the first day of each and any every month throughout the Term of 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 taxes 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 whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to [***] in excess of the applicable contractor within thirty “Prime Rate” published from time to time by The Wall Street Journal (30) days following receipt hereinafter referred to as the “Interest Rate”). In addition, if any payment of an Invoice from Landlord or contractorrent is not paid when due, as applicable. 7.4 If required by the Landlord, the Tenant shall pay to Landlord a late charge equal to [***] of each late payment. Landlord shall have no obligation to accept less than the Basic Rent reserved full amount of all installments of rental and interest thereon and all charges hereunder which are due and owing by Clause 7.1 Tenant to Landlord, and VAT by wire transfer if 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. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or banker's standing order the interest provided for therein on up to a bank account or bank accounts (but not more than two (2)) either occasions during each calendar year, provided such payments 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 Germany no way excuse Tenant from its payment obligations or another country which the Landlord has notified in writing constitute a waiver of Landlord’s entitlement to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne any charges not timely billed by Landlord. 7.5 Any payments from the (d) Tenant to the Landlord agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued paid to Landlord by the Landlord (i) check mailed to the address set forth in Section 1 (o) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of immediately available funds, or (iii) electronic funds transfer.

Appears in 2 contracts

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

Rent. 7.1 The Tenant covenants and agrees that it To the extent collected by Sellers prior to Closing, the “minimum” or “base” rent paid by tenants under the Assignable Leases for the calendar month in which the Closing occurs shall be responsible prorated between Purchaser and Sellers on the basis of the number of days of such month the Property will have been owned by Purchaser and Sellers, respectively. There shall be no proration of any rent which is delinquent as of the Closing Date. Rent collected on or after the Closing Date shall be applied first to the month of Closing, then to any delinquency existing for the payment of period thereafter and then to any delinquency for the Basic Rent annually and proportionately for period prior to Closing. Purchaser shall cause any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect applicable to the period defined prior to Closing to be remitted to Sellers if, as, and when collected. At Closing, Sellers shall deliver to Purchaser a schedule of all delinquent rent. In the event any delinquent rent is omitted from such schedule, Sellers shall not be deemed to have waived their rights to such rent. Purchaser shall include the amount of delinquent rent in the next sentence below)first bills thereafter submitted to the tenants in question after the Closing, the Basic Rent and shall continue to do so for three (3) months thereafter. Purchaser shall promptly deliver to Sellers a copy of each such ▇▇▇▇ submitted to tenants. After such three (3) month period following Closing, provided Sellers have obtained Purchaser’s prior consent, which consent may be withheld in Purchaser’s sole and absolute discretion, Sellers may pursue remedies directly against delinquent tenants, but may not ▇▇▇ to evict or otherwise dispossess such tenants. Any percentage rent collected in connection with any Assignable Leases shall not be prorated at Closing but shall be divided into four (4) equal portions prorated after the applicable lease year is over and each portion will be paid quarterly total revenues and breakpoint have been reconciled under the applicable Assignable Lease, with such revenues and breakpoint allocated evenly over the year in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated which Closing occurs on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT basis and any and all other taxes or sums whatsoever as become amount payable or refundable by the Tenant from one party to the Landlord other shall be paid promptly after such reconciliation is required under the provisions of Clause 10.9 of this applicable Assignable Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Real Estate Sale Agreement, Real Estate Sale Agreement (Equity Commonwealth)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible rent for the payment Accommodation will be as stated on page 1 of this Tenancy Agreement. The Landlord acknowledges the Basic Tenant has paid the Advance Payment of FIVE HUNDRED POUNDS (£500) STERLING which will be credited to the Tenant’s rent account. Subsequent Rent annually and proportionately for any fraction of payments must be paid by monthly instalments in advance by recurring card payments (from a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2UK bank account). Following the first rent payment The subsequent monthly sums due will be shown on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and schedule to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing separately to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside The sum of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease ONE HUNDRED AND FIFTY POUNDS (including the payment £150) STERLING of the Basic Rent) shall Advance Payment will be made against Invoices issued retained by the Landlord as a cancellation fee if this Tenancy Agreement is terminated, either by the Tenant or by the Landlord due to a breach of the terms of this Tenancy Agreement by the Tenant, prior to 4 September 2020. If this Tenancy Agreement is terminated by the Tenant, or by the Landlord due to a breach of the terms of this Tenancy Agreement by the Tenant, at any time after 4 September 2020 before the contractual termination date stated on page 1 of this Tenancy Agreement the Landlord will be entitled to retain from the Rent paid in advance such sums as may Necessary to compensate the Landlord for the Landlord’s losses due to such early termination all in accordance with the terms of Condition 25 (c) hereof. If there is an insufficient sum at the credit if the Tenant’s Rent account to compensate the Landlord for the Landlord’s losses, (as determined in accordance with Condition 25 (c)) the Tenant will remain responsible for payment of any shortfall notified to the Tenant. In the event of there being a credit balance on the Tenant’s Rent there shall be refunded to the Tenant such proportion of any payments made in advance by the Tenant as may remain after deduction of (1) any Rent due by the Tenant until the date of occupation by the new occupier and (2) Administrative, legal, factorial, cleaning and other costs incurred by the Landlord in re-letting the Premises.

Appears in 2 contracts

Sources: Tenancy Agreement, Tenancy Agreement

Rent. 7.1 The Tenant covenants and agrees that it In consideration of this Lease, during the Term, Lessee shall be responsible pay to Lessor the amounts set forth in Exhibit C as annual basic rent for the payment of the Premises (“Basic Rent”). Lessee shall pay Basic Rent annually and proportionately for all other sums payable to Lessor hereunder to Lessor (or, upon Lessor’s request, to any fraction mortgagee(s) or beneficiary(ies) identified by Lessor (whether one or more, the “Mortgagee”) under any mortgages, deeds of trust or similar security instruments creating a Lease Year lien on the interest of Lessor in the Premises (whether one or more, the “Mortgage”)) by check or wire transfer, in immediately available funds, as directed from and including time to time by the Commencement Date and from and including the Rent Adjustment Date Lessor, or at such other address or to such other person as Lessor from time to time may designate. Lessor shall give Lessee not less than fifteen (15) days prior written notice of any change in the address to which such payments are to be made. If the party entitled to receive Basic Rent as may become or such party’s address shall change, Lessee may, until receipt of notice of such change from the party entitled to receive Basic Rent or other sums payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect hereunder immediately preceding such change, continue to pay Basic Rent and other sums payable hereunder to the period defined party to which, and in the next sentence below)manner in which, the preceding installment of Basic Rent or other sums payable hereunder, as the case may be, was paid. Such Basic Rent shall be divided into four (4) paid in equal portions and each portion will be paid quarterly monthly installments in advance on the first day of each month, except for any Basic Rent Payment Date in every Lease Year. The first (1st) rent payment due for the rental of the Premises during the Interim Term which shall be payable in advance on or before the date hereof. Any rental payment made on the Commencement Date and to be in respect of a period which is less than one month shall be prorated by multiplying the period from then applicable monthly Basic Rent by a fraction the numerator of which is the number of days in such month with respect to which rent is being paid and including the Commencement Date to denominator of which is the total number of days in such month. Lessee shall perform all its obligations under this Lease at its sole cost and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From expense, and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant, and other sums payable hereunder when due and payable, without notice or demand.

Appears in 2 contracts

Sources: Lease Agreement (M/a-Com Technology Solutions Holdings, Inc.), Lease Agreement (M/a-Com Technology Solutions Holdings, Inc.)

Rent. 7.1 The Except as otherwise expressly set forth in this Lease, Tenant covenants agrees to pay to Landlord at the first office specified in Section 1.01 (2), or to such other persons, or at such other places, designated by Landlord, without any prior demand therefor in immediately available funds and agrees that it without any deduction or offset whatsoever, except as otherwise set forth in this Lease, all Rent during the Term as and when due pursuant to this Lease. Monthly Base Rent shall be responsible for paid monthly in advance on the payment first day of each month of the Basic Term, except that the installment of Monthly Base Rent annually and proportionately for any fraction partial month at the beginning of a Lease Year from and including the Term shall be paid prior to the Commencement Date and from and including the installment of Monthly Base Rent Adjustment Date such other Basic Rent as may become payable under due for the provisions sixth (6th) month of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent Term shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor Landlord within thirty (30) days following receipt the Date of an Invoice this Lease. Monthly Base Rent shall be prorated for partial months within the Term. Unpaid Rent shall bear interest at the Default Rate from Landlord or contractorthe date due until paid provided, as applicable. 7.4 If required by the Landlordhowever, the that Tenant shall be entitled to notice and an additional three (3) business day grace period before the imposition of Default Interest the first time in any calendar year that Tenant does not timely pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order hereunder. Tenant’s covenant to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic pay Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from independent of every other covenant in this Lease. Notwithstanding the Tenant foregoing, Tenant’s obligation to pay Rent shall be conditionally abated during the Landlord first five (5) full calendar months of the Term (the “Rent Abatement Period”) in an amount not to exceed $958,013.75. Such abatement shall apply to Rent only and shall not apply to any other sums payable under this Lease. The abatement of Rent described above is expressly conditioned on Tenant’s performance of its obligations under this Lease (including throughout the payment Term, and the amount of the Basic Rent) abated Rent is based in part on the amount of Rent due under this Lease for the full Term. If Tenant Defaults under this Lease and such Default continues beyond the applicable notice and cure period, then Tenant shall be made against Invoices issued by immediately, on demand, pay to Landlord, in addition to all other amounts and damages to which Landlord is entitled, the Landlord to unamortized amount of Rent which would otherwise have been due and payable during the TenantRent Abatement Period (based on the straight-line amortization of the abated Rent across the initial Term plus interest at the rate of 8% per annum).

Appears in 2 contracts

Sources: Office Lease (Accolade, Inc.), Office Lease (Accolade, Inc.)

Rent. 7.1 The On the date that Tenant covenants and agrees that it executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Base Rent (which shall be responsible applied against the Rent payable for the payment first month Tenant is required to pay Base Rent), 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 the Basic Rent annually this Lease and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2Exhibit B hereto. Following the first rent payment on the Commencement Date Tenant agrees to pay Landlord, without prior notice or demand, or abatement (with respect to the period defined except as otherwise set forth in the next sentence belowSections 27 and 41 hereof), offset, deduction or claim, the Basic Base Rent shall be divided into four (4) equal portions and each portion will be paid quarterly described on Page 1, payable in advance at Landlord's address shown on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made Page 1 on the Commencement Date and to be in respect thereafter on the first (1st) day of each month throughout the Term of the period from and including Lease. In addition to the Base Rent set forth on Page 1, Tenant shall pay Landlord in advance, on the Commencement Date to and including thereafter on the Working Day immediately preceding first (1st) day of each month throughout the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 Term of this Lease. 7.3 , as Additional Rent, Tenant's Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The Tenant shall, if possible, ensure that direct contractual relationships are established between term "Rent" whenever used herein refers to the Tenant and the contractor for the services included in the Outgoingsaggregate of all these amounts. If direct contractual relationships between Landlord permits Tenant to occupy the Premises to conduct business operations therein without requiring Tenant and to pay rental payments for a contractor cannot be establishedperiod of time, the Landlord waiver of the requirement to pay rental payments shall direct only apply to waiver of the Base Rent and Tenant shall otherwise perform all such contractors to account on other obligations of Tenant required hereunder. The Rent for any fractional part of a monthly basis directly to Tenant (calendar month at the commencement or shall provide copies on a monthly basis termination of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which Lease term shall be made by Tenant to a prorated amount of the applicable contractor within Rent for a full calendar month based upon a thirty (30) days following receipt day month. The prorated Rent shall be paid on the Commencement Date and the first day of an Invoice from Landlord or contractorthe calendar month in which the date of termination occurs, as applicablethe case may be. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

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

Rent. 7.1 The (a) Tenant covenants and agrees that it shall be responsible for pay Base Rent to Landlord in the payment manner provided in Section 5(b) in equal consecutive monthly installments in advance on or before the first (1st) day of the Basic Rent annually and proportionately for any fraction each calendar month commencing as of a Lease Year from and including the Commencement Date and from and including continuing through the Rent Adjustment Date such Term. If the Term commences on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment 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 such Base Rent by a fraction, the 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 prorated pursuant to this Section 5(a), on the Commencement Date (in connection with respect Landlord’s acquisition of the Premises pursuant to the period defined in the next sentence below)Purchase Agreement. ​ (b) For purposes of this Lease, the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement DateBase Rent, the Tenant shall pay all OutgoingsReal Estate Taxes, VAT the Utility Charges and any and all other taxes amounts, sums, charges, liabilities and obligations which Tenant assumes or sums whatsoever 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 become payable or refundable by “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which Tenant is or may become liable to indemnify Landlord and the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord Indemnified Parties under this Lease (including reasonable attorneys’ fees and court costs) shall be deemed to be Rent. 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, deduction, or setoff under any circumstances, in accordance with the Basic Rentwire or ACH information as Landlord designates to Tenant in writing from time to time. (c) Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if ​ any installment of Rent due to Landlord is not paid within two (2) business days after delivery of written notice from Landlord to Tenant of Tenant’s failure to pay Rent when due (provided, however, that Tenant shall only be entitled to such notice and cure one (1) time in any consecutive twelve (12)- month period during the Term), Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) five percent (5%) of the delinquent installment of Rent and (ii) the highest amount allowed by Law (each a “Late Charge”). 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 ▇▇▇▇▇▇. 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 (including the amount of any Late Charge) due to Landlord shall accrue interest at the Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such Late Charge or such interest shall not constitute a waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be made against Invoices issued responsible for payment of all interest, late charges, and other costs and fees imposed by third parties with respect to late payments of Utility Charges or other third-party charges that are the Landlord to the Tenantresponsibility of Tenant hereunder. (d) For any non-scheduled payment of Rent hereunder that is payable by ▇▇▇▇▇▇ on demand by ▇▇▇▇▇▇▇▇, such shall be due twenty (20) days following written demand therefor by ▇▇▇▇▇▇▇▇, without abatement, deduction, or setoff under any circumstances.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Sierra Bancorp), Purchase and Sale Agreement (Sierra Bancorp)

Rent. 7.1 The Tenant covenants Lessee shall pay Base Rent in the amounts and at the times set forth in Exhibit B. The Lessee agrees and acknowledges that it Exhibit B may be amended at any time: (i) to reamortize the Principal Component in the event moneys are transferred from the Acquisition Fund upon completion of the Project and applied to the prepayment of lease Principal; or (ii) upon any other partial prepayment of the Purchase Price. If the Lessor determines that an amendment to Exhibit B is appropriate, CoLT will mail to the Lessee a revised Exhibit B (identified by date or other means), by first class mail, postage prepaid. Said amendment will become effective and will for all purposes become a part of this Lease and will reflect Base Rent to be paid by the Lessee for subsequent periods (unless Exhibit B is further amended as provided in this Section) upon the earlier of the acknowledgment thereof by the Lessee or automatically on the next payment date set forth in the revised Exhibit B. The Lessee will pay Additional Rent within fifteen (15) days after a written request therefor is mailed to the Lessee by or on behalf of the Lessor. Any Lease Payment that is not paid when due shall be responsible bear interest thereon at the Late Payment Rate. To the extent the Lessor advances any funds for the payment of any amounts due hereunder or to cure any Event of Default hereunder, the Basic Lessee shall immediately reimburse the Lessor therefore with interest accrued on such amount at the Late Payment Rate. Amounts due pursuant to this paragraph will be deemed to be Additional Rent annually due and proportionately for any fraction of a payable when incurred and without further written demand therefor. Each Lease Year from Payment will be applied to amounts then due and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the payable: (i) first rent payment on the Commencement Date (with respect to the period defined in Interest Component of Base Rent, (ii) second to the next sentence below)Principal Component of Base Rent, (iii) third to Additional Rent, and (iv) fourth to the components of Base Rent that are not Interest Component or Principal Component. This Lease will be deemed and construed to be a "net lease," and the Lessee will pay absolutely net during the Lease Term, the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any Payments and all other taxes payments required hereunder, free of any deductions, and without abatement, deduction or sums whatsoever as become set-off (other than credits against Lease Payments expressly provided for in this Lease). Notwithstanding any dispute between Lessee and Lessor or a dispute between Lessee and any Project related vendors, Lessee shall make all Lease Payments when due and shall not withhold any Lease Payments pending final resolution of such dispute nor shall Lessee assert any right of set-off or counterclaim against its obligations to make such payments required under this Lease. Lease Payments shall be payable or refundable by the Tenant to the Landlord under Disbursing Agent at the provisions of Clause 10.9 of this Leaseplace set forth in Exhibit B or at such other place as the Disbursing Agent may from time to time designate in writing. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4a) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in Section 1(h) hereof and as determined pursuant to Section 3(d) hereof. Such rental shall be payable in advance, VAT in equal monthly installments upon the first day of each and any every month throughout the term of 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 taxes 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 whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to [***] in excess of the applicable contractor within thirty “Prime Rate” published from time to time by The Wall Street Journal (30) days following receipt hereinafter referred to as the “Interest Rate”). In addition, if any payment of an Invoice from Landlord or contractorrent is not paid when due, as applicable. 7.4 If required by the Landlord, the Tenant shall pay to Landlord a late charge equal to [***] of each late payment. Landlord shall have no obligation to accept less than the Basic Rent reserved full amount of all installments of rental and interest thereon and all charges hereunder which are due and owing by Clause 7.1 Tenant to Landlord, and VAT by wire transfer if Landlord shall accept less than the full amount owing, Landlord may apply the sums received towards any of Tenant’s obligations at ▇▇▇▇▇▇▇▇’s discretion. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or banker's standing order the interest provided for therein on up to a bank account or bank accounts (but not more than two (2)) either occasions during each calendar year, provided such payments are made to Landlord within ten (10) days after ▇▇▇▇▇▇’s receipt of written notice that the same are past due. (c) Landlord’s failure to timely ▇▇▇▇ ▇▇▇▇▇▇ shall in Germany no way excuse Tenant from its payment obligations or another country which the Landlord has notified in writing constitute a waiver of Landlord’s entitlement to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne any charges not timely billed by Landlord. 7.5 Any payments from the Tenant to the Landlord (d) ▇▇▇▇▇▇ agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued paid to Landlord by the Landlord (i) check mailed to the address set forth in Section 1(o) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of immediately available funds, or (iii) electronic funds transfer.

Appears in 2 contracts

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

Rent. 7.1 The Tenant covenants and agrees that it In consideration of this Lease, during the Term, Lessee shall be responsible pay to Lessor the amounts set forth in Exhibit C as annual basic rent for the payment of the Premises (“Basic Rent”). Lessee shall pay Basic Rent annually and proportionately for all other sums payable to Lessor hereunder to Lessor (or, upon Lessor’s request, to any fraction mortgagee(s) or beneficiary(ies) identified by Lessor (whether one or more, the “Mortgagee”) under any mortgages, deeds of trust or similar security instruments creating a Lease Year from lien on the interest of Lessor in the Premises (whether one or more, the “Mortgage”)) by wire or ACH transfer, in immediately available funds, as follows: The PrivateBank and including the Commencement Date and from and including the Rent Adjustment Date Trust Company Chicago, Illinois ABA#: 071 006 486 Account#: Acct Name: NL Ventures VII, L.P. Attention: ▇▇▇▇ ▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇, or at such other address or to such other person as Lessor from time to time may designate. Lessor shall give Lessee not less than fifteen (15) days prior written notice of any change in the address to which such payments are to be made. If the party entitled to receive Basic Rent as may become or such party’s address shall change, Lessee may, until receipt of notice of such change from the party entitled to receive Basic Rent or other sums payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect hereunder immediately preceding such change, continue to pay Basic Rent and other sums payable hereunder to the period defined party to which, and in the next sentence below)manner in which, the preceding installment of Basic Rent or other sums payable hereunder, as the case may be, was paid. Such Basic Rent shall be divided into four (4) paid in equal portions and each portion will be paid quarterly monthly installments in advance on the first day of each month, except for any Basic Rent Payment Date in every Lease Year. The first (1st) rent payment due for the rental of the Premises during the Interim Term which shall be payable in advance on or before the date hereof. Any rental payment made on the Commencement Date and to be in respect of a period which is less than one month shall be prorated by multiplying the period from then applicable monthly Basic Rent by a fraction the numerator of which is the number of days in such month with respect to which rent is being paid and including the Commencement Date to denominator of which is the total number of days in such month. Lessee shall perform all its obligations under this Lease at its sole cost and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From expense, and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant, and other sums payable hereunder when due and payable, without notice or demand.

Appears in 2 contracts

Sources: Lease Agreement (Gordmans Stores, Inc.), Lease Agreement (Gordmans Stores, Inc.)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including to pay to Landlord, or as directed in writing by Landlord, commencing on the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment Commencement Date, and thereafter monthly, in advance, on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) day of each and every calendar month during the Lease Term (except that the first month’s rent payment shall be due upon execution of this Lease), a sum equal to the Monthly Rent specified in Section 1,2(k) and Exhibit B, plus applicable Florida Sales Tax and any use taxes levied or assessed against all rental payments, at Landlord’s Address as set forth in Section 1.2(b) or at such other place as Landlord may from time to time designate by written notice. Until notice of some other designation is given, Rent and all other charges for which provision is herein made shall be paid by remittance payable to Landlord, and all remittances so received as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. Rent for any partial month shall be prorated on a daily basis, and if the Lease Term commences on a day other than the first day of a calendar month, the first payment which Tenant makes to Landlord shall be payable on the Commencement Date and shall be equal to be in respect a proportionate part of the period monthly installment of Rent for the partial month from and including the Commencement Date to and including the Working Day immediately preceding last day of the next following calendar month in which such Commencement Date occurs, plus the installment of Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoingssucceeding calendar month. If direct contractual relationships between the Other charges payable by Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement)basis, payment of which if hereinafter provided, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion; and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. Except as herein expressly otherwise provided, the Rent and all additional rent and other charges for which provision is made in this Lease (“Rent”) shall be paid by Tenant to the applicable contractor within thirty (30) days following receipt Landlord without setoff, deduction or abatement. Any installment of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant rent which is not paid when it becomes due shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order be subject to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment late charge of the Basic Rentmaximum interest allowed by Law and an administrative overhead charge of Twenty and 00/100 Dollars ($20.00) shall be made against Invoices issued by the Landlord to the Tenantper day overdue until that installment of rent has been paid.

Appears in 2 contracts

Sources: Lease Agreement (La Rosa Holdings Corp.), Lease Agreement (La Rosa Holdings Corp.)

Rent. 7.1 1.01. Tenant hereby agrees to pay to Landlord basic annual rent (the “basic annual rent”) as set forth in Section (h) of the Reference Page hereof. The Tenant covenants and agrees that it basic annual rent shall be responsible paid by Tenant in equal monthly installments in advance on the first day of each calendar month during the Term from and after the Rent Commencement Date, at the office of Landlord or such other place as Landlord may designate, without any setoff or deduction whatsoever, except such deductions as are specifically referred to in Articles 10 and 14 hereof (or as otherwise specifically set forth in this Lease, if at all). The first full month’s installment of basic annual rent shall be paid by Tenant to Landlord upon the execution of this Lease. Should the Rent Commencement Date fall on any day other than the first day of a month, then the basic annual rent for such month shall be pro-rated on a per diem basis, and Tenant agrees to pay the amount thereof for such partial month on the Rent Commencement Date. 1.02. Tenant shall pay the basic annual rent and all additional rent payable hereunder in lawful money of the United States by check (subject to collection) drawn to Landlord’s order on a bank which is a member of the New York Clearinghouse Association or a successor thereto, or a New Jersey bank. All sums, other than basic annual rent, payable by Tenant hereunder shall be deemed additional rent and shall be payable on demand unless other payment dates are hereinafter provided. Landlord shall have the same rights and remedies (including, without limitation, the right to commence a summary dispossess proceeding) for a default in the payment of the Basic Rent annually and proportionately additional rent as for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined default in the next sentence below)payment of basic annual rent notwithstanding the fact that Tenant may not then also be in default in the payment of basic annual rent. (a) If Tenant shall fail to pay when due any installment of basic annual rent or any payment of additional rent, the Basic Rent then Tenant shall be divided into four pay Landlord, as additional rent, a late charge equal to three (43%) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Yearpercent of such installment or payment as compensation for Landlord’s additional administrative expenses relating to such late payment. The first (1st) time in any single calendar year that an installment of basic annual rent or additional rent is not paid when due, for that one (1) time only, the aforementioned late charge shall not be imposed if the unpaid amount is paid in full by the date falling fifteen (15) days after the due date. If, in any calendar year, all installments of basic annual rent and all payments of additional rent are paid when due, then, the late charge waiver applicable to subsequent calendar years shall nonetheless be limited to just one (1) single instance per calendar year. (b) If Tenant shall fail to pay when due any installment of basic annual rent or any payment of additional rent, Tenant shall pay in addition to the late charge provided in said paragraph (a) interest on all such amounts (including the late charge) at the Interest Rate (as said term is defined in Article 22 hereof), from the date when such installment or payment shall have become due to the date of payment thereof, and such interest shall be made deemed additional rent. The first (1st) time in any single calendar year that an installment of basic annual rent or additional rent is not paid when due, for that one (1) time only, the aforementioned interest payment shall not be imposed if the unpaid amount is paid in full by the date falling fifteen (15) days after the due date. If, in any calendar year, all installments of basic annual rent and all payments of additional rent are paid when due, then, the interest payment waiver applicable to subsequent calendar years shall nonetheless be limited to just one (1) single instance per calendar year. (c) The provisions of this Section 1.03 are in addition to all other remedies available to Landlord for nonpayment of basic annual rent or additional rent. 1.04. Landlord agrees that no basic annual rent shall be due from Tenant that is solely attributable only to the period (“Free Rent Period”) beginning on the Commencement Date and ending on the day immediately prior to be in respect of the period from and including the Rent Commencement Date (as the same may be extended pursuant to and including the Working Day immediately preceding terms of this Lease). If, prior to the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, a monetary breach and/or a material non-monetary breach occurs under the Tenant shall pay all OutgoingsLease (after receipt of any required written notice and beyond the expiration of any applicable grace period), VAT and then, in addition to any and all other taxes or sums whatsoever as rights and remedies of Landlord, Tenant shall become payable or refundable by the Tenant immediately obligated to: (i) pay Landlord at once in a single lump sum an amount equal to the full amount of basic annual rent waived, calculated as though basic annual rent had been due under Section (h)(i) of the Reference Page hereof, and (ii) pay Landlord basic annual rent under Section (h) of the provisions Reference Page at all times after the date of Clause 10.9 such monetary breach and/or material non-monetary breach (which remains uncured after receipt of this Lease. 7.3 The Tenant shall, any required written notice and beyond the expiration of any applicable grace period) as if possible, ensure that direct contractual relationships are established between the Tenant and Free Rent Period ended on the contractor for the services included in the Outgoingsdate of such breach. If direct contractual relationships between the Tenant date of such monetary breach and/or material non-monetary breach (which remains uncured after receipt of any required written notice and beyond the expiration of any applicable grace period) occurs on a contractor cannot be establisheddate other than on the first (1st) day of a calendar month, then, the Landlord shall direct all basic annual rent for such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which partial month shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to equitably prorated in a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne manner reasonably determined by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Sublease Agreement (Scynexis Inc), Office Lease (Optimer Pharmaceuticals Inc)

Rent. 7.1 The Tenant covenants and agrees (a) Lessee shall pay to Lessor in cash or by check as rent for the Equipment during the Lease Term, the amounts provided for in the Rental Schedule ("Basic Rent") for such Equipment on the dates designated therein ("Payment Dates"), at the location of Lessor set forth therein, or at such other address or to such other person or entity as Lessor, from time to time, may designate. (b) Lessee shall also pay to Lessor, upon notice by Lessor to Lessee that it payment is due, any sums other than for Basic Rent that Lessee at any time shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under required to pay Lessor pursuant to the provisions of SCHEDULE 2this Lease, including but not limited to sums payable by reason of payments by Lessor to any Vendors in advance of the delivery of such Equipment or the commencement of the Lease Term for such Equipment, together with every additional charge, interest and cost which may be added for non-payment or late payment of any such sums or of Basic Rent. Following All such sums shall be additional rent ("Additional Rent") and Lessor shall provide Lessee with notification as to the first rent amount of any Additional Rent. If Lessee shall fail to pay any Additional Rent, Lessor shall have all rights, powers and remedies with respect thereto as are provided herein or by law in the case of non-payment of Basic Rent. (c) With respect to any amount of Basic Rent or Additional Rent not received by Lessor within three days from when due hereunder, Lessee shall pay to Lessor interest on such amount from the Commencement Date due date thereof until payment is received by Lessor at two percent per month or the highest rate of interest on amounts past due that is not unlawful, whichever is lower (the "Default Interest Rate"). Additionally, with respect to the period defined in the next sentence below)each such instance of late payment, the Lessee shall pay to Lessor, within three days of notification that such payment is due, a collection fee of $500, which fee approximates Lessor's administrative costs, at minimum, to collect such unpaid Basic Rent or Additional Rent. (d) LESSEE AGREES THAT TIME IS OF THE ESSENCE TO LESSOR IN LESSEE'S MAKING PAYMENTS OF BASIC RENT AND ADDITIONAL RENT WHEN SUCH PAYMENTS BECOME DUE. (e) This Lease is a net-net-net lease and, notwithstanding any other provisions of this Lease, it is intended that Basic Rent and Additional Rent shall be divided into four paid without notice, demand, counterclaim, setoff, deduction or defense and without abatement, suspension, deferment, diminution or reduction. Lessee shall perform all its obligations under this Lease at its sole cost and expense. Except to the extent otherwise expressly specified herein, the obligations and liabilities of Lessee hereunder shall in no way be released, discharged or otherwise affected for any reason, including, without limitation: (4i) equal portions and each portion will be paid quarterly any defect in advance the condition, quality or fitness for use of the Equipment or any part thereof; (ii) any damage to, removal, abandonment, salvage, loss, scrapping or destruction of or any requisition or taking of the Equipment or any part thereof; (iii) any restriction, prevention or curtailment of or interference with any use of the Equipment or any part thereof; (iv) any defect in title or rights to the Equipment or any lien on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made such title or rights or on the Commencement Date and to be Equipment; (v) any change, waiver, extension, indulgence or other action or omission in respect of any obligation or liability of Lessor; (vi) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceedings relating to Lessee or any action taken with respect to this Lease by any trustee or receiver of Lessee or by any court, in any such proceeding; (vii) any claim that Lessee has or might have against any Person (as hereinafter defined), including without limitation Lessor; (viii) any failure on the period from and including part of Lessor to perform or comply with any of the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Dateterms hereof or of any other agreement; (ix) any invalidity, the Tenant shall pay all Outgoingsunenforceability or disaffirmance of this Lease or any provision hereof against or by Lessee; or (x) any other occurrence whatsoever, VAT and any and all other taxes whether similar or sums whatsoever as become payable or refundable by the Tenant dissimilar to the Landlord under foregoing, whether or not Lessee or Lessor shall have notice or knowledge of any of the provisions of Clause 10.9 of foregoing. To the extent permitted by law, Lessee waives all rights now or hereafter conferred by statute or otherwise to quit, terminate, cancel, rescind or surrender this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors or to account on a monthly basis directly to Tenant (any diminution or shall provide copies on a monthly basis reduction of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved or Additional Rent payable by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by LandlordLessee hereunder. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Master Equipment Lease Agreement (Cinema Ride Inc), Master Equipment Lease Agreement (Orthovita Inc)

Rent. 7.1 Unless otherwise agreed upon, the tenant shall ensure that the rent is delivered to the address provided by the landlord. Rent payments are due on the day of each . The Tenant covenants and agrees that tenant must pay the rent on time. If the rent is not paid on the date it shall be responsible is due, the landlord may charge a late payment fee of $10.00 for the first day the rent is due and $2.00 a day after that until the rent is paid in full (maximum late payment fee – $100.00). The landlord may also give the tenant a Notice of Termination for Non-Payment of Rent. The tenant agrees to pay rent to the landlord in the following amount: Basic Rent: $ For parking spaces: $ Other (specify): $ Rent annually and proportionately for any fraction of Payable $ Less Rent Discount* $ Actual Amount Tenant Must Pay: $ (Complete this section if a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment increase on the Commencement Date rental unit is due before the date this agreement ends.) The landlord plans to increase the rent by the annual rent increase guideline on (date) . The landlord must provide the tenant with respect a Notice of Rent Increase at least 3 months before the rent is increased. The landlord plans to apply for a rent increase above the period defined in guideline to increase the next sentence below), the Basic rent on (date) . The proposed Rent shall be divided into four (4) equal portions and each portion Payable will be paid quarterly in advance on each Rent Payment Date in every Lease Year$ . The first landlord must provide the tenant with a Notice of Rent Increase at least 3 months before the rent is increased. (1stComplete this section if there is a rent discount.) *Rent Discount A landlord is not required to offer a rent payment shall discount, but if a discount is given, it must be made on the Commencement Date and to be set out in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on writing. Reducing or removing a daily basis. 7.2 From and including the Commencement Daterent discount is not considered a rent increase under The Residential Tenancies Act. However, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor an unconditional discount cannot be establishedreduced or removed unless the tenant receives written notice of at least 3 months. If a tenancy agreement or discount agreement is for a fixed term, a landlord cannot reduce or remove an unconditional discount during the term of the agreement. If a discount is subject to a condition, e.g. paying the rent on time, the Landlord shall direct all such contractors landlord can withdraw it without notice if the tenant does not meet the condition. The landlord is offering a rent discount of $ subject to account on a monthly basis directly to Tenant the following conditions: (or shall provide copies on a monthly basis Provide details of any such accounting statements provided by such contractor conditions – add additional pages if necessary) (Complete this section, if this form is being used to Landlord together with the applicable statement), payment of which shall be made by Tenant renew an existing tenancy agreement or there is a change to the applicable contractor within thirty (30discount during the term of this agreement.) days following receipt of 🞏 Discount is the same as last year’s or increased by $ . 🞏 Discount is reduced by $ . 🞏 Discount is removed. 🞏 The proposed Rent Payable is subject to an Invoice from Landlord application to the Residential Tenancies Branch for an above-guideline rent increase. The discount may be reduced or contractor, as applicable. 7.4 If required by removed depending on the Landlordfinal decision on the landlord’s application. In any event, the Actual Amount Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but Must Pay will not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlordexceed $ . 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Standard Residential Tenancy Agreement, Standard Residential Tenancy Agreement

Rent. 7.1 (a) Subtenant shall pay to Sublandlord rent (“Fixed Rent”) at the then applicable rate set forth on Exhibit B attached hereto, subject to the terms of this Sublease. (b) The Tenant covenants and agrees that it first monthly installment of Fixed Rent shall be responsible for payable on the payment Rent Commencement Date (as hereinafter defined). Subsequent installments of Fixed Rent shall be paid in advance in equal monthly installments on the first day of each month of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including Term. If the Commencement Date shall not be the first day of a month, Fixed Rent shall be prorated on a per diem basis. The installment of Fixed Rent for the calendar month in which the Expiration Date occurs shall be prorated on a per diem basis if the Expiration Date does not occur on the last day of the month. (c) Fixed Rent and from and including the Rent Adjustment Date such all other Basic Rent as may become amounts (“Additional Rent”) payable by Subtenant to Sublandlord under the provisions of SCHEDULE 2this Sublease shall be paid promptly when due, without notice or demand therefor, and without deduction, abatement, counterclaim or setoff, except as otherwise expressly provided in this Sublease. Following Fixed Rent and Additional Rent shall be paid to Sublandlord in lawful money of the first rent United States by check at such address or, at Subtenant’s option, wire transfer or ACH to such account of Sublandlord as shall be designated by Sublandlord in writing from time to time on not less than ten (10) business days’ prior written notice. No payment by Subtenant or receipt by Sublandlord of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the earliest stipulated Fixed Rent or Additional Rent; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and Sublandlord may accept any check or payment without prejudice to Sublandlord’s right to recover the balance due or to pursue any other remedy available to Sublandlord. Any provisions in the Prime Lease incorporated herein by reference (whether capitalized or lower case) referring to “fixed rent,” “annual rent,” “base rent,” “rent,” “additional rent,” “escalations,” “payments” or “charges” or words of similar import shall be deemed to refer to Fixed Rent and Additional Rent due under this Sublease. (d) Notwithstanding anything to the contrary contained herein, so long as this Sublease is in full force and effect, the Fixed Rent and the Additional Rent pursuant to Article 6 of the Prime Lease payable by Subtenant hereunder shall be abated from the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from through and including the date immediately prior to the Rent Commencement Date (the “Rent Abatement”). If this Sublease shall terminate due to a default by Subtenant hereunder, then the entire amount of the unamortized portion of the Rent Abatement applied to Fixed Rent, amortized over the stated term of this Sublease, shall immediately become due and including payable by Subtenant to Sublandlord. For the Working Day immediately preceding purposes of this Sublease, the next following term “Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date” shall mean May 1, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease2023. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Sublease (Pershing Square Holdco, L.P.), Sublease (Pershing Square Holdco, L.P.)

Rent. 7.1 The A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and agrees that it Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be responsible for paid concurrently with the payment payments of the Basic Rent annually on which the tax is based. Base Rent and proportionately Additional Rent for any fraction each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a Lease Year from month or terminates on a day other than the last day of a month, then the installments of Base Rent and including the Commencement Date and from and including the Additional Rent Adjustment Date for such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment month or months shall be prorated, based on the Commencement Date number of days in 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 three (3) days after notice from Landlord with respect to the period defined first two (2) late payments in the next sentence below)any calendar year. In addition, the Basic if Tenant fails to pay any installment of Base Rent shall be divided into four and Additional Rent or any other item of Rent when due and payable hereunder, a “Late Charge” equal to five percent (45%) equal portions and each portion of such unpaid amount will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date due and to be in respect of the period from and including the Commencement Date to and including the Working Day payable immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty Landlord, provided, Tenant shall be entitled to a grace period of three (303) days following receipt of an Invoice after notice from Landlord or contractor, as applicable. 7.4 If required by with respect to the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than first two (2)) either late payments in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlordany calendar year. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 2 contracts

Sources: Office Lease Agreement (Lpath, Inc), Office Lease (Enernoc Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4a) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in Section 1(g) hereof. Such rental shall be payable in advance, VAT in equal monthly installments upon the first day of each and any every month throughout the term of 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 taxes 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 whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to two percent in excess of the applicable contractor within thirty “Prime Rate” published from time to time by The Wall Street Journal (30) days following receipt hereinafter referred to as the “Interest Rate”). In addition, if any payment of an Invoice from Landlord or contractorrent is not paid when due, as applicable. 7.4 If required by the Landlord, the Tenant shall pay to Landlord a late charge equal to three and one half percent of each late payment. Landlord shall have no obligation to accept less than the Basic Rent reserved full amount of all installments of rental and interest thereon and all charges hereunder which are due and owing by Clause 7.1 Tenant to Landlord, and VAT by wire transfer if 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. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or banker's standing order the interest provided for therein on up to two occasions during each calendar year, provided such payments are made to Landlord within ten 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 bank account or bank accounts (but waiver of Landlord’s entitlement to any charges not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne timely billed by Landlord. 7.5 Any payments from the (d) Tenant to the Landlord agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued paid to Landlord by the Landlord (i) check mailed to the address set forth in Section 1(l) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of immediately available funds, or (iii) electronic funds transfer.

Appears in 2 contracts

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

Rent. 7.1 The (a) Tenant covenants and agrees that it shall pay to Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in Paragraph 1(g) hereof. Such rental shall be responsible payable in advance, in equal monthly installments upon the first day of each and every month throughout the term of 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. The installment of Rental for the payment first full month of the Basic term during which Rental is payable hereunder shall be paid by Tenant to Landlord on or before August 2, 2004. (b) Rent annually and proportionately all other charges hereunder shall promptly be paid without prior demand therefor and without deductions or setoffs for any fraction reason whatsoever, except as expressly herein provided, and overdue rent and any other sums payable by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to [***] in excess of the “Prime Rate” published from time to time by The Wall Street Journal (hereinafter referred to as the “Interest Rate”). Landlord shall have no obligation to accept less than the full amount of all installments of rental and interest thereon and all charges hereunder which are due and owing by Tenant to Landlord, and if 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. (c) Landlord’s failure to timely ▇▇▇▇ Tenant shall in no way excuse Tenant from its payment obligations or constitute a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under waiver of Landlord’s entitlement to any charges not timely billed by Landlord. Notwithstanding the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4Paragraph 4(c) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallhereof, if possible, ensure that direct contractual relationships are established between Landlord fails to include any charge in Expenses or Taxes or otherwise ▇▇▇▇ the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly same to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany years after such Expense, Tax or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to is incurred, such account exceeds the cost to wire transfer such funds to an account in GermanyExpense, then such excess Tax or cost shall not be borne payable by LandlordTenant. 7.5 Any payments from the (d) Tenant to the Landlord agrees that all Rental and additional rent (collectively “Rent”) due under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued paid by the check to Landlord mailed to the address set forth in Paragraph l(n) hereof or such other address as Landlord shall designate by written notice to Tenant.

Appears in 2 contracts

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

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4a) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto Landlord as rental for the Premises during each year of the term of this Lease the amount set forth in Section 1(g) hereof. Such rental shall be payable in advance, VAT in equal monthly installments upon the first day of each and any every month throughout the term of 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 taxes 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 whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to Landlord hereunder shall bear interest during delinquency until paid at a rate of interest equal to two percent (2%) in excess of the applicable contractor within thirty “Prime Rate” published from time to time by The Wall Street Journal (30) days following receipt hereinafter referred to as the “Interest Rate”). In addition, if any payment of an Invoice from Landlord or contractorrent is not paid when due, as applicable. 7.4 If required by the Landlord, the Tenant shall pay to Landlord a late charge equal to three and one half percent (3.5%) of each late payment. Landlord shall have no obligation to accept less than the Basic Rent reserved full amount of all installments of rental and interest thereon and all charges hereunder which are due and owing by Clause 7.1 Tenant to Landlord, and VAT by wire transfer if Landlord shall accept less than the full amount owing, Landlord may apply the sums received towards any of Tenant’s obligations at ▇▇▇▇▇▇▇▇’s discretion. Notwithstanding the foregoing, Tenant shall not be required to pay the late charge or banker's standing order the interest provided for therein on up to a bank account or bank accounts (but not more than two (2)) either occasions during each calendar year, provided such payments are made to Landlord within ten (10) days after ▇▇▇▇▇▇’s receipt of written notice that the same are past due. (c) Landlord’s failure to timely ▇▇▇▇ ▇▇▇▇▇▇ shall in Germany no way excuse Tenant from its payment obligations or another country which the Landlord has notified in writing constitute a waiver of Landlord’s entitlement to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne any charges not timely billed by Landlord. 7.5 Any payments from the Tenant to the Landlord (d) ▇▇▇▇▇▇ agrees that all Basic Rental and additional rent (collectively “Rent”) due under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued paid to Landlord by the Landlord (i) check mailed to the address set forth in Section l(n) hereof or such other address as Landlord shall designate by written notice to Tenant, (ii) wire transfer of immediately available funds, or (iii) electronic funds transfer.

Appears in 2 contracts

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

Rent. 7.1 In consideration of this lease. Tenant promises and agrees to pay Landlord rent for said premises at the rate of $3,643.58 per month. One such monthly installment together with a security deposit equal to 3,000.00 shall be payable by Tenant to Landlord in advance, without demand, upon Tenant's execution of this lease, and like a monthly installment shall be due and payable on or before the first day of each succeeding calendar month during the term hereof. Rent for any fractional month at the beginning or end of the lease term shall be prorated. The security deposit shall be held by Landlord as security for the performance by Tenant of Tenant's covenants and agrees obligations under this lease, it being expressly understood that it such deposit shall not be responsible for the considered an advance payment of rental or a measure of Landlord's damages in case of default by Tenant. Upon the Basic Rent annually occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy, use such deposit to the extent necessary to make any good any arrearages of rent and proportionately for any fraction other damage, injury, expense, or liability caused to Landlord by such event of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2default. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect any such application of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Datesecurity deposit, the Tenant shall pay all Outgoingsto 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, VAT and any and all other taxes or sums whatsoever as become payable or refundable remaining balance of such deposit shall be returned by Landlord to Tenant upon termination of this lease. If Landlord transfers its interest in the Tenant demised premises during the lease term, Landlord shall assign the security deposit to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant transferee and the contractor thereafter shall have no further liability for the services included in return of such security deposit. In the Outgoings. If direct contractual relationships between event Tenant fails to pay any installment of rent or other incurred expense hereunder as and when such installment is due, to help defray the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor additional cost to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the for processing such late payments Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order Landlord on demand a late charge in an amount equal to a bank account or bank accounts five percent (but not more than two (2)5%) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany such installment; and the cost failure to wire transfer Basic Rent and VAT to pay such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost amount within ten (10) days after demand therefor shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment an event of the Basic Rent) default hereunder. The provision for such late charge shall be made against Invoices issued by the Landlord in addition to the Tenantall of Landlord's other rights and remedies hereunder or at law and shall not be construed as liquidated damages or as limiting Landlord's remedies in any manner.

Appears in 1 contract

Sources: Lease Agreement (Grand Slam Licensing Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment pay Landlord without demand, deduction or offset, in lawful money of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)United States, the Basic Rent shall be divided into four (4monthly rental as outlined in section l(d) equal portions and each portion will be paid quarterly in advance on or before the first day of each Rent Payment Date in every month during the Lease Year. The first (1st) rent payment shall be made Term beginning on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, together with any other additional payments due to Landlord, including Operating Costs (collectively the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord “Rent”) when required under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between . Payments for any partial month at the Tenant and beginning or end of the contractor for the services included in the OutgoingsLease term shall be prorated. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made sums payable by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease are not received by the fifth (including 5th) day of each month, Tenant shall pay Landlord in addition to the amount due, for the cost of collecting and handling such late payment (“Late Charges”), an amount equal to the greater of $100 or five percent (5%) of the delinquent amount. In addition, all delinquent sums payable by Tenant to Landlord and not paid within five days of the due date, or the five (5) day cure period as outlined below, shall, at Landlord’s option, bear interest at the rate of Eighteen percent (18%) per annum, or the highest rate of interest allowable by law, whichever is less. Interest on all delinquent amounts shall be calculated from the original due date to the date of payment. Landlord’s acceptance of less than the full amount of any payment due from Tenant shall not be deemed an accord and satisfaction or compromise of such payment unless Landlord specifically consents in writing to payment of such lesser sum as an accord and satisfaction or compromise of the Basic Rent) amount which Landlord claims. Notwithstanding the foregoing, Landlord shall provide Tenant with written notice of the failure to pay and Tenant shall be made against Invoices issued by granted five (5) days after receipt of notice to submit payment in full. Tenant shall have the Landlord right to receive said written notice one (1) time per twelve month period before the aforementioned Late Charges and interest rate as outlined herein shall be assessed to Tenant.

Appears in 1 contract

Sources: Lease Agreement (Glu Mobile Inc)

Rent. 7.1 The Tenant covenants and agrees that it 4.1 Rent shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year accrue hereunder from and including 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 and including Tenant of the Prepaid Rent, to be applied to the first accruing installments of Rent. 4.2 Tenant shall pay to Landlord the Rent Adjustment Date such other Basic in monthly installments in the amounts specified in Section 1.1 above, without demand, deduction or setoff. The first monthly installment of Rent as may become shall be due and payable under on or before the provisions of SCHEDULE 2. Following Commencement Date, and installments in the respective amounts specified in Section 1.1 shall be due and payable on or before the first rent payment on day of each succeeding calendar month during the Lease Term; provided, that if the Commencement Date (with respect to should fall on a date other than the period defined in the next sentence below)first day of a calendar month, the Basic Rent there shall be divided into four (4) equal portions due and each portion will be paid quarterly in advance payable on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on or before the Commencement Date, as rental for the balance of the calendar month during which the Commencement Date and shall fall, a sum equal to be in respect that proportion of the period Rent specified for the first full calendar month as herein provided, which the number of days from and including 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 including all succeeding installments of Rent shall be payable in the Working Day immediately preceding respective amounts specified in Section 1.1 on or before the next following Rent Payment Date calculated on a daily basisfirst day of each succeeding calendar month during the Lease Term. 7.2 From 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 including agreed that the Commencement DateSecurity 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 of any other 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 pay all OutgoingsLandlord the amount that will restore the Security Deposit to its original amount. If Tenant is in default under this Lease, VAT more than 2 times within any 12 month period, irrespective of whether or not such default is cured, then, without limiting Landlord’s other rights and remedies provided for in this Lease or at law or in equity, the Security Deposit shall automatically be increased to an amount equal to 2 times the original Security Deposit, which shall be paid by Tenant to Landlord on demand. 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, to the extent allowed by the Texas Property Code, Landlord shall be permitted to retain the Security Deposit to secure the payment of any and all other taxes or sums whatsoever as become payable or refundable amounts of Rent escalations, which are provided for in this Lease, which might be due for the Tenant’s pro-rata portion of the year that Tenant had occupied the Leased Premises. The Security Deposit shall be promptly returned to Tenant if Landlord determines that no escalations are due by the Tenant to for such year. If Tenant owes any such escalations, the Landlord under same shall be deducted from the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallSecurity Deposit, and the balance thereof, if possibleany, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing remitted to the Tenant. In lieu of Tenant depositing with Landlord the Security Deposit as provided, Tenant may deposit with Landlord and thereafter maintain during the Lease Term, a letter or letters of credit in an undrawn face amount equal to $10,908.00 (the “Letter of Credit”), to serve as the Security Deposit under this Lease. In the event of such election, Tenant shall enter into a Letter of Credit Agreement with Landlord in the form attached Exhibit H (the “Letter of Credit Agreement”). Upon the occurrence of any Event of Default and the expiration of any right to cure period as provided below, Landlord may, from time to time, draw upon such Letters of Credit pursuant to the terms of the Letter of Credit Agreement, either the entire amount of the Letter of Credit or, on one or more occasions, such amounts necessary for the purpose of compensating Landlord for any sums due under this Lease. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside draws on the Letter of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer Credit, such funds to an account in Germany, then such excess cost shall be borne governed by Landlordthe same terms and provisions as the Security Deposit provided in this Section 4.3. 7.5 Any payments from the Tenant 4.4 Should Landlord fail to the Landlord receive any Rent due under this Lease (including within 5 days after such payment is due, Tenant agrees to pay Landlord as a late charge, 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 payment execution of this Lease, a Lease Guaranty Agreement in the Basic Rent) shall be made against Invoices issued form attached as Exhibit “D” executed by the Landlord to the TenantLease Guarantor.

Appears in 1 contract

Sources: Lease Agreement (Omega Protein Corp)

Rent. 7.1 The Tenant covenants and agrees that it Rent under the Leases shall be responsible prorated to Transferee for the payment period on and after the Closing Date ("Transferee's Ownership Period"), regardless of whether or not such rent has been paid to the Basic Rent annually and proportionately for Transferors. With respect to any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable rent arrearages arising under the provisions of SCHEDULE 2. Following Leases, after Closing Transferee shall pay to the first Transferors any rent payment on the Commencement Date (with respect actually collected by Transferee which is applicable to the period defined in preceding the next sentence belowClosing Date ("Transferor's Ownership Period"); provided, the Basic Rent however, that all rent collected by Transferee shall be divided into four (4) equal portions applied first to all unpaid rent accruing during Transferee's Ownership Period, and each portion will then to unpaid rent accruing during Transferors' Ownership Period. After Closing, Transferee shall take reasonable steps to recover any rent arrearages for the benefit of the Transferors, provided that in no event shall Transferee be paid quarterly required to institute any lawsuit or unlawful detainer action, and provided further that the Transferors shall pay to Transferee all amounts reasonably incurred by Transferee in advance on each Rent Payment Date in every Lease Yearcollecting such amounts. If the Transferors do not pay such reasonable collection costs, Transferee may offset such reasonable costs against any rent arrearages collected. The first Transferors shall not be permitted to take any steps to recover any rent arrearages, provided that the Transferors shall have the right to file an action prior to the Closing Date (1stand prosecute such action after the Closing Date) to recover from a Tenant any rent payment shall be made on the Commencement Date and to be in respect arrearages or other damages, so long as such action does not seek a termination of the period from Lease, and including the Commencement Transferors shall have the right after the Closing Date to and including sue ▇ ▇enant at such time as such Tenant is no longer a tenant of the Working Day immediately preceding Property or any portion thereof. To the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and extent that any and all other taxes or sums whatsoever as become payable or refundable by the Tenant Transferor receives prior to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure Closing Date any percentage rent payments that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant attributable to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord period on or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.after the

Appears in 1 contract

Sources: Contribution Agreement (Spieker Properties Inc)

Rent. 7.1 The Tenant covenants shall pay Landlord the full monthly Rent set forth above during each month of the Lease Term as rental for the Residence and agrees Landlord and Tenant hereby agree that it Rent for each month, including any partial month during the first or final month of the Lease Term, shall be responsible for payable in full and without proration with respect to the payment number of days Tenant is in possession during such month, except as otherwise expressly set forth herein with regard to Landlord's delay in delivery of the Basic Residence. Tenant acknowledges that the full amount of Rent annually and proportionately for any fraction stated is due even though the Lease Term does not encompass a full 365 days. Rent is payable in advance without demand, abatement or set-­‐off, at the office of a Lease Year from and including Landlord or at such other place(s) as Landlord may designate, on or before the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first day of each calendar month thereafter during the Lease Term. IF MAILED, THE RENT AND ALL OTHER SUMS DUE UNDER THIS LEASE SHALL BE MAILED IN SUFFICIENT TIME AND WITH ADEQUATE POSTAGE THEREON TO BE ACTUALLY RECEIVED BY LANDLORD NO LATER THAN THE FIRST DAY OF THE MONTH. ANY RENT NOT ACTUALLY RECEIVED BY LANDLORD ON OR BEFORE THE FIRST DAY OF THE MONTH SHALL BE DELINQUENT AND IN DEFAULT. IF YOU DO NOT PAY RENT ON TIME This is your notice. If you do not pay your rent payment within five days of the due date, the Landlord can start to have you evicted. You will get no other notice as long as you live in this rental unit. The parties hereby agree if Rent is not paid in full within five days from the date due, Tenant shall, in addition to any other remedies of Landlord, pay a late charge of $50.00 on the Commencement Date 5th day after the due date and an additional $10.00 per day (with respect to late fee) thereafter. Personal checks will not be accepted after the period defined tenth (10th) day of each month, as Rental payments must be in the next sentence below), form of a cashier’s check or money order if tendered after the Basic Rent shall be divided into four tenth (410th) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect day of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the month. Tenant shall pay all Outgoingsa handling charge in the amount of $30 or 5% (whichever is greater) for each dishonored check, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shalland, in addition, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be establishedapplicable, the late charges set forth above. Returned checks must be redeemed by cashier’s check, certified check or money order. All monies received by Landlord shall direct all be applied first to non-­‐rent items (outstanding charges such contractors to account as, but not limited to, late charges, cleaning service fees, returned check charges, damages incurred by or on a monthly basis directly to Tenant (or shall provide copies on a monthly basis behalf of any such accounting statements provided by such contractor to Landlord together with the applicable statementTenant), payment of which shall be made by Tenant and then to the applicable contractor within thirty (30) days following receipt of an Invoice from Rent. At Landlord’s option, Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic may require all Rent and VAT other sums to be paid in check, certified check, or money order, and by one monthly payment rather than multiple payments by each Cotenant. Landlord shall at all times have the right to refuse payment in the form of “cash” for monies due hereunder for security purposes. The liability for Rent, in addition to all other obligations hereunder, shall be joint and several among each and all of the individuals comprising Tenant. By providing a bank account located outside of Germany check for payment, Tenant is hereby given notice that Tenant’s signed and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds completed check may be converted to an account electronic fund withdrawal upon receipt by Landlord via U.S. Mail or in Germanydesignated drop box locations. Landlord’s receipt of Tenant’s check shall constitute Tenant’s authorization of such electronic fund withdrawal. Landlord has the right to not accept payment of less than the full amount of Rent, then provided, however, the acceptance by Landlord of a check for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such excess cost check that such lesser amount shall constitute payment in full, shall be borne given no effect and Landlord may accept such payment without prejudice to any other rights or remedies which Landlord may have against Tenant. Any payment, however designated, may be accepted by LandlordLandlord and applied against any part of Tenant’s then existing and then due Rent or Landlord may apply such payment against any sum then due or may retain such payment (without interest) as a credit against Tenant’s accruing future obligations. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Rental Agreement

Rent. 7.1 The Tenant covenants (a) From and agrees that it after the Sublease Commencement Date, Subtenant shall pay to Sublandlord the base rent specified in subsection (b) below (“Base Rent”). Base Rent and all other items of additional rent, charges and expenses payable by Subtenant hereunder (all of the foregoing except for Base Rent deemed, collectively, “Additional Rent”) shall be responsible 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, 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: payable as $5,000.00 per month. (c) Notwithstanding subsection (b) above, Subtenant’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 Sublease Commencement Date occurs shall be prorated to reflect the number of 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 occupancy taxes imposed in connection with this Sublease, the Subleased Premises or the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallhereunder, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Sublease (Fox Factory Holding Corp)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible to pay as rent for the payment Premises the total sum of $___________ (“Annual Rent”) at the rate of $__________ per month (“Monthly Rent”), plus a pro-rated amount should the term of the Basic Rent annually and proportionately for Lease commence on any fraction date other than the first day of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date month, without demand, to be paid at __________________, or at such other Basic address as the landlord shall direct from time to time in writing. Rent as may become payable under is due on or before the provisions _________ day of SCHEDULE 2each month (the due date). Following RENT UNPAID _____ DAYS AFTER THE DUE DATE IS DELINQUENT AND WILL AUTHORIZE ALL REMEDIES IN THE LEASE. If all rent is not received on or before the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect day _____ of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Datemonth, the Tenant agrees to pay an initial late charge of $______ plus a late charge of $____ after _____ days, if rent remains unpaid. All funds received shall be applied to: dishonored check charges; late charges; damage charges; delinquent rent; and current rent, in that order. If payment is made by check that is returned, the Tenant agrees to pay a charge of $_____ in addition to the initial and daily late charges, if applicable. The Landlord may, at any time, require that all Outgoingsrent and other sums be paid in either certified or cashier’s check, VAT and any and all other taxes money order, or sums whatsoever as become payable or refundable one monthly check rather than multiple checks. Cash shall not be accepted without the Landlord’s prior written consent, which consent shall not be unreasonably withheld. The Landlord agrees further that acceptance and/or refusal by the Landlord of the rent payment after the due date shall in no manner constitute a waiver of the Landlord’s rights in the event of the Tenant’s failure to make rental payments as herein prescribed and agreed, nor shall it be considered as a change in the date upon which the Tenant is to pay said rent. Failure to demand the rent when due shall not constitute a waiver by the Landlord, and the necessity of demand for the rent by the Landlord under when the provisions of Clause 10.9 of this Lease. 7.3 rent is overdue, is hereby waived. The Tenant shallLandlord agrees to notify the Tenant, if possiblein writing, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within at least thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing prior to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment expiration of the Basic Rent) shall be made against Invoices issued by Lease, or any renewal thereof, of any increase in the Landlord to rent charged for occupancy of the TenantPremises.

Appears in 1 contract

Sources: Rental Lease Agreement

Rent. 7.1 The Tenant covenants In consideration of this lease, ▇▇▇▇▇▇ promises and agrees that it shall be responsible to pay Landlord the Basic Rental (subject to adjustment as hereinafter provided) without demand, deduction or set off, for the payment each month of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease YearTerm. The first (1st) rent payment such monthly installment of Basic Rental shall be made payable by Tenant to Landlord on the Commencement Date and continuing thereafter on or before the first day of each succeeding calendar month during the Lease Term. Rent (herein meaning Basic Rental, as adjusted, Additional Rental, plus any other monetary sums due from Tenant to be in respect Landlord pursuant to the terms of this lease) for any fractional month at the beginning of the period from Lease Term shall be prorated based on one three hundred sixty-fifth (1/365) of the current annual Basic Rental for each day of the partial month that this lease is in effect, and including the Commencement Date to shall be due and including the Working Day immediately preceding the next following Rent Payment Date calculated payable on a daily basis. 7.2 From and including or before the Commencement Date. In the event any installment of Rent is not received within ten (l0) 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 Rent, a late payment charge equal to seven percent (7%) of the installment of the Rent, it being understood that said late payment charge shall constitute liquidated damages (but shall not void the occurrence of an event of default or eliminate any of Landlord's remedies therefor) and shall be for the purposes of reimbursing Landlord for the additional costs and expenses which Landlord presently expects to incur in connection with the handling and processing of late installment payments of the Rent; and Tenant shall pay all Outgoingsand ▇▇▇▇▇▇▇▇ agree that the damages suffered by Landlord in the event of any such late payment(s) are not capable of being ascertained precisely, VAT and any that the foregoing charge constitutes a reasonable and all other taxes or sums whatsoever as become payable or refundable good faith estimate by the parties of the extent of such damages. Notwithstanding the foregoing, such 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 Landlord under the provisions of Clause 10.9 this lease, it being understood that such advanced sums shall bear interest, which ▇▇▇▇▇▇ hereby agrees to pay to Landlord, at the lesser of this Lease. 7.3 The eighteen percent (18%) per annum or the maximum rate of interest permitted by law to be charged Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all use or forbearance of such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicablemoney. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Flashnet Communications Inc)

Rent. 7.1 A. During each calendar year, or portion thereof, falling within the Lease Term, Tenant shall pay to Landlord the Base Rental. The Tenant covenants and agrees that it Base Rental shall be responsible payable in equal monthly installments during the Lease Term, commencing as of the Preliminary Commencement Date. In the event the Preliminary Commencement Date shall occur on other than the first day of a calendar month, the Base Rental and the Parking Garage Rental, and if applicable, the Storage Space Rental shall be pro-rated for such month based upon a thirty (30) day month. D. Tenant shall also pay during the Lease Term as Excess Basic Costs hereunder the sum of (1) the Excess Taxes for the payment applicable tax year plus (2) the Excess Expenses for the applicable calendar year. The Excess Taxes and the Excess Expenses shall be computed separate and independent of each other. Prior to the Basic Rent annually and proportionately for any fraction first anniversary of a Lease Year from and including the Commencement Date and from prior to January 1 of each subsequent calendar year during the Lease Term, or as soon thereafter as practical, Landlord shall provide to Tenant the estimated amount of the Excess Expenses and including the Rent Adjustment Date such other Basic Rent as may become payable under Excess Taxes for the provisions of SCHEDULE 2applicable calendar year. Following On or before the first rent payment day of each month during such calendar year, Tenant shall pay to Landlord, as Excess Basic Costs, a monthly installment equal to one-twelfth of Landlord's estimate. Landlord shall have the right from time to time, but no more than twice, during any such calendar year to revise the reasonable estimate of Excess Basic Costs to be paid by Tenant for such year and provide Tenant with a revised statement therefor, and thereafter the amount Tenant shall pay each month shall be based upon such revised estimate. If Landlord does not provide Tenant with an estimate of the Excess Basic Costs by January 1 of any calendar year, Tenant shall continue to pay a monthly installment based on the Commencement Date (previous year's estimate until such time as Landlord provides Tenant with an estimate of such Excess Basic Costs for the current year. Upon receipt of such current year's estimate, an adjustment shall be made for any month during the current year with respect to the period defined in the next sentence below), the which Tenant paid monthly installments of Excess Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made Costs based on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the previous year's estimate. Tenant shall pay all Outgoings, VAT and Landlord any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor underpayment within thirty (30) days following receipt of an Invoice after demand. Any overpayment shall, at Landlord's option, be refunded to Tenant within thirty (30) days from the date determined by Landlord or contractorcredited against the installment of Excess Basic Costs (if any) due for the months immediately following the furnishing of such estimate provided that in the event Tenant shall then be in default hereunder in the payment of any monetary sums (excluding any sums in good faith disputed by Tenant), after notice and expiration of the applicable cure period, Landlord shall be entitled to apply any such overpayment on account of those sums then due to Landlord. Any amounts paid by Tenant based on any estimate shall be subject to adjustment pursuant to the immediately following paragraph when actual Basic Costs are determined for such calendar year. Tenant shall not be entitled to any credit or offset if Taxes decrease below the Taxes for the Tax Base Year or Expenses decrease below the Expenses for the Expense Base Year. As soon as applicable. 7.4 is practical following the end of each calendar year during the Lease Term, Landlord shall furnish to Tenant a detailed statement, certified by Landlord to be correct and including copies of any bills from taxing authorities, of Landlord's actual Basic Costs and the actual Excess for the previous calendar year. If required the estimated Excess actually paid by Tenant for the prior year is in excess of the actual Excess for such prior year, then Landlord shall apply such overpayment against Excess Basic Costs due or to become due hereunder, provided if the Lease Term expires prior to the determination of such overpayment, Landlord shall refund such overpayment to Tenant within thirty (30) days after the date of Landlord's statement of the actual Basic Costs for such year. Likewise, the Tenant shall pay to Landlord, within thirty (30) days after demand, any underpayment with respect to the prior year, whether or not the Lease has terminated prior to receipt by Tenant of a statement for such underpayment, it being understood that this clause shall survive the expiration of the Lease. E. Basic Rent reserved by Clause 7.1 Costs shall mean all costs and VAT by wire transfer expenses paid or banker's standing order to a bank account or bank accounts incurred in each calendar year in connection with operating, maintaining, repairing and managing the Building and the Property (exclusive of the Parking Garage), including, but not more than two limited to, the following: (1) Labor costs for all persons, not exceeding the rank of Building manager, performing services required or utilized in connection with the operation, repair, replacement and maintenance of and control of access to the Building and the Property, including but not limited to amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and other similar taxes, workers' compensation insurance, uniforms, training, disability benefits, pensions, hospitalization, retirement plans, group insurance or any other similar or like expenses or benefits. (2)) Management fees which shall not exceed either (i) in Germany the event Landlord or another country which an affiliate of Landlord (i.e a management company owned by, or under substantially common ownership with, Landlord) performs same, three percent (3%) of the Base Rental and Additional Base Rental (exclusive of Parking Garage Rental) or (ii) in the event an unaffiliated third party performs same, amounts in excess of arms-length competitive prices paid in the Washington, D.C. metropolitan area for such services. In the event management fees are paid to an unaffiliated third party, Landlord has notified shall also be entitled to include in writing the determination of Basic Costs administrative charges for services such as accounting, secretarial, and bookkeeping incurred with respect to the Building. Basic Costs shall also include accounting services and legal fees not attributable to leasing or collection activity or negotiations or disputes with Tenant. If . (3) Rental and/or purchase costs of materials, supplies, tools and equipment used in the operation, repair, replacement and maintenance and the control of access to the Building and the Property. (4) Amounts charged to Landlord requires Basic Rent by contractors and/or suppliers for services, replacement parts, components, materials, equipment and VAT supplies furnished in connection with the operation, repair, maintenance, replacement of and control of access to any part of the Building, or the Property generally, including the heating, air conditioning, ventilating, plumbing, electrical, elevator and other systems and equipment. (5) Premiums and deductibles paid by Landlord for all risks of physical loss insurance, earthquake and extended coverage insurance, liability and extended coverage insurance, rental loss insurance, elevator insurance, boiler insurance and other insurance customarily carried from time to time by landlords of comparable office buildings or required to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne carried by Landlord's Mortgagee. 7.5 Any payments from the (6) Charges for utilities, including but not limited to water, gas and sewer, but excluding those electricity charges which Tenant pays directly to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenantutility company or Landlord.

Appears in 1 contract

Sources: Sublease (Informax Inc)

Rent. 7.1 The 3.01 Tenant covenants shall pay the Fixed Rent in equal monthly installments in advance on the first day of each and agrees that it every calendar month beginning on the Fixed Rent Commencement Date. If the Fixed Rent Commencement Date occurs on a day other than the first day of a calendar month, the Fixed Rent for such partial calendar month shall be responsible for the payment of the Basic Rent annually prorated on a per diem basis and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment paid on the Fixed Rent Commencement Date (with respect to the period defined in the next sentence below), the Basic Date. 3.02 The Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect lawful money of the period from and including United States to Landlord by wire Transfer of immediately available funds to a bank which is a member of the Commencement Date New York Clearing House Association, or by check to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Datesuch other place, the as Landlord shall designate by notice to Tenant. Tenant shall pay all Outgoingsthe Rent promptly when due and without any abatement, VAT deduction or setoff for any reason whatsoever, except as may be expressly provided in this Lease. In case of payment by check, tenant shall assume the risk of lateness or failure of delivery of the mails, and any and all other taxes no lateness or sums whatsoever as become payable or refundable by failure of the mails will excuse Tenant from its obligation to have made the Landlord payment in question when required under the provisions of Clause 10.9 of this Lease. 7.3 The 3.03 No payment by Tenant shallor 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 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 payments of Rent, Tenant waives Tenant's right, if possibleany, ensure that direct contractual relationships to designate the items to which any payments made by Tenant are established between the Tenant to be credited, and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of may apply any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be payments made by Tenant to such items as Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the applicable contractor items to which any such payments shall be credited. 3.05 If Tenant shall fail to pay any installment of Fixed Rent within thirty five (305) days following receipt or any other item of an Invoice from Rent within twenty (20) days after the date when such payment is due and Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to have delivered a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.bill

Appears in 1 contract

Sources: Lease Agreement (Paine Webber Group Inc)

Rent. 7.1 (a) Tenant shall pay as "BASE RENT" for each Lease Year during the Initial Term the sum of Sixty-Six Thousand and No/100 Dollars ($66,000.00), payable in advance, in equal monthly installments of Five Thousand Five Hundred and No/100 Dollars ($5,500.00). If Tenant exercises its option(s) to extend the Term, Tenant shall pay as Base Rent during the Renewal Term(s) a rental based upon the "market rate" for the Premises. The first and last monthly installments are due and payable on the execution of this Lease and the remaining installments are due and payable in advance on the first day of each and every month during the Term, without offset or deduction, to Landlord at the address set forth in PARAGRAPH 26 or at such other place as Landlord may hereafter designate in writing. Rent checks are to be made payable to Landlord, or such other person, firm or corporation as Landlord may designate in writing. (b) All sums due and payable by Tenant covenants and agrees that it under this Lease other than Base Rent are "ADDITIONAL RENT", whether or not so called in the text of this Lease. Any Additional Rent for which no time for payment is specified in this Lease shall be responsible for due and payable within ten (10) days after demand is made therefor. (c) All Rent, whether Base Rent or Additional Rent, is due and payable in full without demand, deduction or set-off and Tenant's obligation to pay the payment same shall survive the expiration or other termination of the Basic this Lease. Tenant's covenant to pay Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date is an independent covenant. (with respect to the period defined in the next sentence below), the Basic d) Rent shall be divided into four equitably pro rated for any partial Lease Year or calendar year, as the case may be, during the Term. (4e) equal portions and For each portion will be paid quarterly in advance on each Rent Payment Date in every Renewal Term, Tenant shall notify Landlord that Tenant desires to exercise its option to extend the Term of this Lease Year. The first for the next ensuing five (1st5) rent payment shall be made on the Commencement Date year period, and to be in respect obtain an appraisal of the period from and including Premises to determine the Commencement Date market rent for the Premises by delivering written notice to and including Landlord not less than one hundred twenty (120) days prior to the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the beginning of each Renewal Term. Tenant shall pay all Outgoingsinclude in such notice the name of an MAI appraiser selected by Tenant which has an office in Licking County, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the OutgoingsOhio. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of such notice from Tenant give written notice to Tenant setting forth the name of a second MAI appraiser with an Invoice from office in Licking County, Ohio. If Landlord fails to notify Tenant of the name of an appraiser within the thirty (30) day period, then the appraiser selected by Tenant shall determine the market rent and the decision of said appraiser shall be binding upon the parties hereto. If Landlord has selected an appraiser in accordance with the provisions of this Paragraph, then the appraiser selected by Landlord and the appraiser selected by Tenant shall meet and select a third MAI appraiser with an office in Licking County, Ohio. The appraiser selected by Landlord and the appraiser selected by Tenant shall each appraise the Premises for purposes of obtaining said market rent. The third appraiser shall determine and notify Landlord and Tenant which of the two appraisals made by Landlord's and Tenant's appraisers more closely reflects the market rent of the Premises, and the decision of the third appraiser shall be binding upon the parties hereto. Notwithstanding anything in this paragraph to the contrary, in no event shall the Base Rent for any Renewal Term be less than the Base Rent for the previous Renewal Term or contractorthe Initial Term, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease (MPW Industrial Services Group Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible Throughout the term of this Lease, Lessee will pay monthly rent to Lessor as rent for the payment Leased Premises. Monthly rent shall consist of the Basic Rent annually and proportionately for any fraction applicable Base Monthly rent as set forth on the first page of this Lease together with all monthly charges required to be paid by Lessee to Lessor pursuant to Paragraph 5 below. Monthly rent will be paid in advance on or before the first day of each calendar month of 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, then monthly rent will be appropriately prorated by Lessor based on the actual number of calendar days in such month. Monthly rent will be paid to Lessor, without written notice or demand, and without deduction or offset, in lawful money of the United States of America at Lessor’s Address as set forth on the first page of this Lease, or to such other address as Lessor may from time to time designate in writing. Lessee hereby acknowledges that late payment by Lessee of rent and other sums due hereunder after the expiration of any applicable grace period will cause Lessor 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 Lessor by the terms of any mortgage or trust deed covering the Leased Premises. Accordingly, if any installment of rent or any other sums due from Lessee shall not be received by Lessor when due or if a grace period is applicable, prior to the expiration of the grace period, Lessee shall pay to Lessor a late charge equal to 3% of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Lessor will incur by reason of late payment by Lessee. Acceptance of such late charges by Lessor shall in no event constitute a waiver of Lessee’s default with respect to such overdue amount or prevent Lessor from exercising any of the other rights and remedies granted hereunder. Any amount due to Lessor, if not paid when due, shall bear interest from such date until paid at the rate of 10% per annum. Payment of interest shall not excuse or cure any default hereunder by Lessee. As used on the first page of this Lease Year from and including elsewhere herein, the term “Lease Year” shall mean a period of 365 consecutive days commencing with the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Yearor its anniversary. The first (1st) rent payment Lease year shall be made commence on the Commencement Date and to be in respect first day of the period from term of this Lease and including succeeding Lease Years shall commence annually thereafter. It is hereby acknowledged by the Commencement Date to and including parties that the Working Day immediately preceding the next following Rent Payment Date calculated leased premises consists of 3,127 rentable square feet (which includes a 12.5% add on a daily basis. 7.2 From and including the Commencement Datefactor AKA Loss factor for Lessee’s share of common area & public washroom). Upon execution of this lease with exhibits attached, the Tenant shall pay all Outgoings, VAT and parties waive any and all other taxes right to alter or sums whatsoever challenge either the rentable square feet as become payable calculated or refundable by the Tenant to the Landlord under the provisions any calculation in this leased based in whole or in part upon this calculation of Clause 10.9 of this Leaserentable square feet. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Midwest Banc Holdings Inc)

Rent. 7.1 The 3.01. Tenant covenants shall pay the Fixed Rent in equal monthly installments in advance on the first day of each and agrees every calendar month during the Term (except that it Tenant shall pay, upon the execution and delivery of this Lease by Tenant, the Advance Rent, to be responsible for applied against the payment first installment or installments of the Basic Fixed Rent annually and proportionately for any fraction of a Lease Year from and including becoming due under this Lease). If the Commencement Date and from and including the Rent Adjustment Date such occurs on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)day of a calendar month, the Basic Fixed Rent for the partial calendar month at the commencement of the Term shall be prorated. 3.02. The Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect lawful money of the period from and including the Commencement Date United States to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement DateLandlord at its office, the or such other place, or Landlord's agent, as Landlord shall designate by notice to Tenant. Tenant shall pay all Outgoingsthe Rent promptly when due without notice or demand therefor and without any abatement, VAT 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 and all other taxes or sums whatsoever as become payable or refundable check received by the 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 the provisions of Clause 10.9 of this Lease. 7.3 The 3.03. No payment by Tenant shallor 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 possibleany, ensure that direct contractual relationships to designate the items to which any payments made by Tenant are established between the Tenant to be credited, and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of may apply any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be payments made by Tenant to the applicable contractor within thirty (30) days following receipt such items as Landlord sees fit, irrespective of an Invoice from Landlord and notwithstanding any designation or contractor, request by Tenant as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT items to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to which any such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost payments shall be borne by Landlordcredited. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease (Lower Road Associates LLC)

Rent. 7.1 3.1 Commencing on the Applicable Commencement Date for each Premises Component and subject to the Abatement Period, ▇▇▇▇▇▇ agrees to pay to Landlord the Annual 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. The Tenant covenants and agrees that it Monthly Installment of Rent in effect at any time shall be responsible for the payment one-twelfth (1/12) of the Basic Annual Rent annually and proportionately in effect at such time. Rent for any fraction period during the Term which is less than a full month shall be a prorated portion of a Lease Year from and including the Commencement Date and from and including Monthly Installment of Rent based upon the Rent Adjustment Date number of days in such other Basic Rent as may become payable under the provisions of SCHEDULE 2month. Following the first rent payment on the Commencement Date (with respect Subject to the period defined in the next sentence below)Abatement Period, the Basic said Rent shall be divided into four paid to Landlord, without deduction or offset (4except as otherwise expressly provided in this Lease) equal portions and each portion will be paid quarterly in advance on each without notice or demand, at the Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made Address, as set forth on the Commencement Date and Reference Pages, or to be such other person or at such other place as Landlord may from time to time designate in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoingswriting. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not there have been more than two (2)) either monetary Event of Defaults under this Lease in Germany or another country which the any 24 month period, Landlord has notified in writing may require by notice to Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to ▇▇▇▇▇▇▇▇’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the Tenantnext scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. If Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord requires Basic Rent 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 VAT 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, provided, however, Tenant shall not incur any late charge for the first late payment in any twelve (12) month period. The amount of the late charge to be paid by Tenant shall be reassessed and added to a bank account located outside ▇▇▇▇▇▇’s obligation for each successive month until paid. The provisions of Germany 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 Tenant hereby acknowledges and agrees that the cost obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to wire transfer Basic Rent be payable in all events (unless this Lease expressly provides to the contrary) and VAT that the obligations of Tenant hereunder shall continue unaffected, unless the requirement to such account exceeds pay or perform the cost to wire transfer such funds same shall have been terminated pursuant to an account in Germanyexpress provision of this Lease. Landlord and ▇▇▇▇▇▇ each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder represents fair, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant reasonable, and accepted commercial practice with respect to the type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to Landlord under entering into this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the TenantLease.

Appears in 1 contract

Sources: Lease (Black Diamond Therapeutics, Inc.)

Rent. 7.1 All sums required to be paid by Tenant under this Lease constitute "rent." The Tenant covenants term "rent" or "rental", when used in this instrument, includes Base Rent and agrees that it all other sums payable hereunder. Tenant's rent payments shall be responsible for made to Landlord at Landlord's address stated above, or at any other address that Landlord may specify. Landlord shall provide Tenant written notice of any change of address at least thirty (30) business days prior to the due date of any rent payments to be made at any address other than that stated above. No payment made by Tenant or received by Landlord in an amount less than the amount herein stipulated shall be deemed to be other than a partial payment, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent or any other sum payable hereunder be deemed an accord and satisfaction, and Landlord may accept any such check or payment without prejudice to Landlord's right to recover the balance of the Basic Rent annually and proportionately for such amount from Tenant or to pursue any fraction of a other remedy in this Lease Year from and including or by law provided. Beginning with the Commencement Date and from and including continuing thereafter until the expiration of the Term (as the same may be extended), Tenant agrees to pay Landlord the Base Rent Adjustment Date such other Basic provided above in advance, without notice or demand, every month during the Term of this Lease. If any monthly Base Rent as may become payable under the provisions of SCHEDULE 2. Following payment is not received by Landlord by the first day of the month in which such rent payment on was due, Tenant shall pay, as additional rent, $25 for each day such payment is late, and such late charge shall be due upon receipt of Landlord's written demand. Notwithstanding the Commencement Date foregoing sentence, three (with respect 3) times in any twelve (12) consecutive months Tenant shall not be required to pay $25.00 for the period defined in the next sentence below)first two (2) days that a payment is late. However, the Basic $25.00 payment shall apply after the first two (2) days in all circumstances and shall apply after three (3) notices have been given in any calendar year. Tenant shall also pay to Landlord, upon demand, $100.00 for each check tendered to Landlord in payment of rent or any other payment due Landlord hereunder, which is returned uncollectible to Landlord. All Base Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisprorated for any partial month. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease (Carpenter W R North America Inc)

Rent. 7.1 The (a) Tenant covenants shall pay to Landlord as rental the amount specified in the Basic Lease Information as the Base Rent, payable in advance on the commencement of the term and agrees that it on or before the first day of each and every successive calendar month during the term. If the term commences on other than the first day of a calendar month, the first payment of rent shall be responsible for appropriately prorated on the basis of a 30-day month. (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." If such amounts are not paid at the time provided in this Lease, they shall nevertheless be a collectable as additional rent with the next installment of monthly rent thereafter falling due, but nothing herein contained shall be deemed to suspend or delay the payment of any amount of money at the Basic Rent annually time the same becomes due and proportionately for payable hereunder, or limit any fraction other remedy of Landlord. (c) Tenant hereby acknowledges that late payment by Tena▇▇ ▇▇ Landlord of rent and other amounts due hereunder after the expiration of any applicable grace period 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 trust deed covering the premises. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord when due, Tenant shall pay to Landlord a Lease Year from late charge equal to 6% of such overdue amount. The parties hereby agree that such late charge represents a fair and including reasonable estimate of the Commencement Date and from and including the Rent Adjustment Date costs Landlord will incur by reason of late payment by Tena▇▇. ▇▇ceptance of such other Basic Rent as may become payable under the provisions late charge by Landlord shall in no event constitute a waiver of SCHEDULE 2. Following the first rent payment on the Commencement Date (Tenant's default with respect to the period defined in the next sentence below)such overdue amount, the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect nor prevent Landlord from exercising any of the period from other rights and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisremedies granted hereunder. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant (d) Any amount due to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallLandlord, if possiblenot paid when due, ensure 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 that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor caninterest shall not be established, the Landlord shall direct all such contractors to account payable on a monthly basis directly to late charges incurred by Tenant (or shall provide copies nor on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of amounts upon which shall be made late charges are paid by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by extent such interest would cause the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT total interest to be paid to a bank account located outside in excess of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost that legally permitted. Payment of interest shall be borne not excuse or cure any default hereunder by LandlordTena▇▇. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Research and Development Lease (Penederm Inc)

Rent. 7.1 (a) The Tenant covenants Ground Sublessee shall pay to the Ground Sublessor the rent stipulated in Section 3.1(b) as consideration for the right to possession and agrees that it 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 responsible 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 payment first half of the Basic Rent annually remaining portion of the Site Sublease Term through the Expiration Date under the Facility Lease and proportionately for any fraction $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 Year from and including Term through the Commencement Expiration Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions Facility Lease. In the event of SCHEDULE 2any renewal of the Facility Lease, the allocated rent shall be $270,000 per calendar year (or a ratable portion thereof in the 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. Following Subject to Section 3.2 hereof, the first rent payment 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 such year shall be paid on the Commencement Date (with respect last day of the term hereof in the amount allocated to the period defined portion of the year in which this Site Sublease terminates through the next sentence belowdate of such termination), . (c) The Ground Sublessor and the Basic Rent Ground Sublessee agree that no other consideration shall be divided into four (4) equal portions due and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on payable from the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor Ground Sublessee for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicablerights granted hereunder. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Site Sublease (Keyspan Corp)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for to pay to Landlord at the payment office of the Basic Rent annually and proportionately for any fraction managing agent (the "Manager") of a Lease Year from and including the Commencement Date and from and including beneficiary of Landlord (the Rent Adjustment Date "Beneficiary"), or at such other Basic place designated by Landlord, without any prior notice or demand and without any deduction or set off whatsoever, base rent at the initial monthly rate stated in section l.l.H ("Monthly Base Rent"). Monthly Base Rent is subject to adjustment pursuant to section 22.2, and as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic adjusted is called "Adjusted Monthly Base Rent." Adjusted Monthly Base Rent shall be divided into four (4) equal portions and each portion will be paid quarterly monthly in advance on the first day of each month of the Term, except that the first installment of Monthly Base Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made paid by Tenant to the applicable contractor within thirty (30) days following receipt Landlord upon execution of an Invoice from Landlord or contractor, as applicable. 7.4 If required this Lease by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Adjusted Monthly Base Rent shall be prorated for partial months within the Term. All charges, costs and VAT sums required to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (in addition to Adjusted Monthly Base Rent shall be considered additional rent, and Adjusted Monthly Base Rent and additional rent shall be collectively called "Rent." Tenant's covenant to pay Rent shall be independent of every other covenant in this Lease. In the event Tenant desires to interconnect its telecommunications equipment with the telecommunications equipment of other tenants in the Building, Tenant may, upon obtaining Landlord's written approval, which approval shall not be unreasonably withheld or delayed, do so in accordance with the terms and conditions of this Lease, specifically including the payment terms of section 10 hereof. Notwithstanding the foregoing, Landlord shall perform all work necessary to effectuate such interconnections at commercially reasonable rates and Tenant shall reimburse Landlord for the costs of such work within ten (10) business days after receipt of an invoice from Landlord for same. The pathways granted hereunder shall not be considered a part of the Basic Rent) Premises and shall be made against Invoices issued granted as an irrevocable license (except upon an Event of Default hereunder) for use in common with Landlord and other tenants of the Building which license shall be coterminous with the Term of this Lease. Notwithstanding anything contained herein to the contrary, if any license granted by the Landlord to Tenant hereunder or under a Pathway Confirmation Agreement or Space Acceptance Agreement is revoked or terminated by Landlord except in connection with an Event of Default under this Lease, Rent due under this Lease shall abat▇ ▇▇▇mencing as the Tenantdate of such revocation and continuing until such license is restored or until Landlord has provided Tenant with substitute space in the Building. The pathway use fees shall be as set forth on Exhibit C attached hereto.

Appears in 1 contract

Sources: Lease Agreement (Universal Access Inc)

Rent. 7.1 The 2.1. Tenant covenants shall pay to Landlord at the times and agrees that it in the manner set forth in this Lease Base Rent as set forth in Article 3 hereof, Base Rent and Additional Rent as set forth in Section 3.2 hereof. Base Rent and Additional Rent are hereinafter sometimes collectively referred to as the "RENT" or "RENTS". 2.2. If Tenant shall fail to pay when due any installment of Rent for a period of (i) three (3) days, with respect to Base Rent or (ii) ten (10) days after Landlord's delivery of notice thereof to Tenant, with respect to Additional Rent, after such installment or payment, as the case may be, shall have become due, Tenant shall pay interest thereon at the Default Interest Rate, from the date when such installment or payment, as the case may be, shall have become due to the date of the payment thereof, and such interest thereon shall be responsible for the deemed Additional Rent. The imposition and/or payment of the Basic Rent annually such interest shall be in addition to all other rights and proportionately for remedies available to Landlord in case of nonpayment of Rent. 2.3. If any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the terms and provisions of SCHEDULE 2this Lease shall be or become uncollectible, reduced or required to be refunded because of any Legal Requirement, Tenant shall enter into such agreement(s) and take such other steps as Landlord may request and as may be legally permissible to permit Landlord to collect the maximum Rents which from time to time during the continuance of such legal rent restriction may be legally permissible (but not in excess of the amounts reserved therefor under this Lease). Following Upon the first termination of such legal rent payment on the Commencement Date (with respect to the period defined in the next sentence below)restrictions, the Basic Rent Rents shall become and thereafter be divided into four (4) equal portions payable in accordance with the amounts reserved herein for the periods following such termination and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto Landlord immediately following the termination of such legal rent restrictions, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under maximum extent legally permissible, an amount equal to the provisions of Clause 10.9 of Rents which would have been paid pursuant to this LeaseLease but for such legal rent restriction less the Rents paid by Tenant during the period that such legal rent restriction was in effect. 7.3 2.4. The Tenant shall, if possible, ensure parties hereby agree (i) that direct contractual relationships are established between Section 467 of the Tenant Internal Revenue Code is not operative to this Lease and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant (ii) to report rental income and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of rental deductions without any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT recharacterization pursuant to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by LandlordSection. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Sports Club Co Inc)

Rent. 7.1 The A. Tenant covenants and agrees that it shall be responsible for pay Base Rent to Landlord in the payment manner provided in Section 5.B in equal consecutive monthly installments in advance on or before the 1st day of the Basic Rent annually and proportionately for any fraction each calendar month commencing as of a Lease Year from and including the Commencement Date and from and including continuing through the Rent Adjustment Date such Term. If the Term commences on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment 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 such Base Rent by a fraction, the 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 prorated pursuant to this Section 5.A, on the Commencement Date (in connection with respect Landlord’s acquisition of the Premises pursuant to the period defined in the next sentence below)Purchase Agreement. B. For purposes of this Lease, the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement DateBase Rent, the Tenant shall pay all OutgoingsReal Estate Taxes, VAT the Utility Charges and any and all other taxes amounts, sums, charges, liabilities and obligations which Tenant assumes or sums whatsoever 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 become payable or refundable by “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Rent, every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without 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. All Rent is payable in lawful money of the provisions United States of Clause 10.9 America and legal tender for the payment of public and private debts without notice, demand, abatement, deduction, or setoff under any circumstances, in accordance with the wire or ACH information as Landlord designates to Tenant in writing from time to time. C. Tenant hereby acknowledges that late payment by Tenant to Landlord of Rent will cause Landlord to incur costs and administrative complications not contemplated hereunder, the exact amount and scope of which are presently anticipated to be extremely difficult to ascertain. Accordingly, if any installment of Rent due to Landlord is not paid within five (5) days of the date it is due for any reason, Tenant shall pay Landlord upon demand a late charge equal to the lesser of (i) seven percent (7%) of the delinquent installment of Rent and (ii) the highest amount allowed by applicable Law (each a “Late Charge”). 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 (including the amount of any Late Charge) due to Landlord shall accrue interest at the Default Rate from the date on which such Rent was due up to the date that such Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Without limitation of the foregoing, Tenant shall be responsible for payment of all interest, late charges, and other actual costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges that are the responsibility of Tenant hereunder. 7.3 The D. For any non-scheduled payment of Rent hereunder that is payable by Tenant on demand by Landlord, such shall be due ten (10) days following written demand therefor by Landlord, without abatement, deduction, or setoff under any circumstances. E. If required pursuant to Section 21(C), Tenant shall deliver to Landlord an irrevocable standby letter of credit in form and substance reasonably acceptable to Landlord (“Letter of Credit”) in the amount required by Section 21(C) (the “Security Deposit”) to secure Tenant’s obligations under this Lease. Upon a monetary Event of Default and Tenant’s failure to cure same following expiration of the applicable notice and cure period, Landlord may draw on such Letter of Credit to satisfy any such unpaid monetary obligation of Tenant, and Tenant shall, within five (5) Business Days following written notice from Landlord thereof, deposit with Landlord a replacement Letter of Credit sufficient to replenish the Security Deposit to its original amount; provided, however, if possiblethe Letter of Credit has been depleted pursuant to the foregoing sentence or Tenant fails to replenish the Letter of Credit in accordance with this Lease, ensure then Landlord shall have the right to exercise all of its rights and remedies hereunder with respect to such Event of Default. Any Letter of Credit posted by Tenant pursuant to this Lease shall be issued (the following collectively, the “LC Issuer Requirements”): (a) by a commercial bank with a net worth of at least Ten Billion Dollars ($10,000,000,000), (b) that direct contractual relationships is chartered under the laws of the United States, any State thereof or the District of Columbia, and which is insured by the Federal Deposit Insurance Corporation, (c) whose long-term, unsecured and unsubordinated debt obligations are established between the Tenant and the contractor for the services included rated in the Outgoingshighest category by at least two of Fitch Ratings Ltd. (Fitch), ▇▇▇▇▇’▇ Investors Service, Inc. (Moody’s) and Standard & Poor’s Ratings Services (S&P) (the “Rating Agencies”) or their respective successors (which shall mean A- from Fitch, A3 from Moody’s and A-from Standard & Poor’s), (d) which has a short term deposit rating in the highest category from at least two Rating Agencies (which shall mean F2 from Fitch, P-2 from Moody’s and A-2 from S&P), and (e) which is not insolvent and is not placed into receivership or conservatorship by the Federal Deposit Insurance Corporation, or any successor or similar entity, and for which no trustee, receiver or liquidator is appointed. If direct contractual relationships between at any time following the delivery of the Letter of Credit by Tenant pursuant to this Section 5.E the LC Issuer Requirements are not satisfied, then Tenant shall, no later than ten (10) business days after the earlier of (i) Tenant acquiring knowledge that the LC Issuer Requirements are not satisfied and (ii) receipt of written notice thereof, deliver to Landlord either a contractor cannot be establishedreplacement Letter of Credit which meets the LC Issuer Requirements or cash in the amount of the Security Deposit. If Tenant fails to deliver a replacement Letter of Credit from an institution that satisfies the LC Issuer Requirements or such cash Security Deposit to Landlord within such ten (10) business day period, Landlord, at its option, upon the Landlord shall direct all such contractors to account on a monthly basis directly delivery of written notice to Tenant (or shall provide copies on a monthly basis may draw upon the Letter of any such accounting statements provided by such contractor Credit and instruct the Letter of Credit issuer to deliver the full amount of the Letter of Credit to Landlord together with as a cash Security Deposit. It is Tenant’s responsibility to maintain and renew the applicable statement), payment Letter of which Credit such that it is in effect at all times until the return of the Letter of Credit to Tenant in accordance herewith. Tenant shall be made by Tenant to the applicable contractor within renew such Letter of Credit no later than thirty (30) days following receipt prior to any expiration date thereof or replace such Letter of an Invoice from Credit with a replacement Letter of Credit which otherwise meets the LC Issuer Requirements or with a cash Security Deposit. If Tenant has not renewed the Letter of Credit (and delivered the original of such renewal documentation to Landlord) or delivered a satisfactory replacement Letter of Credit or cash Security Deposit to Landlord or contractorat least thirty (30) days prior to the expiration date of the Letter of Credit, as applicable. 7.4 If required by the Landlord, at its option, may draw upon the Tenant shall pay Letter of Credit and instruct the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order Letter of Credit issuer to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which deliver the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment full amount of the Basic Rent) shall be made against Invoices issued by the Letter of Credit to Landlord to the Tenantas a cash Security Deposit.

Appears in 1 contract

Sources: Master Lease Agreement (Cracker Barrel Old Country Store, Inc)

Rent. 7.1 The 3.01. Tenant covenants shall pay the Fixed Rent in equal monthly installments in advance on the first day of each and agrees every calendar month during the Term (except that it Tenant shall pay, upon the execution and delivery of this Lease by Tenant, the Advance Rent, to be responsible for applied against the payment first installment or installments of the Basic Fixed Rent annually and proportionately for any fraction of a Lease Year from and including becoming due under this Lease). If the Commencement Date and from and including the Rent Adjustment Date such occurs on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)day of a calendar month, the Basic Fixed Rent for the partial calendar month at the commencement of the Term shall be prorated. 3.02. The Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect lawful money of the period from and including the Commencement Date United States to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement DateLandlord at its office, the or such other place, or to Landlord's agent, as Landlord shall designate by notice to Tenant. Tenant shall pay all Outgoingsthe Rent promptly when due without notice or demand therefor and without any abatement, VAT 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 and all other taxes or sums whatsoever as become payable or refundable check received by the Tenant Landlord shall be deemed received subject to the Landlord under the provisions of Clause 10.9 of this Leasecollection. 7.3 The 3.03. No payment by Tenant shallor 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 possibleany, ensure that direct contractual relationships to designate the items to which any payments made by Tenant are established between the Tenant to be credited, and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of may apply any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be payments made by Tenant to such items as Landlord sees fit, irrespective of and notwithstanding any designation or request by Tenant as to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicableitems to which any such payments shall be credited. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant3.05. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Payment due Landlord under this Lease which is not paid on or before five (including 5) days after the same is due (a "Late Payment"), shall, from the due date, until such payment is received by Landlord, bear interest at the prime rate of Chemical Bank of New York (the Basic Rent"Late Payment Rate"). In addition, Tenant shall pay to Landlord an amount equal to five (5%) percent of any such late payment to cover Landlord's cost of collecting and handling such late payment. Notwithstanding the foregoing, Tenant shall not be made against Invoices issued by charged a late charge for its first late payment during the Landlord to the TenantTerm.

Appears in 1 contract

Sources: Lease Agreement (Styrochem International LTD)

Rent. 7.1 The A. Tenant covenants and agrees that it shall be responsible for pay to Landlord Base Rent in the payment manner provided in Subsection 5.C. in equal consecutive monthly installments in advance on or before the 1st day of the Basic Rent annually and proportionately for any fraction each calendar month commencing as of a Lease Year from and including the Commencement Date and from and including continuing through the Rent Adjustment Date such Term. If the Term commences on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment day of a calendar month, or ends on a day other than the Commencement Date (with respect to the period defined in the next sentence below)last day of a calendar month, Base Rent for such month shall be prorated by multiplying same by a fraction, the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on numerator of which is the Commencement Date and to be in respect number of days of the period from Term within such calendar month and including the Commencement Date to and including denominator of which is the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basistotal number of days within such calendar month. 7.2 From and including the Commencement Date, the B. Tenant shall agrees to pay all OutgoingsReal Estate Taxes and Utility Charges as set forth below. C. For purposes of this Lease, VAT Base Rent, Real Estate Taxes, Utility Charges and any and all other taxes amounts, sums, charges, liabilities and obligations which Tenant assumes or sums whatsoever 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 become payable or refundable by “Rent”; and, in the event of any failure on the part of Tenant to pay any portion of the Landlord under Rent (except where such failure is directly due to the provisions acts or omissions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statementLandlord), every fine, penalty, interest and cost which may be added for nonpayment or late payment of such items, including, without limitation, all amounts for which shall be made by Tenant is or may become liable to the applicable contractor within thirty (30) days following receipt of an Invoice from indemnify Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to 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, deduction, or setoff in accordance with the Basic ACH information specified in Subsection ▇.▇▇., or in accordance with other ACH information as Landlord designates to Tenant in writing. 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, the exact amount and 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 five (5) business days after delivery to Tenant of written notice from Landlord that Tenant has failed to pay Rent when due, Tenant shall pay Landlord on written demand a late charge equal to five percent (5%) of the delinquent installment of Rent, when it pays the delinquent installment. 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 which is five (5) business days after delivery to Tenant of written notice from Landlord that Tenant has failed to pay Rent when due up to the date that the Rent is paid. The payment of such late charge or such interest shall not constitute waiver of, nor excuse or cure, any default under this Lease, nor prevent Landlord from exercising any other rights and remedies available to Landlord. Notwithstanding the foregoing, Tenant shall be made against Invoices issued responsible for payment of all interest, late charges, and other costs and fees imposed by third parties with respect to late payments of Utilities or other third party charges the responsibility of Tenant hereunder. E. Landlord covenants that, due to Landlord’s organizational structure or jurisdiction, Tenant shall not be required by applicable law to pay any withholding tax on any Rent payable hereunder or make any deduction on any payment of Rent. F. Landlord shall provide to Tenant a completed IRS Form W-9 (Request for Taxpayer Identification Number and Certification), on or before the Commencement Date. Landlord shall promptly notify Tenant of any changes to the Tenantinformation set forth therein.

Appears in 1 contract

Sources: Absolute Lease Agreement (First Midwest Bancorp Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for pay to Landlord the payment Minimum Annual Rent in the amounts of the Basic 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 annually and proportionately for any fraction Abatement Period), 100% of a Lease Year from and including 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 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 from 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 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 abated, and including the all Additional Rent Adjustment Date such and other Basic Rent costs and charges specified in this Lease shall remain as may become due and payable under pursuant to the provisions of SCHEDULE 2this Lease. Following the first rent payment on the Commencement Date (with respect Notwithstanding anything to the period defined contrary herein, Landlord shall have the option in Landlord's sole discretion, to make a cash payment to Tenant in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect amount of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Abated Base Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Datedue under this Section 3.01. Upon Landlord's tender of such payment, the Tenant shall pay all Outgoings, VAT and no longer be entitled to ▇▇▇▇▇ any and all other taxes or sums whatsoever as become payable or refundable by the Tenant Base Rent pursuant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the OutgoingsSection 3.01. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all exercise its option to buy out Tenant's Abated Base Rent by notice given to Tenant, and Landlord shall make such contractors to account on a monthly basis directly payment to Tenant within ten (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (3010) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenantsuch notice. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.8 I\14399819.10

Appears in 1 contract

Sources: Office Lease (eHealth, Inc.)

Rent. 7.1 The (a) Tenant covenants shall pay to Landlord "Base Rental" throughout the Term in monthly installments as set forth in the Basic Lease Information attached hereto, due and agrees that it payable upon the first day of each and every month during the Term, without any further notice from, or demand by Landlord and without any offset or deduction whatsoever, in lawful money of the United States of America, at the address set forth in the Basic Lease Information attached hereto or elsewhere as designated from time to time by Landlord's written notice to Tenant. Tenant shall also pay to Landlord all charges and other amounts whatsoever as provided in this Lease ("Additional Charges"); and such Additional Charges shall be responsible payable to Landlord at the place where the Base Rental is payable and Landlord shall have the same remedies for a default in the payment of Additional Charges as for a default in the Basic Rent annually and proportionately for any fraction payment of a Lease Year from and including Base Rental. If the Commencement Date and from and including the Rent Adjustment Date such should occur on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment day of a calendar month, or the Expiration Date should occur on a day other than the Commencement Date (with respect to last day of a calendar month, then the period defined in the next sentence below), the Basic Rent Base Rental and Additional Charges for such fractional month shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated prorated on a daily basis. 7.2 From (b) Tenant recognizes that late payment of any Base Rental or Additional Charges will result in additional administrative expense to Landlord and including will impair Landlord's ability to meet its obligations with respect to the Commencement DateBuilding and otherwise, the exact extent of which additional expense and impairment will be extremely difficult or impractical to determine. Tenant shall pay all Outgoings, VAT and therefore agrees that if any and all other taxes Base Rental or sums whatsoever as become payable or refundable by Additional Charges remain unpaid for a period of five (5) days after the Tenant to date the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be establishedsame is due, the Landlord shall direct all amount of such contractors to account on a monthly basis directly to Tenant (unpaid Base Rental or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which Additional Charges shall be made increased by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT late charge to be paid to a bank account located outside Landlord by Tenant in an amount equal to ten percent (10%) of Germany and the cost amount of the past due Base Rental and/or Additional Charges. The amount of the late charge to wire transfer Basic Rent and VAT be paid to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost Landlord by Tenant on any delinquent Base Rental and/or Additional Charges shall be borne reassessed and added to Tenant's obligation for each successive monthly period accruing after the date on which the late charge is initially imposed until such late charge and all delinquent Base Rental and Additional Charges have been paid in full by Landlord. 7.5 Any payments from the Tenant. Tenant to the Landlord under this Lease (including the payment agrees that such amount is a reasonable estimate of the Basic Rentloss and expense to be suffered by Landlord as a result of any such late payment by Tenant. The provisions of this Paragraph 3(b) shall be made against Invoices issued by in no way relieve Tenant of the Landlord obligation to pay Base Rental or Additional Charges on or before the Tenantdate on which they are due, nor do the terms of this Paragraph 3(b) in any way affect Landlord's remedies pursuant to Paragraph 18 in the event any Base Rental or Additional Charges are unpaid after the date due.

Appears in 1 contract

Sources: Lease (Linkshare Corp)

Rent. 7.1 The Tenant covenants Rent and agrees additional rent under the Leases shall be prorated as of the Cut-Off Time on a per diem basis and Buyer shall receive a credit for its proportionate share of the rent previously actually received by Seller for the month in which the Closing Date occurs and for all rent actually prepaid by more than thirty (30) days. Buyer shall receive a credit for all cash Advance Deposits (if any) that it Seller holds as of the Closing Date, other than any assignable certificates of deposit or letters of credit, which shall be assigned to Buyer, provided that Buyer and Buyer’s Principals, jointly and severally, indemnify, defend (with counsel reasonably acceptable to Seller) and hold Seller and the other Seller Parties harmless from any and all obligations relating to such Advance Deposits assigned to Buyer. Seller shall cooperate with Buyer and execute all reasonable, necessary documents and instruments and undertake communications with parties to such certificates of deposits and letters of credit to facilitate their transfer to Buyer. Buyer shall be responsible for the payment of the Basic Rent annually setting up accounts and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (making necessary deposits with respect to cash Advance Deposits. At Closing, Seller shall provide Buyer with a statement of arrearages, if any, under the Leases. If the any of the Leases contains obligations for utility charges, rent escalations for taxes or other operating expenses, insurance or other forms of additional rent, and Seller shall have collected any portion of such additional rent for a period on or after the Closing Date, then the same shall be apportioned and credit given to Buyer for such period. If such additional rent have not been billed, or if billed, have not been collected by Seller as of the Closing Date, then Buyer shall (i) in good faith and with due diligence ▇▇▇▇ and collect such additional rent and when the amount of such additional rent is determined and collected by Buyer, the same shall be apportioned as provided herein, (ii) to the extent allocable to Seller, hold the first monies so received in trust for the benefit of Seller, and (iii) to the extent required to pay the amounts due to Seller for the period defined in up to the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Closing Date, promptly remit the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant same to the Landlord under the provisions of Clause 10.9 of this LeaseSeller. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Hotel Purchase Agreement (Wilshire Enterprises Inc)

Rent. 7.1 The Tenant covenants and agrees that it A. Sublessee shall pay to Sublessor rent ("Fixed Rent") in the amount fisted on Exhibit A attached hereto. Fixed Rent shall be responsible for paid monthly in advance on the payment first day of each month during the term of this Sublease. Fixed Rent, the Operating Expense Escalation Charge, as defined in Section 3.3 of the Basic Rent annually Main Lease, and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such all other Basic Rent as may become amounts ("Additional Charges") payable by Sublessee to Sublessor under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes this Sublease or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 the Main Lease shall be paid promptly when due, without notice or demand therefor (unless Sublessor receives notice or demand therefor from the landlord under the Main Lease), and without deduction, abatement, counterclaim or set off of any amount for any reason whatsoever. Fixed Rent and Additional Charges shall be paid to Sublessor in lawful money of the United States at the address of Sublessor set forth at the beginning of this Sublease, or to such other person and/or at such other address as Sublessor may from time to time designate by .written notice to Sublessee. Sublessee's share of all Additional Charges due under the Main Lease shall be thirty-eight and eighty-nine hundredths percent (38.89 %) of the amount for which Sublessor is responsible under the Main Lease. No payment by Sublessee or receipt by Sublessor of any lesser amount than the amount stipulated to be paid hereunder shall be deemed other than on account of the earliest stipulated Fixed Rent or Additional Charges; nor shall any endorsement or statement on any check or letter be deemed an accord and satisfaction, and Sublessor may accept any check or payment without prejudice to Sublessor's right to recover the balance due or to pursue any other remedy available to Sublessor. Without limiting the foregoing, the parties acknowledge that in addition to Fixed Rent Sublessee is responsible for an electricity charge, presently set at $0.75 per rentable square foot, which shall be paid in equal monthly installments, as set forth in the Main Lease. 7.3 The Tenant shallB. In addition to Fixed Rent, if possible, ensure that direct contractual relationships are established between Sublessee agrees to pay to Sublessor thirty-eight and eighty-nine hundredths percent (38.89 %) of the Tenant and the contractor amount of Sublessor's liability for the services included Tax Escalation Charge, appropriately prorated to reflect the term of this Sublease, pursuant to and as defined in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.Section 3.2

Appears in 1 contract

Sources: Sublease Agreement (Lycos Inc)

Rent. 7.1 The A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and agrees that it Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called "Rent." In addition, Tenant shall pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Such payments shall be responsible for paid concurrently with the payment payments of the Basic Rent annually on which the tax is based. Base Rent and proportionately Additional Rent for any fraction each calendar year or portion thereof during the Lease Term, shall be due and payable in advance in monthly installments on the first day of each calendar month during the Lease Term, without demand. If the Lease Term commences on a day other than the first day of a Lease Year from month or terminates on a day other than the last day of a month, then the installments of Base Rent and including the Commencement Date and from and including the Additional Rent Adjustment Date for such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment month or months shall be prorated, based on the Commencement Date number of days in 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 three (3) Business Days after notice from Landlord with respect to the period defined first two (2) late payments in the next sentence below)any calendar year. In addition, the Basic if Tenant fails to pay any installment of Base Rent and Additional Rent or any 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 divided into four entitled to a grace period of three (43) equal portions and each portion will be paid quarterly Business Days after notice from Landlord with respect to the first two (2) late payments in advance on each any calendar year. C. The Additional Rent Payment Date in every Lease Year. The first (1st) rent payment payable hereunder shall be made on the Commencement Date and to be adjusted from time-to-time in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under accordance with the provisions of Clause 10.9 of this LeaseExhibit C attached hereto. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Industrial Building Lease (Chimerix Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible pay to Landlord as rental for the payment use and occupancy of the Basic Rent annually premises, at the times and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)manner hereinafter provided, the following sums of money: (a) Tenant shall pay to Landlord basic rent in the amount specified in the Basic Rent shall be divided into four (4) Lease Information per year, payable in equal portions and each portion will be paid quarterly monthly installments in advance on the commencement of the term hereof and on or before the first day of each Rent Payment Date in and every Lease Yearsuccessive calendar month during the term hereof. The If the term commences on other than the first (1st) day of a calendar month, the first payment of rent payment shall be made appropriately prorated on the Commencement Date and to be in respect basis of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis30-day month. 7.2 From and including the Commencement Date, the (b) Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractorpay, as applicable. 7.4 If additional rent, all sums of money required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside Landlord as stated above and all other sums of Germany and money or charges required to be paid by Tenant hereunder in addition to basic rent, whether or not the cost to wire transfer Basic Rent and VAT to same are designated "additional rent". If such account exceeds amounts or charges are not paid at the cost to wire transfer such funds to an account time provided in Germanythis Lease, then such excess cost they shall nevertheless be collectible as additional rent with the next installment of minimum rental thereafter falling due, but nothing herein contained shall be borne deemed to suspend or delay the payment of any amount of money or charge at the time the same becomes due and payable hereunder, or limit any other remedy of Landlord. All amounts of money payable by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including Lease, if not paid when due, shall bear interest from the payment due date until paid at the rate of the Basic Rentgreater of 15% per annum or the prime rate publicly announced by the Bank of America at (Seattle Washington office) or its successor or its equivalent size competitor in the Seattle market place should Bank of America cease to exist, but not to exceed the maximum rate of interest permitted by law ("Default Interest"). All payments due from Tenant to Landlord hereunder shall be made against Invoices issued 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 at such other place as Landlord may from time to time designate in writing to Tenant. (c) Tenant hereby acknowledges that late payment by Tenant to Landlord of rent and other sums due hereunder after the expiration of any applicable grace period 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 mortgage or trust deed covering the premises. Accordingly, if any installment of rent or any other sums due from Tenant shall not be received by Landlord within 10 days after the due date, Tenant shall pay to Landlord a late charge equal to 6% of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default as provided above, or prevent Landlord from exercising any of the other rights and remedies available to Landlord hereunder or at law.

Appears in 1 contract

Sources: Lease Agreement (Cellular Technical Services Co Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for 4.1 On the payment first day of every calendar month of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment Term commencing on the Commencement Date (with respect Date, Tenant will pay Rent, without deduction, offset, prior notice or demand, at the place designated by Landlord. Notwithstanding the foregoing, an amount equal to the period defined in Base Monthly Rent plus taxes for the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on full calendar month of the Lease Term is due and payable within five (5) Business Days after the Effective Date of this Lease. Rent for the month in which the Commencement Date and to be in respect occurs, the Lease Term expires, or the Rent adjusts, if other than the first or last day of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated month, shall be prorated on a daily per diem basis. 7.2 From 4.2 All payments of Rent shall be in lawful money of the United States of America by good and including the Commencement Datesufficient check or by other means (such as automatic debit or electronic transfer) acceptable to Landlord. 4.3 The obligation of Tenant to pay Rent shall be independent of every other obligation contained in this Lease, the and Tenant shall not be entitled to an offset against Rent for any amounts due or to become due from Landlord. 4.4 Notwithstanding any practice of Landlord from time to time of issuing to Tenant courtesy statements of setting forth Rent due, Tenant’s obligation to pay all OutgoingsRent by its due date shall not be conditioned on Tenant’s receipt of any such statement. 4.5 Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the earliest Rent due. 4.6 No payment by Tenant or receipt by Landlord of a lesser amount than the Rent then due shall be deemed to be other than on account of the Rent, VAT 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 of such Rent or pursue any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of remedy provided in this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the 4.7 Tenant shall also be obligated to pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including monthly with the payment of Base Monthly Rent, any and all transaction privilege and/or rental taxes imposed upon the Basic Rent) Base Monthly Rent and such taxes shall be made against Invoices issued by the Landlord deemed to the Tenantbe part of Base Monthly Rent for all purposes under this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Greenwood Hall, Inc.)

Rent. 7.1 The 3.1 Tenant covenants shall pay to Landlord the following amounts as rent for the Premises: (a) During the Lease Term, Tenant shall pay to Landlord, as monthly rent, the base rent specified in the Basic Lease Information (the "Base Rent"). (b) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share (as hereinafter defined) of all Insurance Costs (as hereinafter defined) paid or incurred by Landlord in such calendar year. (c) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, Tenant's Percentage Share of all Property Taxes (as hereinafter defined) paid or incurred by Landlord in such calendar year. (d) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the Allowance Rent, if any, as provided in Exhibit B attached hereto. (e) During each calendar year or part thereof during the Lease Term, Tenant shall pay to Landlord, as additional rent, the Management Fee (as hereinafter defined). (f) Throughout the Lease Term, Tenant shall pay, as additional rent, all other amounts of money and agrees that it charges required to be paid by Tenant under this Lease, whether or not such amounts of money and charges are otherwise designated "additional rent." As used in this Lease, "rent" shall mean and include all Base Rent, Allowance Rent, all additional rent and all other amounts payable by Tenant in accordance with this Lease. If the Lease Term 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 responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment prorated on the Commencement Date (with respect to basis which the period defined in number of days from the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect commencement of the period from and including the Commencement Date such calendar year to and including the Working Day immediately preceding date on which the next following Rent Payment Date calculated on a daily basisend of the term occurs bears to three hundred sixty five (365). 7.2 From and including the Commencement Date, the 3.2 Tenant shall pay all Outgoingsmonthly installments of (a) Base Rent, VAT (b) monthly installments of the Management Fee, (c) monthly installments of Landlord's estimates of amounts payable under sections 3.1(b) and any 3.1(c) hereof, (d) monthly installments of the Allowance Rent (if applicable), and all other taxes (e) monthly installments of amounts payable, if any, by Tenant pursuant to section 10.1 below on account of Capital Repairs or sums whatsoever as become payable section 14.2 below on account of Capital Expenditures (collectively, "Monthly Rent") to Landlord, in advance, on or refundable by before the first day of each and every calendar month during the Lease Term, without notice, demand, deduction or offset, in lawful money of the United States of America. Landlord instructs Tenant to pay all such Monthly Rent to the address specified therefor in the Basic Lease Information, or to such other person or at such other place as Landlord under may from time to time designate in writing. Landlord shall have the provisions of Clause 10.9 of right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant's designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect. If ▇▇▇▇▇▇'s obligation to pay Base Rent hereunder commences on a day other than the first day of a calendar month, or if the Lease Term terminates on a day other than the last day of a calendar month, then the Base Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Upon signing this Lease, Tenant shall pay to Landlord an amount equal to the Base Rent for the first full calendar month of the Term in which monthly Base Rent is payable, which amount Landlord shall apply to the Base Rent for such first full calendar month. 7.3 3.3 The additional rent payable pursuant to sections 3.1(b) and 3.1(c) hereof shall be calculated and paid in accordance with the following methods: On or before the first day of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall deliver to Tenant Landlord's reasonable estimate of Insurance Costs and Property Taxes, which it anticipates will be paid or incurred for the ensuing calendar year, and Tenant shall pay to Landlord an amount equal to the estimated amount of such expenses for such year in equal monthly installments during such year with the installments of Base Rent. Landlord reserves the right to revise such estimate from time to time (but not more than once per calendar year). In addition, on or before the first day of each calendar year during the Lease Term, Landlord shall deliver to Tenant an invoice for the monthly amount of the Management Fee required to be paid by Tenant pursuant to this Lease for the ensuing calendar year, and Tenant shall pay to Landlord the Management Fee for such year in equal monthly installments during such year with the installments of Base Rent. 3.4 Landlord shall furnish to Tenant within four months following the end of the applicable calendar or fiscal year, as the case may be, a statement setting forth (i) the amount of such expenses paid or incurred during the just ended calendar year, and (ii) the amount that ▇▇▇▇▇▇ has paid to Landlord for credit against such expenses for such period. If Tenant shall have paid more than its obligation for such expenses for the stated period, Landlord shall, if possibleat its election, ensure either (i) credit the amount of such overpayment toward the next ensuing payment or payments of Monthly Rent that direct contractual relationships are established between would otherwise be due or (ii) refund in cash to Tenant the Tenant and the contractor for the services included in the Outgoingsamount of such overpayment. If direct contractual relationships between the such year-end statement shall show that Tenant and a contractor candid not be establishedpay its obligation for such expenses in full, the Landlord then Tenant shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor pay to Landlord together with the applicable statement), payment amount of which shall be made by Tenant to the applicable contractor such underpayment within thirty (30) days following from Landlord's billing of same to Tenant. Tenant may, at Tenant's sole cost and expense, cause an audit of Landlord's books and records to determine the accuracy of Landlord's ▇▇▇▇▇▇▇▇ for Insurance Costs and Property Taxes under this Lease, provided Tenant completes (and delivers to Landlord the written results of) such audit within one hundred twenty (120) days after ▇▇▇▇▇▇'s receipt of the year-end statement described above setting forth the annual reconciliation of Insurance Costs and Property Taxes, and provided further that the person or entity performing such audit is not compensated on any type of contingent basis. If such audit reveals that the actual Insurance Costs and Property Taxes for any given year were less than the amount that Tenant paid for Insurance Costs and Property Taxes for any such year, then unless Landlord contests such audit results as provided below, Landlord shall credit the excess to Tenant's next payment of Monthly Rent and Landlord shall pay the cost of Tenant's audit. If such audit reveals that the actual Insurance Costs and Property Taxes for any given year were more than the amount that Tenant paid for Insurance Costs and Property Taxes for any such year, Tenant shall pay such amount to Landlord within thirty (30) days after completion of the audit. Landlord shall have the right to contest the results of ▇▇▇▇▇▇'s audit and thereafter promptly have an Invoice from audit performed ("Landlord's Audit") by a certified public accounting firm selected by Landlord or contractor, as applicable. 7.4 If required by the Landlordand acceptable to Tenant in Tenant's reasonable discretion. In such case, the results of ▇▇▇▇▇▇▇▇'s audit shall be binding and conclusive on Landlord and Tenant, and any resulting overpayment or underpayment shall be handled as provided above. Tenant shall pay the Basic Rent reserved cost of ▇▇▇▇▇▇▇▇'s Audit unless Landlord's Audit confirms the accuracy of the audit performed by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either ▇▇▇▇▇▇, in Germany or another country which the case Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and shall pay the cost to wire transfer Basic Rent and VAT to such account exceeds of Landlord's Audit. The provisions of this section shall survive the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under expiration or sooner termination of this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.Lease. ARTICLE 4

Appears in 1 contract

Sources: Lease (Gigamon Inc.)

Rent. 7.1 The 4.1 Tenant covenants and hereby agrees that it shall be responsible for to pay Landlord the payment Base Rent subject to recalculation as provided in Section 1.2. For purposes of Rent adjustment under the Lease, the number of months is measured from the first day of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including calendar month in which the Commencement Date and from and including falls. Each monthly installment (the Rent Adjustment Date such other Basic Rent as may become “Monthly Rent”) shall be payable under the provisions of SCHEDULE 2. Following by check or by money order on or before the first rent payment on the Commencement Date (with respect day of each calendar month. In addition to the period defined in the next sentence belowBase Rent, Tenant also agrees to pay Tenant’s Share of Operating Expenses and Taxes (each as hereinafter defined), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever of money as shall become due and payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallas hereinafter set forth, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment 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 made 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. As an inducement to Tenant entering into this Lease, Base Rent shall be abated for the first sixty (60) days after the Commencement Date. Landlord and Tenant agree for tax reporting purposes that none of the Base Rent due in periods in which the Base Rent is not being abated shall be allocated to any other period. 4.2 In the event any Monthly or Additional Rent or other amount payable by Tenant to the applicable contractor hereunder is not paid within thirty five (305) days following receipt of an Invoice from Landlord or contractorafter its due date, as applicable. 7.4 If required by the Landlord, the 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 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 on Execution set forth in the Basic Lease Information as payment of the first installment of Monthly Rent reserved by Clause 7.1 due hereunder and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)ii) either in Germany or another country which the Landlord has notified in writing an amount equal to the Security Deposit 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 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 of 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 requires Basic Rent and VAT applies the Security Deposit or any part thereof for payment of such amounts or to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to cure any such account exceeds the cost to wire transfer such funds to an account in Germanyother 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 excess cost successor owner shall be borne by Landlord. 7.5 Any payments released from the Tenant further liability with respect to the Landlord under this Lease (including Security Deposit upon the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenantoriginal Landlord’s or such successor owner’s complying with California Civil Code Section 1950.

Appears in 1 contract

Sources: Lease Agreement (Biotime Inc)

Rent. 7.1 The Tenant covenants Rent due for the entire Lease Term is $ . Rent shall also include any other charges identified in this Lease as “Rent” or “Additional Rent”. Rent and agrees that it Additional Rent is payable in one of the following payment options: If Rent is not paid in accordance with the terms set forth above, Landlord will commence with the removal of the Tenant. Rent is due on the specified dates in the amounts shown above. Any Rent received more than five (5) days after the due date shown above (the 1st of every month for the monthly option) is subject to a Fifty Dollar ($50.00) late fee which shall be due as Additional Rent. In addition, beginning with the sixth day after the due date of a rent payment, you will be charged an additional charge of $5.00 per day until payment is received in full. Tenant’s right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent or Additional Rent due under this Lease, Landlord will give Tenant a three (3) day notice to pay or vacate Premises (excluding weekends and holidays). Should Tenant fail to pay in full, Landlord will refer the matter to an attorney to proceed with eviction. Landlord will not accept partial payment of Rent or Additional Rent. Should Tenant elect to vacate the Apartment, Tenant continues to remain liable for all Rent and charges due through the balance of the Lease Term. Tenant is responsible to pay all court costs and attorney’s fees in an eviction suit, or for any other legal action commenced by Landlord for the payment enforcement of the Basic Rent annually terms and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 conditions of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant Owed rent will be sent to Collections and a contractor can30% Collections Fee will be assessed. Payments shall be applied first to any unsatisfied charges, late fees, repairs, or other fees owed by Tenant, and then to Additional Rent that is owed, then to Rent. Rent payments will be applied to the earliest date owing. This Lease does not be establishedautomatically renew upon expiration of the Lease Term designated. In order for Current Tenants to remain in their current room, they must contact the Landlord shall direct all such contractors to account Management office and submit a Lease renewal form. Apartments are filled on a monthly basis directly to Tenant (first come basis. Current Tenants must reserve early or shall provide copies on a monthly basis of risk losing their current room assignment. Landlord may accept or deny any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicablerenewal request at its sole discretion. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement

Rent. 7.1 The Tenant covenants and agrees that it Rent (defined above) shall be responsible due and payable on the first of each month, in advance. All rental agreements require first and last months rent and gate card deposit. All rents will be pro-rated to the first of the month. BRV&BS will not mail you an invoice, it is your responsibility to ensure rent is paid by the due date set forth herein. BRV&BS will accept payment in the form of a personal pre-printed check, money order, cash, credit card or online payment. A late fee of Twenty-Five Dollars (25.00) will be assessed on any rent payment not received by the fifth (5th) of each month. If a check is ever returned for non payment, BRV&BS reserves the right to require Lessee to pay with either a credit card, cash or a money order. In addition you will be assessed a one and one-half [percent (1 ½ %) service charge per month on any delinquent balance, until such balance is paid in full. This agreement may not be assigned without the prior written consent of BRV&BS LIEN RIGHTS OF BRV&BS. BRV&BS shall have a lien upon the item stored in or about the storage facility for the payment value of any rent or other charges incurred as a result of this Agreement and for expenses necessary for the preservation, sale or disposition of the Basic Rent annually and proportionately for item to satisfy the lien. When any fraction part of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such or any other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor charges due hereunder remain unpaid for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt consecutives days, BRV&BS may terminate this Agreement by send a “Notice of an Invoice from Landlord or contractor, Termination and Lien” as applicable. 7.4 If required by the LandlordNRS 108.265 et seq., the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country ▇▇▇▇▇▇’s last known address, which the Landlord has address, unless BRV&BS is otherwise notified in writing to by ▇▇▇▇▇▇, shall be the Tenantsame as hereinabove provided. If Landlord requires Basic ▇▇▇▇▇▇ fails to pay all of such Rent or other charges due hereunder within the time stated in the Notice of Termination and VAT Lien, Lessee may sell Lessee’s property as set forth in NRS 108.265 et seq., in order to satisfy the amount of the lien. Release and Indemnification of BRV&BS. Storage is at the sole risk of Lessee. BRV&BS is not responsible for damage, loss or theft of any kind, unless such loss or damage results from the direct, active and gross negligence of BRV&BS, its officers, agents, or employees. Lessor shall not be paid responsible for loss of or damage to a bank account located any personal property of the Lessee which is left inside or outside of Germany the vehicle described in this agreement. Lessee expressly agrees to release, hold harmless and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germanyindemnify BRV&BS, then such excess cost shall be borne by Landlord. 7.5 Any payments all of its officers, agents, employees, or others, from the Tenant to the Landlord under this Lease (all liability, loss or damage, including the payment reasonable cost of defense that BRV&BS may suffer as a result of claims, demands, actions or damages to any and all persons, property, cost or judgment against BRV&BS which may result from or arise out of or is in any way connected with the Basic Rent) shall be made against Invoices issued Rental Agreement between Lessee and BRV&BS. Lessor is not responsible for any damage caused by the Landlord winds, snow, rains or any other “Acts of God or Nature” Lessee’s Insurance Coverage. Lessee is required to the Tenantprovide proof of insurance on any boat, trailer or vehicle stored on premises.

Appears in 1 contract

Sources: Rental Agreement

Rent. 7.1 The 7.1. Tenant covenants shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and agrees every calendar month during the Term. Notwithstanding the foregoing, provided that it Tenant is not in Default, Tenant shall be entitled to receive an abatement of Base Rent for months two (2) through seven (7) of the initial Term (the “Base Rent Abatement Period”) in an aggregate amount not to exceed Eight Hundred Fifty-Four Thousand Four Hundred Sixty Six Dollars ($854,466.00) (the “Base Rent Abatement”) (for purposes of clarity, Tenant shall be responsible for all other Rent due pursuant to the payment terms of this Lease during the Base Rent Abatement Period). Tenant acknowledges and agrees that the foregoing Base Rent Abatement has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under this Lease. If Tenant shall be in Default under this Lease, then Tenant’s right to receive the Base Rent Abatement for the Base Rent Abatement Period shall automatically terminate as of the Basic date of such Default and Tenant shall immediately be obligated to begin paying Base Rent annually and proportionately for the Premises in full; provided, however, that notwithstanding any provision to the contrary set forth in Article 31 of this Lease, in no event shall Tenant be liable to Landlord for any fraction Base Rent abated prior to such Default unless and until this Lease is terminated as a result of a Default by Tenant. Upon any termination of this Lease Year from as a result of a Default by Tenant, Tenant shall be liable to Landlord for all Base Rent abated prior to such Default. Except in connection with an Exempt Transfer, the Base Rent Abatement shall be personal to the original Tenant and including shall only apply to the Commencement Date extent that the original Tenant (and from not any assignee, or any sublessee or other transferee of the original Tenant’s lease in this Lease) is the Tenant under this Lease during such Base Rent Abatement Period. 7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) amounts related to Insurance Costs and including Taxes (each as defined below), (b) the Rent Adjustment Date such Property Management Fee (as defined below), (c) Operating Expenses (as defined below), (d) all Association Fees and (e) any other Basic Rent as may become payable amounts that Tenant assumes or agrees to pay under the provisions of SCHEDULE 2this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to SMRH:418641422.8 12 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. Following Base Rent and Additional Rent shall together be denominated “Rent.” Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first rent payment day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the Commencement Date (basis of the number of days in the month and shall be paid at the then-current rate for such fractional month. 7.4. Except with respect to the period defined Base Rent Abatement provided in Section 7.1 hereof, 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 in this Lease, any casualty or taking, or (d) except as expressly provided in Section 4.8, 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 next sentence below)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 Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on period prior to the Commencement Date and to be in respect date of the period from and including expiration or earlier termination of the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant Term or this Lease shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of survive any such accounting statements provided by such contractor expiration or earlier termination; provided, however, that nothing in this sentence shall in any way affect Tenant’s obligations with respect to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicableany other period. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease (Affymetrix Inc)

Rent. 7.1 The Tenant agrees to pay to Landlord rent, without deduction or set off, for the entire term hereof for said premises at the rate of SEE PARAGRAPH 25.A. per month. One such monthly installment shall be due and payable on the execution date hereof, and a like monthly installment shall be due and payable without demand or invoice issued on or before the first day of each __________ month 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 calendar month during which the said commencement date shall fall a sum equal to that proportion of the 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 during which the said commencement date shall fall bears to the total number of days in such month, and all succeeding installments of rent shall be payable on or before the first day of each succeeding calendar month during the hereby demised term as first above provided. In addition, Tenant agrees to deposit with Landlord on the execution date hereof the sum of ZERO, which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and agrees obligations under this lease, it being expressly understood and agreed that it shall be responsible for such deposit is not an advance rental deposit, a last month's rental deposit, nor a measure of Landlord's damages in case of Tenant's default. Upon the payment occurrence of the Basic Rent annually and proportionately for any fraction event of a Lease Year default by Tenant, Landlord may, from and including the Commencement Date and from and including the Rent Adjustment Date time to time, without prejudice to any other remedy provided herein or provided by law, use such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect fund to the period defined in the next sentence below)extent necessary to make good any arrears of rent and any other damage, the Basic Rent shall be divided into four (4) equal portions injury, expense or liability caused by such event of default; and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoingsto 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, VAT and any and all other taxes or sums whatsoever as become payable or refundable remaining balance of such deposit shall be returned by the Landlord to Tenant to the Landlord under the provisions of Clause 10.9 upon termination of this Leaselease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Conns Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment (a) Commencing on the Commencement Date (with respect the “Base Rent Commencement Date”), and thereafter throughout the term of this Lease, Tenant covenants to pay Landlord, without demand therefor and without any setoff, counterclaim, abatement or deduction whatsoever, a net fixed minimum annual rent (herein called the “Base Rent”) equal to the period “Base Rental Rate” (as such term is defined in Schedule C attached hereto and by this reference made a part hereof) from time to time in effect during the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 term of this Lease. 7.3 (b) The Tenant shallBase Rent shall be payable commencing on the Base Rent Commencement Date and thereafter in equal monthly installments in advance on the first day of each and every calendar month during the term of this Lease. If the Base Rent Commencement Date or the last day of the term of this Lease occurs on a day other than the first or last day, if possiblerespectively, ensure that direct contractual relationships are established between of a calendar month, then the Tenant and the contractor Base Rent for the services included partial calendar month in which the Outgoings. If direct contractual relationships between Base Rent Commencement Date or such last day occurs shall be a prorated portion (on a per diem basis) of a full monthly installment of Base Rent. (c) It is the purpose and intent of Landlord and Tenant and a contractor cannot that the Base Rent payable hereunder shall be establishedabsolutely net to Landlord so that this Lease shall yield, net to Landlord, the Base Rent specified herein in each year during the term of this Lease. Accordingly, and without limiting the generality of the foregoing, Tenant shall be fully responsible for (and shall timely pay) all costs, expenses and charges of every kind and nature whatsoever relating to the Premises (whether ordinary or extraordinary, foreseen or unforeseen) that may arise or become due or payable during or in respect of the term of this Lease, including all costs, expenses and charges relating to the operation, maintenance, repair, replacement, use and/or occupancy of the Premises (it being understood, however, that nothing in this sentence shall make Tenant responsible for any debt service that is payable by Landlord under any Mortgage loan). Tenant shall direct be responsible for all such contractors costs, expenses and charges whether or not they are first due and payable during the term of this Lease, so long as they are attributable to account on a monthly basis directly to Tenant period falling within (or prior to) such term. The provisions of this Section 3(c) shall provide copies on a monthly basis survive the expiration or sooner termination of any such accounting statements provided by such contractor to Landlord together with the applicable statement)this Lease. (d) All sums, payment of which shall be made other than Base Rent, payable by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease are considered additional rent for all purposes of this Lease (including and the payment Base Rent and all additional rent are collectively called “Rent”). Landlord’s delay in rendering, or failure to render, any statement required to be rendered by Landlord for any Rent for any period shall not waive Landlord’s right to render a statement or collect that Rent for that or any subsequent period. The rendering of an incorrect statement shall not waive Landlord’s right to render a corrected statement for the period covered by the incorrect statement and collect the correct amount of the Basic Rent. (e) Landlord may, at its option, direct Tenant, from time to time, to pay all or any portion of the Rent directly to any other Person or party upon reasonable advance written notice to Tenant from Landlord; Landlord acknowledging and agreeing that Tenant shall be made against Invoices issued by the Landlord entitled to rely upon such written notice without liability to Tenant to the Tenantextent Tenant makes such payments as directed.

Appears in 1 contract

Sources: Lease Agreement (Credence Systems Corp)

Rent. 7.1 The (a) In consideration of this Lease, Tenant covenants promises and agrees that it to pay Landlord the Basic Rental, without deduction or set off, for each and every month of the Lease Term and further promises and agrees to pay all Additional Rent which becomes due hereunder. The nonpayment of any Additional Rent shall be responsible for afford Landlord all the payment rights and remedies as are herein provided in the case of nonpayment of the Basic Rental. Any term or provision of this Lease to the contrary notwithstanding, the covenant and obligation of Tenant to pay Rent annually hereunder shall be independent from any obligations, warranties, representations, express or implied, if any, of Landlord herein contained. (b) The Basic Rental installment for the first month of the Lease Term shall be payable by Tenant to Landlord contemporaneously with the execution hereof, and proportionately a like monthly installment shall be due and payable without demand on or before the first day of each calendar month during the Lease Term beginning with the second month of the Lease Term. Basic Rental for any fraction fractional month at the beginning or end of a the Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent Term shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisprorated. 7.2 From and including the Commencement Date(c) Notwithstanding any expiration or earlier termination of this Lease, the Tenant shall Tenant’s obligation to pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Additional Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord continue and shall cover all periods up to the date this Lease expires or is terminated. Tenant.’s obligation to pay any and all Additional Rent under this Lease and Landlord’s and Tenant’s obligation to make the Initial:

Appears in 1 contract

Sources: Industrial Lease Agreement (Collegiate Pacific Inc)

Rent. 7.1 The 4.01 Tenant covenants shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and agrees that it shall be responsible Additional Rent due for the payment Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of the Basic Rent annually Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and proportionately be liable for any fraction of a Lease Year from all rental, sales and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date use taxes (with respect to the period defined in the next sentence belowbut excluding income taxes), the Basic if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges of Additional Rent shall be divided into four (4) equal portions due and each portion will be paid quarterly payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent Payment Date in every for the third full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease Yearby Tenant. The first (1st) rent payment All other items of Rent shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the entity, and sent to the address, Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant designates and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractordoes not pay any Rent when due hereunder, as applicable. 7.4 If required by the Landlord, the Tenant shall pay Landlord an administration fee in the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% 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 correct amount of Rent shall be considered a payment on account or bank accounts (but not more than two (2)) either in Germany or another country which of the Landlord has notified in writing 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. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and for any partial month during the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost Term shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the prorated. No endorsement or statement on a check or letter accompanying payment of the Basic Rent) shall be made against Invoices issued by the Landlord considered an accord and satisfaction. Tenant’s covenant to the Tenantpay Rent is independent of every other covenant in this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Versant Corp)

Rent. 7.1 The Tenant covenants and agrees total rent that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect Tenants agree to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under for the provisions of Clause 10.9 premises, for the term, is $.00 This total rent is due upon execution of this Lease. 7.3 The Tenant shalllease. However, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in convenience of the Outgoings. If direct contractual relationships between Tenants, this rent shall be paid by the Tenant and a contractor cannot be established, Tenants to the Landlord in installments as outlined in Addendum A – Payment Schedule. Rent is always due on the first of the month regardless of lease commencement date. 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 Landlord the first months’ rent installment unless otherwise agreed in writing; said payments to be considered a reservation fee due on execution until occupancy when said payments will be considered rent due and paid. A late charge of 5% of the overdue rent will be assessed on the fifth calendar day of the month if any rent installment is not received by the Landlord on or before the first calendar day of the month. An additional 5% of the outstanding balance will be assessed if the rent remains unpaid after the fifteenth (15th) calendar day of the month. Said late charges shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis 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 any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall $50.00 will be made by Tenant 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 applicable contractor within thirty (30) days following receipt effect that such payment is made in full satisfaction of an Invoice from Landlord or contractor, as applicable. 7.4 If required the amounts then due. Notwithstanding such acceptance by the Landlord, the Landlord may avail himself of any other legal remedies he may have. If Tenant shall pay makes any payments hereunder, and then fails to occupy the Basic Rent reserved by Clause 7.1 and VAT by wire transfer premises or banker's standing order fails to a bank account comply with any other term or bank accounts (but not more than two (2)) either in Germany or another country which requirement of this agreement, Landlord may keep any such payments as partial liquidated damages. Notwithstanding retention of such payments as liquidated damages, the Landlord has notified shall have, in writing to addition, any other rights afforded Landlord under this lease against the TenantTenant for breach of this lease. If Landlord requires Basic Rent In addition, if the first month’s rent installment, the security and VAT damage deposit are required to be paid at the time of execution of this lease and are not paid at such time, or if such payments are to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds be made pursuant to an account agreed upon schedule (Addendum A), and such payments are not made at the time set forth in Germanysuch schedule, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including reserves the payment right at any time after such time by which such payments should have been made, to give Tenant(s), or any of the Basic Rent) shall be made against Invoices issued 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 period, then the Landlord may rent the demised premises to others and may retain any amounts paid to that date as partial liquidated damages and, in addition, may seek to enforce any other rights the Landlord may have against the Tenant, and may, in addition, terminate the lease.

Appears in 1 contract

Sources: Lease Agreement

Rent. 7.1 The Tenant covenants Except for delinquent rent, all rent under leases and agrees that it other income attributable to a Property shall be responsible apportioned on a per diem basis as of midnight on the date immediately preceding the Adjustment Closing Date. All such rent and other income, including commissions earned, for the payment period preceding the Adjustment Closing Date shall be deemed to be property of the Basic Rent annually applicable Contributors, and proportionately all rent and other income for any fraction period commencing as of a Lease Year the Adjustment Closing Date and thereafter shall be the property of the Operating Partnership for the purpose of making the adjustments set forth herein. Amounts owed under this paragraph 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, but shall be deemed the property of the appropriate Contributors. Payments received by the Operating Partnership from tenants from and including after the Commencement Closing with respect to a Property shall be applied first to rents and other amounts then due the Operating Partnership from such tenant and then to such tenant's delinquent rent as of the time of apportionment. The Operating Partnership shall use reasonable efforts to collect delinquent rents for the benefit of the Contributors but in no event shall be obligated to evict or sue any tenants in order to coll▇▇▇ such rents and shall cooperate with the Contributors in the collection of any delinquent amounts; provided, however, that 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 period after the Adjustment Closing Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in Property and the next sentence below), the Basic Rent related personal property shall be divided into four (4) equal portions turned over to the Operating Partnership for application in accordance with the terms of this paragraph. All accounts receivable, notes, cash and each portion will be paid quarterly in advance on each Rent Payment bank accounts of the Constituent Parties existing as of the Adjustment Closing Date in every Lease Year. The first (1st) rent payment and relating to the Properties shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant transferred at Closing to the Landlord under the provisions of Clause 10.9 of this LeaseOperating Partnership. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Master Agreement (Fac Realty Trust Inc)

Rent. 7.1 The 3.01. Tenant covenants shall pay the Fixed Rent in equal monthly installments in advance on the first day of each and agrees that it shall be responsible for every calendar month during the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including Term. If the Commencement Date and from and including occurs on a day other than the first day of a calendar month, the Fixed Rent for the partial calendar month at the commencement of the Term shall be prorated. Upon execution of the Lease, Tenant shall pay the Advance Rent which shall be applied to the first month's Fixed Rent following the Commencement Date. 3.02. The Rent shall be paid in lawful money of the United States to Landlord or Landlord's agent at its office, or such other place, as Landlord shall designate by notice to Tenant. Tenant shall pay the Rent Adjustment Date such other Basic Rent promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as may become payable under 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 provisions check of SCHEDULE 2any other person, and any check received by Landlord shall be deemed received subject to collection. Following If any check is mailed by Tenant, Tenant shall post such check in sufficient time prior to the first rent date when payment is due so that such check will be received by Landlord on or before the date when payment is due. 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 Commencement Date (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. Notwithstanding the foregoing, in the event Tenant in good faith disputes a liability asserted by Landlord, Tenant may designate the item(s) to which its payments should be credited provided Tenant's designation does not prejudice Landlord's position with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisdispute. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings3.05. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), Any payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the due Landlord under this Lease which is not paid within five (including 5) days of written notice of non-payment shall, from the due date until such payment is received by Landlord, bear interest at the prime rate of Chase Bank, NA, in New York plus 6% per annum (the Basic Rent"Late Payment Rate"), provided however, the aforesaid interest shall not be imposed unless Landlord fails to receive an overdue payment within five (5) shall be made against Invoices issued by the Landlord days of Landlord's written notice to the TenantTenant thereof.

Appears in 1 contract

Sources: Lease Agreement (Eschelon Telecom Inc)

Rent. 7.1 The 2.1 Tenant covenants and agrees that it shall be responsible for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year pay to Landlord all sums due hereunder from and including time to time from the Commencement Date without prior demand, together with all applicable Florida sales tax thereon; however, unless otherwise provided in this Lease, payments other than Tenant’s regular monthly payments of Base Rent and from “Increased Operating Costs” (subsequently defined), shall be payable by Tenant to Landlord within five (5) days following demand, except as otherwise provided in this Lease. All other charges other than Base Rent that are required to be paid by Tenant to Landlord under this Lease shall constitute Additional Rent. Base Rent and including Additional Rent (Base Rent and Additional Rent are collectively referred to as “Rent”), for any “Lease Year” consisting of more or less than twelve (12) months shall be prorated on a per diem basis, based upon a period of 365 days. Rent payable for any partial month shall be prorated on a per diem basis, based upon the actual number of days in the month. Tenant agrees that its covenant to pay Rent and all other sums under this Lease is an independent covenant and that all such amounts are payable without counterclaim, set-off, deduction, abatement, or reduction whatsoever, except as may be expressly provided for in this Lease. 2.2 Subject to any escalation which may be provided for in this Lease, Tenant shall pay Base Rent for the Term in the initial amount specified in the Lease Summary, which, except for the first installment (which shall be for the last 15 days of June, 2000 and which shall be payable on or before the Rent Adjustment Date Commencement Date), shall be payable throughout the Term in equal monthly installments in advance on the first day of each calendar month of each year of the Term, such monthly installments to be in the amounts (subject to escalation) specified in the Lease Summary. The obligation of Tenant to pay Rent shall commence on the Rent Commencement Date. The Base Rent described above shall be adjusted at the beginning of the second and each succeeding Lease Year during the Term of this Lease as provided in the Lease Summary. 2.3 In addition to the Base Rent specified in this Lease, Tenant shall pay to Landlord as Additional Rent for the Premises Tenant’s Proportionate Share of the amount by which the annual “Operating Costs” (as subsequently defined) exceed the Operating Costs incurred during the Base Year. Such excess is referred to as the “Increased Operating Costs.” Tenant’s obligation to pay its proportionate share of Increased Operating Costs shall commence as of the first day immediately subsequent to the last day of the Base Year. The amount of Increased Operating Costs payable to Landlord by Tenant may be reasonably estimated by Landlord for such period(s) as Landlord may determine from time to time (not to exceed twelve (12) months), and Tenant shall pay to Landlord the amounts so estimated in equal installments, in advance, on the first day of each month during such period. Within sixty (60) days after the end of the period for which estimated payments have been made, Landlord shall furnish to Tenant a statement, showing the actual amount payable by Tenant based upon actual costs. If such actual Increased Operating Expenses for such calendar year shall exceed Tenant’s payment so made, Tenant shall pay to Landlord the deficiency within fifteen (15) days after receipt of said statement. If Tenant’s payments shall exceed such actual Increased Operating Expenses, as shown on such statement, such excess shall be applied against payments next becoming due under this Lease, or, if the Lease has expired, shall be promptly refunded to Tenant. Tenant will have the right to review Landlord’s books and records relating to Operating Costs, and to cause an audit of such books and records to be made by an independent certified public accountant. Landlord agrees to cooperate with such accounting in completing such audit expeditiously and shall make its books and records available during normal business hours at its office. The cost of such audit will be borne by Tenant unless such audit reveals that the amount charged by Landlord for Operating Costs exceeds the total amount of actual Operating Costs by more than five percent (5%). For purposes of this Lease, Operating Costs means all “Taxes,” “Common Area Maintenance Charges,” “Insurance Premiums” (as such terms are subsequently defined), and all other Basic assessments payable by the owner(s) of the Building attributable to the Premises as its proportionate share under that certain Declaration of Protective Covenants and Restrictions for International Corporate Park dated June 28, 1995 and recorded in Official Records Book 16836, Page 1248, of the Public Records of Dade County, Florida and any supplements, amendments, replacements or additions thereto (collectively, the “Declaration”). 2.4 Rent shall be paid to or upon the order of Landlord at Landlord’s Address or as otherwise designated in writing by Landlord. Landlord may become change its address by notice to Tenant of such change pursuant to Section 19.2 hereof. No payment by Tenant or receipt by Landlord of an amount less than the Rent due hereunder shall be deemed to be other than on account of the earliest stipulated Rent due hereunder. Nor shall any endorsement or statement on any check or any letter accompanying any check be deemed to be an accord and satisfaction. 2.5 Any Base Rent or Additional Rent payable by Tenant to Landlord under this Lease which is not paid within ten (10) days after due, will be subject to (i) a late payment charge, as Additional Rent, of three (3%) percent of the delinquent amount, in each instance, to cover Landlord’s additional administrative costs and (ii) if any payment shall remain overdue for more than fifteen (15) days, interest on all such unpaid sums (other than the late charge), at a per annum rate equal to the lesser of the highest rate permitted by law or fifteen percent (15%)]. The rate of interest determined pursuant to the preceding sentence is sometimes hereinafter referred to as the “Maximum Interest Rate.” Such late charges and interest will be due and payable upon demand, and will accrue from the date that such Base Rent, Additional Rent, late charges or other sums are payable under the provisions of SCHEDULE 2this Lease until actually paid by Tenant. Following Such late charges and interest shall not be considered the first rent payment granting of a grace period. 2.6 Tenant shall also pay all applicable Florida sales tax levied on Rent, as well as any taxes attributable to the personal property and trade fixtures owned by Tenant. 2.7 Landlord acknowledges receipt of a security deposit in the amount specified on the Commencement Date (with respect Lease Summary to be held by Landlord, without any liability for interest thereon, as security for the period defined in the next sentence below), the Basic Rent performance by Tenant of all its obligations under this Lease. Landlord shall be divided into four (4) equal portions and each portion will be paid quarterly entitled to commingle the security deposit with Landlord’s other funds. If Tenant defaults in advance on each Rent Payment Date in every Lease Yearany of its obligations under this Lease, which default remains uncured beyond any applicable cure period. The first (1st) rent payment shall be made on the Commencement Date and Landlord may at its option, but without prejudice to be in respect any other rights which Landlord may have, apply all or part of the period from and security deposit to compensate Landlord for any loss, damage, or expense sustained by Landlord as a result of such default (including sales taxes). If all or any part of the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Datesecurity deposit is so applied, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by restore the Tenant security deposit to the Landlord under its original amount on demand of Landlord. Subject to the provisions of Clause 10.9 this Section 2.7, within ten (10) days following termination of this Lease, if Tenant is not then in default, the security deposit will be returned by Landlord to Tenant. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including 2.8 To secure the payment of all Rent and other sums of money due and to become due hereunder and the Basic Rentfaithful performance of this Lease by Tenant, Tenant hereby gives to Landlord an express first and prior contract and landlord’s lien and security interest on all property now or hereafter acquired (including fixtures and equipment) by Landlord (and not by any customer of Landlord) which may be placed in the Premises and also upon all proceeds of any insurance which may accrue to Tenant by reason of destruction of or damage to any such property, specifically excluding, however, all items of inventory and merchandise located in the Premises from time to time. Such property shall not be removed therefrom without the written consent of Landlord until all arrearages in rental and other sums of money then due to Landlord hereunder shall first have been paid. All exemption laws are hereby waived in favor of said lien and security interest. This lien and security interest is given in addition to Landlord’s statutory lien and shall be made against Invoices issued cumulative thereto. Landlord shall, in addition to all of its rights hereunder, also have all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in the State of Florida. To the extent permitted by law, this Lease shall constitute a security agreement under Article 9 of the Florida Uniform Commercial Code. Notwithstanding the foregoing, Landlord agrees to the subordinate its lien to a bona fide lender providing acquisition financing or lease financing for Tenant’s furniture, fixtures, and equipment, so that Landlord will have a second lien on such furniture, fixtures and equipment. Such subordination shall be automatic, but Landlord shall, upon Tenant’s written request, execute such documents as may be reasonably required by any such lender to confirm or evidence such subordination.

Appears in 1 contract

Sources: Commercial/Industrial Building Lease (Intcomex Holdings, LLC)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for (A) From the payment date of this Lease Agreement to the date of the Basic Rent annually and proportionately for any fraction issuance of a Lease Year from and including the Commencement Date and from and including Bonds referred to in Paragraph 22 hereof, the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect County shall pay to the period defined in Issuer as rent hereunder the next sentence belowsum of One Dollar ($1.00), the Basic Rent receipt and sufficiency of which is hereby acknowledged by the Issuer. Commencing upon the date of issuance of the Bonds and continuing so long as the Bonds are outstanding and unpaid, the County shall pay to the Issuer as rent hereunder the amounts set forth in Exhibit C hereto (the “Lease Payments”) on the dates prescribed therefor in Exhibit C hereto (the “Lease Payment Dates”). The parties agree that, if, on the date of execution of this Lease Agreement, the amounts to be set forth in Exhibit C are unascertained, the parties hereto shall execute an addendum to this Lease Agreement in order to add Exhibit C to this Lease Agreement no later than the date of issuance of the Bonds. Such Exhibit C shall provide for semiannual payments of the Lease Payments on and in each year, commencing on ,_ 2014, said date targeted for the completion of the Project, and continuing for so long as the Bonds are outstanding, subject to the conditions set forth in this Section 4(A). The amounts to be set forth in Exhibit C shall be divided into four (4) equal portions to the amounts required to pay the principal of and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made the interest on the Commencement Date Bonds. (B) The parties recognize and agree that integral to be in respect the issuance of the period from and including Bonds for the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement DateProject, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions Issuer will assign certain of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord its rights under this Lease Agreement to a trustee (including the “Trustee”) for the benefit of the owners of the Bonds pursuant to a trust agreement to be executed by and between the Issuer and a Trustee (the “Trust Agreement”). The parties agree that so long as the Bonds remain outstanding and unpaid, all Lease Payments due to the Issuer under subparagraph (A) of this Paragraph 4 shall be paid by the County to the Trustee, as assignee of the Issuer, for deposit into the Lease Payment Fund to be created under the Trust Agreement (the “Lease Payment Fund”) and for disbursement to the owners of the Bonds, all as shall be provided in the Trust Agreement. The parties further agree that any amounts transferred by the Trustee to the Lease Payment Fund pursuant to the Trust Agreement shall be treated, pro tanto, as a payment of rent by the Basic RentCounty pursuant to subparagraph (A) of this Paragraph 4. (C) Commencing on ,_ 2014, and continuing on each Lease Payment Date thereafter for so long as the Bonds are outstanding, the Issuer shall contribute funds toward the Lease Payments in the amount calculated pursuant to the terms of Exhibit D (the “Issuer Contribution Payments”). The Issuer shall send the Issuer Contribution Payments to the Director of Finance of ▇▇▇▇▇▇ County at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇. The Issuer Contribution Payment is a material term of this Lease Agreement and is an absolute and unconditional obligation of the Issuer to the County. Notwithstanding anything herein to the contrary, the Issuer’s failure to make the Issuer Contribution Payments shall not constitute an event of default under this Lease Agreement. In addition, nothing in this subparagraph 4(C) shall be made against Invoices issued by affect or impair the Landlord obligation of the County, which is absolute and unconditional (subject to Paragraph 8 (Nonappropriation), to pay the TenantLease Payments as provided in this Lease Agreement, or affect or impair the right of action, which is also absolute and unconditional, of the Issuer to institute suit to enforce and collect such payment.

Appears in 1 contract

Sources: Lease Agreement

Rent. 7.1 The (a) Commencing with the Rent Commencement Date. Tenant covenants shall pay as annual rent for the Premises the sum of Eighty-Four Thousand and agrees that it No/100 Dollars $84,000.00) per annum payable in equal monthly installments of Seven Thousand and No/100 Dollars ($7,000.00) each (the “Base Rent”). All such monthly installments of rent shall be responsible for payable to Landlord at the payment address specified in Article 33 of this Lease in advance Amount previous notice or demand therefor, and without deduction setoff or recoupment with the Basic first monthly installment to be due and payable no later than the Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from each subsequent monthly installment to be due and payable on the first day of each and every month following the Rent Commencement Date during the Term hereof. if the Rent Commencement Date is a date other than the first day of a month, rent for the period commencing with and including the Rent Adjustment Commencement Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following until the first rent day of the following month shall be pro-rated at the rate of one-thirtieth (1/30th) of the fixed monthly rental per day. Not with standing the foregoing. Tenant shall not be obligated to pay Base Rent for the first five (5) months following the Rent Commencement Date. (b) Landlord hereby acknowledges receipt of Seven Thousand and No/100 Dollars ($7,000.00) to be held as security for the performance by Tenant of Tenants covenants and obligations under this Lease it being expressly understood that the deposit may be commingled with other funds of Landlord and shall not be considered an advance payment on of rental or a measure of Landlord’s damage in case of default by Tenant. Upon the Commencement Date (with respect occurrence of any event of default by Tenant or breach by Tenant of Tenant’s covenants under this Lease, Landlord may, from time to time, without prejudice to any other remedy, use the security deposit to the period defined in extent necessary to make good any arrears of rent and/or any damage, injury, expense or liability caused to Landlord by the next sentence below)event of default or breach of covenant. In the event that Tenant shall fully and faithfully comply with all the terms, conditions and covenants of this Lease, any part of the Basic Rent security not used or retained by Landlord shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on returned to Tenant after the Commencement Date and to be in respect expiration date of the period from Term of this Lease and including after delivery of exclusive possession of the Commencement Date Premises to Landlord; provided, however, that Landlord may retain all or a portion of the security until Landlord makes the final annual adjustments of Annual Operating Costs and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From Real Estate Taxes and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant ascertains Tenant’s share of such amounts which accrued prior to the expiration of the Term. Subject to the foregoing sentence, Landlord under shall return the provisions security deposit to Tenant within ninety (90) days after the close of Clause 10.9 Landlord’s Fiscal Year following the expiration of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Office Lease (Teletronics International, Inc.)

Rent. 7.1 The 4.1 Tenant covenants and hereby agrees that it shall be responsible for to pay Landlord the payment Base Rent. For purposes of Rent adjustment under the Lease, the number of months is measured from the first day of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including calendar month in which the Commencement Date and from and including falls. Each monthly installment (the Rent Adjustment Date such other Basic Rent as may become "Monthly Rent") shall be payable under the provisions of SCHEDULE 2. Following by check or by money order on or before the first rent payment on the Commencement Date (with respect day of each calendar month. In addition to the period defined in the next sentence belowBase Rent, Tenant also agrees to pay Tenant's Share of Operating Expenses and Taxes (each as hereinafter defined), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever of money as shall become due and payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallas hereinafter set forth, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord constitute additional rent under this Lease (including 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. 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 on Execution as payment of the Basic Rentfirst 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 shall be made against Invoices issued held by Landlord as security for the Landlord performance by Tenant of all of the covenants of this Lease to the Tenant.be performed by Tenant and Tenant shall not be entitled to interest thereon. The Security Deposit is not an advance rent deposit,

Appears in 1 contract

Sources: Lease Agreement (Telenav, Inc.)

Rent. 7.1 (a) Tenant shall pay to Landlord as rental the amount specified in the Basic Lease Information as the Monthly Base Rent. The Tenant covenants and agrees that it first Monthly Base Rent due under this Lease shall be responsible for payable by Tenant immediately prior to term commencement and all subsequent Monthly Base Rent payments shall be payable 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 the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Monthly Base Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding credited against the next following payment of Monthly Base Rent Payment Date calculated on a daily basisotherwise due. 7.2 From and including (b) Effective as of each anniversary date of the Commencement Date, the Monthly Base Rent shall be increased as indicated in the Basic Lease Information. (c) 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." (d) Tenant hereby acknowledges that late payment by Tenant 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 not be received by Landlord within five (5) days after Landlord shall have given Tenant notice that the some is past due, Tenant shall pay all Outgoingsto Landlord a late charge equal to four percent (4%) of such overdue amount. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, VAT nor prevent Landlord from exercising any of the other rights and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord remedies under the provisions of Clause 10.9 of this Lease. 7.3 The (e) Any amount payable by Tenant shallto Landlord, if possiblenot paid within five (5) days of when due, ensure shall bear interest from the date due until paid at the rate of ten percent (10%) per annum or, if a higher rate is legally permissible, at the highest rate legally permitted provided that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor caninterest shall not be established, the Landlord shall direct all such contractors to account payable on a monthly basis directly to late charges incurred by Tenant (or shall provide copies nor on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of amounts upon which shall be made late charges are paid by Tenant to the applicable contractor within thirty (30) days following receipt extent such interest would cause the total interest to be in excess of an Invoice from Landlord that legally permitted. Payment of interest shall not excuse or contractor, as applicablecure any default by Tenant under this Lease. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)f) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any All payments due from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) hereunder shall be made against Invoices issued to Landlord without deduction or offset in lawful money of the United States of America at the address for payment set forth in the Basic Lease Information, or to such other person or at such other place as Landlord may from time to are designate by the Landlord notice to the Tenant.

Appears in 1 contract

Sources: Net Office Lease (Doubletwist Inc)

Rent. 7.1 The Tenant covenants Rent due for the entire Lease Term is $ . Rent shall also include any other charges identified in this Lease as “Rent” or “Additional Rent”. Rent and agrees that it Additional Rent is payable in one of the following payment options: Option #1 Equal payments of $ due the 1st day of each month. If Rent is not paid in accordance with the terms set forth above, Landlord will commence with the removal of the Tenant. Rent is due on the specified dates in the amounts shown above. Any Rent received more than five (5) days after the due date shown above (the 1st of every month for the monthly option) is subject to a late fee of 5% of the Tenant’s monthly rent (but will not exceed $50.00) which shall be due as Additional Rent. In addition, beginning with the sixth day after the due date of a rent payment, you will be charged an additional charge of $5.00 per day until payment is received in full. Tenant’s right of possession and all of Landlord’s obligations are expressly contingent on prompt payment of Rent and use of the Premises by Tenant is granted only on the condition that Rent is paid on time. If Tenant fails to pay Rent or Additional Rent due under this Lease, Landlord will give Tenant a fourteen (14) day notice to pay or vacate Premises (excluding weekends and holidays). Should Tenant fail to pay in full, Landlord will refer the matter to an attorney to proceed with eviction. Landlord will not accept partial payment of Rent or Additional Rent. Should Tenant elect to vacate the Apartment, Tenant continues to remain liable for all Rent and charges due through the balance of the Lease Term. Tenant is responsible to pay all court costs and attorney’s fees in an eviction suit, or for any other legal action commenced by Landlord for the payment enforcement of the Basic Rent annually terms and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 conditions of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant Owed rent will be sent to Collections and a contractor can30% Collections Fee will be assessed. Payments shall be applied first to any unsatisfied charges, late fees, repairs, or other fees owed by Tenant, and then to Additional Rent that is owed, then to Rent. Rent payments will be applied to the earliest date owing. This Lease does not be establishedautomatically renew upon expiration of the Lease Term designated. In order for Current Tenants to remain in their current room, they must contact the Landlord shall direct all such contractors to account Management office and submit a Lease renewal form. Apartments are filled on a monthly basis directly to Tenant (first come basis. Current Tenants must reserve early or shall provide copies on a monthly basis of risk losing their current room assignment. Landlord may accept or deny any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicablerenewal request at its sole discretion. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement

Rent. 7.1 The (a) Tenant covenants and agrees that it shall be responsible pay to Landlord, at Landlord’s address for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date notice hereinafter set forth or at such other Basic Rent place as Landlord may become payable under the provisions specify, without any right of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)set-off or deduction and without any prior notice of demand, the Basic Rent as set forth in Exhibit “A” in equal monthly installments for each month during the term of this Lease, plus any taxes, fees or governmental charges owed on this rental payment. Basic Rent plus any taxes, fees, charges or other amounts due shall be divided into four (4) equal portions due and each portion will be paid quarterly payable monthly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made advance, beginning on the Commencement Date and to be in respect continuing on the first day of each month thereafter throughout the period from and including Lease Term. If the Commencement Date is other than the first day of a month, the amount of Basic Rent payable on the Commencement Date shall be one-thirtieth (1/30) of the monthly Basic Rent for each day prior to and including the Working Day immediately preceding first day of the next following month and, if the term of this Lease terminates other than on the last day of a month, the amount of the final installment of Basic Rent Payment Date calculated on a daily basisshall be one-thirtieth (1/30) of the monthly Basic Rent for each day then remaining in the Lease term. 7.2 From (b) As a further inducement for Landlord to enter into this Lease, Tenant shall also pay to Landlord, as Additional Rent, reimbursement for property taxes for the Premises and including for insurance carried by the Commencement DateLandlord for the Premises. The Tenant may elect to purchase insurance on the Premises in lieu of reimbursing the Landlord for insurance purchased by the Landlord. If the Tenant elects to purchase the insurance directly, it shall obtain the Landlord’s consent as to the amount and nature of the insurance and the insurance company selected. The Tenant shall name the Landlord as an additional insured. (c) It is acknowledged by the parties hereto that the late payment by Tenant to Landlord of Basic Rent, Additional Rent, or any other sums due hereunder will cause Landlord to incur costs not contemplated by this Lease the exact amount of which would be extremely difficult and impractical to ascertain. Such costs include, but are not limited to, processing, clerical and accounting charges, lost interest, and late charges which may be imposed by Landlord by the terms of any mortgage encumbering Premises. Therefore, in the event Tenant should fail to pay any installment of Basic Rent, Additional Rent, or any sum due hereunder punctually on the due date thereof, Tenant shall pay all Outgoingsto Landlord as an additional monthly charge a late fee for each month equal to five per cent (5%) of each such installment of Basic Rent, VAT and any and all Additional Rent, or other taxes sum or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 twenty-five dollars ($25.00) whichever is greater. The Tenant shall, if possible, ensure late fee shall be due for each month that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement)rent payment remains unpaid. In addition, payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts Landlord thirty dollars (but not more than two (2)$30.00) either for each check presented to landlord in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued any obligations hereunder which are not paid by the Landlord to the Tenantbank upon which such check is drawn.

Appears in 1 contract

Sources: Lease (Knology Inc)

Rent. 7.1 The 4.1 Tenant covenants and hereby agrees that it shall be responsible for to pay Landlord the payment Base Rent. For purposes of Rent adjustment under the Lease, the number of months is measured from the first day of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including calendar month in which the Commencement Date and from and including falls. Each monthly installment (the Rent Adjustment Date such other Basic Rent as may become "Monthly Rent") shall be payable under the provisions by check or by money order or electronic transfer of SCHEDULE 2. Following funds on SMRH:422502059.9 -6- or before the first rent payment on the Commencement Date (with respect day of each calendar month. In addition to the period defined in the next sentence belowBase Rent, Tenant also agrees to pay Tenant's Share of Operating Expenses and Taxes (each as hereinafter defined), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever of money as shall become due and payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shallas hereinafter set forth, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord 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. 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. Notwithstanding the foregoing provisions of this Section 4.2, the Late Charge shall not be imposed with respect to the first late payment in any calendar year 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 any calendar year 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 calendar year which is not received within five (5) days after its due date. 4.3 Simultaneously with the execution hereof, Tenant shall (i) deliver to Landlord 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) be deemed to have delivered to Landlord 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 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 of 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 the Basic Rent) shall be made against Invoices issued any Rent or any other sum in default and/or to cure any other such failure by the Landlord to the Tenant.. SMRH:422502059.9 -7-

Appears in 1 contract

Sources: Lease Agreement (Ipass Inc)

Rent. 7.1 The (a) Tenant covenants shall pay to Landlord (or to Lender, if directed by Landlord), as minimum annual rent for the Leased Premises during the Term, the amounts set forth in Exhibit “B” attached hereto (“Basic Rent”), payable in advance commencing on the first day of the first month following the month in which the Commencement Date occurs (unless the Commencement Date is the first day of a month, in which case commencing on the Commencement Date) continuing on the first day of each calendar month thereafter during the Term (the said days being called the “Basic Rent Payment Dates”), and agrees that it 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 writing, in funds which at the time of such payment shall be responsible legal tender for the payment of public or private debts in the United States of America and if required by Lender or Landlord by wire transfer in immediately available federal funds to such account in such bank as Lender or Landlord shall designate, from time to time. Upon request by Landlord, Tenant shall establish arrangements whereby payments of the Basic Rent annually and proportionately for any fraction of Additional Rent are transferred by Automated Clearing House Debit from an account established by Tenant at a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date United States bank or other financial institution to such other Basic Rent account as Landlord may become payable under the provisions of SCHEDULE 2designate. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance adjusted on each Rent Payment Date in every certain anniversaries of the Lease YearYear Commencement Date, as set forth on Exhibit “B”. The first (1st) rent payment shall be made on If the Commencement Date and to be in respect shall occur on a date other than the first day of a calendar month, then, Basic Rent for the period from and including the Commencement Date to through and including the Working Day immediately preceding last day of the next following month in which the Commencement Date occurs shall be paid, in advance, on the date hereof, in an amount prorated by (i) dividing the monthly installment of Basic Rent Payment due for the month in which the Commencement Date calculated on a daily basis. 7.2 From occurs by the number of days in such month, and including (ii) multiplying such sum by the numbers of days remaining in such month from and after the Commencement Date, the . (b) Tenant shall pay all Outgoingsand discharge before the imposition of any fine, VAT and any and lien, interest or penalty may be added thereto for late payment thereof, the following (“Additional Rent”), all other taxes amounts and obligations which Tenant assumes or sums whatsoever as become payable agrees to pay or refundable discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added by the Tenant party to whom such payment is due for nonpayment or late payment thereof. In the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis event of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made failure by Tenant to pay or discharge any of the applicable contractor foregoing, Landlord shall have the same rights, powers and remedies provided herein, by Law or otherwise as are available to Landlord in the event of nonpayment of Basic Rent. (c) If any installment of Basic Rent is not paid within thirty (30) ten days following receipt of an Invoice from after written notice is given by Landlord or contractorLender (or Lender’s servicer or other designee of Lender) to Tenant that the same is overdue, as applicable. 7.4 If required by the Landlord, the Tenant shall pay to Landlord or Lender, as the case may be, on demand, as Additional Rent, a late charge equal to five percent (5%) (the “Late Charge”) on such overdue installment of Basic Rent. Tenant acknowledges and agrees that late payment of Basic Rent reserved or Additional Rent by Clause 7.1 Tenant will cause Landlord to incur increased costs not contemplated by this Lease. The exact amount of such costs is extremely difficult to ascertain. Such costs include, but are not limited to, processing and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenantaccounting charges. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment The assessment of the Basic Rent) shall be made against Invoices issued forgoing late charge represents a fair and reasonable estimate of certain costs which Landlord will incur by the Landlord to the reason of a late payment by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Jo-Ann Stores Inc)

Rent. 7.1 The A. Tenant covenants and agrees to pay to Landlord during the Lease Term, without any setoff or deduction whatsoever, the full amount of all Base Rental payments, and any adjustments thereof, due in accordance with the rental schedule set forth in Exhibit B-1 hereof (the "Base Rental"), the full amount of all payments of Additional Base Rental due in accordance with Exhibit B-2 hereof and the full amount of all parking charges, if any, due in accordance with this Lease (the "Additional Base Rental") and all such other sums of money as shall become due under this Lease (including, without limitation, any charges for replacement of electric lamps and ballasts that it are above Building Standard and any other services, goods or materials furnished by Landlord at Tenant's request), all of which hereinafter may be collectively called "Rent." Except as otherwise provided herein, the Base Rental and Additional Base Rental for each calendar year or portion thereof during the Lease Term, shall be responsible due and payable in advance in equal monthly installments on the first day of each calendar month during the Lease Term and any extensions or renewals hereof, and Tenant hereby agrees to pay such Base Rental and Additional Base Rental to Landlord 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 Rental and Additional Base Rental for such month or months shall be prorated, based on the number of days in such month. All such payments shall be by a good and sufficient check. No payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the correct amount of Rent due under this Lease shall be deemed to be other than a payment on account of the Basic earliest Rent annually due hereunder, nor shall any endorsement or statement on any check or any letter accompanying any check or payment be deemed an accord and proportionately satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance or pursue any other available remedy. The acceptance by Landlord of any Rent on a date after the due date of such payment shall not be construed to be a waiver of Landlord's right to declare a default for any fraction other late payment. Tenant's covenant to pay Rent shall be independent of every other covenant set forth in this Lease. B. All Rent not paid when due and payable shall bear interest from the date due until paid (provided Tenant shall be entitled to a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions grace period of SCHEDULE 2. Following the first rent payment on the Commencement Date five (5) days with respect to the period defined first late payment in any calendar year) at the next sentence below)lesser of: 1. eighteen percent (18%) per annum; or 2. the Maximum Rate. In addition, the Basic if Tenant falls to pay any installment of Base Rental, Additional Base Rental or any other item of Rent shall be divided into four when due and payable hereunder, a service fee equal to five percent (45%) equal portions and each portion of such unpaid amount will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date due and to be in respect of the period from and including the Commencement Date to and including the Working Day payable immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Office Lease (Summit Bank Corp)

Rent. 7.1 The (a) Tenant covenants to pay Landlord, as monthly rent for the Leased Premises during the Term, $100.00 (herein called the “Base Rent”) on the first day of each month during the Term, and agrees that it to pay the same at Landlord’s address set forth above or at such other place or to such other person as Landlord from time to time may designate in writing, in such coin or currency of the United States as shall at the time of payment be responsible legal tender for the payment of public and private debts. (b) Tenant covenants to pay and discharge on or before the Basic thirtieth (30th) day after Tenant has received a ▇▇▇▇ therefor, as additional rent, all other amounts, liabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease (the “Additional Rent”, and together with the Base Rent, the “Rent”) (except that amounts payable as liquidated damages pursuant to Section 16 shall not constitute Additional Rent) together with every fine, penalty, interest and cost which may be added for non payment or late payment of such Additional Rent annually and proportionately for and, in the event of any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment failure on the Commencement Date part of Tenant to pay or discharge any of the foregoing within any applicable grace period provided herein, Landlord shall have all rights, powers and remedies provided herein or by law or otherwise in the case of non payment of the Rent. During the occurrence and continuance of an event of default, Landlord shall have the right but not the obligation to perform any agreement or covenant of Tenant hereunder if Tenant shall have failed to perform such agreement or covenant and, upon demand by Landlord, Tenant shall pay to Landlord as Additional Rent any and all costs and expenses (including, but not limited to, all reasonable attorneys’ fees and expenses) that are incurred by Landlord in connection with respect performing any such agreement or covenant. Tenant will also pay on demand to Landlord, as Additional Rent, interest at the rate often (10) percent per annum on all overdue installments of Base Rent from the due date thereof until paid in full, and on all overdue amounts of Additional Rent from the due date thereof until paid in full by Tenant. (c) Landlord shall utilize the check meter and the equipment ancillary thereto currently located on the Property (herein called the “Check Meter”) to measure and record and provide printouts of the measurement of the demand and consumption at the Property of electric current during each month (or other billing period reasonably determined by Landlord) occurring during the Term of this Lease. Landlord shall operate such meter to ascertain Tenant’s consumption of kilowatt hours (herein called “KWH”), by time of day, if applicable, and demand in kilowatts (herein called “KW”) for each month (or other billing period reasonably determined by Landlord). Landlord, at Landlord’s expense, shall maintain and keep the Check Meter in good repair (including replacement, if necessary), working order and condition during the Term of this Lease. During any period that the Check Meter is non-operational, the Electricity Additional Rent (as hereinafter defined) shall be an amount reasonably estimated by Landlord based upon Tenant’s actual average daily consumption or average monthly demand, whichever is more appropriate for calculating the estimated amount, during the twelve (12) month period immediately preceding the estimate period. (d) Tenant shall pay Landlord, as additional rent, within forty five (45) days after receipt of an invoice from Landlord for the furnishing of electricity to the Property as set forth herein, an amount (herein called “Electricity Additional Rent”) determined for each billing period by applying the KWH and KW shown on the Check Meter (or determined by the electrical consultant, if applicable) to the rates pursuant to which Landlord purchases electric current during the particular billing period, including therein any taxes, fuel adjustment charges, surcharges, demand charges, energy charges, time-of-day charges, rate adjustment charges or other impositions of any nature payable by Landlord (taking into account any discounts or rebates received by Landlord) (herein called “Landlord’s Rate”). If consumption or demand is billed at different rates depending on different subdivisions or categories of the rate schedule, then Tenant’s KWH consumption and KW demand shall be billed at Landlord’s Rate per KW or KWH (as the case may be) for such subdivision or category (e.g., KWH consumption is currently billed at different rates depending on the time of day of consumption and accordingly Tenant’s KWH shall be applied separately to the rates applicable to the period defined in which each KWH of Tenant’s consumption was consumed). (e) Following the next sentence below)expiration of each calendar month, Landlord shall submit to Tenant a statement setting forth in reasonable detail the Basic Electricity Additional Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect for such month together with copies of the period from Check Meter printouts showing the KW and including KWH recorded during the Commencement Date applicable month and copies of the public utility rate schedule pursuant to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the which Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor is then purchasing electricity for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of Mill along with any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made other documentation reasonably requested by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicablein connection therewith. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Kraton Performance Polymers, Inc.)

Rent. 7.1 The A. Tenant covenants to pay to Landlord during the Lease Term, without any setoff or deduction except as otherwise expressly provided herein, the full amount of all Base Rent and agrees that it Additional Rent due hereunder and the full amount of all such other sums of money as shall become due under this Lease, all of which hereinafter may be collectively called “Rent.” In addition, Tenant shall promptly pay, as Additional Rent, all rent, sales and use taxes or other similar taxes, including, but not limited to, ad valorem or similar taxes, if any, levied or imposed on Landlord and/or Tenant in relation to the Building and/or Premises by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under this Lease. Base Rent and Additional Rent for each calendar year or portion thereof during the Lease Term, shall be responsible for due and payable in advance in monthly installments on the payment first day of each calendar month during the Basic Rent annually and proportionately for any fraction Lease Term, without demand. If the Lease Term commences on a day other than the first day of a Lease Year from month or terminates on a day other than the last day of a month, then the installments of Base Rent and including the Commencement Date and from and including the Additional Rent Adjustment Date for such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment month or months shall be prorated, based on the Commencement Date number of days in 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 three (3) days after notice from Landlord with respect to the period defined first two (2) late payments in the next sentence below)any calendar year. In addition, the Basic if Tenant fails to pay any installment of Base Rent shall be divided into four and Additional Rent or any other item of Rent when due and payable hereunder, a “Late Charge” equal to five percent (45%) equal portions and each portion of such unpaid amount will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date due and to be in respect of the period from and including the Commencement Date to and including the Working Day payable immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty Landlord, provided, Tenant shall be entitled to a grace period of three (303) days following receipt of an Invoice after notice from Landlord or contractor, as applicable. 7.4 If required by with respect to the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than first two (2)) either late payments in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlordany calendar year. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Industrial Lease (FibroBiologics Inc.)

Rent. 7.1 Rent shall be paid to the University on behalf of House Corporation in the following manner. Each of the Fraternity's members not residing on the Premises shall be charged by Vanderbilt each semester a Greek Facility Management fee (the "Fee"). The Tenant covenants amount of the Fee shall be set each year by Vanderbilt in consultation with all participating fraternities. The Fee shall include the standard amount charged by Vanderbilt to each Greek organization member whose organization participates in the GFMP. A copy of the current GFMP as of the execution of this Lease is attached as Exhibit A. Those Fraternity Members residing on the Premises as approved and agrees authorized by Vanderbilt shall not be charged the Fee but will be charged a chapter house resident fee (''Resident Rent"), which Resident Rent shall also be established under the GFMP. The aggregate amount of Fees and Resident Rent payable by all of the Fraternity's members shall constitute the base rent ("Rent") owed by House Corporation hereunder. It is understood and agreed that it the Rent charged may change from year to year based upon the cost of operating the GFMP and will be dependent upon the number of members in the Fraternity. The House Corporation shall also be responsible for paying for all Improvements, Extraordinary Maintenance, and/or Renovations as defined in Section 8 herein that are required to be made to the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under Premises in accordance with the provisions of SCHEDULE 2said Section 8. Following Notwithstanding the first rent payment on House Corporation’s responsibility for such expenses, the Commencement Date University shall hold and maintain an account for the Fraternity (with respect the “Maintenance Account”), to be funded by Rent paid by the Fraternity. The Maintenance Account shall be charged for the services provided by Vanderbilt hereunder, including any such Improvements, Extraordinary Maintenance and Renovations, but not including those services provided by Vanderbilt pursuant to Section 8(a). In the event this Lease is not renewed by House Corporation for an additional term pursuant to Section 5, then the unpaid charges to the period defined in Maintenance Account, as well the next sentence below)charge for the House Corporation's indebtedness, the Basic shall be excused. The Rent shall be divided into four (4) equal portions collected by the University from Fraternity members and each portion shall be applied toward these charges, as well as to other debts owed by the Fraternity to the University. The University will determine, in consultation with the Fraternity, the order in which the Fraternity's financial obligations will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on amortized through the Commencement Date Fees and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisResidents' Rent. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement

Rent. 7.1 The (a) Tenant covenants and agrees that it shall be responsible pay to Landlord, as base rent (the “Monthly Base Rent”) for the payment Premises for the initial twelve (12) months of the Basic Rent annually and proportionately for any fraction Term of this Lease, a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date monthly amount equal to Forty Five Thousand Nine Hundred Seventy Dollars (with respect to the period defined in the next sentence below$45,970), subject to any credit provided in this Lease if Tenant does not expend the Basic entire Tenant Improvement Allowance (as defined and provided in Exhibit C) and/or any abatement of Base Rent provided herein if Landlord does not deliver the Premises by the Outside Date. Subject to Paragraph 2(b) below, the Monthly Base Rent shall be divided into four (4) equal portions and each portion will be paid quarterly payable in advance on the first day of each calendar month during the Term of this Lease, provided such Monthly Base Rent Payment Date will be subject to increase as provided in every Lease YearParagraph 2(d), below. The first (1st) rent payment Monthly Base Rent shall be made on the Commencement Date and in addition to all other amounts required to be in respect of the period from and including the Commencement Date paid to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant Landlord pursuant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall(b) If the Term of this Lease commences on a date other than the first day of a calendar month, if possiblerent for the period from the date of commencement of the Term hereof through the last day of the calendar month in which such Term commences shall be prorated on the basis of a thirty-day month. In the event the Term of this Lease ends on a day other than the last day of the calendar month, ensure that direct contractual relationships are established between rent for the Tenant period from the first day of the last calendar month of such Term to the end of such Term shall be prorated on the basis of a thirty-day month. One (1) full month of Monthly Base Rent will be payable in advance upon execution of this Lease, and shall be applied as a credit against the first installment(s) of Monthly Base Rent due hereunder. If the Commencement Date does not occur by the Deadline Date and the contractor for cause of the services included delay in the Outgoings. If direct contractual relationships between occurrence of the Commencement Date is not attributable to Tenant’s interference with Landlord’s completion of the Initial Improvements (it being understood that Tenant and a contractor canshall not be established, the Landlord shall direct all such contractors entitled to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis an abatement of Monthly Base Rent for each day of any such accounting statements delay attributable to Tenant’s interference), then the Monthly Base Rent provided by such contractor and reserved in section (a) above shall be abated one (1) day for each day of delay in delivery of the Premises to Tenant beyond the Deadline Date. (c) The installments of rent specified herein shall be paid, without deduction or offset, and without prior notice or demand, except as otherwise specifically provided herein, to Landlord together with the applicable statement)at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, payment ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or at such other address as Landlord may from time to time specify by written notice to Tenant. All amounts of which shall be made money payable by Tenant to Landlord hereunder, if not paid within a ten (10) day grace period commencing when due, shall bear interest from the due date until paid at the rate of 7% per annum or the highest amount allowed by applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractorlaw, as applicablewhichever is less. 7.4 If required by (d) On the Landlordfirst anniversary date of the Commencement Date, (or, in the event said first anniversary date occurs on a date other than the first day of a calendar month, on the first day of the thirteenth (13th) full calendar month of the Term of this Lease,) and on each succeeding anniversary date thereof, the Tenant Monthly Base Rent for the next succeeding twelve-month period of the Term of this Lease shall pay be increased by three percent so that the Basic Monthly Base Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts for the following twelve (but not more than two 12) month period will be one hundred three percent (2)103%) either of the Monthly Base Rent in Germany or another country effect in the month immediately preceding the month in which the Landlord has notified in writing to adjustment occurs as follows: Months 1-12* $ 45,970.00 * Months 13-24 $ 47,349.10 Months 25-36 $ 48,769.57 Months 37-48 $ 50,232.66 Months 49-60 $ 51,739.64 * (plus the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and prorated portion for any partial month due at the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment commencement of the Basic Rent) shall be made against Invoices issued by the Landlord to the TenantTerm).

Appears in 1 contract

Sources: Lease (Marrone Bio Innovations Inc)

Rent. 7.1 The Tenant covenants and agrees a. Tenant's liability for rent shall commence to accrue on the commencement date as defined in paragraph 2.b above, provided that it this lease has not been terminated prior thereto. If the rent commencement date begins on a date other than the first of the month, the rent for such partial initial month shall be responsible for prorated and shall be due and payable on the payment first day of the Basic Rent annually and proportionately for any fraction first full calendar month of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become 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 under the provisions of SCHEDULE 2. Following in equal monthly installments on the first day of each calendar month during the term hereof. b. All payments of rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment hereunder shall be made on to Landlord as the Commencement Date and 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 in respect of the period from or create a partnership or joint venture between Landlord and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basisTenant. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant c. In addition to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors payments required herein as rent to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall also pay the Basic Rent reserved 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 Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (Tenant, including, but not more than two 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. (2)3) either 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 Germany its name or another country which 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 has notified in writing 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 requires Basic Rent and VAT shall be unable to be paid to a bank account located outside of Germany obtain such separate assessment, and the cost 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 wire transfer Basic Rent and VAT to such account exceeds Landlord, which proportionate share shall equal the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne product ▇▇▇▇ined by Landlord. 7.5 Any payments from multiplying the Tenant to the Landlord under this Lease (including the payment amount of the Basic Rent) shall be made against Invoices issued 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 Tenantdue date of the tax. Landlord shall pay said tax bill when due. In no event shall Tenant be liable for interest or pe▇▇▇▇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. 7.1 Lessee covenants to pay to Lessor as a net minimum rent (the "Fixed Rent") during the Lease Term $ per annum for the portion of the Lease Term which precedes , and per annum from through the remainder of the Lease Term. The Tenant covenants and agrees that it Fixed Rent shall be responsible payable in advance in equal monthly installments of $ on the first day of each calendar month beginning , 202 . If the Lease Term does not commence on the first day of a month, the Fixed Rent for the month in which the Lease Term commences shall be appropriately apportioned. Each date on which Fixed Rent is payable hereunder is hereinafter referred to as a "Rent Payment Date". Lessee also covenants to pay, from time to time as provided in this Lease, as Additional Rent: all other amounts and obligations which Lessee assumes or agrees to pay under this Lease; interest at the rate of six percent per annum on such of the foregoing amounts and obligations as are payable to Lessor and are not paid within ten days after the due date (or, if a demand therefor is required by the terms of this Lease, within ten days after such demand), from the due date or such demand, as the case may be, until the payment thereof; a late payment charge equal to $100.00 on any installment of Fixed Rent not paid within five days after the date when due; and interest at the rate of six percent per annum on all installments of Fixed Rent not paid on the due date, from the due date until paid. If ▇▇▇▇▇▇ fails to pay any such Additional Rent, Lessor shall have all the rights, powers and remedies provided for in this Lease or at law or in equity or otherwise in the case of nonpayment of rent. All Fixed Rent and Additional Rent (collectively hereinafter referred to as "Rent") shall be paid in such coin or currency (or, subject to collection, by good check payable in such coin or currency) of the United States of America as at the time shall be legal tender for the payment of public and private debts, at the Basic Rent annually and proportionately for any fraction office of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date Lessor as set forth above, or at such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date place and to be in respect of the period such person as Lessor from and including the Commencement Date time to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basistime may designate. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement

Rent. 7.1 The 4.1 Tenant covenants and agrees that it to pay to Landlord each year during the Term (as the Term may be adjusted pursuant to Section 3.2 or 3.3) the Annual Rent for the Premises. Said Annual Rent shall be responsible paid in monthly installments equal to the Monthly Rent. The Monthly Rent shall be due and payable in advance, on or before the first day of each calendar month during the entire Term, commencing with the first full calendar month of the Term; provided that Tenant shall pay to the Landlord on the Commencement Date the prorated Monthly Rent attributable to the month in which the Commencement Date occurs if the Commencement Date is other than the first day of a month. Concurrently with the execution of this Lease, Tenant shall pay to Landlord the Prepaid Rent plus Florida State Sales Tax thereon and any other tax applicable to said Rent. 4.2 Tenant agrees to pay to Landlord as additional rent upon demand (but not more frequently than monthly) all charges for any services, goods or materials furnished by Landlord at Tenant's request which are not required to be furnished by Landlord under this Lease without separate charge or reimbursement. 4.3 Any rent for any fractional month shall be prorated based on a thirty (30) day month, and for any fractional year shall be prorated based on a three hundred sixty-five (365) day year. All rent payable by Tenant to Landlord under this Lease shall be paid to Landlord in lawful money of the United States of America at Landlord's office located in the Building, or to such other person or at such other place as Landlord may from time to time designate in writing. All rent shall be paid without prior demand, deduction, setoff or counterclaim. 4.4 A late payment penalty shall be added to any rent not received by Landlord within ten (10) days of the due date. Such penalty shall be equal to the interest that accrues on said amount from the date the payment was due until the date on which Landlord receives said payment, computed at the rate of eighteen percent (18%) per annum. 4.5 The Monthly Rent shall be adjusted, upward only, beginning on the first anniversary of the Commencement Date by the greater of $0.25 per square foot or by the same percentage that the "Index" (as hereinafter defined) most recently published prior to such anniversary date has increased over the Index on the date of this Lease. For purposes of this Paragraph 4.5, the "Index" means the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W); U.S. City Average (1967=100) as published by the United States Department of Labor, Bureau of Labor Statistics; provided that, in the event the Index shall not be published or shall be discontinued, the most nearly comparable index shall be substituted therefor by Landlord; however, such increase shall not exceed a total of $13.00 per square foot annually over the term of this Lease and the renewal option period exercised by the Tenant. 4.6 Tenant shall pay to Landlord concurrently with the payment of the Basic Monthly Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay sums all Outgoings, VAT Florida State Sales Tax and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the tax which is applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlordpayment. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Sublease Agreement (Insurance Management Solutions Group Inc)

Rent. 7.1 The 1.1 Tenant covenants shall pay to Landlord annual net rent (the "Annual Net Rent") as follows: (i) [***] multiplied by the total number of square feet of Rentable Area in the Demised Premises per annum for the period commencing on the Rent Commencement Date and agrees that it ending on the last day of the sixtieth (60th) full month after the Rent Commencement Date; and (ii) [***] multiplied by the total number of square feet of Rentable Area in the Demised Premises per annum for the sixty-first (61st) through one hundred twentieth (120th) full months after the Rent Commencement Date. Tenant will pay the Annual Net Rent in lawful money of the United States of America, in equal monthly installments in advance on the first day of each calendar month during the Term, at the offices of Landlord as set forth in the beginning of this Lease or such other place in the United States of America as Landlord designates. If the obligation to pay Annual Net Rent commences on any day other than on the first day of a calendar month, then the Annual Net Rent for the period from the date on which the obligation commences to the first day of the calendar month shall be responsible for prorated on a per diem basis. The first month's installment of Annual Net Rent shall be paid by Tenant upon the execution of this Lease and shall be credited by Landlord to the payment of the Basic Annual Net Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become that first becomes payable under this Lease. 1.2 Tenant shall pay the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date Annual Net Rent and Additional Rent (with respect to the period as defined in the next sentence belowimmediately succeeding sentence), by good and sufficient check (subject to collection) drawn on a local bank which is a member of the Basic New York Clearing House Association or of a successor to that Association. All sums of any kind other than Annual Net Rent that are payable by Tenant under this Lease are "Additional Rent," and shall be payable within fifteen (15) days following demand by Landlord, unless other payment dates are provided in this Lease; such sums shall be Additional Rent solely for the purpose of providing to Landlord the same remedies as are available to it in the event of default in the payment of Annual Net Rent. 1.3 If Tenant fails to pay when due any installment of Annual Net Rent or any payment of Additional Rent, then Tenant shall pay interest thereon at the Interest Rate (as defined in Article 24), from the date on which that installment or payment becomes due to the date on which it is paid. 1.4 If, due to a Law which (a) limits Landlord's right to collect or receive all, or any part of, either or both of the Annual Net Rent and the Additional Rent (together, the "Total Rents") or (b) requires that Landlord refund any of the Total Rents that Landlord already has received (either of which is referred to as a "Rent Restriction"), Landlord does not receive or retain all amounts on account of Total Rents that, but for the Rent Restriction, Landlord would have received or retained, then Tenant shall enter into such agreements and take such other steps as Landlord requests to permit Landlord to collect the maximum amount of the Total Rents that Landlord may be permitted to collect from time to time during the continuance of the Rent Restriction (but not in excess of the amounts provided for under this Lease). Upon the termination of the Rent Restriction, (a) the Total Rents shall be payable in full, and (b) Tenant shall pay to Landlord, to the maximum extent legally permissible, an amount that is equal to the excess of (i) the Total Rents which would have been paid but for the Rent Restriction, over (ii) the Total Rents that were paid during the period that the Rent Restriction was in effect. 1.5 Annual Net Rent, Additional Rent and all other sums payable hereunder by Tenant shall be paid without notice or demand, and without setoff, counterclaim, abatement, suspension, deduction or defense of any kind whatsoever, except as may otherwise be expressly provided in this Lease. Annual Net Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment entirely "net" to Landlord, it being intended that Tenant shall be made on required to pay, as Additional Rent, all costs and expenses of operating the Commencement Date and Demised Premises. Except as may otherwise be expressly provided in this Lease, this Lease shall not terminate, nor shall Tenant be entitled to the abatement or any rent hereunder or any reduction thereof, nor shall, except as otherwise set forth herein, the obligations of Tenant under this Lease be in respect otherwise affected for any reason whatever, it being the intention of the period from parties hereto that the obligations of Tenant hereunder shall be separate and including independent covenants and agreements, that the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any rent and all other taxes sums payable by Tenant hereunder shall continue to be payable in all events, and the obligations of Tenant hereunder shall continue unaffected, unless the requirement to pay or sums whatsoever as become payable perform the same shall have been terminated, abated or refundable by the Tenant reduced pursuant to the Landlord under the provisions of Clause 10.9 an express provision of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease (Panamsat Corp /New/)

Rent. 7.1 The 4.01 Tenant covenants shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and agrees that it shall be responsible Additional Rent due for the payment Term (collectively referred to as “Rent”). “Additional Rent” means all sums (exclusive of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable Base Rent) that Tenant is required to pay Landlord under the provisions of SCHEDULE 2this Lease. Following the first rent payment Commencing on the respective Rent Commencement Date (with respect to the period defined in the next sentence below)Date, the Basic Base Rent and recurring monthly charges of Additional Rent shall be divided into four (4) equal portions due and each portion will be paid quarterly payable in advance on the first day of each calendar month without notice or demand. All other items of Rent Payment Date in every Lease Yearshall be due and payable by Tenant on or before 30 days after billing by Landlord. The first (1st) rent payment Rent shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the entity, and sent to the address, Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant designates and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by good and sufficient check or by other means acceptable to Landlord. If Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractordoes not pay any Rent when due hereunder, as applicable. 7.4 If required by the Landlord, the Tenant shall pay Landlord an administration fee in the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order amount of $250.00, provided that Tenant shall be entitled to a grace period of up to 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum if not paid within five (5) days of the due date, 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 correct amount of Rent shall be considered a payment on account or bank accounts (but not more than two (2)) either in Germany or another country which of the Landlord has notified in writing 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. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and for any partial month during the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost Term shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the prorated. No endorsement or statement on a check or letter accompanying payment of the Basic Rent) shall be made against Invoices issued by the Landlord considered an accord and satisfaction. Tenant’s covenant to the Tenantpay Rent is independent of every other covenant in this Lease.

Appears in 1 contract

Sources: Office Lease Agreement (Zulily, Inc.)

Rent. 7.1 The Tenant covenants and agrees that it shall be responsible for the payment All obligations of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the make payments to Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the OutgoingsLease shall constitute Rent. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Rent at the times and in the manner hereinafter set forth. Base Rent for the Leased Premises and Tenant’s Proportionate Share of Estimated Operating Cost and Impositions for Space A, Space B, Space C, and the Utility Shaft Space shall be paid commencing on the Term Commencement Date. Tenant shall have no obligation to pay Operating Cost or Impositions for the Basement Storage Space, the Penthouse Storage Space, or the Rooftop Satellite Dish Space. Commencing on the Term Commencement Date, Tenant shall pay the Base Rent in twelve (12) equal installments on the first day of each calendar month during each year of the Term including any extension thereof, in advance. Together with each installment of Base Rent, Tenant shall pay to Landlord one-twelfth (1/12th) of Tenant’s Proportionate Share of Estimated Operating Cost for the then current year and one-twelfth (1/12th) of Tenant’s Proportionate Share of Estimated Impositions for the then current year. All Gross Rent shall be paid without demand and (except as expressly provided in this Lease) without any reduction, abatement, counterclaim or setoff, at the address for Landlord specified on the Basic Rent reserved Lease Information sheet or at such other address as may be designated by Clause 7.1 and VAT by wire transfer or banker's standing order Landlord from time to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenanttime. If Landlord requires Basic Rent and VAT to be paid to the Term commences on a bank account located outside day other than the first day of Germany and a calendar month, or if the cost to wire transfer Basic Rent and VAT to such account exceeds Term terminates on a day other than the cost to wire transfer such funds to an account in Germanylast day of a calendar month, then Gross Rent provided for such excess cost partial month shall be borne by Landlordequitably prorated on such date of commencement or termination. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Sublease Agreement (NewStar Financial, Inc.)

Rent. 7.1 The 5.01 Tenant covenants shall pay to Landlord without notice or demand and agrees that it without abatement, deduction or set-off, in lawful money of the United States of America, at the office of the Landlord as set forth in Article 1 hereof, or at such other place as Landlord may designate, the Fixed Rent reserved under this Lease for each year of the Term, payable in equal monthly installments in advance on the first day of each and every calendar month during the Term; and additional rent consisting of all such other sums of money as shall become due from and payable by Tenant to Landlord hereunder (for default in payment of which Landlord shall have the same remedies as for a default in payment of Fixed Rent). 5.02 Tenant shall pay the Fixed Rent and additional rent herein reserved promptly as and when the same shall become due and payable under this Lease and shall be responsible liable to the Landlord for an administrative charge of 4% for rent paid five (5) days subsequent to the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including date set in Article 5. 01. If the Commencement Date and from and including the Rent Adjustment Date such shall occur on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first day of a calendar month the Fixed Rent and additional rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of prorated for the period from and including the Commencement Date to the last day of the said calendar month and including the Working Day immediately preceding the next following Rent Payment Date calculated shall be due and payable on a daily basis. 7.2 From and including the Commencement Date. Notwithstanding the provisions of the next preceding sentence, the Tenant shall pay all Outgoingson account toward the first full calendar month installment(s) of Fixed Rent, VAT and any and all other taxes or sums whatsoever as become payable or refundable by on the Tenant to the Landlord under the provisions of Clause 10.9 execution of this Lease, the Rent Prepayment specified in Article 1 hereof. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included 5.03 Whenever used in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be establishedthis Lease, the Landlord term (insofar as it pertains to this Lease) "fixed rent", "minimum rent", "base rent" or "basic rent", or any such term using the word "rental", "rents" or "rentals" in lieu of "rent", shall direct all such contractors mean Fixed Rent; and whenever used in this Lease, the term (insofar as it pertains to account on a monthly basis directly to Tenant (this Lease) "rent", "rental", "Rent" or shall provide copies on a monthly basis the plural of any such accounting statements provided by such contractor to Landlord together with the applicable statement)of them, payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic mean Fixed Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlordadditional rent. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Eventures Group Inc)

Rent. 7.1 The Tenant covenants and agrees that it shall pay to Landlord, as Base Rent for the Premises, the rental set forth in subparagraph D of Paragraph 1 hereof. Rent for the first month of the term hereof shall be responsible prorated based upon the number of days during said month that the Lease Term was in effect. All other rent shall be payable on the first day of each calendar month during the term hereof. All such rent shall be paid in advance without notice, abatement, demand, deduction or offset at the office of the Landlord or to such other place as Landlord may designate in writing. It is the understanding of the parties that the Base Rent is to be absolutely “net” to the Landlord and, except as otherwise expressly provided herein, Tenant shall bear all costs and expenses of whatever kind relating to the Premises, the Building and the Premises’ pro rata share, if any, of the expenses of the Building Complex. Notwithstanding the foregoing, Base Rent shall ▇▇▇▇▇ for the payment first three (3) months of the Basic Rent annually Term (the “Abated Rent”) and proportionately for any fraction of a Lease Year from and including if the Commencement Date is other than the first day of a month the Abated Rent shall apply to the Base Rent as prorated for that month and the remaining days of the first month abatement shall be applied to reduce the payment due for the third month of the term so that Tenant has a total of three full months of Abated Rent. The abatement of Base Rent provided herein shall not relieve Tenant from the performance of Tenant’s other obligations under this Lease, including, without limation, the obligation to pay on a timely basis Operating Expenses, as hereinafter defined, and all other additional rent and other obligations under this Lease, which shall become due and payable during the entire Term. In the event of Tenant’s default hereunder, the entire amount of the Abated Rent shall become immediately due and payable and Tenant shall, upon demand of Landlord, immediately pay to Landlord the amount of the Abated Rent. All amounts payable to Landlord under this Lease, including without limitation Base Rent, shall be paid by Tenant to Landlord at the Rent Adjustment Date address shown above, or such other Basic place as Landlord may designate in writing from time to time. In the event Tenant shall fail to pay, when the same is due and payable, any installment of the Base Rent as may become payable or any additional rent to be paid by Tenant to Landlord under the provisions terms of SCHEDULE this Lease, then at Landlord’s election to do so, such unpaid amounts shall bear interest from the due date thereof to the date of payment at the rate of two percent (2%) per annum in excess of the prime or base rate set by ▇▇ ▇▇▇▇▇▇ Chase Bank, or its successor, as such rate is increased or decreased, from time to time (the “Default Rate”). Following the first rent payment on the Commencement Date (In any event, however, Tenant shall be charged a service charge with respect to each monthly installment of rental not received by the period defined due date for said installment. Such service charge shall reimburse Landlord for the additional administrative expenses incurred by Landlord in connection with the next sentence below), the Basic Rent collection of such late installment of monthly rental. The service charge shall be divided into four the greater of five percent (45%) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from amount over due or unpaid or Fifty and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and Dollars ($50.00) for any and all other taxes or sums whatsoever as become payable or refundable rental not paid by the Tenant to seventh (7th) day of the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant month. Any interest and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT service charge to be paid by Tenant pursuant to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost foregoing provisions shall be borne by Landlordpaid along with the next scheduled installment of Base Rent without any additional notice whatsoever. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Somanetics Corp)

Rent. 7.1 The On the date that Tenant covenants and agrees that it executes this Lease, Tenant shall deliver to Landlord the original executed Lease, the Advance Rent (which shall be responsible applied against the Rent payable for the payment of the Basic Rent annually and proportionately for any fraction of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect month(s) Tenant is required to the period defined in the next sentence belowpay Rent), the Basic Rent shall Security Deposit, and all insurance certificates evidencing the insurance required to be divided into four (4) equal portions Obtained by Tenant under Section 12 and each portion will be paid quarterly Exhibit of this Lease. Tenant agrees to pay Landlord the Base Rent, without prior notice or demand, abatement, offset, deduction or claim except as expressly otherwise set forth herein, in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made at Landlord's Address on the Commencement Date and to be in respect thereafter on the first (1st) day of each month throughout the balance of the period from and including Term of the 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, Tenants Share of Operating Expenses, Tax Expenses, Common Area Utility Costs, and Utility Expenses. The term "Rent" whenever used herein refers to and including the Working Day immediately preceding aggregate of all these amounts. If Landlord permits Tenant to occupy the next following 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 Payment Date calculated 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 a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor prorated Rent for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which final calendar month hereof shall be made by Tenant to paid on the applicable contractor within thirty (30) days following receipt first day of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either calendar month in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside date of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlordexpiration or termination occurs. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (New Focus Inc)

Rent. 7.1 The Tenant covenants and agrees that it rents shall be responsible for and consist of a Base Rent (herein called ---- "Base Rent") and Additional Rent (herein called "Additional Rent"). For purposes of this Lease Agreement, Base Rent and Additional Rent are referred to collectively as "Rent." Base Rent shall be the payment amount indicated in the Basic Lease Information. Base Rent shall be payable in equal monthly installments in advance on the first day of each and every calendar month during the term of this Lease (except to the extent otherwise specifically provided elsewhere in this Lease and except that Tenant shall pay, upon the execution and delivery of this Lease by Tenant, the sum indicated in the Basic Lease Information, to be applied against the first installment(s) of Base Rent becoming due under this Lease). Additional Rent shall consist of all other sums of money as shall become due from and payable by Tenant to Landlord under this Lease. All Rent shall be paid in lawful money of the Basic United States of America to Landlord at its office or such other place, as Landlord shall designate by notice to Tenant. Tenant shall pay the Base Rent annually and proportionately Additional Rent promptly when due without notice or demand and without any abatement, deduction or offset for any fraction of a Lease Year from and including reason whatsoever, except as expressly provided in this Lease. If the Commencement Date and from and including the Rent Adjustment Date such occurs on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below)day of a calendar month, the Basic Base Rent for that partial calendar month shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated prorated on a daily basis. 7.2 From and including . If the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor Basic Lease Information provides for the services included abatement of Base Rent for any specified periods of time during the term of the Lease ("Rent Free Period(s)"), none of the Base Rent specified in this Lease as payable during the OutgoingsLease Term shall be allocable to any such Rent Free Period(s). If direct contractual relationships between In the Tenant and a contractor cannot be establishedevent of any default by Tenant, the Landlord shall direct have the right to collect Rent for the Premises from Tenant for all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of Rent Free Period(s) at the same Base Rent in effect immediately after any such accounting statements provided by such contractor to Landlord together with the applicable statementRent Free Period(s), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Virtual Mortgage Network Inc)

Rent. 7.1 The Section 4.01 Tenant covenants and agrees that it to pay to Landlord in lawful United States currency the Annual Base Rent. All Annual Base Rent shall be responsible for payable, in equal monthly installments, in advance, beginning on the payment Commencement Date, and continuing on the first day of each and every calendar month thereafter during the Basic Term, provided that no Annual Base Rent annually and proportionately for any fraction of a Lease Year from and including shall be payable during the Free Rent Period. Should the Commencement Date and from and including the Rent Adjustment Date such fall on a day other Basic Rent as may become payable under the provisions of SCHEDULE 2. Following than the first rent payment on day of the Commencement Date (with respect to month, then Tenant shall pay Rent for the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made fractional month commencing on the Commencement Date and to be in respect ending on the last day of the period from and including month in which the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date occurs on a per diem basis (calculated on the basis of a daily basis. 7.2 From thirty-day month), payable upon occupancy of the Premises by Tenant. All Rent, including, without limitation, Additional Rent, and including the Commencement Dateother payments to Landlord under this Lease shall be paid to Landlord, the Tenant without demand, setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’s Notice Address or at such other place as Landlord shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant designate in writing to Tenant. Except to the Landlord extent otherwise provided herein, Tenant’s obligations to pay Rent and other amounts due under this Lease are covenants independent of the provisions of Clause 10.9 of Landlord’s obligations under this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis Section 4.02 All monetary obligations of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractor, as applicable. 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including Lease, of any type or nature, other than Annual Base Rent, shall be denominated as “Additional Rent”. Landlord shall have the same rights and remedies with respect to defaults in the payment of the Basic Additional Rent as set forth in this Lease with respect to payment of Annual Base Rent) . The term “Rent” when used in this Lease shall be made against Invoices issued by the Landlord deemed to the Tenantinclude Annual Base Rent and all forms of Additional Rent.

Appears in 1 contract

Sources: Lease Agreement (Microphase Corp)

Rent. 7.1 The Tenant covenants and agrees that it 6.01 Subtenant shall pay to Sublandlord fixed minimum rent (the “Fixed Rent”) at the annual rate of EIGHT HUNDRED EIGHTY-ONE THOUSAND TWO HUNDRED TEN AND 00/100 ($881,210.00) DOLLARS per annum ($73,434.16 per month), which shall be responsible for payable in equal monthly installments in advance on the payment first day of each and every calendar month during the Basic term of this Sublease, except that Subtenant shall pay, upon the execution and delivery of this Sublease by Subtenant, the sum of $60,082.16 to be applied against the first monthly installment of Fixed Rent annually and proportionately for any fraction of a Lease Year from and including to become due under this Sublease (which sum reflects the Free Fixed Rent Credit set forth in Section 6.05 hereof). In the event the Commencement Date occurs on a day other than the first day of a calendar month, the Fixed Rent for such partial calendar month shall be prorated on the basis of the number of days of the Sublease term within such calendar month, and the balance of the first month’s Fixed Rent theretofore paid shall be credited against the next monthly installment of Fixed Rent. 6.02 Subtenant shall also pay to Sublandlord “Additional Rent” consisting of all such other sums of money as shall become due from and including payable by Subtenant to Sublandlord under this Sublease (for default in payment of which Sublandlord shall have the same remedies as for a default in payment of Fixed Rent). Subtenant shall also pay to Sublandlord as Additional Rent Adjustment Date such any “Subtenant Surcharges”. “Subtenant Surcharges” shall mean any and all amounts other Basic than Fixed Rent as may become payable by Sublandlord under the provisions Master Lease which, by the terms of SCHEDULE 2. Following the first Master Lease, become due and payable by Sublandlord to Master Landlord as additional rent payment on or otherwise and which would not have become due and payable but for the Commencement Date acts, requests for services, and/or failures to act of Subtenant, its agents, officers, representatives, employees, servants, contractors, invitees, licensees or visitors under this Sublease, including, but not limited to: (with respect i) any increases in Master Landlord’s fire insurance premiums, to the period defined extent resulting solely from any act or omission of Subtenant, (ii) any charges to Sublandlord on account of any additional services requested by, and furnished to, Subtenant under the Master Lease, (iii) any charges which are imposed on Sublandlord, to the extent that such charges are attributable to the Subleased Premises or the use thereof by Subtenant or services or utilities provided thereto pursuant to the terms of the Master Lease or by reason of Subtenant’s request, and (iv) any additional charges to Subtenant on account of Subtenant’s use or consumption in connection with the next sentence below)Subleased Premises, including, without limitation, elevator, electrical or HVAC usage in excess of normal usage, provided same are charged by Master Landlord to Sublandlord pursuant to the Basic terms of the Master Lease. Fixed Rent and Additional Rent are hereinafter sometimes collectively referred to as “Rent”. All Additional Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made payable by Subtenant on the Commencement Date earlier to occur of (i) fifteen (15) days after written demand therefor by Sublandlord and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant (ii) three (3) days prior to the Landlord under date the provisions of Clause 10.9 of this Lease. 7.3 The Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), corresponding payment of which shall be made such Additional Rent is payable by Tenant Sublandlord to the applicable contractor within thirty Master Landlord (30but in no event less than seven (7) days following receipt of an Invoice from Landlord or contractor, as applicableafter written demand therefor). 7.4 If required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease (including the payment of the Basic Rent) shall be made against Invoices issued by the Landlord to the Tenant.

Appears in 1 contract

Sources: Sublease (BKF Capital Group Inc)

Rent. 7.1 The (a) Tenant covenants shall pay to Landlord the monthly rental (herein called “Base Rent”) for the Premises in the amounts specified in the Addendum, attached hereto and agrees that it made a part hereof. Tenant shall pay to Landlord the Base Rent, in advance, on the 1st day of each and every calendar month during the Term of this Lease, without notice or demand and without any set-off or deduction, except to the extent otherwise expressly provided for in this Lease. If the Term commences on other than the first day of a calendar month, the first payment of Base Rent shall be responsible appropriately prorated on the basis of the number of days in such calendar month. All Rent due or to become due hereunder shall be paid to Landlord at its address set forth in this Lease, unless Landlord shall designate some other payee or address for the payment thereof by giving written notice to that effect to Tenant. For purposes of this Lease, the term “Rent” shall mean the Base Rent, all additional rent and all of the Basic Rent annually and proportionately for any fraction other monetary obligations of a Lease Year from and including the Commencement Date and from and including the Rent Adjustment Date such other Basic Rent as may become payable Tenant under the provisions of SCHEDULE 2. Following the first rent payment on the Commencement Date (with respect to the period defined in the next sentence below), the Basic Rent shall be divided into four (4) equal portions and each portion will be paid quarterly in advance on each Rent Payment Date in every Lease Year. The first (1st) rent payment shall be made on the Commencement Date and to be in respect of the period from and including the Commencement Date to and including the Working Day immediately preceding the next following Rent Payment Date calculated on a daily basis. 7.2 From and including the Commencement Date, the Tenant shall pay all Outgoings, VAT and any and all other taxes or sums whatsoever as become payable or refundable by the Tenant to the Landlord under the provisions of Clause 10.9 of this Lease. 7.3 The (b) Tenant shall, if possible, ensure that direct contractual relationships are established between the Tenant and the contractor for the services included in the Outgoings. If direct contractual relationships between the Tenant and a contractor cannot be established, the Landlord shall direct all such contractors to account on a monthly basis directly to Tenant (or shall provide copies on a monthly basis of any such accounting statements provided by such contractor to Landlord together with the applicable statement), payment of which shall be made by Tenant to the applicable contractor within thirty (30) days following receipt of an Invoice from Landlord or contractorpay, as applicable. 7.4 If additional rent, all amounts of money required by the Landlord, the Tenant shall pay the Basic Rent reserved by Clause 7.1 and VAT by wire transfer or banker's standing order to a bank account or bank accounts (but not more than two (2)) either in Germany or another country which the Landlord has notified in writing to the Tenant. If Landlord requires Basic Rent and VAT to be paid to a bank account located outside of Germany and the cost to wire transfer Basic Rent and VAT to such account exceeds the cost to wire transfer such funds to an account in Germany, then such excess cost shall be borne Landlord by Landlord. 7.5 Any payments from the Tenant to the Landlord under this Lease in addition to monthly Base Rent whether or not the same is designated “additional rent.” Tenant shall pay to Landlord all additional rent upon Landlord’s written request or otherwise as provided in this Lease. (including the c) Tenant acknowledges that late payment of Rent to Landlord will cause Landlord to incur costs not contemplated by this Lease, the Basic Rent) shall exact amount of which is extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be made against Invoices issued imposed on Landlord by the terms of any trust deed covering the Premises. Accordingly, if any installment of Rent or any other sums due from Tenant shall not be received by Landlord within ten (10) days after the date such payment is due, Tenant shall pay to Landlord a late charge in an amount equal to two percent (2%) of such overdue amount. The parties agree that such late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. Acceptance of such late charge by Landlord shall not constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder.

Appears in 1 contract

Sources: Lease Agreement (Eschelon Telecom Inc)